Internship Report on Meezan Bank Essay Example

Internship Report on Meezan Bank Paper ACKNOWLEDGEMENT Internship training for  the students of Commerce and Business is a complimentary portion of the education,  where students are  put at  various organizations of  their respective  specialization; to see and apply their theoretical knowledge what they have studied dur ing their academic program at the institute. Meezan Bank is one of those organizations where student can achieve his/her academic and  professional knowledge productively. In the preparation of this internship report, I acknowledge the encouragement and assistance given by a number of people from Meezan Bank Ltd. I found every one very co-operative and helpful for providing me the theoretical as well as practical knowledge about the function and operation of the bank. I am heartly grateful to CAD ( Housing) department, Manager CAD The Senior Vice President, Mustafa Mohsin, Assistant Manager Syed Adnan Ali, Officer Aurangzab, Qaiser, Naeem Javed. They have been most supportive people throught my internship. And I want to pay my thanks to Humail Jilani, Sana mehmood, Salman, Kashif, Ali, Rehan, faraz from Car Ijarah. Faraz Ahmed Jalal, Habeeb Siddiqui, Noman Ahmed Akif From Labbaik Laptop. Akrama Farroqi, Salman, Fahad Khan, from Housing. Raza Saeed, Amir, from RMU for their cooperation.. ABSTRACT This report is specially meant for students of commerce. It is concerned to a brief study of the operations, functions, Products and Services of Meezan Bank. Meezan Bank is the largest Islamic Banking Network of pakistan. Islamic banking one of the fastest growing segments of the financial industry. We will write a custom essay sample on Internship Report on Meezan Bank specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Internship Report on Meezan Bank specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Internship Report on Meezan Bank specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Banks serving the Islamic population must comply with several very specific principles of Islamic law if they hope to retain existing customers and attract new ones. Banks must be ready with specialized products and services and they must put programs in place to train their personnel to support these products and services in order to exist in this competitive marketplace. This Report contains detail of MBL Management structure, products and Functions along with their features. It also includes departmental work in MBL Consumer Head Office. INTRODUCTION OF MEEZAN BANK Meezan Bank Limited, a publicy listed company was incorporated on January 27, 1997 and started its operations as an investment Bank in August that year. In January 2002 Meezan bank was granted as nations full-fledged commercial bank licence as a dedicated Islamic Bank, by The State Bank of Pakistan. Meezan Bank is the first and largest Islamic Bank in Pakistan having a network of over 220 branches in over 60 cities across Pakistan. Meezan Bank offers a complete range of Islamic banking products and services, including free online banking for all Pak Rupee account at all its branches. Meezan Bank today a noteworthy point along with the evaluation of Islamic Banking in pakistan. Meezan Bank  is catering to an increasingly astute and demanding financial consumer who is also becoming keenly aware of Islamic Banking. Meezan Bank bears the critical responsibility of leading the way forward in establishing dynamic and stabled Islamic Banking System. Meezan Bank offereing valuable products and services to its customers without any violation of shariah principles. MISSION VISION STATEMENT OF MEEZAN BANK Vision [pic] |   | | |   | | |Establish Islamic banking as banking of first choice to facilitate the implementation of an equitable| | |economic system, providing a strong foundation for establishing a fair and just society for mankind. | Mission [pic] |   | | |   | | |To be a premier Islamic bank, offering a one-stop shop for innovative   | | |value-added products and services to our customers within the bounds of Shariah, while optimizing | | |the stakehol ders value through an organizational culture based on learning, fairness, respect for | | |individual enterprise and performance. | Service Mission [pic] |   | | |   | | |   | | |To develop a committed service culture which ensures the consistent delivery of our products and | | |services within the highest quality service parameters, promoting Islamic values and ensuring | | |recognition and a quality banking experience to our customers. | SHARIAH SUPERVISORY BOARD MEEZAN BANK The basic principle of Islamic banking follows the laws of Sharia, known as Fiqh al-Muamalat (Islamic rules on transaction). The term â€Å"Islamic banking† is synonymous with â€Å"full-reserve banking† and â€Å"Sharia-compliant banking. † Members of the Shariah Supervisory Board of Meezan Bank are Internationally-renowned scholars, serving on the boards of many Islamic banks operating in different countries. The members of the  Board are: Justice (Retd. ) Muhammad Taqi Usmani ( Chairman) ? Dr. Abdul Sattar Abu Ghuddah ? Sheikh Essam M. Ishaq ? Dr. Muhammad Imran Ashraf Usmani (Shariah Advisor) ? The Board of Directors of Meezan Bank: †¢ H. E. Sheikh Ebrahim Bin Khalifa Al-Khalifa  (Chairman) †¢ Mr. Abdullateef A. Al-Asfour †¢ Mr. Rana Ahmed Humayun †¢ Mr. Mohammed Azzaroog Rajab †¢ Mr. Ahmed Abdul Rahim Mohamed †¢ Mr. Alaa A. Al-Sarawi †¢ Mr. Mian Muhammad Younis †¢ Mr. Mohammad Abdul Aleem †¢ Mr. Irfan Siddiqui  (President CEO) †¢ Mr. Ariful Islam  (Chief Operating Officer) MEEZAN BANK SEGMENTS Meezan Bank is managed by a team of professional bankers committed to the cause of Islamic Banking. This single unifying factor unleashes the tremendous power of a dedicated and motivated team committed to fulfilling the Vision and Mission of this Bank. The business segments of the Bank are: †¢ Consumer  Banking †¢ Corporate Banking †¢ Investment Banking †¢ Commercial Banking  (including Small and Medium Enterprises) †¢ Treasury Financial Institutions †¢ Asset Management (managed through a subsidiary Al Meezan Investment Management Ltd. ) PRODUCTS AND SERVICES OF MEEZAN BANK Banks that comply with Islamic law are forbidden to charge interest or late payment fees, which is also considered a type of riba. To minimize risk, banks will often require a large down payment on goods and property, or insist upon large collateral. It is lawful for the Bank to charge a higher price for a good if payments are deferred or collected at a later date since it is considered a trade for goods rather than collecting interest. Sharia-complaint banking products include Mudharabah (profit sharing), Wadiah (safekeeping), Musharakah (joint venture), Murabahah (cost plus) and Ijarah (leasing). Another way that banks work within Islamic laws while trying to turn a profit is by buying an item that the customer wants, and then selling the item to the customer at a higher price. Products Of Meezan Bank 1) Car Ijarah [pic] 2) Housing Finance (MUSHARKAH) [pic] 3) Meezan Lap-Top (MUSSAWAMA) [pic] 4) Meezan Labbaik Ummrah [pic] CAR IJARAH (YOUR OWN CAR. QUICK, AFFORDABLE HALAL! ) An Islamic Ijarah is an asset-based contract, i. e. he Lessor should have ownership of the asset during the period of the contract. Under Islamic Shariah, all ownership related rights and liabilities should lie with the owner while all usage-related rights and liabilities should lie with the user. A conventional lease contract does not distinguish between the nature of these liabilities and places all liabilities on the user of the asset, contradictory to Islamic Shariah. Under Car Ijarah in Meezan Bank, all ownership-related risks lie with the Bank while all usage related risks lie with the user, thus making the Lessor the true owner of the asset and making the income generated through the contract permissible (Halal) for the Bank. MODES OF CAR IJARAH There are two separate entities in Car ijarah. 1) INDIVIDUAL Salaried individuals, With necasary documents and conditions can apply for Car Ijarah Facility. 2) CORPORATE †¢ SME’S Small Business Entities. SME’s are legal entities that work on small basis. Sole Propritership Partnership having less than 50 Million current assets are called SME’s. †¢ COMMERCIAL To lie in Commercial Entities, A firm must have sales of 300 millions above 50 million current assets. †¢ CORPORATE Corporate are those Entities having above 700 millions sales. Mostly the Companies registered under companies Ordinance are corporate firm. Tenure:3 to 5 years Security Deposit:0 to 50% ( 0% S. D is not for Individual Clients, because due to State Bank regulations relaxation can be given to Corprates. ) Key Features of Car Ijarah †¢ Low monthly rental. †¢ Rental paid after delivery, not in advanced. †¢ Fastest processing and delivery. †¢ Tracker option available. †¢ Minimum security deposit. †¢ All new, used, local, imported and luxury vehicles can be financed Additional Car Ijarah features are; †¢ Continuation Of Lease Rentals In Case Of Total Loss Or Theft Of Vehicle If the leased vehicle is stolen or completely destroyed, the conventional leasing company continues charging the lease rent till the settlement of the Insurance claim. Under the Islamic system, rent is consideration for usage of the leased asset, and if the asset has been stolen or destroyed, the concept of rental becomes void. As such, in the above-mentioned eventualities, Meezan bank does not charge the lease rental. †¢ Takaful Instead of Insurance Legally (in accordance to Pakistan’s Law and Regulations), it is required for all leasing entities to insure the leased assets. As such, Meezan Bank insures its leased assets. Meezan Bank insured its assets through Takaful only, which is Islamic product for insurance. The Islamic Insurance Companies in transactions with Meezan Bank are Pak Kuwait Takaful Pak Qatar Takaful. †¢ Permissibility for Penalty of Late Payment of Rent under Islamic Shariah In most contemporary financial leases, an extra monetary amount is charged, in their income, if the rent is not paid on time. This extra amount is the considered as Riba and is Haram. Under Ijarah, the Lessee may be asked to undertake, that if he fails to pay rent on its due date, he will pay certain amount to a charity, which will be administered through the Islamic Bank. For this purpose the bank maintains a charity fund. 2) Easy Home Importance of Halal home finance Owning your own home is one of lifes most important achievements. It represents your security, stability, and is a great blessing in itself. It provides that all-important safety and comfort for you and your loved ones. However, in todays often unpredictable and costly environment, saving the required money can take a lifetime in itself. Rising property prices, taxes, inflation, currency devaluation†¦ its all a very hard bargain. On the other hand, owning your own home and paying an easy installment that takes you step by step towards complete ownership, is so much better than paying a rent which ultimately only adds to your expenses. Added to that is your desire to stay away from interest based financing and be totally Riba-Free, thus  achieving that inner satisfaction and peace of mind you desire so much. Why not have the best of both worlds? Isnt that what you are working so hard for anyway First complete Islamic Home Finance facility in Pakistan! Easy Home is comprehensive, affordable, and totally hassle-free. For at Meezan Bank, people are committed to meeting customers needs, in| |a truly Shariah-compliant manner coupled with dedicated service excellence. | |Islamic Financing on a Dimin ishing Musharakah basis | |With  Easy Home  customer participate with Meezan Bank in a joint ownership of property, where the Bank will provide a certain amount of | |financing usually up to 85%. They agree to a monthly payment to the Bank of which a component is for the use of the home (rent), and | |another for equity share. In fact, the otal monthly payment is  reduced regularly as your share in the property grows. When customers have| |made the full investment that had been agreed, customer become the sole owner with a free and clear title to the property. | | | | | | | | | | | | | | |Particulars | |Eligibility | | | |Citizenship | |- Pakistani and Non Resident Pakistanis as per policy | | | |Residence Work Address | |Pakistan other countries (NRP) as per policy | | | |Age | |- Minimum age required for a Primary Customer is 25 years. |-Co-applicant must be over 21 years of age. | |- Maximum 65 years old at the time of maturity of facility for Primary Customer . | |- Maximum 70 years old at the time of facility maturity for Co-applicant. | |In case of Salaried Person Applicant and/or Co-applicant, maturity date of facility shall not exceed the date of retirement. | | | |Customer / Applicant | |- Primary (or Single) Co-applicant allowed. | |- Co-applicant must be a member of the immediate family i. e. pouse parents only | | | |Income | |Salaried | |- Minimum Gross Income of PKR 20,000 per month. | |- 100% Co-applicant income will be clubbed in case of spouse. | | | | | |Self-Employed / Business Person | |- Minimum Gross Salary of PKR 50,000 per month. | | |Personal Reference | |- Two personal references (one relative and other office colleague/friend) not living with the customer | | | |Employment Tenure | |Salaried | |- Permanent job with a minimum 2 years continuous work history in the same industry / field. | | | | | |Self-Employed / Business Person | |- Minimum 3 years in current business / industry. | | | | | | |Particulars | |Eligibility  (For NRP Customers) | | | |Citizenship | |Pakistani | | | |Product Category | |Buyer, Builder, Renovation Replacement | | | |Builder / Renovation Cases | |In such cases, a responsible person will be appointed by the NRP customer who will look after construction on Musharakah property/land. | | |Segment | |Salaried Only | | | |Co-applicant for Income clubbing | |50 % of Net income of Parents, Spouse Son | | | |Age (Applicant Co-applicant for calculation of MBL financing amount) | |25 to 60 years | | | |Co-applicant Age (without income clubbing) |25 to 65 years | | | |Income | |Gross PKR 150,000/- above | | | |Employment Tenure | |Two years (minimum) regular experience in same industry. | |Minimum last 1-year existing job in the same country. | | | |Employment Status | |Permanent Contractual | | | |Company Eligibility | |Multinational Co. Well Established Local Corporate Groups | | | |Financing Tenor | |3 to 20 Years | | | |Financing Range | |PKR 0. 3M PKR 40M | | | FEATURES OF EASY HOME COMMENCEMENT OF AGREEMENT. The contract of Diminishing Musharaka house financing can be effected for a future date on the condition that the â€Å"profit† rate is payable after possession of the house by the client. Thus an effective forward contract is allowed despite its prohibition in Islam. It is called â€Å"a later† contract by the Islamic bank. Repayment of principal and â€Å"profit† / rent becomes due on possession of property by the client. 1- TERMINATION OF CONTRACT If the financier contravenes any term of the agreement, the client has the right to terminate the Musharaka contract unilaterally. If there is no contravention on the part of the financier, the contract cannot be terminated without mutual consent by the client. In case of the death of the client the contract will be terminated and it will be renewable by his successors. The client can terminate contract by purchasing the shares of the bank. 2- RISK OF LOSS In the Diminishing Musharaka house financing contract the financier as a Shirkat-ul-Milk participates in â€Å"profit† not in loss, the client will participate in both â€Å"profit† and loss, and the client will bear all losses. 3- OWNERSHIP PROVISION In the Diminishing Musharaka house financing contract the bank and the client co-own the house according to a predetermined ratio, if the bank invests 80% and the client invests 20%, the bank will own 80% of the property. 4- SALE TRANSFER The bank makes an agreement to allow the client to buy the units periodically, thus reducing the share of the bank and increasing the share of the client. This arrangement allows the bank to claim â€Å"rent† according to its proportion of ownership in the property and at the same time allows a periodical return of a part of the principal through purchase of the units of the bank’s share of the house by the client. 5- EXPENSE CONSEQUENT TO OWNERSHIP In Diminishing Musharaka house financing contract the client pays all expenses consequent to ownership, the bank participates in â€Å"profit† not in expenses or losses. 6- SECURITY Meezan Bank and AlBaraka require mortgage deeds. They prefer simple and registered mortgages. 7- LIABILITY OF BANK In Diminishing Musharaka house financing contracts the bank is liable for complying with the terms of the agreements. These include payments according to pre-determined schedules and sale of its share to the client. At the time of agreement the bank must disclose all facts pertinent to the agreement before the agreement is enacted 9- RIGHTS OF BANK’S CLIENT Diminishing Musharaka house financing. In Diminishing Musharaka house financing contracts the following are the rights and the powers of partners. 10-PENALTY ON LATE PAYMENT In Diminishing Musharaka house financing contracts the bank is entitled to charge penalty on late payments. Standard Chartered (Islamic bank), Meezan and Alabaraka charge penalty after 45 days. If the client makes late payments, the bank will continuously charge penalty. ?Easy Home offers customers a comprehensive solution with: †¢ Easy Buyer †¢ Easy Builder †¢ Easy Renovate †¢ Easy Replacement Within these wonderful options come the special benefits of Easy Home. †¢ Flexible Financing Tailored to Support customers. †¢ High financing amounts. †¢ Maximum financing against property value. Flexibility to make partial prepayments. †¢ Minimal processing charges. †¢ Very affordable and competitive monthly payment plan with a regularly reducing  rental amount. Quick Processing Time Absolutely hassle-free. Qu ick turn-around-times, with no burdensome complexities or excess paper work. It’s simple, halal, and easy! Come and take the step towards Riba free financing for your home, made easy with Meezan Banks Easy Home! Easy Buyer Buying a Home is Easy Halal!. †¢ Meezan Bank will finance up to 70% of the appraised value of your home cost to salaried individuals 60% to Businessmen.. †¢ Flexible financing by calculating DBR ( Debt Burden Ratio) Easy selection of financing tenure from a minimum of 2 years  (excluding construction period of max 12 months) up to a maximum of  20 years. ( in some cases it can go with 25 years Tenure) Easy Builder Building a Home is Easy Halal! For that special home you want to build yourself, or to help continue construction you may have already started. †¢ Meezan Bank will finance up to 70% of the appraised value of your home cost to salaried individuals 60% to Businessmen.. †¢ Flexible financing by calculating DBR ( Debt Burde n Ratio) †¢ Easy selection of financing tenure from a minimum of 2 years  (excluding construction period of max 12 months) up to a maximum of  20 years. in some cases it can go with 25 years Tenure) Easy Renovate Renovating your Home is Easy Halal! Making your home even better or just repairing it, do it with Meezan Banks Easy Renovate! Meezan bank finances maximum 30% of the Property Value in case of Renovation. Easy Replace Replacing  your existing mortgage to Islamic mode is Easy Halal †¢ Ready for transaction if it is replaced from Islamic Bank. †¢ It will Take period of 12 Months in case of replacement from Conventional Banks. RENTAL AMOUNT Rent Amount Is calculated with taking three figures. 1) UNIT COST (Dividing financing Amount with Total units/ months) 2) KIBOR ( Karachi Inter Bank Office Rate)Currently 14. 9 3) PROFIT RATE †¢ 3 for Salaried. †¢ 4 for Businessmen. †¢ 2 for listed Companies in Banks profile. RENTAL= UNIT COST+ KIBOR + P ROFIT RATE Modes of payment †¢ UMI †¢ EMI †¢ STEP UP MEEZAN LAPTOP Meezan Bank launches Laptop Ease offer in April 2011. It is a Shariah-compliant laptop financing, for individuals and for corporate class of  pakistan. By choosing this facility, customers can grab at their laptop sets by a process of easy installments.. Special features of Meezan Laptop Ease: †¢ Easy Installment options for financing period for 3 to 24 months. †¢ 2 years warranty with parts provided by vendor. †¢ Free Caring Case will be provided by vendor. Dedicated Call Center by New Horizon (vendor) for addressing after sale issues and providing after sales support to the customers at their door step †¢ Absolutely Free Takaful Coverage. All laptops acquired through Meezan Laptop Ease will be covered by Takaful (Islamic Insurance) before delivery to the customers. †¢ Minimum down payment up to 15% †¢ Laptop model offerings will vary from time to time in consistence wi th the latest upgraded features and market demand. †¢ Minimum age to avail this offer for both individuals and businessmen should be 20 years and maximum age should not cross over 60 and 65 years, respectively. Laptops are available at easy monthly installments of as low as Rs 2,750/- ELIGIBILITY CRITERIA ( BUSINEESMEN SELF EMPLOYED) |   | |Citizenship |Pakistani, Adult, Permanent resident | |   |   | |   |   | |Age |Minimum 20,   Maximum 65   at maturity | |   |   | |   |   | |Income (PKR) |PKR 40,000/- | |   | | |   |   | |Personal Reference |Two personal references (one relative and other office | |   |colleague/friend) not living with the customer. | |   | |   |   | |Employment Business  Tenure |Minimum 2 years in same business | |   |(Business tenure to be verified via Bank Certificate, NTN | | |Certificate, Tax returns, Proprietorship letter, Registered | | |Partnership deed etc) | | |   | SALARIED Citizensh ip |   | |   |Pakistani, Adult, Permanent resident | | |   | |   |   | |Age |Minimum 20, Maximum 60 (Salaried) at maturity | |   |(Applicant maturity date of facility shall not exceed the date of| | |retirement. ) | |   | |   |   | |Income (PKR) |PKR 25,000/- (Gross Salary) | |   |   | |   |   | |Personal Reference |Two personal references (one relative and other office | |   |colleague/friend) not living with the customer. | |   | |   |Permanent job with minimum 1 year continuous working history in | |Employment Business  Tenure |same industry. | |   |Direct company contract valid till maturity date of financing | | |(Total 1 year previous working experience is mandatory). | MEEZAN LABBAIK UMRAH Labbaik Travel Saving Aasaan Labbaik Travel Aasaan Labbaik Travel Aasaan is a completely Halal Riba Free Travel Solution. | | |Key Features | |Completely Halal Shari’ah Approved. |Renowned Travel Agent’s on Meezan Banks panel | |Umrah  Packages for different durations facilities are available | |Complete Visa Processing and Umrah Package Arrangements by selected agent. | |Confirmed return airline tickets | Labbaik Saving Aasaan Account On agreeing to become a Labbaik Saving Aasaan Account holder, you will enter into the relationship of Mudarabah with the Bank. Under this relationship, you will be the Investor (or Rab-ul- Maal) and the Bank will be the Manager (or Mudarib) of the funds deposited by you in the Deposit pool. These funds will be utilized by the Bank to provide financing to customers under Islamic modes of financing, including but not limited to Murabaha, Ijarah, Istisna and Diminishing Musharakah. Meezan  Labbaik Saving Account can be opened by Individuals, Sole-Proprietorships, Partnerships and Limited Companies. Key Features †¢ Meezan Labbaik Savings Aasaan provides a number of features including: †¢ Available for individuals, where customers can open a single / joint account with family members †¢ Labbaik Saving Plan is available for six (06) months to twenty (20) years †¢ Labbaik Saving Account is a Pak Rupee account †¢ It will be a Recurring Deposit Account, where customers will deposit monthly contribution as per the deposit schedule plan Labbaik Saving Account is a non-chequing account, where no cheque book or VISA Debit Card will be issued †¢ Apart from regular monthly deposit contribution customers can deposit additional amounts in order to complet e the deposit amount and make the make the desired journey earlier than initially scheduled †¢ After completion of the desired deposit amount, customers will have a right to travel with Meezan Bank or redeem his funds to go with an alternate company or utilize the funds for alternate purposes †¢ No pre-mature withdrawal schedule will be applied †¢ Customers may redeem 50% of the contribution as per defined procedure, one-time in the entire deposit tenure. Functional Departments Of Meezan Bank †¢ Sales †¢ Credit Inniation (CIU) †¢ Risk Management (RMU) †¢ Credit Administration (CAD) †¢ Collection Recovery 1-SALES Sales is the most important and fundamental function of Revenue generation. They approach the customers through, ? Direct Sales ? Dealers reference ? Branch Customers ? Branch Coordinators ? Telemarketing Functions Of Sales Department †¢ Create marketing strategies to achieve sales targets of a bank. †¢ Implement best practices to meet customers needs and requirements. Implement best practices to meet customers needs and requirements. †¢ Initiate customer retention strategies and build new customers Lead, direct and mentor sales and marketing teams to achieve hundred percent outcome. †¢ Initiate campaign strategies for bank products and services †¢ Resolve customer needs. †¢ Understand customer financial needs and objectives. †¢ Recommend appropriate financial produc t or service to the customer. †¢ Assist and support bank management in delivering customer services †¢ Prepare sales and marketing statements and reports for the top management of the bank. 2-CREDIT INNIATION UNIT It is obvious that  every bank must have an independent department that deals with the credit function. Department in a bank that evaluates the financial condition of credit applicants and maintains a log of loan payments on currently outstanding loans. Credit information is gathered on a confidential basis and stored for future reference. The credit department also responds to requests by other lenders for credit information on a particular borrower CIU makes the case, Reveiw the case, Assess the potentials of the client to repay the assets value, check the opinions and worth of the compamy. 3-RISK MANAGEMENT UNIT MEEZAN BANK’S risk management policy rests on its sound and Islamic bank management culture and complies largely with international Islamic Banking standards, management requirements, corporate governance principles and carries with it the highest ethical values from within the banking profession. The Organizational Structure of the Risk Management Group. The bank has set in place an independent risk management function within The Risk Management department, covering all risks: market, credit and operational risk. The Head of Risk Management reports to the Audit Committee, whose members are chosen among the Board of Directors. The Board of Directors formally approves overall risk management strategies and the direction of business. The Board regularly monitors the banks financial performance, reviews and controls risk management activities and bears the final responsibility of approving the banks risk appetite. Risk Management Department is the center of performing this function. This department reports to the Bank’s Risk Committee, The Head of Risk Management Group. 4-CREDIT ADMINISTRATION DEPARTMENT Leads centralized credit administration and control department whose function is to provide a uniform and efficient credit administration and control service encompassing completion of security/transaction documentation formalities, safe custody function, MIS development for monitoring of banks exposure from different risk angles to ensure that a high level of credit administration support is provided to the bank’s business units to protect banks risk assets. ? Reveiw the case ? Makes observation ? Disburse The Case ? Generate Installements ? Prepare Legal doucuments Agreements Principal Duties Responsibilities: ? Manage the Documentation and Limits Control Units Prepare accurate documentation of credit facilities to ensure that the same is legally enforceable without lacunas. ? Review security/transaction documents with a view to make it convenient for customers without compromising banks interest. ? Manage effective and efficient safe custody of original security/transacti on documentation and title deeds etc belonging to clients/third parties. ? To ensure that safe custody procedures are meticulously implemented. ? Ensure credit documentation deferrals are effectively followed up with Business Units for perfection within the time allowed. ? Arrange the valuations, from bank’s approved evaluators, of real estates held as collateral in line with Credit Risk Policy. Maintain marked to the market valuation for shares, mutual funds and other marketable securities and advise to business units where and violation of Approval of Finance / Credit Risk Policy occurred. ? To follow up with Business Units for early execution of documentation by clients. ? Immediate and accurate feeding of limits into the system once security documentation is completed by the client. ? Ensure least Turn Around Time (TAT) in line with SLAs with business units. ? Generate / Maintain MIS to monitor the portfolio and to prompt Business Units for timely completion of annual rev iews by providing necessary reports regarding expiring/expired facilities. ? Prepare weekly/monthly Exceptions Report   and circulate daily Overdrawn / Excess Over Limits report to the senior management and business units. Upload the accurate data as per the requirements of regulator. ? Managing and guiding team to execute above responsibility and help in their professional development. ? Managing specific tasks / projects assigned by the CRO from time to time in relation to Credit Administration Control. 5-COLLECTION RECOVERY DEPARTMENT (To Save The Bank’s Assets) The Recovery Collection function is an important component of any Bank’s business operations. The key is knowing when and how to accomplish the sale safely. The key is to  find the best way to minimize the risk of late payment or non-payment by customers. The core activities of the collection department include: †¢ Accelerating cash flow Minimizing bad debt losses †¢ Reviewing and approving new accounts †¢ Developing and updating  credit and collection policies †¢ Managing the collection function †¢ Maintaining current information in the credit file on each active customer †¢ Researching and resolving disputes and deductions that would otherwise delay or prevent payment of accounts receivable †¢ Communicating with other departments within the Bank. †¢ Safeguarding the companys investment in accounts receivable BUCKETS †¢ SMS ALERTS †¢ FRONTEND †¢ MID RANGE †¢ HAND COURT †¢ NON PERFORMING LOAN SMS ELERTS Before due date Sms are sent to the customers. FRONTEND One day past, the payment become Overdue. Frontend is the period from 1 to 29 days. An INTIMATION LETTER is sent to the customer by the bank as a soft reminder and Calls are made. MID RANGE / HARD COURT When overdues are not cleared by the customer within 29 days, Customer entered into 30+ DPD ( Day Past Due) Mid range is the period of 30 days to 59 days. REMINDER LETTER is sent to Customer. Home Visits are made. Tone is changed from soft reminders to aggressive one. NON PERFOMING LOAN 60+ DPD, 60 to 89 days of due payments are called Non Performing Loans. LEGAL NOTICE sent the customer with the time frame of 15 days to settle the payments. After that time limit, bank have the right to Repossess the vehicle. In case of reposession, Bank take the services of Agencies as 3rd party, after reposession Vchile is parked to the warehouse and FINAL LETTER is sent by bank to the customer. In which Total Amount including total purchase price, Over due Rentals, Surcharge amount, Valuation, legal, Parking and deduction of Security Deposit is mentioned. Where customer is offered to settle the account. But if customer fails to settle his account then Banks has options to sell or Auction the vehicle. A file is maintianed, called Repo File. It consists of †¢ Reminder Letter †¢ Copy Of Legal Notice †¢ Lease Agreement Copy †¢ Complete Exise File †¢ Copy Of Customer’s CNIC †¢ Application Form Coppy RECOVERY After 90 days customer entered into 90+ DPD. And Non preforming Loan shifted to Recovery.

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Diabetes Essay Example | Topics and Well Written Essays - 2500 words - 1

Diabetes - Essay Example In order to reach stern measures, a well thought-out primary and community care is required. 15 years ago responsibility for care of the people living with diabetes has moved away from hospitals to primary care (Goyder, McNally, Drucquer, Spiers & Botha, 1998). Throughout this period, general tests have been established that when regular analysis of patients is ascertained, the quality of primary care can be as good as the hospital or can even surpass hospital outpatient care in the short-range of time. There are a number of outlines and diabetes management plans that have been formulated globally to advance diabetes care in the community. In contrast, empirical information indicates that conformity with diabetes clinical practice suggestions is insufficient in primary care and a huge population of patients living with diabetes remains at high risk (Goyder et al., 1998). As a result, a diverse range of involvements targeted at advancing the provision of diabetes care and acquiring a better metabolic management for patients living with diabetes have been put into practice. ... This is for the reason of trying to advance the management of patients living with diabetes in primary care, outpatient and community situations. The media is seen as an advocate of this trending issue, diabetes. The media strives to create awareness of the disease and fosters on lifestyle change. Above all, the media enforces the need to come up with a decisive primary and community health care for the patients living with diabetes. This is clear by the extent which heath care policies are mentioned in the articles and further the way nurses are mentioned in the quest to point out effective health care programs. It is evident that the media can influence the public’s opinion on a public health problem like diabetes. The media as seen in the chosen four articles published in The New York Times, USA Today, The Washington Post and The New York Daily News, influencing the opinions of the members of the public on the significance of diabetes as a problem and provides room for find ing what should be done about diabetes. In an article published on New York Times, In Diabetes, a Complex of Causes (2012) Amanda Schaffer states that, â€Å"Early on in type 2 diabetes you may be able to reverse the disease with lifestyle changes.† In the USA Today, Worried about type 2 diabetes? Walk after every meal (2013) Nanci Hellmich indicates that, â€Å"If you're at risk for developing type 2 diabetes, then take a 15-minute walk after every meal.† In an article published on New York Daily News, â€Å"Now you've got even more good reason to eat a heart-healthy Mediterranean diet. A new study finds that middle-aged women who do so may live a healthier, longer life.† (2013). In an article published on The Washington Post, â€Å"Yes, the nutrition advice

Information Managment Case Study Example | Topics and Well Written Essays - 1000 words

Information Managment - Case Study Example However, these retailing powerhouses have weaker market presence in areas where Pamida is located thus creating a competitive, first entrant and first mover advantage for the company. (Porter, 1985) ShopKo has implemented a systems application called Markdown Optimizer in order to deal with pricing of a product according to season, store location, local tastes and past demand. The software analyzes historical pricing plus sales data in order to control and price product leftovers of individual stores. Pamida overhauled its inventory management systems in order to address product shortage from its different stores. It has implemented a full service distribution system in three warehouse locations. Initially, the company experienced setbacks and low earnings caused by the implementation of the new distribution system. This was due to a inappropriate allocation of resources where Pamida focused on new technology infrastructures and new merchandising software without modernizing their back-door operations. The warehouse management system was old, inflexible and outdated. The functionalities and features of the software were not anymore aligned to the new business strategy and it cannot cope up with the growth of the company's demand. The company normalized its distribution operations when it has utilized and employed a better and flexible distribution system software. Results and Business Benefits The ShopKo operations have benefited a lot from the new application. The Markdown Optimizer increased the gross margin and decreased its payroll costs from the previous year. Importantly, it has dramatically decreased the percentage of unsold goods at the end of each season. With these benefits, the net profit of ShopKo has increased. On the other hand, Pamida performed well by maintaining a high in-stock availability of merchandise through effective warehousing, efficient distribution and modernized information systems. At the end of 2001, Pamida has turned around its operational setbacks and implemented a functional full service distribution system.. They had become successful such that the company has decided to consolidate its distribution at two centers instead of three to further save on costs. Key Learnings Information systems strategies should be aligned with the business strategy of a company. It must not focus on modernization of infrastructures alone. It is important for IS to give value to the company and compliment the business goals. As part of strategic management, information system's role in the decision making process has become very important in the organization. It functions both as support and driver of corporate strategies.(Pearlson, 2001) An effective information system needs a valuable and useful symbiosis with the rest of the management structures in an organization.(Turban et al, 1999) Case 2: What Happened to Kmart Background Kmart was the largest discount chain in the retail industry. It was established in 1962 and has expanded to 63 stores at the end of 1963 through their introduction of discount stores.

Theme 3 Essay Example | Topics and Well Written Essays - 750 words

Theme 3 - Essay Example change process within an organization, and thus there is a lot that the management can do to enhance the success of the change process (MartinÄ iÄ , 2010:82). In arguing for the assertion by (Mullins 2010: 753), that the management has little it can do about resistance to change, it is apparent that the management cannot force change on the organizational stakeholders such as the employees, considering that change has to emanate from within (Shao-His, Ying-Fang & Shao-Wen, 2012:747). Whenever change is externally driven, it will result to resistance and where resistance is not apparent, the change process will be sabotaged by those opposed to it, or they may quit where it is apparent that change must occur. The problem with this is that, the organization may lose its valuable assets in the quitting employees (Phillips, 1983:191). Nevertheless, to argue against the assertion by (Mullins 2010: 753), it is apparent that the management can do a lot about resistance to change within an organization. This principle can be demonstrated well by the case â€Å"Remaking JC Penney’s Organizational Culture†, where Myron E. Ullman, who was appointed to the position of the chairman and CEO of JC Penney Corporation in 2004, had an elaborate plan on how he could introduce change to the organization, through making the organization a great work place for the employees (ICMR, 2007:2). However, he was faced with a lot of resistance, considering that the organization had a culture of rigidity and formal employee relationship spanning over the past 100 years (ICMR, 2007:2). The rigid rules of addressing the managers formally and dressing strictly in accordance with the organizational dress code had made the environment in the organization tense. This resulted to the inability of the organization to attract new talent or retain new recruits, while the employee turnover increased (ICMR, 2007:3). Nevertheless, after Ullman and the newly hired human resource manager, Michael Theilmann

Cultivating Entrepreneurial Mindset And Skills Commerce Essay

Cultivating Entrepreneurial Mindset And Skills Commerce Essay Entrepreneurship is not merely starting a new venture, it is a mindset. It requires a certain level of skills to be an entrepreneur. Some people are born with this mindset, others hone their skills and attitude through education. In the present scenario, the aim of education is to attain a job in a reputed company with a hefty package. Education is ending up with a good placement. After placements there are two possibilities. Either the student does not get the desired job or he does not fit into the criteria of the organisation. Any of these situations leads into unemployment or dissatisfaction from job resulting into frustration and suppression of the skills of the student. The need of the hour is to imbibe attitudinal traits of positivity, motivation, innovation, open-mindedness, telescopic vision and a balanced approach towards life. These are the traits of an entrepreneur. An entrepreneur is a person who can face challenges, a risk-taker, a decision-maker, an innovator, a visionary, a leader, one who can build consensus and lead from the front. We need employees, who have this attitude, so that they can fit in the structure of an organisation, who can make a strong foothold with their work, who can turn the tables in their favour, who are passionate and dedicated towards their work and who have the courage and determination to face what may come. Such employees are an asset to and add to the growth of the organisation they are associated with. Moreover, if such individuals setup their own ventures, they add to the overall growth of the economy of the nation. As is well known that the MSME (Micro, Small and Medium Enterprises) sector forms the backbone of any economy, the development of this sector will result in the propulsion of the economy. Whether it is an employee or the owner of a business, the existence of entrepreneurial mindset and skills is a requisite. This can be a hereditary trait or can be developed through apposite education. If the education system develops this attitude and skills in the students, they can change the face of the earth with their innovative ideas and vigorous energy. This puts an added responsibility on the management institutions which are at the core responsible for teaching management skills to the students. The management institutions and the faculties need to create an environment which is suitable for the next generation entrepreneurship crop. The right platform and environment can help the students develop entrepreneurial mindset and skills that will enable them to be better employees and owners of businesses. The hidden talent and skills of the students needs to be identified and honed to perfection. The management course should not only teach the skills of managing a business but a lso cultivate the desired attitude and mindset leading to change in overall persona of the student. ENTREPRENEURSHIP IN INDIA As is rightly said, necessity is the mother of all invention, in India basically we have need based entrepreneurship. The examples are numerous; from the known faces of Dhirubhai Ambani, Indra Nooyi to unknown faces of Remya Jose for the foot pedal washing machine, Sheikh Jabbar for the geared rickshaw, Raghav Gowda for innovating the milking machine, Ashok Kumar for the tea making machine, Balram for remote controlled burning of crackers, Usman Shekhani for bamboo peeler, Appachan for tree climbing apparatus, Md. Saidullah for the amphibious bicycle, and many more. Mahendra Singh Dhoni (Captain Indian Cricket Team), Kishore Bayani (Future Group), Sabeer Bhatia (Hotmail) and Anil Agarwal (Vedanta) are entrepreneurs in their own settings. All these people, whether they are owners of big successfully running businesses or are into occupation or are sportsmen or are from rural backgrounds with not even basic academic credentials, have similar traits like innovation, leadership, courage, guts, determination, ideas, execution, self-belief, hard-work and the desire and passion to translate their dreams into reality. The small and middle enterprises set up by the entrepreneurs form the backbone of the economy. According to a report Empowering SMEs for Global Competitiveness released by Small and Medium Business Development Chamber of India, Small and Medium Enterprises (SMEs) play a vital role for the growth of Indian economy by contributing 45% of industrial output, 40% of exports, employing 60 million people, create 1.3 million jobs every year and produce more than 8000 quality products for the Indian and international markets. SMEs Contribution towards GDP in 2011 was 17% which is expected to increase to 22% by 2012. There are approximately 30 million MSME Units in India and 12 million persons are expected to join the workforce in the next 3 years. SMEs are the fountain head of several innovations in manufacturing and service sectors, the major link in the supply chain to corporate and the PSUs. By promoting SMEs, the rural areas of India will be developed. SMEs are now exposed to greater opportunities than ever for expansion and diversification across the sectors. Indian market is growing rapidly and Indian entrepreneurs are making remarkable progress in various Industries like Manufacturing, Precision Engineering Design, Food Processing, Pharmaceutical, TextileGarments, Retail, IT and ITES, Agro and Service sector. The government of India is taking efforts to promote entrepreneurship. Following are some initiatives taken by the Government of India, Entrepreneurship cell in various educational institutions and universities of India Aim of the E-cells is to guide and motivate the students towards developing entrepreneurship skills They organize panel discussions, conferences, workshops, lectures, camps and competitions periodically to generate awareness about entrepreneurship Helping budding entrepreneurs during their start-up phase by mentorship programs Channelizing creative ideas to successful ventures Organizing annual events like Global Entrepreneurship Summit, Ventura Networking with investors to provide opportunities for viable projects and industry to provide them experience and ability to face the challenges Case studies, interactions with alumni entrepreneurs and business plan competitions Entrepreneurship Development Institute of India (EDI), Ahmedabad, promoted in 1983 by All-India Financial Institutions viz. IDBI Bank Ltd., ICICI Ltd., IFCI Ltd. and SBI with active support from the government of Gujarat. It is a national resource institution committed to promoting entrepreneurship through education, research, training and institution building. The organisation believes that entrepreneurs need not necessarily be born but can be developed through well conceived and well directed interventions. They provide learning programmes, various courses related to entrepreneurship development and provide support for research activities in entrepreneurship. They aim to empower rural artisans, rural industries and village cluster industries. They provide gender sensitization training for personnel of corporate sector to promote women entrepreneurship. Apart from the government agencies, there are other organisations that are working to promote entrepreneurship. Some of them are as follows: TiE, The Indus Entrepreneurs, an association of venture capitalists that was founded in 1992 with the aim of fostering entrepreneurship globally through mentoring, networking, and education. They have various programmes like TiE Young Entrepreneurs (TYE) program and TiE Womens Forum. It is spread over 14 countries. They provide one-on-one mentoring from successful business owners. TiE has chapters in India in cities like, Ahmedabad, Chennai, Bangalore, Chandigarh, Bhubaneswar, Chandigarh, Coimbatore, Delhi, Hubli, Hyderabad, Kochi, Pune, Patna, Kanpur, Jaipur and Nagpur. The chapters of TiE are customized based on the need and requirement of that region. National Entrepreneurship Network (NEN), an initiative of Wadhwani Foundation, is a non-profit organisation established in 2003 has a mission to create and support high-growth entrepreneurs, driving job creation and economic growth in India. NEN was co-founded by IIT Bombay; IIM Ahmedabad; BITS, Pilani; SP Jain Institute of Management Research, Mumbai; Institute of Bioinformatics and Applied Biotechnology, Bangalore. NEN is a community of new and aspiring entrepreneurs and has a base of 70,000 members in 30 cities. It provides support to budding entrepreneurs through entrepreneurship education, access to mentors and experts from industry, access to incubation, funding, learning material and tools. About 470 top-tier institutes in India are partners with NEN to facilitate in development of entrepreneurial mindset and skills on campus. It also runs Entrepreneurship Week India, an entrepreneurship-awareness campaign. These organisations are working towards developing entrepreneurial mindset and skills of students in colleges, universities and various other institutes. They are providing on campus support through collaboration with various universities, colleges and institutions and helping students directly or indirectly to develop entrepreneurial mindset and skills. The increase in the number of these organisations and appropriate dissemination of information will greatly help in the development of the required mindset. These organisations have to reach small cities and touch the students at the grassroot level. IMPORTANCE OF ENVIRONMENT To evaluate the importance of environment let us look all around us and observe nature. The seeds of a plant find their way to soil by various mechanisms and wait in dormant stage for the rains and the right temperature. The seed waits for the right environment and then sprouts. All seeds of a plant are similar, but the once that get the right environment flourish, the rest shrivel. It is all about the right kind of environment that nurtures the plant. Nature gives suitable environment. In a forest all the activities take place in perfect symphony, nature does the balancing act. In animal kingdom, the colony and social interaction of ants is a classic example of how nature teaches them to live and work together. Similarly, honey-bees with their Queen bees, drones and worker bees work in perfect synchronization with each other. Nature teaches them to survive, grow and develop. The team spirit of dolphins, the love and anger of monkeys, all is naturally learnt by nature. Human-beings are also natural learners. We have also learnt so many things from nature, for example, invention of injection has taken inspiration from biting of mosquito. The art of Kungfu has been developed from actions of our daily lives. We made urea, artificial fertilizer by taking inspiration from the nodules of leguminous plants that bind nitrogen to provide natural fertilizers to the plant. Similarly, Appachan could innovate the tree climbing apparatus because of the environment he lives in and Md. Saidullah could make the amphibious bicycle because he wished to meet his love who stayed across the river and he didnt like to wait for the boat. Entrepreneurship is innate. This is true but this is also equally true that entrepreneurship can be cultivated by the right environment and need. In the examples stated above, nature has given an environment to the persons. They did not have any academic credentials to boast of, neither they had the resources for research, but then also they were able to innovate because nature gave them the environment and generated the need for innovation. Moreover, human brain is the most fertile on earth that is always overflowing with ideas. Innovation, out of the box thinking has brought us from the Stone Age to the techno savvy age. Whatever technology is today is due to the innovations of yesterday. Nature relates to management science. Just as nature provides the environment for innovation, similarly we can create an artificial environment for cultivating the mindset and skills imperative for entrepreneurship. We need to apply it in education. The management institutions and faculties need to generate entrepreneurs. Everything can be learnt by giving the right kind of environment. The combination of right time, right environment, right place and right person can only bring about true entrepreneurial success. The fact of need based innovation does not only hold true in rural settings. Entrepreneurs like Sabeer Bhatia (Hotmail), Steve Jobs (Apple Computers), Steve Wozniak (Apple Computers), Buchheit (Gmail), Max Levchin and Peter Thiel (PayPal) also have done innovations when they got the right environment (case studies in Appendix 1). It is prudent to note that many of them did not have the required skills of their jobs and businesses but they had the right environment and so they learnt the skills and developed entrepreneurial mindset and became successful entrepreneurs. After reading these case studies we realize that we are all capable of training ourselves provided we get the right kind of environment and have the motivation to do something. ROADBLOCKS AND CHALLENGES In India students have a misconception that by scoring higher percentage by any means will result in better job opportunities. Students link percentage directly with intelligence and job prospects. In practical life, this is not true. The biggest challenge is the attitude of the student. The students generally have the IKIA (I Know It All) attitude. They are not exposed to the real working scenario in industries and corporate sector. The students in undergraduate and post-graduate courses believe that getting a descent placement is the end all and be all of education. The importance of attitude building is not understood by the students. Moreover, they pose a high degree of resistance to change. Neither they wish to change their perception nor do they wish to improve themselves in attitude. Their passive behaviour makes it difficult for any entrepreneurship related activity or program to make an impact on them. There are various stages in entrepreneurship namely, idea, innovation, prototype, finance, resources, consent and then commercial production. A person cannot be equally knowledgeable in all the fields, he / she can have expertise in one field and may be lacking in others. We need to device a methodology that caters to all the aspects of a personality to carve out a perfect entrepreneur. Timely dissemination of information is not done. The information about government schemes, activities and events related to entrepreneurship, initiatives by venture capitalists do not reach the students at the proper time. The absence of adequate and timely financial aid, inadequate capital and knowledge, dearth of suitable technology, struggle with the production capacity, unsuccessful marketing strategy, identification of new markets, limitations on modernisation expansions, non availability of skilled labour at affordable cost, support of various government agencies to solve problems etc. prove to be roadblock for the budding entrepreneurs. Lack of awareness about schemes, government policies, loan methods, bank schemes, legal processes, paper work, documentation, etc. make the students hesitant and scared in taking up steps to establish their own venture. Students do not have any idea about these issues. They should be aware about these issues and should have knowledge of these sectors. This will give them the required base for decision-making. As is rightly said, knowledge is power. We need to give them the environment that equips them with tools, knowledge, and awareness and gives them the confidence to take effective decisions. Sanctioning of loans, long and tedious procedures, requirement of venture capitalists, guidance, trademark, patent and copyright related issues, research and development, society support, support from government departments, banks and other financial institutions and corporate sector are factors that prove to be handicap in development of entrepreneurial skills and mindset. The major ingredients for success in developing entrepreneurial mindset are need, opportunity, desire and passion. Figure 1 SUGGESTED METHODOLOGY In education sector we have variety of students available and wide range of education institutes are available to cater them. Students studying in colleges are at the best level of understanding as they wish to grow higher in life. If job-oriented environment is provided to them then the students will consider job as their final objective. If the environment of entrepreneurship is provided then entrepreneurs will be generated. It is imperative that cultivation of entrepreneurial environment is done to prepare a breed of students with entrepreneurial skills and mindset. To develop or cultivate mindset of an entrepreneur in education sector, we have three stakeholders majorly, students, management institutions and faculty associated. We have variety of students available with different mindsets, coming from different educational backgrounds like science, arts, commerce, engineering, management, etc. They have different understanding of the subjects. Faculties are at the grass root level who know and understand their students. The management institutions provide facilities and resources for the generation of desired environment. Together they can create an environment fertile for the development of seeds of entrepreneurship. They can have the entrepreneurial workshops in their institutes, seminars related to the creativity and innovation, guest lectures by successful entrepreneurs, associations with organisations like TiE, EDI, etc., develop E-cells in their institutes, etc. For financial facility they can have National and Pvt. Banks along with venture capitalists. All the above mentioned methods are being followed by many colleges. These methods are general methods that will make the student aware of the skills and attitudes and will also help to cultivate them. But, none of these methods is parametric, none of these methods measures the presence or lack of the traits on a certain scale and none of these methods is individualistic in nature. We need a method that precisely delivers the information about the measure of each and every trait in each individual and has person specific methods to enhance the desired traits. Each individual is different and so the methods applied for the development of attitude and skills should also be different. When the attitude and skills of entrepreneur are developed then only mindset will cultivate. The power of skills, knowledge and the right tools promote the development of the right mindset. Such methods are used in army training camps and entrance tests conducted for army wherein each skill of an individual is tested on a scale by using various forms of assessment techniques. For developing entrepreneurial mindset, the education sector will also have to develop such a rigorous and accurate method for measuring each skill and attitudinal trait. The suggested methodology is, Develop innovation and creativity. Give the students some situations to think upon. Use simulation and case study methodology. For example, divide a batch of 60 students into groups of 10 students. In each group put them into a situation / task and silently observe them through glass walls or CCTV cameras. Record the full session for future reference. Identify the behaviour of each student according to entrepreneurial skills, for example, extrovert, introvert, team-member, initiator, motivator, leader, etc. Out of these 6 groups, we have approximately 10-15 students who are highly motivated, extrovert with leadership skills and rest of them having average or below average skill set. The next task after identifying skills of each group or person is to device methodologies to work upon and improve the skills upto the optimum level. The sessions need to continue with different kinds of situations / tasks so that different behavioural aspects of the individuals are visible. Introduce them to different sectors and situations, expose them to live projects and assign exercises that would find the loop holes. This will help in identifying the potential personality traits like leadership, team-spirit, initiative, team-builder, team-member, thinker, moderator, marketer, etc. Next, we have to develop the traits into more specific traits. The recordings should be done of each session to measure the change in bahavioural pattern of each individual and the group as a whole. After achieving the optimum level, students are having greater acceptability and better understanding. Continue the segmentation process / funnel process for choosing students. The refined ones will be segregated from the rest. Device specific methods to deal with each segmented group and each member of the group. Finally, the last lot will be remaining. Give them such an environment that they will also be motivated to think like the successful ones, the forerunners. After getting at optimum level, throw the light of knowledge of each and every aspect of entrepreneurial development like financial part, Research and Development, marketing, government grants and schemes and legal issues like trademark, copyright, patent, successful entrepreneurial theories, etc. A person after knowing all aspects of entrepreneurial development can have a better stand from traditional entrepreneur. The traditional entrepreneur have the hidden talent, they are able to discover only one talent and not able to polish all skills. In the modern entrepreneur, we are touching and polishing all skills and giving the right kind of environment to develop. This methodology is a systematic psycho-analysis based methodology for better and deeper understanding of a persons skills and attitudes. By using tools like: Test series Interview Role play Real life situations Story writing Essay writing A concept wherein the individuals each action, word and emotion is being monitored (as in Big Boss) Lecture Meditation Picture Analysis Mind games Perception Handwriting Analysis Games that force us to think out of the box, best possible ways to do things and develop alternatives. The main processes of this methodology are Identifying Segmenting Targeting. The major part of the study is governed by perception and assumption of the observer about the participants. Any false negative and false positive perception would lead into wrong decisions. As a result, we could skip the deficient skill in a person and result in incorrect stress on other skills that require less attention. We are performing 10-12 tests on an individual in a group with numerical tabulated results, then further discerning the overall trait score by applying appropriate statistical measures. This kind of approach would result in unbiased opinion about the entrepreneurial mindset of an individual. Figure 2 FUTURE The suggested methodology needs to be experimentally tested at school and college level. More and more researchers need to come forward to take up this study to add and extend it. Government and private agencies should support such experimental studies so that we can generate refined individuals with entrepreneurial skills and mindset. This methodology will yield into highly motivated, energized, aware and knowledgeable individuals who are capable to cater the needs of the society and will form the backbone of Indian economy. Development of such mindset will result in faster growing economy with more business opportunities flourishing. Our dependency on MNCs will shrink and we will be a self-sustained economy. The right mindset of the youth has the power to make India a super-power. CONCLUSION This research paper analyses the entrepreneurial mindset in India and suggests a novel methodology to create an environment of entrepreneurship. This study needs experimental base and needs time to set standards. It needs equal contribution from students, faculties and management institutions. After successfully completing the study, we have clear-cut demarcation of skill of each individual with an idea and scope of improvement in each each individuals skill. Then we can concentrate on each skill of each individual for improvement.

Conflict with Authority in A Midsummer Night’s Dream Essay -- Midsumme

Conflict with Authority in A Midsummer Night’s Dream Throughout A Midsummer Night’s Dream the theme of conflict with authority is apparent and is the cause of the problems that befall the characters. It also is used to set the mood of the play. The passage below spoken by Theseus in the opening of the play clearly states this theme. Be advised fair maid. To you your father should be as god- One that composed your beauties, yea, and one To whom you are but as a form in wax By him imprinted, and within his power To leave the figure or disfigure it - A Midsummer Night’s Dream (1.1.46-51) The first example of conflict with authority in the play is the premiere example and sets up the conflict for the rest of the play. This example that occurs during the play is in the opening scene of act 1. Here we see Theseus warning Hermia not to disobey her father and advising her that Egeus created her and can "discreate" her if he chooses. Hermia is reminded that Athenian law provides that a father shall have total control of his daughter’s life until the daughter is married. Even though Hermia does not want to marry Demetrius, the law says she has no choice and must conform to her father’s wishes. If Egeus’s authority hadn’t been the supreme authority, than Hermia and Lysander wouldn’t have had to flee Athens for their love. The other major example of conflict with authority is also partly responsible for the friction that occurs in the play. This example occurs in the fairy world between Oberon and Titania. Oberon, as king of the fairies, is the supreme authority in the fairy world. Therefore, by disobeying him, Titania is defying her supreme authority. Her disobedience causes the conflict in nature that is apparen... ... on the mood. Through Theseus’s speech to Hermia, Shakespeare introduces and establishes a central theme that is readily apparent throughout A Midsummer Night’s Dream and he also uses this theme to establish the central mood of the play. Theseus reveals the central theme of the play in the opening act, particularly in the lines being examined, and we see this theme throughout A Midsummer Night’s Dream. It occurs in three different situations and is carried on throughout the rest of the play. Shakespeare also uses this theme to create the mood of the play. In this way the passage spoken by Theseus becomes a pivotal point of the play. It serves as the introduction of the central theme of the play and also as the main device Shakespeare used to set of the mood. Shakespeare uses this passage as a starting point for the direction that the rest of the play will take.

Latest Coral Disease

Coral disease is a disease found in coral that caused by an algae that grown in the reef tank. There are many identified coral diseases and its causes. One of which is white plague type II. White Plague Type II disease in corals is triggered by the direct contact of coral with macroalgae halimeda puntia. Nugues, claims that this disease causes the widespread death of corals that occur with heavy growth of macroalgae. Cited in Nugues. Et al; www.practicalfishing.co.uk. Macroalgae is said to be the responsible for many coral diseases that if not controlled, it will also lead to coral death. Other identified cause of coral disease is coral bleaching or white syndrome. With this disease, coral looked bleached which caused by the high sea temperature that led coral to eject the symbiotic algae that produce food for the coral. Coral bleaching makes the coral weaker and more prone from attack of diseases. Extreme heat, due to global warming caused this coral bleaching because heat can trigger the virus in zooxanthellae, which is known for food production of corals. As the sea temperature becomes more heaters, more severe coral diseases are also expected to arise. This syndrome can treat and prevented if the sea temperature gets colder. Aside from warm temperature, overcrowding of corals also brings white syndrome. Researchers found out that the syndrome increases its rate from 1998, increased 20-fold in 2002, not just due to warm temperature but also because of overcrowding of corals. Researchers found out that corals can not breath and grow properly if they are closely tight with each other, and they are more prone to diseases. Widespread of disease easily occur if they are too close with each other. There are also other five identified coral diseases and their causes aside from the diseases mention earlier. One is brown band. Dense population of single-celled organism called ciliates causes brown band. These ciliates are hairy organisms that eat the food of coral known as zooxanthellae, it appears as brown jelly that cause disease to corals. Second is black necrosing syndrome. Coral appears to be dead with this kind of disease. Black patches eat away the tissues of corals that leave in white skeleton. It is actually found out in many gorgonian corals in Northern Great Barrier Reef. Third known disease is the pink spot. Pink spot is caused by the larval stage of the parasitic flatworm; which has three life stages that is parasitic on a mollusk, and affects the tissues of corals, which makes sensitive to predation by butterfly fish. However, healthy polyps regenerate from coral once the butterfly fish eats affected polyp. Fourth is Coral Tumor. These Tumors are formed by groups of polyps with increased growth rates. Corals affected with this disease appear to have spherical lumps raised about 4.5 cm from the surface of the coral. This tumor affects the reduction of function and growth of corals. There is a little known spread of numbers of this tumor and it is only monitored in Heron Island. The fifth known disease of corals is black band disease. This disease is associated with cyanobacteria. Coral with black band disease looks healthy in front but dead and look white behind. This band can move across coral colony at rate of 44mm a day. Scientist first coral disease observed this disease last 1973. The sixth and last identified coral disease is the Skeletal Eroding Band. It is similar to black band disease. However, this disease produces a white skeleton speckled with empty black shells of the ciliate, which causes diseases that disrupt the process of secreting protective shells or loricae. Work Cited: Coral Diseases. www.altavista.com/coraldiseases Latest Coral diseases. www.google.com . .

Pretests Effective Tools to Target Instruction

Pretests Effective Tools to Target Instruction At every grade level, and in every discipline, teachers need to know what their students know and can do before beginning a new unit of study. One way to make this determination is to use a pretest that  assesses student proficiency in the skill(s) that will be taught in a unit.   The design of that effective  pretest can be  developed using a process of backwards  design  that was popularized by educators  Grant Wiggins  and  Jay McTighe  in their 1990 book  Understanding by Design.  The book detailed the idea of  backwards design  which is  defined in the Glossary of Education Reform: Backward design begins with the objectives of a unit or course- what students are expected to learn and be able to do- and then proceeds backward to create lessons that achieve those desired goals.​ Wiggins and McTigue argued that lesson plans  that target student weaknesses  are those which begin with the final  assessment  in mind.  Therefore, before teaching, teachers should carefully review the results, the data, from a pretest. In reviewing the pretest data, a teacher will be able to decide how to spend time in the classroom in teaching a skill set, because there is no reason to spend classroom time on a skill set that students have already mastered. Pretests allow teachers to see the degrees of proficiency students have with the material. There may be different standards of measuring proficiency such as:  below basic, basic, approaching mastery, mastery. Each of these measurements can be converted to a grade (numerical) or grade level standard.   Take, for example, the use of a geography pretest to assess how well students understand the concepts of latitude and longitude. If all students know how to use these concepts in identifying locations (mastery), then the teacher can skip that lesson. If a few students are still unfamiliar with longitude and latitude, a teacher can individualize instruction to bring those students up to speed. If the majority of students, however, are struggling with locating geographic elements using these ideas, then the teacher can continue with the lesson on longitude and latitude. Key Advantages of Pretests Pretests help measure student learning over a period of time. The pretest marks a students level of understanding before instruction while a final assessment or post-test measures student learning. A comparison of pre- and post-tests can  provide a teacher with an opportunity to track student growth in one class or over several years. For example, a  pretest  in linear equations in algebra can be used to see how well one group of students have learned compared to other students in different classes or different school years.Pretests give students a preview of what will be expected during the unit. This pretest is often a students first exposure to key terms and concepts, and the more frequent the exposure, the more likely students will retain the information. For example, a pretest in botany may be filled with terms such as hybrid, stamen, and photosynthesis.  Pretests can be used diagnostically to determine if there are additional gaps in student learning. There may be quest ions connected to the topic that can be a partial review. The results of a pretest may help generate ideas for a future lesson. Depending on the way the pretests are created, teachers might find knowledge gaps that they did not expect. Armed with this knowledge they can make changes to lessons to include further instruction and review. Pretests can be used to measure the effectiveness of the curriculum. Changes in the curriculum may be measured over time using student assessment results on pretests.   Problems with Pretests There is always a concern about the amount and the frequency of testing of students since testing can take time away from instruction. Consider that a pretest generally does not require prior knowledge which means it is not time sensitive. When a pretest is given at the beginning of the unit, and the post-test is given at the end of a unit, the timing can mean a student will need to take two tests back-to-back. One way to avoid this complication of extended testing times is to give a pretest for quarter two/or trimester two in the middle of quarter one/or trimester one.  Teachers should be cautioned that a poorly written pretest will not provide the information necessary for targeted instruction. Spending time creating an effective pretest can improve instruction by recognizing areas of student strengths and targeting  areas of student weaknesses. Creating Pretests Teachers writing  pretests  should always remember their purpose. Since pretests  can be used for comparison to post-tests, they should both similar in format. The same procedures should be used in delivering the post-test as were used in the pretest. For example, if a passage was read aloud in the pretest, then a  passage should be read during the post-test. The passage and questions, however, should not be the same. Ultimately a well-designed pretest will mirror the design and concepts of the final assessment in part and can reveal many gems to the savvy teacher. Pretests should also be reviewed as to their effectiveness in improving instruction. Teacher feedback is critical to the development of good pretests  and is an excellent way for teachers to grow in their field. By providing kids with pretests and using that information wisely, teachers can target students with more individualized instruction- and not teach what students already know.

essay for police essays

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Academic Study Skills Essay Example | Topics and Well Written Essays - 500 words

Academic Study Skills - Essay Example Most academic work involves building on work that has been done by others. The provision of new insights about the specific area of research contributes to the building on what others in the field have done. To build on someone’s work might involve having to use their ideas to come up with your line of argument to support your new idea. It is in this instant of using someone’s ideas to come up with your point of view that it is important to use references. The use of references ensures that people who have contributed work to a particular field get good credit for their work. Besides, one learns to foster intellectual honesty by giving others credit for their work hence avoiding the vice of plagiarism.What is plagiarism and how can you avoid it?Plagiarism refers to the practice of stealing another person’s ideas or writings and passing them off as your own (Clabaugh & Rozycki, 2001, p. vii). Plagiarism is a fraudulent practice as it involves stealing someone's wo rk and then lying about it. Based on the severe nature of plagiarism, it is necessary to avoid it at all costs.One of the ways to avoid plagiarism is to learn the art of crediting the sources one uses. Whenever one uses phrases, data and other information that they did not come up with themselves, then one should give his sources the credit. To get better at crediting sources, one should analyze their sources critically to know exactly which author did what (Clabaugh & Rozycki, 2001, p. 56).

Schizophrenia Research Paper Example | Topics and Well Written Essays - 500 words

Schizophrenia - Research Paper Example hink that schizophrenia may be caused by genetic predisposition, environment, and different brain chemistry and structure; thus, exact cause is unknown and anti-psychotic treatments are usually designed to alleviate the symptoms (National Institute of Mental Health, 2009, p. 6-8). The patient is a 42-year old, single, and black female. Psychiatric assessment of the patient revealed a diagnosis of paranoid schizophrenia, a condition characterized by persecutory or grandiose delusions and hallucinations and excessive religiosity. The patient stated that every night, Oprah Winfrey was climbing through her 5th floor apartment window, trying to force her to write letters so that Oprah could get into her mind and take all the information in her mind such as bank accounts and family history. This assessment illustrates persecutory hallucinations (a positive symptom) characterized by seeing or hearing things that orders that orders the person to do something (National Institute of Mental Health, 2009, p. 4). The patient also believed that she’s a prophet from God that was sent to the world to pray day and night for the people. Again, this is also a positive symptom, particularly a false belief or delusion of persecution of a schizophrenic person, believing tha t they are someone else, such as a prophet or any famous historical figures (National Institute of Mental Health, 2009, p. 4). Another psychiatric assessment that would support the diagnosis of paranoid schizophrenia is extreme religiosity which is also evident in the patient’s condition. The patient verbalized a lot about high heel shoes and missing being in church. In addition, patients with paranoid schizophrenia often have thought disorders (National Institute of Mental Health, 2009, p. 5). For instance, the nurse questioned the patient about relapse prevention and the patient’s answer is illogical to the question and hard to understand stating that her sister will going to take care of her and that she