Saturday, October 5, 2019
Memorandum. The intentional infliction of emotional distress case Assignment
Memorandum. The intentional infliction of emotional distress case study - Assignment Example The relevant law to be used in this case is the intentional infliction of emotional distress. In this case, it will be determined whether Mr. Crane should be charged for intentional infliction of emotional distress on Ms. Jeffers. The case has not been filed but it is probable that Ms. Jeffers will sue Mr. Crane for intentional infliction of emotional distress, particularly, his conduct was extreme and outrageous. The law states for the conduct to be extreme and outrageous, the distress must be able to affect the functionality of the plaintiff’s professional or personal life. Several cases have used the law and different interpretations have been given on the outcome of the cases. Mr. Crane’s conduct is probably not extreme and outrageous. This is because the law states that for a conduct to be regarded as extreme and outrageous, the distress is supposed to have a significant impact on the plaintiff’s professional and personal life. Mr. Crane acted out of goodwill and Ms. Jeffers interfered with the conversation between him and Christy. According to the cases discussed, it is evident that prove must be given to indicate that the defendant’s conduct was extreme and outrageous. The law states that for the defendant’s conduct to be regarded extreme and outrageous, it must be outrageous in character and extreme such that it is beyond the degree of decency. The extreme and outrageous behavior may arise from abuse of the individual or from the significant authority given to defendant (or the power he or she possesses) over the other such that he can influence his or her interests. ... Application Mr. Crane’s remarks are not enough to prove that he caused emotional distress on Ms. Jeffers. Based on the second case, it can be argued that Mr. Crane was doing his duty as a â€Å"gymnastics coach†and he knew the strengths and weaknesses of each student. Thus, in his opinion based on the performance of the student, he could give a conclusive statement about the student. Just like Mattix-Hill, conflicts of duties and interests emerged. Though Mr. Crane talked in a harsh tone, this cannot be enough to consider his conduct as extreme and outrageous. In the first case, it is clearly stated that indignities, annoyances, mere insults, petty oppressions, or even threats do not amount to be considered as extreme and outrageous conduct. Ms. Jeffers has not yet claimed that she has suffered emotional distress from the remarks made by Mr. Crane. However, if she claims, it will be important that she prove that the coach caused emotional distress as seen in all the four cases. Th e fact that Mr. Crane talked in an inhumane manner, his conduct can still be regarded as extreme and outrageous if Ms. Jeffers gives sufficient evidence. Thus, Ms. Jeffers can win the claim for intentional infliction of emotional distress. However, Mr. Crane’s conduct is probably not extreme and outrageous.
Friday, October 4, 2019
CRJS315 U2IP Research Paper Example | Topics and Well Written Essays - 250 words
CRJS315 U2IP - Research Paper Example It is the nature of teenagers to be rebellious but has the society asked itself what causes all this. Reported cases of bad behavior and illegal practices are common among juveniles, and this is worrying (BartuschandBurfeind, 2011). Anomie is the scenario where a community does not offer any guidance or direction to the people. This is especially the case for the 21st century where everyone is busy looking for money and self-empowerment while disregarding the general cohesion and togetherness of the community (Welsh and Siegel, 2011). Anomie is caused when a society undergoes rapid changes in its underlying values due to e.g. the emergence of different social classes. When this happens, the general cohesion of the society is weakened leading to different chances for the individuals to access opportunities equally. The lack of opportunities especially on the side of the less fortunate, results in a lack of morals. This is because they are willing to do anything to have those chances. Some end up finding their lack but most never do and may end up detesting the well-off (Clark,2000). This usually leads to cases of bad behavior e.g. bullying, pickpocketing, petty thieves and even drug and substance abuse. In cases of college teenagers, the inequality among the students may cause some of them to be involved in exam malpractices (Peterson,2013). To them, it is available means to excel in class and make a better life for them especially if they come from poor backgrounds. The solution, therefore, as a probation officer, is to encourage the community that, even though people may be in different social classes, the general cohesion and togetherness of the people should be maintained (Nowinski, 2007). The other things would be to encourage them to ensure equal opportunity for everyone and prevent discrimination against because of anything. Be it because of their sexual orientation, gender, race, social class or anything,
Thursday, October 3, 2019
The Cold War in the 1960s Essay Example for Free
The Cold War in the 1960s Essay LBJ and the Escalation of the War * Credibility * Feb 1965: air strikes started * July 1965: ground troops * Why there was no military victory in Vietnam? * The strength of the enemy * The weakness of the South Vietnamese Government * Guerilla war in Vietnam * Limited war in Vietnam * Search-and-destroy vs. clear-and-hold * The media * A Multitude of Movements Student Rebellions, The New Left, and the counter cultural movement * SDS (1960) and its goals * 1964 UC Berkeley and student rebellion * Cultural radicals: the hippies * The Rise of Feminism * Betty Friedan and The Feminine Mystique * 1968: the year of upheaval * January: the Tet Offensive and the credibility gap * March: LBJ would not run again for president * April: MLK assassinated * June: Bobby Kennedy assassinated * August: the Democratic National Convention at Chicago became a street fight * Hubert H. Humphrey, Eugene McCarthy, Nixon, and the 1968 election * The challenge from George Wallace Troubles all around the world * NIXON, KISSINGER amp; DETENTE * Nixon, Henry Kissinger and geo-politics * Sino-Soviet split and the triangular diplomacy * Strategic Arms Limitation Talks I (SALT I) * Nixon’s war in Vietnam * June 1971, Daniel Ellsberg and the Pentagon Papers * Paris Peace Treaty (1973) * The fall of Saigon (1975) * The Nixon Doctrine * Detente and the limit of US Power.
The aims and nature of ryanair
The aims and nature of ryanair The aims of this report are to analyse and explain the nature of Ryanair business organisation, identify the contribution of functional areas to the operation of Ryanair organisation and to demonstrate an understanding of core concepts in functional areas. The objective of this report is to show understanding in organisations key areas such as: organisational type, financial information, marketing management, quality and supply chain. The Ryanair Holdings second-largest airline in Europe in terms of passenger numbers came to the business world in July 1985 with flights on a 15-seater Bandeirante aircraft. It was operating daily from Ireland to London Gatwick airport. Quantity of passengers was approximately 5,000 thousands. In 2009 quantity of passengers increased by 66,503,999 million. Ryanairs fleet rose to 232 Boeing 737-800. During 1985-2009 Ryanair has opened bases in the centre and north side of Europe. Low cost airline profits rose 200% to over 318 million euro while many of Ryanairs competitors announce losses and even more go bankrupt (Ryanair 2009). Ryanairs future activities will be considered in below presented articles. 2.0. Findings Figure 1. Ryanair Holdings Logo (Ryanair 2010) 2.1. Organisational Structure Bonderman and OLeary (1996) established a new company Ryanair Holdings, they have bought the control of Ryanair Company just for  £5 million cash, an airline they had valued at approximately  £57 million. From that moment Michael OLeary is Ryanair Holdings legal entity (Creaton 2007:117). 2.1.1. Sector in which Ryanair Trade According to Palmer et al., Ryanair operates in private-sector, because the aim of private-sector organisations is to earn profits for the owners of the organisation. As OLeary is entity of Ryanair, he: à ¢Ã¢â€š ¬Ã‚ ¦always acting in the interests of the company because he is a shareholder (Siobhan Creaton 2007:278). Moreover, OLeary said that he will earn as much profit as he cans (Siobhan Creaton 2007:277). In addition, private-sector is able to monitor the results of its marketing activity, as the benefits are usually internal to the organisation (Palmer and Hartley 2006:230). Ryanair publish their annual report which will be used in this report as an example of sources of finance (Ryanair Holdings 2010). Private sector is subdivided into four types, but Ryanair refers to two of them: Private Limited Company (LTD) and Public Limited Company. LTD permits some defence to the shareholders they take a risk to invest money for business. Thus, shareholders can use Ryanairs annual report (Ryanair Holding 2010) which includes detailed financial information (Boddy 2002:488). PLC must have a minimum share capital of  £50,000 and must have at least two directors. As to Ryanair, OLeary and Bonderman have bought control over Ryanair Limited for  £5 million (Palmer et al. 2006:220). Consequently, Ryanair Holdings PLC (Ryanair Holdings) is the holding company for Ryanair Limited (Ryanair). 2.1.2. Structural Style Ryanairs structural style is divisional, where administrators create divisions and make them responsible for all the functions to deliver their facilities to the consumers (Boddy 2002:245). Ryanair Company has geographic divisions, to the location of customers. For example, Ryanair has a group of people who works in Baltic countries, such as Latvia and Lithuania and there are managers, who are responsible for staff, customer needs, and manager use autonomy to meet local needs (Boddy 2002:246). 2.2. Ryanairs Source of Finance Ryanairs company is financed by internal sources sources of finance that come from the business activities retained profit. For example, if the Ryanair business had a successful trading year, the organisation can use got profit for future activities. Of course, Ryanair can use profit only after paying all its costs (Manak 2009:184-185). The advantage is that source is very useful for long term business, because they can use it sources for future business activities. For example, Ryanairs attendants sell a variety of products such as MP3 players, digital cameras, perfumes and so on. All the extras revenues are up to 15% of all revenues. Ryanair Company is trying to earn revenue on everything on the board except seats (Kotler et al. 2009:577). Furthermore, Ryanair is run by equity finance. That means that organisation or a person providing money, does not receive interest and there is no guaranty that it will be repaid. If organisation had a success in borrowing money there will be an increase in share value or in dividends. Besides, after borrowing success, shares could be sold to some on else. (Smith 2007:291). There are different types of shares: ordinary shares and preference shares. Ryanairs organisation has ordinary shares. Shareholders receive ownership of a small part of a business and they carry complete voting rights. The number of ordinary shares that Ryanair has is 1,476.4 (in Ms) (Ryanair Holdings 2010:138). Correspondingly, companys earnings per ordinary shares are 20.68 (euro cent). However, if organisation will have unsuccessfulness, shareholders will be last people who will receive proceeds and may be receive nothing at all. (Smith 2007:292). 2.2.1. Profit or Loss? Being based on Ryanairs Income statement for year 2010 company got the profit of à ¢Ã¢â‚¬Å¡Ã‚ ¬341million before tax and à ¢Ã¢â‚¬Å¡Ã‚ ¬305.3 million after tax (RH 2010:135). Thanks to lower oil prices, companys traffic increased to 14% of customers. Ryanairs non-ticket revenues rose to à ¢Ã¢â‚¬Å¡Ã‚ ¬661 million or 11% in 2009 but now (2010) account is 22%. Besides, Ryanair opened 280 new routes in 2009, with destinations such as Spain and Portugal for summer travellers, making higher summer rates. Besides, shareholders will receive special dividends up to 550 million euros. Congruently, Ryanairs chief executive OLeary will receive 20 million euros, who owns just 4$of the companys shares. (Guardian 2010) 2.3. Marketing strategy and Target Market Marketing strategy: à ¢Ã¢â€š ¬Ã‚ ¦involves the activities of selecting and describing one or more target marketsà ¢Ã¢â€š ¬Ã‚ ¦ (Lamb et al. 2008:43). To identify target market, an organisation should identify which of the segmentation is distinct and actionable. Ryanairs target is market segmentation activity. Segmenting market relies on detecting the variables that differentiate customers with need (Boddy 2002:215). Ryanair organisation refers to demographic segmentation social class. It can be used characterised function standards such as education, profession and property worth (Kotler 2009:16). Company select only one target segment to focus on, consequently, organisation use concentrated targeting strategy. The advantage is that business may concentrate on resources and can better meet the needs of defined segment (Lamb et al. 2008:247). 2.3.1. Marketing Mix When target market is identified organisation can evaluate marketing mix. McCartneys four marketing mix tools were expanded to 7Ps by Boden, which had a more services focus and included process, physical evidence and people. 7Ps is a necessary mix that company should track to maximise marketplace results (Kotler et al. 2009:17).Ryanair is using 7P Formula for its brand image, which consists of: 2.4. Quality Strategy According to David Garvin (1981) there are 8 dimensions of quality that can serve as a quality framework. For Ryanairs Company quality strategy identification we will use only 4 the most obvious dimensions: Performance characteristics of a service (Garvin 1987:50). For example, Ryanairs service speed, flight booking is depended on your own, because Ryanair is offering only self-service. Another example is absence of waiting, unfortunately, Ryanair not the best in this service, because flights are usually delayed. Perceived quality -it is about clients previous experience, what he thinks about that company (image, reputation) (Garvin 1987:59-60). Focussing on core brand value (providing cheap tickets to approximately 49 million passengers who desire low cost to high service) is a key of Ryanairs success. (Kotler et al. 2009:443). Aesthetics it is about personal judgment of individual (Garvin 1987:59). For example, passenger is ordering some food that looks and tastes not as good as at picture was. In addition, sight or vision of service. For example, Air France KLM have an impression of luxury thanks to leather seats, while Ryanair has plastic seats with blue and yellow as the dominant colours of no frill focus company (Kotler et al. 2009:681). Serviceability how fast client will be served (Garvin 1987:57). For example, passenger is ordering some meal and he gives denomination but not a coins, it will take an eternity to receive back your change. So Ryanair has very poor serviceability. Relying on above mentioned facts it is possible to tell that Ryanair has not got any strategic quality at all. Ryanairs chief executive is obsessed with providing a functioning airline and cared little about pleasing its passengers, passengers number growth and companys profit (Creaton 2007:271). 2.4.1. 3 Key Areas of Quality Quality Service People Marketing High (Service satisfies customers needs) Sales promotion Low (customers are dissatisfied) Food for extra pay; Uncomfortable seats; Checked luggage; Bus transportation into town. Employees must pay for own security checks Staff must pay for own uniforms and parking Staff must supply own tea and water Advertising Service is an indicator of poor quality, because while you are flying at Ryanair aircraft you will not receive any food for free. For example, the hot dog for 4 euros (Kotler et al. 2009:577). Moreover, it is well known fact, that Ryanairs seats are uncomfortable, seats do not recline and seat-back pockets have been removed (Kotler et al. 2009:577). Comparing British Airways (BA) with Ryanair, BA has first business and economy classes seats, while Ryanair has only Economy class seats (British Airways 2011). Furthermore, client should spent extra money for bus or train transportation into town from distant airports that Ryanair uses (Kotler et al. 2009:577). Furthermore, Ryanair has poor quality in HRM. Staff could no longer enjoy their tea or coffee for free, staff must to bring own drinks and snacks to work. Cabin crew were banned to use ovens on board, because there will be no additional cleaning costs. Pilots were told that they can use only one ream of paper a day (for reports). They also have to do bi-annual medical examinations, in their own time, and what is the worst they have to pay for their own for it. Additionally, reduction concerns to uniforms, company will deduct monthly sum from staff pay to cover their uniforms. Besides, there is a problem of absenteeism in Ryanairs company (have lost over 10,000 days) (Creaton 2007:239). Ryanair is famous with rude and scandalous posters. One of the examples is poster which offended BAs company (Creaton 2007:239). Comparing Ryanairs posters with BAs we can say that BAs advertising is more enjoyable, because there are no slogans that are concerned with price reduction (see Appendix 1 and 2). The only thing that has a high quality is sales promotion; because a quarter of seats are free, passengers pay only taxes and fees of approximately 7 16 euros (Kotler et al. 2009:577). In addition, buying a ticket passenger can return their 10 pounds, receiving a coupon (after completing online booking Ryanair offer to complete form). 2.5. Sequence of Supply Chain Activities Ryanair Company provides transaction by airplane services. The table below shows the sequence of supply chain activities. At First, passengers decide to use Ryanairs airline then they have to complete the online form at Ryanair.com, then passengers will receive digital receipt at their e-mails. The following stage is online check-in, which you must to complete from 15 days up to 4 hours prior to passengers scheduled flight departure. Moreover, client must to print check in ticket. (à  ¡Ãƒ  à œ à †à Å ¾Ãƒ †ºÃƒ -à †¢Ãƒ  à  à  à  ¡Ãƒ Ã… ¸Ãƒ †¢Ãƒ à  à  ¢Ãƒ  à  ¢Ãƒ  ¬) At day of flight traveller arrives to the airport and registers their luggage and then goes transportation. When passenger arrives in the airport he should undergo the same procedure as well as before flying (registration, à  ¿Ãƒ  ¾Ãƒ  »Ãƒâ€˜Ã†â€™Ãƒâ€˜Ã¢â‚¬ ¡Ãƒ  µÃƒ  ½Ãƒ  ¸Ãƒ  µ luggage). The disadvantage of Ryanairs Supply Chain service output is waiting time. It is the time that customer has to wait before flight. The lower the waiting time, the higher the level of service (Bowersox et al. 2010:51). For example, Ryanairs flights are often delayed and sometime even cancelled. Consequently, Ryanairs level of service is poor. 2.5.1. Value -Added Services Ryanairs internet booking is the value-added service in Supply Chain process. According to Bowersox (2010) et al. value-added services refer to unique activities that firms can develop to increase their productivity. For example, internet booking is unique activity, and passengers, buying tickets, online can save they time. In addition, online check-in is value added service, because if passenger does not have luggage (more than 15 Kg) he can go straight to the gate. Online check-in helps to save passengers time (do not wasting time staying in the registration queue) and companys time and money (staff working hours). The company is in great demand at consumers despite that consumers are performing self-service, of course except transaction by airplane. People are ready to for this kind of services, because they prefer low cost rather than high quality or supply chain services. Ryanair is offering close distance only that is why consumers prefer low cost ticket, 2 or 4 hours may not cost a high quality. 3.0. Conclusion The main conclusion that can be drawn therefore is that: 1. Ryanair organisation is trading in the public sector that gives an advantage for its owners, because private sector helps to earn money for them. Also, Ryanair adopted divisional structure, because airline has it offices almost in all over Europe. 2. Ryanair is run by retained profit and equity finance. Furthermore, company is making profit of à ¢Ã¢â‚¬Å¡Ã‚ ¬341m before tax. 3. Ryanairs target market is demographic segmentation if speak in detail Ryanair company is considering social class for characterising function standards such as education, profession and property worth. Ryanair is using Seven P Formula as a marketing mix for its brand image. 4. Quality dimensions speak about that Ryanair business organisation has got a poor quality. 3 key elements: people, service and marketing -are not high quality. The only thing that is high quality is Ryanairs sales promotion. 5. Almost all the Ryanairs services are self-services, except transaction by airplane. Correspondingly, Ryanairs supply chain has disadvantage such as service waiting time and supply chains poor quality. Ryanairs trading in the last 5 years are talking that organisation had pick moments and also had some falls. Generally, company had shown excellent performance in low-cost strategy, increasing it passenger number from 34.8 million (2005) to 66.5 million (2009), while many of Ryanairs competitors announce losses and even more go bankrupt. During 5 years Ryanair has opened bases several new bases such as Bournemouth, Birmingham and Belfast. Forecasting how the Ryanair business may proceed in the current economic climate, I may say that Ryanair will continue to exist in the world market, because its chief executive knows what people want low cost tickets. Consumers interest in traveling will continue to exist even in economic recession time. While consumers incomes are falling but supply is increasing, Ryanairs organisation will continue to offer low cost seats or even seats for free. I assume that in future Ryanair will expand it destinations to other continents such as South America and Africa, because company has got huge possibilities for that. The only thing to do is to find additional investors and to think over the strategic plan. 4.0. Recommendations In the light of these conclusions, I would recommend Ryanair organisation to improve organisations supply chain. All the Ryanairs destinations are operating into far-flung airports and passengers are confused about airports. All that it is necessary is change some of the destinations to major cities. Another solution is to write not only the airports name and country but write a citys name as well. In addition, I would recommend to improve quality strategy a specially one of the quality aspects people (HRM) as staff may start to strike. Their needs are not considered, company should prove such necessary elements such as uniforms and bi-annual medical examination. Of course, it will cost huge amount of money for the organisation but still staff will be satisfied. As a consequence, staff will work better and Ryanairs service will be little improved as well. References Boddy, D. (2002) Management An Introduction (2nd Ed.) Harlow: FT Prentice Hall. Bowersox, J., D., Closs, J., D., and Cooper, B., M. (2010) Supply Chain Logistics Management (3rd Ed.) New York: McGraw-Hill. British Airways (2011) Travel classes [online] available from [5 February 2011]. Garvin, D., A (1987) Managing Quality, New York: The Free Press. Guardian.co.uk (2010) Ryanair returns to profit [online] available from [9>HYPERLINK http://www.guardian.co.uk/business/2010/jun/01/ryanair-returns-to-profit> [9 [9 February 2011]. Kotler, P., Keller, K.L., Brady, M., Goodman, M., and Hansen, T. (2009) Marketing Management. Harlow: Pearson Education Limited. Lamb, W., Hair, F., J., and McDaniel, C. (2008) Marketing (10th Ed.) Mason: Nelson Education, Ltd. Manak, S. (2009) Introduction to Business Organisation 121BSS, Glasgow: McGraw-Hill. Palmer, A., and Hartley, B. (2006) The Business Environment (5th Ed.) New York: McGraw-Hill. Ryanair (2009) About Us [online] available from [27>HYPERLINK http://www.ryanair.com/en/about> [27 [27 January 2011]. Ryanair (2010) Logopedia [online] available from [31>HYPERLINK http://logos.wikia.com/wiki/Ryanair > [31 [31 January 2011]. Ryanair Holdings (2010) Annual Report Financial Statements 2010 [online] available from [3 February 2011]. Siobhà ¡n Creaton (2007) RYANAIR: The Full Story of the Controversial Low-Cost Airline, London: Aurum Press Limited. Smith, M. (2007) Fundamentals of Management, Glasgow: McGraw-Hill Education. Bibliography Beckford, J. (2002) Quality (2nd Ed.) London: Routledge. Calder, S. (2002) No Frills The Truth Behind The Low-Cost Revolution In The Skies, London: Virgin Books Ltd. Harrington. J., H. (1987) Poor Quality Cost, New York: Mareel Dekker, Inc. Hoyle, D. (1997) QS 9000 Quality Systems Handbook, Newton: Butterworth Heinemann. Hutt, M., and Speh, W., Th. (1998) Business Marketing Management a strategic view of industrial and organizational markets (6th Ed.) Orlando: The Dryden Press. McDaniel, C., Lamb, W., Ch., and Hair, F., J. (2008) Marketing (10th Ed.) Mason: Nelson Education, Ltd. Waters, D. (2003) Logistics An Introduction to Supply Management, New York: PALGRAVE MACMILLAN. Appendices Appendix1
Wednesday, October 2, 2019
Technology and the Brave New World :: Brave New World
Technology and the Brave New World            Although the book Brave New World, by Aldous Huxley, was written long ago, its subject has become more popular since most of the technologies described in the book have, at least, partially, become a reality. Huxley's community of Utopia is a futuristic society designed by genetic engineering, and controlled by neural conditioning with mind-altering drugs and a manipulative media system. Yet, despite the similarities, the reader also finds many contrasts between the two societies. Perhaps the most salient contrast between Huxley’s Utopia and our modern society, deals with the issue of procreation. The majority of babies born in our society today, are still the result of intercourse between a man and a woman. In many cases the birth of a child is a memorable and joyous event for the woman. In Utopia, however, if a woman is caught bearing offspring, she will be punished by exile. Offspring not produced the society’s way is a threat to the society’s existence, in the eyes of the leaders. As today, pregnancy, in Utopia, could be prevented using a variety of methods. Where our society uses male and female birth control methods, Utopia has pregnancy substitute (a procedure in which Utopian woman are given all the psychological benefits of childbirth without undergoing it) and malthusian drill (similar to today’s birth control pills). However, modern society and Huxley’s Utopia both explore the advantages of artificial reproduction, although Utopia has taken it to the extreme: The Bokanovsky Process, is a method whereby a human egg’s normal development is arrested, then buds, producing many identical eggs. â€Å"My good boy!†...†Bokanovsky’s Process is one of the major instruments of social stability!† (Huxley, 7).  Not only did this method create millions of â€Å"robot like†citizens for Utopia, but the leaders have supreme control over any threat of overpopulation. Utopian predestinators decide the future function of each embryo, essentially assigning class status.   In this way, the leaders of Utopia are also able to keep the social classes balanced in the way they felt benefited everyone.            Although the reader sees some dissipation of social classes in modern society, in Utopia, the class distinctions were palpable. A five-tiered caste system is maintained which ranks Alphas and Betas on top followed by Gammas, Deltas, and the semi-moronic, ubiquitous Epsilons. The motto "Community, Identity, Stability" frames the Utopian social structure.
Tuesday, October 1, 2019
hGH’s Effects on AIDS Wasting Syndrome :: Biology Biological Research Papers
hGH’s Effects on AIDS Wasting Syndrome "As for the fact that the disease tends to produce death, this is a matter of small significance. Life itself tends to produce death; living is a sort of gradual dying. All that distinguishes what is known is known as a healthy man from what is known as a diseased man is that the latter promises to die sooner – and even this probability is not always borne out by the event." H.L. Mencken What is Human Growth Hormone?. When asked to think about the human growth hormone (hGH) and its uses, many would envision an abnormally short man or woman who needs the hormone in order to grow to an average height. And in fact, this is one of the hGH’s most vital functions, yet there are many more uses for the hormone, unknown to much of the general public. Human growth hormone is a protein consisting of one hundred and ninety one amino acids and possessing a molecular weight of 21,700 (http://www.eng.rpi.edu/dept/chem-eng/Biotech-Environ/FUNDAMNT/human.htm). It is produced in the pituitary gland of humans, where if functioning normally, it is secreted continuously throughout a person’s lifetime. The hormone promotes growth throughout adolescence and has a major role in the metabolism of adults (http://www.novo.dk/backgrou/backgrou/bahghuk.htm). hGH has many uses including the treatment of hypopituitary dwarfism, bone fractures, burns, and bleeding ulcers. In fact, until 1988 hGH was only used to tr eat those with growth hormone insufficiency, caused by a limited supply of the hormone (http://www.novo.dk/backgrou/backgrou/bahghuk.htm). However, with the widespread infection of the HIV virus, hGH has experimentally and effectively been found to benefit those suffering from AIDS wasting syndrome. What is AIDS Wasting Syndrome?. Often nicknamed "slim disease" in parts of Africa, wasting syndrome, in which there is intense loss of lean body mass, is killing people with AIDS. It is now the "second most frequently reported AIDS-related clinical condition in the United States, second only to Pneumocystis carinii pneumonia (Weinroth, 1995). In wasting syndrome, the body begins to burn lean body mass and fat instead of the normal energy, making the body more susceptible to deadly infections. (http://www.critpath.org/newsletter/wtp/0496/growth.htm). The weight loss is very often associated with chronic weakness, constant diarrhea, and/or prolonged, unexplained fever (Weinroth, 1995).AIDS wasting arises in about 15-40% of late-stage AIDS cases (http://www.critpath.org/newsletter/wtp/0496/growth.htm). There is, however, a higher occurrence among women, Hispanics, and intravenous drug users. hGH’s Effects on AIDS Wasting Syndrome :: Biology Biological Research Papers hGH’s Effects on AIDS Wasting Syndrome "As for the fact that the disease tends to produce death, this is a matter of small significance. Life itself tends to produce death; living is a sort of gradual dying. All that distinguishes what is known is known as a healthy man from what is known as a diseased man is that the latter promises to die sooner – and even this probability is not always borne out by the event." H.L. Mencken What is Human Growth Hormone?. When asked to think about the human growth hormone (hGH) and its uses, many would envision an abnormally short man or woman who needs the hormone in order to grow to an average height. And in fact, this is one of the hGH’s most vital functions, yet there are many more uses for the hormone, unknown to much of the general public. Human growth hormone is a protein consisting of one hundred and ninety one amino acids and possessing a molecular weight of 21,700 (http://www.eng.rpi.edu/dept/chem-eng/Biotech-Environ/FUNDAMNT/human.htm). It is produced in the pituitary gland of humans, where if functioning normally, it is secreted continuously throughout a person’s lifetime. The hormone promotes growth throughout adolescence and has a major role in the metabolism of adults (http://www.novo.dk/backgrou/backgrou/bahghuk.htm). hGH has many uses including the treatment of hypopituitary dwarfism, bone fractures, burns, and bleeding ulcers. In fact, until 1988 hGH was only used to tr eat those with growth hormone insufficiency, caused by a limited supply of the hormone (http://www.novo.dk/backgrou/backgrou/bahghuk.htm). However, with the widespread infection of the HIV virus, hGH has experimentally and effectively been found to benefit those suffering from AIDS wasting syndrome. What is AIDS Wasting Syndrome?. Often nicknamed "slim disease" in parts of Africa, wasting syndrome, in which there is intense loss of lean body mass, is killing people with AIDS. It is now the "second most frequently reported AIDS-related clinical condition in the United States, second only to Pneumocystis carinii pneumonia (Weinroth, 1995). In wasting syndrome, the body begins to burn lean body mass and fat instead of the normal energy, making the body more susceptible to deadly infections. (http://www.critpath.org/newsletter/wtp/0496/growth.htm). The weight loss is very often associated with chronic weakness, constant diarrhea, and/or prolonged, unexplained fever (Weinroth, 1995).AIDS wasting arises in about 15-40% of late-stage AIDS cases (http://www.critpath.org/newsletter/wtp/0496/growth.htm). There is, however, a higher occurrence among women, Hispanics, and intravenous drug users.
Credit Appraisal Process of Sbi
APJEM Arth Prabhand: A Journal of Economics and Management   Vol. 2 Issue 1, January 2013, ISSN 2278? 0629 CREDIT APPRAISAL PROCESS OF SBI: A CASE STUDY OF BRANCH OF SBI IN HISAR NANCY ARORA*; DR. ARTI GAUR**; MS. BABITA*** *Student, Department of Business Administration, CDLU, Sirsa. **Assistant Professor, Department of Business Administration, CDLU, Sirsa. **Teaching Associate, Department of Business Administration, CDLU, Sirsa. ABSTRACT Credit risk is a risk related to non repayment of the credit obtained by the customer of a bank. Thus it is necessary to appraise the credibility of the customer in order to mitigate the credit risk.Proper evaluation of the customer is performed this measures the financial condition and the ability of the customer to repay back the loan in future. Credit Appraisal is a process to ascertain the risks associated with the extension of the credit facility. It is generally carried by the financial inst itutions which are involved in providing financial funding to its customers. In this paper, we study the Credit Risk Assessment Model of SBI Bank and to check the commercial, financial & technical viability of the project proposed & its funding pattern.Also to observe the movements to reduce various risk parameters which are broadly categorized into financial risk, business risk, industrial risk and management risk. The scope of the paper is restricted to branch of SBI in Hisar. Pinnacle Research Journals                   10      http://www. pinnaclejournals. com                                                                                      KEYWORDS: Credit Risk Assessment Model, Credit Appraisal, Technical Viability. _____________________________________________________________________________ INTRODUCTION Credit appraisal means an investigation/assessment done by the bank prior before providing any loans & advances/project finance & also checks the commercial, financial & technical viability of the project proposed its funding pattern & further checks the primary & collateral security cover available for recovery of such funds. Credit Appraisal is a process to ascertain the risks associated with the extension of the credit facility. It is generally carried by the financial institutions which are involved in providing financial funding to its customers.BASIC TYPES OF CREDIT There are four basic types of credit. By understanding how each works, you will be able to get the most for your money and avoid paying unnecessary charges. APJEM Arth Prabhand: A Journal of Economics and Management   Vol. 2 Issue 1, January 2013, ISSN 2278? 0629 1. Service credit is monthly payments for utilities such as telephone, gas, electricity, and water. You often have to pay a deposit, and you may pay a late charge if your payment is not on time. 2. Loans let you borrow cash. Loans can be for small or large amounts and for a few days or several years.Money can be repaid in one lump sum or in several regular payments until the amount you borrowed and the finance charges are paid in full. Loans can be secured or unsecured. 3. Installment credit may be described as buying on time, financing through the store or the easy payment plan. The borrower takes the goods home in exchange for a promise to pay later. Cars, major appliances, and furniture are often purchased this way. You usually sign a contract, make a down payment, and agree to pay the balance with a specified number of equal payments called installments. The finance charges are included in the payments.The item yo u purchase may be used as security for the loan. 4. Credit cards are issued by individual retail stores, banks, or businesses. Using a credit card can be the equivalent of an interest-free loan–if you pay for the use of it in full at the end of each month. CREDIT APPRAISAL PROCESS Receipt of application from applicant | Receipt of documents (Balance sheet, KYC papers, Different govt. registration no. , MOA, AOA, and Properties documents) | Pre-sanction visit by bank officers | Check for RBI defaulters list, willful defaulters list, CIBIL data, ECGC caution list, etc. Title clearance reports of the properties to be obtained from empanelled advocates | Valuation reports of the properties to be obtained from empanelled valuer/engineers | Preparation of financial data | Proposal preparation | Assessment of proposal | Sanction/approval of proposal by appropriate sanctioning authority | Documentations, agreements, mortgages | Disbursement of loan Pinnacle Research Journals                   11      http://www. pinnaclejournals. com APJEM Arth Prabhand: A Journal of Economics and Management   Vol. 2 Issue 1, January 2013, ISSN 2278? 0629 Post sanction activities such as receiving stock statements, review of accounts, renew of accounts, etc (On regular basis) REVIEW OF LITERATURE Uwe (2005)13 analysed and further development of the building blocks of modern credit risk management: Definitions of default; Estimation of default probabilities; Exposures; Recovery Rates; Pricing; Concepts of portfolio dependence; Time horizons for risk calculations; Quantification of portfolio risk; Estimation of risk measures; Portfolio analysis and portfolio improvement; Evaluation and comparison of credit risk models; Analytic portfolio loss distributions.Christian (2006)15 focused on the changing intensity of three policies that are commonly associa ted with financial repression, namely interest rate controls, statutory preemption and directed credit as well as the effects these policies had. The main findings are that the degree of financial repression has steadily increased between 1960 and 1980, and then declined somewhat before rising to a new peak at the end of the 1980s. Since the start of the overall economic reforms in 1991, the level of financial repression has steadily declined.Despite the high degree of financial repression, no statistically significant negative effects on savings, capital formation and financial development could be established which is contrary to the predictions of the financial liberalization hypothesis. Arnoud and Anjan (2007)17 study appear as the lead chapter in a readings book on corporate finance, financial intermediation and market micro structure. The unifying theme in the book is optimal design, and various chapters deal with the design of contracts, securities, institutions, market mecha nisms, and regulation from an information-theoretic perspective.Each chapter in the book is an original review article that seeks to synthesize the literature in a given area. Six topics are covered: design of contracts and securities; market microstructure; credit market implications of bank size, scope and structure; bank regulation; and finally the interaction between interbank competition, regulation and banking stability. Gary (2009)28 examined that the ‘shadow banking system' at the heart of the current credit crisis is, in fact, a real banking system – and is vulnerable to a banking panic.Indeed, the events starting in August 2007 are a banking panic. A banking panic is a systemic event because the banking system cannot honor its obligations and is insolvent. Unlike the historical banking panics of the 19th and early 20th centuries, the current banking panic is a wholesale panic, not a retail panic. In the earlier episodes, depositors ran to their banks and deman ded cash in exchange for their checking accounts. Unable to meet those demands, the banking system became insolvent.The current panic involved financial firms ‘running' on other financial firms by not renewing sale and repurchase agreements (repo) or increasing the repo margin (‘haircut'), forcing massive leveraging, and resulting in the banking system being insolvent. RESEARCH METHODOLOGY The present paper is a case study which is restricted to branch of SBI in Hisar. The objective of research paper is to study the Credit Risk Assessment Model of SBI Bank and to check the commercial, financial & technical viability of the project proposed & its funding pattern. To observe the movements to reduce various risk parameters which are broadly categorized intoPinnacle Research Journals                   12 http://www. pinnaclejournals. com APJEM Arth Prabhand: A Journal of Economics and Managem ent   Vol. 2 Issue 1, January 2013, ISSN 2278? 0629 financial risk, business risk, industrial risk & management risk. For the purpose, the secondary data is collected through the Books & magazines, Database at SBI, Websites, E-circulars of SBI. DATA ANALYSIS A) CREDIT RISK ASSESSMENT & APPRAISAL PROCESS OF SBI CREDIT RISK ASSESSMENT RISK: Risk is inability or unwillingness of borrower-customer or counter-party to meet their repayment obligations/ honor their commitments, as per the stipulated terms.LENDER’ TASK †¢ †¢ Identify the risk factors, and Mitigate the risk RISK ARISE IN CREDIT: In the business world, Risk arises out of †¢ †¢ †¢ †¢ Deficiencies / lapses on the part of the management (Internal factor) Uncertainties in the business environment (External factor) Uncertainties in the industrial environment (External factor) Weakness in the financial position (Internal factor) TO PUT IN ANOTHER WAY, SUCCESS FACTORS BEHIND A BUSINESS ARE             Pinnacle Research Journals                   13      http://www. pinnaclejournals. om                                                                                      †¢ †¢ †¢ †¢ Managerial ability Favorable business environment Favorable industrial environment Adequate financial strength CREDIT & RISK †¢ †¢ †¢ Go hand in hand. They are like twin brothers. They can be compared to two sides of the same coin. APJEM Arth Prabhand: A Journal of Economics and Management   Vol. 2 Issue 1, January 2013, ISSN 2278? 0629 †¢ All credit proposals have some inherent risks, excepting the almost negligible volume of lending against liquid collaterals with adequate margin.LENDING DESPITE RISKS †¢ †¢ †¢ †¢ So, risk should not deter a Banker from lending. A banker’s task is to identify/ assess the risk factors/ parameters & manage / mitigate them on a continuous basis. But it’s always prudent to have some idea about the degree of risk associated with any credit proposal. The banker has to take a calculated risk, based on risk-absorption/ risk-hedging capacity & risk-mitigation techniques of the Bank. CREDIT RISK ASSESSMENT (CRA) – MINIMUM SCORES / HURDLE RATES 1.The CRA models adopted by the Bank take into account all possible factors which go into appraising the risks associated with a loan. These have been categorized broadly into financial, business, industrial & management risks and are rated separately. To arrive at the overall risk rat ing, the factors duly weighted are aggregated & calibrated to arrive at a single point indicator of risk associated with the credit decision. 2. FINANCIAL PARAMETERS: The assessment of financial risk involves appraisal of the financial strength of the borrower based on performance & financial indicators.The overall financial risk is assessed in terms of static ratios, future prospects & risk mitigation (collateral security / financial standing). Pinnacle Research Journals                   14      http://www. pinnaclejournals. com 3. INDUSTRY PARAMETERS: The following characteristics of an industry which pose varying degrees of risk are built into Bank’s CRA model: †¢ †¢ †¢ †¢ Competition Industry outlook Regulatory risk Contemporary issues like WTO etc. 4. MANAGEMENT PARAMETERS: The management of an enterprise / group is rated on the following parameters: †¢ Integrity ( corporate governance) †¢ Track recordAPJEM Arth Prabhand: A Journal of Economics and Management   Vol. 2 Issue 1, January 2013, ISSN 2278? 0629 †¢ Managerial competence / commitment †¢ Expertise †¢ Structure & systems †¢ Experience in the industry †¢ Credibility : ability to meet sales projections †¢ Credibility : ability to meet profit (PAT) projections †¢ Payment record †¢ Strategic initiatives †¢ Length of relationship with the Bank 5. The risk parameters as mentioned above are individually scored to arrive at an aggregate score of 100 (subject to qualitative factors – negative parameters).The overall score thus obtained (out of a max. of 100) is rated on a 8 point scale from SB1/SBTL1 to SB 8 /SBTL8. SALIENT FEATURES OF CRA MODELS (A) TYPE OF MODELS S. No. (i) (ii) Exposure Level (FB + NFB Limits ) Over Rs. 5. 00 crore Rs 0. 25 crore to Rs. 5. 00 crore Non – Trading S ector (C&I , SSI , AGL) Regular Model Simplified Model Trading Sector ( Trade & Services) Regular Model Simplified Model Pinnacle Research Journals                   15      http://www. pinnaclejournals. com
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