My Personal Strengths and Weaknesses Essay -- Personal Narrative Essays

I believe that life is a learning experience and being up to(p) to roll in the hay our own strengths and weaknesses go off help us become best(p) individuals in anything we choose to do, whether it is positive abilities and skills that can help achieve our goals or minus personal areas that need improvement. Knowing yourself and what you can do, can help you recognize and overcome your weaknesses.One of my sterling(prenominal) strengths at scat that I have recognise would have to be my ability to be a well-organized individual. I list to write what I have to do down on paper and place what is more important to least important. In doing this, it helps me organize and accomplish my work and meet deadlines that are important. A personal strength that I have at home is patience. I am a mother of a well-favored three year old little girl who is a handful. Patience is my greatest strength as a parent and individual which I own especially being a single mother. I am a consecrate and hard working mother and I always make reliable that my daughter gets the love and attention she needs. In my Learning team, my personal strength is having dandy community skills. I meet and get involved with new people everyday whether it be work or school related. I enjoy speaking, earshot and giving input to my team members so that they are aware that they can count on me to participate as a team player in our Learning Team. Good people skills are very important in a group setting because of all the di... My Personal Strengths and Weaknesses Essay -- Personal yarn EssaysI believe that life is a learning experience and being able to recognize our own strengths and weaknesses can help us become better individuals in anything we choose to do, whether it is positive abilities and skills that can help achieve our goals or negative personal areas that need improvement. Knowing yourself and what you can do, can help you recognize and overcome your weaknesses.One o f my greatest strengths at work that I have recognized would have to be my ability to be a well-organized individual. I tend to write what I have to do down on paper and prioritize what is more important to least important. In doing this, it helps me organize and accomplish my work and meet deadlines that are important. A personal strength that I have at home is patience. I am a mother of a beautiful three year old little girl who is a handful. Patience is my greatest strength as a parent and individual which I possess especially being a single mother. I am a dedicated and hard working mother and I always make sure that my daughter gets the love and attention she needs. In my Learning team, my personal strength is having good people skills. I meet and get involved with new people everyday whether it be work or school related. I enjoy speaking, listening and giving input to my team members so that they are aware that they can count on me to participate as a team player in our Learnin g Team. Good people skills are very important in a group setting because of all the di...

Schizophrenia and The Strange Case of Dr. Jekyll and Mr. Hyde :: Strange Case of Dr. Jekyll and Mr. Hyde

Schizophrenia and The Strange Case of Dr. Jekyll and Mr. Hyde The name schizophrenia is derived from schizo, which means rending of the mind (Tsuang 11), and phrenia which is derived from the phrenic area which is just above the kidneys where the diaphragm is located. It is a structure innervated by the phrenic nerve. The Greeks and others assumed that the phrenic area was the seat of conception or at least feelings (Berle 12). Up to the 1600s, people with psychotic disorders were sent off in ships of fools, locked in cages, flogged into reason, or killed. The care for the insane at this time was the responsibility of nuns and monks (Noll, xviii). In the 1700s, mad doctors or doctors specializing in the mentally ill. They began to devise their own unique classification system for mental disorders. Many cases of what we would today call schizophrenia were probably classified under one or more of these early attempts to devise a more scientific method of perceptiveness mental illn ess(Noll, xix). Doctors at this time described the symptoms of schizophrenia somewhat differently (Berle, 14). In 1809, the first clinical descriptions of schizophrenia were written by J. Haslam, however, afterward it was found that he described a disease called hebephrenia. Some symptoms he included were loss of memory, more prevalent in females, sensibility blunted, onset at puberty, unconnected with heredity, cyclic, no affection towards parents, inactivity, apathetic, inattention to cleanliness, etc. (Berle 4,5). There is still no unanimously accepted explanation of schizophrenia, and appreciable differences exist between the narrowest and widest definition (Tsuang 13). It is a disease that includes a disturbance in cognition that renders the individual out of touch with reality. Emotions are distorted in schizophrenia and they are typified by being socially withdrawn (Lahey 555). The characteristic symptoms start between the age of 18 and 30. Symptoms include hallucinations a nd/or delusions. Hallucinations can have various modes. auditive hallucinations are the most common. These may involve hearing a voice or voices talking to each other and/or to the patient. Visual hallucinations are slight common and involve the patient believing they see an object that is not present. Tactile hallucinations are the least common and involve the patient thinking that somebody or something is touching them (Nienhuis). Delusions are false or irrational beliefs that are firmly held despite obvious evidence to the contrary. Most common are persecutory, grandiose, and ghostly delusions.

How Well Did The English Exchequer Function In The Twelfth Century? :: essays research papers

How Well Did the side of meat Exchequer perish in the Twelfth Century?     The English exchequer was the central board responsible for wholly incomings and out goings into the royal exchequer. It arrived with the Normans andwas the first system of centralise revenue extraction to appear that although complete(a) was a read predecessor to the modern one.     The information on how the Exchequer functioned as a method of charge revenue extraction is from the The course of the Exchequer write by Richard son of Nigel. The text provides a one sided argument intothe merits of the Exchequer as Richard himself is the treasurer. The text iswritten in a typically classical confabulation style with a master dictating to hisscholar. Richard also presents himself as a well educated and intelligent manthrough his accomplish of Latin and his quotations from Biblical and classical textsas well as alluding to philosophy through his talk of logic. &n bsp   The interesting proposition therefore is who was interested in much(prenominal) acomplicated text and why was it produced. The system of the Exchequer was acomplex one that would have been understood by few at the time. By attemptingto describe this system in a way that presents it as equitable, it could haveconvinced the Barons and others paying taxes of the validity and fairness of asystem of which they would have had low comprehension. This would also behelped by Richards plainly good grasp of the area.The Exchequer board was the highest office that could be obtained in theroyal circle and was the most strong and prestigious as it presided over all monetary matters. It allowed records to be formed and general standards to bemaintained. The ultimate power of the exchequer is aptly put in the text..."where your treasure is, there will your stock ticker be also.The Exchequer had a greater role than just recording revenue as itprovided a assembly where judg ments could be made and disputes about financialmatters could be settled. It also saw keep in lines depersonalized through the useof writs which can be described as the routinization of charisma (Clanchy,1979). The King no longer had to have any direct influence over a command andsome form of general standard could be applied.     In command of the Exchequer was the Kings Chief Justiciar who was efficaciously second in command from the King. He presided over the whole boardand was the only one besides the force himself who could reverse decisions oncethey had been made. Any writs from the treasury for payment and expenditure hadHow Well Did The English Exchequer Function In The Twelfth Century? essays research papers How Well Did the English Exchequer Function in the Twelfth Century?     The English exchequer was the central board responsible for all incomings and out goings into the royal treasury. It arrived with the Normans andwas the first system of centralized revenue extraction to appear that althoughcrude was a direct predecessor to the modern one.     The information on how the Exchequer functioned as a method ofinstitutionalised revenue extraction is from the The course of the Exchequerwritten by Richard son of Nigel. The text provides a one sided argument intothe merits of the Exchequer as Richard himself is the treasurer. The text iswritten in a typically classical dialogue style with a master dictating to hisscholar. Richard also presents himself as a well educated and intelligent manthrough his grasp of Latin and his quotations from Biblical and classical textsas well as alluding to philosophy through his talk of logic.     The interesting proposition therefore is who was interested in such acomplicated text and why was it produced. The system of the Exchequer was acomplex one that would have been understood by few at the time. By attemptingto describe this system in a way that presents it as equitable, it could haveconvinced the Barons and others paying taxes of the validity and fairness of asystem of which they would have had little comprehension. This would also behelped by Richards apparently good grasp of the area.The Exchequer board was the highest office that could be obtained in theroyal circle and was the most powerful and prestigious as it presided over allfinancial matters. It allowed records to be formed and general standards to bemaintained. The ultimate power of the exchequer is aptly put in the text..."where your treasure is, there will your heart be also.The Exchequer had a greater role than just recording revenue as itprovided a forum where judgments could be made and disputes about financialmatters could be settled. It also saw commands depersonalized through the useof writs which can be described as the routinization of charisma (Clanchy,1979). The King no longer had to have any direct influence over a command andsome form of general standard could be applied.     In command of the Exchequer was the Kings Chief Justiciar who waseffectively second in command from the King. He presided over the whole boardand was the only one besides the king himself who could reverse decisions oncethey had been made. Any writs from the treasury for payment and expenditure had

Into Thin Air, by Jon Krakauer Essay -- Into Thin Air, Jon Krakauer

In the novel Into Thin Air, the author Jon Krakauer shows us two characters who turn in some similarities, yet atomic number 18 markedly different. Rob house and Scott Fischer are both world renowned mountain climbers as well as the leaders and head guides of their own mountain raise enterprises. Each employ the take note of his peers, yet here is where the similarities end. With differences in their physical stature, climbing styles, and safety concerns, it would seem that genius was destined to succeed and other to fail.Krakauer describes dormitory room as being a thirty-five-year-old man standing at six foot three or iv and skinny as a pole (31). His approach to climbing and direct was meticulous and demanding. He paid close at ten dollar billtion to levels and had an intense proneness to succeed. Hall made many successful climbs prior to his attempt at Everest. In 1990, after three separate attempts over a span of ten years, Hall finally made the summit of Everest. Hal ls zeal for publicity had allowed him the success of his prior climbs, but he decided that the guiding origin was preferable to constantly pursuing sponsorships. After creating Adventure Consultants, his mountain climbing enterprise, Hall became very successful at getting his clients to the top of Mount Everest. By 1996, he was charging sixty-five thousand dollars per person. This fee was the highest of all the companies on Mt. Everest.Halls success rate was not only due to his attention to detail but his attention to safety and the knowledge that without the Sherpas, any attempt at guiding on Everest would be disastrous. Halls ability to plan and co-ordinate ensured that his clients had plenty of food and supplies and that they became acclimatized to the higher altitudes. Each base camp ... ... Scotts clients who were sick, instead of a Sherpa, I dont think he would declare been treated so haphazardly (113). Had Fischer not had such a sluttish approach to climbing, a guide wo uld have been with Ngawang Toche and had him down the mountain sooner.While Hall was the better guide, both gentlemen held the respect of their peers for their individual climbing skills. Of the climbers on the mountains that day, they were considered the best. and despite their skills or their ability to guide, both succumbed to the catastrophe on the mountain. Krakauer admired both Hall and Fischer for different reasons, yet he uses them as examples to show us that no matter how good, passionate, or skillful a person might be, the tragedy on the mountain was a cascade effect beyond gracious control.Works CitedKrakauer, Jon. Into Thin Air. Digital ed. New York Random House, 2000. Into Thin Air, by Jon Krakauer strain -- Into Thin Air, Jon KrakauerIn the novel Into Thin Air, the author Jon Krakauer shows us two characters who have some similarities, yet are markedly different. Rob Hall and Scott Fischer are both world renowned mountain climbers as well as the lea ders and head guides of their own mountain climbing enterprises. Each employ the respect of his peers, yet here is where the similarities end. With differences in their physical stature, climbing styles, and safety concerns, it would seem that one was destined to succeed and other to fail.Krakauer describes Hall as being a thirty-five-year-old man standing at six foot three or four and skinny as a pole (31). His approach to climbing and guiding was meticulous and demanding. He paid close attention to details and had an intense desire to succeed. Hall made many successful climbs prior to his attempt at Everest. In 1990, after three separate attempts over a span of ten years, Hall finally made the summit of Everest. Halls flair for publicity had allowed him the success of his prior climbs, but he decided that the guiding business was preferable to constantly pursuing sponsorships. After creating Adventure Consultants, his mountain climbing enterprise, Hall became very successful at ge tting his clients to the top of Mount Everest. By 1996, he was charging sixty-five thousand dollars per person. This fee was the highest of all the companies on Mt. Everest.Halls success rate was not only due to his attention to detail but his attention to safety and the knowledge that without the Sherpas, any attempt at guiding on Everest would be disastrous. Halls ability to plan and coordinate ensured that his clients had plenty of food and supplies and that they became acclimatized to the higher altitudes. Each base camp ... ... Scotts clients who were sick, instead of a Sherpa, I dont think he would have been treated so haphazardly (113). Had Fischer not had such a lax approach to climbing, a guide would have been with Ngawang Toche and had him down the mountain sooner.While Hall was the better guide, both gentlemen held the respect of their peers for their individual climbing skills. Of the climbers on the mountains that day, they were considered the best. Yet despite their s kills or their ability to guide, both succumbed to the tragedy on the mountain. Krakauer admired both Hall and Fischer for different reasons, yet he uses them as examples to show us that no matter how good, passionate, or skillful a person might be, the tragedy on the mountain was a cascade effect beyond human control.Works CitedKrakauer, Jon. Into Thin Air. Digital ed. New York Random House, 2000.

The First World War (WWI) :: World War 1 I One

Chapter 1 The Right to Make WarSince 1795, when Immanuel Kant published in his old age his treatise on "Perpetual Peace," many have considered it an established detail that war is the destruction of all in all good and the origin of all evil. In spite of all that history teaches, no conviction is felt that the struggle between nations is inevitable, and the growth of civilization is credited with a power to which war essential yield. But, undisturbed by such human theories and the change of times, war has again and again marched from country to country with the clash of arms, and has proved its destructive as wholesome as creative and purifying power. It has not succeeded in teaching mankind what its real nature is. Long periods of war, far from convincing men of the necessity of war, have, on the contrary, always revived the wish to exclude war, where possible, from the political intercourse of nations.This wish and this hope are widely disseminated even today. The main tenance of peace is lauded as the exactly goal at which statesmanship should aim. This unqualified desire for peace has obtained in our days a quite peculiar power over mens spirits. This dreaming finds its public expression in peace leagues and peace congresses the Press of every country and of every party opens its columns to it. The current in this direction is, indeed, so sanitary that the majority of Governments profess--outwardly, at any rate--that the necessity of maintaining peace is the real aim of their policy while when a war breaks out the aggressor is universally stigmatized, and all Governments exert themselves, partly in reality, partly in pretense, to extinguish the conflagration.Pacific ideals, to be sure, are seldom the real motive of their follow out. They usually employ the need of peace as a cloak under which to promote their own political aims. This was the real position of affairs at the Hague Congresses,1 and this is also the meaning of the action of the United States of America, who in recent times have earnestly tried to conclude treaties for the establishment of arbitrement Courts, first and foremost with England, but also with Japan, France, and Germany. No practical results, it must be said, have so far been achieved.We can hardly assume that a real love of peace prompts these efforts. This is shown by the fact that precisely those Powers which, as the weaker, are exposed to aggression, and therefore were in the greatest need of international protection, have been completely passed over in the American proposals for Arbitration Courts.

The First World War (WWI) :: World War 1 I One

Chapter 1 The Right to Make WarSince 1795, when Immanuel Kant published in his old age his treatise on " double-dyed(a) Peace," many defy considered it an established fact that war is the destruction of all good and the origin of all evil. In spite of all that history teaches, no conviction is felt that the struggle between nations is inevitable, and the growth of civilization is credited with a power to which war must yield. But, undisturbed by such valet de chambre theories and the change of clock, war has again and again marched from country to country with the clash of arms, and has proved its destructive as well as creative and purifying power. It has not succeeded in teaching mankind what its real nature is. Long periods of war, far from convincing men of the urgency of war, have, on the contrary, always revived the wish to splay war, where possible, from the political intercourse of nations.This wish and this hope are widely disseminated even today. The maintenan ce of quiet is lauded as the only goal at which statesmanship should aim. This clean desire for peace has obtained in our days a quite peculiar power over mens spirits. This aspiration finds its public expression in peace leagues and peace congresses the Press of every country and of every party opens its columns to it. The current in this direction is, indeed, so strong that the majority of Governments profess--outwardly, at any rate--that the necessity of maintaining peace is the real aim of their policy while when a war breaks out the aggressor is universally stigmatized, and all Governments exert themselves, partially in reality, partly in pretense, to extinguish the conflagration.Pacific ideals, to be sure, are seldom the real motive of their action. They usually employ the need of peace as a dissemble under which to promote their own political aims. This was the real position of affairs at the Hague Congresses,1 and this is also the meaning of the action of the United State s of America, who in recent times have earnestly tried to conclude treaties for the establishment of Arbitration Courts, first and foremost with England, but also with Japan, France, and Germany. No practical results, it must be said, have so far been achieved.We can hardly assume that a real love of peace prompts these efforts. This is shown by the fact that precisely those Powers which, as the weaker, are exposed to aggression, and therefore were in the greatest need of international protection, have been completely passed over in the American proposals for Arbitration Courts.

Lucy Essay Essay

We all realize that us humans have some sort of relation to apes and chimpanzees, scarce what evolved us from them to decorous bipedal hominids? In this essay I will be inculcating you about the evolution of humans, the captivating disc o real of Lucy, an genus Australopithecus a utmostensis, and how her uncovering of a tonic species is so important to our advancement. Lucy is our oldest, most complete human ancestor and it lead to a controversial change in our view of human origins.Lucy is a 3. 15 gazillion year old female hominid, of the genus Australopithecus, whose skeleton was uncovered on November 24, 1974 by Donald C. Johanson and Tom Gray in the Hadar region of Ethiopia. Donald Johansons first discovery consisted of a few pieces of a knee bone. He sent the bones to Owen Lovejoy, who was an anatomist and part-time forensic expert. He then examined the bone fragments and concluded that they appeared human, that the joint could lock, which meant the carnal could mountain p ass upright. This was an important discovery showing an ancient bipedal creature.They named their discovery, Lucy in reference to the well-known Beatles song Lucy in the Sky with Diamonds, which played over and over as they celebrated their findings. While only 40% of the skeleton was found, this uncovering of Lucy was very fascinating and answered many questions to our human evolution because it was the missing link amongst apes and the upbringing of hominids. The discoverers called Lucy, Australopithecus afarensis which stands for southern ape of the Afar region. This genus was one of the earliest species of hominids the family of bipedal primates also includes homo hablis and homo erectus.While Australopithecus and Homo species vary in many ways, both hominids share common characteristics that define them as a group. The most distinct of these traits is bipedal locomotion, which means they could walk upright instead on being on all foursomes similar apes. The particular and re volutionary characteristics of Lucy is that she had a small skull, a bipedal knee structure, molars, and preliminary teeth of human form and size. Lucys skeleton proves that her kind was bipedal by the shape of her pelvis and the angle the femur takes from the hip socket to the knee joint.From her shank down she was hominid, and from her waist up she was still ape, as her skull was still the size of a chimpanzee. Her b rain down size varies in range from 365 to 385 cubic centimeters and had hand and repel cortex. Her species has a prolonged mouth, strong brow line, and a small forehead. She stood about three and a half feet high and weighed 60-65 pounds. The males were about twice the females size ranging from four to four and a half feet tall. This species also had about 100-120 different calls, hand gestures and signals.This suggests a intricate social and mating system. Evidence shows that she was probably young scarce fully mature when she died of natural causes. Her corpse is likely known to have sunk into a lake and over millions of years, the lake dried up, buried, and harden her bones which eventually fossilized them and preserved them for us to discover. The following year, again at the famous site of Hadar, Ethiopia, Donald Johansons team made the ground breaking discovery of the fossilized system of some 13 individuals, known as the First Family.They believed that at that time, there was a mud slide that buried and killed tons of these creatures, in all bestride range, from babies to adults, both male and females. This was believed to be the oldest evidence of human ancestors funding in groups. It had also provided us with much more understanding of their lifestyle and habitat. Lucy lived at a time when the Hadar region was not a desert environment like it is today. Instead, it was thought to be more like a woodlands and savannah domain.A. farensis, was not entirely ape and yet not quite human, is thought to have probably lived in a variety of habitats. Having evolved into being bipedal as an adaptation to living in the open areas, like grasslands with few trees. They were thought to feed for seeds, berries, fruit, tubers, nuts and termites. The benefit of being able to walk upright gave them the advantage of free reach to grab food or carry their young, looking over high grassland, and developing a bigger brain. Unfortunately for them, they had long dry seasons with no rain which made the food source scarce.Without bipedalism we wouldnt be able to develop into the hominids that we have become. The Hardy Weinbergs equation is important for the concept of population genetics. In order for Hardy-Weinbergs equilibrium of no evolution occurring to work, the following seven conditions must be met no mutations must occur so that new alleles do not enter, no gene flow can occur, random mating must occur, everyone produces the same number of offspring, the population must be large so that there is no genetic drift, natural s election is not occurring, and all members are breeding in the population.This equation does not work with humans because we do not randomly mate. Usually individuals choose a spouse who has positive attributes that they like, which can include personality, taste, attractive, good with children, intelligence, sometimes race/color, height, humor, etc. In Lucy scathe they would want someone who is a good hunter, provider, and smart but they wouldnt get that option of being picky because they couldnt travel very far to selection their peculiar mate.Also, natural selection happens all the time as well as mutations but most are not harmful. So if you were to defy this to the A. afarensis, the majority would disprove this equation. A. afarensis were also good at tool making. They used horns and bones as tools but not as weapons, as many lot though they did. Also, they would use some stone tools that were known to be the breaking dawn to human technology. Their main predators were big c ats such as lions and leopards. They had little to no protection which made them easy prey.Leopards were excellent climbers but they could not climb as well as apes which made it hard to escape. Also the lions are very patient creatures, so they would wait under the tree until they would could down and then they would eat them. Eventually, the robust A. afarensis, a. boisei, a. robustus and a. aeithiopicus would go extinct but the gracile Homo Habilis, which was sight 2. 6 million years ago by Lewis Leaky, would go on to become our ancestors. In Africa, some of the animals that relied on forest died out because it was too dry.For example, during this achievement Lucy had disappeared because this species cant survive in that situation. But other species evolved by exploring different dietary sources that were available in that time. For example, many evolved physical adaptations to graze on the new species of plant life called grass that colonized the deforested terrain. The same s eems to have happened to our ancestors, who had previously relied on forest foods such as soft fruit. We just kept evolving as the millions of years went by and adapting to new environments.In this essay, as you can see, Lucy was an astonishing discovery and was the missing link to our upbringing. This species was bipedal and hominid from the waste down, ape like from the waist up. They were also smarter than chimps with their different hand and motor cortex, their tool use, and brain size. Without the constant concept and knowledge of evolution occurring, our species would have never of came about but we are very fortunate for this discovery and to be who we are in this world today.

Competencies &amp Essay

1) Legal and regulatory factors The medical device industry is classified as class 3 , high risk implant so its obvious that a lot of investment goes into testing and experiments with sufficient evidences to prove its safety in-vivo. in that respect ar instances when a device fails and a single lawsuit ca ingestions the immaculate company to close down. Thus its advisable to invest time and money , sooner taking the implant out to the market 2) Investment of Time & Money As approval mold is a long dropn procedure, it is necessary to take hold well trained quality managers and regulatory system advisors as employees.Sometimes services of external consultants or Regulatory advising companies might be used. 3) In-house surgeons/medical practitioners As these devices cater to specific ailments and atomic number 18 highly specialized, it is important that we have in-house surgeons to understand the requirements of a mathematical product before we begin to design it. Infact the en gineers and the surgeons should work hand in hand to come up with a better product. The crucial factors which determines success in biomedical industry.1) Availability of constant flow of Funds For a freshly product to be in market, it might take 3-4 yrs, so during this period there should be a constant supply of funds to pay the employees and sustentation the company running. 2) Excellent marketing strategies Its important that these products are marketed through right channels, thus its highly imperative that the products are showcased at various trade shows/conferences 3) arrangement the regulatory process The main aim would be to bring the product soon to the market, by making a full-proof plan before the submission process for approval, as this phase is the lengthiest of all the processes.D. PEST ANALYSIS Scope of Growth The medical device industry out here thrives on reverse technology concept the result is a number of ME TOO products. Infact companies end up investing o n buying patents from European and American companies and do non guess in investing money for research and development of such products. There is huge market to be tapped as there is a lot of ask for these products most of which is imported from the Europe and the U. S. This area being the fastest reverseing market, the projected growth is expected to touch up to $16 billion in 2015 revenues.Source Millennium Research Group. Spine Care Segments 2015 There is expected to be an increase in surgical treatment options, like facet replenishment and dynamic stabilization procedures, which will likely be more acceptable to patients, perhaps doubling the % of patients accepting surgery from 3. 6% to 7% of a a lot larger, elderly population. As clinical results improve, this market is expected to continue to grow 20% per year and offer a tremendous opportunity to companies with innovative product lines.In 2015, industry experts project lumbar fusions will non grow, but stay at the sam e 2006 level of 400,000 procedures dynamic stabilization devices will grow from 25,000 to 250,000 cases and artificial lumbar and cervical discs grow from 25,000 to 600,000 cases, as these new procedures begin to replace spinal fusion. PART 2 A BUSINESS OWNERSHIP sole proprietorship is a one-person craft is registered with the state like a circumscribed liability company (LLC) or corporation. Legally, a sole proprietorship is internal from its possessor the business and the owner are one and the same.This means the owner of the business reports business income and losses on his or her personal tax save and is personally liable for any business-related obligations, such as debts or court judgments. This accounts 74% of all USA businesses and for 6% of all sales in USA. Advantages (1) decisions are made by only the owner (2) simple process to start just get a business license (3) profits belong to the owner (4) pride of will power (5) lower taxes. Disadvantages (1) unlimited liability (2) limited life of business (3) difficult to raise capital for business (4) risk of lost is not shared.Partnership a partnership is simply a business owned by two or more people Just like in a sole proprietorship, the partnerships owners pay taxes on their shares of the business income on their personal tax returns and they are each personally liable for the entire amount of any business debts and claims. 8% of all USA businesses are partnerships and accounts for 4% of all sales in USA Advantages (1) easy to start (2) not many regulations (3) not as difficult to raise capital for business (4) combination of noesis and skills.Disadvantages (1) unlimited liability (2) profits are shared (3) limited life of the business (4) disagreements Incorporation Though forming a corporation is a bit more complicated and costly, but it is well worth the trouble for both(prenominal) small businesses. The main benefit of an LLC or a corporation is that these structures limit the owners personal liability for business debts and court judgments against the business. What sets the corporation apart from all other types of businesses is that a corporation is an independent legal and tax entity, separate from the people who own, control and manage it.Because of this separate status, the owners of a corporation dont use their personal tax returns to pay tax on corporate profits the corporation itself pays these taxes. Owners pay personal income tax only on money they draw from the corporation in the form of salaries, bonuses, and the like. Corporations make sense for business owners who either (1) run a risk of being sued by customers or of piling up a lot of business debts, or (2) have substantial personal assets they want to protect from business creditors.18% of all USA businesses are corporations and accounts for 90% of all sales in USA. Advantages (1) easy to raise capital (2) limited liability (3) unlimited life of business (4) Can hire specialized skills and kn owledge (5) shared risks. Disadvantages (1) difficult to start (2) less direct control (3) double taxation corporate tax and individual tax (4) limited activity. Franchising Franchises are in which individual businessmen or people buy a well established business, but a certain percentage goes back to the corporation.Franchises must pose to the corporate regulations. (McDonalds, Krispy Cream, Starbucks). Acquisition/Mergers In this two companies merge together(merger) or a big company acquires a small innovative company giving emanation to an acquisition. The best option to go with would be setting up a corporation or a LLC rather to start. The limited liability company or LLC is a relatively new form of doing business which is now recognized in most states. The LLC has grown in popularity because it combines the best features of a corporation and a partnership.Like a corporation, the owners (called members) of the LLC are not personally responsible for the debts of the LLC. Like a partnership, there is no dual taxation and the earnings of the business are taxed directly to the members. The LLC is also preferable in many ways to the S corporation, which also avoids personal liability and dual taxation. The LLC is not subject to most of the limitations which are imposed on corporations by applicable law.For example, while an corporation is not allowed to have more than one type or class of stock ownership and is not allowed to have more than 75 shareholders, the LLC is not subject to such limitations. Overall, the LLC simply allows more flexibility in the structure, operation and management of the business than does the S corporation. LLCs are similar to corporations because they also provide limited personal liability for business debts and claims. But when it comes to taxes, LLCs are more like partnerships the owners of an LLC pay taxes on their shares of the business income on their personal tax returns.

Mary Shelley’s Frankenstein Valuable Knowledge

Education is generally regarded as a means of gaining valuable knowledge. However, it may actually be more destructive than constructive to others. This hazardous aspect of instruction is vividly shown in Mary Shelleys Frankenstein. Victor Frankensteins misfortunes start from the moment he discovers Cornelius object into life again. The creation of the demigod is result of his efforts. Little does he know the consequences of his creation and the responsibilities that follow.In Frankenstein, Shelley attempts to portray how Frankenteins dangerous commandment from books influences his strong ambition and causes him to ignore responsibilities afterwards. Frankenstein learns most of his knowledge from the books that he reads, but these are of the unusual kind. At the young age of thirteen, he is first exposed to the works of Cornelius Agrippa, Paracelsus, and Albertus Magnus who are ancient teachers of Chemistry (p. 40). He becomes sort of fascinated with his findings and begins hi s experiment on the basis of these books. If he had non stumbled across these books, he would not have created the daemon.It is too late when he realizes this he has already gone mad. For this he blames his father. When he had first discovered Agrippa, he had told his father, but he merely shunned the book. My dear Victor, do not waste your time upon this it is no-account trash (p. 30). If. . . my father had taken the pains to explain to me that the principles of Agrippa had been entirely exploded, and that a modern system of science had been introduced. . . I should have certainly have thrown Agrippa aside, and have contented my imagination. . . by returning with greater ardour to my former studies (p. 30).Had his father shielded him from the contents of Agrippas book as well the others, Frankenstein would not have fallen prey to the fateful education of such works. Frankensteins strong ambition also plays a role in throwing off his reasoning. He had first thought of the plan o f the creation when his mother died. The books he reads reinforces his thoughts. Since then, he obsesses with the thought that he could bestow animation upon lifeless matter (p. 48) and maybe horizontal renew life where death had apparently devoted the body to corruption (p. 48). His strong passion for knowledge alters his reasoning.The knowledge he learns and the resulting project are so immense that he soon forgets about his surroundings and the people around him. And the same feelings which made me neglect the scenes around me caused me also to forget those friends who were so numerous miles absent, and whom I had not seen for so long a time (p. 49). Frankensteins education isolates him from the real world rather than brings him closer to the people he loves. Unfortunately, Frankensteins education does not prepare him for the obligations involved in such a creation.Rather than teaching him the way of life, he abandons him. Unable to endure the aspect of the being I had creat ed, I rushed out of the room (p. 52). The daemon is left all alone and must fend for himself in this strange world. When Frankenstein refuses to create a fella for him, he is full rage and vows revenge by killing his lived ones. If he had known the responsibilities following his creation, he might not have created the daemon in the first place.Ironically, Frankensteins passion for the knowledge of giving life to an inanimate human suddenly turns into terror. The same education that interested him now frightens him and turns him mad. But I was in reality ery ill and surely nothing but the unbounded and unremitting attentions of my friend could have restored me to life (p. 56). Mary Shelley vividly shows how Frankensteins education is potentially dangerous.The knowledge he learns from certain books fatefully leads him away from the world, throwing off reasoning. He turns into a madman following his creation of the daemon. Many misfortunes result from him running game away from that same wisdom and ignoring the responsibilities regarding the daemon. The perilous education which he engages in causes his unbalanced and eccentric nature, and ultimately causes his downfall.

“Solution” Eurasia International: Total Quality Management in the Shipping Industry

CASE STUDY SOLUTION EURASIA INTERNATIONAL TOTAL QUALITY MANAGEMENT IN THE SHIPPING INDUSTRY schema This Case gives an account of how a ship management company was able to set itself apart from competitors and from its clients own in-house technical and crew-management capabilities by embracing a cultivation of continuous improvement and by implementing Total Quality Management systems. The shipping industry was not al nonpareil in having regulation imposed upon it, simply its clear world-wide nature made ship managers, as cost-cutting practitioners, particularly open to criticism.A ship management companys very existence hinged upon its ability to impel ship-owners that it would preserve their valuable assets and maximize revenue-earning potential demonstrating that its collective skills were superior and more cost-effective. As a result, an effective gauge assurance system that continuously alter the organizations human and business systems could enhance efficiency and wit hal have a significant marketing impact. ANALYSIS 1. With the changes taking place in the shipping industry, what were the ship-owners motivations for outsourcing vessel and crew management to third-party ship managers?With the rise in outsourcing arrangements, management structures have become more explicit. In the highly competitive international shipping industry, ship-owners were continually seeking ways to keep their costs down and their business performance ahead of the competition. As a result, ship-owners were taking a practiced look at the option of outsourcing crew and technical management functions as a way of lowering costs and keeping pace with industry stovepipe practices.By concentrating on the sales and marketing function, ship-owners could hive off operations activities to more suitable providers who were knowl demonstrateable about the regulatory climate and on the cutting edge of ship management (in terms of infrastructure, expertise and organizational capabilit ies). 2. How was Eurasia able to differentiate itself from the competition? Eurasia can be said to have taken a dress shop approach within its industry, and to have upheld a relentless commitment to serving its customers interests.Since it was inclined to remain a boutique, Eurasia was cautious about pursuing growth but was still willing to take risks in its company school of thought and business model. As a member of the Schulte Group of companies, it was able to offer the advantages of economies of scale, yet was also able to customize its service delivery to suit different customers needs. By contrast, many of its larger competitors had gone through mergers and acquisitions to remain economically viable, and thus risked losing their private touch with the customer.To offer even closer proximity to its clients, Eurasia embarked on a five-year plan to expand its operations, and established a network of regional offices that could operate in the same region and time zone as the cu stomer. 3. What is Total Quality Management (TQM), and why was it an appropriate organizational change mechanism for Eurasia? The term TQM was widely used to describe a focus on the pursuit of quality within an organization. Early discussions of TQM hinged around the Deming Management Method and statistical process get word techniques, particularly in connection with manufacturing environments.The works of later TQM experts such as Philip Crosby have been less statistically and technically oriented and more people-oriented. Regardless, TQM is built on core mandates to continually improve systems and processes, and to focus the people and resources of the organization to delivering customer value as ultimately, value exists only in the eyes of the customer. Broadly speaking, the TQM philosophy is founded on several conceptual principles * A definition of quality in terms of meeting the customers requirements.Anyone producing work output may be considered a supplier, while any part y receiving work inputs constitutes a customer. The customer relationship is held in esteem and a suppliers indebtedness is to encounter and meet the customers requirements. * Quality is achieved by undertaking the right action the first and every time. * The organization requires a proactive approach to check up on that quality is achieved, thus a system of prevention must be coupled with a reactive system of inspection. * Quality must be continually measured a measurement framework can determine whether organizational resources are being deployed optimally.Eurasias President, Rajaish Bajpaee, recognized that a changing regulatory climate, the world(prenominal) dispersal of his industry and intensifying competition among ship managers meant a robust quality assurance system was needed to keep his organization focused on customer value. With complicating factors on so many fronts the global distribution of labor, variety in the types of vessels under management, maritime regula tions, procurement and logistics, risk and liability encouraging cross-functional coaction would increase the flow of information, improve problem-solving capabilities and enhance customer focus.The very process of developing such a framework could offer invaluable insights into the organizations strengths, weaknesses and position within the industry. Moreover, an efficient quality assurance system could be the ship managers best defence against criticism, forced compliance and over-regulation. about new regulation came about as a reaction to perceived deficiencies by taking a proactive stance, ship managers could endorse appropriate regulations or else than waiting for legislation to be mandated. 4.How was managements commitment crucial to the success of Eurasias TQM effort? This is a tremendous human resource take exception to ensure that people have a certain set of values, because it is the values which mould perceptions and perceptions mould attitudes. Attitudes mould beha viour behaviour moulds actions and actions mould results. So if we fatality consistencya predictable result, then we have to start from the bottom of the chain that is the values, and if we can get the values right in each one of our floating factorys staff, then we can expect a predictable result. Rajaish Bajpaee, President & Group Managing Director, Eurasia International) A lack of management occasion is often cited as one of the leading reasons why TQM efforts fail. Management must do more than simply instruct the rest of the placement to implement quality control mechanisms. The amount of time a senior manager dedicates to quality issues is readily observed by employees and reflects the organisations actual priorities.As Eurasias President, Rajaish Bajpaee was tasked with the responsibility of adding value to key constituencies, and he held the firm belief that customers ultimately determined the organisations fate. In leading Eurasias TQM effort, Bajpaee was intimately i nvolved in defining the need for change and developing new visions and the frameworks needed to mobilise commitment. Leadership entails the ability to articulate those visions and oversee the process of evolution through which the organisation learns new ways and methods.

Night World : The Chosen Chapter 14

The first person Rashel met in the mansion was Ivan.It was sheer dumb luck, the kindred luck that had helped keep her awake(p) so far tonight. She slipped in the lynchpin door, the way she and the girls had g mavin out. Standing in the huge silent kitchen, she listened for aninstant to the music that was still blasting from the intimate house. therefore she swiveled to check the cellar-and met Ivan the Terrible running up the stairs.He had clearly just discovered that his twenty-four valuable slave girls were missing. His blond hair wasflying, his eye were wide with alarm, his mouth was twisted. He had the taser in star hand and a bunchof plastic handcuffs-the kind police use on rioters-in the other.When Rashel utterly appeared on the stairway, his eyes flew open veritable(a) wider. His mouth opened in astonishment-and then(prenominal) Rashels foot impacted withhis forehead. The snap kick knocked him backward, and he tumbled down the stairs to strickle the wooden door below.R ashel leaped after him, making it to the bottom only a second after he did. entirely he was already out.What are these? Were you hypothetic to take some girls up? She kicked at the plastic handcuffs. Ivanthe Unconscious didnt answer.She glanced at her watch. Only a quarter to nine. Maybe hed been taking the girls to contain washed orsomething. It butt againstmed too early to start the feast.Running noiselessly back up the stairs, she quietly closed the door. Now she had to follow the music.She needed to run through where the vampires were, how they were situated, how she could best become at them.She wondered where Lily was.The kitchen opened into a grand dining room with an enormous built-in sideboard. It had doubtlessbeen made to accommodate whole suckling pigs or something, besides Rashel had a dreadful vision of a girllying on that c killin wish mahog alto take a shither shelf, hands tied behind her, while vampire after vampire stopped by tohave a snack.She pushed the id ea out of her thinker and moved silently across the floorboards.The dining room led to a hall, and it was from the end of the hallway that music was coming. Rashelslipped into the dimly lit hall same a shadow,moving closer and closer to the doors there. The last door was the only one that showed light. That one,she imagination. beforehand she could get near it, a figure blocked the light. Instantly Rashel darted through the nearestdoorway.She held her breath, standing in the Cimmerianened room, watching the hall. If only one or two vampires cameout, she could pick them off.But no personate came out and she realized it must have just been person passing in front of the light. At thesame moment she realized that the music was very loud.This wasnt another room-it was the same room. She was in one gigantic double parlor, with a hugewooden screen break it up into two separate spaces. The screen was solid, hardly carved into a lacypattern that let flickering light through.Rashel t hrust her knife in her waistband, then crept to the screen and applied her eye.A spacious room, very masculine, paneled like the dining room in mahog both and floored in ruby-redparquet. Glass brick windows-opaque. All Rashels worry about somebody beliefing out had been fornothing. A fire burned in a massive fireplace, the light bring out the ruddy tones in the wood. Thewhole room looked red and secret.And there they were. The vampires for the bloodfeast. Seven of the most powerful made vampires in theworld, Fayth had said. Rashel counted heads swiftly. Yes, seven. No Lily.You boys dont look that scary, she murmured.That was one thing about made vampires. Unlike the lamia, who could stop aging-or start againwhen foreverthey treasured, made vampires were stuck. And since the process of turning a human body into avampire body was incredibly difficult, only a young human could survive it. Try to turn somebody over twenty into a vampire and they would burn out. Fry. Die.The case wa s that all made vampires were stuck as teenagers.What Rashel was looking at could have been the cast for some new TV soap about friends. Seventeenage guys, dissimilar sizes, different colors, but all Hollywood handsome, and all dressed to kill. Theycould have been talking and laughing about a fishing trip or a school dance except for their eyes.That was what gave them away, Rashel thought. The eyes showed a depth no high school guy couldever have. An experience, an intelligence and a coldness.Some of these teenagers were undoubtedly hundreds of years old, maybe thousands. All of them wereabsolutely deadly.Or else they wouldnt be here. They each expected to kill three innocent girls starting at midnight.These thoughts flashed through Rashels mind in a matter of seconds. She had already decided on thebest way to plunge into the room and start the attack. But one thing unbroken her from doing it.There were only seven vampires. And the eighth was the one she wanted. The client. The on e whodhired Quinn and set up the feast.Maybe it was one of these. Maybe that tall one with the gamy discase and the look of authority. Or thesilvery blond with the odd smile.No. Nobody really looks like a host. I think its the one whos still missing.But maybe she couldnt afford to wait. They might hear the powerboats leaving over the steady poundingof the music. Maybe she should justSomething grabbed her from behind.This time she had no warning. And she wasnt strike anymore. Her opinion of herself as a warriorhad plummeted.She intended to fight, though. She went limp to loosen the grip, then reached between her own legs tograb her attackers ankle. A jerk up would throw him off balance.Dont do it. I dont want to have to stun you, but I will.Quinn.She recognized the mental voice, and the hand clamped across her mouth. And both the telepathy andthe skin contact were having an effect on her.It wasnt like before no lightning bolts, no explosions. But she was overwhelmed with a sense o f Quinn.She seemed to feel his mind-and the feeling was one of drowning in racy chaos. A storm that seemedjust as likely to kill Quinn as anyone else.He lifted her cleanly and backed out of the room with her, into the hall, then up a flight of stairs. Rashel didnt fight. She tried to clear her head and wait for an opportunity.By the time hed pulled her into an upstairs room and shut the door, she realized that there wasnt exhalationto be an opportunity.He was just too strong, and he could stun her telepathically the instant she moved to get away. Thetables had turned. There was nothing to do now but hope that she could award death as calmly as he had.At least, she thought, it would put a stop to her confusion.He let go of her and she slowly turned to look at him.What she saw sent chills between her shoulder blades. His eyes were as dark and chaotic as the cloudsshed sensed in his mind. It was scarier than the cold hunger shed seen in the eyes of the seven guysdownstairs.Then he s miled.A smile that shed rainbows. Rashel pressed her back against the wall and tried to brace herself.Give me the knife.She simply looked at him. He pulled it out of her waistband and tossed it on the bed.I dont like being knocked out, he said. I dont know why, but something about it really bothers me.Quinn, just get it over with.And it took me a while to get myself untied.Every time I meet you, I seem to end up hog-tied and unconscious. Its getting monotonous.Quinn youre a vampire. Im a vampire hunter. Do what you have to.Were also always threatening each other. Have you noticed that? Of course, everything we keepsaying is true. It is kill or be killed. And youve killed a lot of my people, Rashel the Cat.And youve killed a lot of mine, John Quinn.He glanced away, looking into a middle distance. His pupils were enormous. Less than you might think,actually. I dont usually kill to feed. But, yes, Ive done enough. I said before, I know what you think ofme.Rashel said nothing. She was f rightened and confused and had been under strain for quite a long time.She felt that at any moment she could snap.We belong to two different races, races that hate each other. Theres no way to get around that. Heturned his dark eyes back on her and gave her a brilliant smile. Unless, of course, we change it.What are you talking about?Im liberation to shop you a vampire. Something inside Rashel seemed to give way and fall. She felt as if her legs might collapse.He couldnt mean it, he couldnt be weighty. But he was. She could tell. There was a kind of surfaceserenity pasted over the dark roiling clouds in his eyes.So this was how hed solved an unsolvable problem. He had snapped.Rashel whispered, You know you cant do that.I know I can do that. Its very simple, actually- all we have to do is exchange blood. And its the only way. He took hold of her fortification just above the elbow. Dont you understand? As long as youre human,Night public law says you have to die if I love you.Ras hel stood stricken.Quinn had stopped short, as if he were startled himself by what hed said. Then he gave an odd laughand move his head. If I love you, he repeated. And thats the problem, of course. I do love you.Rashel leaned against the wall for support. She couldnt think anymore. She couldnt even breatheproperly. And somewhere deep inside her there was a trembling that wouldnt stop.Ive loved you from that first night, Rashel the Cat. I didnt want to admit it, but it was true. He was stillgripping her tightly by the arms, leaning close to her, but his eyes were distant, lost in the past.Id never met a human like you, he said softly, as if remembering. You were strong, you werent weakand pathetic. You werent looking for your own destruction. But you were red to let me go. Strengthand compassion. And honor. Of course I loved you. His dark eyes focused again. He looked at hersharply. Id have been crazy not to.Falling into tail Rashel had a terrifying desire to simply collapse in h is arms. Give in. He was sostrangely beautiful, and the power of his personality was overwhelming.And of course she loved him, too.That was suddenly excruciatingly clear. Undeniable. From the beginning he had struck a chord in her thatno one else had ever touched. He was so much like her-a hunter, a fighter. But he had honor, too.However he might try to deny it or get around it, deep inside him there was still honor.And like her, he knew the dark side of life, the pain, the violence. They had both seen-and done-thingsthat normal people wouldnt understand.She was supposed to hate him but from the beginning shed seen herself in him. She had felt thebond, the connection between them.Rashel shake her head. No She had to stop thinking these things. She would not surrender to thedarkness.You cant stop me, you know, Quinn said softly. That ought to make things easier for you. You donteven have to make a decision. Its all my fault. Im very, very bad, and Im going to make you a vampire. Some how that gave Rashel her voice back. How can you do that-to someone you love? she spat.Because I dont want you dead Because as long as youre human, youre going to get yourself killedHe put his face close to hers, their foreheads almost touching. I will not let you kill yourself, he saidthrough his teeth.If you make me a vampire, I will kill myself, Rashel said.Her mind had cleared. However much she wanted to give in, however enticing the darkness might be, itall disappeared when she thought of how it would end. She would be a vampire. Shed be driven bybloodlust to do things that would horrify her right now. And shed undoubtedly find excuses for doingthem. She would become a monster.Quinn was looking shaken. Shed scared him, she could see it in his eyes.Youll feel differently once its done, he said.No. Listen to me, Quinn. She kept her eyes on his, looking deep, trying to let him see the loyalty of whatshe was saying. If you make me a vampire, the moment I wake up Ill stab myself w ith my own knife.Do you think Im not merry enough?Youre too brave thats your problem. He was faltering. The surface serenity was breaking up. Butthat wasnt really helpful, Rashel realized, because underneath it was an agony of desperate confusion.Quinn really couldnt see any other solution. Rashel couldnt see any herself-except that she didnt reallyexpect to survive tonight.Quinns face hardened, and she could see him pushing away doubts. Youll get used to it, he saidharshly, his voice grating. Youll see. Lets start now, he added.And then he bit her.He was so fast. Unbelievably fast. He caught her jaw and tilted her head back and to the side-notroughly but with an irresistible control and precision. Then before Rashel had time to scream, she felt ahot sting. She felt teeth, vampire teeth, extended to an impossible delicacy and sharpness, pierce herflesh.This is it. This is death.Panic flooded her. But it wasnt death, of course-not yet. She wouldnt even be changed into a vampireby a single exchange of blood. No, instead it would be slow torture days of agony pain.She kept waiting for the pain.Instead she felt a strange warmth and languor. Was he actually drinking her blood? All she could sensewas Quinns mouth nuzzling at her neck, his arms around her tightly. AndHis mind.It happened all at once. In a sudden silent explosion, white light engulfed her. It burst around her. Shewas floating in it. Quinn was floating in it. It was shining around them and through them, and she could feel a connection with Quinn that made their last connection seem like a faulty telephone line.She knew him. She could see him, his soul, whatever you wanted to call it, whatever it was that madehim John Quinn. They seemed to be floating together in some other space, in a unsanded white light thatrevealed everything and mercilessly lit up all the most secret places.And if anyone had assumeed her, Rashel would have said that would be horrible, and she would have runfor her life to get aw ay from it.But it wasnt horrible. She could see dreadful dark bits in Quinns mind, and dreadful dark bits in hers.Tangled, thorny, scary parts, full of anger and hate. But there were so many other parts-some of themalmost unused-that were beautiful and strong and whole. There was so much potential. Rainbow placesthat were aching to grow. Other parts that seemed to quiver with light, desperate to be awakened.We ask so little of ourselves, Rashel thought in wonder. If everybodys like this-we stunt ourselves sobadly. We could be so much more.I dont want you to be more. You re amazing enough the way you are.It was Quinn. Not even his voice, just-Quinn. His thoughts. And Rashel knew her thoughts flowed tohim without her even making an effort.You know what I mean. Isnt this strange? Does this always happen with vampires?Nothing like this has ever happened to me in my life, Quinn said.What he felt was even more, and Rashel could sense it directly, in a dizzying sweet wave. There was anunde rstanding between them that ran deeper than any words could convey.Whatever was occurrent to them, however they had gotten to this place, one thing was obvious. Underthe white light that revealed their inner selves, it was clear that small differences like beingvampire or human didnt matter. They were both just people. John Quinn and Rashel Jordan. Peoplewho were stumbling through life trying to deal with the hurt.Because there was hurt. There was pain in the landscape of Quinns mind. Rashel sensed it withoutwords or even images she could feel the feelings that had scarred Quinn.Your father did something-he killed Dove? Oh, John. Oh, John, Im so sorry. I didnt know.Rainbow lights shimmered when she called him John. It was the part of him that he had repressed themost ruthlessly. The part that she could almost feel growing in her presence.No wonder you hated humans. After everything youd ken through, to have your own father want youdeadAnd no wonder you hated vampires. They killed someone dose to you-your mother? And you were soyoung. Im sorry. He wasnt as easy with words as she was, but here they didnt need words. Shecould sense his sorrow, his shame, and his fierce protectiveness. And she could sense the emotion behindhis next question. Who did it? I dont know. Ill probably never know. Rashel didnt want to pursue it. She didnt want to feed the darkside of Quinn she wanted to see more of the shimmering light. She wanted to make the light grow untilthe dark disappeared.Rashel, that may not be possible. Quinns thought wasnt bitter it was serious and gentle. Tinged withinfinite regret. I may not be able to become anything better-Of course you can. We all can. Rashel cut him off with absolute determination. She could feel thebone-deep cold that had set into him years ago, that hed allowed to set in. I wont let you be cold, shetold him, and she went for a romp in his mind, kissing things and blowing warmth into them, thinkingsunlight and comfort everywhere.Pleas e stop I think youre killing me. Quinns thought was shaky-half serious and half hysterical, like thehelpless gasp of somebody being tickled to death.Rashels whole being was singing with elation. She was young-how strange that she had never really feltyoung until now-and she was in love and stronger than she had ever been before. She had John Quinnthe vampire squirming and semi-hysterical. She was unstoppable. Anything was possible.Ill make everything be right, she told Quinn, and she was happy to see that shed driven his doubt andhis sadness away, at least for the moment. Do you really want me to stop?No. Quinn sounded dazed now-and bemused. Ive decided Ill enjoy dying this way. ButRashel couldnt follow the rest of his thought, but she felt a new coldness, something like a wind from outside.Outside.Shed forgotten there was an outside. In here, in the private cocoon of their minds, there was nothing buther and Quinn. It was almost as if nothing else existed.ButThere was a whole world out there. Other people. Things happening. Things Rashel had to stop.Oh, God, Quinn-the vampires.

Gun Laws Essay

The s Amendment in the United States Constitution gives people the right to keep and bear arms. The Second Amendment has been interpreted in many ways, and its limitations and what it controls drop been questioned. The question that arises over and over again is that ordain stricter gun laws make the United States safer or more perilous. The answer is clear. With lack of gun control and that morose market guns are at almost every street corner whether you think it or not. Guns are a very dangerous weapons, and the United States has to draw stricter laws in order to operate and obtain them in order to protect the public.Stricter gun laws would improve the criminal justice system. For example, a national registry which contained riffle printing and gun information would allow for the bullets at a crime scene to be traced back to the owner. The only way to get guns off the streets is for disposal to take action and for laws to be put down. The goal for stricter gun laws is simple . It is to make it harder for dangerous people to get their hands on guns, improving the safety of guns, and modulate the sales of guns at gun shows and on the streets.The debate over gun control has continued for many years. In 1939 there was an important case, United States vs. Miller, which dealt with the Second Amendment. In this case the supreme court was asked to decide whether or not the Second Amendment protected Millers right to not register a sawed off shotgun. A sawed off shotgun is a shotgun with a shorter barrel therefore it shoots away less accurately but more library paste out with the same power as a regular shotgun. They are very dangerous especially in smaller places. During that time the Supreme motor inn believed that the Second Amendment protected those who had weapons for military use only. As a result the Supreme Court ruled that the Second Amendment did not protect Millers right to own a sawed off shotgun because he did not have it for military purposes.G un control opponents deny that federal policies keep firearms out of the hands of high-risk persons rather, they argue, controls often create burdens for law- abiding citizens and infringe upon constitutional rights provided by the Second Amendment. Some argue further that widespread gun self-will is one of the best deterrents to crime as well as to potential tyranny, whether by gangs or by government. They may also criticize the notion of enhancing federal, as opposed to state, police powers.So what these gun lovers want to do is defend their homes from those they feel threaten them and use guns for protection. The NRA also says over and over again that it will cost tax payers millions if the number of gun sales drop. Is there really a price for saving lives?

Applying the VRIO Framework Essay

1Barney and Hesterly (2006), describe the VRIO framework as a good tool to examine the internal environment of a stiff. They state that VRIO stands for four questions angiotensin converting enzyme must ask about a resource or capability to determine its competitive potential1. The Question of Value Does a resource alter a sozzled to bring an environmental opportunity, and/or neutralize an environmental threat? 2. The Question of Rarity Is a resource currently controlled by that a small number of competing firms? are the resources used to make the products/services or the products/services themselves rare? 3. The Question of Imitability do firms without a resource face a cost dis avail in obtaining or developing it? is what a firm is doing difficult to imitate? 4. The Question of Organization Are a firms other policies and procedures organized to support the exploitation of its valuable, rare, and costly-to-imitate resources?What types of resources should we evaluate (e.g., what types of resources lead to a competitive advantage)? 1) tangible resources, 2) intangible resources, 3) organizational capabilities. personality with nodes for quality and reliabilityReputation with suppliers for fairness, non-zero-sum relationships Organizational CapabilitiesFirm competences or skills the firm employs to transfer inputs to outputs Capacity to combine tangible and intangible resources, using firm processes to attain desired end. ExamplesOutstanding customer serviceExcellent product development capabilitiesInnovativeness or products and servicesAbility to hire, motivate, and retain human capitalApplying the VRIO framework. According to the VRIO framework, a supportive answer to separately questions relative to the firm being analyzed would indicate that the firm can sustain a competitive advantage. Below is an example of how to apply the VRIO framework and the liable(predicate) outcome for the firm under varying circumstances.Applying the VRIO Frameworkthe value and rarity of a firms resources If a firms resources areThe firm can expectNot valuableCompetitive DisadvantageValuable, hardly not rareCompetitive parity (equality)Valuable and rareCompetitive advantage (At least temporarily)Then, if there are high costs of imitation, the firm may enjoy a period of sustained competitive advantage. Costs of imitation amplify due to some combination of the following 1) Unique Historical Conditions (path dependence first mover advantages), 2) Causal Ambiguity (links between resources and advantage foggy), 3) Social complexity (social relationships not replicable), 4) Patents (double-edged sword since period of protection eventually runs out).Applying the VRIO Framework, integrating the notion of Inimitability If a firms resources areThe firm can expectValuable, rare, but not costly to imitateTemporary competitive advantageValuable, rare, and costly to imitateSustained competitive advantage (if organized properly)Organized properly deals with the fi rms structure and control (governance mechanismscompensation, reporting structures, management controls, relationships, etc).These must be aligned so as to give people ability and incentive to exploit the firms resources.Summary of VRIO, Competitive Implications, and Economic Implications Valuable?

Public Policy and Section Assessment

Chapter 9 subdivision 1 p. 240 Section Assessment 1-4 1. What is a reality insurance? A public form _or_ system of government is a goal a government creates and accomplishes them. 2. List and describe the three main ideas in which semipolitical parties and involvement groups differ. Political parties focus on nominations, on their goals and on their c bes. Interest groups may favor a displacedidate, hardly the political party is in charge of the nominations. The political party is more concerned ab unwrap the soulfulness who will be in charge of the government rather than the policies the government will create. . (a) How do interest groups stimulate interest in public affairs? They promote policies they favor and oppose those they fear as threats to their concerns. (b) Name at least three additional functions of interest groups. They unite with other people roughly the country to promote their concern. They provide detailed information to the government to address their con cerns. They act as check-and-balances for the political process. 4. On what bases are interest groups often criticized? Some interest schools do non represent every last(predicate) the views they claim to speak.They can also use tactics to undermine the political system. They may also not represent all the people they claim to represent. Chapter 9 Section 2 p. 247 Section Assessment 2-4 2. (a) What are the four major(ip) types of economically based interest groups? Business, Labor, Agricultural, and Professional (b) List an example of a major type. A major type of organization is the American Medical Association, which focuses on the concerns of doctors. (c) How does a trade fellowship differ from a labor union?A trade association is an interest group for business, patch labor unions are interest group for workers that work in the same industry. Chapter 9 Section 3 p. 254 Section Assessment 1-4, & p. 257 1. For what three reasons do interest groups reach out to the public? They reach out to the public to share information that is necessary for the people to know. Also, they reach out to the public to impose a positive image on their interest group. Finally, they do so to encourage a public policy to be passed. 2. (a) Why do interest groups use propaganda?They use propaganda to exercise the behavior and belief of people. (b) pick up at least three major propaganda techniques. They use bandwagon, which is when people are encouraged to take an movement because everyone else is doing so. The plain-folks approach is where people must follow an action because it pretends to be one of the common people. Finally, the name-calling is where the opposing policy by calling negative nicknames to them to allure the views of people towards them. 3. (a) Why do interest groups try to influence political parties?Interest groups influence political parties in order to gain support for the passing of their public policies when the candidate of a political party holds offi ce in the government. (b) What is a single-interest group? This group focuses on one particular issue and creates public policies concerning it. 4. How is lobbying used to influence public policy? Lobbying is used to influence public policy by pressuring legislators to bear aspects of the public policy-making process. Analyzing Political Cartoons 28 & 29 28. (a) What does the construction in the cartoon represent?The building represent the government and the public policies made for the people. (b) What is the source of the haggle on the building? All the citizens of the United States have the right to represent themselves in the government. 29. What is the cartoon aspect about the influence of special-interest groups on the political process? Interest groups have a great sham on the governments public policies. Only those who are great in numbers can cause an influence in the government. Individuals must form into interest-groups in order to have a vox in the government.

Determination of the amount of dissolved oxygen Essay

Topic Determination of the step of dissolved oxygen in a urine consume by iodometry-the winklers method.Objective To project the cadence of dissolved oxygen in a urine sample by iodometry- the winklers method. weapon volumetric pipette, 3 conical flaskful, burette, burette clamp, Pasteur pipette, reagent bottle, conical flask stopper, retord stand, white tile Materials 2 ml manganese sulphate source, 2 ml alkaline- iodin solution, 0.025M sodium thiosulphate solution, 2ml concentration sulphuric acid, amylum solution action1. When sampling water system, care must be interpreted to ensure that a good representative sample of the water to be analyzed is obtained. For most purposes, this includes attention to dissolved gases. Therefore, the water sample should be taken in a clean bottle which must be filled to spill outing and tightly fuddled with stopper without introduction of air. If the water is sampled from a tap, it must be allowed to run for at least 5 minutes prior to sampling. For this purpose, you may collect the water into a 1 L reagent bottle fitted with a stopper. 2. The stopper is removed carefully from the conical flask and 2 mL of the manganese sulfate solution is added, discharging the reagent from the tip of a pipette put strong below the water surface. Stopper is replaced.3. Similarly, 2 mL of the alkaline-iodide solution is introduced. 4. The stopper is placed in the bottle, be sure that no air becomes entrapped. Some overflow may occur. The content is mixed thoroughly by inversion and rotation. Manganese hydroxide is precipitated and will colonized on standing. 5. When the precipitate has settled, 2 mL of concentrated sulfuric acid is introduced with the tip of the pipette well below the surface of the solution. 6. The stopper is replaced and mixed until the precipitate dissolves completely. The dissolved oxygen now liberates free iodine from the potassium iodide present. 7. Pipette 200 mL of the acidified sample into a 500 mL coni cal flask and titrate with 0.025 M sodium thiosulphate until the solution becomes pale yellow. 8. Add a few drops of starch indicant and continue the titration to the disappearance of blue color.(If the blue color doesnt appear after adding starch, repeat the titration and adding starch before start of titration)9. Repeat the titration twice.Treatment of dataTitration number 1 2 3 last volume (cm3) 18.0025.5018.50Initial volume (cm3) 10.0018.0025.50Volume used (cm3) 8.007.507.00Average volume of titrant required for titration = 7.50 cm3 Calculation submerging (ppm) of dissolved oxygen in the water sample. Mol of S2O3 2- used=0.0001875molMol of S2O3 2- =0.000046875molMass of O2=0.0000468752(15.999)=1.4999mg1000ml of tap water=7.5mg O2Concentration of DO in water sample=7.3mg/LDiscussionThe Winkler test is used to learn the concentration of dissolved oxygen in water samples. Dissolved oxygen (D.O.) is widely used in water quality studies and routine operation of water reclamation f acilities. An excess of manganese (II) salt, iodide (I) and hydroxide (OH) ions is added to a water sample causing a white precipitate of Mn(OH)2 to form. This precipitate is then oxidized by the dissolved oxygen in the water sample into a brown manganese precipitate. In the adjacent step, a strong acid is added to acidify the solution. The brown precipitate then converts the iodide ion (I) to iodine. The amount of dissolved oxygen is directly proportional to the titration of iodine with a thiosulfate solution. Iodemetry reacts directly, fast and quantitively with many organic and inorganic substances.Because of its relatively low, pH independent redox potential and reversibility of the iodide/iodine reaction, iodometry can be used both to determine amount of reducing agents and of oxidizing agent. In my first titration, initial reading is 10.00 and terminal reading is 18.00. The titrants used is 8.00. In my stake titration, initial reading is18.00 and final reading is 25.50. The titrants used is 7.50. In my third titration, my initial reading is25.50 and my final reading is 18.50. The titrant used is7.00. Adequate dissolved oxygen is necessary for good water quality.Oxygen is a necessary element to all forms of life. Natural stream purification processes require adequate oxygen aim in order to provide for aerobic life form. As dissolved oxygen levels in water drop below 5.0mg/L, aquatic life is put under stress. The lower the concentration, the greater the stress. Oxygen levels that abide below 1-2mg/L for a few hours can result in large fish kills. be dissolved gas concentration in water should not exceed 110 percent. Concentration to a higher place this levels can be harmful to aquatic life. Conclusion The concentration of DO in tap water is 7.5ppm.

Non Performing Assets

1. a. EXECUTIVE SUMMARY The regurgitate is en coro concludinged A convey on The Management of Non-Performing Assets in the Canara shores Loan Portfolio is through at the Canara intrust, Donimalai Township, Sandur (TQ), Bellary (Dist), Karnataka State. INTRODUCTION An economical m geniustary homosexualagement is becoming inevitable for every handler in todays corporate world. From a traditional aspect of raising coin whenever needed the richness has shifted to day to day financial decision making and problem solving.When initially the stress was on the inwrought abbreviation of the firm, procurement of funds, management of pluss and allocation of bully, the mystify greatness has shifted to decision making within the firm. With the red-brick aspect of finance determination the responsibilities of the finance manager has besides increased. In the dish out of making facultative decision, he reserves use of sealed analytical tools in the analysis, planning and contr ol activities of the firm. Financial analysis is an essential prerequisite for making sound financial decisions.This trace is intended to probe into the management of non playacting summations in the Canara buzzwords Loan Portfolio, for the tip of 2002-2003 to 2005-2006. The schooling is completely ground on the analysis and translation of the create scotchs of the blaspheme and in the flesh(predicate) interview of the senior stumbleicials of the affirm. OBJECTIVES OF THE field ? To pass judgment the Canara margins addition forest. ? To identify the achievementiveness of the lay on the line management outline, beneathtaken by the intrust. SCOPE OF THE STUDY ? The scope of the study hither was confined to the organization totally. ? The study coers to find out the strategy mandatory to reduce the NPAs.METHODOLOGY OF THE STUDY ? primal selective information. ? thirdhand info. DATA ANALYSIS AND INTERPRETATION When the selective information collected is comp leted the data is processed and the germane(predicate) information is obtained. The data collected is disassembled using different statistical tools standardised frequency distri only ifion, charts and theatrical role analysis. DURATION OF THE STUDY This study is intended to probe into the management of non performing assets in the Canara bounds Loan Portfolio, for the accomplishment of 2003-2004 to 2005-2006. FINDINGS ? The Net NPA ratio of the Canara Bank declined from 1. 88% as at expose thirty-first 2005 to 1. 12% as at March 31st 2006. Canara Bank has recovered its NPA which is essenceed to Rs. 865 crore during 2005-2006. ? The Net NPA of the Canara Bank declined from Rs. 1454 crore as on 31st March 2006. ? The Net NPA portionage of Canara Bank has reduced by over 19% during 2005-2006. RECOMMENDATIONS ? Canara Bank should c erstwhilentrate more than on assurance appraisal, monitoring, creed risk management and recoveries. ? Settlement is a better option for the b lasphemes wrestling with the problem of non-performing assets. ? honorable mention scoring allows lenders to determine whether or non you jibe the indite of the type of customers they ar looking for. Banks concerned should continuously monitor lendwords to identify accounts that ask capableness to mend up non-performing. CONCLUSION ? Securitization venture impart surely function banks in reduction of NPA to a enceinte extent. ? Pr veritable(a)ting fresh flow of NPAs to a great extent. ? Exchange of mention information among banks would be of immense help to avoid possible NPAs. 1. b. GENERAL INTRODUCTION INDUSTRY PROFILE Banking in one form or a nonher was in existence even in ancient times. The writings of Manu (the maker of old Hindoo Law) and Kautilya (the Minister of Chandragupta Maurya) contained references to banking. merely, banking as a kind of business organization i. e. , modern banking is of recent origin. It came into existence only afterwards the indu strial revolution. After the industrial revolution, with the increase in the size of industrial and business units, joint stockpile comp whatever people with small means to stick shareholders of big industrial and business enterprises. Still, at that place were certain sections of public who were not prepared to invest their currency on the shares of joint stock companies. However they were willing to part with a little surplus specie, if they were assured of the repayment of their money with a little by-line thereon.So naturally, there arose the need for formation of financial exhibitments that could collect the surplus funds of people on toll acceptable to them and make them available to the needy for productive mapping. Accordingly a large function of financial institutions called joint stock banks were set up after industrial revolution. As much(prenominal) joint banks or modern banks are of recent development. MEANING OF confideS A banking comp both in India ha s been defined in the Banking Companies Act 1949 as One which transacts the business of banking which means the accepting of he purpose of sending or enthronisation of bonds of money form the public repayable on demand or otherwise and withdrawable by hinderance, tipple parliamentary procedure or otherwise. STRUCTURE OF argotING schema IN INDIA Indian Banking System has been categories into two 1. schedule Banks. i. State Co-operative. ii. Commercial Banks. 2. Non-Scheduled Banks Central Co-operative Banks and primary winding Credit Societies. Commercial Banks. Commercial Banks are further change integrity into Indian Banks and Foreign Banks. Indian Banks are further divided into 1. Public Sector Banks. 2. SBI and its Subsidies. 3. Other Nationalized Banks. 4. regional Rural Banks.ACTIVITIES OF banking comp anyS I. Activities of Commercial Banks. II. Activities of Central Banks. I. Activities of Commercial Banks The activities undertaken by commercial banks be subdivided i nto a. Primary Functions. b. hyponym Functions. a. Primary Functions i. Acceptance of deposits It is very important for banks as it forms the basis of all other activities of banks. It accepts various types of deposits. They are flowing deposit, saving deposit, bushel deposit and recurring deposits. ii. impart of Funds It is to a fault the most important function of Commercial Banks as it f etceteraes the study portions of the income of the banks.Banks lend money by the musical mode of addwords, overdrafts, cash realisation rating and discounting of bills. b. Subsidiary Functions i. Agency Functions The services rendered by banks as agent of their customers are called agency services. They are Banks collect cheque, bank draft, bills, fill, dividends etc on be half of the customer. Banks give forwards and purchases securities on behalf of the customers. Banks arranges for remittance of funds from one place to another place. Banks acts as trustees, executors, represen tatives of their customers. ii.General Utility work Services rendered by banks to their customers as well as the public public are called as general measure out services. Banks accept precious articles, documents etc for safe custody. Banks helps exporters and importers in foreign trade. Banks issue travellers cheque, letter of credit, circular notes etc. Banks acts as a reference and supply information slightly the financial standing of the customers to others. II. Activities of the Central Bank A. Monopoly of Note issue. B. Banker, Agent, Advisor to the governing. C. Custodian of cash reserves of the banks. D. Lender of the last resort.FUNCTIONS AND IMPORTANCES OF BANKS The importance of banks in the modern rescue bottomnot be denied. Banks play a signifi grasst role in the stinting development. Banks perform a number of functions. They are 1. Banks mobilize the small scattered and ideal savings of the people, and make them available for productive purpose. In the sort , they aid the process of majuscule formation. 2. By accepting the savings of the people, banks will safety and security to the surplus money of the depositors. 3. Banks provide a convenient and economical method of payment. The cheque system introduced by banks is convenient form making payments.Again the use of cheque economies the time and trouble tough in closure of business obligations. 4. Banks provide a convenient and economical means of transfer of funds from one place to another. Banks drafts are commonly utilise for remittances of funds from one place to another. 5. Banks helps the movement of majuscule from regions where it is no very useful to regions where it stooge be more use amply employed, by moving funds, banks increases the utility of funds. Again by moving funds from one place to another, banks contribute to the economic development of rearwards regions. 6.Banks influence the rates of arouse in the money markets. Through the supply of money (i. e. bank m oney or bank deposits) banks expert a powerful influence on the sideline rates in the money market. 7. Banks help trade and commerce patience and agriculture by relateing their financial requirements. tho for the financial assistance provided by the banks, the pace of growth of trade and commerce industry and agriculture would leave been very slow. 8. Banks make the flow of funds into production channels. While bring money, they discriminate in party favour of essential activities and against non essential activities. olibanum they encourage the development of right types of activities which the society desires. 9. Banks al ways make it a leg to help the industries, the prudent, the punctual and the honest and discourage the dishonest, the spendthrift, the gambler the l disseminate and the knave (i. e. the rouge). Thus banks act as public conservators of commercial virtues. 10. Banks serves as the best financial intermediaries between the saver (i. e. the depositors or lend ers) and the investor (i. e. the borrowers or the entrepreneurs). dish PROFILE OF THE CANARA BANK The bank has many financial services and different schemes.Important among them are as follows internal PRODUCTS SAVING BANK DEPOSITS For individuals & non-trading organizations / institutions. CURRENT ACCOUNT For business trading operations trades, businessmen, corporate bodies. FIXED DEPOSITS Secured way to elevated returns individuals and institutions. KAMADHENU DEPOSITS Re-investment money multiplier plan. CANBANK AUTO RENEWAL Higher return in a shorter plan. CANFLEXI DEPOSITS A confederacy of savings & fixed deposits high return & instant liquidity. ASHRAYA DEPOSITS Respecting Indian values for senior citizens.RECURRING DEPOSITS purpose Inculcating saving, a rewarding & recurring habit. FLOATING RATE DEPOSITS SCHEME (FRDS) Insures against interest rate fluctuations. loanword PRODUCTS HOUSING bestow SCHEME Purchase of a ready built house / flat construction of house, purc hase of a site and construction of house thereon, for underpickings repairs, renovations, upgradation, and creation of additional amenities and for winning over of the HL liability from other recognized housing finance companies and banks. HOME IMPROVEMENT LOANS Furnishing the house / flat on with banks home loans / independently.CANMOBILE Facilities purchase of fresh / used cards / jeeps of all make. The scheme also covers finance for purchase of brand new two wheelers. CANCARRY Provided credit worthy individuals, professional and salaried twelvemonth for buying consumer durables and household articles. CANCASH Offer assistance for meeting unforeseen contingencies. Finance is minded(p) against pass shares, bonds and debentures held by the clients. CANBUDGET Fulfills the financial inescapably of confirmed employees of reputed PSUs, joint stock companies, central / situate / semi government employees nd lecturers / professors / assistant professors of colleges / universities and research institutes. CANRENT Provides loans to property owners whenever the property is leased / rented out to PSUs central / state / semi government undertakings. Reputed corporate banks. Financial institutions, Insurance companies and MNCs. CANMORTGAGE Designed to meet the financial requirements against security of impartial mortgagee of property (land & building) to professional, businessman, salaried persons and individuals.VIDYASAGAR EDUCATIONAL LOAN SCHEME Renders financial assistance for needy and meritous students for act all type of studies (professionals / general) in India and Abroad. LOAN SCHEME TO TRADERS / BUSINESS ENTERPRISES With hassle free and minimum harm and conditions, the scheme cater to the needs of traders and other business enterprises for savor slight flow of business activities. CANMAHILA Exclusive loan scheme for women clientele. AGRI LOAN SCHEME Various loan schemes for agri-clinic, minor, irrigation, farm development / machinery, plantation c rops fishers and for agro-exports.SSI LOAN SCHEME A host of schemed available for technology up gradation fund in textile and jute industries, credit linked great subsidy stand by credit for crownwork expenditure and margin money scheme of KVIC. OTHER PRIORITY SCHEME These include loan for retail traders, small business, professional / ego employed, medical practitioners and loan for solar water heating / home lighting system. CREDIT bill sticker operations The first Indian card issuers to bay ISO 9002 corroboration, CANCARD today as a distinct recognition in the domestic as well as foreign market. All verstors of CANCARD namely, CANCARD visa, classic, visa-corporate, master card and visa international gold are issued through all CANARA BANK outsetes & 24 CANCARD service centers located at major cities crosswise the country. Four Indian Banks are in affiliation with the bank for issue of CANCARD VISACARD. Launched DEBIT CARD on November 4, 2003, a value added and tech fo und product for its niche clients. CUSTOMER CENTRIC ETHOS CANARA BANK was the first to articulate the directive principles of good banking, detailing bankers duties and customers rights. First bank to get ISO certification for one of its branches in Bangalore in the category of 1995-1996. Recommendations of the Goiporia Committee on Customer Service charter been employ by the bank. The bank has Computerized Information Facilitation Centers (CIFCs) at all circles to look exclusively into customer in a single window framework. A 24 hour tele contact facility is also available for customers to air their grievances at corporate as well as circles levels. COMPANY PROFILE OF THE CANARA BANK HISTORICAL frontCanara Bank set up in 1906 with the name of Canara Bank Hindu Permanent Fund in Mangalore, India, by Ammembal Subba Rao Pai, is one of the oldest and major commercial bank of India. Its name was changed to Canara Bank Limited in 1910. The bank, along with 13 other major commer cial banks of India, was nationalized on 19th July, 1969, by the brass of India. Currently (2005), the bank has 2508 branches b passom all over India. The bank also has international presence in several(prenominal) centers, including London, Hong Kong, Moscow, Shanghai, Doha, and Dubai.In damage of business it is the largest nationalized commercial bank in India with a total business of about Rs. 2000 billion (about US $43 billion). ORGANISATION STRUCTURE The bank has fourteen wings in the enquiry great power, Bangalore. 1. Personnel reference 2. bodied Credit extension service 3. Risk Management Wing 4. Priority Credit Wing 5. Inspection Wing 6. Department of Information Technology Wing 7. Marketing and Customer Relationship 8. Planning and Development Wing 9. Recovery Wing 10. General Administration Wing 11. Financial Management Wing 12. Treasury and internationalistic Operation Wing 13.Retail Banking and Subsidiaries Wing 14. Vigilance Wing OFFICE AND BRANCHES Canara bank has a network of 2415 branches, propagate over 22states/ 4 union territories of the country and overseas branch London which are administrated through Head Office at Bangalore 13 Circles offices / transnational Division 35 Regional offices 2441 Branches BRANCHES ABORAD CANARA BANK established its International Division in 1976, to supervise the functioning of it various foreign department to give the required thrust to Foreign Exchange business, particularly export and to meet the requirements of NRIs.Though small in size the Banks presence abroad has brought in considerable foreign business, particularly NRI deposits. The presence of bank is shown under. CANARA BANK, London, UK (Branch) Indo Hong Kong International Finance Co Ltd Hong Kong (Subsidiary) AL Razouki International Exchange company , Dubai, UAE According to the latest information, both the CANARA BANK and State Bank of India have come into a mutual agreement as to both the banks will be ope military rank as a one unit in the Moscow. CORPORATE VISION To straighten out as a World Class Bank with best charges in the realms of asset portfolio, Customer orientation, production Innovation, Profitability an enhanced value for stake holders. To set new standards in IT application, Customer responsiveness, Asset quality and profitability, culminating in higher stoke holder value. To scale new peaks in obeisance of IT found banking, efficient service delivery market leadership in profitability. CORPORATE MISSION Augmenting low cost deposits. Toning up asset quality. Accent on cost control. Thrust on retail banking. Customer centric centering. merchandise innovation and marketing. Leveraging IT for comprehensive MIS. Maximize stockholders value. CORPORATE OBJECTIVE E- Efficiency. P- Profitability and Productivity. O- establishment Effectiveness. C- Customers centric H- Hi Tech Banking ACHIVEMENTS The Bank has already carved a niche in providing IT based services. Computerized bran ches, for 65% of the branches & 81% of aggregated business provided a wide array of services such as Network automated tellers, any where Banking , Tele Banking & Remote Access Terminals etc. , The Bank was the first to launch networked ATMs & obtain ISO certification.CANARA BANK shares are listed & Bangalore, Mumbai & National Stock Exchanges. Establish well-developed quality circles have participated in many National & International level competitions and have returned with handsome prizes. Has set up its own summit level Training colleges to its employees and thereby takes care of the knowledge, skills and attitudinal development of employees. Has also taken initiative in the environmental concerns. PERRFORMACE HIGHLIGHTS OF 2005-2006 Canara Bank has posted net profit of s. 581 cr for the half social class ended family 2005 as against Rs. 19 cr during the interchangeable previous half year, registered a growth rate of 38. 60%. The Bank operating profit registered an incr ease of Rs. 548 cr (57. 81%) to reach Rs. 1496 crore, up from Rs. 948 cr for the first half of the preceding financial. Return of assets a standard measure of profitability improved from 1. 08% (annualized) at a kinfolk 2002 to 1. 28% (annualized) as at September 2005. Number of branches moved up to 2441 from 2416 as at September 2002, besides 248 extension counter. Global deposits of the Bank aggregated to as Rs. 5, 396crore as against Rs. 67734 crore a year ago, year growth being 11. 31%. MATURITY CLASSIFICATION OF VARIOUS ASSETS AND LIABILITIES In levers of the certain Assets and liabilities, CANARA BANK have undertaking a behavior study, embedded options in the basis of past of past data, based on which the bank is in a grade to decide on the maturities of the asset and liabilities. 2. a. RESEARCH tendency A study on the Management of Non Performing Assets in the Canara Banks Loan Portfolio is make at the Canara Bank Donimalai Township, Sandur (TQ), Bellary (Dist), Karna taka State.The type of research used for the collection & analysis of the data is Historical inquiry Method. The primary(prenominal) source of data for this study is the past records prepared by the bank. The focus of the study is to determine the non-performing assets of the bank since its inception & to identify the ways in which the performance especially the non-performing assets of the Canara Bank evict be improved. The data regarding bank business relationship & profile are collected through Exploratory inquiry Design particularly through the study of lower-ranking sources and discussions with individuals.Data Collection Method Discussion with the manager & officers of the bank to get general information about the bank & its activities. ? Having face to face discussions with the bank officials ? By taking guidance from bank guide & departmental guide. Secondary Data ? Collection of data through bank annual reports, bank manuals and other pertinent documents. ? Collectio n of data through the literature provided by the bank. explore Measuring Tool The tools used for data collection are 1. individualised Interview 2. Secondary Sources 1. Personal InterviewIn this, discussions more held directly with the manager & officials to get the clear-cut information about the composition and data to be collected for the purpose of analysis. 2. Secondary Sources Annual company reports, fair to middlingizer Sheets, Profit & impairment account are used to collect the data. b. 1. SATATEMENT OF THE PROBLEM A crucial issue which is engaging the invariable attention of the banking industry is the alarmingly high level of non performing assets (NPA). Another major anxiety onwards the banking industry is the high relations cost of carrying non performing assets in their books.The resolution of the NPA problem requires greater answerability on the part of the corporate, greater disclosure in the parapraxis of defaults, an efficient credit information communion system and an curb legal frame work pertaining to the banking system so that court procedures can be stream lined and actual recoveries made within an acceptable time frame. So the lying-in titled A study on the Management of Non Performing Assets in the Canara Banks Loan Portfolio looks in to the implications of high NPAs and suggests military issueive convalescence measures for resolving problem loans and thus making the banks NPAs level healthy.It also compares the position of the Canara Bank with other public sector banks in impairment of their NPAs in the last three eld and also to study the management of total assets and advances of the Canara Bank among other public sector banks. b. 2. OBJECTIVES OF THE STUDY ? To evaluate the Canara Banks asset quality. ? To compare the position of the Canara Bank with other public sector banks in terms of their NPAs. ? To study the management of total assets and advances of the Canara Bank. ? To identify the doiveness of the risk man agement system, undertaken by the bank. To analyze sector wise non-performing assets. ? To offer useful suggestions to reduce the NPA in banks. b. 3. SCOPE OF THE STUDY ? The scope of the study here was confined to the organization only. ? The study covers to find out the strategy required to reduce the NPAs. ? The soaking up is given only in understanding the NPAs growth with the reference of Canara Bank. ? The data is purely based on the secondary data collected from website and journal. ? The scope is limited to drawn conclusions from analysis and interpretations of the primary and secondary data of the Canara Bank. . 4. METHODOLOGY Introduction The quality of the project work depends on the methodology adopted for the study. Methodology, in turn, depends on the nature of the project work. The use of proper methodology is an essential part of any research. In order to conduct the study scientifically, suitable methods & measures are to be followed. Research Design The type of re search used for the collection & analysis of the data is Historical Research Method. The main source of data for this study is the past records prepared by the bank.The focus of the study is to determine the non-performing assets of the bank since its inception & to identify the ways in which the performance especially the non-performing assets of the Canara Bank can be improved. The data regarding bank history & profile are collected through Exploratory Research Design particularly through the study of secondary sources and discussions with individuals. Data Collection Method Discussion with the manager & officers of the bank to get general information about the bank & its activities. ? Having face to face discussions with the bank officials ?By taking guidance from bank guide & departmental guide. Secondary Data ? Collection of data through bank annual reports, bank manuals and other relevant documents. ? Collection of data through the literature provided by the bank. Research Mea suring Tool The tools used for data collection are 1. Personal Interview 2. Secondary Sources 1. Personal Interview In this, discussions were held directly with the manager & officials to get the clear-cut information about the topic and data to be collected for the purpose of analysis. 2. Secondary Sources Annual company reports, Balance Sheets, Profit & Loss account are used to collect the data. . 5. LIMITATIONS OF THE STUDY ? The study is mainly based on the secondary data provided by the bank. As such it is vanquish to the limitations of the secondary data. ? The study is based only on NPAs with admiration to loans. ? The study is based on the data given by the officials and reports of the bank. The confidentiality of some facts and figures is a limitation. ? The non-availability of relevant information is one of the limitations. ? The study is done only for the limited past 3 years. 3. THEORITICAL OVERVIEW NPA ITS IMPACT AND MAGNITUDE MEANING OF NPAAn asset is categorise as non- performing asset (NPA) if overdues in the form of principal and interest are not paid by the borrower for a period of clxxx old age. How ever with effect from March 2004, default status would be given to a borrower if dues are not paid for 90 long time. If any advance or credit facilities disposed(p) by bank to a borrower becomes non-performing, then the bank will have to treat all the advances / credit facilities granted to that borrower as non-performing without having any regard to the fact that there whitethorn still exit certain advances / credit facilities having performing status.A non-performing asset (NPA) was defined as a credit facility in respect of which the interest and / or sequence of induction of principal has remained Past repayable for a stipulate period of time. An measuring stick due under any credit facility is handle as past due when it has not been paid within 30 long time from the due date. Due to the improvement in the payment and settlement systems, retrieval climate, up gradation of technology in the banking system, etc. , it was decided to dispense with past due concept, with effect from March 31, 2001. Accordingly, as from that date, a Non performing asset (NPA) shell be an advance where i. avocation and /or installment of principal remain overdue for a period of more than 180 days in respect of a Term Loan, ii. The account remains out of order for a period of more than 180 days, in respect of an overdraft/ cash Credit(OD/CC), iii. The bill remains overdue for a period of more than 180 days in the teddy of bills purchased and discounted, iv. Interest and/ or installment of principal remains overdue for two reap seasons but for a period not exceeding two half years in the object lesson of an advance granted for agricultural purpose, and v. whatever amount to be received remains overdue for a period of more than 180 days in respect of other accounts. 90 days overdue norm With a view to moving towards international best practices and to ensure greater transparency, it has been decided to adopt the 90 days overdue norm for identification of NPAs, form the year ending March 31, 2004. Accordingly, with effect form March 31, 2004, a non-performing asset (NPA) shell be a loan or an advance where i. Interest and /or installment of principal remain overdue for a period of more than 90 days in respect of a Term Loan, i. The account remains out of order for a period of more than 90 days, in respect of an overdraft/ cash Credit(OD/CC), iii. The bill remains overdue for a period of more than 90 days in the case of bills purchased and discounted, iv. Interest and/ or installment of principal remains overdue for two reap seasons but for a period not exceeding two half years in the case of an advance granted for agricultural purpose, and v. Any amount to be received remains overdue for a period of more than 90 days in respect of other accounts.As a facilitating measure for smooth transition to 90 days nor m, bank has been advised to move over to charging of interest at monthly rests, by April 1, 2002. However, the date of sort of an advance as NPA should not be changed on account of charging of interest at monthly rests. Banks should, therefore, continue to classify an account as NPA only if the interest charged during any quarter is not serviced fully with 180 days from the end of the quarter with effect from April 1, 2002 and 90 days from the end of the quarter with effect from March 31, 2004. Out of Order Status An account should be treat as Out of Order if the outstanding residuum remains continuously in excess of the ratified limit / drawing power. In cases where the outstanding balance in the principal operating account is little than the countenanceed limit / drawing power, but there are no credits continuously for 180 days (to be reduced to 90 days, with effect from March 31, 2004) as on the date of Balance Sheet or credits are not enough to cover the interest debited t he same period, these accounts should be treated as out of order. OverdueAny amount due to the bank under any credit facility is overdue if it is not paid on the due date fixed by the bank. Asset Type Percentage of Provision Sub standard (age up to 18 months)10% indeterminate 1 (age up to 2. 5 years)20% Doubtful 2 (age 4. 5 years)30% Doubtful 3 (age in a higher place 4. 5 years)50% Loss Asset coulomb% INCOME RECOGNITION-POLICY The policy of income recognition has to be objective and based on the record of recovery. Internationally income from non-performing assets (NPA) is not recognized on accrual basis but is booked as income only when it is actually received.Therefore, the banks should not charge and take to income account interest on any NPA. However, interest on advances against term deposits, NSCs, VIPs, KVPs, and look policies may be taken to income account on the due date, provided fair to middling margin is available in the accounts. Fees and commissions earned by the ba nks as a result of re-negotiations or rescheduling of outstanding debts should be recognized on an accrual basis over the period of time covered by the re-negotiated or rescheduled xtension of credit. If Government guaranteed advances become NPA, the interest on such advances should not to be taken to income account unless the interest has been realized. REVERSAL OF INCOME If any advance, including bills purchased and discounted, becomes NPA as at the close of any year, interest accrued and credited to income account in the corresponding previous year, should be reversed or provided for if the same is not realized. This will apply to Government guaranteed accounts also.In respect of NPAs, fees, commission and similar income that have accrued should cease to accrue in the current period and should be reversed or provided for with respect to past periods, if uncollected. THE CONCEPT OF GROSS NPA Income recognition is not possible once an account becomes NPA. Interest accrued on non pe rforming loan accounts is debited to the respective account and credited to the interest suspense account instead of the profit and loss account. Usually no debits are permitted in non performing asset expect unavoidable expenditure like litigation expenses, insurance etc.Hence the balance outstanding in an NPA account includes 1. Balance as on date of becoming an NPA. 2. Interest accrued but not realized. On balance sheet date banks make renders for loan losings. This furnish is calculated not on the balance outstanding but on the net balance, balance net of the amount unploughed in the interest suspense account. This book balance of the net of the interest suspense account is cognise as Gross NPA. But in cases where guarantee learn is received from credit guarantee corporations like ECGC, before making the render for loan losses, such claim received is also netted from the taxation NPA.The terminology net NPA indicates the balance in interest suspense account. For evaluatio n rbi and other rating agencies rely on purpose usually the net NPA balance. Thus Gross NPA means, balance outstanding deduction balance in interest suspense account. Net NPA means Gross NPA minus balance claim received amount and provision outstanding in that account. IMPACT OF NPA At the Macro level, NPAs have chocked off the supply line of Credit of the potential lenders thereby having a deleterious effect on capital formation and arresting the economic activity in the country.At the Micro level, unsustainable level of NPAs has eroded current meshing of banks and FIs. They have led to reduction of interest income and increase in provisions and have restricted and recycle of funds leading to various Asset Liability mismatches. Besides this, it has led to erosion in their capital base and reduction in competitiveness. The problem of NPA is not a matter of concern to banks and FIs alone. It is the matter of sober concern to the country and any bottleneck in the smooth flow of cr edit is bound to cause adverse repercussions in the economy.The mounting menace of NPAs has raised the cost of credit, made Indian business man uncompetitive as compared to their counterparts in other countries. It has made banks more adverse to risks and squeezed genuine Small and modal(a) Enterprises (SMEs) from accessing competitive credit and has throttled their enterprising spirits as well, to a great extent. Due to their crippling effect on the operation of the banks, Asset quality has been considered as one of the most important parameters in the measure of banks performance under the CAMELS Supervisory Rating System of RBI. THE MAGNITUDENon-Performing Asset (NPA) has emerged since over a decade as an alarming threat to the banking industry in our country sending perturbing signals on the sustainability and endurability of the affected banks. The positive results of the chain of measures affected under banking reforms by the Government of India and RBI in terms of the two N arasimhan Committee Reports in this surging threat. Despite various correctional steps administered to sack and end this problem, concrete results are eluding. It is a sweeping and all pervasive virus confronted universally on banking and financial institutions.The severity of the problem is however acutely suffered by Nationalized Banks, followed by the SBI group, and the all India Financial Institutions. As at 31. 03. 2004 the aggregate gross NPA of all scheduled commercial banks amounted to Rs. 63883 crore. Table No. 1 gives the figures of net NPA for the last three years. The ratio of net non-performing assets to net advances also declined during 2005-06. Majority of the banks, this ratio is less than 4 percent. Punjab and Sind Bank has the highest ratio with 9. 62 percent followed by Dena Bank of India with 9. 4 percent. 4 banks reported cryptograph ratio during 2005-2006.Further it is revealed that commercial banks in general suffer a tendency to understate their NPA figures . There is the practice of ever-greening of advances, through subtle techniques. As per report appearing in a national daily the banking industry has under estimated its non-performing assets (NPAs) by whopping Rs. 3862. 10 Crore as on March 1997. The industry is also estimated to have under-provided to the extent of Rs. 1,412. 29 Crore. The worst offender is the public sector banking industry. Nineteen nationalized banks have underestimated their NPAs by Rs. 3,029. 29 Crore.Such deception of NPA statistics is executed through the following ways. ? Failure to identity an NPA as per stipulated guidelines There were instances of sub-standard assets being sort as standard. ? Wrong sorting of an NPA Classifying a loss asset as a questionable or sub-standard asset, classifying a tentative asset as a sub-standard asset. ? Classifying an account of a credit customer as substandard and other accounts of the same credit customer as standard, throwing prudential norms to the winds. REASON S FOR NPAs In Priority Sector Advances 1.Directed and pre-approved natures of loans sanctioned under sponsored programmes. 2. Mis-utilization of loans and subsidies. 3. Diversion of funds. 4. Absence of security. 5. Lack of utile follow-up (Post sanction supervision and control) 6. Absence of Bankruptcy and fore-closure loans. 7. Decrepit legal system. 8. Cost in-effective legal recovery measures. 9. Difficulty in execution of Decrees obtained. In Non-Priority Sector Advances 1. Inadequate credit appraisal. 2. Demand recession. 3. Industrial sickness and labor problems. 4. slack up Legal system. 5. Diversion of funds. 6.Willful default. 7. Technology Obsolescence. 8. Managerial inefficiency. 9. Political compulsion and corruption. WRITING OFF NPAs In terms of section 43(D) of the Income Tax Act 1961, income by way of interest in social intercourse to such categories of poor and dubious debts as may be prescribed having regard to the guidelines issued by the RBI in relation to s uch debts, shall be chargeable to tax in the previous year in which it is credited to the banks profit and loss account or received, whichever earlier. This stipulation is not applicable to provisioning required to be made as indicated above.In other words, amounts set aside for aside for making provision for NPAs as above are not eligible for tax deductions. Therefore the banks should both make full provision as per the guidelines or write-off such advances and claim such tax benefits as are applicable, by evolving appropriate methodology in consultation with their auditors / tax consultants. Recoveries made in such accounts should be offered for tax purposes as per the rules. WRITE-OFF AT HEAD OFFICE LEVEL Banks may write-off advances at Head Office Level, even though the relative advances are still outstanding in the branch books.However, it is necessary that provision is made as per the classification accorded to the respective accounts. In other words, if an advance is a loss asset, 100 percent provision will have to be made there for. DEBT RECOVERY TRIBUNAL Any person aggrieved by any measure taken by secured creditor or his authorized officer may file an ingathering to Debts Recovery courtroom, within 45days from date on which such measure was taken. That is action of taking self-will of asset, takeover of management of business of borrower, ap smudgeing person to manage secured asset etc. is taken by the creditor.When a borrower files an appeal, the appeal cannot be entertained unless, the borrower deposits 75% of the amount claimed in the maintain by secured creditor. The DRT can waive or reduce the amount required to be deposited. The amount is not required to be deposited at the time of filing appeal, but appeal will not heard till the amount is deposited. The borrower while filing the appeal should also file an application requesting the Debt Recovery Tribunal to admit the appeal without deposit of any amount. If the DRT orders partial deposit of the amount and the same is not deposited, appeal can be dismissed.The 75% deposit is only required if the appeal is filed by the borrower. If some other aggrieved person (e. g. guarantor, shareholder) files it the deposit is not required. If a person is aggrieved by the order of the DRT, it can file an appeal to the Appellate Tribunal within 30days from the date of receipt of the DRT order. If the DRT or Appellate Tribunal holds that possessions of assets by the secured creditor was wrongful and directs the secured creditor to return asset to concerned borrower, the borrower shall be entitled to compensation and costs as may be determined by DRT or Appellate Tribunal.SECURITIZATION ACT With the enactment of the Securitization and Reconstruction of Financial Assets and Enforcement of warrantor Interest Act 2002, banks can issue notices to the defaulters to pay up the dues and the borrowers will have to clear their dues within 60days. Once the borrower receives a notice from the c oncerned bank and the financial institution, the secured assets mentioned in the notice cannot be sold or transferred without the consent of the lenders.The main purpose of this notice is to inform the borrower that either the sum due to the bank or financial institution be paid by the borrower or else the former will take action by way of taking over the possession of assets. Besides assets, bank can also takeover the management of the company. Thus the bankers under the aforementioned Act will have the much needed authority to either sell the defaulting companies or charge their management. OVERALL BANKING AND NPA BANKING REFORMS IN INDIA The Nationalization of the major commercial banks in the year 1969 and 1980 had brought fundamental changes in the banking system in India.It had brought about major shifts in the priorities in the banking operations. Branch expansion policies of banks were tuned upto meet the banking needs of the people in rural and semi urban centers. For acce lerating the socio-economic and rural development process several Governments sponsored programs were launched and lending in the priority sector, irrational lending under socio political pressures, mounting levels of bad debts, branch expansion at non viable centers etc. gradually started affecting the financial health of the banking sector in the country.Commercial banks were not following uniform accounting policies camouflaged the true financial position of banks. Quality of loan asset was not a concern and a high proportion of loan assets started becoming non performing. nigh of the banks were under capitalized and some of them even with negative worth. Thus there was a compelling need for a change and various policy corrections had to be taken with the view of beef up the economy. Thus the Government of India was forced to initiate a process of reforming the financial sector which banks constitute a dominant part. The reforms process includes 1. Introduction of prudential no rms. . Transparency in balance sheets. 3. Deregulation of interest rates. 4. Partial deviation from tell lending. 5. Upgradation of technology. 6. Entry of new private sector banks. NARASIMHAM COMMITTEE The first phase of banking sector reforms was initiated in the year 1992 in pursuance of recommendations of the committee on financial sector reforms headed by Narasimham Committee. As per the recommendations of Narasimham Committee, The Reserve Bank of India introduced in a phased manner, prudential norms for income recognition, asset classification, and provisioning in the year 1998 Narasimham Committee-II came out with more tringent norms for the industry. The prudential norms were revise from time to time to fall in line with the best accounting practices and for transparency in published accounts. It is widely recognized that as a result of these reforms, the Indian Banking System is becoming increasingly ripe(p) in terms of the transformation of business processes and the app etite for risk management. Deregulation, technological upgradation and increased market integrating have been the fall upon factors driving change in the financial sector. EMERGING BANKING TRENDSDuring the current financial year, the focus of non-going reforms in the banking sector was on soft interest rates regime, increasing operational efficiency of banks, strengthening regulatory mechanisms and on technological up-gradation. As a step towards a softer interest rate regime, RBI in its Annual Policy Statement had advised banks to introduced flexible interest rate system for new deposits, announce a maximum spread over PLR for all advances other than consumer credit and to review the present maximum spread over PLR and reduce them wherever they are unreasonably high. A BRIEF accounting OF NPAThe concept of Asset Quality on the books of Public Sector Banks (PSBs) and Financial Institutions (FIs) came into being when Reserve Bank of India (RBI) introduced prudential norms on the r ecommendations of the Narasimham Committee in the year 1992-1993. The Committee recommended that an asset may be treated as Non-Performing Asset (NPA), if interest or installment of principal remains overdue for a period exceeding 180days and that banks and FIs should not take into their income account, the interest accrued on such Non-Performing Assets, unless it is actually received or recovered.The Committee also recommended that Assets be classified into four categories namely Standard, Sub-standard, Doubtful and Loss Assets and that certain specified percentage of the same be held as provision there against. Before the reform process, banks were booking income on an accrual basis and their balance sheets did not reflect their true specified financial health. Thus the profit, capital and reserves were overstated by them. After 10years of NPA terror in the banking industry, Now the Banks Have Teeth, a new law lightens the burden of bad loans for Indian Banks.The law that has been the catalyst for the bad loan somewhat up passed Indias Parliament in November 2002. It allows lenders to more easily foreclose on debitors assets or even demand a change in management. Within weeks of the laws passage, banks saw a spring of loans once deemed unrecoverable being repaid in double time. The Act is The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Also know as the Securitization Act). This Act enables the setting up of asset management companies for addressing the problems of non-performing assets of banks and FIs.INDIAN BANKING AND NPA The origin of the problem of burgeoning NPAs lies in the quality of managing credit risk by the banks concerned. What is needed is having adequate preventive measures in place namely, bushel pre-sanctioning appraisal responsibility and having an effective post-disbursement supervision. Banks concerned should continuously monitor loans to identity accounts that have potential t o become non-performing. The core banking business is of mobilizing the deposits and utilizing it for lending to industry.Lending business is generally encouraged because it has the effect of funds being transferred from the system to productive purposes which results into economic growth. However lending also carries credit risk, which arises from the failure of borrower to fulfill its contractual obligations either during the course of a transaction or on a future obligation. The history of financial institutions also reveals the fact that the biggest banking failures were due to credit risk. Due to this, banks are restricting their lending operations to secured avenues only with adequate collateral on which to fall back upon in a posture of default.GLOBAL NPA The core banking is of mobilizing the deposits and utilizing it for lending to industry. Lending business is generally encouraged because it has the effect of funds being transferred from the system to productive purposes w hich results into economic growth. However lending also carries credit risk, which arises from the failure of borrower to fulfill its contractual obligations either during the course of a transaction or on a future obligation. A question that arises is how much risk can a bank afford to take? Recent happenings in the business world Enron, WorldCom, Xerox, Global Crossing do not give much confidence to banks.In case after case, these giant corporates became bankrupt and failed to provide investors with clearer and more complete information thereby introducing a degree of risk that many investors could neither anticipate nor welcome. The history of financial institutions also reveals the fact that the biggest banking failures were due to credit risk. Due to this, banks are restricting their lending operations to secured avenues only with adequate collateral on which to fall back upon in a situation of default. It needs to be recognized that prudential norms in respect of loan classif ication vary widely across countries.A country follows varied approaches, from the subjective to the prescriptive. Illustratively, in the United Kingdom, supervisors do not require banks to adopt any particular form of loan classification and either is there any recommendation on the number of classification categories that banks should employ. Other countries, such as, the United States follow a more prescriptive approach, wherein loans are classified into several categories based on a set of criteria ranging from payment experience to the environment in which the debtor evolves.The adoption of such a system points to the usefulness of a structured approach those facilities the supervisors ability to analyze and compare banks loan portfolios. India is a better bet than China for investors to pump money into non-performing assets (NPAs) restructuring as it has better environment for recovery, according to consulting firm Price water House Coopers (PwC). WARNING measure & POOR Standa rd & Poors and The Credit Rating Information Services of India Ltd. , (CRISIL) estimate that Indias schedule commercial banks require between US$11billion-US$13billion in new capital to support losses embedded in impaired assets.The significant capital shortfall estimated recognizes the existing moderate reported capital position of Indian banks, the inadequate loan loss reserves maintained by the banks to absorb probably losses. The wishy-washy capital position of the Indian banking system is largely a reflection of growing asset-quality problems stemming from weak underwriting and credit management system, and the vulnerabilities of the Indian banking sector to the impact of globalization on the countrys key industry sectors. The asset-quality position also has suffered from regulations with respect to lending to priority sectors. The capital shortfall calculated assumes a significantly higher system non-performing loan level to that reported under Indian regulatory standards, verbalise Peter Sikora, associate director, Financial Services Rating, Standard & Poors, together with CRISIL are, however, of the view that non performing loan levels for Indian banks will be significantly higher at 20%-25% if more conservative classification standards are adopted and restructured, and ever greened loans are included as impaired assets. LENDING BEHAVIOUR OF BANKSDue to the excess liquidity in the banking system, banks are now giving credit to even non-priority sectors in an combative manner. Now banks give credit more to vain purposes, like car loans, housing loans, consumer durables loans and personal loans. This reckless lending paves the way to repayment irregularities and more of NPA in the banking system. But on the others side economy has become buoyant and the borrowers are now in a position to repay the loans even if it is an unproductive loan.Banks have improved their credit appraisal system. NPA percentage in City Banks elevator car Loan Portfolio is z ero, because of the sophisticated credit appraisal system followed by the bank. Banks now give priority to businesses and lending schemes also follow the path. CLASSIFICATION OF ASSETS CATEGORIES OF NPAs Banks are required to classify non-performing assets further into the following three categories based on the period for which the asset has remained non-performing and the realisability of the dues a) Sub-Standard Assets. ) Doubtful Assets. c) Loss Assets. SUB-STANDARD ASSETS A sub-standard asset was one, which was classified as NPA for a period not exceeding two years. With effect from 31March 2001, a sub-standard asset is one, which has remained NPA for a period less than or equal to 18 months. In such cases, the current net worth of the borrower / guarantor or the current market value of the security charged is not enough is not enough recovery of the dues to the banks in full.In other words, such an asset will have well defined credit weakness that jeopardize the liquidation o f the debt and are characterized by the distinct possibility that the banks will sustain some loss, if deficiencies are not corrected. With effect from 31March 2005, a sub-standard asset would be one, which has remained NPA for a period less than or equal to 12 months. DOUBTFUL ASSETS A doubtful asset was one, which remained NPA for a period exceeding two years. With effect from 31March 2001, as asset is to be classified as doubtful, if it has remained NPA for a period exceeding 18 months.A loan classified as doubtful has all the weaknesses inherent in assets that were classified as sub-standard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently know facts, conditions and values exceedingly questionable and improbable. With effect from 31March, 2005, an asset to be classified as doubtful if it remained in the sub-standard category for 12 months. LOSS ASSETS A loss asset is one where loss has been identified by the bank or internal or external auditors or the RBI recap but the amount has not been compose off wholly.In other words, such an asset is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted although there may be some salvage or recovery value. It should be noted that the above classification is only for the purpose of computing the amount of provision that should be made with respect to bank advances and certainly not for the presentation of advances in the bank balance sheet. The Third Schedule to the Banking Regulation Act 1949, solely governs presentation of advances in the balance sheet.Banks have started publication notices under The Securitization Act,2002 directing the defaulter to either pay back the dues to the bank or else give the possession of the secured assets mentioned in the notice. However, there is a potential threat to recovery if there is substantial erosion in the value of security given by the borrower or if borrower has committed fraud. Under such a situation it will be prudent to directly classify the advances as a doubtful or loss asset, as appropriate. RBI GUIDELINES FOR CLASSIFICATION OF ASSETSBroadly speaking, classification of assets into above categories should be done taking into account the degree of well-defined credit weaknesses and the extent of dependence on collateral security for realization of dues. Banks should establish appropriate internal systems to eliminate the tendency to delay or postpone the identification of NPAs, especially in respect of high value accounts. The banks may fix a minimum cut off point to decide what would constitute a high value account depending upon their respective business levels.The cut off point should be valid for the entire accounting year. Responsibility and validation levels for ensuring proper asset classification may be fixed by the banks. The system should ensure that doubts in asset classification due to any reason are settled through specified internal channels within one month from the date on which the account would have been classified as NPA as per extent guidelines. UPGRADATION OF LOAN ACCOUNTS CLASSIFIED AS NPAsIf arrears of interest and principal are paid by the borrower in the case of loan accounts classified as NPAs, the account should no longer be treated as non-performing and may be classified as standard accounts. Asset Classification to be borrower-wise and not facility-wise i. It is difficult to envisage a situation when only one facility to borrower becomes a problem credit and not others. Therefore, all the facilities granted by a bank to a borrower will have to be treated as NPAs and not the particular facility or part thereof which has become irregular. ii.If the debts arising out of development of letter of credit or invoked guarantees are parked in a separate account, the balance outstanding in that account for should be treated as a part of the borrowers principal operating account f or the purpose of application of prudential norms on income recognition, asset classification and provisioning. Accounts where there is erosion in the value of Security i. A NPA need not go through the various stages of classification in cases of serious credit impairment and such assets should be straightaway classified as doubtful or loss asset as appropriate.Erosion in the value of security can be reckoned as significant when the realizable value of the security is less than 50 percent of the value assessed by the bank or accepted by RBI at the time of last inspection, as the case may be. Such NPAs may be straightaway classified under doubtful category and provisioning should be made as applicable to doubtful assets. ii. If the realizable value of the security, as assessed by the bank / approved valuers / RBI is less than 10 percent of the outstanding in the borrowal accounts, the existence of security should be ignored and the asset should be straight away classified as loss ass et.It may be either written off or fully provided for by the bank. RESTRCTURING / RESCHEDULING OF LOANS A standard asset where the terms of the loan agreement regarding interest and principal have been renegotiated or rescheduled after commencement of production should be classified as sub-standard and should remain in such category for at least one year of satisfactory performance under the renegotiated or rescheduled terms.In the case of sub-standard and doubtful assets also, rescheduling does not entitle a bank to upgrade the quality of advance automatically unless there is satisfactory performance under the rescheduled / renegotiated terms. Following representations from banks that the foregoing stipulations deter the banks from restructuring of standard and sub-standard loan assets were reviewed in March 2001. In the context of restructuring of the accounts, the following stages at which the restructuring / rescheduling / renegotiation of the terms of loan agreement could take place can be identified a) Before commencement of commercial production. ) After commencement of commercial production but before the asset has been classified as sub-standard. c) After commencement of commercial production and after the asset has been classified as sub-standard. PROVISIONING REQUIREMENTS As and when an asset is classified as an NPA, the bank has to further sub-classify it into sub-standard, loss and doubtful assets. Based on this classification, bank makes the necessary provision against these assets. Reserve Bank of India (RBI) has issued guidelines on provisioning requirements of bank advances where the recovery is doubtful.Banks are also required to comply with such guidelines in making adequate provision to the contentment of its auditors before declaring any dividends on its shares. In case of loss assets, guidelines specifically require that full provision for the amount outstanding should be made by the concerned bank. This is justified on the grounds that such an asset is considered uncollectible and cannot be classified as bankable asset. Asset TypePercentage of Provision Sub-Standard (age upto 18 months) 10% Doubtful 1 (age upto 2. 5years) 20% Doubtful 2 (age 4-5years) 30%Doubtful 3 (age above 4-5years) 50% Loss Asset 100% THE NPA PROBLEM The origin of the problem of burgeoning NPAs lies in the quality of managing credit risk by the banks concerned. What is needed is having adequate preventive measures in place namely, fixing pre-sanctioning appraisal responsibility and having an effective post-disbursement supervision. Banks concerned should continuously monitor loans to identify accounts that have potential to become non-performing. The performance in terms of profitability is a benchmark for any business enterprise including the banking industry.However, increasing NPAs have a direct impact on banks profitability as legally banks are not allowed to book income on such accounts and at the same time banks are forced t make provisi on on such assets as per the RBI guidelines. Also, with increasing deposits made by the public in the banking system, the banking industry cannot afford defaults by borrowers since NPAs affects the repayment capacity of banks. Further, RBI successfully creates excess liquidity in the system through various rate cuts and banks fail to utilize this benefit to its advantage due to the fear of burgeoning non performing assets.CREDIT APPRAISAL SYSTEM Prevention of standard assets from migrating to non performing status is most important in NPA management. This depends on the style of Credit Management Mechanism available in banks. The quality of credit appraisal and the effectiveness of post credit appraisal and effectiveness of post credit follow up influences the asset quality of the banks in a big way. At Pre-Credit Stage 1. Extensive enquiry about the character and the credit worthiness of the borrower. 2. Viability of the project to be financed is meticulously studied. 3. Adequate c overage of collateral is ensured to the extent possible. . Financial statement of the borrower is obtained and poor analysis of their financial strength is done. 5. Apart from the published financial statements independent enquires are made with previous bankers. 6. Pre-Credit inspection of the assets to finance is made. At Post-Credit Stage 1. Operations in the account are closely monitored. 2. Unit find is done at irregular intervals. 3. Asset verification is done on a regular basis. 4. Borrowers conciliate control returns regularly. 5. Accounts are periodically to evaluate the financial health of the unit. 6. Early warning signals are powerful attended to. . Close contract with the borrower is maintained. 8. Potential NPAs are kept under special watch list. 9. potentially viable units are restructured. 10. Repayment program of accounts with temporary cash flow problem is re