Gender Differences in Mathematics Essay

Throughout the first half of the 20th century and into the second, women studying or working in engineering were popularly perceived as oddities at best, outcasts at worst, defying traditional gender norms. Female engineers created systems of social, psychological, and financial mutual support, through such strategies, conditions for female engineers changed noticeably over just a few decades, although many challenges remain. Engineering education in the United States has had a gendered history, one that until relatively recently prevented women from finding a place in the predominantly male technical world. For decades, Americans treated the professional study of technology as men’s territory. At places where engineering’s macho culture had become most ingrained, talk of women engineers seemed ridiculous (Sax, 2005). For years it’s been assumed that young women avoid careers in mathematics-based fields, like engineering and physics, because they lack confidence in their math skills. But a new study finds that it’s not a lack of confidence in their math skills that drives girls from those fields; it’s a desire to work in people-oriented professions. It has been found that young women who are strong in math tend to seek careers in the biological sciences. They value working with and for people, they don’t perceive engineering as a profession that meets that need. The environment at many tech schools is hostile toward helping students achieve a degree and is more geared toward weeding out those who are struggling. It’s difficult to come up with alternative engineering solutions if everybody in the room looks alike. That’s the initial reason why automakers and suppliers are busy trying to identify and hire minority and women engineers. The business case is that if more than half of an automaker’s customers are either female and/or people of color, which they are, then those groups need to be represented in every sector of the company. One of the most important areas for automakers to get a range of views is in product development. With that diversity mission in mind, DaimlerChrysler Corp. , Ford Motor Co. and General Motors Corp. , all have mounted aggressive programs to identify and hire minority and women engineers. At GM the story is the same. To attract minority and women engineers, the automaker proclaims that innovation comes from the people who see the world in a different way than everyone else. One women and minorities enter into the automotive engineering ranks, they need to be challenged and encouraged to develop their careers or they’ll be gone (Sax, 2005). It’s not just the Big Three that are working to create a more diverse engineering workforce. Suppliers and engineering support organizations such as the Society of Automotive Engineers are trying to draw more women and minorities into the profession. Faced with chronically small percentages of minorities and women in virtually every segment of engineering, companies are going to great lengths to attract them to the world of automotive engineering. Harvard President Lawrence Summers ignited a firestorm recently when he suggested more men than women are scientists because of differences between males and females in â€Å"intrinsic aptitude. † Many scientists-both men and women-expressed outrage at Summer’s remarks and blamed any lag in math among girls mainly on discrimination and socialization (Dean, 2006). They point out that girls have closed the gap in average scores on most standardized math tests in elementary and high school. Today women constitute almost half of college math majors and more than half of biology majors. But Summer’s supporters say he courageously raised a legitimate question for scientific inquiry. Indeed, in recent years some researchers have been pursuing a scientific explanation for the discrepancies in math and science aptitude and achievement among boys and girls and have found differences, including biological ones. Summer’s suggestion that women are biologically inferior in math infuriated many female scientists. Some asserted that the other two factors he mentioned were far more important in keeping women out of science: sex discrimination and the way girls are taught to view math as male territory. Some differences are well established. Girls do better on tests of content learned in class and score much higher on reading and writing tests than boys. Boys score higher on standardized tests with math and science problems not directly tied to their school curriculum. On tests of spatial awareness, boys do better on tests that involve navigation through space. Girls are better at remembering objects and landmarks. Studies show differences in brain structure and hormonal levels that appear to influence spatial reasoning. But the implications of these differences for real world math and science achievement remain unclear. â€Å"There is evidence that male and female brains differ anatomically is subtle ways, but no one knows how these anatomical differences relate to cognitive performance,† (Dean, 2006). At the heart of the current controversy is a societal implication-that the failure of an institution like Harvard to tenure even one woman mathematician can be blamed on the lack of top-flight women mathematicians, which in turn can be blamed on too-few top female minds in math. As evidence of intrinsic aptitude differences, Summers pointed out that more boys than girls receive top scores on standardized math tests. Today girls receive better grades than boys in math and science through high school, have closed the gap on average scores on most standardized math tests and take more advantage high school classes than boys in almost every category except physics and high-level calculus. In college they constitute nearly half the math majors and more than half the biology majors. Indeed, today a growing number of researchers contend boys are the ones who are shortchanged-judging by the larger proportion of boys in special-education classes and the declining proportion attending college. Women now make up 56 percent of students enrolled in college; by 2012, the Department of Education projects they will account for about 60 percent of bachelor’s degrees (2002). The fact that more boys than girls make top scores on standardized math tests is often invoked as evidence that boys possess an innate superiority in high-level math. Experts on both sides of the divide agree gender differences are real, even if they disagree bout how much is socially learned and how much biologically based. Girls do better on writing and on algebra problems, probably because algebraic equations are similar to sentences, and girls excel in language processing. Boys are better at mathematical word problems; girls are better at mathematical calculation. Boys and girls also differ on spatial skills, and experts are divided over how innate or important these differences are. A recent study of the Graduate Record Exam, for instance, found men did better on math problems where a spatially based solution was an advantage (Gallagher, & Kaufman, 2005). Sex hormones have been shown in several studies to affect the ability to envision an object rotating in space. Females who take male hormones to prepare for a sex-change operation improve on tests of 3-D rotation and get worse on tests of verbal fluency, at which women typically excel. During their menstrual cycle, women do better on 3-D rotation when levels of the female hormone estrogen are low; they do better on verbal fluency when estrogen levels are high. If science be taught directly with a hands-on, inquiry-based approach, it sustains girl’s interest in science. Girls like to work in cooperative teams, a lot of science was taught in a competitive mode. Women scientists also earn less than men. But it’s only fair that women who work fewer hours face the economic consequences of lower salaries and less status. References: Dean, Cornelia. (2006). â€Å"Dismissing ‘Sexist Opinions’ About Women’s Place in Science†. A Conversation with Ben A. Barres. The New York Times. July 18, 2006, pp. 1-5. Gallagher, Ann M. , & Kaufman, James M. (2005). â€Å"Gender Differences in Mathematics: An Integrative Psychological Approach. Cambridge University Press. National Center for Education Statistics, â€Å"Projections of Education Statistics To 2012†. (2002). Available on-line: http://nces. ed. gov/pubs2002/proj. 2012/ch_2. asp.. Sax, Leonard. (2005). Too Few Women- â€Å"Figure It Out†. Los Angeles Times. Jan. 23, 2005.

Perspective on social sciences Essay

Social science and social theory were to liberate the thoughts and thus aid social groups in deposing domination and repression. This formation of critical social science and social theory stands stridently at odds with the moderate positivist professionalism of mainstream sociology in the sense that it envisions human liberation as the highest rationale of intellectual commotion. Habermas has taken pains to argue that this decisive outset of social science and social theory is not opposed to what he calls the project of modernity, which commenced with the Enlightenment. Certainly, he contends that critical social theory, conceived as communication theory and ethics, accomplishes the project of modernity by further rationalizing social life in ways estimated but not completed by Weber. Though Habermas needlessly divides instrumental and communicative rationalities, much as Kant did, thus limiting the field of human liberation to communicative projects but leaving technology and its dominion of nature untouched, he masterfully reconceptualizes Marxism in ways that provide it empirical and political purchase in the present. Far from deserting modernism and modernity, Habermas argues that Marx was a modernist and that the project of modernity can simply be fulfilled in a Marxist way, although in terms that deviate drastically from the Marxist and Marxist-Leninist frameworks of the early twentieth century. Habermas supports the Enlightenment’s program of common liberation and rationality through (a reconceptualized) Marx. This assurance to the Enlightenment and modernity must absolve critical social theorists such as Habermas of the inductions that they are Luddites, antimodernists, anarchists. Far from inadequate academic life, including social science and social theory, to be abridged to didactic political education, Habermas wants to open academic life to genuine debate and diversity, which he theorizes in terms of his communicative ethics. though the characterization of left academics as bigoted supporters of â€Å"political correctness† is largely hype promulgated by eighties neoconservatives, many critical social theorists are especially hard on purveyors of multicultural identity politics, particularly those who derive from postmodernism. Professionalized liberal positivists, including numerous U. S. sociologists, conflate all theoretical heterodoxies, particularly where they argue that one should defend the disciplinary project of sociology against the wild men and women who would â€Å"politicize† sociology and social science at a time when reputable sociologists are fighting a rearguard action against budget slashing university administrators. These professional positivists marginalize all thought and research that do not kowtow to the strictures of supposedly value-free quantitative empiricism. This obliterates nuances: Habermas (1987a) takes postmodernism to task; Fraser (1989) urges Habermas and Foucault to be more overtly feminist. It also fails to distinguish that critical social theories hold rigorous analysis, objectivity, professionalism, even disciplinarily. Critical social theorists vary from professionalized positivist sociologists most sharply in arguing that the aim of knowledge is illumination and hence liberation, not the development of personal professional credentials or the progression of one’s discipline. Critical social theorists snub Comte’s model of the hard sciences as a symbol for their own work as they believe that positivism eradicated historicity and hence the possibility of large-scale structural change. Critical social theorists are unashamed to be seen as political, particularly when they agree with Horkheimer and Adorno in Dialectic of Enlightenment that the charade of freedom from values is the most invincible value position of all, taking up the present as a plenitude of social being and contradicting utopia. It is sarcastic that positivist sociologists in the United States who attempt to establish their discipline in the university by stressing its resemblance to the hard sciences, including both positivist quantitative process and grant-worthiness, also argue that sociology should eloquent what are called policy implications, particularly now that a Democrat is president. Applied sociology proposes state policies in realms such as health care, aging, social welfare, work and family, and crime. Positivist sociologists assert that sociology pays its own way by underlining its real-world applications suggested in the narrow technical analyses propagating in the journals. numerous positivist journal articles formulaically conclude with short excursuses on â€Å"policy† in this sense. This segue into policy investigation both legitimizes sociology in the state apparatus (e. g. , public research universities) and helps sociology evade a more fundamental politics the notion of policy implying moderate amelioration of social problems and not methodical change. As well, the discussion of policy enhances the grant-worthiness of sociological research, which has turn into a trademark of academic professional legitimacy. Thus, the shift from the sociological to the social on the part of significant social theorists who support interdisciplinary is intimidating to disciplinary positivists because it augurs the politicization of social theory and social science at a time while some believe sociology should put definitive distance between itself and its sixties engagements. The tired stand-up line of sociology’s critics that sociology alliterates with socialism, social work, and the sixties symbolizes this preoccupation with the legitimating of sociological disciplinarity and explains why interdisciplinary approaches to the social are so threatening. The interpretive disciplines and sociology are moving in contradictory directions: Interpretive scholars and cultural critics acclaim the politicization of the canon, whereas positivist sociologists want to subjugate politics. Leading U. S. literary programs such as Duke’s are awash in these new theoretical movements that hassle the obsolescence of canonical approaches to the study of literature and culture. In these venues, politics is not a afflict to be eliminated but an opening to new ways of seeing, writing, and teaching. Suddenly, with the invasion of these new European and feminist influences, traditional approaches to â€Å"representation† (depicting the world) in both art and criticism could no longer be trusted. Postmodern fictional and cultural theory blossomed in a post representational era, specifically the opposite of what was happening in positivist sociology, which clings more obstinately than ever to representation -achieved through quantitative method as the supposed deliverance of an embattled discipline. Not all versions of postmodernism are eligible as either social or critical theory. However, as Fredric Jameson (1991) has argued in Postmodernism, or, the Cultural Logic of Late Capitalism, postmodern theory has the potential for new forms of neo-Marxist social and cultural investigation pertinent to late capitalism. Foucault, Jean Baudrillard, and Derrida make means for critical theories of the social, especially where they make possible the critical analysis of cultural discourses and practices that intimately resemble and deepen the Frankfurt School’s analysis of the culture industry. And postmodern theory has made it nearly unattainable for people in interpretive and cultural disciplines to approach texts as if the â€Å"meanings† of those texts could be revealed to presuppositionless, really positivist readings. Postmodernists drive home the point that reading is itself a form of writing, of argument, in the sense that it fills in gaps and contradictions in texts through strong literary practices of imagination and interrogation. Few today can approach the act of reading or writing concerning reading in the same secure way that they could read texts before postmodernism, before representation was quizzed as a severely theoretical and political project in its own right. A momentous number of sociologists and anthropologists (Richardson [1988, 1990a, 1990b, 1991a, 1991b], Denzin [1986, 1989, 1990, 1991c], Aronowitz [1990], Behar and Gordon [1995]) draw from postmodernism in reformulating both social science research and theory in light of postmodernism’s influential challenge to positivist theories of representation, writing, and reading. However, it is clear that most American sociologists and others in neighboring social science disciplines not only distrust but deplore the postmodern turn for its alleged antagonism to science and hence objectivity, rigor, disciplinary legitimacy, quantitative method, and grant-worthiness. The new scholarship in humanities departments enlightens critical social science in that it reads cultural discourses and practices as ideological and commoditized and helps formulate more general hypothetical understandings of society. For example, the work of Jameson, the author of numerous vital books on cultural and social theory from Marxism and Form (1971) to Postmodernism, or, the Cultural Logic of Late Capitalism (1991), clearly puts in to the project of critical social theory. Jameson is in dialogue with critical theorists and postmodern theorists. He develops a postmodern Marxism that learns from but does not give in to the detotalizing implications of postmodern theory. Although many of Jameson’s references are from culture and literature whereas Habermas’s, for example, are from social theory and communication theory Jameson in effect â€Å"does† postmodern critical theory in his readings of works of literature, architecture, music, painting, and philosophy, presenting not simply close textual analysis but expanding his readings into oversimplifications quite similar to those of postmodern social theorists (e. . , Aronowitz, Luke) in social science disciplines. Cultural studies is intrinsically a pandisciplinary project in the sense that culture, as the Birmingham theorists conceptualized it, is not simply found in everyday life as well as in museums and concert halls but also disquiets a wide range of disciplines in the human sciences or human studies, broadly conceived. Almost no social science or humanities discipline falls outside of the potential purview of cultural studies, which could be seen as a theoretical perspective, a discipline, a corpus of writing, and even an investigative methodology. Like the Unit for Criticism at the University of Illinois, in which Cary Nelson, Lawrence Grossberg, and Norman Denzin had part-time faculty appointments, the CCCS at the University of Birmingham has brought together scholars from a variety of disciplines. Like interdisciplinary projects such as cognitive science, cultural studies is a perceptible interdisciplinary project collecting scholars who believe they cannot practice their interests in cultural studies within their home disciplines or who want to claim an individuality somewhat diverse from their disciplinary identities. By and large, scholars in humanities departments have been better able to do and teach cultural studies within their home disciplines, particularly where their home disciplines have embraced the new postcanonical, postcolonial, feminist scholarship. Social scientists have had a greater tendency to identify their interest in cultural studies outside of their disciplines proper, many of which have been indisposed to abandon their relatively narrow concepts of culture in favor of a more inclusive one or do not acknowledge the need to practice the study of culture outside of a discipline for which the study of culture has always been central, such as sociology and anthropology. This distinction between the ways that humanists and social scientists build up their identities, affiliations, and academic practices as cultural studies scholars is also replicated in their respective attitudes toward the matter of politicization. Although most scholars around the campus who do cultural studies are leftist and feminist, social scientists lean to position cultural studies as an empirical and theoretical contribution without close ties to politics, therefore legitimizing their work within fundamentally empiricist and objectivist disciplines. Humanists lean to embrace their close ties to politics, as the Birmingham scholars did, even arguing that curricular politics, including the politics of the norm and the resist to define and implement multiculturalism, is an important place for social change today. Cultural studies increasingly splits into politicized and apolitical camps, through the former group deriving from Marxist cultural theory and joining the influences of the Birmingham School, feminism, and Baudrillard. The latter group includes scholars who do not view cultural studies as a political project but somewhat as an occasion for deepening their own disciplines or working across disciplines. Much work on popular culture, such as that of the Bowling Green group mentioned, comes from this second group. Humanists are more probable than social scientists to belong to the first group. This is satirical in that left-wing and feminist cultural studies grew out of Marxist social and cultural theory and only later were modified by humanists such as Jameson to their own projects. In this sense, critical social theorists involved in culture tend to cluster in humanities programs, or if they work in social science departments, they are typically isolated among their colleagues. It is much more common to find gathers of culturally oriented critical social theorists outside the social sciences, for instance, in English and comparative literature departments and programs. Though these comparative literature students and faculty are more obviously and blatantly politicized than most of my erstwhile colleagues and students, they approach society through the text. This peculiarity is far from absolute. Nevertheless, much of the best critical social science and social theory is being done in humanities disciplines. Sociology, for instance, sought greater institutional authenticity by attempting to imitate and integrate the methods of the natural sciences. Disciplines such as English, comparative literature, women’s studies, and media studies were concerned with culture as well as politics and thus were usual gathering points for faculty and students interested in the politics of culture. PART 2 Modern-day slavery breaches the basic right of all persons to life, freedom and the security of the person, and to be liberated from slavery in all its types. It weakens the rights of a child to grow in the protecting environment of a family and to be liberated from sexual maltreatment and abuse. Migration is some what Modern-day slavery that has become a main concern of government officials, political leaders, policymakers, and scholars, and many books and journal articles have been published on a diversity of topics related to migration comprising cultural change (Sowell, 1996), health (Loue, 1998), law (Weiner, 1995), mental health (Marsella, Bornemann, Ekblad, & Orley, 1994), population movements and demographics, politics, urbanization, and the survival of human society. The International Organization for Migration (IOM) is conceivably the most noticeable international organization concerned with migration. However, the International Federation of Red Cross and Red Crescent Societies, the UN High Commission for Refugees (UNHCR), and the World Council of Churches, Refugees and Migration Services also have high visibility as policy, service, and research agencies. Other private agencies that have high visibility include Amnesty International, International Rescue Committee, Doctors Without Borders, Human Rights Watch, and the U. S. Committee on Refugees.

Comparison of Public and Private Banks

A â€Å"SUMMER TRAINING† PROJECT REPORT ON COMPARATIVE STUDY BETWEEN PRIVATE SECTOR BANKS ANP PUBLIC SECTOR BANKS Submitted To: PUNJAB TECHNICAL UNIVERSITY,JALANDHAR MASTER OF BUSINESS ADMINISTRATION(MBA) SESSION(2007-09) CT INSTITUTE OF ENGINEERING,MANAGEMENT & TECHNOLOGY,JALANDHAR (SHAHPUR CHAMPUS) PREFACE Someone has rightly said that practical experience is for better and closer to the real world then mere theoretical exposure.The practical experience helps the students view the real world closely, which in turn widely influences their perceptions and argument their understanding of the real situation. Research work constitutes the backbone of any management education programme. A management student has to do research work quite frequently during his entire span. The research work entitle â€Å"COMPARATIVE STUDY BETWEEN PRIVATE SECTOR BANKS AND PUBLIC SECTOR BANKS† aims to analyze various services provided by private sector banks and public sector banks for this pu rpose Pathankot city have been chosen.ACKNOWLEDGEMENT I feel immense pleasure to give the credit of my summer training project work not only to one individual effort of all those who concern with it. I want to thanks to all those individual who guided me to move on the track. The summer training project entitled â€Å"COMPARATIVE STUDY BETWEEN PRIVATE SECTOR AND PUBLIC SECTOR BANKS† I am gratefully indebted to Mr. Davinder Singh for providing me all the necessary help and required guideline for the completion of my project and also for the valuable time that he gave me from his scdedule. Neha Kapoor TABLE OF CONTENTS |CHAPTER NO. PARTICULARS |PAGE NO. | | 1 |INTRODUCTION OF THE STUDY | 1-23 | | 2 |OBJECTIVES OF THE STUDY | 24-25 | | 3 | 3. 1 RESEARCH METHODOLOGY | 26-36 | | | | | | |3. LIMITATIONS OF THE STUDY | | | | |37 | | 4 |DATA ANALYSIS AND ITS INTERPRETATION | 38-46 | | 5 |FINDING OF THE STUDY | 47-50 | | 6 |SUGGESTIONS 51-54 | | 7 |CONCLUSION | 55-56 | | 8 |BIBLIO GRAPHY | 57-58 | | 9 |ANNEXURE | 59-62 | Introduction The world of banking has assumed a new dimension at dawn of the 21st century with the advent of tech banking, thereby lending the industry a stamp of universality.In general, banking may be classified as retail and corporate banking. Retail banking, which is designed to meet the requirement of individual customers and encourage their savings, includes payment of utility bills, consumer loans, credit cards, checking account and the like. Corporate banking, on the other hand, caters to the need of corporate customers like bills discounting, opening letters of credit, managing cash, etc. Metamorphic changes took place in the Indian financial system during the eighties and nineties consequent upon deregulation and liberalization of economic policies of the government.India began shaping up its economy and earmarked ambitious plan for economic growth. Consequently, a sea change in money and capital markets took place. Application of marketing concept in the banking sector was introduced to enhance the customer satisfaction the policy of privatization of banking services aims at encouraging the competition in banking sector and introduction of financial services. Consequently, services such as Demat, Internet banking, Portfolio Management, Venture capital, etc, came into existence to cater to the needs of public.An important agenda for every banker today is greater operational efficiency and customer satisfaction. The mew watchword for the bank is pretty ambitious: customer delight. The introduction to the marketing concept to banking sectors can be traced back to American Banking Association Conference of 1958. Banks marketing can be defined as the part of management activity, which seems to direct the flow of banking services profitability to the customers. The marketing concept basically requires that there should be thorough understanding of customer need and to learn about market it operates in.Further the market is segmented so as to understand the requirement of the customer at a profit to the banks. DEFINITION OF BANK The Oxford dictionary defines the Bank as, â€Å"An establishment for the custody of money, which it pays out, on a customer’s order. † According to Whitehead, â€Å" A Bank is defined as an institution which collects surplus funds from the public, safeguards them, and makes them available to the true owner when required and also lends sums be their true owners to those who are in need of funds and can provide security. † Banking Company in India has been defined in the Banking Companies act 1949, One which transacts the business of banking which means the accepting, for the purpose of lending or investment of the deposits of money from the public, repayable on demand, or otherwise and withdraw able be cheque, draft, order or otherwise. † The banking system is an integral subsystem of the financial system. It represents an important channel of collecting small savings form the households and lending it to the corporate sector. The Indian banking system has Reserve Bank of India (RBI) as the apex body for all matters relating to the banking system. It is the central Bank of India.It is also known as the Banker To All Other Banks. EVOLUTION OF INDIAN BANKING Ancient banking system of India constituted of indigenous bankers. They have been carrying on their age-old banking operations in different parts of the country under different names. The modern age of banking constitutes the fundamental basis of economic growth. The term Bank is being used since long time but there is no clear conception regarding its beginning. According to the viewpoint, in good old days. Italian money leaders were known as â€Å"Banchi† because they kept a special type of table to transact their business.IMPORTANCE OF BANKS Today banks have become a part and parcel of Kotak Bank's life. There was a time when dwellers of the city alone coul d enjoy their services. Now banks offer access to even a common man and their activities extend to areas hitherto untouched. Banks cater to the needs of agriculturalists, industrialists, traders and to all the other sections of the society. In modern age, the banking constitutes the fundamental basis of economic growth. Thus, they accelerate the economic growth of a country and steer the wheels of the economy towards its goals of â€Å"self reliance in all fields†.It naturally arouses Kotak Bank's interest in knowing more about the ‘Bank’ and the various men and the activities connected with it. Indian Banking System Banking in India has its origin as early as the Vedic period. It was believed that transition from money lending to banking must have occurred even before Manu, The great Hindu Jurist, who has devoted a section of his work to deposit advance and laid down rules relating to rates of interest. During the Mogul period, the indigeneousBankers played a ve ry important role in lending money financing foreign trade and commerce.During the days of East India Company, it was turn over the agency houses to carry on the business. â€Å"The General Bank of India† was the first to join sector in the year 1786. The others that followed were the Bank of Hindustan and the Bengal bank. The bank of Hindustan is reported to have continued till 1906 while the other two failed in the meantime. In the first half of the 19th century the East India Company established three banks: 1. Bank of Bengal (1809). 2. Bank of Bombay (1840). 3. Bank of Madras (1843. These three banks are also known as Presidency Banks were independent units and functioned well.These three banks were amalgamated in 1920 and Imperial Bank of India was established on 27th january1921, which started as private shareholders banks, mostly Europeans shareholders, with the passing of time Imperial bank was taken over by the newly constituted State bank of India act in1955. In 186 5 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up.Reserve Bank of India came in 1935. On July, 1969, 14 major banks of India were nationalized and on 15th April, 1980 six more commercial private banks were also taken over by the government. Reserve Bank of India The Banking system is an integral sub-system of the financial system. It represents an important channel of collecting small savings from the households and lending it to the corporate sector. The Indian banking system has The Reserve Bank of India (RBI) as the apex body from all matters relating to the banking system. It is the â€Å"Central Bank† of India and act as the banker to all other banks.Functions of RBI: †¢ Currency issuing authority †¢ Banker to the government. †¢ B anker to other Bank. †¢ Framing of monetary policy. †¢ Exchange control. †¢ Custodian to foreign exchange and gold reserves. †¢ Development activities. †¢ Research and development in the banking sector. CLASSIFICATION OF BANKS On the basis of Ownership PUBLIC SECTOR BANKS Public sector banks are those banks that are owned by the government. The government owns these banks. In India 20 banks were nationalized in 1969 and 1980 respectively. Social welfare is there main objective. PRIVATE SECTOR BANKSThese banks are those banks that are owned and run by private sector. An individual has control over these banks in proportion to the shares of the banks held by him. CO-OPERATIVE BANKS These are those banks that are jointly run by a group of individuals. Each individual has an equal share in these banks. Its shareholders manage the affairs of the bank. According to the Law SCHEDULED BANK Schedule banks are the banks, which are included in the second schedule of th e banking regulation act 1965. According to this schedule bank: 1. Must have paid-up capital and reserve of not less than Rs500, 000. . Must also satisfy the RBI that its affairs are not conducted in a manner Determinate to the interest of its depositors. Schedule banks are sub-divided as:- a) State co-operative banks b) Commercial banks NON-SCHEDULED BANKS Non -schedule banks are the banks, which are not included in the second schedule of the banking regulation act 1965. It means they do not satisfy the conditions lay down by that schedule. These are the banks having paid up capital, less than Rs. 5Lakhs. They are further classified as follows:- A. Central Co-operative banks and Primary Credit Societies.B. Commercial banks According to Function COMMERCIAL BANKS These are the banks that do banking business to earn profit. These banks make loans for short to business and in the process create money. Credit creation is the main function of these banks. FOREIGN BANKS These are those ba nks that are incorporated by foreign company. They have set up their branches in India. These banks have their head offices in foreign countries. Their principle function is to make credit arrangement or the export and the import of the country and these banks deals in foreign exchange. INDUSTRIAL BANKSIndustrial banks are those banks that offer long term and medium term loan to the industries and also work for their development. These banks help industries in sale of their shares, debentures and bonds. They give loan to the industries for the purchase of land and machinery. AGRICULTURAL BANKS Agricultural banks are those banks that give credit to agricultural sector of the economy. SAVING BANKS The principle function of these banks is to collect small savings across the country and put them to the productive use. In India department of post office functions a savings banks. CENTRAL BANKCentral Bank is the apex bank of the banking system of the country. It issues currency notes and acts a banker's bank. Economic stability is the principle function of this bank. In short, it regulates and controls the banking system of the country. RBI is the Central Bank of India. PRIVATIZATION OF INDIAN BANKING For the public sector banks, the era of bumper profit is over. For much of the last decade the process of collaborated financial liberalization had cleared up the Bank’s balance sheet enabling them to with stand increased competition, global financing, turmoil and even unprotected industrial slow down.But the cycle of liberalization has run its full course. Now it is the time for the big structural leap, rationalization, mergers, and privatization. Unless the banks undertake these fundamental changes, their profit will stay under pressure. There are twp areas of competitions which banking industry is facing internationally and nationally. In the pre-liberalization era, Indian banks could grow in a closed economy but the banking sector opened up for private compe tition. It is possible that private banks could become dominant players even within India.It has been recorded a rapid rise of the new private sector banks and it has tracked the transformation of the public sector banks as they grapple with the changes of financial deregulation. Use of ATM cards, Internet Banking, Phone Banking, Mobile Banking are the new innovative channels of banking which are being widely used as they result in saving both time and money which are two essential things that every one is short of and is running to catch hold of them. Moreover private sector banks are aligning its infrastructures, marketing quality and technology to build deep commitment in building consumer and retail banking.The main focus of these banks is on innovative range of services or products. STRUCTURE OF BANKING SYSTEM Different countries of the world have different types of banking systems. However, commercial banking had grown under all these banking systems. To understand the structu re of banking system, let us take up various types of banking systems one by one. These types are: (1) UNIT BANKING Unit Banking originated in the United State of America. It grew in the United States of America. As a counter part of independent or industrial units. An independent unit bank is a corporation that operates one office and that is not related to other banks through either ownership or control. Shaper, Solomon and White. Thus under unit banking, a single bank is a complete organization in itself having its own management. The scale of operation is small and the area is restricted to a locality only. Unit banking is localized banking and is much more responsive to the needs of the locality. It has better understanding of the local problems and conditions, which helps it to cater to the needs of the area in a better way.The staff of the unit bank is generally local and is in a better position to determine the standing or desirability of the customers. The failure of the un it bank will not endanger the banking system and economy. It is free from the difficulties and diseconomies of large scale operations. It will not drain out the financial resources of villages and small towns to big industrial centers and will ensure a balanced growth. (2) BRANCH BANKING: Economic and Managerial problems faced by the unit banks let to the emergence of banking system. Now, This the most popular and important banking system.In branch banking, a bank has a large network of branches scattered all over the country. Branch banking developed in England. Subsequently most of the countries of the world adopted the system. In terms of branches, the State Bank of India has emerged as one of the largest banks in the world. As under the system the resources of a number of branches get pooled under the same management, any individual branch is in a better position to face excessive withdrawals by the customers. It facilitates diversification of activities because the area covered by the branches is generally widespread.Under the system branches can operate without keeping large idle cash reserves. It becomes possible for the bank to hire the services of competent and professionally qualified managers, capable of understanding the handling technical problems and complex situations. The cost of remitting or transferring funds from one place to another works out to be less. The staff stays at a branch only for a limited period, so the chances of objective decision making in the branch banking are high. Branch Banking tends to bring homogeneity in the prevailing Interest Rates as it increases the mobility of resources from one place to another.It is easier for the Central Bank to exercise Control. It will communicate only with a few Registered /Head Offices of the Banks and not with each individual branch. In this system there more safety and liquidity of funds. The choice of securities and investments is larger. Branch banking makes complete banking services a vailable to the smallest communities. The branches in small localities can be initially operated at loss in expectation of future gains. The comparative study of unit banking and branch banking is a case of small scale banking versus large scale banking. It is evident that the scale is clearly titled towards branch banking.With the growth of large scale business it is no wonder that the trend is almost every country towards the branch banking i. e. big banks with a network of branches all over the country. Even in the U. S. A. The birthplace of unit banking. The Bank of America has now more than 500 branches in the state of California itself. (3) CHAIN BANKING : Shaper, Solomon and White have defined Chain Banking as â€Å"An arrangements by which two or more banks –each of which retains its identity, capital and personnel –are brought under common control by any device other than a Holding Company. † Under the system there is pooling of resources.Chain banking overcomes certain limitations of unit banking. But the system suffers from certain limitations of its own. There may be a lack of co-ordination, proper control etc. The system is inflexible. (4) GROUP BANKING : It is similar to Chain Banking, the difference being that under Group Banking two or more banks are brought under the control of the same management through a Holding Company. Both the systems aim at gaining the advantages of large scale operations. The banks are able to pool their resources in case of emergency or when large amount of cash is required to meet the loan requirements of the customer.The advantages and disadvantages of both the systems are similar. Both the systems developed in the United State of America as a result of attempts to overcome the difficulties or limitations of unit banking. (5) CORRESPONDENT BANKING: Under Correspondent banking, small banks serving local communities hold deposits with joint banks serving in big cities. This kind of banking is prev alent in U. S. A. The correspondent banks perform two important services of outstation cheque clearing and loan participation for the respondent banks while they benefit for the deposit funds of respondent banks.A) COMMERCIAL BANKS [pic] PRIMARY FUNCTIONS : 1) Accepting of Deposits : A bank accepts deposits from the public. People can deposit their cash balances in either of the following accounts to their convenience:- a. Fixed or Time Deposit Account : Cash is deposited in this account for a fixed period. The depositor gets receipts for the amount deposited. It is called Fixed Deposit Receipt. The receipt indicates the name of the depositor, amount of deposit, rate of interest and the period of deposit. This receipt is not transferable.If the depositor stands in need of the amount before the expiry of fixed period, he can withdraw the same after paying the discount to the bank. b. Savings Account : This type of deposit suits to those who just want to keep their small savings in a bank and might need to withdraw them occasionally. Banks provide a certain rate of interest on the minimum balance kept by the depositor during the month. c. Current Account : This type of account is kept by the businessman who are required to withdraw money every new and then. Banks do not pay any interest on this account.Any sum or any number of withdrawals can be presented by such an account holder. 2) Advancing of Loans : The bank advances money in any one of the following ways. a. Overdraft Facilities : Customers of good trading are allowed to overdraw from their current account. But they have to pay interest on extra amount they have withdrawn. Overdrafts are allowed to provide temporary accommodation since the extra amount withdrawn is payable within a short period. b. Money at Call : It is the money lent for a very short period varying from 1 to 14 days.Such advances are usually made to other banks and financial institutions only. Money at call ensures liquidity. In the Inte rbank market it enables bank to make adjustment according to their liquidity requirements. c. Loans : Loans are granted by the banks on securities which can be easily disposed off in the market. When the bank has satisfied itself regarding the soundness of the party, a loan is advanced. d. Cash Credit : The Debtor is allowed to withdraw a certain amount on a given security. The debtor withdraws the amount within this limit, interest is charged by the bank on the amount actually withdrawn. . Discounting Bill of Exchange : It is another method of making advances by the banks. Under this method, bank give advance to their clients on the basis of their bills of exchange before the maturity of such bills. f. Investment in Government Securities : Purchasing of government securities by the banks tantamount to advancing loans by them to the Government. Banks prefer to buy government securities as these are considered to be the safest investment. For example : Indira Vikas Patra : It enables the banks to meet requirement of statutory liquidity ratio (SLR) ) Credit Creation :One of the main functions of banks these days is to create credit. Banks create credit by giving more loans than their cash reserves. Banks are able to create credit because the demand deposits i. e. a claim against the bank is accepted by the public in settlement of their debts. In this process the bank creates money. For this reason Prof. Sayers has called bank â€Å"the manufactures of money. † 4) Cheque system of Payment of Funds A cheque, a negotiable instrument, which in fact is a bill of exchange, drawn upon a banker, is the most popular credit instrument used by the client to make payments.Cheque system is the main credit instrument in the banking world. Although a cheque is not a legal tender money, the serves as a medium of exchange in a limited way as it is a negotiable instrument. Because of â€Å"clearing houses† and â€Å"clearing† operations of the banks, cheques can be and are used for transferring funds from one centre to another. In the modern days they can also be used for transferring funds from one country to another. SECONDARY FUNCTIONS Besides the above primary functions, banks also perform may secondary functions such as agency functions, general utility and social functions.A) Agency Functions Banks act as agents to their customers in different ways :- i) Collection and Payment of Credit and Other Instruments: The Commercial banks collect and pay cheques, bills of exchange, promissory notes, hundies, rent, interest etc. On behalf of their customers and also make payments of income tax, fees, insurance premium etc. on behalf of the customers. Customers can leave standing instructions with the banker for various periodic payments ensuring the regular payments and avoiding the trouble of performing it themselves. ii) Purchase and Sale of Securities : The modern ommercial banks also undertake the purchase and sale of various securities like shares, stocks, bonds units and debentures etc. On behalf of the customers, banks do not give any advice regarding the suitability or otherwise of a security but simply perform the functions of a broker. iii) Trustee and Executor : Banks also acts as trustees and executors of the property of their customers on their advice. Sometimes banks also undertake income tax services on behalf of the customers. iv) Remittance of Funds : The Commercial banks remit funds on behalf of clients from one place to another through cheques, drafts, mail transfers etc. ) Representation and Correspondence : Sometimes commercial banks acts as representatives or correspondents of the clients especially in handling various applications. For instance, passports and travel tickets, booking of vehicles, plots etc. vi) Billion Trading : In many countries, the commercial banks trade is billions like gold and silver. In Oct 1997, 8 banks including SBI, IOB, Canara Bank and Allahabad Bank have been allowed import of gold which has been put under open general licensed category. vii) Purchase and Sale of Foreign Exchange : Banks buy and sell foreign exchange, promoting international trade.This function is mainly discharged by foreign Exchange Banks. viii) Letter of References : Banks also give information about economic position of their customers to domestic and foreign traders and vice versa. B) GENERAL UTILITY SERVICES In addition to agency services, banks render many more utility services to the public. These services are :- i) Locker Facilities : Banks provide locker facilities to their customers. People can keep their valuables or important documents in these lockers. Their annual rent is very nominal. ii) Acting as a referee : It desired by the customers, the bank can be a referee i. . who could be referred by the third parties for seeking information regarding the financial position of the customers. The bank will acts as referee only and only if it is desired by the customer, o therwise the secrecy of a customers is account is maintained very carefully. iii) Issuing letters of credit : Bankers in a way by issuing letters of credit certify the credit worthiness of the customers. Letters of credit are very popular in foreign trade. iv) Acting as Underwriters : Banks also underwrite the securities issued by the Government and Corporate bodies for a commission.The name of bank as an underwriter encouraged investors to have faith in the security. v) Acting as information banks : Commercial banks also acts as â€Å"information† bureau as they collect the financial, economic and statistical data relating to industry, trade and commerce. HDFC Bank is providing information relating to NRI Schemes and commentaries of experts on development in the areas of finance through Internet. vi) Issuing Traveler’s cheques and credit cards : Banks have been rendering great service by issuing traveler’s cheques, which enable a person to travel without fear o f theft or loss of money.Now, some banks have started credit card system under which a credit card holder is allowed to avail credit from the listed outlets without any additional cost or effort. Thus, credit card holder need not carry or handle cash all the time. Now, international credit cards are joining hands with Indian Banks. vii) Issuing of gift cheques: Certain banks issue gift cheques of various denominations, e. g. Some Indian banks issue gift cheques f the denominations of Rs. 21, 31, 51 and 101 etc. They are generally issued free of charge. viii) Dealing in Foreign Exchange: Major branches of commercial banks also transact business of foreign exchange.Commercial banks are the main authorized dealers of foreign exchange in India. ix) Merchant banking Services: Commercial banks also render merchant banking services to the customers. They help in availing loans from non-banking financial institutions. x) Help in Transportation of Goods: Big businessmen or industrialists aft er consigning goods to their retailers send the Railway Receipt (Consignment Note) to the bank. List of Public Sector Banks o State Bank of Bikaner & Jaipur o State Bank of Hyderabad o State Bank of Indore o State Bank of Mysore o State Bank of Saurastra State Bank of Travancore Other Nationalised banks are: †¢ Allahabad Bank †¢ Andhra Bank †¢ Bank of Baroda †¢ Bank of India †¢ Bank of Maharastra †¢ Canara Bank †¢ Central Bank of India †¢ Corporation Bank †¢ Dena Bank †¢ Indian Bank †¢ Indian Overseas Bank †¢ Oriental Bank of Commerce †¢ Punjab & Sind Bank †¢ Punjab National Bank †¢ Syndicate Bank †¢ UCO Bank †¢ Union Bank of India †¢ United Bank of India †¢ Vijaya Bank List of Private Sector Bank †¢ Bank of Punjab †¢ Bank of Rajasthan †¢ Catholic Syrian Bank †¢ Centurion Bank †¢ City Union Bank †¢ Dhanalakshmi Bank †¢ Development Credit Bank †¢ Fede ral Bank †¢ HDFC Bank ICICI Bank †¢ IDBI Bank †¢ IndusInd Bank †¢ ING Vysya Bank †¢ Jammu & Kashmir Bank †¢ Karnataka Bank †¢ Karur Vysya Bank †¢ Laxmi Vilas Bank †¢ South Indian Bank †¢ United Western Bank †¢ UTI Bank List of Foreign Banks in India †¢ ABN-AMRO Bank †¢ Abu Dhabi Commercial Bank †¢ Bank of Ceylon †¢ BNP Paribas Bank †¢ Citi Bank †¢ China Trust Commercial Bank †¢ Deutsche Bank †¢ HSBC †¢ JPMorgan Chase Bank †¢ Standard Chartered Bank †¢ Scotia Bank †¢ Taib Bank Upcoming Foreign Banks In India [pic] |[pic] | By 2009 few more names is going to be added in the list of foreign banks in India.This is as an aftermath of the sudden interest shown by Reserve Bank of India paving roadmap for foreign banks in India greater freedom in India. Among them is the world's best private bank by Euro Money magazine, Switzerland's UBS. The following are the list of foreign b anks going to set up business in India †¢ Royal Bank of Scotland †¢ Switzerland's UBS †¢ US-based GE Capital †¢ Credit Suisse Group †¢ Industrial and Commercial Bank of China Merrill Lynch is having a joint venture in Indian investment banking space — DSP Merrill Lynch. Goldman Sachs holds stakes in Kotak Mahindra arms.GE Capital is also having a wide presence in consumer finance through GE Capital India. India's GDP is seen growing at a robust pace of around 7% over the next few years, throwing up opportunities for the banking sector to profit from. The credit of banks has risen by over 25% in 2004-05 and the growth momentum is expected to continue over the next four to five years. Participation in the growth curve of the Indian economy in the next four years will provide foreign banks a launch pad for greater business expansion when they get more freedom after April 2009. Objectives of the StudyThis study has been conducted with a variety of importa nt objectives in mind. The following provides us with the chief objectives that have tried to achieve through the study. The extent to which these objectives have been met could judged from the conclusions and suggestions, which appear in the later of this study. The Chief Objectives of this study are: 1. To find the bank sector that is largely availed by the customer. 2. To study the factors the factors influencing the choice of a bank for 3. availing services. 4. To find and compare the satisfaction level of customers in public sector 5. s well as in private sectors bank. 6. To study the problem faced by customer. 7. To get suggestions for improvement or change in the services of public and private sector banks. 8. To study what do people expect in the new era of banking. RESEARCH METHODOLOGY Research is an art of scientific investigation. In other word research is a scientific and systematic search for pertinent information on a specific topic. The logic behind taking research me thodology into consideration is that one can have knowledge about the method and procedure adopted for achievement of objectives of the project.With the adoption of this others can evaluate the results also. Its main aim is to keep the researchers on the right track. The methodology adopted for studying the objectives was surveying the saving account holders of District Jalandhar. So keeping in view the nature of requirements of the study to collect all the relevant information regarding the comparison of saving account of Centurion Bank of Punjab with other banks, direct personal interview method with structured questionnaire was adopted for the collection of primary data. Secondary data has been collected through the various magazines and newspapers and by surfing on Internet.And the guide in the organization was consulted at many times. SAMPLE DESIGN:-A sample design is a definite plan for obtaining a sample from a given population. It refers to the techniques or the procedure th e researcher would adopt in selecting items for the sample. Sample design may as well lay down the number of items to be included in the sample i. e. , the size of the sample. Sample design is determined before data are collected. Here we select the population as sample in our sample design. The selected respondents should be as representatives of the total population.POPULATION:- The persons holding saving account related to business class of District Jalandhar were taken into consideration. DATA COLLECTION Data was collected by using main two methods i. e primary data and secondary data. PRIMARY DATA Primary data is the data which is used or collected for first time and it is not used by anyone in the past. There are number of sources of primary data from which the information can be collected. We choose the following resources for our research. QUESTIONNAIRE:-This method of data collection is quite popular, particular in case of big enquiries.Here in our research we set 15 simple questions and request the respondents to answer these questions with correct information. RESPONDENTS:-Respondents helps in creation of more accurate idea about our research. We personally meet the respondents inside and outside the banks. SECONDARY DATA Secondary data is the data which is available in readymade form and which is already used by people for some purposes. There may be various sources of secondary data such as-newspapers, magazines, journals, books, reports, documents and other published information.BANKS ANNUAL REPORTS:-Banks issues there annual reports to get the people informed with the profitability and growth of the bank. These annual reports helps us a lot to get the latest data and other related information for our research. It tells us about the increase or decrease in profits and other facilities. JOURNALS AND PUBLICATIONS OF DIFFERENT BANKS :- We also take into consideration the journals and publications issued by the bank at different times. we comes to kn ow about the Branches, ATM, locations and other useful information.MANUALS AND BROACHERS OF DIFFERENT BANKS:-We take the help of bank staff and other people who gives us deep information and data which may not be available at anywhere. They gives us there full co-operation. INTERNET:-We also take into consideration the internet facility with which we collect lot of latest information. SAMPLE PLAN : ? SAMPLE SIZE: Keeping in mind all the constraints the size of the sample of the study was selected as 80. ? SAMPLING UNIT:- Centurion Bank of Punjab Branch in Jalandhar city. Due to nature of study, we also visited various different banks ICICI, HDFC, SBI, PUNJAB NATIONAL BANK etc. f Jalandhar District. ? SAMPLING TECHNIQUE:- Stratified convenient sampling. All the saving account holders were taken into consideration. Research was conducted on clear assumptions that the respondents would give frank and fair answers in a pragmatic way and without any bias. ? SAMPLING DESCRIPTION:- In orde r to understand the nature and characteristics of various respondents in this study, the information was collected and analyzed according to their socio economic background which included the characteristic of their respondents like education, age marital status and monthly income.This description shows that respondents included in this survey belong to different backgrounds and this turn increase the scope of the study. PERSONAL DETAIL AGE |Particulars |%age of Respondent | |20-30 years |20% | |30-40 years |50% | |40-50 years 20% | |50-60 years |10% | [pic] Analysis & Interpretation: From the above study we find that nobody is below 20 age and 20% respondents are between 20-30 age group, 50% respondents are between 30-40 age group, 20% respondents is between 40-50 age group and 10% respondents are between 50-60 age group. SEX Particulars |No of Respondent |%age | |Male |70 |70% | |Female |30 |30% | |Total |100 |100% |Analysis: From the above result we come to know that out of 100, 62 respondents are male and 38 are female which is 62% and 38% are respectively. Interpretation: From the above data we conclude that most of our respondents are male. MARITAL STATUS Particulars |No of Respondent |%age | |Married |33 |33% | |Unmarried |67 |67% | |Total |100 100% | [pic] Analysis: From the above study we find that out of 100%, 33% respondents are married and 67% respondents are unmarried. Interpretation: Most of the respondents of our survey are Unmarried. Q4: HIGHEST EDUCATIONAL QUALIFICATION:- Particulars |No of Respondent |% age | |Matric |4 |4% | |Senior Secondary |14 |14% | |Graduate |46 |46% | |Post graduate | 36 |36% | | Total |100 |100% | [pic] Analysis: This analysis shows that out of 100 respondent, 46% respondents are graduate & professional, 36% respondents are post graduate, 14% respondents are senior secondary and 2% respondents are of Matric category. All the respondents of our survey are qualified. Interpretation: From the above data we conc lude that most of our respondents are Graduates & professional degree holders.OCCUPATION |Particulars |No of Respondent |%age of respondents | |Businessman | 32 |32% | | Government Employee | 28 |28% | | Student | 24 |24% | | Others |16 |16% |Analysis: From the above analysis it is clear that 32% respondents are doing their own business, 28% are employees and 16% respondents belong to other category And 24% of our respondents are students. Most of the respondents of our survey are Businessmen. Interpretation: From the Above data we conclude that most of our survey respondents are businessmen. DATA COLLECTION: Data was collected using two main methods: COLLECTION OF DATA LIMITATIONS OF THE STUDY Due to constraints of time and resources, the study is likely to suffer from certain limitations. Some of these are mentioned here under so that the findings of the study may be understood in a proper perspective. The limitations of the study are: Some of the respondents of the survey were un willing to share information. ? The research was carried out in a short period of 6 weeks . Therefore the sample size and other parameters were selected accordingly so as to finish the work within the given time frame. ? The information given by the respondents might be biased because some of them might not be interested to give correct information. ? The officials of the bank supported me a lot, but did not have sufficient time to make the points more clear. Analysis of Data collected 1. The respondents were asked about which banking sector’s services do their avail. Table1: banking sector’s services which the respondents avail. Banking sector |Number of respondents | |Public |32 | |Private |38 | |Both |30 | Graph 1: Banking Sector’s services which the respondents avails INTERTRETATION:-It was found that most of the respondents were availing services of private sectors banks while those of the public sector banks were less as compare to public sector 2. The res pondents were Asked about the type of account they have in the public sector as well as Private sector banks Table 2. 1 Number of type of account held in Public sectors banks Type of Accounts Name of Account |Savings |Current |Demat |Fixed deposits |Salary | |Total no of respondents |50 |15 |6 |15 |14 | [pic] Graph 2. 1 :- Number of type of accounts held in Public sector banks Analysis: 50% people own Saving Account, 15% own Current account, 6% demat,15% fixed deposits account and 14% salary Account Interpretation: It was found that in case of public sector banks, maximum number of account holders owns Saving Account. After Saving account most prefer account is salary account prefer by people and the next priority goes to fixed deposits Accounts. 3. The basic purpose of this question was to know the most preferred bank. Table 3. Number of respondents preferring different banks Names of Banks |Number of respondents | |ICICI Bank |24 | |HDFC Bank |22 | |State Bank Group |20 | |Pu njab National Bank |28 | |Punjab And Sind Bank |6 | Analysis: From above graph, it is seen that 28% stake of the respondents follows to Punjab National bank followed byICICI bank. It is the bank which provide 12-hour banking. also the ATM machine is more as compared to the other private sector banks. Interpretation : From the above graph, it is seen that Punjab national is the most preferred bank as compared to other Public and Private sector Banks. The reason for preference of public sector bank is the minimum amount of deposit for saving account. 4. The aim to ask this question was to know he reasons for their preference in different banks :- Table 4:- Reason for account in different banks Reasons |No of respondents | |Friendly Behaviour of the Staff |16 | |Reliability/trust |14 | |Quick and fast services |55 | |Location |15 | Graph 4:-Reasons for account in different banks Inpretation: By analyzing this graph, we can conclude that most of the people is influenced by the qui ck and speedy services provided by the bank and location is given less preference than others. 5. The respondents were asked about the facilities they were availing in public as well as private sector banks :- Table 5. Number of people availing different facilities at public sector banks: |Facilities Availed |No of respondents | |ATM/Debit card |60 | |Demat |5 | |Internet/Mobile/Phone Banking |15 | |Insurance |20 | [pic]Graph 5. 1: Number of people availing different facilities at public sector banks Interpretation: From the above graph, it was found that was availed by most of the people at public sector banks was that of ATM/Debit cards which hold 90% of respondents. It is clearly observed by the graph that Insurance are neck to neck holding 20% of respondent each. 6. The purpose of this question is to know the satisfaction level they were having with their banks overall performance:- Public sector banks Table 6. 1 Satisfaction level of the customers regarding the facilities availed from the public sector banks |Level of Satisfaction |No. f respondents |%age | |Excellent |12 |24% | |Good |21 |42% | |Very Good |27 |54% | Graph 6. 1 Satisfaction level of Customers regarding the facilities availed from the public sector banks. Analysis: It was found that in case of public sectors banks, 18% of the respondents were highly satisfied ranked excellent from the products and services availed by them. 44% were just satisfied given very good and 38% have moderate view. Interpretation: People have mixed type of view regarding public sector banks. 7.The respondents were asked that if they have given option, would they like to shift from the present banks:- Table 7 Number of customers ready to shift from present bank. [pic] Graph 7:- Number of customers ready to shift from their present bank or not. Interpretation: From this above Graph, we can conclude that the number of respondents ready to shift from their present bank is 28% while 70% customers seems to be sat isfied from their bank and hence willing to shift from their present bank to other. 8. The aim to ask this question was to know whether the respondents faces any problem regarding the services provided them by their preferred bank :- Table 8 Problem faced by customers. Types of problem |No of respondents | |Time consuming |10 | |Introduction |8 | |Reference |15 | |Too many formalities |6 | |No facility of photograph instantly |4 | |No problem |6 | [pic] Interpretation: It was found that most of the respondents are facing problem of reference. Respondents also find that the time and too much formalities also cause problem in banks. FINDINGS OF THE STUDY More number of people have account with private banks. ? Majority of the respondents whether in public sectors or in private sector banks have savings account with banks. ? Number of problem faced by the people is more in public sector banks. ? People want a change in the behavior of the staff of the public sector banks. ? People are more satisfied form the private sector banks due to their better services provided by them in terms of speedy transactions, fully computerized facilities, more working hours (in case of ICICI bank, the number of working hour are 12), good investment Advisory services, efficient and co-operative staff, better approach to Customer Relationship Management. In private sector banks proper promotional activities should be taken up so as to make the population aware of the services provided by the banks even in rural areas. ? The facility that was availed by most of the people at public sector banks was that of ATM/Debit cards. The least availed facility was that of Demat account and foreign transfer of funds. ? The facility that was availed by most of the people at private sector banks was that of Internet/Phone banking by ATM/Debit card. ? Majority of respondents do not want to shift from their present bank. ? From the above study it is clear that private banks are providing better services than nationalized banks. 5% respondents favored that private banks are providing better services than nationalized banks while 5% respondents are not agree with it. ? From the above study it is clear that majority of the respondents said that the average balance requirement for operating their saving account is between 5000-10000. 20% said it is between 10000-20000 and remaining 5% said it is between 20000-50000 in private sector banks which as compared to Public sector bank is very high. ? 40% respondents said that the bank employees never pay any attention to them and 10% respondents said that their problems are not solved by bank executives. The remaining 50% respondents give a positive reaction in the favour of bank. 0% respondents favoured that their problems are solved by bank executives and 20% respondents said they are received with smile by bank executives. So there is a mix response. ? Majority of the respondents said that the average time taken for transactions i s between 25 to 50 minutes in their bank. 30% respondents said the average time taken for transaction is between 20-25 minutes, 20% said it is between 10 to 25 min. and remaining 10% said that the average time taken for transaction by their bank is 5 to 10 minutes. ? From the above study is clear that the banks do not organize any customer meets. All the 100% respondents said that their bank does not organize any customer's meets to resolve their problems.Customer satisfaction is the demand of time, so the banks should organize customer meets to resolve the problems of their customers. ? From the above study it is clear that majority of the respondents are ready to pay nominal charges for better services provided by private banks while 40% respondents are not ready to pay any nominal charges. ? The above study depicts that 60% respondent said that their bank updates them time to time about the latest facilities and remaining 40% said that their bank doesn't update them. [pic] SUGGES TIONS Based on the study conducted, There are some of the suggestions given by the customers of how the modern banking should be.These are the comment given by them about the improvement of the banking sector in India. ? Banks should obey the RBI norms and provide facilitiesas per the norms, which are not being followed by the banks. While the customer must be given prompt services and the bank officer should not have any fear on mind to provide the facilities as per RBI norms to the units going sick. ? Banks should increase the rate of saving account ? Banks should provide loan at the lower interest rate and education loans should be given with ease without much documentation. All the banks must provide loans against shares. ? Fair dealing with the customers. More contribution from the employee of the bank.The staff Should be co-operative, friendly and must be capable of understanding the problems of customers ? Internet banking facility must be made available in all the banks. ? P rompt dealing with permanent customers and speedy transaction without harassing the customers ? Each section of every bank should be computerized even in rural areas also. ? Real time gross settlement can play a very important role. ? More ATM coverage should be provided for the convenience of the customers. ? No limit on cash withdrawls on ATM cards. ? The bank should bring out new schemes at time-to-time so that more people can be attracted. Even some gifts and prizes may be offered to the customers for their retention. 24 hours banking should be induced so as to facilitate the customers who may not have a free time in the daytime. It will help in facing the competition more effectively. ? The charges for saving account opening are high, so they should also be reduced. ? Customers generally complain that full knowledge is not granted to them. Thus the bank should properly disclose the features of the product and services to the customers. Moreover door to door services can also be introduced by bank. ? The need of the customer should properly be understood so that customer feels satisfied. The relationship value should be maintained. ? The branch should promote cooperation and coordination among employees which help them in efficient working. Maintenance of proper hierarchy should be done. A good hierarchy set up can ensure better results with in the bank. Banking sector is improving by leaps but still it needs to be improved. Proper and efficient relationship staffs having knowledge for one stop banking, customer friendly atmosphere, and better rate of interest are need of the hour. the concept of privatization has overall improved the services in all the banks. Home banking will be order of the day. Recommendations For Public Sector Banks: †¢ Bank staff should be customer friendly and highly motivated to serve the normal customer. †¢ As far as possible, banks should reduce its documentation process while providing loans. Computerization should be done in banks at all level and the operators should de properly trained. †¢ Token system should be induced so as to minimize the waiting lines in the banks. †¢ Proper ambience in the banks can develop a healthy working culture. †¢ Quick services should be provided. For Private sector Banks †¢ 24 hours banking should be induced so as to facilitate the customers who may not have free time in the day time. It will help in facing the competition more effectively. †¢ More ATM coverage should be provided for the convenience of the customers. †¢ Customer care services should be provided by banks. CONCLUSIONThe customers now days are not only exposed of what type of service is being provided by banks in India but in the world as a whole. They expect much more than what is actually being provided. So the new coming banking sector has to provide and cater to all the needs of the customers otherwise it is difficult to survive in the competition coming up. They no t only expect the safety of money but also best ways to invest that money which need needs to be fulfilled. Banks need to have a better outlook towards to actually what customers are requiring. Entries of the private sector banks have made the competition tougher. If a bank is not functioning properly it is being closed. So it is difficult to face these types of conditions.Here a simple philosophy can work that customers are God and we need to follow this to survive and serve better. The banking sector is poised for explosive growth. In this, scenario, it is imperative that banks adopt technology at an aggressive Pace, if they wish to remain competitive. Mani Mamallan makes a case for banks to outsource their technology infrastructure requirement, thus enabling early adoption and increased efficiencies. In the prevailing scenario, a number of banks have adopt a new deployment strategy of infrastructure outsourcing, to lower the cost of service channels. As a result, other banks too will need to align their reinvented business models. The required changes at both the business and technology levels are enormous.In a highly competitive banking markets, early adopters are profiting from increased efficiencies. BIBLIOGRAPHY BOOKS: ? Kothari C. R. (1990) Research Methodology: Method and Techniques; Wishva Prakashan, New Delhi. ? Bodie. Z, Kane. A & Mracus. J : Essentials of Investments. ? Prof. E Gordon & Dr. K. Natrajan â€Å"Banking Theory Law and Practice†. ? â€Å"Indian financial System & Commercial Banking† by Khan Masood Ahmed ? â€Å"Banking in India† by P. N. Varshney WEBSITES: ? www. centurionbop. co. in ? www. pnbindia. com ? www. statebankofindia. com ? www. icicibank. com ? www. rbi. org. in ? www. iba. org. in ? www. knowledgestom. com ? www. igniter. com BROACHERS & PAMPHLETS Broachers and pamphlets of Saving A/c QUESTIONNAIRE â€Å"Comparative Study on public and private sector banks† Dear customer, We are the students of C. T. I. E. M. T. Shahpur, Jalandhar. We are undergoing the project entitled named â€Å"Comparative Study on public and Private sector banks† So by filling this questionnaire please helps us in completing our project. Q1. Which Sector bank do you have your account? Public (Private( Both ( Q2. In which bank do you have your Account? 1. 2. 3. 4. Q3. Which type of account do you have in the bank? Saving ( Current ( Demat ( F. D ( Salary (Q4 In Case you have yours Account in more than one a Bank which one is your most preferred bank (Give only one bank) Q5. Rank the selection criteria for opening account with bank? Brand Image (Services ( Location ( Charges ( Q6. Kindly rank the reasons for yours preference in this particular bank? Quick and fast services (Location ( Friendly Behavior ( Reliability ( Q7. Which facilities are you availing at your bank? Atm/Debit card ( Credit card ( Insurance ( Mobile Banking ( Q8. How often do you use debit card to shop? Occasionally(Never( Q9. How much Satisfied are you with your bank’s overall performance ? Excellent(Very Good(Good ( Q10. Any Specific services you expect from your bank ? Q11. If an option is given to you, would you like to shift from the present Bank? Yes ( No ( Q12. Do you face any problem regarding the services provided by your preferred bank? If Yes Q13. Would you like to give any suggestions for the better functioning of banks in these sectors? Public Sector Private sector 16. Any other suggestions please specify ? ____________________________________________________________ ____________________________________________________________ Thanks for your valuable time given to us .We assure you that the information provided by you will remain confidential. Thanks for your co-operation. PERSONAL DETAILS. NAME-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ AG E-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ GENDER-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. EDUCATION-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ADDRESS-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. PHONE NO. -†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦

Men an Endangered Species Essay Example | Topics and Well Written Essays - 1000 words

Men an Endangered Species - Essay Example This threatens the productivity of men in the near future if the trend continues. The major reason is that men are consuming a lot of estrogen from plastic liners of cans, some paints, and even soy-based foods (1). Another explanation for the threatened extinction of men is that there is lose of testosterone and a significant rise in estrogen as men age. When men start producing more estrogen, which is the main female sex hormone they are likely to become more feminine or womanly. On the contrary, as a woman age there is an equal fall of their hormones levels hence little or no major changes. The rise of estrogen levels and the falling testosterone in older men could also explain why there is a sudden attraction to members of their own sex even if it had not occurred before. This premise implicate that as older men become more feminine, there is an increase in susceptibility of the extinction of the male species (Parker, 2). Several studies also indicate that there is a threat for th e extinction of the Y chromosome, which majorly determines the male sex. These studies deem that the Y chromosome had approximately 1,400 genes on it three hundred million years ago, and presently it has only got 45 left (Perloe, 2). Possibly significant genes from the Y chromosome will adopt habitation on another chromosome (3). In the 1970s, scientists developed a method of separating X and Y-chromosomes from sperm. The assertion behind its development was to make couples naturally choose males (the Y chromosome). This trend however becomes the opposite since 2 to 1, selects baby girls over baby boys (Baehr, 2). However, the only reason why scientists are not sure if men are susceptible to... This paper analyzes in detail the various reasons as to why men are an endangered species. Some of the reasons that men are susceptible to extinction are scientific, while others are sociological. Scientific reasons, assert the possibility of gradual extinction of the male chromosomes, while the sociological reasons deem the loss of social roles. The major reason why men are an endangered species is that of loss of the reproductive power. Several studies indicate that men are increasingly having reduced sperm count due to various environmental toxins. The toxins that make men infertile include Teflon, pesticides, plastic, cosmetics and hormones found in food. In addition, some men, especially in many parts of Africa are vulnerable of loosing their reproductive potential due to taking illicit homemade brews. There has been extensive research and several debates concerning the susceptibility of extinction of the male species. Proponents of this premise assert that there is overwhelming evidence that support this connotation. These reasons include the gradual extinction of the Y chromosome, reduced sperm counts as well as rise in estrogen levels in older men. Other reasons include the loss of social and reproductive roles by men due to increased awareness of women and artificial forms or fertilization respectively. Moreover, other chemicals that mimic the effects of estrogen for instance 'Xeno-Oestrogens accelerate this susceptibility.' These chemicals are present in most of the common products that men use presently.

Instrumentation System Assignment Lab Report Example | Topics and Well Written Essays - 1000 words

Instrumentation System Assignment - Lab Report Example The movement is then transduced into an electrical output. Finally, the signal conditioning is needed, depending on sensor and type of application. The Bourdon tubes are example of the major types of sensing elements; they are sealed and deflect in response to any applied pressure. The Pressure gauge is a self-contained indicator used in converting the detected process pressure into proportional mechanical motion of the pointer. The pressure transducer might be a combination of the sensor element of the gauge with mechanical-to-pneumatic with a power supply or mechanical-to-electrical converter. The system might have a signal conditioner for converting the transducer signal into a proportional standardized output. Transducer’s accuracy denotes the degree of conformity or agreement of the measured value in relation to an accepted standard; usually expressed in percentage of the actual or of the full-scale reading of the instrument; for the percentage-full-scale devices, the error increases proportionally as the absolute values of the measurement drop. The repeatability the bourdons transducer refers to the closeness to agreement in a number of consecutive physical measurements of the same given variable. Linearity refers to the measurement of the wellness the transducers output increase linearly with pressure increase. Hysteresis error is a phenomenon characterized by the same pressure process resulting from different output signals dependant on whether the present pressure is approached from higher or lower pressure. Digital pressure instrument contain microprocessors that have improved the built-in diagnostic capabilities; increased their accuracy by the introduction of digital compensation that reduces the sensors’ nonlinearities; and have the capability of communicating digitally with the host device in availing different parameters. The Bourdon tube has elliptical hollow tube, when there is pressure difference between the outside and inside the

Advance directives Research Paper Example | Topics and Well Written Essays - 1250 words

Advance directives - Research Paper Example In essence, nurses are considered the primary care givers. Therefore, there are actively involved in the treatment process of patients. It is important to elucidate the fact that the ever changing dynamics of the healthcare profession as well as the expanding roles of nurses in the delivery of care are some of the factors that contribute to the many challenges of maintaining confidentiality. In definition, confidentiality in healthcare denotes the fact that all information given to any medical practitioner by the patient regarding his or her health ought to be treated with utmost discretion (Dolan and Barrister, 2004). Despite the fact that nurses are allowed to only diverge a patients medical information to third parties only with the consent of the patient, there are cases where the law demands release of such information without the his or her consent. Take for instance a patient refusing to take medicine and his or her medical condition poses a risk to the health of other individ uals. In such a case, a medical fractioned is justified to release the patients medical information to the police and other relevant authorities. Information can also be released to third parties if medical practitioners are required or ordered by a court of law to do so (Dolan and Barrister, 2004). Nurses and other care providers such as physicians are obligated by their professional codes of ethics to maintain confidentiality in regard to any information pertaining to their patients. In order to effectively comprehend legal approaches to confidentiality, it is of significance to posit that the kind of care provided to a patient is dependent on the relationship he or she has with the medical practitioner. Patients divulge all their private information to their healthcare providers with an assumption that the information will not fall into the wrong hands. In a legal perspective, it is the responsibility of medical professionals to

Eastman Kodak Company Case Study Example | Topics and Well Written Essays - 1250 words

Eastman Kodak Company - Case Study Example It was observed that Kodak aimed to create a monopoly in the market which violated the Sherman Act’s Section 2 guidelines. The company also attempted to impose varied types of exclusive dealing based contracts upon different retailers. The decree includes licensing of processes for photofinishing as well as assistance of technology for anyone eager to start the business of photofinishing. The main objective of the decree was to ensure a healthy competition among the varied business entities in the photofinishing industry (Baye & Scholten, â€Å"Kodak Appeals to Court to Terminate 1921 and 1954 Decrees that Restrict Pricing Policies†). It can be stated that Kodak became the solitary leader in the industry with the development of film based product. The company sold its color film through processing aspects. It is also noted that through bundling the prices of photofinishing as well as processing, Kodak monopolized the market of the photographic industry. This resulted in the emergence of 1954 antitrust decree, which is considered as the second decree affecting the actions of Kodak. The decree was initiated by the court in order to enact restrictions to Kodak against bundling photofinishing process effectively. Hence, it can be stated that both the decrees i.e. 1921 and 1954 had resulted in the creation of enhanced market competition in the global market context for selling the products of photo films as well as processing. The decrees had restricted Kodak’s monopoly business in the global market context (Baye & Scholten, â€Å"Kodak Appeals to Court to Terminate 1921 and 1954 Decrees that Restrict

Organization Change and Development Essay Example | Topics and Well Written Essays - 1000 words

Organization Change and Development - Essay Example There is not one organization in the world that can survive the current business environment by resisting change (Kaufman, 2007). These changes are not random; rather they are the result of various factors which will be the focus of this paper. Factors Affecting Change The major forces that make organizational change inevitable, which can either be external or internal, are: economic, technological, social, political, legal, labor market and international environments. Every organization has its own unique goals and objectives which are related in one way or another to the changing business environment which is highly dynamic. These factors of change normally force the organization to re-evaluate and change its mode of operation, management and service delivery (Botha and Kourie, 2008). Technology may be the main factor of change that is being experienced all over the business world. The 21st century has been characterized by innovations and introductions of new technologies which ha ve affected the way people love and work. Perhaps the most important of this technological innovation has happened in the communication sector. The development of the telephone, internet and other forms of communication has entirely changed the business environment (Appalbaum, Close and Klasa, 1999). ... The market conditions in the 21st century have also changed quite a lot. Competition has become much stiffer than it was years ago. This competition has been heightened by the ever increasing number of businesses that offer the same or similar products and/or services. The battle to remain relevant in this kind of market environment is one that all organizations must fight on a constant basis. If it means that the organizations have to change the way they conduct their business, then there is no way around it. Globalization is a major reason why market competition has risen to such great heights (Appelbaum, Everard and Hung, 1999). A good example of a business environment that has seen many changes due to changing market conditions is India. After liberalization in the last two centuries, the country has experienced an influx of foreign companies and formation of many others. This has created such high level of competition that those organizations which could not keep up with the cha nge had to close down or merge with those that had already adapted to the changing business environment. Those organizations that were able to re-align their operations with the sweeping changes in the market are some of the countries best today. The political and legal environment is also as turbulent as the business environment of today. This is because it is also vulnerable to frequent changes, which also affect other spheres of life for individuals and organizations alike. Any changes of governance or administration in a country or a region may have great implications for businesses. For instance, if a democratic government is replaced by a totalitarian one, or vise versa, there is likely to be a major shift of

Answer case questions Assignment Example | Topics and Well Written Essays - 1000 words

Answer case questions - Assignment Example Company data shows that marketing expense increased from $108.9 million in 2009 to $246.5 in 2013. The increase in marketing expenditure is the result of the adoption of a robust marketing and promotion strategies. The company used a variety of promotion strategies. First, the company sought to promote is product visibility in the sports sector by signing outfitting contracts with schools and colleges. By so doing, people can see the products of the company. Second, the company increased its retail shops and also the product presentation at the shops to attract shoppers. Third, the company made extensive use of the media to advertise its products. The company uses three main distribution strategies. The company sells in wholesales terms to retailers who then resell the product to the final consumers. Under Armour also engages in direct sales to its consumers. In fact, direct sales accounted for 30.4% of the sales in 2013 (Thompson 244). Finally, the company sells licenses to enable distributors sell its products in areas where it has no presence. Product Licensing gives distributors exclusive rights to sell Under Armour products. Thus, they act on behalf of the company. The strategy has enabled Under Armour to have a presence in areas where it does not have operations. High-quality products are responsible for the growth of the company. The company has a product development team that works with third party suppliers to ensure that materials are of high quality. The team also ensures that the manufacturing process adds the required features such as comfort and design (Thompson 246). The marketing team also collects opinions and reviews from customers and potential customers to identify the customer’s perspective towards the product, and how the products can be improved to fit the needs of the target customers. To ensure quality of their products, Under Armour used raw materials from approved suppliers

Tax Havens or Offshore Financial Centre Research Proposal

Tax Havens or Offshore Financial Centre - Research Proposal Example You can have tax havens that charge virtually no tax at all or which just charge annual administrative sums of money for companies using its shores as a base for their operations, and you can have nations that simply charge a lower rate of taxation than competitor havens". (Barber, 2006) Recently some countries have emerged as evident tax havens and are attracting hefty capital inflow. Singapore, Hong-Kong, Barbdos etc are only a few to name. "In Asia, offshore interbank markets began to develop after 1968 when Singapore launched the Asian Dollar Market (ADM) and introduced the Asian Currency Units (ACUs). The ADM was an alternative to the London euro-dollar market, and the ACU rule enabled mainly foreign banks to engage in international transactions under a favorable tax and regulatory environment" (International Monetary Fund, 2000) Similarly in Europe, Luxembourg attracted investors from Germany, France and Belgium in the early 1970s (IMF, 2000) due to its low income tax rates, the lack of withholding taxes for nonresidents on interest and dividend income, and banking secrecy rules. On the same ground The Channel Islands and the Isle of Man provided very similar opportunities. Moreover Bahrain began to serve as a collection center for the region's oil surpluses during the mid 1970s, after passing banking laws and providing tax incentives to facilitate the incorporation of offshore banks. In the Western Hemisphere, the Bahamas and later the Cayman Islands provided similar facilities. Following this initial success by other countries, a number of other small countries tried to attract this business. Many had little success, because they were unable to offer any advantage over the more established centers. This did, however, lead some late arrivals to appeal to the less legitimate side of the business. "By the end of the 1990s, the attractions of offshore banking seemed to be changing for the financial institutions of industrial countries as reserve requirements, interest rate controls and capital controls diminished in importance, while tax advantages remain powerful. Also, some major industrial countries began to make similar incentives available on their home territory. For example, the U.S. established in 1981, in major U.S. cities, the so-called International Banking Facilities (IBFs). Later, Japan allowed the creation of the Japanese Offshore Market (JOM) with similar characteristics. At the same time, supervisory authorities, and to some extent tax authorities were adopting the principle of consolidation which reduced the incentives for banks to carry on business outside their principal jurisdiction. As a result, the relative advantage of OFCs for conventional banking has become less attractive to industrial countries, although the tax advantages for asset management appear to have grown in importance. In fact, reported bank intermediation on the balance sheet in IFCs has declined over the period 1992-1999, thus contributing to the overall decline in the share of bank cross-border assets intermediated through OFCs from 56 percent of total bank cross-border

Hospital improves patient case with data warehouse Study

Hospital improves patient with data warehouse - Case Study Example What this paper aims to achieve is develop an understanding of various economic theories in order to be able to explain the readers about various advancements being made in the world economy. Let’s start off by taking one side of the coin and discussing it in detail before moving on to the other one (Dean). The theory of Realism concentrates on shedding light on the way various roles played by various States around the globe in determining the trend of the international political economy. Moreover, it also focuses on the relation between the level of power possessed by a State and/or a group and how it affects the international economic trend. The supporters of Realism are often referred to as mercantilists or economic nationalists. What’s rather interesting about this school of thought is the fact that they believe that States across the globe find their motivation as the level of power they possess gets maximized. They further believe that power maximization is achieved through the help of international trade, and in this regard international trade policies are one of the many tools that can be put to use by States. Economic analysts who are supporters of Realism are of the view that the global economy works on terms which are majorly based on the interests and motives of powe rful States existing world over (Jonathan and Wight). The second theory that we are focusing upon here is the Marxist theory. This theory was invented by Karl Marx along with his friend and fellow co-author, Fredrick Angles. As mentioned earlier this theory mainly focuses upon differences in various social classes and motives of different workers. Karl Marx, or rather the Marxism theory seems to argue upon the fact that the existing conflict between the workers and owners of capital could only be amicably resolved provided the working class seize their power. Marxism theory