Reflection on the Group work Essay Example | Topics and Well Written Essays - 1000 words

Reflection on the Group work - Essay Example We were exposed to worldviews and discover alternatives in getting the work done. Extensive discussions and shared of opinions helped to improve our slides and understanding on the topic. In addition, we were able to share our responsibilities and the combination of abilities and skills allowed us to learn from each other and facilitated efficiency and productivity in delivering a quality work. Besides that, we had learnt to respect and understand people from different countries and behaviours thus developing our interpersonal and listening skills. Team spirit which is not available in an individual work has been a great motivation for us to drive our presentation to success and meet the submission dateline. All in all, it fostered our relationship while working together. Nevertheless, communication breakdown occurred occasionally due to difference in language and not all group members were native speakers. There was misunderstanding on allocation of work at the start of the project due to insufficient communication but was quickly resolved through explanations. On the other hand, conflicts were unavoidable for example the choice of research country as each team members favour home countries which they are familiar with. However, we were able to reach a consensus and all members showed their work commitments and provided constructive comments throughout the project. Lastly, it can be time consuming to work as a group as individuals have to come together at an agreed time and there would be free talk among group members which might not be relevant to our assigned task. Additional time spent on resolving conflicts and explaining views had significantly reduced our group efficiency and made it a slow process compared to working individually. I would be more confident in overcoming the difficulties in working in a multicultural group and breakdown the barriers such as stereotypes and prejudices. Additionally, I see communication as the main obstacle thus I would ma ke effort to be more patient and have high tolerance rather than being aggressive. Two-way communication and positive feedbacks are critical to resolve disputes and promote mutual understanding and respect. Besides that, I would be a good team player offering my skills, giving suggestions, be more co-operative and provide assistance to other team members when required. One of the personal weaknesses identified is that I do not have quick adaption to the change in environment or situation. I faced difficulties in communicating and expressing my views to my team members from diverse culture at the initial stage as I used to stay in my comfort zone. Also, there is lack of experience in dealing and handling conflicts and contradictions. My other negative trait would be that I tend to be a perfectionist. I like to work in an organized way and often get frustrated when other group members do not portray the same level of effort that I do. I have set a personal goal seek to overcome my wea knesses. I have decided to join societies and clubs in order to widen my circle of friends with different nationalities and countries to enhance my soft skills and develop my confidence in building relationships. The people skills will nevertheless be useful for conflict resolution enabling me to calm and control the situation besides developing problem solving skills. On the other hand, I would display more patience and accept the fact that all individuals are

The Law and Punishment in 1800s Essay Example | Topics and Well Written Essays - 3000 words

The Law and Punishment in 1800s - Essay Example Felonies were the most common crimes and they attracted a severe punishment than the minor offences. Felonies were either clergyable or non-clergyable . The difference between clergyable and non-clergyable felonies was based on the fact whether the offenders could claim the benefit of clergy or not . The clergy benefited ministers accused of criminal capital offences. The laws required them to be charged by the church, which many a time did not impose capital punishment. Whereas this rule was primarily intended for the clerics, in the later years it was interpreted to include the people who could read and write. However, the courts that were based on church doctrines could not deal with serious crimes like manslaughter. Once accused of a felony the defendants could plead guilty imprisoned for one year and send home rather than killed by hanging which was the case in the most crimes . Initially, the Tudor stature provided the offenders who pleaded clergy committed to one-year incarcer ation and left but this was rarely followed in 1800 . In addition, the offenders were only required to plead clergy once after which they were not eligible to plead clergy again. During the first plead, they could be branded on the thumb as a warning not to repeat the crime and sent home. However, the subsequent crimes were punishable. Thus, the offenders with clergyable offence only got two types of punishments in the first case, the thumb sign and or fine to cover the expenses of the case .

Definition of management

Definition of management Executive summary The constitution of the people in an organization which includes planning, organizing, leading, motivating and controlling at all levels of the management. An introduction to a variety of tools, idea and system that are used to analyze and understand the inside and outside of business environment of a firm. Management In the simple term refers to making things done by others. History The word manage come from the Italian word maneggiare which means (to handle -especially a horse), which in turn derives from the Latin word manus (hand). Later on the French word mesnagement (later menagement) influenced the development in meaning of the English word management in the 17th and 18th centuries. (www.answers.com) (www.encyclopedia.com) FINDINGS:- Definition of management:- â€Å"The conventional definition of management is getting work done through people, but real management is developing people through work† By ‘Agha Hasan Abedi Management is defining both science and art but thats not so important, what important is? Management is a method that is used to achieve organizational objective; that is, a method that is used to attain what a firm wants to achieve. A business can be in any field or entity or any group in which people come together to perform their respective task. Managers are the person to whom this task is given. And thus the managers achieve these goals through the key function like (1) planning, (2) organizing, (3) directing, and (4) controlling. Some of them also include leading as a managing role, but leading is a part of directing. Planning: Planning could include setting of organizational aims and goals. This are usually done by the higher management of the organization and as the part of business objective, then the manager build up the same strategies for attaining the goals of the organization. Organizing: Organizing refers to the technique in which the organization distributes it resources, assigns their respective duties, and goes about achieving its goals. It is shown by an organizational chart; with the three main levels starting with top level (ceo) followed by the middle level (managers and executive) and at last the lower level (workers and labor). Directing: Directing is the process which would everyone relate to supervision. It is supervising, or leading workers to achieve the objective of the business. In many organizations, directing involves making coursework, supporting workers to carry out the coursework, interpreting organizational guidelines, and notifying workers to how well they are acting towards the respective goal. To successfully carry out this task, managers must have leadership ability in order to get workers to execute the work effectively. Controlling:- controlling is a function which involves the valuation of activities that the manager should carry out. It is a procedure of shaping the organization goals and objectives to be met. The process also includes correcting the business conditions for which the purpose and objectives are not meeting. There are many more other activities which are a part of controlling process. Managers must know and set some standards of appraisal for workers. PESTEL Analysis Political factor:- Political issues include government guidelines and legal issues and define both formal and informal rules under which the firm must function. Some examples of political factor include: tax policy employment laws trade constraint and tariffs political permanence Economical factor:- Economic factors affect the purchasing power of potential customers and the firm ´s cost of capital. The Economic condition is influenced by the political and government guiding principle, being a major influence affecting government assessments. The following are examples of factors in the macro economy: Economic growth Interest rates Exchange rates Inflation rates Social factor:- The Social factors comprises of the demographic and cultural phase of the external macro environment. These factors affect customer wants and the size of potential markets. Some social factors include: health consciousness population growth rate age distribution career attitudes emphasis on safety Technological factor:- Technological factors are those factors that can lower barriers to enter markets, reduce minimum efficient productivity levels, and influence the outsourcing decisions. Some technological factors include: RD process automation activity technology incentives rate of technological transform Legal factor:- These are allied to the legal obligation in which company operates. In latest days in UK there have been many considerable legal changes that have affected firms behavior. The introduction of age discrimination and disability legislation, the increase in the minimum wage and greater supplies for firms to recycle are illustration of relatively recent laws that affect an organization. Legal changes can affect a firms costs for example:- Future legislation European/international legislation Regulatory bodies and processes Employment law Consumer protection Environmentalfactor: Environmental factors include the weather conditions and climatic changes that take place. Changes in temperature can blow on many industries including farming, tourism and insurance. There is a major climate change taking place because of global warming and with greater environmental alertness this factor is becoming a major issue for firms to reflect on. Examples:- Ecological Environmental issues Environmental regulations Stakeholder/ investor values Organization structure and its design Organizational design is the process by which managers select and manage various elements and working of organizational structure and culture so that an organization can achieve its objective. Organizational structure is the formal system of work and reporting relationships that controls, co-ordinates, lead and motivates employees so that they work together to achieve an organizations goal. As a manager one should create an organizational structure and culture such that: Which Encourages employees to work hard and encourage them towards their work attitudes. Allows the employee and all the middle n lower level groups to cooperate and work together effectively. Structure and culture affect: Behavior Motivation Performance Teamwork and cooperation Intergroup and Interdepartmental relationships. Hongkong and shanghai banking corporation limited. The HSBC Group has an international history which is unique. Many of its most important companies opened for big business over a century ago and they have a history which is rich in diversity and success. The HSBC Group is named after its founding member and the founder of it was Sir Thomas Sutherland, The Hongkong and Shanghai Banking Corporation Limited and a public limited company, which was established in year 1865 to finance the growing trade between China and Europe. It was started as it headquarters in hongkong and than until 1992 hongkong served as a world headquarter when it was forced to move to London as a condition of completing the acquisition of midland bank. As a public limited company hsbc is listed on different stock exchanges of the world like London, hongkong, Paris, India, Bermuda constituent of the FTSE 100 Index and the Hang Seng Index. (www.HSBC.co.uk/history) INFORMATION SYSTEMS IN USE AT HSBC FOR THE TRADING PORTAL HSBC was a founder member of the ‘FXall software, the leading multi-bank FX trading portal. With increasing competition in electronic FX trading, HSBC wanted to be the first bank to introduce the new QuickFill functionality software. QuickFill enables customers to execute trades based on streaming Prices i.e. using configurable deal sizes for different currency pairs as opposed to a request for quote (RFQ) system where a deal is executed against the best available quote in the market. QuickFill allows customers to see a price and simply â€Å"hit† it. The system provides a 24/7 operation base with rates being managed globally from a range of HSBC financial centres. This software enhances functionality to enable streaming prices, rapid implementation within an infinite timeframe, and transfer of required details over multiple levels and minimized the risk by strict project planning. Structural and contextual dimensions of HSBC Structural dimensions: Centralization:- This means the extent to which functions are dispersed in the company, either in the terms of integration with other functions and geographically. Since HSBC is a worldwide banking corporation all functions are dispersed into different departments under different heads. In such conditions centralization is not possible and so the entire organization functions are de-centralized so as to make the functioning easier and smoother. Formalization:- This concept is regarding to the extent of policies and procedures in any organization. HSBC being a highly accredited name all over the world, it is very important for the management to upkeep its name and standard in the world wide market place and so for this reason it is essential that formalization levels in the company be very high. This company deals with high profile clients and so every employee must be aware of all the rules and regulations of the company so as to avoid reduction of reputation in the eyes of the customers. Hierarchy:- This concept is regarding the extent and configuration of levels in the structure of the organization. Hierarchy of a bank at the stature of HSBC is very complicated as it involves both a flat as well as tall structure hierarchy and level of management. Basically, the bank tries to follow a flat structure and has decentralized all its departments so as to increase efficiency and productivity of the organization. Specialization:- Specialization refers to the extent at which activities are refined in the organization. Like any other multi-national corporation even HSBC has a high amount of specialized employees working under different departments from different fields and educational backgrounds. The company advocates a policy of well defined tasks and roles for each employee so as to avoid overlapping job portfolios. Training:- Training is the extent at which activities to equip organizational members with knowledge and skills are carried out, about their roles. Before an employee can be sent onto the floor to handle customers each employee has to undergo various trainings so as to be fully equipped with complete knowledge over all the queries that a customer might have. This training is highly professionalized so that no errors are made on the side of the employee who would result in the loss of a potential or existing customer. As this is in the banking sector low professional training standards are not advised and harmful for the company. Contextual Dimensions: Culture:- The values and the beliefs shared by all employees in the organization should be maintained in decorum. Culture is often explained by examining the norms and behaviors of employees in the workplace. HSBC has a multilingual culture where persons from all over the world come together and work in a single workplace as a team. So, its said that ‘HSBC- THE WORLDS LOCAL BANK. Environment:- Environment refers to the nature of external influences and activities in the political, social, technical, and economic areas of business. A stable environment is very essential for any business to survive and function smoothly in a way as per norms written down in the memorandum of association. Being a world wide bank it is very difficult to say that HSBC has a stable environment as it might have a stable environment in one of its branches but that is not the same with each and every one of its franchised branches. Goals:- The unique overall priority and preferred end-states of the organization is known as its goal. The goal of the bank is â€Å"To be the Bonding Company that guarantees continuance in the market to satisfy appropriately and professionally the bonding needs of our obligors and the assurance of timely fulfillment of our bond to our beneficiaries† (www.hsbc.co.uk). Size:- The number of people and resources in the organization and their span of control in the organization. HSBC is a highly resourceful bank and has the most number of employees in comparison to any other bank. Basically, we can say that HSBC is a large multinational corporation with around 8500 offices over 119 countries which consist of more than 1 million employees and workers. Technology:- The unique activity needed to reach organizational goals, including nature of activities, specialization, type of equipment/facilities needed, etc. HSBC provides their customers with both products as well as services. The main technologies includes computer softwares and banking instruments which have made modern life un-livable without. SWOT ANALYSIS â€Å"Situation analysis in which internal strengths and weaknesses of an organization, and external opportunities and threats faced by it are closely examined to chart a strategy.† (www.businessdictionary.com) STRENGHTS:- Competitive market and brand name. High standard regulatory environment Flexible work permit system and good quality staff offering personal client service WEAKNESSES:- Tough competitors Retail and staff affluent customer proposition Lack of legitimate access to all markets Rigid laws that prohibit development OPPORTUNITIES:- Brand expansion Unified trade body to lead finance sector program change Active and aggressive targeting of private and corporate clients Co-ordinate business relationships thus investing in the ecosystem THREATS:- Changing scenario which makes investors hard to invest. Outsourcing to cheaper jurisdictions Downsizing and reduction in banking operations Regulations in foreign trade capital markets Impact on the service sector ecosystem Conclusion Service sector management is an important factor for any business organization and with the rapid growth of these sector people are keener to develop the habit of providing services with all the necessary means available to them. Due to high competition in the service market people are scared to invest in banking sector, hsbc have always arrived up with various schemes to hold the interest of its customers. As mentioned: High competition in the banking sector, hsbc has to increase the confidence in the mind of their customer about the reliability and security of their investment compared to other banking service provider. Best service compared to the other providers. Hsbc should be more concentrative in after sales service, There is opportunity but no security; it should emphasis more on service than any other thing. Hsbc should give some more sound strategies to trap more customers giving more comparison with other investment center. Due to uncertainty of market hsbcs security investment are subject to market risk and there is no guarantee that the objective be will achieved. The growth of retail financial services sector has been a key to the development on the market front. Both the public and the private bank will not only keen to tap the domestic but also to hold the international market of financial services. Now foreign banks will be more likely to gain foothold in prospective global market. Therefore the future will belong to them who develop good and strong service strategies, internal controls cost effective services and instruments and innovating new evolution in the SERVICE SECTOR market.

Groups Essay -- Communities Psychology Group Essays

Groups Group Processes and Structures One of the most elementary aspects of group formation may be the experience of common fate, the perception that ones outcomes are bound up with those of others. An even stronger form of interdependence is that shaped by the task goals of the group. Where these bring people into a positive relationship with one another then cooperation, cohesion and enhanced group performance are likely. Negative interdependence on the other hand leads to competition, reduced liking for others in the group and usually lower performance. As the group develops, the roles to be occupied by individuals emerge and develop This process of role differentiation emerges where there is a new group one individual may assume the task-leadership role other may emerge as well. Where the group has been in existence for some time and a member of the group leaves a newcomer may be specifically assigned to take over the role. This division of labour will contribute to peoples identities. As the group developes so also do the expectations members have about what rules and procedures might be appropriate to develop. This is the process of the establishment of group norms. Group members enjoy different amounts of power and prestige which gives rise status hierarchies in groups. Such status differences can generate expectations for group members behaviour. Closely tied to status differentiation are social comparison processes through which individuals can make a...

Time Traveling Art Historian

Through my travels of time and space I’ve seen remarkable sights of the world that have made an impact on my many journeys through the centuries. One place I visited through my time travel was the Sistine Chapel and the exquisite works of art that are contained inside the building. The year is 1542, and I am exploring the town of Vatican City. I see that the Sistine Chapel has just added the new artwork of The Last Judgment no more than two months ago. This was one of the artist most famous visual art pieces. The artist Michelangelo Buonarroti was charged in performing a duty by Pope Clement in 1534, to create a fresco that would cover the entire wall behind the altar of the Sistine Chapel. It took Michelangelo four years to complete The Last Judgment, which was not until 1541. The artwork depicted the final judgment and the second coming of Christ. The style used in the painting reflects the Mannerist style. The painting lacked the sense of optimism and beauty that define Michelangelo’s work on the ceiling. His figures in the painting were no longer proportioned, but looked twisted and grotesque. The heads looked too small for the bodies Michelangelo had envisioned. As I scurried through the city streets of Venice City to see to the renowned piece of artwork, I can feel the excited just flowing through my body. When I finally gazed upon the beauty of the chapel, I was in awe by the magnificent work of the entire painting. The fresco appeared as the figures in the painting were in movement. The fascination with the immense blue sky and various colors that Michelangelo Buonarroti used like touches of reds and browns kept my eyes from focusing on one spot, but the entire painting. The Last Judgment was Michelangelo Buonarroti’s depiction was considered very controversial at this period in time because of his use of the naked body and the conservative society the artist lived in. Michelangelo was critiqued for integrating mythological creatures in the Biblical portrayal of his art. Even though, many individuals didn’t like the painting for various personal reasons, The Last Judgment soon became a masterpiece for the artist. Chapter Two: Egyptian Civilization The Great Temple of Aten After being in Italy for several days, I decided to taken in some of the beautiful and majestic architecture artwork in Egypt during the summer season in 1343 B. C. When I arrived in Egypt I made sure to get a guide to show me around the country. I traveled down the River Nile in a boat, taking in the scenery of the desert. For five days I traveled to Cairo, where my destination was to go to the city of el-Armarna. This is where the Great Temple of Aten is located. The city was a plain of desert land surrounded by many hills. Upon my arrival to the city, the boat docked by a platform on the east bank of the Nile River. Later I embarked on my journey of making my way towards the city of el-Armarna, Egypt. When I entered the city, I went looking for the Great Temple of Aten. I traveled north along Royal Road, in adjacent to the east bank of the river, which I road on a camel for several miles before arriving to the temple. When I came upon the Great Temple of Aten, I was surprised of how gorgeous the architectural structure was to me. The temple was for the worship of the god Aten during the reign of Akhenaten. It was dedicated for proper cult and worship of the sun-disk. With the association the city had with other gods, Akhenaten established a new city and capital at Amama (then called Akhetaten). Construction on the first architectural structure began in 1347 B. C. ; it was the chapel in the Great Temple. By 1343 B. C. the structure as completed and the temple was to be built. The temple has width of 300 yards and a length of 800 yards. Most of the temple was made of bricks because Akhenaten wanted to quicken the building process and using brick gave the workers more swiftness to finish the job. Timber was used in order to provide the architecture with support for the surroundings walls and towers. The temple also housed public building in the inside that was constructed out of stone, providing extra support. As I stepped through the entrance of the temple, I passed through a couple of towering pylons which I was led to a hallway lined with columns called the House of Rejoicing. As I kept walking, I came to a corridor known as the Gem-Aten. It didn’t have a roof, but only an opening that had shown the wide range of sky. The axis allows for the sun to be worshipped as it rises and sets everyday. The Gem-Aten consists of six courtyards. The first courtyard has a high alter containing small chapels. The second, third and fourth courts have rooms and altars for storing supplies; and for the usage for worship offerings. As I kept walking, I noticed that the fourth temple had chambers that were furnished for coverage in the shade. The last court is the High Alter where offering for Aten is done. The temple has a total of 365 altars. Each day of the solar year and the dividing of the altars on each side of the High Altar; it is representation of Upper and Lower Egypt. As I kept walking, I came upon the Sanctuary. This was the last structure of the temple that had statues of Akhenaten and his family. The entrance had an open courtyard that had three houses to lodge the priest who are on duty. With my mind still fascinated on the statues, I continued walk across the courtyard, I feel like I am seized by an army because they are various styles of statues of Akhenaten on both sides of me. This certain court that resembles the sixth court of Gem-Aten was utilized by the Royal family of Egypt. I decided it was time to go back to the main entrance of the temple, as I took on one more look around; I felt a greater respect for the architecture that has lasted through the centuries. It was wonderful to see firsthand the Egyptian cultures and how the society is devoted to their religion beliefs and culture. The temple is a reminder of a time Egyptian religion became monotheistic for a moment; and how the Atenism of religion has been viewed as an influence in creation of future monotheistic religions. While getting ready to transport myself to another place in time, I start to feel misery in knowing that every beautiful piece of architecture that I gazed upon will be back returned back into crumbling rubble, buried under the earth’s soil. In another perception, it’s good to know that the ruins will be rediscovered by future generations that will still be able to give distinct insight on the evolution of the Egyptian culture, civilization and architecture. Chapter Three: The Late Middle Ages Maesta Altarpiece On my last time traveling voyage, I decided to visit Siena, Italy for the unveiling of visual art of the Maesta Altarpiece in 1311. The creation is by artist, Duccio di Buoninsegnaa who was commissioned by the city to paint an altarpiece in the city of Siena’s cathedral. In 1314, the painting was completed. It was agony watching di Buoninsegnaa bond several panels of wood together so he could begin his creation. He had to paint the front and back of the panels with different types of paintings because the piece was to be located in the center of the cathedral where all the sides can be viewed. The altarpiece was painted using tempera and gold. Duccio possessed the confidence about his quality of work he created because of the medium that was chosen for the art project. Tempera is a medium used in paintings that is permanent, which dries quickly. It’s made by mixing a colored powder pigment and a water-soluble binding agent such as an egg yolk. Duccio used this technique to incorporate in his painting by using tempera and gliding produced colors, which was essential in preserving his masterpiece through time. While taking a long look throughout the cathedral, I think about how important the painting is to this era in time. I watched a parade of people making a pilgrimage to the cathedral through the city. It seems like a journey everyone was willing to take because of the religious significance it stands for. I decided to go out and follow the crowd, in which I observed that the procession of people consisted of priests and monks whom were praying, and then the citizens of Siena carried candles; followed by numerous other people. I noticed the journey was for the entire city to accompany the altarpiece to its final destination. It was an honor to be part of such a momentous and joyous event in history. Once the altarpiece made it to its destination, the procession showed an excitement that was overwhelming. The Maesta is then installed with the welcoming sound of bells coming from the cathedral. It was not too long before I was finally able to approach the altarpiece and examine the breathtaking art of Duccio Buoninsegnaa. On the front panel, the artist has managed to create a captivating painting that depicts the Mary (the Madonna) sitting on a throne cradling the baby Jesus in her arms. They are surrounded by saints and angels in colorful robes. While looking at the panels, I found myself studying the imagery of how real it seems. Even though it possess a new style of painting it has traditional aspects that Buoninsegnaa wanted to keep simple. It was a joy to experience the new style of painting created by Duccio Buoninsegnaa. He made his artwork look real with physique gestures. The painting is so captivating that I’m so sorry that I’m the only person that could time travel that could experience the artist masterpiece. It is wonderful to have a front row seat to something spectacular that the world won’t be able to recognize as a remarkable piece of art until centuries later. Though it took much time for the new style of Buoninsegnaa painting to evolve, it was good to know that it will be later embraced by the Italian Renaissance. My travels through the periods of history will always be an experience that I will treasure forever. The best thing about time traveling is that I can always go back in time and recreate any event in any period. Getting a firsthand lesson of the history of life-changing events is a gift within itself. I feel blessed and gifted to have traveled to these exotic cities and experience a beginning of history from the very start. I can’t wait to find out where my next adventure will take me. Until then, see you after my next big trip!

Modern Business Statistics with Microsoft excel Essay

When are you entitled to deduct interest? If you run a business in part of your home, you are entitled to deduct part of the interest on money you borrowed to buy your home if: part of your home is set aside exclusively as a place of business and is clearly identifiable as such, and that part of the home is not readily adaptable for private use, for example, a doctor’s surgery located within a doctor’s home. If you rent out part of your home with access to general living areas on an arm’s length basis, you are entitled to deduct part of the interest on money borrowed to buy the home (see Taxation Ruling IT 2167). In these situations you would satisfy the interest deductibility test. This means you would not obtain a full main residence exemption and so would have to pay tax on part of any capital gain made when you sell your home. You may satisfy the interest deductibility test even if you didn’t borrow money to acquire your home – you must apply it on the assumption that you did borrow mon ey to acquire it. You also satisfy the test if you were entitled to claim a deduction for the interest, even if you didn’t actually claim the deduction. There is a special rule to work out the amount of your capital gain or loss if you first use your home to produce income in a way that satisfies the interest deductibility test after 20 August 1996. Last Modified: Tuesday, 30 June 2009 Main residence exemption – the effect of using your home to produce income Where you first use your home to produce income after 20 August 1996 If you start using your home to produce income (in a way that would satisfy the interest deductibility test) for the first time after 20 August 1996, there is a special rule for working out your capital gain or loss. In this case, you are taken to have acquired your home at its market value at the time it is first used to produce income if all of the following apply: you acquired the home on or after 20 September 1985Â  you first used it to produce income after 20 August 1996 Â  you would get only a part exemption because the home was used to produce assessable income during the period you owned it, and you would have been entitled to a full exemption if you had sold the home immediately before you first used it to produce income. The effect of this rule applying is that the period before the home is first used by you to produce income is not taken into account in working out the amount of any capital gain or loss . The extent of the exemption for the period after the home was first used to produce income depends on the proportion of the home used to produce income. Example: Home first used to produce income after 20 August 1996 Louise purchased a home in December 1991 for $200,000. The home was her main residence. On 1 November 2001 she started to use 50% of the home for a consultancy business. At that time the market value of the house was $220,000. She decided to sell the property in August 2002 for $250,000. The capital gain is 50% of the proceeds less the cost base. Percentage of use X (proceeds – cost base) = capital gain 50% X ($250,000 – $220,000) = $15,000 Louise is taken to have acquired the property on 1 November 2001 at a cost of $220,000. Because she is taken to have acquired it at this time, Louise is taken to have owned it for less than 12 months and therefore cannot apply the indexation or discount method to calculate her capital gain.

Marketing mix Essays

Marketing mix Essays Marketing mix Essay Marketing mix Essay Essay Topic: Marketing In this assignment I will go through how marketing mix is applied to service or a product for two organisations called KFC and Mc Donalds. I will choose a product from each of these businesses and the talk about the product, price, promotion and place. Marketing mix Marketing mix consists of 4ps. These are product, price place and promotion all offered by an organisation to potential customers. The marketing mix is a set of tools that work to achieve companys objectives. Price The price is the amount a customer pays for the product. The price is determined by a numbers of aspects, which are material costs, market share, product identity and the customers thought of the product price. Price is determined by what customers notice about the price of the product. Researching about pricing is important because it indicates what customers are looking for as well as what they want to pay. For example Gillette the manufacturer of razors, deodorant and shaving foams seeks to provide the worlds market with products that have affordable prices and targets a particular market segments. Such as young adults who wish to buy low priced razors and deodorant. Product products must meet customer requirements whatever these might be. For many products is simple the physical item that customers of businesses might be buying or selling. For example a customer buys a new BMW 6 series, thats the product. Place Place is also known as distribution. It is the system through which products or services are moved from the manufacturer or service provider to the consumer. Different organisations use different approaches to reaching their consumers. For example, McDonalds uses a franchising system which allows the company to operate in many different geographical locations. Promotion Promotions persuades customers to buy their products or offers though communication Promotions has 4 key elements, these are advertising, public relations, word of mouth and point of sale. AN example can be that KFC advertising its new product, the zinger burger on posters with eye catching words will attract young customers. History of McDonalds Siblings Dick and Mac McDonalds opened their first restaurant in San Bernardino, California. The principle of modern fast food restaurant called speedee service system was introduced by them. The original mascot of McDonalds was a man with a chefs hat on top of a hamburger shaped head whose name was speedee. In 1963 speedee was replaced by Ronald McDonald. McDonalds serves nearly 48 million customers every day prompting it to become the worlds largest fast food restaurant. Desserts, hamburgers, fries, soft drinks, milkshakes and breakfast food are the primary products that are sold in McDonalds. McDonalds has recently included salad and fruits to its menu as well as a playground for children. Some McDonalds even have a fire place and lounge areas removing plastic chairs and tables. McDonalds is a franchise so each McDonalds is run by a franchisee. The companys revenue comes from the rent, loyalties and fees paid by the franchisees, as well as sales in company operated restaurants. Types of product at McDonalds McDonalds sells primarily beef related fast food products such as cheese burgers, ham burgers, quarter pounder and their signature product the Big Mac. But now due to customer trends changing they have now included salads in their menu as well as different types of food such as oriental snack wraps and egg sausage burgers. McDonalds also sells ice cream which is often called McFlurry. All of McDonalds food is relatively cheap and is aimed at different types of people, young and old. Product McDonalds sells several many fast food products, the products I have chosen is cheese burger. The retail price of the product is 99p. The packaging is foam, plastic shaped as a box which can be opened, but now McDonalds have changed the packaging into yellow paper for some stores. This is because the packaging was causing pollution and wasting a lot of resources. McDonalds continues to design more efficient packaging and by promoting the use of recycle content material. The beef of the burger is not made on site but is delivered to the restaurant. The burger contains 100% pure beef with a single pickle, rehydrated onions, on a toasted bun. McDonalds beef is bought from farms accredited by nationally recognised farm assurance schemes. McDonalds can trace which farms the beef came from, and know the farmers name and how the animals were raised. At the supplier the meat is checked for a date and batch number. The quality of the meat is checked by the staff to ensure that it is at top quality. If the quality is bad then they wont use it. The cheese burger is aimed mostly at young adults and teenagers. McDonalds has a drive through service. People often with cars in the drive through service will receive their meals quickly than those waiting at the queue in the restaurant. Price The retail price of a cheese burger is 99p. The price has been set to make customers believe they are actually saving money but they are only saving 1pence. Psychological pricing is used to play on customers views. This is very effective as the consumer is tricked into thinking that the burger is cheaper than 1 pound. Then comes the cost- plus pricing, this is when you calculate the average cost plus a mark up to see if they made any money on top. The price of the product does change. Cheese burger price may increase if the costs of dairy products and beef rise. So some stores will need to raise the price of the cheese burger and other products to counter financial loss. Other businesses competing with McDonalds will have a difficult time competing with McDonalds, especially private businesses. A cheese burger in high street fast food restaurant like PFC (perfect fried chicken) will sell cheese burger at à ¯Ã‚ ¿Ã‚ ½1.10 or more. Customers will go to McDonalds rather than these shops because they will be saving money in McDonalds. Place McDonalds are located primarily in public places where there are a lot of busy roads and people shopping for example Oxford Street. Oxford Street is a location in west London where many people go and spend hours buying clothes and food. This kind of location will increase the demand of their products and services because many customers will be coming in the restaurant to place an order. A busy place will always increase sales. McDonalds is also located in most shopping centres in the UK. McDonalds have relatively few sites on the motorway due to less demand of customers. These McDonald restaurants will often have a drive though service so customers can buy their products quickly. Promotion Some McDonalds restaurants do 3 cheeseburger for the price of 2. So customers will pay less. McDonalds also promote their business and products such as their cheeseburger offers through billboards, TV and internet. By doing this, McDonalds will attract as much customers as they can. McDonalds also accepts vouchers, such as buy one cheeseburger and get one free. Almost all restaurants accept these vouchers but when the vouchers expire it cannot be used anymore. History of KFC Colonel Harland Sander bought a motel and cafe in Corbin, Kentucky in the 1930s. Colonel sanders had done several jobs such as railroading and operating a steam powered ferryboat but he always loved cooking. There was nothing special about fried chicken, Colonel found a way to combine 11 herbs and spices with flour to create a finger licking good coating. The dining area in Corbin was named Sanders and cafe and was so successful that Ruby Laffon governor of Kentucky gave the title of honorary Kentucky colonel to sanders in recognition of his contribution to the states cuisine. At a time when most businesses were getting bankrupt and struggling Colonels business and reputation increased. But he was forced to sell his restaurant when a new interstate Highway was built through his property. Colonel Sanders at the age of 66 travelled the US with his new plan of created a franchise. Small and independent restaurants were taught by Colonel to cook Kentucky Fried Chicken and his values. He took 5 cent royalty on every chicken sold With most of his deals sealed with only a handshake, there were 838 Kentucky Fried Chicken franchises across the United States by 1964. The Colonel was now in his 70s and Kentucky Fried Chicken had grown larger than he could realistically handle, so he sold the operation to businessmen John Y Brown Jnr and Jack Massey for $2 million. But there were strict conditions: Colonel Sanders became Quality Controller and his image stayed on as the company trademark. Colonel Harland D Sanders was 90 years old when he died in December 1980. His philosophies and values of hard work and excellent customer service are, and will always be a part of KFC. KFC is currently owned by YUM brands which are the worlds largest fast food restaurant company in terms of system units, over 36,000 restaurants around the world in more than 110 countries and territories. Types of products at KFC KFC sells mostly chicken products these are chicken fillet burger, chicken zinger burger, chicken tower burger, zinger tower burger, and mini fillet burger, kids burger, toasted chicken twister wrap, chicken wings, chicken nuggets, popcorn chicken and also sells salads for healthy options. KFC desserts are Avalanche, yoghurt and Rolo ice cream tub. Product The product I have chosen is chicken fillet burger. The retail price of the product is 1.99p. KFC uses paper packaging which helps the chicken crispy by wicking away excess moisture. The paper package is red with KFC logo in the middle. The chicken of the burger is not made on site but is delivered to the restaurant. 100% chicken breast fillet coated in KFCs secret blend of 11 herbs and spices. KFC checks its suppliers to see if they are using any extra ingredients like antibiotic growth promoters to the chickens. Rearing conditions are also strictly regulated to ensure animal welfare. Welfare and bio security audits are carried out by independent experts. KFC chooses he best quality chicken from its suppliers. Price The retail price of a chicken fillet burger is 1.99p. The price has been set to make customers believe they are actually saving money but they are only saving 1pence. Psychological pricing is used to play on customers views. This is very effective as the consumer is tricked into thinking that the burger is cheaper than 1 pound. Then comes the cost- plus pricing, this is when you calculate the average cost plus a mark up to see if they made any money on top. Place KFC are located mostly in public places where there are a lot o busy roads and people shopping for example Oxford Street or Bethnal green. Street is a location in west London where many people go and spend hours buying clothes and food. This kind of location will increase the demand of their products and services because many customers will be coming in the restaurant to place an order. A busy place will always increase sales. KFC have quite a lot of sites on the motorway due to KFC being popular with drivers. These KFC restaurants will often have a drive though service so customers can buy their products quickly. Promotion KFC has free chicken wings promotion for its UK stores. KFC also promotes there business and products such as their chicken zinger burger one the signature dish of the company in bill boards, TV and internet. By doing this KF will attract many customers as they can. KFC also accepts vouchers, such as free Ice cream.

Privatization Essays - Market Structure, Monopoly, Privatization

Privatization Essays - Market Structure, Monopoly, Privatization Privatization Privatization What is Privatization? Privatization is the process of transferring productive operations and assets from the public sector to the private sector. Broadly defined in this fashion, privatization is much more than selling an enterprise to the highest bidder, as it includes contracting out, leasing, private sector financing of infrastructure projects, liquidation, mass privatization, etc. My testimony will argue that there is no single best approach to privatization; the appropriate privatization path depends on the goals that the government is seeking to attain, the individual circumstances facing the enterprise and the economic and political context of the country. It should be noted that privatization is fundamentally a political process as well as a commercial and economic process. Privatization changes the distribution of power within a society, as it diminishes control of the economy by the state and government- appointed managers. Workers often feel threatened by the potential changes inherent in privatization, although employees frequently benefit from the process. As a result, public support is a major consideration in any privatization program and many of the choices made in designing and implementing transactions reflect the need for such support. Two consequences flow from this factor. 1) choices of approaches are sometimes altered due to political considerations, meaning that equity must be promoted in the privatization strategy, and 2) program implementation must be objective and fair to avoid adverse publicity. What are the goals of privatization? Many goals are often pursued through privatization programs. These goals often fall along two principal dimensions: 1) broad social or macro economic goals, and 2) enterprise specific or macro economic goals. Macro economic goals are numerous. Fundamentally, privatization is advocated as a means to reduce the governments role in the economy, partly as a philosophical matter (as in the UK) but principally because governments have performed badly in that role. Many countries can attribute substantial portions of their external debt to liabilities of state-owned enterprises and significant portions of government budgets are devoted to paying subsidies or otherwise assisting loss-making State-owned enterprises. Government's objectives in these situations are often simply to extricate themselves from these financial commitments, and focus scarce

Magnetic Reversal of the Earths Poles

Magnetic Reversal of the Earth's Poles In the 1950s, ocean-going research vessels recorded puzzling data based on the magnetism of the ocean floor. It was determined that the rock of the ocean floor had bands of embedded iron oxides that alternately pointed toward geographic north and geographic south. This  was not the first time such confusing evidence had been found. In the early 20th century, geologists had found some volcanic rock was magnetized in a manner opposite to what was expected. But it was the extensive 1950s data that prompted a widespread  investigation, and by 1963 a theory of the reversal of the earths magnetic field was proposed.  It has been a fundamental of earth science ever since. How the Earths Magnetic Field Is Created The earths magnetism is thought to be created by slow movements in the liquid outer core of the planet, which consists largely of iron, caused by the rotation of the earth. Much the way  the rotation of a generator coil creates a magnetic field, the rotation of the liquid outer core of the earth generates a weak electromagnetic field. This magnetic field extends out into space and serves to deflect solar wind from the sun. The generation of the earths magnetic field is a continuous but variable process. There is a frequent change in the intensity of the magnetic field, and the precise location of the magnetic poles can drift. True magnetic north does not always correspond to the geographic North Pole. It also can cause the complete reversal of the earths entire magnetic field polarity. How We Can Measure Magnetic Field Changes Liquid lava, which hardens into rock, contains grains of iron oxides that react to the earths magnetic field by pointing toward the magnetic pole as the rock solidifies. Thus, these grains are permanent records of the location of the earths magnetic field at the time the rock forms. As new crust is created on the ocean floor, the new crust solidifies with its iron oxide particles acting like miniature compass needles, pointing to wherever magnetic north is at the time. Scientists studying the lava samples from the bottom of the ocean could see that the iron oxide particles were pointing in unexpected directions, but to understand what this meant, they needed to know when the rocks formed, and where they were located at the time they solidified out of liquid lava.   The method of dating rock through radiometric analysis has been available since the early 20th century, so it was an easy enough matter to find the age of the rock samples found on the ocean floor.   However, it was also known that the ocean floor moves and spreads over time, and it was not until 1963 that rock aging information was combined with information about how the ocean floor spreads to produce a definitive understanding of where those iron oxide particles were pointing at the time the lava solidified into rock.   Extensive analysis now shows that the earths magnetic field has reversed about 170 times over the last 100 million years. Scientists continue to evaluate data, and there is much disagreement over how long these periods of magnetic polarity last and whether the reversals happen at predictable intervals or are irregular and unexpected. What are the Causes and Effects? Scientists do not really know what causes the reversals of the magnetic field, although they have duplicated the phenomenon in laboratory experiments with molten metals, which also will spontaneously change the direction of their magnetic fields. Some theorists believe that magnetic field reversals may be caused by tangible events, such as tectonic plate collisions or impacts from large meteors or asteroids, but this theory is discounted by others. It is known that leading up to a magnetic reversal, the strength of the field declines, and since the strength of our current magnetic field is now in steady decline, some scientists believe we will see another magnetic reversal in about 2,000 years.   If, as some scientists suggest, there is a period during which there is no magnetic field at all before the reversal occurs, the effect on the planet is not well understood. Some theorists suggest that having no magnetic field will open the earths surface to dangerous solar radiation that potentially might lead to global extinction of life. However, there is currently no statistical correlation that can be pointed to in the fossil record to verify this. The last reversal occurred about 780,000 years ago, and there is no evidence to show that there were mass species extinctions at that time. Other scientists argue that the magnetic field does not vanish during reversals, but merely grows weaker for a time. Although we have at least  2,000 years to wonder about it, if a reversal were to occur today, one obvious effect would be mass disruption to communications systems. Much the way solar storms can affect satellite and radio signals, a magnetic field reversal would have the same effect, though to a much more pronounced degree.

Marginal Concepts in Managerial Economics Case Study

Marginal Concepts in Managerial Economics - Case Study Example The best decision reached after analysis of the marginal concepts was the closing down of the mines (Chapman, Hopwood, and Shields, 1020). Logically, businesses can open up coalmines when situations in the market trends change. Change of these trends would include the rise of the prices of coal in the market. Rise of prices is a good motivation to open up coalmines because companies would make profits. This is because increase in prices of coal will give the company revenue that exceeds the production cost. As long as what they re getting after the sale of extracted coal exceeds the production cost, then the business is viable. Businesses interested in such a venture should consider the cost of production. More importantly, they should consider the marginal cost if at one point production is increased (Chapman, Hopwood, and Shields, 1022). Market demands and cost of increased production are the key determinants of whether a mine will increase production. After analysis of such concep ts, businesses would consider opening up a coalmine if the demand of the product were high. Usually, a high demand would raise the prices. High prices of the product in the market would cater for the increased cost of production. In addition, it would be a viable venture for businesses to open up coalmines if they have an innovative technology that reduces the cost of production. ... One can foresee opening up of coalmines in Britain at a time when businesses are able to combat the challenge of environmental pollution brought about by the mining process. Increased pollution at the site and its environs leads to respiratory diseases. Until a business can address such effectively, it would be futile to open up a coalmine. Addressing the issue of minimizing pollution will definitely lead to higher costs of production. Businesses should analyze the cost of managing pollution and its adverse effects. One can envisage opening of coalmines in places that are relatively safer. Risky places will reduce the utility obtained from mining. If analysis of the grounds near mines indicate a high level of safety, then it is viable to open up a mine. Operating in a safe working environment gives an individual much more satisfaction and is a condition that greatly affects mines. In addition, one can foresee opening up the reserves that are relatively easily accessible. Ease in acce ssibility of coal in a mine reduces the time and cost taken in its extraction. Analysis of the available reserves can tell whether the coal is easily accessible or needs more time and advanced machinery. It is critical that a business analyzes the cost of restoring the mine into a safe condition. In all the above cases, a business must analyze all the marginal concepts. According to Ryan, an understanding of these concepts will determine whether the venture is a viable one (225). Analysis of all the marginal aspects ranging from all types of costs incurred to the revenue gained is very critical. It is only until one of the above factors brings about a marginal change and economic calculations predict profits that businesses

Community Development and Policy In Ireland Essay

Community Development and Policy In Ireland - Essay Example Currently, as from 1990 the community development process has shifted; it is now emphasizing poverty reduction, closer relationships within the state and a central social life. This period also has seen the community development sector being formalized and turned to being run professional.2 Community development in Ireland has brought a lot of positive impacts in the community there are numerous indictors and quantitative evidence to support this. Development has enabled development of infrastructures and also has enhanced considerable amounts of community activities and projects. There are various concepts defining community development, others reflect community development as political. Community development is a process by which those marginalized are given an opportunity to have confidence and join others by participating in their problem solving. This is according to Combat Poverty group. Another scholar Lee argues that, this concept is based on perceptive of citizenship3. To him, community development is a way by which the community can attain they rights. These concepts in general refer to community participation. Another important concept is the Budapest declaration of 2004, which sees community development as means of empowering civil societies by giving priority to the community actions. This involves social and also economic aspects. The concept sees the community as more than being just located in an area. Though the concepts vary community development represents a structure in which the communities may express their view on the local level. To Ed gar another scholar says, that community development is a result of collective mobilization as a response to growing feelings of disconnections by the societies Community development history in Ireland Community development is Ireland can be traced back to 1930s as cooperative development movement that was based of theory of self help. Between 60s and 90s the community development in Ireland gained significant growth's during this period community development put emphasizes on unemployment and self help and direct action. These initiatives were taken because of the perceived failure by the traditional approaches in talking poverty. Lee observes that, the movement of women formed in the 70 was an important aspect in advancing direct action.4 During this period associations concerned with poverty were formed. The authorities also got involved in tackling poverty by promoting organizations involved in community development. This lead to formation of a poverty reduction project through the European Union termed as "EU Poverty 2 programme," that lead to establishing of community development fund. The impact of varying community bodies such as sports and arts have increased the community responsiveness to community issues for example, racism, drugs, bulling and alcoholism, in an entertaining way, that is accessible to many people. As it has been observed in Ireland, the most active group that participate in these community activities are the youths, and the sports and arts programme has integrated them. Policy framework for community development The purpose of developing a frame work is to have a base or a foundation of working with a community. The frame work is not limited on local issues, but also

Chinese Foreign Currency Reserves Swell by Record Amount Article

Chinese Foreign Currency Reserves Swell by Record Amount - Article Example This article tries to raise public alarm over the swelling foreign exchange reserve levels of China and how this contributes to the country’s â€Å"worsening inflation problem† (Bradsher, 2011). This has to do with its effect on the renminbi’s exchange rate vis a vis the US dollar.   A high level of reserves causes the renminbi to appreciate against the dollar.   The problem is this will make China’s substantial exports more expensive; thus, losing its competitive advantage.  Ã‚   This then could lead to the loss of jobs by millions of people working in the export industry.   This led to China’s central bank’s decision to keep the value of its currency low.   To do this, it prints renminbi at a â€Å"furious pace in order to buy the dollars and euros† that come in through trade surpluses and foreign investment (Bradsher, 2011).   However, this spawns another problem.   The additional renminbi issued causes the money suppl y in the country to rise even further.   What was not discussed in the article is the direct impact of the level of money supply on inflation.   A high level of money supply circulating in the economy causes aggregate demand to rise.   This increased demand for goods and services is what pushes general prices to go up. Looking at China’s foreign reserve levels, in the third quarter of 2010, it increased by $194 million.   In the fourth quarter, it jumped by $199 million to raise the total to $2.85 trillion.   This increase was much larger than what economists had expected.   During this time, China â€Å"doubled its intervention in the currency markets to about $2 billion a day† (Bradsher, 2011).   And so, the country’s money supply was 19.7 percent higher in December than a year earlier. The increase in money supply though is not solely due to the central bank’s efforts to keep the value of the renminbi in check.   Banking loans have also risen and measures taken by the central bank to slow down lending, primarily by increasing bank reserve requirements have proven to be ineffective.

Guy Body Image Research Paper Example | Topics and Well Written Essays - 1250 words

Guy Body Image - Research Paper Example As a result, the society is forced to try to attain the physical unattainable perfection as featured prominently in the mass media (Government of Western Australia 1). The influence has been significant in as indicated in various researches. For example, a study carried out showed that looking at fashion magazines for a moment lowered the self-esteem of over 80 percent of women (Government of Western Australia 1). The media have failed to acknowledge that both males and females come in all different shapes and sizes. Therefore, the representation of one body type as being ideal is unrealistic (Government of Western Australia 1). This leads to adoption of harmful behavior to both males and females as they try to attain the images depicted on the media. Moreover, the worry about body image has also manifested in males. There have been an increasing number of males under pressure to maintain a high level of fitness and physical perfection. As a result, most males have been spending most of their money and times in gyms, beach, and sporting clubrooms. Moreover, they have adopted some strange feeding habits, and use of drugs to enhance body image (Government of Western Australia 1). Media have a profound impact on the female body. The influence is usually rampant to the teenagers. The media have led to the notion that the value of women is based on the outward appearance (Serdar 1). The images depict an impractical standard of feminine beauty (Serdar 1). This in the end has a powerful influence on the way women view themselves. According to the view of the mass media, thinness is considered perfect, and a key thing for women to be attractive (Serdar 1). The figure has been commonly highlighted through various ads. Such images in the ads, television, and music portray the perfect woman (Serdar 1). Moreover, the media have been full of images of females that possess these unique attributes. As a result, this makes it usual

Creating specialized pediatric radiographic team Dissertation

Creating specialized pediatric radiographic team - Dissertation Example Without evaluation, it is almost impossible to note any changes that have taken place in the organization. The stakeholders rely on evaluation to ensure the project reaches its stated objectives and at the right time. Evaluation helps stakeholders and concerned parties to focus on any factor that has affected the project and to what limits. Some factors are seen to affect a project to greater levels, ensuring the project does not achieve its objectives. Some of these factors can be controlled while others are uncontrollable. Therefore, focusing on these factors prepares the management to ensure the project is designed to achieve its objectives (Rigby, 2003: 15). For instance, when the management knows that a factor is likely to affect a project, they indulge in control measures that will reduce the atrocities of the factor. Prevention will prepare the project to deal with these factors (Walshe and Smith, 2011: 11). As such, the project is likely to record a positive accrual. This wil l also benefit the managers as they will have a positive record during their tenure. However, some of these factors are uncontrollable. For instance, the external factors are not controllable by the project’s management. Therefore, there is a need to have a closer focus on these factors and enhance preparedness. This will assist in ensuring the factors do not affect the project adversely. Evaluation is a process that allows improvement and correction in some activities that were not well conducted. When evaluating a project, the management considers all the attributes in the project and their optimality. For instance, evaluating the machinery that is used in radiography is a process that will show its aptness in offering services. If the machine is working properly, then it will serve a large number of people (Ahmed, 2012: 12). However, when the machine is not working to its optimum levels, it is not likely to record an improvement. Therefore, banking on the optimality of mac hinery is likely to improve the services that are offered in a project. Many people that deal with projects savor the issue of evaluation as it has numerous positive attributes. First, the evaluation gives room for improvement in the project. Secondly, evaluation assists in making the possible changes. Lastly, evaluation assists in preparing a budget that would improve the overall performance of the project if it is restarted. There are three types of evaluation that are mostly engaged in projects. The first type of evaluation is the process evaluation. This type of evaluation banks on evaluating the policies that are instilled in the project. Policies are the directives and regulatory accounts that are used in running the project. This is mostly done by the management which is in control of the project. The policies have a direct impact on the performance of the project as they are the vital controls of the project. Therefore, there is a need to come up with a management that knows how to conduct policies and ensure all the directives are followed. During evaluation, there is focus on the directives and policies and how they have been implemented in the project (Gordon, Buchanan and Bretherton, 2008: 13). Secondly, there is the evaluation of materials that are used in the project. Materials are important in that they are the basic needs of any project. Before starting any project, the management has to ensure it has ample materials. Ample materials will ensure the project is

Colonialism and culture in Latin America Essay Example | Topics and Well Written Essays - 2000 words

Colonialism and culture in Latin America - Essay Example Most of the Colonialism is done by Spain, Portugal and some is done by France. The Highest GDP per capita income is from Argentina, which is $ 13,153 and lowest is recorded by Haiti, which is $1,6141. In this discussion, colonialism and culture of Argentina would be discussed specifically to address the emerging questions in the Latin America about the society. Barton and L. Tedesco said in the year 2004: "Political crisis in Argentina and Venezuela, social mobilization in Mexico, Brazil, Ecuador, Peru and Bolivia, and state failure in Colombia. This is the Latin American political landscape at the beginning of the twenty-first century. There are currently few countries in the region that can be described as increasingly stable; the cases of Chile, Costa Rica and Uruguay may be the exceptions that prove the rule in this regard, although they are not without their internal divisions and conflicts. This lack of stability can be explained to a large extent by the considerable social, political and economic upheaval that took place across the region during the last quarter of the twentieth century"(p. 1). Argentina is the second largest country in the South America area vise, it is one of the Latin American republics that appeared as a result from the fall of Spanish colonial empire in the early nineteenth century, it was actually a movement that was started and led by Creole merchants and assisted by rebel irregulars in rural areas that brought the separation of Argentina from the Spanish empire, the separation appeared in two different phases, the first took place in 1810 and the second in 1816. The country had faced almost 50 years rivalry and after that in the earlier nineteenth century it had started to appear as a super power with beef exports as a principal economic activity, the country by then had started practicing every economic activity. About discussing the identity of the people of Argentina, most of them belong to three different groups, the first one were Creoles, the African slaves brought in by the Spanish empire, many of them have disappeared now, or perhaps mixed in whites, the second group consists of Italians, it is claimed that Argentina is the second homeland of Italians, the third most important group appeared in Argentina is the Jewish group, at the time of Spanish conquest so many of the Jews were also the part of immigrants in 1880s. Today more than 90 percent of the people in Argentina are professed to be Roman Catholics, there are other religions followed as well, such as Judaism, Muslims. The modernizing Argentina came in view when it started educating its people, as written in Facundo: "But the state of primary education is what gives the most complete idea of the culture of that time. No city of the Argentine Republic has distinguished itself more than San Juan in its diligence to expand education, nor has any other obtained more complete results. The government, not satisfied with the capability of the province's men to carry out such an important duty, in 1815 ordered that a person combining competent training with great morality be brought from Buenos Aires." (Ross, 2003: 89) The above-mentioned sentences can show the importance of the Buenos Aires, which is perhaps the biggest city in Argentina

Creating specialized pediatric radiographic team Dissertation

Creating specialized pediatric radiographic team - Dissertation Example Without evaluation, it is almost impossible to note any changes that have taken place in the organization. The stakeholders rely on evaluation to ensure the project reaches its stated objectives and at the right time. Evaluation helps stakeholders and concerned parties to focus on any factor that has affected the project and to what limits. Some factors are seen to affect a project to greater levels, ensuring the project does not achieve its objectives. Some of these factors can be controlled while others are uncontrollable. Therefore, focusing on these factors prepares the management to ensure the project is designed to achieve its objectives (Rigby, 2003: 15). For instance, when the management knows that a factor is likely to affect a project, they indulge in control measures that will reduce the atrocities of the factor. Prevention will prepare the project to deal with these factors (Walshe and Smith, 2011: 11). As such, the project is likely to record a positive accrual. This wil l also benefit the managers as they will have a positive record during their tenure. However, some of these factors are uncontrollable. For instance, the external factors are not controllable by the project’s management. Therefore, there is a need to have a closer focus on these factors and enhance preparedness. This will assist in ensuring the factors do not affect the project adversely. Evaluation is a process that allows improvement and correction in some activities that were not well conducted. When evaluating a project, the management considers all the attributes in the project and their optimality. For instance, evaluating the machinery that is used in radiography is a process that will show its aptness in offering services. If the machine is working properly, then it will serve a large number of people (Ahmed, 2012: 12). However, when the machine is not working to its optimum levels, it is not likely to record an improvement. Therefore, banking on the optimality of mac hinery is likely to improve the services that are offered in a project. Many people that deal with projects savor the issue of evaluation as it has numerous positive attributes. First, the evaluation gives room for improvement in the project. Secondly, evaluation assists in making the possible changes. Lastly, evaluation assists in preparing a budget that would improve the overall performance of the project if it is restarted. There are three types of evaluation that are mostly engaged in projects. The first type of evaluation is the process evaluation. This type of evaluation banks on evaluating the policies that are instilled in the project. Policies are the directives and regulatory accounts that are used in running the project. This is mostly done by the management which is in control of the project. The policies have a direct impact on the performance of the project as they are the vital controls of the project. Therefore, there is a need to come up with a management that knows how to conduct policies and ensure all the directives are followed. During evaluation, there is focus on the directives and policies and how they have been implemented in the project (Gordon, Buchanan and Bretherton, 2008: 13). Secondly, there is the evaluation of materials that are used in the project. Materials are important in that they are the basic needs of any project. Before starting any project, the management has to ensure it has ample materials. Ample materials will ensure the project is

The Message Behind a Certain Short Story Essay Example for Free

The Message Behind a Certain Short Story Essay Are you at peace with yourself and the wrong-doings in your life? In the story Crimson Shadow, by Walter Mosley, a hardened ex-inmate, Socrates, takes in a young boy, Darryl, running from his terrible actions and tries to teach him a lesson. The author uses this scenario to in-turn teach the reader that you have to admit when you are wrong and to right those wrongs. Admitting to your wrong doings is the first step to making them right. If you learn you wrong then maybe you get to be a man [sic] (Walter Mosley 22). Socrates says this to Darryl when he is trying to get him to see that he was wrong for having killed a boy. If you dont realize youre wrong then you cant even begin to make it right. Part of being a real man/woman, in my eyes, is trying your hardest to right the wrongs in your life. If you are able to see when youre wrong and are able to admit to it, then you can start to learn from it. An if thats the truth, an if you could say it, then maybe youll learn sumpin [sic] (Mosley 22). This is what Socrates said to Darryl after he admitted to killing a boy and Darryl was trying to get him to admit that he was wrong. Once you are able to admit to your mistakes and learn from them and not continue to make the same mistakes, only then can you move on and give yourself a sort of peace of mind. Maybe youll laugh in the morning sometimes again [sic] (Mosley 22). Socrates uses this statement to get him to see that he can move on with his life somewhat if he can truly see that hes wrong and is able to admit to it. All in all, Walter Mosley did a great job with his characters and bringing this message out in his story. Socrates teaching this boy to admit and learn that he was wrong and maybe being able to get some peace from it, is a great lesson for all to learn whether you are a murderer or just an ordinary person having made some bad choices. So, the next time you do wrong make sure to make it right, if not for anything else, for yourself. Works Cited Mosley, Walter Crimson Shadow. Print

Assessment Of Pharmacology Teaching Nursing Essay

Assessment Of Pharmacology Teaching Nursing Essay Students feedback is an indicator of the success of any teaching methodology followed in a department. AIM/OBJECTIVE: To identify strengths and weaknesses in the current teaching-learning and evaluation methodology in pharmacology using feedback from second MBBS students in Meenakshi Medical College and Research Institute. MATERIALS AND METHODS: Questionnaire was designed and finalised after a departmental discussion in concurrence with Medical Education Unit. The study subjects were 115 (2011batch) second-year medical students. They were requested to fill the questionnaire. A 10-item multiple choice questionnaires were used to explore the students opinion on teaching. The questionnaires were analyzed. RESULTS: 115 II M.B.B.S students participated and descriptive statistics was used for analysis of data. The analysis revealed 82.82%, 72.17% and 93.64% students interest towards writing classification of drugs, weekly test and viva-voce respectively. CONCLUSION: The present study has h elped us to elicit the student preference regarding pharmacology teaching and its outcome would be helpful in modifying undergraduate pharmacology teaching pattern. KEY WORDS: Medical education, Pharmacology Assessment, Medical school learners. INTRODUCTION: The primary aim of teaching pharmacology to medical students is to train them on rational and scientific basis of therapeutics. Pharmacology teaching is facing a major challenge in the medical science due to constant reformation. Generally, there is a opinion that teaching pharmacology in medical schools has failed to keep in pace with the rapid changes in medical practice. Attempts have been made all over India to make teaching of pharmacology more interesting and relevant (Gitanjali.B.et.al. 2006). To make pharmacology teaching more innovative and interacting learning experience, efforts have been made by formulating new educational strategies to meet the educational objectives. Educational objectives can be evaluated by assessment procedures and timely feedback to achieve the learning goal. In Meenakshi Medical College and Research Institute, Pharmacology teaching comprises mostly of a series of didactic lectures using power point presentations covering general, systemic pharmacology and practical pharmacology which includes animal experiments and clinical pharmacology sessions spread over the academic year. To evaluate the students progress we conduct monthly internal assessment tests consisting of multiple choice questions, essay questions, short notes and ultra short notes for 3 hr time duration including model practical exams conducted twice in a year. Regular viva voce exams follow the monthly internal assessment test to develop their communication and interaction skills. Apart from this regular schedule of assessment, we also introduced a method of assignment on classification of drugs after each system. To reinforce the learning process, we implemented weekly test on the first hour of every week based on the lectures delivered over the previous week. The test was conducted for one hour which covered various portions of the chapter in detail testing the levels of knowledge. After completing the above schedule meticulously, at the end of the year to understand the beneficiaries opinion we planned to collect the students feedback. Currently the students feedback represents the primary means used by different programs to assess their methodology (Richardson B.K.2004). Feedback helps in correcting mistakes, reinforcing good performances and incorporating students view in teaching methodology. It is accepted that reviewing the teaching and evaluation methods by feedback from students and modifying of methodologies accordingly is very important for the undergraduate medical teaching. (Ruth N 2000, Victoroff KZ 2006) Thus the present study is an effort to obtain and analyze critical appraisal on, The student attitude toward teaching and learning pharmacology in Meenakshi Medical College and Research Institute, Enathur, Kanchipuram. Assessment of pharmacology teaching using student feedback. Methods to improve the teaching of pharmacology. Materials and Methods: A questionnaire was designed to obtain feedback and finalized after a departmental discussion with concurrence of Medical Education Unit. The study subjects were 115-second year MBBS students of 2011 batch studying in Meenakshi Medical College and Research Institute, Enathur, Kanchipuram. All the students enrolled in the study were requested to fill up the questionnaire. The study was conducted at the end of their academic year in Department of Pharmacology. A ten-item multiple choice questionnaires and an open ended question for suggestion were provided to explore the students opinion on teaching and learning methods imparted. The questionnaire was analyzed by two observers. The questionnaire was designed in such a way to assess the knowledge, their attitude and skills developed during their one and half year course in pharmacology. Both the theoretical and practical pharmacology practiced by different methods during their study period were evaluated from the feedback form. Statistics: Descriptive statistics was used for analysis of data. Frequency was shown as percentage. Results: One hundred and fifteen students of II MBBS participated and responded in the questionnaire study. Based on the pattern of studying pharmacology,48.69% studied pharmacology once or twice a week on regular basis and 34.78% opted studying only for monthly tests and viva voce exams which reflects on their regular preparation for monthly internal assessment test(TABLE-1).54.75% of students preferred lecture notes and text books as the source of studying pharmacology. TABLE -1 Majority (87.82%) of students approved writing and maintaining classification of drugs. 53.91% have opined that the assignments had improved in better understanding about the different classes of drugs.43.47% of them have reported its usefulness to memorize and reproduce in the test and also to apply in their clinical postings. Among the assessment methods, 54.78% of students favored monthly internal assessment test for their significant improvement in their academic performance. In the weekly test conducted, 72.17% of students found weekly lectures correlating with weekly tests, 51.30% of students mentioned that the true or false part of the weekly tests created interest (TABLE-2). TABLE-2 Majority (66.95%) of students preferred regular tests in clinical pharmacology sessions when compared to the experimental pharmacology. Most (93.64%) of the students have mentioned regular viva-voce exams following monthly internal assessment test had improved their communication skills. Among the teaching learning methods practiced, 52.17% of students preferred theory lectures followed by clinical pharmacology sessions 46.95% and group discussions 45.21%(TABLE-3). TABLE-3 Discussion: Feedback is defined as a response within a system that influences continuous activity or productivity of that system. In the present study on educational context, it would mean a response from the learner about the teaching learning process. Feedback is essential to find out the effectiveness of the process, the need to change it, as well as, to evolve strategy for its improvement. From the feedback evaluation obtained, it is observed that students like to study pharmacology by regular test / viva and interactive classes so by these way students understand the subject properly (Nilesh Chavda 2011 et.al). This is very much correlating in the present study feedback results. It was found that students preferred writing and maintaining classification of drugs throughout their academic year, which were corrected periodically by the faculty, who played the role of mentor for the given group of students to cultivate and sustain the habit. Writing classification of drugs by medical school learners has helped them to understand the different classes of drugs and also to systematically memorize and reproduce in the written test as well as the knowledge application in clinical rotations (TABLE-4). TABLE-4 Students opined that monthly internal assessment test was mostly useful than the weekly written test for their academic performance in theory exams, the reason for the following may be monthly internal assessment pattern is similar to that of university examination. The weekly written test has definitely kept the students in pace with the portions being completed every week. By answering the weekly test their preparation, facing and performing monthly internal assessment had become extremely comfortable and confident . The weekly test had various parts, students considered true or false part of the weekly test has created interested in them, the fact to get such a feedback may be the chances of getting the wrong answer is only 50%. Also they have mentioned that, Match the following with extended responses have stimulated their thought process to find the correct response. The feedback also emphasized the students interest towards more interactive sessions on Clinical pharmacology exe rcises and felt it should be given regular emphasis than the animal experiments. According to Gibbs G et al, 1987 active review during the lecture, involving students in structured discussions, using questionnaires and asking them to summarize are the three most important things to be followed and practiced for a effective teaching-learning process. To conclude though the teaching learning method implemented in the present study required a lot of strenuous hard work from the faculty particularly preparing questions, organizing test and more importantly correcting all the papers in a week period, it has created an interest in learning pharmacology among students. The feedback from learners has clearly exhibited their likeliness for the variety or different methodological approach instead of regular didactic lectures offered by the department of Pharmacology. Acknowledgements: We sincerely thank our II M.B.B.S Students of Meenakshi Medical College Research Institute (GRIFFINZ) for the participation

Essay on Milkman’s Search for Identity in Song of Solomon

Milkman’s Search for Identity in Song of Solomon      Ã‚   Song of Solomon tells the story of Dead's unwitting search for identity. Milkman appears to be destined for a life of self-alienation and isolation because of his commitment to the materialism and the linear conception of time that are part of the legacy he receives from his father, Macon Dead. However, during a trip to his ancestral home, â€Å"Milkman comes to understand his place in a cultural and familial community and to appreciate the value of conceiving of time as a cyclical process†(Smith 58).    The Deads exemplify the patriarchal, nuclear family that has traditionally been a stable and critical feature not only of American society but of Western civilization in general. The primary institution for the reproduction and maintenance of children, ideally it provides individuals with the means for understanding their place in the world. The degeneration of the Dead family and the destructiveness of Macon's rugged individualism symbolize the invalidity of American, indeed Western, values. Morrison's depiction of this ...

The Role of Historians :: essays research papers

The Role of Historians Professional historians spend their lives pursuing the meaning of the past for the present." Everything that exists in today's world has some origin coming from the past. Everything that exists today and seems to be unique of its time has some basis from the past. It is a known fact that history has a tendency of repeating itself, and so to prepare us for the future we need to understand the past. History can give a person an answer to almost everything that is going on in the present, with what we call a historical investigation. History not only states facts but explains disciplines such as sociology, religion, psychology, anthropology and so on. It explains to us why certain events happened, such as the reason why six millions Jews died in the Second World War. The reason history gives us is anti-Semitism. The Nazis were a group that had as a goal to purify the world of what we call minorities and so to keep it a White, straight, Christian world. History explains the evolution of things, people, beliefs, laws and many more in order for us to understand why certain things are the way they are. In this article, we come across a few major points. Each of them is introduced in a very original way. The author uses a literal journey into the past as a means of comparing it to the present. One of the many points is an in depth definition of history related profession. What are they trying to accomplish and how they work to get what they are looking for. "Professional historians spend their lives pursuing the meaning of the past for the present." Historians study facts and records that previous generations have left, to find out what kind of lives they led and how they solved their problems. The way a historian works is very determined and simple to understand. A historian needs to first choose an important question he wants to answer. Then he needs to find research on the subject that already exists and which he can get access to. Next he has to judge the source that he has obtained, is it credible? Is it genuine? The article explains that there are two basic forms of historical evidence that exist, primary and secondary. Primary evidence records the actual words of someone who participated or witnessed the events in question. Or it can also be newspaper accounts, diaries, official statements, photographs, videotapes. Secondary evidence, on the other hand, records the findings of someone who did not observe the event but who investigated primary evidence,

Micah

How does the life and ministry of Jesus reflect the words of this verse from Micah? Christians believe that Jesus Christ was a man who lived about 2,000 years ago in Palestine and that he was the Son of God. By his death and Resurrection, Christians believe Jesus saved people from their sins. They try to follow Jesus’ example in their daily lives and use his teachings as a guide to how God wishes them to live. In Micah chapter 6 verse 8 stated that â€Å"he has showed you, o man, what is good. And what does the Lord require of you? To act justly and to love mercy and to walk humbly with your God.† This would mean that God requires us to do things justly and treat others without partiality; thus, loving other people regardless of his race, background and weaknesses and be sober in spirit. In addition, this verse talks about the very nature of Jesus Christ. We learn that Jesus Christ is the son of God who is full of compassion and believes as the author of perfect love. He comes to the world in obedience and love to the father in order to show his great love to everyone that while we are still sinners Jesus Christ die for us. Jesus Christ knows that our final destination is on hell because our impurities separate us from God. But because of his love, he does an amazing decision that will help us to be in heaven. Jesus Christ has been compassionate to those who are poor (especially to those who are spiritually blind and gone astray). His ultimate expression of love is when he obeys God the father to lay down his life for the benefit of everyone in spite of the fact that he is not guilty of sin. Jesus Christ doesn’t deserve the death that he is been through but he sacrifices himself in exchange for the salvation of the mankind; thus, he has never been selfish and never withholds his life because of his great love for his people. He doesn’t want to see everyone perish but come into repentance. He wants everyone to have an access to God the father through his death and resurrection. It is been written in the Bible that without the remission of blood there is no forgiveness so once and for all, Jesus Christ die for us so that we can receive forgiveness through his name and to end our sacrificial offering when we sin. Jesus Christ becomes our sacrificial lamb and his precious blood cleanses us as we ask forgiveness from him. He has done everything because of his great love for us. Moreover, Jesus Christ is a just individual. He does not condemn people who sin or commit mistakes but he listens heartily and forgives them if the individual confesses his sins. Just like the Samaritan woman who has many husbands. The woman is guilty of sin because she commits adultery. When Jesus meets her on the well, he never rejects her but is able to talk to the woman and asks for a drink. The woman tries to make alibis but Jesus talks to her in a sober manner. He even asks her about her husband and the woman is convicted of her sin so she replies that she has many husbands. Jesus already learns about it because he is an all-knowing God but despite of that, Jesus never judge the woman but instead tell her to go to her husband and sin no more. The woman feels such joy because that is the first time she has not been condemned by a Jew and most especially a Savior has forgiven her sin. Although Jesus Christ is 100% God and 100 % man and owns the riches that we can never think of yet he walks humbly with his people. He never brags his riches. He comes to the world to serve and not to be served. He walks with different kinds of people; may it be rich or poor. Jesus Christ even associates with out cast people who are suffering from leprosy. Many officials especially the Pharisees question his motives yet they cannot find any fault on him because they know that Jesus Christ has perfectly obeyed the word of God. Many scholars try to scrutinize the authenticity of divinity of Jesus Christ. This is not new anymore because even during the time of Jesus, there were people who â€Å"doubt† his identity especially the Pharisees because they were threatened by his presence. For other religions, they consider Jesus as prophet and not a God. But of all the prophets that we have on the face of the earth, only the name of Jesus Christ that was ever recorded in the history that he himself raised from the dead and through his name, an individual can cast out demons. Isn’t that amazing?   

Cheque Truncation System

Lawyersclubindia Article : Cheque truncation in the Indian Scenario Page 1 of 3 Cheque truncation in the Indian Scenario During the last two decades or so the attitude and lifestyle of the consumers of banking service have been influenced by the advancement in technology. In tune with technological changes the banksaâ‚ ¬Ã¢â€ž ¢ delivery system has to undergo tremendous transformation. The financial reforms process has enabled many competitors to enter the financial services market with a higher degree of efficiency and customer friendly behaviour. The public sector banks although reacted promptly to the new challenges, have not kept pace with the new entrants in the arena because of their inherent limitations. Under the impact of technology, the banks have been trying to innovate newer products and services to become more competitive in the ever demanding customer driven market. The technology has made it possible for the banks to come to terms with the demands of customers. The system of cheque truncation is prevalent in several foreign countries. Denmark and Belgium are the pioneers in the truncation system. They adopted complete cheque truncation system more than two decades ago. Sweden is the typical example for having achieved complete truncation where all the cheques can be presented and encashed at any branch; irrespective of the bank on which they are drawn. The process of cheque truncation is not only quick but also meets the requirements of future electronic transactions. In India the collection and payment of cheques is governed by the provisions of the Negotiable Instruments Act, 1881 which requires that the instruments must be in writing and have to be physically presented for payment in due course (before the amendment in the Negotiable Instruments Act). In view of this requirement the time taken for the processing of cheques, etc. was long particularly for the outstation cheques. In a country like India, the time taken for collection of outstation cheques is rather tiring for the customers. With the advent of technology, the Government of India and Reserve Bank of India took initiative to improve the customer service. The working group constituted in 1982 to consider the feasibility of introduction of MICR/OCR technology for cheque processing recommended that India should join SWIFT (Society for Worldwide Interbank Financial Telecommunication) Network for the transmission and reception of international financial messages as well as instil electronic forms of monetary transaction in the Indian economic transactions. The term aâ‚ ¬? hequeaâ‚ ¬ has been defined in Section 6 of the Negotiable Instruments Act as aâ‚ ¬? bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demandaâ‚ ¬ . As per definition it is essential that cheque should be presented for payment. But in truncation, the physical cheque is not presented but only its image shall be transmitted to the paying branch. ** In common parlance the word aâ‚ ¬? tru ncatedaâ‚ ¬ means deformed, disfigured, mutilated, etc. As per the Negotiable Instruments Act, the truncated cheque means a cheque which is truncated during the course of a clearing cycle. The process of truncation requires the banker to convert the cheque data into electronic form for the purpose of safe keeping or to return the cheques at the request of the banker or to provide information on cheques as and when requested. The cheque in the electronic form means a cheque which contains the exact mirror image of a paper cheque and is generated, written and signed in a secure system ensuring minimum safety standards with the use of digital signatures (with or without biometric signature) and http://www. lawyersclubindia. com/articles/print_this_page. asp? rticle_id=250 7/24/2011 Lawyersclubindia Article : Cheque truncation in the Indian Scenario Page 2 of 3 asymmetric crypto system. Features of truncated cheque system With the advent of technology and cyber era, security of the system has acquired prime importance. No doubt, the financial institutions have started providing fast services than ever before. But the technology has brought in its trail security problem als o. Under the cheque truncation system, therefore, the image of the cheque is captured at the point of deposit where it is sealed and encrypted before its transmission. This renders it tamper proof. This is done strictly as per international standards. The transmission between the presenting, paying and payee bank is authenticated by a certificate authority as part of the public key infrastructure. The process of image certification at the banks is certified by an independent auditor to ensure that it conforms to the requirements of the laws of evidence of that country. Under the cheque truncation system all cheques are transmitted electronically. The original cheques are retained by the collecting banker. Indian scenario Truncation of cheques can be done by the clearing house or the bank which collects the truncated version of the cheque. As per Section 81 of the Negotiable Instruments Act, the banker who receives the payment, is also supposed to retain the copy of the cheque even after payment has been done. Section 89 of the Negotiable Instruments Act says that any distinction between the original cheque and the truncated image should be construed as material alteration. In such cases it is obligatory on the part of the clearing house or the bank to ensure the correctness of the truncated image while transmitting the image. An explanation has been added to Section 131 of the Negotiable Instruments Act vide the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002. It says that it shall be the duty of the banker who receives payment based on an electronic image of a truncated cheque to ensure that there is no fraud, forgery or tampering apparent on the face of the instrument. It would be seen that after the amendment the responsibility of the collecting bank has increased manifold. Earlier it was the position that if he collects any instrument in good faith and without negligence he was not liable for any fraud, etc. But after the amendment it is obligatory upon the collecting bank to verify the genuineness of the cheque with greater degree i. e. due diligence. Hence the cheque truncation system has burdened the collecting banker with a greater degree of responsibility. As per sub section (2) of Section 64 of the Negotiable Instruments Act, where an electronic image of a truncated cheque is presented for payment, the drawee bank is entitled to demand any further information regarding the truncated cheque from the bank holding the truncated cheque in case of any reasonable suspicion. Two new sub-sections have been added to Section 89. As per these sub sections any difference in apparent tenor of electronic image and the truncated cheque shall be a material alteration and it shall be the duty of the bank or the clearing ouse, as the case may be, to ensure the exactness of the apparent tenor of electronic image of the truncated cheque while truncating and transmitting the image. In spite of the advantages, the truncation system has its own drawbacks. The truncated cheques are vulnerable to fraudsters who can hack into this system and change the contents of the cheques. So the security of the system must be ensured. RBI has taken upon itself setting up of a safe, secure and http://www. lawyersclubindia. com/articles/print_this_page. asp? article_id=250 7/24/2011 Lawyersclubindia Article : Cheque truncation in the Indian Scenario Page 3 of 3 efficient communication network for the exclusive use of the banking sector known as INFINET (Indian Financial Network). This network is already being used by a large number of banks for transfer of funds. INFINET uses the latest technology and security called PKI (Public Key Infrastructure) which is within the legal requirements of the Information Technology Act, 2000. Source : – http://www. ebc-india. com/practicallawyer/index. php? option=com_content&task=view&id=8047&Itemid=54 http://www. lawyersclubindia. com/articles/print_this_page. asp? article_id=250 7/24/2011