Human Resources Manager Coursework Example | Topics and Well Written Essays - 1000 words

HR Manager - Coursework Example One of the most significant prerequisites in enrolling the correct individual for the activity is instructive accreditations. Ensure that the instruction foundation of the candidates is significant and that all the necessary courses and classes for the offered position are finished. For example, a candidate for the situation of the Quality Control Engineer ought to have attempted courses in Quality Control Engineering and obtained important confirmations according to the courses. Another significant prerequisite in the enrollment procedure is the work understanding of the candidates (Francis, 2012). Given the associations task ahead, it is critical to put resources into representatives that have a decent foundation in what they do to take into consideration most extreme execution and ideal accomplishment of the associations objectives and goals. Work experience includes both the positions held by a person in past workplaces and the historical backdrop of their hard working attitudes. This would be significant in deciding the picked up aptitudes and capacities in taking care of different issues inside their scope of jobs and obligations. The applicants’ past hard working attitudes would decide their communication with different representatives in the authoritative setting and the presentation of exercises in a moral way. The delicate aptitudes of the candidates are additionally a significant prerequisite in deciding their capacities to deal with various circumstances inside the workplace (OMeara, 2013). A portion of the aptitudes, for example, correspondence and cooperation are significant in estimating the applicants’ capacity to work with different individuals from the association in groups. Scholastic fitness upgrades authoritative execution as people set up their gained abilities as a regular occurrence; subsequently improving the presentation of the association (Armstrong, 2012). Then again, work experience advances new methodologies in the association as various people apply changing

Malcolm Hendrix Essays (620 words) - African-American Muslims

Malcolm Hendrix All men are made equivalent. This announcement was the premise of the common right developments of the 1960's. Malcolm X is a man that advanced a general public wherein every single person were similarly regarded. He accepts that blacks ought to accomplish that objective by any implies vital. In when blacks were not permitted to sit in the front of the transport, utilizing a similar washroom, or were not admitted to Universities. Malcolm X's cry of equity was accepted to be the voice of all blacks behind shut entryways. Little grew up as poor and didn't have a lot of parental help. His dad was run over by a road vehicle when he was six. Not long after his dad's demise, his mother was placed in a psychological emergency clinic. He experienced childhood in East Lansing and Boston. He was a pimp, a trickster, sedate client, and a street pharmacist. He worked in the Harlem black market and was nearly executed by his supervisor after he deceived him. Malcolm gone to theft and was gotten by the police and condemned to 10 years of hard work. While in prison, he was acquainted with the Nation of Islam, a Black Muslim gathering, and changed his name to Malcolm X. The X supplanted the slave name that was given by the white experts and represents the his genuine name that he never knew. After his discharge from jail he began lecturing for the Nation of Islam (NOI). His proclaiming was known for its scorn hint. He depicts America as a house with a bomb inside and it is going to detonate. Except if the white individuals need the house to detonate and execute everybody inside, they should take the bomb out and give it their very own place. His discourses were well known among furious blacks and he was every now and again on the first page of the paper. It was supposed that other Nation of Islam individuals were envious about his notoriety and stressed over the force he was picking up. After the JFK death, Malcolm expressed: President Kennedy never predicted that the chickens would return home to perch unexpectedly early... Being an old ranch kid myself, past events working out as expected never made me tragic; they generally made me happy. After numerous demise calls from aggravated Whites, The Nation of Islam began to remove themselves from Malcolm. There was at that point grinding between The Nation of Islam and they didn't need the Nation of Islam to get a terrible name in view of Malcolm. Feeling pressure to leave and felt double-crossed by his congregation, he began the Organization of Afro-American Unity. They had the promise to doing whatever is important to bring the Negro battle from the degree of social liberties to the level of human rights. While giving a discourse in the Audubon Ballroom in Harlem on Feb 21, 1965 he was killed by 3 people all having a place with the NOI. Regardless of whether you like him or not, Malcolm X was appealling pioneer that said the numerous things that must be said amidst the social liberties development. By any methods essential! I'm for opportunity. I'm for a general public wherein our kin are perceived and regarded as individuals, and I accept that we have the privilege to fall back on any methods important to realize that.- Malcolm X, meet with Claude Lewis (December 1964) This announcement and others moved the acknowledgment of preference in the core of America. At whatever point I examination into a past pioneer I generally feel an incredible pity that an extraordinary brain has died with the individual. However, in this one case, there is a little good feeling. Savagery drains brutality. A man that has lectured brutality to propel his motivation was gunned somewhere around 3 men whom he has lectured. They remained over his body and purged their weapons. I trust all individuals can gain from this and push ahead all together country in harmony.

Whos the Writer of Federalist Papers?

Who's the Writer of Federalist Papers?John Jay is considering the author of Federalist Papers by some people, but is he really a writer? How does he do it? Federalist Papers was actually writing with meticulous care to create an argument for one's point of view and has to be read with care. Even though this work is considered as the writer of Federalist Papers, he was not only a writer but a person of moral virtue.The writing of Federalist Papers has been divided into five sections. Those are the introduction, the order, the substance, the division and the conclusion. Although they all belong to the writer of Federalist Papers, his name is actually Jay.Before the writing of Federalist Papers, there was another author named John Jay. He was the president of the court of king George III. He was the one who wrote the first three articles in opposition to King George III and therefore deserves the credit of the author of Federalist Papers. But the actual author of Federalist Papers was t he third leader, Alexander Hamilton.Hamilton had taken the liberty of choosing the best man to write those articles because the articles were his own and he wanted to make sure that no one would take him up on the suggestion of inviting the person who wrote the articles. Thus, the first and the last author of Federalist Papers were the same person, Jay. Jay did write three articles and he was the first one to make use of article.Article in itself is a piece of information that can be interpreted or analyzed by a person. If it is properly understood then it can actually make people understand what the arguments are of the opposing party. So if you want to know the author of Federalist Papers, then you have to look into that what is the author of Federalist Papers, and why he thinks in that way. But you have to be careful when youare reading in those articles, so that you do not take sides.Some people think that the writer of Federalist Papers is simply a very talented person who has great insights, and he uses them to express his opinions about the issues that he believes in. Others consider the writer of Federalist Papers to be a writer because he makes use of a couple of different styles. Thus, it is said that he is a writer of Federalist Papers, so he could be a writer because he used several styles to make his points.Since Hamilton wrote three articles, and he used various styles, it was possible for Jay to use other style of writing, which may have created confusion and bad impression about him. In fact, he was being investigated for alleged plagiarism.It is however said that Jay was being investigated because he was using such kind of style in his writing. However, he also had not plagiarized any article, so that was the problem. In any case, the writer of Federalist Papers has given his credit to Hamilton because Hamilton was the one who introduced the article and gave it a chance to be used as a tool for this purpose.

The Communist Manifesto By Karl Marx And Friedrich Engels

With an Analysis of the four authors and their take on politics and society, it becomes easy clear that their ideas on human reason have become very influential. Each idea has become a basis of reference when it comes to structuring government roles in a variety of nations over the past centuries. Although each idea is extreme in its own way, societies have implemented them into the roles of the government as well as how private property should be handled. John Locke wrote the Second Treatise on Government where his main issue concerns the relationship of people to their government and where the lines are drawn on what the government can do that is acceptable. Niccolo Machiavelli wrote The Prince, in which he argues that people are†¦show more content†¦To explain this deeper, Locke believes that all men are born free of any sort of government, ruler or law. The â€Å"laws of nature† are rules that have been established naturally as a result of people’s attempt at stabilizing a moral path. A man being born free applies to politics and society because the government has the right to tell a man what to do through a set of laws if he does not want to do it. Locke also mentions how people live in â€Å"a state of equality in which no-one has more power and authority than anyone else† (Locke 3). With this quote, Locke wants people to know that everyone is born equal in terms of â€Å"abilities† (Locke 4) and being made by the same maker, God (Locke 4). Being equal emphasizes and reinforces the first example because if we are all made the same way and are capable of the same abilities, then people cannot rule over others and humans have the option to obey the laws set by the government. Locke applies his views on human nature to the construction of the government by saying, â€Å"The only way anyone can strip off his natural liberty and clothe himself in the bonds of civil society is for him to agree with other men to unite into a community, so as to live together comfortably, safely, and peaceably, in a secure enjoyment of their properties and a greater security against outsiders† (Locke 32). Locke expects that the formation of the government should be decided The Communist Manifesto By Karl Marx And Friedrich Engels The Communist Manifesto was written by Karl Marx and Friedrich Engels to begin explaining Communism and its goals. The Manifesto suggests that history acts according to what is called â€Å"class struggle.† The â€Å"means of production† are what truly defines the class relationships according to Marx and Engels (Marx 2002). Inevitably, the classes conflict and become hostile, no longer moving fluidly (Spalding 2000). The Manifesto states that this conflict becomes so severe that it eventually becomes a revolution and one of the classes becomes the ruler of the other, keeping one oppressed while the other flourishes. These two classes by name are the bourgeoisie and the proletariat (Marx ch.2 2002). The bourgeoisie being the highly upper class and the proletariat being everyone else or the â€Å"working class†. It is important to note that Karl Marx was a member of the bourgeoisie himself. He had the ability to recognize the partiality given to the upper class an d the repercussions of this act (Marx 2002). According to this manifesto, the dynamic between the two has shaped the way society has industry where its values originate. Before this, it was traditionally so that society was organized into more complex hierarchies (Spalding 2000). But, as a result of the French Revolution, feudalism was replaced by this newer sense of class order. Instead of having a variety of classes such as nobles, artisans, royalty etc., there were now simply two. There was now a severe demand for moreShow MoreRelatedThe Communist Manifesto By Karl Marx And Friedrich Engels Essay929 Words   |  4 Pagesâ€Å"The Communist Manifesto† – the work of Karl Marx and Friedrich Engels was published on February 21, 1848. This book is the first document of scientific communism and the first program of the international communist organizations and parties. It is the most systematic work of all thoughts and great teachings of Karl Marx and Friedrich Engels. â€Å"The Communist Manifesto† consists of the main statements of the materialistic conception of history, the impartial laws of social development, the laws ofRead MoreThe Communist Manifesto By Karl Marx And Friedrich Engels1746 Words   |  7 Pagesdrawn on what the government can do that is acceptable. Niccolo Machiavelli wrote The Prince, in which he argues that people are naturally immoral and will do what they can, whether good or bad, to maintain well-liked. In The Communist Manifesto by Karl Marx and Friedrich Engels, the main argument is that humans are rational and would be able to govern themselves as a result of have one single class. When thoroughly analyzing each of the political works, it is clear that the main motivating factorsRead MoreThe Communist Manifesto By Karl Marx And Friedrich Engels2286 Words   |  10 PagesIn 1847, a group of radical workers who were called the â€Å"Communist League† met in London. During this meeting, Karl Marx and Friedrich Engels were commissioned to write a mani festo which soon became known as the Communist Manifesto. â€Å"A road map to history’s most important political document.† These words on the cover of one of the books newest editions to The Communist Manifesto represents that this document has been translated into many different form; this particular remake was meant for all levelsRead MoreThe Communist Manifesto By Karl Marx And Friedrich Engels831 Words   |  4 PagesNovember 4, 2015 COMM 8200 Analysis of The Communist Manifesto A spectre is haunting Europe--the spectre of Communism. The Communist Manifesto reflects an attempt by Karl Marx and Friedrich Engels to explain the goals of Communism, as well as the theory behind the movement. Marx sees all of Europe allied against the idea of communism and consistently demonizes it and its followers. This caused the Communists to assemble in London and create this Manifesto in order to make their views public and clarifiedRead MoreThe Communist Manifesto, By Karl Marx And Friedrich Engels Essay1664 Words   |  7 PagesThe Communist Manifesto The Communist Manifesto was drafted under the commission of the Communist League, a body that consisted of a group of radical workers who were disgruntled by the abject poverty of the working class in industrialized Europe. Karl Marx and Friedrich Engels, the authors of the Communist Manifesto, lived at a time when the gap between the rich and the poor was becoming evidently wide, and the working class was struggling to survive. The Communist Manifesto is a result of contextRead MoreThe Communist Manifesto, By Karl Marx And Friedrich Engels1000 Words   |  4 Pagesis the history of class struggles† (Marx). In the year 1848, Karl Marx and Friedrich Engels decided to publish a manifesto after sitting down and sharing ideas for a period of time. Today, that piece of writing is known as The Communist Manifesto. In this book, Marx, the principal author stated that escaping from alienation required a revolution. That was the only possible way in which a political as well as a socia l change could have been seen. Therefore, Marx’ theory implied the use of violenceRead MoreThe Communist Manifesto By Karl Marx And Friedrich Engels835 Words   |  4 Pages The Communist Manifesto is written by Karl Marx and Friedrich Engels which was published by a group of German born revolutionary socialists known as the Communist League. The main idea in this book is define the goals and theory of Communism. It explains how classes affect one another as well. This book consists of four different chapters which display Marx’s approach on Communism in different circumstances. This book is about Marx’s perspective on Communism, its effects, how it is criticized,Read MoreThe Communist Manifesto By Karl Marx And Friedrich Engels1212 Words   |  5 PagesThe history of all hithero existing society is the history of class struggle. (Marx Engels 1848). This statement establishes the setting for the Communist Manifesto written by Karl Marx and Friedrich Engels. A bold proclamation, the Communist Manifesto set the stage at the time for illustrating, so distinctly, a prolonged tension between two opposing and intertwined classes of a capitalis tic economy. Still resonating in contemporary society, class struggle, especially between these two classesRead MoreEssay The Communist Manifesto by Karl Marx and Friedrich Engels958 Words   |  4 PagesThe Communist Manifesto by Karl Marx and Friedrich Engels The Communist Manifesto, written by Karl Marx and Friedrich Engels, outlines how a society should be run under communism. The document provides truths to what is wrong with society; what causes these wrongs; how they can be fixed; and how this relates to humans and nature. Marx was a political philosopher of German ancestry. Marx and Engels split the document up into four sections: Section 1: Bourgeois and Proletarians, section 2:Read MoreManifesto Of The Communist Party, Karl Marx And Friedrich Engels927 Words   |  4 Pages In Manifesto of the Communist Party, Karl Marx and Friedrich Engels outline the issues associated with the division of society into two groups: the bourgeoisie and the proletariat. The bourgeoisie is a group that encompasses modern capitalists. The proletariat group pertains to the modern working class. While these two groups appear in today’s world, the authors make it evident that all throughout history there has been a division in society between oppressors and oppressed. They mention that in The Communist Manifesto By Karl Marx And Friedrich Engels Adam Hilt November 4, 2015 COMM 8200 Analysis of The Communist Manifesto A spectre is haunting Europe--the spectre of Communism. The Communist Manifesto reflects an attempt by Karl Marx and Friedrich Engels to explain the goals of Communism, as well as the theory behind the movement. Marx sees all of Europe allied against the idea of communism and consistently demonizes it and its followers. This caused the Communists to assemble in London and create this Manifesto in order to make their views public and clarified. The main focus of the writing is the relationship between the classes of people. The relationship is used to create the world’s commodities. The upper class runs the factories and the lower class works them, this relationship is the basis of a capitalist economy. However, once that relationship between the classes ceases to be of any benefit to the lower class a revolution occurs and a new class emerges as the rulers. Marx illustrates this process as one that natu rally occurs, â€Å"The history of all hitherto existing societyis the history of class struggles.†Marx saw society as a constant class conflict between the upper class or bourgeoisie and the proletariat or working class. Marx believed that capitalism was quickly becoming incompatible with the unfair treatment of the working class and this would cause the proletariat to lead a revolution. The Manifesto argues that this revolution would be different than the revolutions of the past due to the lack ofShow MoreRelatedThe Communist Manifesto By Karl Marx And Friedrich Engels Essay929 Words   |  4 Pagesâ€Å"The Communist Manifesto† – the work of Karl Marx and Friedrich Engels was published on February 21, 1848. This book is the first document of scientific communism and the first program of the international communist organizations and parties. It is the most systematic work of all thoughts and great teachings of Karl Marx and Friedrich Engels. â€Å"The Commu nist Manifesto† consists of the main statements of the materialistic conception of history, the impartial laws of social development, the laws ofRead MoreThe Communist Manifesto By Karl Marx And Friedrich Engels1746 Words   |  7 Pagesdrawn on what the government can do that is acceptable. Niccolo Machiavelli wrote The Prince, in which he argues that people are naturally immoral and will do what they can, whether good or bad, to maintain well-liked. In The Communist Manifesto by Karl Marx and Friedrich Engels, the main argument is that humans are rational and would be able to govern themselves as a result of have one single class. When thoroughly analyzing each of the political works, it is clear that the main motivating factorsRead MoreThe Communist Manifesto By Karl Marx And Friedrich Engels1255 Words   |  6 PagesThe Communist Manifesto was written by Karl Marx and Friedrich Engels to begin explaining Communism and its goals. The Manifesto suggests that history acts a ccording to what is called â€Å"class struggle.† The â€Å"means of production† are what truly defines the class relationships according to Marx and Engels (Marx 2002). Inevitably, the classes conflict and become hostile, no longer moving fluidly (Spalding 2000). The Manifesto states that this conflict becomes so severe that it eventually becomes a revolutionRead MoreThe Communist Manifesto By Karl Marx And Friedrich Engels2286 Words   |  10 PagesIn 1847, a group of radical workers who were called the â€Å"Communist League† met in London. During this meeting, Karl Marx and Friedrich Engels were commissioned to write a manifesto which soon became known as the Communist Manifesto. â€Å"A road map to history’s most important political document.† These words on the cover of one of the books newest editions to The Communist Manifesto represents that this document has been translated into many different form; this particular remake was meant for a ll levelsRead MoreThe Communist Manifesto, By Karl Marx And Friedrich Engels Essay1664 Words   |  7 PagesThe Communist Manifesto The Communist Manifesto was drafted under the commission of the Communist League, a body that consisted of a group of radical workers who were disgruntled by the abject poverty of the working class in industrialized Europe. Karl Marx and Friedrich Engels, the authors of the Communist Manifesto, lived at a time when the gap between the rich and the poor was becoming evidently wide, and the working class was struggling to survive. The Communist Manifesto is a result of contextRead MoreThe Communist Manifesto, By Karl Marx And Friedrich Engels1000 Words   |  4 Pagesis the history of class struggles† (Marx). In the year 1848, Karl Marx and Friedrich Engels decided to publish a manifesto after sitting down and sharing ideas for a period of time. Today, that piece of writing is known as The Communist Manifesto. In this book, Marx, the principal author stated that escaping from alienation required a revolution. That was the only possible way in which a political as well as a socia l change could have been seen. Therefore, Marx’ theory implied the use of violenceRead MoreThe Communist Manifesto By Karl Marx And Friedrich Engels835 Words   |  4 Pages The Communist Manifesto is written by Karl Marx and Friedrich Engels which was published by a group of German born revolutionary socialists known as the Communist League. The main idea in this book is define the goals and theory of Communism. It explains how classes affect one another as well. This book consists of four different chapters which display Marx’s approach on Communism in different circumstances. This book is about Marx’s perspective on Communism, its effects, how it is criticized,Read MoreThe Communist Manifesto By Karl Marx And Friedrich Engels1212 Words   |  5 PagesThe history of all hithero existing society is the history of class struggle. (Marx Engels 1848). This statement establishes the setting for the Communist Manifesto written by Karl Marx and Friedrich Engels. A bold proclamation, the Communist Manifesto set the stage at the time for illustrating, so distinctly, a prolonged tension between two opposing and intertwined classes of a capitalis tic economy. Still resonating in contemporary society, class struggle, especially between these two classesRead MoreEssay The Communist Manifesto by Karl Marx and Friedrich Engels958 Words   |  4 PagesThe Communist Manifesto by Karl Marx and Friedrich Engels The Communist Manifesto, written by Karl Marx and Friedrich Engels, outlines how a society should be run under communism. The document provides truths to what is wrong with society; what causes these wrongs; how they can be fixed; and how this relates to humans and nature. Marx was a political philosopher of German ancestry. Marx and Engels split the document up into four sections: Section 1: Bourgeois and Proletarians, section 2:Read MoreManifesto Of The Communist Party, Karl Marx And Friedrich Engels927 Words   |  4 Pages In Manifesto of the Communist Party, Karl Marx and Friedrich Engels outline the issues associated with the division of society into two groups: the bourgeoisie and the proletariat. The bourgeoisie is a group that encompasses modern capitalists. The proletariat group pertains to the modern working class. While these two groups appear in today’s world, the authors make it evident that all throughout history there has been a division in society between oppressors and oppressed. They mention that in

Analysis Of Jack London And Eudora Welty s A Fire And A...

Eng. 120 Carolyn Maynard Professor Kirkby 06/18/ 2015 C/C #1 Two Troublesome Journeys In the stories To Build a Fire and A Worn Path, Jack London and Eudora Welty tell the stories of two protagonists going on arduous journeys during the winter. Phoenix Jackson, the protagonist of A Worn Path, is an elderly lady hardened by the trials of life as a black woman living in the Southern United States, prior to the Civil Rights Era. She is surprisingly limber, resilient, and healthy for her age and has assumed the responsibility of caring for her sick seven- year- old grandson. She diligently provides him with the medicine necessary to treat him for the ingestion of lye. The young man, the protagonist in To Build a Fire, is a young northerner who is responsible for himself and his dog. He is besieged by the petulance of youth and ignores the advice of his elders, depending instead on youthful bravado to guide his decisions. Ultimately, on these two journeys of survival, both protagonists will depend on their life experiences to guide them through. The young man will be guide d by his limited life experiences while Phoenix will depend on her wealth of knowledge to choose her path to survival. Phoenix Jackson and The Young Man embarked on their journeys for different reasons. Phoenix’s journey was a necessary journey; her grandson needed the medicine in order to be healthy. She took the journey because of her sense of responsibility and love for her grandson. Like any grandmother,

Avatar as an Allegory - 1879 Words

Avatar as an Allegory HUM3321-14 Sean Gilman Avatar as an Allegory HUM3321-14 Sean Gilman Sean Gilman Jeffrey Bennett HUM3321-14 13 December 2011 Avatar as an Allegory In the 1600s and 1700s, the British began to migrate to and colonize â€Å"The New World†, America. As they arrived, they met a society for whom they displayed little compassion and much hostility. The British invaded their land and oppressed the Native American people for hundreds of years due to their cultural differences and lack of understanding. James Cameron’s 2009 film, Avatar mirrors the discovery of the new world, albeit in a very different light. The American military colonizes and destroys land on Pandora, while showing no regard for the welfare of†¦show more content†¦The reason for the oppression of both the Na’vi and the Native Americans is due to ignorance and dislike of anyone with dissimilar beliefs; as is any oppression or persecution or war in the history of mankind, but I digress. The Na’vi are a truly peaceful and civilized culture. They get along very well with everyone, and they all seem happy and content with their standi ng in life. The Na’vi strongly believe in the spiritual world and everything about it. They have the aforementioned God figure, but to the Americans and any foreigners who don’t share these beliefs, this seems appalling and ridiculous. This is just like the Native Americans and their very differing spiritual religious beliefs. The Europeans saw the Native American ritual and traditions and immediately labeled them as uncivilized savages and a heathen people, all based on an ignorance for other cultures and beliefs. So one could only imagine the amount of vitriol and hate aimed at a ten foot tall, blue humanoid society with a strange language, that rides on bird like creatures and connects themselves with nature. The Americans see this and immediately envision a population that can easily be dominated and moved for their own selfish gain. They have no respect for this culture and everything that it brings to the table. As we see in the film, once some of the avatars, s uch as Jake Sully, find their way into Na’vi society they begin to acquire a deep appreciation and respect for the people of Pandora.Show MoreRelatedDifferent Interpretations Of The Scarlet Letter1609 Words   |  7 Pagesshows that symbolism, allegories, and the different possibilities for interpretation play a vital role in analyzing the novel’s worth by using Pearl and Hester as the main examples for the used literary devices from the novel. In Dr. Carrez’ article, she explains how symbolism plays a major role in The Scarlet Letter by giving the â€Å"simple† characters or object more complex, underlying meanings, especially with Pearl; more specifically with the idea that she is the physical avatar for the scarlet letterRead MoreEssay on The Masque of the Red Death1279 Words   |  6 Pagesan interesting and meaningful story. One of the devices used is imagery, which evokes the events of the story clearly in the reader’s mind. Another is allegory, which is used by Poe to create another story within his, as it is filled with double meanings. Lastly, Poe utilizes symbolism to give the story meaning. Edgar Allan Poe uses imagery, allegory, and symbolism to add dimension to his story and to express the theme that one cannot escape death, no matter how hard one tries. Poe uses imagery toRead MoreAnalysis Of The Stanley The Stanley Parable 1940 Words   |  8 Pagesand the narrator. The relationship between these three is the primary way the game is able to explore certain themes such as player agency, and how much choice matters. According to Astrid Ensslin, â€Å"As players we are made to read [the game] as an allegory of illusory agency built into games to give players the illusion of choice, power and control. In fact, we as players are all Stanley because again and again we willingly or even enthusiastically subject ourselves to the constraints set by the gamesRead MoreLiterary Themes, Styles, And Techniques Of Edgar Allan Poe2358 Words   |  10 Pagesunite with or remember that perfect beauty is symbolized by Poe’s figures of lady Ligeia in â€Å"Ligeia†, Helen in â€Å"To Helen†, and Lenore in â€Å"The Raven.† Wilbur describes how Poe’s stories act as allegories of escaping the mundane, material world through dreaming (102). According to Dictionary.com, an allegory is â€Å"a symbolic narrative; a representation of an abstract or spiritual meaning through concrete or material forms.† Essentially, an allegorical story serves as an extended metaphor and is highlyRead MoreEdgar Allan Poe And Nathaniel Hawthorne848 Words   |  4 Pageswriting is heavily influenced by horrible tragedies in his life. He mainly wrote about murder, death and madmen. The main writing style of Poe is he is very graphic and the main setting of his stories center around very graphic horror. â€Å"Blood was its Avatar and its seal the redness and the horror of blood† (Poe 1). Poe notably uses horrific imagery to paint a picture in the reader s mind. But on occasion Poe will paint an image on what the narrator is thinking instead of the actual image, As shownRead More Capitalism, Marketing, and t he Insidious and Covert Co-optation of the Self6482 Words   |  26 PagesInsidious and Covert Co-optation of the Self Subtitle: A Manifesto for Avatars 1. Introducing Avatars AVATARA-Sanskrit.; ava-down, tarati-he goes, passes beyond literally, a descent, a conception described in the Bhagavad gita, 4th Teaching, 1-8 where Krishna confides: when goodness grows weak, when evil increases, I make myself a body. (OED) Originally referring to the incarnation of Hindu deities, avatars in the computing realms have come to mean any of the various strap-onRead More Encounters with Death in The Masque of Red Death Essays1302 Words   |  6 Pagescharacter, and allegory on The Masque of Red Death a certain aspect of this work has yet to be defined. The plague that devastated a whole countryside could only be described. Could it be that Poe uses this fiction to chronicle his own encounters with death in his own life? To better understand this viewpoint a short summary is incorporated:    The Red Death had long devastated the country. No pestilence had ever been so fatal, or so hideous. Blood was its Avatar and its seal-theRead MoreThe And Theory Of The Tripartite Soul1765 Words   |  8 Pagesmore influence than any set of writings in the Western World apart from the Judeo-Christian Bible. As I dug into the life of Plato, which can be an endless search with overwhelming amount of information, his lasting ideas can be summed up in his allegory of the cave and theory of the tripartite soul. Plato was born in around 424 BCE, from an Athenian family that can be traced back to come notable figures in ancient Greece. Even given his influential and well documented writings, many scholars stillRead MoreFilm Adaptation of William Shakespeares Hamlet1644 Words   |  7 Pagesof Shakespeares play. The film keeps intact every line from the play. Yet, he chooses to take the story out of its Renaissance context and turn it instead into an historical piece of the 18th or 19th centuries. This historical context changes the allegory of the film and instead of a warning about infighting within a monarchy at a time of potential invasion, instead becomes something almost with the feeling of a biopic even though all of the characters are fictional. Any change that is made to theRead MoreWhy Be Moral : A Short Discussion Of Ethical Motivation1697 Words   |  7 Pagesjust the process of arguing and counter-arguing would demonstrate the lack of a proven reason we ought to be moral. Let s push on, though, and continue our survey of answers to the question of why be ethical. Collective Consciousness The movie Avatar featured throughout its main plot line an apparatus which transferred the consciousness of the main characters out of their bodies to the bodies of other creatures. In the Asimov Foundation series, different characters (The Mentalics, The Mule) could

Deep Ocean and Abyssal Communities free essay sample

Exploration of deep ocean and abyssal communities is a very challenging duty for scientists. Deep-Sea Exploration aims to survey and examine the different conditions of the ocean – physically, chemically, and biologically. Such is being conducted for both scientific and commercial reasons. Challenging as it is, the study of abyssal communities still waits for further discoveries and breakthroughs if compared with other fields of research. Studying abyssal communities poses risks to the individuals responsible in performing the job. Their safety and security must be ensured. Special deep-sea machines or submersibles are required to be used. Although with recent innovations and intellectual inventors, the issue on the gadgets and machines to be used is not more of a problem. The troubles or crises concern power and communication, since these are underwater researches. Above it all, the greatest challenge for deep ocean scientists are money and manpower.   They must get relevant financial grants and support from willing and capable institutions. We will write a custom essay sample on Deep Ocean and Abyssal Communities or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page II. Coral Reefs and Human Activities 2. The Florida coral reefs, as well as many Caribbean coral reef communities are threatened by human activities. Discuss what these activities are and what feasible ways are there to protect these diverse marine communities. One of the pressing issues concerning marine life is the declining health of what is considered as the ocean’s tropical forest – the coral reefs.   Being home to a great diversity of species, it remains an alarming matter that these communities are continually threatened by different human activities. Human beings are held liable for some of the activities that destroy the coral reefs. One of these is the destructive fishing practices. Being an economic means, fishing is one of the activities regularly done by the fisher folks, who sometimes resort to illegal or harsh fishing techniques. Examples of which are dynamite fishing, which upon explosion, hastily tears down the surrounding reefs  Ã‚   and using fish nets with very small holes, which captures even the very small fishes that are not yet ready for catching and are still thriving in the reefs. This eventually leads to imbalance in the marine ecosystem. Another human activity damaging the coral reefs is water pollution. Chemicals, business and residential wastes make the water unhealthy for this marine community. Different agents of pollution cloud the water that obstruct or prevent sunlight from getting into the corals. Worse, this eventually leads to the complete destruction or death of the corals. The marine organisms have a difficult time competing for the limited sunlight they receive. One intentional method of destroying coral reefs is for another economic purpose. Divers break the wonderful corals, which later will be sold as souvenir items. On this note, consumers must be alerted that they should not purchase these items as it is not allowed to take or get any species during diving or snorkeling. With all these activities human beings are guilty of, there should be stricter implementation of policies supporting the protection of marine life. There must be consistent monitoring of the activities conducted in the marine communities. One of the more important strategies is to create awareness and appreciation among the people of the significant ecological functions of these diverse coral reefs so they can also act as caretakers instead of destroyers. More educational campaigns and programs must be launched. After the awareness stage should be the involvement process. The communities and the beneficiaries of the water resources should be taught to develop a sense of ownership that will make them protect and conserve the resources they benefit from. Reference: Encarta. Retrieved, April 30, 2007, from http://www.encarta.com/

Faust modern myth about Faust and Mephistopheles

Exposition The story about Faust is well-known and there is no need to describe in detail the story about a person who has sold his soul as the life has lost its colors for him. The German magician wanted to get knowledge, pleasure and powers without implementing any particular power for achieving the desired purposes.Advertising We will write a custom term paper sample on Faust: modern myth about Faust and Mephistopheles specifically for you for only $16.05 $11/page Learn More The moral of the story is whether it is good to get desired knowledge without God’s support or not, whether it is good to go in contradiction to the God’s will and rules (Wright 128). Faust did not want to live in accordance to the God’s rules thinking those too complicated and boring. To get to know something a person should study. To become powerful, one should be strong and posses some particular qualities which are to be learnt and practiced. To get pleasu re from something one should also use his knowledge and apply a force. It is obvious that to have something one should offer something instead. This is exactly what Faust did not want to. Having a desire to avoid the God’ rule, Faustus went to Mephistopheles. Many people have a desire to get something without applying any force. This is exactly the idea in the story. The morale of the myth is that no matter how careless one is about the price he/she pays for the desired issue, this price is painful. In other words, giving money for products people spend earned money, offering the products instead of something they also offer their labor and time spent on getting those products. It is impossible to give something without consequences. Having a desire to sell the soul, Faust was sure that he is selling nothing as this soil was useless for him, but the specific circumstances showed that the soul was really important for him. The value of the sold soul is understood when nothing can be changed even though Faust wants to, having fall in love. This price Faust pays for knowledge, power and pleasure. Everything becomes useless and unnecessary, the action is believed as lack of common sense and too ambitious. Theodore Ziolkowsk in his work The Sin of Knowledge: Ancient Themes and Modern Variations states that Faust is â€Å"the authoritative myth embodying the sin of knowledge for [his] respective culture† (1). The author tries to prove that the sin of knowledge is one of the most important in the story.Advertising Looking for term paper on comparative literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More Considering this problem from the perspective of information possession, it should be noted that receiving knowledge without any attempt is one of the main sins Faust displays. This issue may be related to alchemy and other similar â€Å"sciences† where people thought that they have knowledge, but in fact they possessed nothing. Remembering the time when the legend about Faust was popular and when the play by Christopher Marlowe or by Johann Wolfgang von Goethe was created. The idea of false knowledge was really urgent for people, of those times as well as for the modern. Moreover, it may be stated that the possession of knowledge in the modern world is more valued and the desire to get those without any specific attempt may be even greater. Description Applying the main idea of the Faust to the modern life, culture, customs and traditions, the idea of information possession should also be applied. We live in the modern world, full of innovative technologies, the Internet and online sources of information. The paradox of the modern world is that having a free access to great deal of information, people lack this information with the same extent. The information has become something significant and valued. People are able to pay million dollars to get the data they need and soil is not that important. People are ready to betray their relatives to get the data they need. Considering the variant of Faust myth interpretation from the point of view of the modern culture and applying to the contemporary issues, it may be predicted Faust of the modern times should sell its souls for the freedom of access any data they need online and the possibility for privacy. It is really important to possess the information one needs and to have the private life. The Internet is the world net where experienced and highly-skilled professionals are able to enter any space and consider any account. However, there are too secured sites where information is hardly available. The desire to get access to that information and the desire to have personal data secret may be the reasons for the contemporary Faust to sell the soul. Looking at the spaces online and at the information people present for consideration, it may be predicted that most of the modern people do not understand th e value of information.Advertising We will write a custom term paper sample on Faust: modern myth about Faust and Mephistopheles specifically for you for only $16.05 $11/page Learn More Contemporary Faust should be the one who can value the data and the life in the world professionals are able to know everything about you and you are unable to get any data interesting for you may be considered as the depressive condition. The contemporary Faust is going to look for a person who is able to meet his demands as the life in the world where privacy is almost absent is similar to the life in the world without soul. Various cameras in the supermarkets, in the offices, etc. make human life visible for those who need this information. It is difficult to get rid of this constant observation, that is why the person who is unable to live under such pressure and who wants to possess the world (as people say that those who possess the information – possess the world. This very idea may be dominant in the mind of the contemporary Faust and the Mephistopheles should be the one who has the possibility to give that access. However, it is important to state that the desire to return to the previous life should be explained by the desire to get rid of the knowledge one possesses as in most cases information presupposes responsibility, and the more important information is, the higher the level of the responsibility should be. Interpretation The contemporary myth about Faust should be considered from the perspectives of the modern values. It is hard to find the principles which are valued for all people. Modern world is too cruel, many principles which were valued many years ago are not really important now as people value money most of all. Those who possess the information have an opportunity to possess the information have an opportunity to get money. The selling of the soul to Mephistopheles may have nothing in common with the information a nd power one may get. Some information may be more important for many people and it is a real disaster. The contemporary Faust will sell the soul and will get an access to the information. At the end of his way, he may ask a question which will make him desire to get soil back, â€Å"What should be done with that information?† The information is valued when it is necessary and when it is difficult to find due to its mystery. When the data is easily available it loses its value, it becomes as ordinary as other data.Advertising Looking for term paper on comparative literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More In conclusion, it should be stated that he modern myth about Faust and Mephistopheles should be directed at the principles which are valued in the modern world. The contemporary interpretation is aimed at teaching people that the possession of the information is not everything what people need. The information should be offered to those who really need that information. Additionally, it is really bad that the principles, feelings and the feelings of the personal dignity are not valued anymore. Those who live in the modern world and are ready to sell their souls to Mephistopheles are numerous and it is difficult to distinguish those due to their great number. Moreover, people do not have an intention to say openly about their desire to sell everything they have just to get the data. It is obvious that such people do not have already the soul. Moreover, it is obvious that having sold their souls and having get the desired information, they will remain empty and unsatisfied as such peo ple always want more and more. This is the problem of the contemporary Fausts. Works Cited Wright, Georg Henrik. The Tree of Knowledge and Other Essays. New York: BRILL, 1993. Print. Ziolkowski, Theodore. The Sin of Knowledge: Ancient Themes and Modern Variations. Princeton: Princeton University Press, 2000. Print. This term paper on Faust: modern myth about Faust and Mephistopheles was written and submitted by user Bennett Cabrera to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Blanche and Stella Essay Example

Blanche and Stella Essay Example Blanche and Stella Paper Blanche and Stella Paper Their success in terms of surviving the events of the play In this following essay I intend to discuss how each of the following characters that are Stanley, Mitch, Blanche and Stella use their actions, emotions, and sex to manipulate each other in order to survive and achieve what they have set out to do. In this play each one of the characters has an intention to fulfil a need of their own, for Stanley hes intention is to remain as a dominant force in his and Stellas relationship and not let anyone get in between their love for each other, he also uses sex as one of his strong points to manipulate Stella and lead her to believe that he is right all the way. Mitchs ambition in this play is to find a partner and have a good and stable relationship with them before hes mother dies, he wants to make hes mother proud of him that he is going to have someone else to comfort him after she dies. Blanches need in this play is also to find a partner to comfort her as she had lost her young lover and needs someone to light a bright spark in her life and also to let her forget the tragic death of her past lover which still haunts her through out the play. Stellas desire in this play is a bit like Stanleys she needs to keep her husband in order to survive in this play and she also needs sexual passion from him in order to let their relationship to be a strong bond. I have summarised the characters and their needs in this play, at the end of this play I am going to conclude on who I think did not survive and achieve their needs and which characters did survive an fulfil their needs. Stanley Throughout this play Stanley portrays himself as a dominant and sometimes as a brutal person, he uses his strength, his masculinity, his aggression and sometime even sexual dominance to manipulate those around him. Stanley needs all of these things to survive in this play in order keep his wife and to keep himself on top of everyone else. If Stanley does not get his feelings across to people, he goes hysterical and lets them know straight away an example is when he has finally has had enough of Blanche so he says to her Remember what Huey Long said Every man is a King and I am the King around here so dont forget it. Here is an example of Stanley using his masculinity and dominance to show that he is the King around the house and every one should listen to him and obey his commands. I feel also that Stanley is being sexist here because he is saying that he is a man and men are Kings, he is trying to make Stella and Blanche feel lower than him as he portrays himself as the dominant force in the household. At the beginning of the play when Blanche arrives at Stanleys house he straight away has negative thoughts about her and he feels that she is trying to become the dominant force in the household and he straight away starts using force and trying to turn Stella against Blanche because Blanche is getting all the attention from Stella and Stanley feels she is a threat to his dominance. Stanley at first tries not to use any force against Blanche because she has just arrived and he does not want to give her a bad impression so he therefore tries to use Blanches past to deter Stella away from her, an example of this is when Stanley says Yes did you know there was an army camp near Laurel and your sisters was one of the places called out of bounds what Stanley is doing here he just keeps telling Stella stories from Blanches past and he thinks that sooner or later Stella will believe him and keep away from Blanche. Stanley Kowalski represents the new type of American and leads that sort of lifestyle. I think that Stanleys success in terms of survival is and what he needs is very good he has got rid of Blanche he still has hes wife and he still remains the dominant force in their relationship, Stanley has lost nothing and he has succeeded on what he had set out to do. Blanche Throughout this play the source to Blanches survival is to find somebody that will take care of her and be her comforting partner for the rest of her life. We learn in the play that Blanche used to have a young seventeen year old lover who tragically shot himself after an argument with Blanche.

The Impact of Divorce on Children Research Paper - 2

The Impact of Divorce on Children - Research Paper Example Divorce is one of the events within the family that can affect the development of the children in multitude of ways. The paper is aimed to discuss and to present the impact of divorce on children. To achieve the said objective the background of divorce which includes the date in the past few years will be discussed. Then, the effects of divorce on children specifically the different aspects and facets of development and behavior will be presented. The data were based on gathered empirical studies and reference books related to the topic. Background Information on Divorce For the past decades, recorded data and observations confirmed the detrimental effects of divorce in the life and development of the children. Based on the standard family environment model that focuses on the optimum conditions for the proper development of children, marital conflict and divorce increase the risk of having problems in the behavior of children (Amato and Cheadle, 2008). In the United States, divorce affects approximately 50 percent of the families and one-half to two-thirds of the said percentage remarry. In addition, one in every six adults remarries two or more times which multiply the effects of divorce a few more times. ... Upon the achievement of a particular perspective about divorce, it is important to determine the specific effect of divorce and the aspects that are affected. Different Effects of Divorce on Children In general, children who had experienced divorce can be affected in any or all aspects of their life from the year of the event through adulthood. There are different aspects affected by divorce. The most significant aspect is behavior but aspects such as financial or economic facets of their life can also be affected (Forst and Blomquist, 1991). Behavioral Effects of Divorce Behavioral aspect of the effects of divorce on children is the most significant facet of the issue since it can result not only to short term but also to long term repercussions. Correcting the negative effects on a child to heal himself and lead a normal life can be considered as the main reason for finding solutions and giving attention to the said aspect. Children who had experienced divorce in the family are obs erved to have externalizing problems such as aggression and conduct disorder. Higher levels of antisocial behavior can also be observed in children from a family that encountered divorce as compared to children from an intact family. Internalizing problems such as depression, anxiety, and withdrawal are also included in the probable behavioral issues that can be experienced by children with divorced parents (Forst and Blomquist, 1991, p.61) The first two years of the divorce is considered to be the hardest period for the children due to adjustment issues which are based on the effects of separation to either or both of the parents. The effects of other factors after divorce such as single parenting, visitation, and economic difficulties are also classified

Classical Mythology Research Paper Example | Topics and Well Written Essays - 1500 words

Classical Mythology - Research Paper Example .., University of..., [Address] Contact: Abstract The present essay deals with various modes of portrayal of the character of Ancient Greek goddess, Aphrodite, in belles-lettres (fiction) in the course of progressive development of literature. It will be argued that the changes in perception of Aphrodite’s image have been connected with the gradual shifts from mythological through religious to modern philosophical outlook, and that in different epochs the character of Aphrodite was used to convey radically different discursive meanings. Keywords: history of literature, mythology, Ancient literature The Portrayal of Aphrodite in Literary Works since the Ancient Times till Post-Modernity Introduction There exist different interpretations of myths in the context of literary works, with Ruthven (1976) presenting an especially coherent view of the various aspects of myth in literature. The purpose of the present study will be to provide a complex analysis of changes in representati on of Aphrodite, the Ancient Greek goddess of love, sexuality and beauty, in literature. The temporal boundaries of the study extend all across the historical spectrum, with the representations of Aphrodite in Ancient, Medieval, Renaissance and Baroque literature being expounded and compared. Consequently, the main body of the essay will be constructed in accordance with chronological order. The main purpose of the present study is to show the connection between evolution in perception of Aphrodite as a literary character and the changes in general outlook of writers, and the larger society as well. Therefore it should be noted that in order to understand the image of Aphrodite the connection between literature, mythology and religion needs to be assumed. Interpretation of the Image of Aphrodite in Ancient Literature The perception of character of Aphrodite in the period of antiquity was invariably tied to the mythological and broadly religious attributes and functions, which were a ssociated with this goddess. The very tale of her birth was closely connected with the concept of primal, chthonic powers that symbolized the notion of life force. For instance, according to Hesiod (Theog., 189-206), Aphrodite was born out of the seed of Uranus, when the latter was gelded by his son, Cronus, in a bid for power. When the seed of Uranus fell into the sea, it came into contact with the primal force of the Earth and from this Aphrodite was born. Her traditional epithet, Anadyomene (â€Å"the one rising from the sea†), indicates that the connection between the concepts of primal life force and carnal love among humans was keenly felt by the Ancient Greeks of Hesiodean period. The association between the image of Aphrodite and the concept of primal life force in Hesiodean theogony is further substantiated by Hesiod’s mentioning that the Erynies and Gigantes were born at the same time as Aphrodite, albeit out of Uranus’s blood, not seed. This would mea n that initially Aphrodite was viewed as one of the oldest powers in the universum, rather than a mere progeny of Zeus. Further traces of archaic vision of Aphrodite’s nature and powers are enhanced by Hesiod’s mention of Aphrodite’s connection with Erotos, initially an ancient deity spawned by Chaos (Theog., 116). Erotos is later mentioned as a progeny of Aphrodite (Theog., 934), finally being depicted as a child-like god of love, rather than a potent chthonic entity. This reading of the image of Aphr

Management Information System Essay Example for Free

Management Information System Essay Question 1 : In the 21st century, information technology has emerged as the fundamental technology of business. Explain how it has helped business and state examples of real time situation which you have read about of experienced. Decision Support, Problem Analysis and Overall Control Business managers often need to make decisions that can affect the business fortunes one way or other. For example, a company with sales outlets or distributors spread over a wide geographic area might want to optimize the logistical operations of delivering merchandise to the outlets. The best solution might be affected by numerous factors such as demand patterns, availability of merchandise, distances involved and the option of using external carriers (who can find two way loads and might prove a lesser cost option over long distances) instead of own vehicles. While it might be possible to use complex mathematical formulas by hand to compute the best solution, computers transform the whole process into a routine task of feeding certain information as input and obtaining suggestions for best solutions as output. The task can typically be done in a few minutes (instead of hours or even days) and it becomes possible to examine several alternatives before deciding upon one that seems most realistic. Identifying problems and analysing the factors that cause them also has been transformed by modern computer information systems. In a typical MIS environment, standard reports are generated in a routine manner comparing actual performance against original estimates. The software that generates the report can be instructed to highlight exceptions, i.e. significant variations between original estimates and actual performance. Managers will thus become aware of problem areas in the daily course of their work simply by looking at the reports they receive, without having to do detailed data collection and computations themselves. Identifying the factors responsible for the problem can also be routinized to some extent by using such tools as variance analysis. Variance analysis is an element of standard costing system that splits deviations from estimates (or standards) into causative factors such as increase in price of materials used, excessive usage of materials, unexpected machine downtimes, etc. With such a detailed report, managers can delve deeper into the problem factor, such as why there was excessive usage of materials. Control is also exercised through variance analysis. Budgets are prepared for all business operations by concerned managers working in a coordinated fashion. For example, estimated sales volumes will determine the levels of production; production levels will determine raw material purchases; and so on. With good information system management, it then becomes possible to generate timely reports comparing actual sales, production, raw material deliveries, etc against estimated levels. The reports will help managers to keep a watch on things and take corrective action quickly. For example, the production manager will become aware of falling sales (or rising sales) of particular products and can prepare to make adjustments in production schedules, and purchasing and inventory managers will become quickly aware of any mounting inventories of unused materials. MIS thus enhances the quality of communication all around and can significantly improve the effectiveness of operations control. Effective MIS Involves Humans and Computers Working together The major aspect to note is that MIS provides only the information; it is the responsibility of concerned managers to act on the information. It is the synergy between efficient, accurate and speedy equipment and humans with common sense, intelligence and judgment that really gives power to MIS. As a chartered accountant with business management qualifications and decades of exposure to business in senior to top level positions, Gopinathan helps small to medium businesses with new business start-up, business performance improvement and marketing. He uses structured business modelling techniques to help with all these, and has launched a business support website to provide the help in a convenient manner irrespective of geographical distances and boundaries. Significance Information technology has grown to permeate the business world, affecting how companies make and market their products, as well as how people communicate and accomplish their jobs in modern organizations. Specialized software shapes best-practices and industry standards, continually changing the face of business in almost every way. Information technology management includes many of the basic functions of management, such as staffing, organizing, budgeting and control, but it also has functions that are unique to IT, such as software development, change management, network planning and tech support. Generally, IT is used by organizations to support and compliment their business operations. The advantages brought about by having a dedicated IT department are too great for most organizations to pass up. Some organizations actually use IT as the centre of their business. Positive Impact on Business: First off, I.T. affects how businesses go about with their usual routine. For instance: the technology allows companies to go paperless, depending only on digital databases to store important data. Many pundits see this as a risk; isn’t digital data flimsy and unreliable, they ask. But the shift offers several benefits as well—including reduction in operational cost, since the business no longer has to buy or rent space or equipment just to store data. Information Technology also affects the accuracy of business operations. When a company uses a computerized accounting system instead of relying on a real live accountant, they eliminate (or, at the very least, significantly reduce) human error. And because such systems allow for faster operations, the company’s workers can concentrate on more pressing tasks. The impact of the Management Information System The impact of MIS on the functions is in its management. With a good MIS support, the management of marketing, finance, production and personnel becomes more efficient, the tracking and monitoring the functional targets becomes easy. The functional managers are informed about the progress, achievements and shortfalls in the activity and the targets. The manager is kept alert by providing certain information indicating the probable trends in the various aspects of business. This helps in forecasting and long-term perspective planning. The manager attention is brought to a situation which is exceptional in nature, inducing him to take an action or a decision in the matter. A disciplined information reporting system creates a structured database and a knowledge base for all the people in the organization. The information is available in such a form that it can be used straight away or by blending and analysis, saving the managers valuable time. The MIS creates another impact in the organization which relates to the understanding of the business itself. The MIS begins with the definition of a data entity and its attributes. It uses a dictionary of data, entity and attributes, respectively, designed for information generation in the organization. Since all the information systems use the dictionary, there is common understanding of terms and terminology in the organization bringing clarity in the communication and a similar understanding of an event in the organization. The MIS calls for a systemization of the business operations for an effective system design. This leads to streamlining of the operations which complicate the system design. It improves the administration of the business by bringing a discipline in its operations everybody is required to follow and use systems and procedures. This process brings a high degree of professionalism in the business operations. Since the goals and objective of the MIS are the products of business goals and objectives, it helps indirectly to pull the entire organization in one direction towards the corporate goals and objectives by providing the relevant information to the people in the organization. A well designed system with a focus on the manager makes an impact on the managerial efficiency. The fund of information motivates an enlightened manager to use a variety of tools of the management. It helps him to resort to such exercises as experimentation and modelling. The use of computers enables him to use the tools and techniques which are impossible to use manually. The ready-made packages make this task simpler. The impact is on the managerial ability to perform. It improv es the decision making ability considerably. Communications Technology Leveraging advances in communications technology is imperative to surviving in the modern business world. Advances in cellular phone technology have revolutionized the way businesspeople communicate with clients, employees, suppliers and strategic partners. The Internet has revolutionized the marketing function in addition to opening up a wide range of communication options. Modern smartphones are changing the game yet again with the introduction of new and innovative applications. A small business owner can now access a web-based customer relationship management service on a smartphone from anywhere in the world, for example, allowing him to obtain vital data about contacts before making calls. Accessibility By making communication more convenient, communication technology has helped to make communication more accessible, especially long-distance communication. Through various computer-mediated communication methodscommunication done through the use of a computer, such as email, instant messages, and social networking websitesyou can easily and instantly communicate with people in other cities, states and countries. This is vastly different from early forms of long-distance communication. Early forms of long-distance communication included the use of homing pigeons and/or runners to carry a message to its destination. How long a message would take before reaching its destination depended on the distance between the person sending the message and the person receiving the message. Mass Communication Organizations, like schools and businesses, use electronic communication to share information with a large number of people. Businesses can send mass emails to employees in order to inform workers about things like rule changes and important meetings. Many academic institutions use mass communication in order to maintain a well-informed campus. In case of an emergency, such as a spreading fire or presence of an armed assailant, mass communication can quickly inform people of the situation, giving enough notice to allow people to take the necessary actions to stay safe. Computer-mediated communication can be socially beneficial. For people who are socially awkward, computer-mediated communication such as online forums and chat rooms can help create a more fulfilling social life. For example, someone who fails at personal relationships because he speaks before thinking about the consequences has more control with Internet communication. He can read back his statements before posting, which will likely reduce the number of awkward moments the person creates. Communication technology offers other benefits, as well. Dating websites, for instance, can relieve some of the frustration involved with dating by allowing you to view the profiles of potential dates so you can determine who is the best match for you. This can save you both time and heartbreak. Considerations While information technology solutions can contribute to the success of your organization, there are a number of unique costs to consider. In addition to the cost of implementing an IT solution, you must employ highly educated and specialized workers to maintain, monitor, expand and repair your IT infrastructure. Question 4 : The role of hospital has changed from medical assistance to health care. What are the important information systems required to be considered while implementing front-end application development for hospital management? HOSPITAL INFORMATION SYSTEM (HIS) A hospital information system (HIS) is essentially a computer system that can manage all the information to allow health care providers to do their jobs effectively. These systems have been around since they were first introduced in the 1960s and have evolved with time and the modernization of healthcare facilities. The computers were not as fast in those days and they were not able to provide information in real time as they do today. The staff used them primarily for managing billing and hospital inventory. All this has changed now, and today hospital information systems include the integration of all clinical, financial and administrative applications. Modern HIS includes many applications addressing the needs of various departments in a hospital. They manage the data related to the clinic, finance department, laboratory, nursing, pharmacy and also the radiology and pathology departments. The hospitals that have switched to HIS have access to quick and reliable information including patients’ records illustrating details about their demographics, gender, age etc. By a simple click of the mouse they receive important data pertaining to hospital finance systems, diet of patients, and even the distribution of medications. With this information they can monitor drug usage in the facility and improve its effectiveness. Many hospitals have as many as 200 disparate systems combined into their HIS. Hospital information systems have become very advanced and new innovations are continuously being introduced. But a HIS is useless if it confuses the hospital employees. The system must be user friendly and should include training by the vendors. A good HIS offers numerous benefits to a hospital including but not limited to the delivery of quality patient care and better financial management. The HIS should also be patient centric, medical staff centric, affordable and scalable. The technology changes quickly and if the system is not flexible it will not be able to accommodate hospital growth. COMPONENTS It can be composed of one or a few software components with specialty-specific extensions as well as of a large variety of sub-systems in medical specialties * Laboratory Information System (LIS) * Radiology Information System (RIS) * Clinical Information System (CIS) * Nursing Information Systems (NIS) * Pharmacy Information System (PIS) SOFTWARE COMPONENT Software Component is a system element offering a predefined service or event, and able to communicate with other components. It should be : * Multiple-use * Non-context-specific * Compostable with other components (inter relationship with other components) * Encapsulated i.e., non-investigable through its interfaces * A unit of independent deployment and versioning Laboratory Information System (LIS) Laboratory Information System (LIS) is a software based laboratory and information management system that offers a set of key features that support a modern laboratorys operations. Those key features include but are not limited to workflow and data tracking support, flexible architecture, and smart data exchange interfaces, which fully support its use in regulated environments. The features and uses of a LIMS have evolved over the years from simple sample tracking to an enterprise resource planning tool that manages multiple aspects of laboratory informatics. Due to the rapid pace at which laboratories and their data management needs shift, the definition of LIMS has become somewhat controversial. As the needs of the modern laboratory vary widely from lab to lab, what is needed from a laboratory information management system also shifts. The end result: the definition of a LIMS will shift based on who you ask and what their vision of the modern lab. Radiology Information System (RIS) A radiology information system (RIS) is a networked software suite for managing medical imagery and associated data. An RIS is especially useful for managing radiological records and associated data in a multiple locations and is often used in conjunction with a picture archiving and communication system (PACS) to manage work flow and billing. An RIS has several basic functions: Patient management * An RIS can track a patient’s entire workflow within the radiology department; images and reports can be added to and retrieved from electronic medical records (EMRs) and viewed by authorized radiology staff. Scheduling * Appointments can be made for both in- and out-patients with specific radiology staff. Patient tracking * A patient’s entire radiology history can be tracked from admission to discharge. The history can be coordinated with past, present and future appointments. Results reporting * An RIS can generate statistical reports for a single patient, group of patients or particular procedure. Film tracking * An RIS can track individual films and their associate data. Billing * An RIS facilitates detailed financial record-keeping, electronic payments and automated claims submission. Clinical Information System (CIS) Clinical Information System is a collection of various information technology applications that provides a centralized repository of information related to patient care across distributed locations. This repository represents the patients history of illnesses and interactions with providers by encoding knowledge capable of helping clinicians decide about the patients condition, treatment options, and wellness activities. The repository also encodes the status of decisions, actions underway for those decisions, and relevant information that can help in performing those actions. The database could also hold other information about the patient, including genetic, environmental, and social contexts. Features : * access the medical literature * ask clinical or administrative questions of aggregates of patient data, * receive automatic warnings or suggestions when the patients data satisfy certain logical rules * receive critiques when proposing therapies or ordering diagnostic tests, * access guidelines for standards of care * analyse trade-offs and the likelihood of alternative outcomes (decision analysis) * receive lists of differential diagnoses Nursing Information System (NIS) Nursing information systems is a type of health care management system. It helps nurses use their nursing skills and computer knowledge within a health care environment. A nursing information system has different features and benefits. Features Nurses can self-schedule work hours based on their work shift and departmental needs. Staff nurse managers or nursing administrators can review each nurses schedule and make approvals. Another nursing information system feature includes documenting patient care plans. Benefits One nursing information system benefit includes saving time. For instance, nursing managers can confirm a nurses work availability without contacting each nurse. Nurses can review a patients treatment plan when working outside the office, such as a home care nurse. Pharmacy Information System (PIS) Pharmacy information systems (PIS) are complex computer systems that have been designed to meet the needs of a pharmacy department. Through the use of such systems, pharmacists can supervise and have inputs on how medication is used in a hospital. Some of the activities which Pharmacy Information Systems have been employed in pharmacy departments include: Clinical Screening The Pharmacy Information System can assist in patient care by the monitoring of drug interactions, drug allergies and other possible medication-related complications. When a prescription order is entered, the system can check to see if there are any interactions between two or more drugs taken by the patient simultaneously or with any typical food, any known allergies to the drug, and if the appropriate dosage has been given based on the patient’s age, weight and other physiologic factors. Alerts and flags come up when the system picks up any of these. Prescription Management The Pharmacy Information System can also be used to manage prescription for inpatients and/or outpatients. When prescription orders are received, the orders are matched to available pharmaceutical products and then dispensed accordingly depending on whether the patient is an inpatient or outpatient. It is possible to track all prescriptions passed through the system from who prescribed the drug, when it was prescribed to when it was dispensed. It is also possible to print out prescription labels and instructions on how medication should be taken based on the prescription. Inventory Management Pharmacies require a continuous inventory culture in order to ensure that drugs do not go out of stock. This is made even more difficult when there are multiple dispensing points. When don manually it is very difficult to maintain an accurate inventory. Pharmacy Information Systems aid inventory management by maintaining an internal inventory of all pharmaceutical products, providing alerts when the quantity of an item is below a set quantity and providing an electronic ordering system that recommends the ordering of the affected item and with the appropriate quantity from approved suppliers. Patient Drug Profiles These are patient profiles managed by the Pharmacy Information System and contain details of their current and past medications, known allergies and physiological parameters. These profiles are used for used for clinical screening anytime a prescription is ordered for the patient. Report Generation Most Pharmacy Information Systems can generate reports which range from determining medication usage patterns in the hospital to the cost of drugs purchased and /or dispensed. Interactivity with other systems It is important that Pharmacy Information Systems should be able to interact with other available systems such as the clinical information systems to receive prescription orders and financial information system for billing and charging.

Beyond Good and Evil: Nietzsches Philosophy on Good and Evil Essay exa

Friedrich Nietzsche was a philosopher in the 1800’s. His work has since influenced, impacted, and brought forth new questions for many philosophers to follow. One of Nietzsche’s famous writings Beyond Good and Evil expresses his views on society and the two different classes it holds, slave and master. He expresses his belief that the two are in warfare with one another, the strong (master) fighting for the will to power, while the weak (slave) tries to pull the master down to their level using clandestine forms of revenge. Nietzsche believed the slave morality was one that included humility, obedience, and submission, and was the destructive choice and attribute of Christianity, while the master morality was full of arrogance and pride and that power of man himself is what needs to be attained. Nietzsche sought to prove that the master morality was the only true way to success in life and this was to come at any cost, even the cost of another weaker individual. Nietzsc he’s theories do not hold true against the ultimate truth of the Bible, where in which all has been tried and proven true, time and time again. Master Morality To Nietzsche the master morality was the attribute of the ultimate race, a race not of color or ethnicity, but one that fought for power. The masters were those who by force and power sought after what was good, which included anything that would be helpful. Not concerning them selves with society as a whole, only with rising to power and the responsibility of self. The masters he believed were to dominate the slaves and the slaves should just willingly submit. The master morality was often attributed with qualities such as power, nobility, and independence, placing them beyond good and evil. Striving t... ...God came to give us life but that the enemy comes to kill steal and destroy, so it appears in Nietzsche’s case the enemy won. God made His choices clear and told us what choice to make in Deuteronomy 30:19 where He says chose Him, choose life! Choosing life is choosing God’s way, and His way includes nothing of the master morality Nietzsche claimed so much passion about. I am however saddened about the choice Nietzsche made and angry about the deception of the devil, but I am happy about one thing, that is that I do not have to choose a master or slave morality, rather I choose God, who is the Author and perfector of my faith and we be the Ruler of me and my house for evermore. Work Cited The New Oxford Annotated Bible: With the Apocryphal/Deuterocanonical Books, New Revised Standard Version. Michael D. Coogan, editor. New York: Oxford UP, 2001. Print.

Portfolio Management

A PROJECT REPORT ON PORTFOLIO MANAGEMENT AT SHAREKHAN LTD HYDERABAD A PROJECT REPORT SUBMITTED TO [pic] OSMANIA UNIVERSITY HYDERABAD IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE IN MASTER OF BUSINESS ADMINISTRATION SUBMITTED BY SAFIA MOHAMMADI 1238-11-672-015 VILLA MARIE PG COLLEGE FOR WOMEN SOMAJIGUDA- 82 2011-2013 By DEPARTMENT OF BUSINESS ADMINISTRTIONVILLA MARIE POST GRADUATE COLLEGE, SOMAJIGUDA (Affiliated to Osmania University) 2011-2013 DECLARATION I SAFIA MOHAMMADI student of Master of Business Administration, VILLA MARIE PG COLLEGE FOR WOMEN, hereby declare that the project report entitled â€Å"PORTFOLIO MANAGEMENT† has been carried out at â€Å"SHAREKHAN LTD† and submitted in partial fulfillment for the â€Å"Master’s Degree in Business Administration† in the result of my own work and is original. I have not submitted this project to any other university or college for the award of any other degree or Diploma.SAFIA MOH AMMADI ACKNOWLEDGEMENT A project is never the  work of an individual. It is  moreover a combination of ideas, suggestions, review, contribution and work involving many folks. It cannot be completed without guidelines. I wish to express my gratitude to all those who have made significant contribution to the development and presentation of this project. I express my sense of profound gratitude to the Management of â€Å"SHAREKHAN LTD†, Hyderabad for giving me this opportunity to conduct a study on Portfolio Management in their esteemed organization.My sincere thanks to Mr. DEEPAK, Manager and Ms. SWATHI BASA, Assistant Manager for permitting me to pursue this project and for providing their valuable time, suggestions and support for completing my project work successfully. Their patience and invaluable guidance have proved to be very precious without which this project would not be completed. Acknowledgements are also due to all the other staff members and executives in Sha rekhan Ltd. , for providing information at various points of the project, especially the discussions on the market.I am thankful to our Principal and also I would also like to thank my project guide and all the faculty members of the college for guiding me throughout the process. I also wish to extend my sincere acknowledgement to my parents for their moral and financial support. Lastly, I am indebted to the friends and will-wishers who have extended their support to me during the project. Place: Hyderabad SAFIA MOHAMMADI INDEX | | | |LIST OF CONTENTS |PAGE NO. | | | |CHAPTER-1 | | | | | |INTRODUCTION | | | | | |NEED AND IMPORTANCE OF THE STUDY | | | | | |OBJECTIVE OF THE STUDY | | | | |SCOPE OF THE STUDY | | | | | |DATA COLLECTION METHODS | | | | | |LIMITATIONS OF THE STUDY | | | | | |CHAPTER-2 | | |REVIEW OF LITERATURE | | | | | |CHAPTER-3 | | |COMPANY PROFILE | | | | | |CHAPTER-4 | | |DATA ANALYSIS AND INTERPRETATION | | | | | |CHAPTER-5 | | |CONCLUSION AND SUGGES TIONS | | | | | |QUESTIONNAIRE | | | | | |BIBLIOGRAPHY | | CHAPTER-1 INTRODUCTION PORTFOLIO MANAGEMENT: A portfolio is a collection of assets. The assets may be physical or financial like Shares, Bonds, Debentures, Preference Shares, etc. The individual investor or a fund manager would not like to put all his money in the shares of one company that would amount to great risk.He would therefore, follow the age old maxim that one should not put all the eggs into one basket. By doing so, he can achieve objective to maximize portfolio return and at the same time minimizing the portfolio risk by diversification. Investment may be defined as an activity that commits funds in any financial form in the present with an expectation of receiving additional return in the future. The expectations bring with it a probability that the quantum of return may vary from a minimum to a maximum. This possibility of variation in the actual return is known as investment risk. Thus every investment invo lves a return and risk. Investment is an activity that is undertaken by those who have savings.Savings can be defined as the excess of income over expenditure. An investor earns/expects to earn additional monetary value from the mode of investment that could be in the form of financial assets. The three important characteristics of any financial asset are: †¢ Return-the potential return possible from an asset. †¢ Risk-the variability in returns of the asset form the chances of its value going down/up. †¢ Liquidity-the ease with which an asset can be converted into cash. Investors tend to look at these three characteristics while deciding on their individual preference pattern of investments. Each financial asset will have a certain level of each of these characteristics.An investor invests his funds in portfolio expecting to get a good return consistent with the risk that he has to beat. Portfolio management comprises all the processes involved in the creation & maint enance of an investment portfolio. It deals specifically with Security Analysis, Portfolio Analysis, Selection and Revision & Evaluation. Portfolio Management is a complex process, which tries to make investment activity more rewarding & less risky. ? Portfolio management is the management of various financial assets which comprise the portfolio. ? Portfolio management is a decision – support system that is designed with a view to meet the multi-faced needs of investors.According to Securities and Exchange Board of India Portfolio is defined as: â€Å"portfolio means the total holdings of securities belonging to any person†. ? PORTFOLIO MANAGER means any person who pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of securities or the funds of the client. ? DISCRETIONARY PORTFOLIO MANAGER means a portfol io manager who exercises or may, under a contract relating to portfolio management exercises any degree of discretion as to the investments or management of the portfolio of securities or the funds of the client. Investment avenuesThere are a large number of investment avenues for savers in India. Some of them are marketable and liquid, while others are non-marketable. Some of them are highly risky while some others are almost risk less. Investment avenues can be broadly categorized under the following head. 1. Corporate securities 2. Equity shares. 3. Preference shares. 4. Debentures/Bonds. 5. Derivatives. 6. Others. Joint stock companies in the private sector issue corporate securities. These include equity shares, preference shares, and debentures. Equity shares have variable dividend and hence belong to the high risk-high return category; preference shares and debentures have fixed returns with lower risk.The classification of corporate securities that can be chosen as investmen t avenues can be depicted as shown below: DESIGN OF STUDY NEED AND IMPORTANCE OF THE STUDY †¢ Portfolio management presents the  best investment plan  to the individuals as per their income, budget, age and ability to undertake risks. †¢ Portfolio management  minimizes the risks  involved in investing and also increases the chance of making profits. †¢ Portfolio managers understand the client’s financial needs and suggest the best and unique investment policy for them with minimum risks involved. †¢ It enables the portfolio managers to  provide customized investment solutions  to clients as per their needs and requirements. It also focuses on important aspects like Stability of Income, Capital Growth, Liquidity, Safety, Tax Incentives, etc. †¢ Main goals of Portfolio Management are To Maximize the value of the portfolio, To Seek balance  in the portfolio and To Keep portfolio projects strategically  aligned OBJECTIVES OF THE STUDY: â⠂¬ ¢ To provide the material frame work of Portfolio Management †¢ To understand how to analyze securities †¢ To know how portfolio management is done. †¢ To study the investment pattern and its related risks & returns. †¢ To help the investors to choose wisely between alternative investment. †¢ To understand, analyze and select the best portfolio. To strike balance between costs of funds, risks and returns. †¢ To find out optimal portfolio, which gives optimal return at a minimize risk to the investor. †¢ To see whether the portfolio risk is less than individual risk on whose basis the portfolios are constituted SCOPE OF THE STUDY: †¢ This study covers the Markowitz model. The study covers the calculation of correlations between the different securities in order to find out at what percentage funds should be invested among the companies in the portfolio. Also the study includes the calculation of individual Standard Deviation of securities an d ends at the calculation of weights of individual securities involved in the portfolio.These percentages help in allocating the funds available for investment based on risky portfolios. METHODOLOGY: Sources of Data Collection The Methodology employed in this study data include both the primary and secondary collection methods. Primary collection methods: This method includes the data collected from the personal discussion with the authorized clerks and members of the exchange. Secondary data collection: It includes the following: †¢ Companies Annual Reports †¢ Information From Internet †¢ Publication †¢ Information provided by Stock Exchanges. Period of Study For different companies, financial data has been collected from the year 2007- 2012 Selection of CompaniesCompanies selected for analysis are:- o Wipro o Indian Tobacco Corporation o Dr. Reddy Laboratories o ACC o Bharat Heavy Electricals LIMITATIONS OF THE STUDY: †¢ This study has been conducted purel y to understand portfolio management for investor and is done for requirement of Certificate of MBA. †¢ For study purpose 5 companies have been taken for calculations. †¢ Study is limited to period from 2007-2012. †¢ There was a constraint with regard to time allocated for the research study, period of one and half month. †¢ Study is limited to only first 3 steps of phrases of portfolio management. †¢ Detailed study of the topic was not possible due to limited size of project. The availability of information in the form of annual reports and price fluctuations of the companies was a big constraint to the study. CHAPTER-2 REVIEW OF LITERATURE INTRODUCTION TO PORTFOLIO MANAGEMENT The term Portfolio refers to any collection of financial assets such as stocks, bonds, and cash. Portfolios may be held by individual investors and/or managed by financial professionals, hedge funds, banks and other financial institutions. It is a generally accepted principle that a p ortfolio is designed according to the investor’s risk tolerance, time frame and investment objectives. Portfolio management is all about strengths, weaknesses, opportunities and threats in the choice of debt vs. equity, domestic vs. nternational, growth vs. safety, and many other tradeoffs encountered in the attempt to maximize return at a given appetite for risk. The art and science of making decisions about investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk against performance is known as Portfolio Management. ? PORTFOLIO MANAGER means any person who pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of securities or the funds of the client. DISCRETIONARY PORTFOLIO MANAGER means a portfolio manager who exercises or may, under a c ontract relating to portfolio management exercises any degree of discretion as to the investments or management of the portfolio of securities or the funds of the client. FUNCTIONS OF PORTFOLIO MANAGEMENT: ? To frame the investment strategy and select an investment mix to achieve the desired investment objectives ? To provide a balanced portfolio which not only can hedge against the inflation but can also optimize returns with the associated degree of risk ? To make timely buying and selling of securities ? To maximize the after-tax return by investing in various tax saving investment instruments.STRUCTURE / PROCESS OF TYPICAL PORTFOLIO MANAGEMENT In the small firm, the portfolio manager performs the job of security analyst. In the case of medium and large sized organizations, job function of portfolio manager and security analyst are separate. CHARACTERISTICS OF PORTFOLIO MANAGEMENT: Individuals will benefit immensely by taking portfolio management services for the following reason s: ? Whatever may be the status of the capital market, over the long period capital markets have given an excellent return when compared to other forms of investment. The return from bank deposits, units, etc. , is much less than from the stock market. ? The Indian Stock Markets are very complicated.Though there are thousands of companies that are listed only a few hundred which have the necessary liquidity. Even among these, only some have the growth prospects which are conducive for investment. It is impossible for any individual wishing to invest and sit down and analyse all these intricacies of the market unless he does nothing else. ? Even if an investor is able to understand the intricacies of the market and separate chaff from the grain the trading practices in India are so complicated that it is really a difficult task for an investor to trade in all the major exchanges of India, look after his deliveries and payments. TYPES OF PORTFOLIO MANAGEMENT: Discretionary Portfolio M anagement Service(DPMS):In this type of service, the client parts with his money in favour of the manager, who in return, handles all the paper work, makes all the decisions and gives a good return on the investment and charges fee. In the Discretionary Portfolio Management Service, to maximize the yield, almost all portfolio managers park the funds in the money market securities such as overnight market, 18 days treasury bills and 90 days commercial bills. Normally, the return of such investment varies from 14 to 18 percent, depending on the call money rates prevailing at the time of investment. 2. Non-Discretionary Portfolio Management Service(NDPMS): The manager functions as a counselor, but the investor is free to accept or reject the manager‘s advice; the paper work is also undertaken by manager for a service charge.The manager concentrates on stock market instruments with a portfolio tailor-made to the risk taking ability of the investor. Risk of Portfolio Management The re was a time when portfolio management was an exotic term. The scenario has changed drastically. It is now a familiar term and is widely practiced in India. The theories and concepts relating to portfolio management now find their way to the front pages financial newspapers and the cover pages of investments journals in India. Capital markets have become active. The Indian stock markets are steadily moving towards efficiency, with rapid computerization, increasing higher market transparency, better infrastructure, better customer service etc.The markets are mutual funds have been set up the country since1987. With this development investment in securities has gained considered momentum. Professional portfolio management backed by competent research began to be practiced by mutual funds, investment consultant and big brokers. The Securities Exchange Board of India (SEBI), The Stock Market Regulatory body in India is supervising the whole process. IMPORTANCE OF PORTFOLIO MANAGEMENT: ? Emergence of institutional investing on behalf of individuals. A number of financial institutions, mutual funds and other agencies are undertaking the task of investing money of small investors, on their behalf. Growth in the number and size of investible funds – a large part of household savings is being directed towards financial assets. ? Increased market volatility – risk and return parameters of financial assets are continuously changing because of frequent changes in government‘s industrial and fiscal policies, economic uncertainty and instability. ? Greater use of computers for processing mass of data. ? Professionalization of the field and increasing use of analytical methods (e. g. quantitative techniques) in the investment decision – making ? Larger direct and indirect costs of errors or shortfalls in meeting portfolio objectives – increased competition and greater scrutiny by investors.STEPS IN PORTFOLIO MANAGEMENT: ? Specification and qualification of investor objectives, constraints, and preferences in the form of an investment policy statement. ? Determination and qualification of capital market expectations for the economy, market sectors, industries and individual securities. ? Allocation of assets and determination of appropriate portfolio strategies for each asset class and selection of individual securities. ? Performance measurement and evaluation to ensure attainment of investor objectives. ? Monitoring portfolio factors and responding to changes in investor objectives, constrains and / or capital market expectations. Rebalancing the portfolio when necessary by repeating the asset allocation, portfolio strategy and security selection. CRITERIA FOR PORTFOLIO DECISIONS: †¢ In portfolio management emphasis is put on identifying the collective importance of all investor’s holdings. The emphasis shifts from individual assets selection to a more balanced emphasis on diversification and risk-return interrelationships of individual assets within the portfolio. Individual securities are important only to the extent they affect the aggregate portfolio. In short, all decisions should focus on the impact which the decision will have on the aggregate portfolio of all the assets held. †¢ Portfolio strategy should be molded to the unique needs and characteristics of the portfolio‘s owner. Diversification across securities will reduce a portfolio‘s risk. If the risk and return are lower than the desired level, leverages (borrowing) can be used to achieve the desired level. †¢ Larger portfolio returns come only with larger portfolio risk. The most important decision to make is the amount of risk which is acceptable. †¢ The risk associated with a security type depends on when the investment will be liquidated. Risk is reduced by selecting securities with a payoff close to when the portfolio is to be liquidated. QUALITIES OF PORTFOLIO MANAGER: 1. SOUND GENERAL K NOWLEDGE: Portfolio management is an exciting and challenging job. He has to work in an extremely uncertain and confliction environment.In the stock market every new piece of information affects the value of the securities of different industries in a different way. He must be able to judge and predict the effects of the information he gets. He must have sharp memory, alertness, fast intuition and self-confidence to arrive at quick decisions. 2. ANALYTICAL ABILITY: He must have his own theory to arrive at the intrinsic value of the security. An analysis of the security‘s values, company, etc. is s continuous job of the portfolio manager. A good analyst makes a good financial consultant. The analyst can know the strengths, weaknesses, opportunities of the economy, industry and the company. 3. MARKETING SKILLS: He must be good salesman. He has to convince the clients about the particular security.He has to compete with the stock brokers in the stock market. In this context, the marketing skills help him a lot. 4. EXPERIENCE: In the cyclical behavior of the stock market history is often repeated, therefore the experience of the different phases helps to make rational decisions. The experience of the different types of securities, clients, market trends, etc. , makes a perfect professional manager. PORTFOLIO BUILDING: Portfolio decisions for an individual investor are influenced by a wide variety of factors. Individuals differ greatly in their circumstances and therefore, a financial programme well suited to one individual may be inappropriate for another.Ideally, an individual‘s portfolio should be tailor-made to fit one‘s individual needs. Investor‘s Characteristics: An analysis of an individual‘s investment situation requires a study of personal characteristics such as age, health conditions, personal habits, family responsibilities, business or professional situation, and tax status, all of which affect the investor‘s willin gness to assume risk. Stage in the Life Cycle: One of the most important factors affecting the individual‘s investment objective is his stage in the life cycle. A young person may put greater emphasis on growth and lesser emphasis on liquidity. He can afford to wait for realization of capital gains as his time horizon is large. Family responsibilities:The investor‘s marital status and his responsibilities towards other members of the family can have a large impact on his investment needs and goals. Investor‘s experience: The success of portfolio depends upon the investor‘s knowledge and experience in financial matters. If an investor has an aptitude for financial affairs, he may wish to be more aggressive in his investments. Attitude towards Risk: A person‘s psychological make-up and financial position dictate his ability to assume the risk. Different kinds of securities have different kinds of risks. The higher the risk, the greater the opportunity for higher gain or loss. Liquidity Needs: Liquidity needs vary considerably among individual investors.Investors with regular income from other sources may not worry much about instantaneous liquidity, but individuals who depend heavily upon investment for meeting their general or specific needs, must plan portfolio to match their liquidity needs. Liquidity can be obtained in two ways: 1. by allocating an appropriate percentage of the portfolio to bank deposits, and 2. by requiring that bonds and equities purchased be highly marketable. Tax considerations: Since different individuals, depending upon their incomes, are subjected to different marginal rates of taxes, tax considerations become most important factor in individual‘s portfolio strategy. There are differing tax treatments for investment in various kinds of assets. Time Horizon:In investment planning, time horizon become an important consideration. It is highly variable from individual to individual. Individuals in their young age have long time horizon for planning, they can smooth out and absorb the ups and downs of risky combination. Individuals who are old have smaller time horizon, they generally tend to avoid volatile portfolios. Individual‘s Financial Objectives: In the initial stages, the primary objective of an individual could be to accumulate wealth via regular monthly savings and have an investment programme to achieve long term capital gains. Safety of Principal: The protection of the rupee value of the investment is of prime importance to most investors.The original investment can be recovered only if the security can be readily sold in the market without much loss of value. Assurance of Income: `Different investors have different current income needs. If an individual is dependent of its investment income for current consumption then income received now in the form of dividend and interest payments become primary objective. Investment Risk: All investment decisions revolve arou nd the trade-off between risk and return. All rational investors want a substantial return from their investment. An ability to understand, measure and properly manage investment risk is fundamental to any intelligent investor or a speculator.Frequently, the risk associated with security investment is ignored and only the rewards are emphasized. An investor who does not fully appreciate the risks in security investments will find it difficult to obtain continuing positive results. RISK AND EXPECTED RETURN: There is a positive relationship between the amount of risk and the amount of expected return i. e. , the greater the risk, the larger the expected return and larger the chances of substantial loss. One of the most difficult problems for an investor is to estimate the highest level of risk he is able to assume. [pic] TYPES OF RISKS:- Risk consists of two components. They are 1. Systematic Risk 2. Un-systematic Risk 1. Systematic Risk:Systematic risk is caused by factors external t o the particular company and uncontrollable by the company. The systematic risk affects the market as a whole. Factors affect the systematic risk are ? economic conditions ? political conditions ? sociological changes The systematic risk is unavoidable. Systematic risk is further sub-divided into three types. They are a) Market Risk b) Interest Rate Risk c) Purchasing Power Risk a) Market Risk: One would notice that when the stock market surges up, most stocks post higher price. On the other hand, when the market falls sharply, most common stocks will drop. It is not uncommon to find stock prices falling from time to time while a company‘s earnings are rising and vice-versa.The price of stock may fluctuate widely within a short time even though earnings remain unchanged or relatively stable b) Interest Rate Risk: Interest rate risk is the risk of loss of principal brought about the changes in the interest rate paid on new securities currently being issued. c) Purchasing Power Risk: The typical investor seeks an investment which will give him current income and / or capital appreciation in addition to his original investment. 2. Un-systematic Risk: Un-systematic risk is unique and peculiar to a firm or an industry. The nature and mode of raising finance and paying back the loans, involve the risk element. Financial leverage of the companies that is debt-equity portion of the companies differs from each other.All these factors Factors affect the un-systematic risk and contribute a portion in the total variability of the return. ? Managerial inefficiently ? Technological change in the production process ? Availability of raw materials ? Changes in the consumer preference ? Labour problems The nature and magnitude of the above mentioned factors differ from industry to industry and company to company. They have to be analyzed separately for each industry and firm. Un-systematic risk can be broadly classified into: a) Business Risk b) Financial Risk a. Busines s Risk: Business risk is that portion of the unsystematic risk caused by the operating environment of the business.Business risk arises from the inability of a firm to maintain its competitive edge and growth or stability of the earnings. The volatibility in stock prices due to factors intrinsic to the company itself is known as Business risk. Business risk is concerned with the difference between revenue and earnings before interest and tax. Business risk can be divided into. i) Internal Business Risk Internal business risk is associated with the operational efficiency of the firm. The operational efficiency differs from company to company. The efficiency of operation is reflected on the company‘s achievement of its pre-set goals and the fulfillment of the promises to its investors. ii)External Business RiskExternal business risk is the result of operating conditions imposed on the firm by circumstances beyond its control. The external environments in which it operates exert some pressure on the firm. The external factors are social and regulatory factors, monetary and fiscal policies of the government, business cycle and the general economic environment within which a firm or an industry operates. b. Financial Risk: It refers to the variability of the income to the equity capital due to the debt capital. Financial risk in a company is associated with the capital structure of the company. Capital structure of the company consists of equity funds and borrowed funds. PORTFOLIO ANALYSIS:Various groups of securities when held together behave in a different manner and give interest payments and dividends also, which are different to the analysis of individual securities. A combination of securities held together will give a beneficial result if they are grouped in a manner to secure higher return after taking into consideration the risk element. SELECTION OF PROTFOLIO: The selection of portfolio depends on the various objectives of the investor. The selectio n of portfolio under different objectives are dealt subsequently. Objectives and asset mix: if the main objective is getting adequate amount of current income, sixty per cent of the investment is made on debts and 40 per cent on equities. The proportions of investments on debt and equity differ according to the individual’s preferences.Growth of income and asset mix: Here the investor requires a certain percentage of growth in the income received from his investment. The debt portion of the portfolio may consist of 60 to 100 percent equities and 0 to 40 percent debt instrument. The debt portion of the portfolio may consist of concession regarding tax exemption. Appreciation of principal amount is given third priority. For example computer software, hardware and non-conventional energy producing company shares provides good possibility of growth in dividend. Capital appreciation and asset mix: Capital appreciation means that the valu of the original investment increases over t he years.Investment in real estates like land and house may provide a faster rate of capital appreciation but they lack liquidity. In the capital market, the values of the shares are much higher than their original issue prices. Safety of principal and asset mix: Usually, the risk averse investors are very particular about the stability of principal. According to the life cycle theory, people in the third stage of life also give more importance to the safety of the principal. All the investors have this objective in their mind. No one like to lose his money invested in different assets. Risk and return analysis: The traditional approach to portfolio building has some basic assumptions. First, the individual prefers larger to smaller returns from securities.To achieve this goal, the investor has to take more risk. The ability to achieve higher returns is dependent upon his ability to judge risk and his ability to take specific risks. Diversification: Once the asset mix is determined and the risk and return are analyzed, the final step is the diversification of portfolio. Financial risk can be minimized by commitments to top-quality bonds, but these securities offer poor resistance to inflation. Stocks provide better inflation protection than bonds but are more vulnerable to financial risks. PORTFOLIO CONSTRUCTION: Portfolio is a combination of securities such as stocks, bonds and money market instruments.The process of blending together the broad asset so as to obtain optimum return with minimum risk is called portfolio construction. Diversification of investments helps to spread risk over many assets. A diversification of securities gives the assurance of obtaining the anticipated return on the portfolio. APPROACHES IN PORTFOLIO CONSTRUCTION: There are two approaches in construction of the portfolio of securities. They are ? Traditional approach ? Modern approach TRADITIONAL APPROACH: Traditional approach was based on the fact that risk could be measured on ea ch individual security through the process of finding out the standard deviation and that security should be chosen where the deviation was the lowest.Traditional approach believes that the market is inefficient and the fundamental analyst can take advantage of the situation. Traditional approach is a comprehensive financial plan for the individual. It takes into account the individual needs such as housing, life insurance and pension plans. Traditional approach basically deals with two major decisions. They are a) Determining the objectives of the portfolio b) Selection of securities to be included in the portfolio MODERN APPROACH: Modern approach theory was brought out by Markowitz and Sharpe. It is the combination of securities to get the most efficient portfolio. Combination of securities can be made in many ways. Markowitz developed the theory of diversification through scientific reasoning and method.Modern portfolio theory believes in the maximization of return through a comb ination of securities. The modern approach discusses the relationship between different securities and then draws inter-relationships of risks between them. Markowitz gives more attention to the process of selecting the portfolio. It does not deal with the individual needs. In the modern approach, the final step is asset allocation process that is to choose the portfolio that meets he requirement of the investor. The risk taker i. e. who are willing to accept a higher probability of risk for getting the expected return would choose high risk portfolio. Investor with lower tolerance for risk would choose low level risk portfolio.The risk neutral investor would choose the medium level risk portfolio. MARKOWITZ MODEL: Harry Markowitz opened new vistas to modern portfolio selection by publishing an article in the journal of Finance in March 1952. His publication indicated the importance of correlation among the different stocks reruns in the construction of a stock portfolio. Most peopl e agree that holding two stocks is less risky than holding one stock. For example, holding stocks from textile, banking, and electronic companies is better than investing all the money on the textile company’s stock. But building up the optimal portfolio is very difficult. Markowitz provides an answer to it with the help of risk and return relationship.Markowitz model is a theoretical framework for analysis of risk and return and their relationships. He used statistical analysis for the measurement of risk and mathematical programming for selection of assets in a portfolio in an efficient manner. Markowitz approach determines for the investor the efficient set of portfolio through three important variables i. e. ? Return ? Standard deviation ? Co-efficient of correlation Markowitz model is also called as an â€Å"Full Covariance Modelâ€Å". Through this model the investor can find out the efficient set of portfolio by finding out the tradeoff between risk and return, betwe en the limits of zero and infinity.According to this theory, the effects of one security purchase over the effects of the other security purchase are taken into consideration and then the results are evaluated. Most people agree that holding two stocks is less risky than holding one stock. For example, holding stocks from textile, banking and electronic companies is better than investing all the money on the textile company‘s stock. Markowitz had given up the single stock portfolio and introduced diversification. The single stock portfolio would be preferable if the investor is perfectly certain that his expectation of highest return would turn out to be real. In the world of uncertainty, most of the risk adverse investors would like to join Markowitz rather than keeping a single stock, because diversification reduces the risk. ASSUMPTIONS: All investors would like to earn the maximum rate of return that they can achieve from their investments. ? All investors have the same ex pected single period investment horizon. ? All investors before making any investments have a common goal. This is the avoidance of risk because Investors are risk-averse. ? Investors base their investment decisions on the expected return and standard deviation of returns from a possible investment. ? Perfect markets are assumed (e. g. no taxes and no transaction costs). ? The investor assumes that greater or larger the return that he achieves on his investments, the higher the risk factor surrounds him. On the contrary when risks are low the return can also be expected to be low. The investor can reduce his risk if he adds investments to his portfolio. ? An investor should be able to get higher return for each level of risk â€Å"by determining the efficient set of securitiesâ€Å". ? An individual seller or buyer cannot affect the price of a stock. This assumption is the basic assumption of the perfectly competitive market. ? Investors make their decisions only on the basis of t he expected returns, standard deviation and covariance’s of all pairs of securities. ? Investors are assumed to have homogenous expectations during the decision-making period. ? The investor can lend or borrow any amount of funds at the riskless rate of interest.The riskless rate of interest is the rate of interest offered for the treasury bills or Government securities. ? Investors are risk-averse, so when given a choice between two otherwise identical portfolios, they will choose the one with the lower standard deviation. ? Individual assets are infinitely divisible, meaning that an investor can buy a fraction of a share if he or she so desires. ? There is a risk free rate at which an investor may either lend (i. e. invest) money or borrow money and There is no transaction cost i. e. no cost involved in buying and selling of stocks. ? There is no personal income tax. Hence, the investor is indifferent to the form of return either capital gain or dividend.The Effect Of Combi ning Two Securities: It is believed that holding two securities is less risky than by having only one investment in a person‘s portfolio. When two stocks are taken on a portfolio and if they have negative correlation then risk can be completely reduced because the gain on one can offset the loss on the other. This can be shown with the help of following example: Inter-Active Risk Through Covariance: Covariance of the securities will help in finding out the inter-active risk. When the covariance will be positive then the rates of return of securities move together either upwards or downwards. Alternatively it can also be said that the inter-active risk is positive.Secondly, covariance will be zero on two investments if the rates of return are independent. Holding two securities may reduce the portfolio risk too. The portfolio risk can be calculated with the help of the following formula: CAPITAL ASSET PRICING MODEL (CAPM): Markowitz, William Sharpe, John Lintner and Jan Mossin provided the basic structure for the Capital Asset Pricing Model. It is a model of linear general equilibrium return. In the CAPM theory, the required rate return of an asset is having a linear relationship with asset‘s beta value i. e. undiversifiable or systematic risk (i. e. market related risk) because non market risk can be eliminated by diversification and systematic risk measured by beta.Therefore, the relationship between an assets return and its systematic risk can be expressed by the CAPM, which is also called the Security Market Line. Lending and borrowing:- Here, it is assumed that the investor could borrow or lend any amount of money at riskless rate of interest. When this opportunity is given to the investors, they can mix risk free assets with the risky assets in a portfolio to obtain a desired rate of risk-return combination. Rp =Portfolio return Xf =The proportion of funds invested in risk free assets 1- Xf = The proportion of funds invested in risky assets Rf =Risk free rate of return Rm =Return on risky assets The expected return on the combination of risky and risk free combination is Rp= Rf Xf+ Rm(1- Xf)Formula can be used to calculate the expected returns for different situations, like mixing riskless assets with risky assets, investing only in the risky asset and mixing the borrowing with risky assets. THE CONCEPT: According to CAPM, all investors hold only the market portfolio and risk less securities. The market portfolio is a portfolio comprised of all stocks in the market. Each asset is held in proportion to its market value to the total value of all risky assets. For example, if Reliance Industry share represents 15% of all risky assets, then the market portfolio of the individual investor contains 15% of Satyam Industry shares. At this stage, the investor has the ability to borrow or lend any amount of money at the risk less rate of interest. Eg. assume that borrowing and lending rate to be 12. 5% and the return from the risk y assets to be 20%. There is a tradeoff between the expected return and risk. If an investor invests in risk free assets and risky assets, his risk may be less than what he invests in the risky asset alone. But if he borrows to invest in risky assets, his risk would increase more than he invests his own money in the risky assets. When he borrows to invest, we call it financial leverage. If he invests 50% in risk free assets and 50% in risky assets, his expected return of the portfolio would be Rp= Rf Xf+ Rm(1- Xf) = (12. 5 x 0. 5) + 20 (1-0. 5) = 6. 25 + 10 = 16. 5% if there is a zero investment in risk free asset and 100% in risky asset, the return is Rp= Rf Xf+ Rm(1- Xf) = 0 + 20% i. e. 20% if -0. 5 in risk free asset and 1. 5 in risky asset, the return is Rp= Rf Xf+ Rm(1- Xf) = (12. 5 x -0. 5) + 20 (1. 5) = -6. 25+ 30 = 23. 75% EVALUATION OF PORTFOLIO: Portfolio manager evaluates his portfolio performance and identifies the sources of strengths and weakness. The evaluation of the portfolio provides a feedback about the performance to evolve better management strategy. Even though evaluation of portfolio performance is considered to be the last stage of investment process, it is a continuous process.There are number of situations in which an evaluation becomes necessary and important. i. Self-Valuation: An individual may want to evaluate how well he has done. This is a part of the process of refining his skills and improving his performance over a period of time. ii. Evaluation of Managers: A mutual fund or similar organization might want to evaluate its managers. A mutual fund may have several managers each running a separate fund or sub-fund. It is often necessary to compare the performance of these managers. iii. Evaluation of Mutual Funds: An investor may want to evaluate the various mutual funds operating in the country to decide which, if any, of these should be chosen for investment.A similar need arises in the case of individuals or organizations who engage external agencies for portfolio advisory services. iv. Evaluation of Groups: Academics or researchers may want to evaluate the performance of a whole group of investors and compare it with another group of investors who use different techniques or who have different skills or access to different information. NEED FOR EVALUATION OF PORTFOLIO: ? We can try to evaluate every transaction. Whenever a security is brought or sold, we can attempt to assess whether the decision was correct and profitable. ? We can try to evaluate the performance of a specific security in the portfolio to determine whether it has been worthwhile to include it in our portfolio. We can try to evaluate the performance of portfolio as a whole during the period without examining the performance of individual securities within the portfolio. Portfolio management has emerged as a separate academic discipline in India. Portfolio theory that deals with the rational investment decision-making process has now be come an integral part of financial literature. Investing in securities such as shares, debentures & bonds is profitable well as exciting. It is indeed rewarding but involves a great deal of risk & need artistic skill. Investing in financial securities is now considered to be one of the most risky avenues of investment. It is rare to find investors investing their entire savings in a single security. Instead, they tend to invest in a group of securities.Such group of securities is called as PORTFOLIO. Creation of portfolio helps to reduce risk without sacrificing returns. Portfolio management deals with the analysis of individual securities as well as with the theory & practice of optimally combining securities into portfolios. The modern theory is of the view that by diversification, risk can be reduced. The investor can make diversification either by having a large number of shares of companies in different regions, in different industries or those producing different types of prod uct lines. Modern theory believes in the perspective of combinations of securities under constraints of risk and return.PORTFOLIO REVISION: The portfolio which is once selected has to be continuously reviewed over a period of time and then revised depending on the objectives of the investor. The care taken in construction of portfolio should be extended to the review and revision of the portfolio. Fluctuations that occur in the equity prices cause substantial gain or loss to the investors. The investor should have competence and skill in the revision of the portfolio. The portfolio management process needs frequent changes in the composition of stocks and bonds. In securities, the type of securities to be held should be revised according to the portfolio policy.An investor purchases stock according to his objectives and return risk framework. The prices of stock that he purchases fluctuate, each stock having its own cycle of fluctuations. These price fluctuations may be related to e conomic activity in a country or due to other changed circumstances in the market. If an investor is able to forecast these changes by developing a framework for the future through careful analysis of the behavior and movement of stock prices is in a position to make higher profit than if he was to simply buy securities and hold them through the process of diversification. Mechanical methods are adopted to earn better profit through proper timing.The investor uses formula plans to help him in making decisions for the future by exploiting the fluctuations in prices. PASSIVE MANAGEMENT: Passive management is a process of holding a well diversified portfolio for a long term with the buy and hold approach. Passive management refers to the investor’s attempt to construct a portfolio that resembles the overall market returns. The simplest form of passive management is holding the index fund that is designed to replicate a good and well defined index of the common stock such as BSE- sensex or NSE-Nifty. ACTIVE MANAGEMENT: Active management is holding securities based on gthe forecast about the future.The portfolio managers who pursue active strategy with respect to market components are called ‘market timers’. The portfolio managers vary their cash position or beta of the equity portion of the portfolio based on the market forecast. The managers may indulge in ‘ group rotation’s. here, the group rotation means changing the investment in different industries’ stocks depending on the assessed expectations regarding their future performance. FORMULA PLANS: The formula plans provide the basic rules and regulations for the purchase and sale of securities. The amount to be spent on the different types of securities is fixed. The amount may be fixed either in constant or variable ratio. This depends on the investor‘s attitude towards risk and return.The commonly used formula plans are i. Average Rupee Plan ii. Constant Rupee Plan iii. Constant Ratio Plan iv. Variable Ratio Plan ADVANTAGES: ? Basic rules and regulations for the purchase and sale of securities are provided. ? The rules and regulations are rigid and help to overcome human emotion. ? The investor can earn higher profits by adopting the plans. ? A course of action is formulated according to the investor‘s objectives. ? It controls the buying and selling of securities by the investor. ? It is useful for taking decisions on the timing of investments. DISADVANTAGES: ? The formula plan does not help the selection of the security.The selection of the security has to be done either on the basis of the fundamental or technical analysis. ? It is strict and not flexible with the inherent problem of adjustment. ? The formula plans should be applied for long periods, otherwise the transaction cost may be high. ? Even if the investor adopts the formula plan, he needs forecasting. Market forecasting helps him to identify the best stocks. CHAPTER-3 COMP ANY PROFILE SHAREKHAN LTD Sharekhan Ltd. is one of the leading retail stock broking house of SSKI Group which is running successfully since 1922 in the country. It is the retail broking arm of the Mumbai-based SSKI Group, which has over eight decades of experience in the stock broking business.Sharekhan offers its customers a wide range of equity related services including trade execution on BSE, NSE, Derivatives, depository services, online trading, investment advice etc. The firm’s online trading and investment site – www. sharekhan. com- was launched on Feb 8, 2000. The site gives access to superior content and transaction facility to retail customers across the country. Known for its jargon-free, investor friendly language and high quality research, the site has a registered base of over one lakh customers. The content-rich and research oriented portal has stood out among its contemporaries because of its steadfast dedication to offering customers best-of-breed tec hnology and superior market information.The objective has been to let customers make informed decisions and to simplify the process of investing in stocks. On April 17, 2002 Sharekhan launched Speed Trade, a net-based executable application that emulates the broker terminals along with host of other information relevant to the Day Traders. This was for the first time that a net-based trading station of this caliber was offered to the traders. In the last six months Speed Trade has become a de facto standard for the Day Trading community over the net. Sharekhan’s ground network includes over 640 centers in 280 cities in India which provide a host of trading related services. Sharekhan has always believed in investing in technology to build its business.The company has used some of the best-known names in the IT industry, like Sun  Microsystems,  Oracle,  Microsoft,  Cambridge  Technologies,  Nex genix, Vignette, Verisign Financial Technologies India Ltd, Spider Sof tware Pvt Ltd. To build its trading engine and content. The Morakhiya family holds a majority stake in the company. HSBC, Intel &  Carlyle are the other investors. With a legacy of more than 80 years in the stock markets, the SSKI groupventured  into  institutional  broking  and  corporate  finance  18  years  ago. Presently  SSKI  is  one  of  the  leading  players  in  institutional  broking  andcorporate finance activities. SSKI holds a sizeable portion of the market in each of these segments.SSKI’s institutional broking arm accountsfo7%of  the  market  for  Foreign  Institutional  portfolio  investment  and  5%  of  allDomestic  Institutional  portfolio  investment  in  the  country. It  has  60institutional  clients  spread  over  India,  Far  East,  UK  and  US. ForeignInstitutional Investors generate about 65% of the organization’s revenue, with a daily turnover of over US$ 2 million. The Corporate Finance section has a listof very prestigious clients and has many ‘firsts’ to its credit, in terms of the size of deal, sector tapped etc. The group has placed over US$ 1 billion in private equity deals. PROFILE OF THE COMPANY: Name of the company : Sharekhan ltd.Year of Establishment : 1925 Headquarter : ShareKhan SSKI A-206 Phoenix House Phoenix Mills Compound Lower Parel, Mumbai – Maharashtra, INDIA- 400013 Nature of Business : Service Provider Services : Depository Services, Online Services and Technical Research. Number of Employees : Over 3500 Website : www. sharekhan. com Slogan : Your guide to the financial jungle Vision To be the best  retail brokering Brand in the retail business of stock market. MissionTo educate and empower the individual investor to make better investmentdecisions through quality advice and  superior service Sharekhan is infact: †¢ Among the top 3 branded retail service providers †¢ No . 1 player in online business †¢ Largest network of branded broking outlets in the country serving more than7, 00,000 clients Sharekhan's management team is one of the strongest in the sector and has positioned Sharekhan to take advantage of the growing consumer demand for financial services products in India through investments in research, pan-Indian branch network and an outstanding technology platform. Further, Sharekhan's lineage and relationship with SSKI Group provide it a unique position to understand and leverage the growth of the financial services sector.SSKI Corporate Finance Private Limited (SSKI) is a leading India-based investment bank with strong research-driven focus. Their team members are widely respected for their commitment to transactions and their specialized knowledge in their areas of strength ITA CORE SERVICES ARE: ? Equities, and Derivatives trading on the National Stock Exchange of India Ltd. (NSE), and Bombay Stock Exchange Ltd. (BSE), ? Commodities trading on National Commodity and Derivatives Exchange India(NCDEX) and Multi Commodity Exchange of India Ltd. (MCX), ? Depository services, ? Online trading services, ? IPO Services, ? Dial-n-Trade ? Portfolio management services, Fundamental and Technical Research services, ? In addition to this they also provide advisory services and  distributions for  mutual funds. ? Sharekhan ValueLine (a monthly publication with  reviews of recommendations,stocks to watch out for etc. ) ? Daily research reports and market review (High Noon &  Eagle Eye) ? Pre-market Report ? Daily trading calls based on Technical Analysis ? Cool trading products (Daring Derivatives and Market Strategy) REASONS TO CHOOSE SHAREKHAN: ? Experience : SSKI has more than eight decades of trust and credibility in the Indian Stock Market. In the Asia Money Broker’s Poll held recently, SSKI won the ‘India’s Best broking house for 2004’ award.Ever since it launched Sharekhan as its re tail broking division in February in 2000, it has been providing institutional-level research and broking services to individual investors. ? Technology: With their Online Trading account one can buy and sell shares in an instant from any PC with an internet connection. Customers get access to the powerful online trading tools that will help them to take complete control over their investments in shares. ? Accessibility: Sharekhan provides Advice, Education, Tools and Education services for investors. These services are accessible through many centers across the country (over 650 locations in 150 cities), over the internet (through the website www. sharekhan. ltd) as well as over the voice tool. ? Knowledge:In a business where the right information at the right time can translate into direct profits investors get access to a wide range of information on the content rich portal www. sharekhan. com. Investors will also get a useful set of knowledge-based tools that will empower them t o take informed decisions ? Convenience: One can call Sharekhan’s Dial-N-Trade number to get investment advice and execute his/her transactions. They have a dedicated call-center to provide this service via a Toll Free Number 1800 22-7500 & 39707500 from anywhere in India. ? Customer Service: Its customer service team assist their customer for any help that they need relating to transactions, billing, demat and other queries.Their customer service can be contacted via a toll-free number, email or live chat on www. sharekhan. com. ? Investment Advice: Sharekhan has dedicated research teams of more than 30 people for fundamental and technical research. Their analysts constantly track the pulse of the market and provide timelyinvestment advice to customer in the form of daily research emails, online chat, printed reports etc. SHAREKHAN LIMITED’S MANAGEMENT TEAM †¢ Dinesh  Murikya   :   Owner  of  the  company †¢   Tarun  Shah   :   CEO  ofà ‚  the  company †¢ Shankar  Vailaya   :   Director  (Operations) †¢   Jaideep  Arora :   Director  (Products  &  Technology) †¢ Pathik  Gandotra :   Head  of  Research Rishi  Kohli   :   Vice  President  of  Equity  Derivatives †¢ Nikhil  Vora :   Vice  President  of  Research BENEFITS †¢ Free Depository A/c †¢ Instant Cash Transfer †¢ Multiple Bank Option. †¢ Secure Order by Voice Tool Dial-n-Trade. †¢ Automated Portfolio to keep track of the value of your actual purchases. †¢ 24*7 Voice Tool access to your trading account. †¢ Personalized Price and Account Alerts delivered instantly to your mobile phone †¢ Live chat facility with Relationship manager on Yahoo Messenger. †¢ Special Personal inbox for order and trade confirmations. †¢ On-line customer service via web chat. †¢ Enjoy automated Portfolio. Buy or sell even single share. †¢ Anytime orderin g. Sharekhan provides 4 in 1 account: *Demat a/c *Bank a/c: for fund transfer *Dial and Trade: for query relating trading *Trading a/c: for cash calculation DEMAT ACCOUNT: Sharekhan  is  a  depository  participant. This  means  that  we  can  keep  the  shares  in dematerialized form  in  Sharekhan. But  for  this  one  has  to  the  demat  account  in Sharekhan. Dematerialization is the process by which a client can get physical certificates converted into electronic balances maintained in his account with the DP. In Sharekhan, under demat account there are two types of terminals Classic and Trade Tiger. ACCOUNT OPENING:Opening a DP account with Sharekhan-One can open a Depository Participant (DP) account, either through a Sharekhan branch or through a Sharekhan Franchisee center. There is no fee for opening DP accounts with Sharekhan. However a nominal deposit (refundable) is charged towards services which will be adjusted against all future billings. All investors have to submit their proof of identity and proof of address along with the  prescribed account opening form. CLASSICAL ACCOUNT: This is a user friendly product which allow the client to trade through website www. sharekhan. com and is suitable for all the retial investors who is risk averse and hence prefers to invest in stocks or who does not trade too frequently Features Online trading account for investing in equity and derivatives via www. sharekhan. com †¢ Live Terminal and Single terminal for NSE Cash, NSE F&O & BSE. †¢ Integration of On-line trading, Saving Bank and Demat Account. †¢ Instant cash transfer facility against purchase & sale of shares. †¢ Competitive transaction charges. †¢ Instant order and trade confirmation by E-mail. †¢ Streaming Quotes (Cash & Derivatives). †¢ Personalized market watch. †¢ Single screen interface for Cash and derivatives and more. †¢ Provision to enter price trigge r and view the same online in market watch. SPEEDTRADE SPEEDTRADE is an internet-based software application that enables you to buy and sell inan instant.