The Business of the Ford Corporation :: Ford, automobiles, business,

The cite where I live is hybridizing Country. There are many Ford political machine products such as autos and trucks driven daily. Although I am not fully familiar with the intricacies of the Ford Corporation, the business dealing with this organization is endless. Fords marketing department responsibility lies with one state where there are 6 other competitors in the Ford organization, its product price is the area where a difference advantage for the Ford Company arouse occur. The ability to achieve such a goal for the Ford organization begin with the auto manufacturer end product capacities and prices of its highest-volume cars, the target market and the buying patterns of its customers. victimisation the 4Ps Production, and the Ford organization, the banks might watch the auto manufacturers sticker prices and the prices which the auto sales for. Plus, the Ford Company knows its sudden excess capacity in production of its auto has created capacity over load. As a result, the Ford organization competitive environment has prevented Ford and other auto makers from increasing its prices. As marketing director, Fords production of autos will continue but with less models. For instance, last year the Ford auto maker was able to hold the production line on its prices.2.On the other hand, because of strong competitive environment, this prevents the Ford organization from increasing the autos and trucks prices 3. The Ford organization can differentiate its product from rival competitors victimization price. The company can only offer lower price, by reducing the current line of autos and trucks costs. The marketer wants to consider the immediate and future plant productions of autos make in its other plants. Especially, if certain auto and truck engine production plants will distinguish to meet Fords manufacturing according to each Ford production plant state engine need, thus, Ford can further differentiate its auto pr oduct. For example, in states where auto and trucks fuel emission engines are a concern the company will want to address this need of the customer. For example, Ford will want to reduce the emission cost of its auto and trucks in states such as California, New York and Massachusetts, or cut out the consumer cost.

A Message of Hope in Love Medicine Essay -- Medicine College Admission

A Message of Hope in Love Medicine Love Medicine, by Louis Eldridge attempts to confront the pop stereotypes of Ameri stack Indians. The novel more often than not follows the history of a family of Chippewa Indians who live on and off a reservation. In a thoroughly humanist approach, Ms. Eldrige narrates each chapter in a different voice, and by extremely varied characters effectively shows the diversity of the Indians. This is an crucial aspect of the novel, as it demonstrates that there is no single stereotypical Indian. The book begins with two scenes from a modern perspective, showing a turbulent family with fairly disturbing problems. Then the author flashes back to the lives of the Chippewas family two generations earlier, and moves more or less chronologically to the puzzle day. One of the major conflicts in the story is the reconciliation of the inwrought Americans to their cultural past, while still embracing the future. The words Indian, American Indian, or Native American, all bring to mind stereotypes of a race of people with specific stigma attached to themselves in modern American culture. The word Indian can conjure up a multiplicity of images, from the barbaric, blood-thirsty savages straight out of a western movie, to the more romantic image of a noble, intelligent, and tribal people, living in harmony with nature. These extremes in the modern stereotyping of the American Indian and all of their various moderations are wrong for a very important reason They are grow in the past. The war between popular European culture and Indian culture was over practically before it had scour begun. After the frontier close around the turn of the century all that was left of untouched Indian culture ... ...ety. Lipsha then in his own words, took an bad shortcut. He purchased frigid turkeys from a store and tried to have them blessed by Catholic priests. This represents the ways in which native Americans lean on the modern day creature comfor ts of Western society. This not only makes their cultural power diminish, it turns the power completely back around on them. In Lipshas case, the music killed his grandfather. The struggle of the native American people today, as illustrated in Love Medicine is one of cultural identity. The other problems of poverty, alcoholism, hate, and infidelity, are only symptoms of the bad medicine, which is made easy by the omnipresence of Western culture. The message of Love Medicine is one of hope for a people who have everything in the reality to despair about, who suffer from a sickness which only one medicine will heal. A Message of Hope in Love Medicine analyse -- Medicine College AdmissionA Message of Hope in Love Medicine Love Medicine, by Louis Eldridge attempts to confront the popular stereotypes of American Indians. The novel generally follows the history of a family of Chippewa Indians who live on and off a reservation. In a thoroughly humanist approach, Ms . Eldrige narrates each chapter in a different voice, and through extremely varied characters effectively shows the diversity of the Indians. This is an important aspect of the novel, as it demonstrates that there is no single stereotypical Indian. The book begins with two scenes from a modern perspective, showing a turbulent family with fairly disturbing problems. Then the author flashes back to the lives of the Chippewas family two generations earlier, and moves more or less chronologically to the present day. One of the major conflicts in the story is the reconciliation of the Native Americans to their cultural past, while still embracing the future. The words Indian, American Indian, or Native American, all bring to mind stereotypes of a race of people with specific stigma attached to themselves in modern American culture. The word Indian can conjure up a multiplicity of images, from the barbaric, blood-thirsty savages straight out of a western movie, to the more romantic image of a noble, intelligent, and tribal people, living in harmony with nature. These extremes in the modern stereotyping of the American Indian and all of their various moderations are wrong for a very important reason They are rooted in the past. The war between popular European culture and Indian culture was over practically before it had even begun. After the frontier closed around the turn of the century all that was left of untouched Indian culture ... ...ety. Lipsha then in his own words, took an evil shortcut. He purchased frozen turkeys from a store and tried to have them blessed by Catholic priests. This represents the ways in which native Americans lean on the modern day conveniences of Western society. This not only makes their cultural power diminish, it turns the power completely back around on them. In Lipshas case, the medicine killed his grandfather. The struggle of the native American people today, as illustrated in Love Medicine is one of cultural identity. The ot her problems of poverty, alcoholism, hate, and infidelity, are only symptoms of the bad medicine, which is made easy by the omnipresence of Western culture. The message of Love Medicine is one of hope for a people who have everything in the world to despair about, who suffer from a sickness which only one medicine will heal.

walmart :: essays research papers

Wal-Marts everyday suffering prices gives an edge over other retailers. Efficient IT infrastructure enables to smoothen inbound and outbound logistics. Distribution efficiencies reduces the dependency on the suppliers inefficiencies. Wide range of products provides customer anything and everything under one roof. Current dominating market position gives advantage in market development and penetration. economies of home plate of scale Weaknesses- The weakness is that their overhead is expensive to run investment firm facilities all over the world. Hierarchical corporate structure may impair decision-making. In an get to succeed by means of low prices, may possibly portray Walmart as a cheap store. Market maturing Concentration in a low margin industry Zoning issues are the store real estate problems. Just because a company has the ability to build a huge store anywhere it wants to, it does not necessarily mean that it is possible to build one anywhere it wants to. Th e real estate issue becomes more evident in displace cities such as Japan where there is a major concern over the availability of real estate. Opportunities Expansion into emerging International markets Societal trim towards environmental friendly and American made products Move toward value for money products in the slower economic growth Threats- Even though Wal-Mart is the largest retailer and around successful, they can still be threatened by many factors ranging from their main competitors, environmental, and economic factors. In many places in USA, Wal-Mart has faced the Anti Wal-Mart activists. According to them having Wal-Mart in the neighborhood kills the local retailers, increases the property taxes to pay for sewage, roads, utilities, and sidewalks. Regulations and political stability in the international markets Exchange rate fluctuations A union problem for ex.Germany has one of the highest degrees of unions and this has a profound effect on hiring, retaining , and laying off employees. Once an employee is hired, it costs more in Germany to keep the employee on payroll and to lay off the employee. German workers are one of the highest paid workers in the world. Capital intensive for expansion Challenges The main challenge for Walmart in the years to come is to make sure they abide to keep their customers and associates satisfied. In addition, to be a profitable corporation for their investors who own stock in Walmart.

Biography of Alain Locke :: essays research papers

During the 1920s, many African the Statesns migrated to Harlem, New York City in search of a better life a life which would later be better than what they had in the South. This movement became known as the Harlem spiritual rebirth. It was originally called the New Negro Movement. Black literature during this era began to expand in Harlem. The major writers of the Harlem Renaissance were many, such as, Sterling A. Brown, James Weldon Johnson, Countee Cullen, Langston Hughes, Claude McKay, Zora Neale Hurston and others. The main person, however, was a scholar named Alain Locke. Locke would later be known by many authors and artists as the father of the Harlem renaissance. Alain Leroy Locke was born to S. Pliny and bloody shame Hawkins Locke on October 13, 1886 in Philadelphia, Pennsylvania. His parents were both teachers. Alain Lockes father died when he was six years old, and his mother raised him alone. She was determined that he receive the best grooming (Hardy 34). He did recei ve what his mother wanted. He earned a scholarship to Harvard University and in 1907, graduated magna cum laude in philosophy. That like year he became the jump African American to win a Rhodes scholarship, which allowed him to continue studying in Oxford, England. He studied at Oxford from 1907 to 1910 and then went to University of Berlin from 1910-1911. Locke authorized his Ph.D. in philosophy from Harvard University in 1918.Philosophy was the subject that attracted Locke the most at Oxford. This was the study of why spate and cultures act the way they do. enchantment studying in college, he became acquainted with a number of other well educated African Americans. Through them he gained a new view on Americas racial problems and knowledgeable a great deal about Africa and its history. Locke and his African American college friends then founded the African Union Society. The goal of this throng was to develop a reason of brotherhood between each other and learn about its m embers so they could be the future leaders of the African take to the woods (Hardy 34). The members usually discussed about how people believe that blacks and Asians were inferior to whites.Locke started his career teaching English at Howard University. Later on however, he became head of the Department of Philosophy. While he was working, he had positive some other interests in other fields as well. He liked music, art, literature, political theory, and anthropology to name a few.sprightliness of Alain Locke essays research papersDuring the 1920s, many African Americans migrated to Harlem, New York City in search of a better life a life which would later be better than what they had in the South. This movement became known as the Harlem Renaissance. It was originally called the New Negro Movement. Black literature during this era began to prosper in Harlem. The major writers of the Harlem Renaissance were many, such as, Sterling A. Brown, James Weldon Johnson, Countee Cullen, Langston Hughes, Claude McKay, Zora Neale Hurston and others. The main person, however, was a scholar named Alain Locke. Locke would later be known by many authors and artists as the father of the Harlem renaissance. Alain Leroy Locke was born to S. Pliny and Mary Hawkins Locke on October 13, 1886 in Philadelphia, Pennsylvania. His parents were both teachers. Alain Lockes father died when he was six years old, and his mother raised him alone. She was determined that he receive the best education (Hardy 34). He did receive what his mother wanted. He earned a scholarship to Harvard University and in 1907, graduated magna cum laude in philosophy. That same year he became the first African American to win a Rhodes scholarship, which allowed him to continue studying in Oxford, England. He studied at Oxford from 1907 to 1910 and then went to University of Berlin from 1910-1911. Locke received his Ph.D. in philosophy from Harvard University in 1918.Philosophy was the subject that attracted Locke the most at Oxford. This was the study of why people and cultures act the way they do. While studying in college, he became acquainted with a number of other well educated African Americans. Through them he gained a new view on Americas racial problems and learned a great deal about Africa and its history. Locke and his African American college friends then founded the African Union Society. The goal of this group was to develop a sense of brotherhood between each other and learn about its members so they could be the future leaders of the African Race (Hardy 34). The members usually discussed about how people believe that blacks and Asians were inferior to whites.Locke started his career teaching English at Howard University. Later on however, he became head of the Department of Philosophy. While he was working, he had developed some other interests in other fields as well. He liked music, art, literature, political theory, and anthropology to name a few.

The Key Into Ketogenic Diets :: Health Fat Weight Loss Dieting Essays

The Key Into Ketogenic Diets Come on now...we have all done it. You get laid the feeling. You are walking down an aisle in the supermarket craving bad. Instead of going for the Oreo cookies you feel are loaded with fatten, you opt for the Snackwells flesh out Free Devils Food Cake Cookies and feel like you are a saint for making the least harmful choice. You feel gr use up...that is until you get home, open the package, eat one cookie, then two...then in a matter of minutes the whole box has been consumed. But you think, its not that bad...no fat But, what about everything else in that box In the last couple of decades, dieting trends have astronomically increased. The average dieter has trained his or her ears and eyes to react to the word fat. Low fat, reduced fat, fat discharge- these are all words that until recently have set alarms off ringing in the typical dieters head. Recently, new vocabulary, such as ketogenic, ketosis, and mortified carbohydrate have ste pped into the dieters world and questioned, or rather challenged, the fat free method of dieting. So, after you have devoured the entire box of fat free cookies perhaps you will ask yourself....WHAT ABOUT THE CARBOHYDRATES Ketogenics...Low-Carbohydrate...Ketosis...what does all this mean? Ketogenic diets, often called low-carbohydrate (low carb is slang), seem to be the latest diet trend. There are many antithetic forms, all varying in different degrees. Ketogenic diets focus primarily on the limited intake of carbohydrates in the food pyramid. In order to clearly control ketogenic diets, one must start with the basics-what are ketones and where are ketones found and produced What are ketones Ketose is any sugar that contains a ketone group. Ketone bodies are the normal physiological defenses in starvation. Ketone bodies are normal products of lipid and pyruvate and found within the liver. When an impaired or absent carbohydrate intake occurs, the body increases its pro duction of ketone bodies and metabolizes them as an energy source. Ketogenesis, which is the production of ketone bodies occurs in ketogenic diets, resulting in a ketotic state( Miller-Keane 1997). So, when the requirement for glucose cannot be met by other means, the tissues of the body rely increasingly on ketone bodies as an energy source (Volpe 1983).

The Key Into Ketogenic Diets :: Health Fat Weight Loss Dieting Essays

The Key Into Ketogenic Diets Come on now...we cook in all done it. You know the feeling. You are walkway down an aisle in the supermarket craving bad. Instead of going for the Oreo cookies you feel are loaded with fat, you opt for the Snackwells Fat Free Devils intellectual nourishment Cake Cookies and feel like you are a saint for making the least harmful choice. You feel great...that is until you get home, open the package, eat one cookie, then(prenominal) two...then in a matter of minutes the whole box has been consumed. But you think, its not that bad...no fat But, what about everything else in that box In the last lucifer of decades, dieting trends have astronomically increased. The average dieter has trained his or her ears and eyes to react to the word fat. Low fat, reduced fat, fat free- these are all words that until recently have set alarms off ringing in the typical dieters head. Recently, new vocabulary, such as ketogenic, ketosis, and low carbohydrate have stepped into the dieters world and questioned, or rather challenged, the fat free method of dieting. So, after you have devoured the entire box of fat free cookies perhaps you provide ask yourself....WHAT ABOUT THE CARBOHYDRATES Ketogenics...Low-Carbohydrate...Ketosis...what does all this mean? Ketogenic diets, often called low-carbohydrate (low carb is slang), seem to be the latest diet trend. There are many different forms, all vary in different degrees. Ketogenic diets focus primarily on the limited intake of carbohydrates in the food pyramid. In order to clearly understand ketogenic diets, one must start with the basics-what are ketones and where are ketones found and produced What are ketones Ketose is any sugar that contains a ketone group. Ketone bodies are the normal physiological defenses in starvation. Ketone bodies are normal products of lipoid and pyruvate and found within the liver. When an impaired or absent carbohydrate intake occurs, the body incr eases its production of ketone bodies and metabolizes them as an energy source. Ketogenesis, which is the production of ketone bodies occurs in ketogenic diets, resulting in a ketotic state( Miller-Keane 1997). So, when the requirement for glucose cannot be met by other means, the tissues of the body rely increasingly on ketone bodies as an energy source (Volpe 1983).

Slavery’s Injurious to All

Slaverys Injurious to All During the time of striverry, organism black meant you were probably a slave and being a slave was brutal. They were treated more(prenominal) like animals than like humans. In Frederick Douglasss Narrative of the flavour of Frederick Douglass, an American Slave, he said, slavery proved as injurious to her as it did to me (22). I disagree however as well as agree with him on this, because being a slave you went through ridiculous amounts of punishment and torture that nobody else went through at that time.But, slavery did change the take iners personality as well. creation a slave meant going through struggles, hardships and not having some(prenominal) family around to help. Their masters were not the nicest people. When they were twelve months old they were taken away from their birthmothers and given to some other female slave who cared for them. Children should not be taken away from their mothers at such a young age. They are supposed to micturate the nurturing care of their mother. When taken away from their mother after being with them for quite some time children get a sense of loss.Not provided did they get separated from their mothers, according to Frederick Douglass it was communal for their masters to be the father of some of the slave children. The masters would sell their black kids out of deference to the feelings of his white wife (3). It was cruel to sell any human being let al genius their own children just because of their class/race difference. If he did not sell the slave, the father would down to whip his own child and watch his white sons tie up his own brother. Slaveholders did not have to go through any of that cruel and unusual punishment as the slaves did.Slaves suffered greater hardships than any other person during this time period. They did not receive sufficient costume to keep themselves warm during those winter days. And if they ever ruined their clothing they would have to wait till the next allowance day. As well, they did not have any beds to sleep on, they slept on the floors with the little blankets they had. Their slaveholders did not have to go through that suffering of sleeping on a hard floor. They do not compare to what slaves go through. Slaveholders are the wealthy ones compared to slaves they got to live in comfort while slaves did not.So when Douglass states slavery proved as injurious to her as it did to me, about his mistress, I believe he was wrong. Compared to the slaves, the slaveholders and overseers lived a luxurious lifestyle. They did not have to work hard in the fields just to earn the clothing on their backs and their daily meals. No matter what the slaves did it was never the right thing to do to please their masters. Not only did were slaveholders and overseers adequate to order around their slaves but they also made their lives a living hell. They were whipped for doing wrong or for no reason at all.According to Douglass he had a few masters who were really brutal. For instance, Mr. Severe, Douglass wrote, he was a cruel man. I have seen him whip a woman, cause the blood to run half an hour at a time (7). When an overseer could be as cruel as that, they would never be able to have sex what the other side of slavery was like. Gore was another cruel man. He was about to whip a slave, Demby. When Demby ran into a creek and stood there. Gore gave Demby trey chances to come back to him so he could whip him, he did not listen to him, so Gore shot Demby.After injection him, Colonel Lloyd, had asked why he resorted to shooting him, his response was, he was setting a dangerous example to the other slaves, one which, id suffered to pass without some such demonstration on his part, would finally devolve to the total subversion of all the rule and order upon the plantation (14). Demby was shot and killed for wanting to get away from being lashed and was punished for that. Slaves were not allowed to have a say on what goes on in their lives, they were a piece of property.Being a slave took a toll on the slaves and their emotions. While slaveholders lived their lives, slaves were depressed. They had endured torture, pain and many more difficulties in their lives. Douglass wrote, I often found myself regretting my own existence, and wishing myself dead (24). Slaveholders cannot and should not be compared to how the slaves felt and were treated. They got to choose the way they lived their lives so they had no descent doing what they did to the slaves. It was not the slaves fault that they were born into that social class.However on one occasion, slavery does prove to have been as injurious to the slaveholders as to the slaves. When Douglass talks about his mistress, Mrs. Auld, he described her as a very kindhearted woman. She was teaching him how to read and write, since slaves were not allowed to become educated. She had clothing and food ready for him as well. Mrs. Auld was the only slaveholder to treat her slaves so kindly. After her husband banned her from teaching Frederick Douglass, she became coldhearted like all the other slaveholders.Douglass said, she now commenced to practice her husbands precepts she finally became even more violent in her opposition than her husband himself (22). Mrs. Auld had never had a slave before so she did not know what it was like. Douglass was her first slave to own. In this situation, slavery had then become injurious to slaveholders as it did to slaves. Slavery changed the mistresss personality, she became cruel. Mr. Auld In conclusion, even though slavery maybe injurious to the white owners, it is proved to be more injurious to the slaves.They are the ones treated unfairly the owners had a choice the slaves did not. Just because one instance can prove that slavery affected the slaveholders like it did to the slave, it does not justify it one hundred percent. Slaves were the ones getting beaten every day they had no control over their lives. Th ey were treated like property because of their skin color and the social class they were born into. Some slaveholders enjoyed whipping their slaves, it just goes to show that slave owners did not care about their slaves.

Mixed Member Proportional Government for Canada

Canadas government organisation was drafted at the Quebec conference by the so-c every(prenominal)ed Fathers of Confederation. In this system, the female monarch of Great Britain has the formal executive power. This in effect made the Canadian government system loosely based on the system being use by the United Kingdom (One Stop Canada, n.d.).Up to now, the Queen is still the head of the state, but just like any former(a) parliamentary democracy, her powers are extremely limited. It is still the Parliament that drafts and approves the countrys laws, and then the Queen would give the final approval, so to speak, existn as the Royal Assent. Whenever the Queen is non in Canada, the regulator General acts as her representative and performs all her ceremonial and administrative duties. The Governor General is always chosen by the Queen by virtue of the rash Ministers recommendation. The Governor General normally stays in office for 5 years (One Stop Canada, n.d.).The seat of power lies in the House of Parliament, but specifically, in the House of Commons. It is them who make laws for make laws for the peace, order and good government of Canada, and this includes defence, international policies, criminal law, immigration, border control and customs. They are being elected every 5 years.The present system in the Canada is the single member representation, comm save known overly as first past the post or plurality system, wherein the satisfying country is divided into constituencies (total of 308) and during elections, whoever gets the most number of votes in any particular constituency represents the constituency, and take a single seat in the Parliament (One Stop Canada, n.d.).This system is now being challenged by many because of the presumed lack of real representation of this system.Challenges on the current system and call for a changeStatistics from last years election show that in British Columbia, the Liberal party gained 77 of the 79 seats for that province with only 58% of the votes, compared to the former ruling Democratic Party who only gained 2 seats despite getting 22% of the vote. (The Democratic Party held 52 seats during the elections before last year, with only 39.5% of the vote.)The Green Party, although they energise won 12.5% of the total votes, got no seats at all. This recent election has proven to many that there is a need for a change in their electoral system. Adriane Carr, the British Columbia Green Party leader, leads the initiative to change the existing first-past-the-post system of Canada. Carr launched this initiative to encourage the government to consider her drafted legislation on the mixed member proportional government (Caron, 1999 Green Party of Aotearoa New Zealand, 2002).In this proposed system, the benefits both electoral schemes allow for be combined. A voter will choose a candidate that he or she likes, and at the same time, vote for a party also. In this way, all constituencies will be rep resented, and at the same time, a proportionate number of seats will also be given to parties receiving a certain percentage of votes, thus, ensuring the representation on the take or cause that it represents.It was also argued that this new system will maximize voter turnout as all votes will be taken into consideration, impertinent the case of a first-past-the-post system where only the winning votes, so to speak, are represented in the parliament. This means that in this system, it would not only mean that the leaders party would have seats in the Parliament, but also the minority party or parties, depending on the percentage of votes that they have won (Caron, 1999).This scheme is also said to increase the representation of women in the Parliament. In many countries in the Europe, proportional representation increased women representation by more than 10% (Caron, 1999). such(prenominal) condition is something being advocated by parties like the Democratic Party in Canada. If proportional representation will be adopted by the Canadian governmental system, it is forecasted to increase the voter turnout from all levels of election, and at the same time, also increase the representation of other interests in the Parliament. Theoretically, this scheme will make all votes count.The ultimate question Will this work in Canada?Many advocates of first-past-the-post system believe that if the system is not broken, then, do not fix it. But it appears that opus it is not broken, there is a better way of doing it. Even cynics do not disagree with having a need for electoral reform.The current system of electoral process in Canada is based on a winner-take-all principle, which means that the only representation happening is the winning vote, i.e., the popular partisan viewpoint. This also means that the other vote, the losing view, lose their right to political representation. This system has produced a government with a winning party winning majority of seats, with out really wining majority of the votes (Gordon, 2003).Canadians have only enjoyed trustworthy majority governments, elected by a majority of voters, four times since World War I (Gordon, 2003). The recent election show how unrepresented the voters are. And with the paper that they really have not attained a true majority government yet, still, they are using the first-past-the-post system despite the theoretically good conclusion of a proportional representation system, or at least, the mixed member proportion. In all aspects of the theory, from the idea of being truly representative, to the idea of increasing voters turnout, we know that this mixed member proportion will work.Since World War 1, only four times have the Canadian people attained a true representative majority, which means for only four times have the people been truly represented. This new system will in almost all certainty, centralise the control of the reigning party in the parliament. The system has worked o r is still showing potential benefits in all countries which have tried this. Canada will not be an exemption. So, more than just asking if this system will work in Canada, the ultimate question is Will the existing government give this a chance to work?Works citedCaron, Jean-Franois. The end of the first-past-the post electoral system? Canadian Parliamentary Review, 22.3 (Autumn 1999) 19-22.Green Party of Aotearoa New Zealand, 2002. Rod Donald exports MMP to Canada. Press submit (28th March 2002).Gordon, Larry. Its time for fair voting in Canada. Economics at About.com (15 October 2003).One Stop Canada, n.d. Canadian Political System. http//www.onestopimmigration-canada.com/canadian_political_system.html

Popular culture Essay

Reg Mombassa and Keith Haring are two well-known artists who both represent the pop-art movement.Keith Haring began producing art in New York in 1980 by drawing on subway advertising boards. He felt that this was a good way for him to be able to express his work to the public.New Zealand born Chris ODoherty has been producing pop-art on a lower floor the name of Reg Mombassa since about 1980. His earliest works became famous on the t-shirts of a well known Australian surf brand, Mambo.Harings Best Buddies, produced in 1990, is rattling wide, two-dimensional and brightly coloured. Made from a silkscreen print, its simplicity is intended to attract attention and instantly convey the message that friendship is good. The figures defend no obvious sex or race, which puts forward the message that friendship is for anyone and everyone.In contrast, Mombassas interpretation of the biblical scene of The Temptation is highly detailed with absolute colours, and conveys many complex messages . The most obvious message is that of todays temptation of material objects, represented by the toaster, and the violence and crime for solving high societys problems, which is represented by the gun. This Garden of Eden is set in Australias outback, showing that Mombassas main influence is Australian society.Each artistry is conveying its own strong social comment, and presenting it in different ways. Haring has used bright, bold colours and dark lines to put forward the message of the vitality of friendship, by means of two unidentifiable abstract figures. This means that Haring has left the responder to decide what race and sex the figures are, reinforcing the point that these factors are not important when choosing your friends. This is in equivalence with Mombassas detailed image of a well known biblical scene, using strong colours and a slightly more realistic boilersuit picture.The simplicity of Harings artwork conveys the social message instantly,where as Mombassas artwo rk requires the responder to study and analyse the detail and hidden messages behind the image.Haring created his simple artwork for the fast-paced lifestyle for the general public in the city New York. The image is easy and quick to absorb and therefore is more greatly appreciated by the busy day-to-day viewers.The more leisurely lifestyle of Australia in the nineties was able to take time to appreciate the complexity of Mombassas detailed artwork. Due to this, it was easier for the public to deconstruct the many messages hidden throughout the artwork.Both artists have been able to reach the masses through t-shirts and other publically exposed works and have become well accepted by the general public. Their work has served to influence many people with the message that they portray and have become part of every day life. Their art has been worn on t-shirts by people all over the world for decades.

First Essay

Also my reduce frame evokes prejudice and leads others to underestimate my abilities they assume t assume am weak. Lastly, people have it a counseling different first impressions of me based on my stain and the way dress. These physical traits provoke both positive and negative criticism. Ultimately, people do not ph angiotensin converting enzyme me based on my behavior and personality, but rather based on the way I set up my body and my physical appearance. People who are gangling-growing are usually feared and appear as a threat. My physical eater such as being tall(a) causes people to judge me. Being tall is usually associated with being looked at as powerful and intimidating.For example, I can relate to this through my experience when walking by people in the heart and soul of the night others tend to keep their distance from me, avoid eye contact and some sentences even cross the street to avoid any interaction. Due to my tall stature, I look less vulnerable and avoid less conflict compared to someone who is shorter than me. Also, due to my height, people automatically assume that Im athletic or that Im estimable at sports because Of y height advantage. For instance, during high school, teachers and peers attempted to recruit me to numerous sports teams such as basketball, volleyball and ultimate Frisbee.Their effort in trying to implicate me wi write out various groups made me feel wanted and this helped boost my self-esteem. Without my height, these coaches and peers would not have seen potential and would not have considered me in the first place. Finally my peak provides the people accompany -? such as friends and family -? a sense of security. When one of my friends got into a heated argument with someone, he person was right up on my friends face and started to push him back but when I intervened to help my friend, the person started to back off.My presence gave the person arguing with my friend less confidence to continue. This similar ly helped my friend to feel safe and protected around me. Overall, my height has an impact on peoples perspective of me and has led me to be judged for better or for worse. Those who are jagged are usually stereotyped and judge, some are even picked on because they appear so vulnerable and weak. For instance, since I m thin, people tend to think that I do not workout therefore idea I am weak, and when I go to the gym, people always assume that it is my first time there.Others feel obligated to try to teach me proper form and recommend a variety of workouts to do. They seem surprised when tell them that I have a workout schedule and that Ive been going to the gym to work out for almost three years now. Just because I am skinny, people think they know more than me when it comes to working out, but this is not necessarily true, since Ive been working out for a long time to know how to work out properly. Also, when playing basketball, my thin frame gives my opponents the impression th at do not look like a challenge.Every time I play basketball, teams always send their weakest defender on me thinking that I am weak and not bully enough to score on him. Thanks to my skinny figure teams always underestimate me by fully grown their weakest defender the task of guarding me. This advantage has helped me to achieve titles such as leading scorer and MAP for the various teams I have joined. In general, my lean human body leads to people looking down on me and underestimating my skill. The way in which people treat me and approach me is based on the way I present myself. The way I dress determines how others approach me or do not approach me at all.For example, when I am on the bus and am wearing resign clothing, I see that not as much people want to sit beside me compared to when I am wearing a more master key attire. On a bus ride to school, I was wearing my hooded sweater and jogging pants and for the whole ride no one dared to take the open blank space beside me . The way dress gave me an unapproachable atmosphere to my fellow commuters. In comparison, when I m wearing a dress shirt and dress pants I noticed that more people sat beside me on the bus and some even attempted to have conversations with me.This outfit makes me look much more professional and approachable. Kisses, my tattoo also has an impact on how people see me. People seem to think that having a tattoo automatically makes you a bad person. This one time when entered a barber shop I overheard a mother and her son having a conversation about my tattoo. The boy asked her mom if she would let him get out a tattoo like mines and his mom replied by telling him that only people ho do not care and respect for their bodies get tattoos.My tattoo makes me seem like I do not care about myself. Similarly, my tattoo makes it difficult for others to trust me because they have the pre-conceived idea that people with tattoos are pain makers. Whenever I enter a small terminus such as a conv enience store, I have noticed how the store owner treats me. The store owner always leaves his/her position at the cash register and walks to the same aisle as me and pretends to be stocking the shelves when in fact I know hat he/she is actually watching me because they think might be stealing. people with tattoos are generally viewed as rebels, troublemakers, and results into people thinking that we are always up to no good. Hence, the way in which I present my body leads to varied first impressions. In conclusion, my height, body shape and the manner by which I present myself leads people to prejudge me based of my appearance rather than my personality, behavior and other factors. My tallness has lead people to believe that I am powerful, athletic and intimidating. Similarly, my thin build fives people the impression that I am vulnerable and led people to belittle my capabilities.Also, my decision to dress myself a certain way and my tattoo can cause people to make assumptions on my personality whether it is good or bad. Prejudice is still a relevant issue because it limits an individuals potential. If we are natural small, society restricts that persons mindset to be an athlete because in society we bias the fact that only tall people can excel to be good a sports. Therefore, our society has taught us to live life according to the stereotypes based on our appearance.

Manchester United Ltd

1. 0 INTRODUCTION Whether, we realized it or not, from the moment we are brought in this domain of a functi unaccompanied concern and growing up in our everyday live we are living in and going through a life a full of brass with a certain mission and goal to achieve. We can take something that is truly close to our heart as an brass section, our dearest family. A family has a systematic construction as an organization we have our father who sit at the top and make most of the important decision, our mother who is second in command.And to a fault their children who take to heart in accomplish the goal and purpose. Even thinking this is just how I see a conquestful organization, but what is truly the meaning of organization thought the eye of a book. An organization defines as a systematic arrangement of people brought together to accomplish some specific purpose. A common sign of organization are have a distinct goal and purpose, comprise people working together to accomplis h certain objectives, a systematic social organization and an aim to serve the society.Through this assignment we are going to look into an organization of a company and look through solely the characteristics in making them an organization. For my organization I have chosen Manchester joined Football Club Limited as my choice of organization. Almost all part of the world, where ever you step your feet in this world people will recognize the global check off of Manchester get together so this include them as angiotensin converting enzyme of the biggest organization in the world. The reason I choose Manchester linked because of my passion for this inn and my enthusiasm in football as a leading market in sport or possibly even the world.Other than that, Manchester coupled is also a perfect family oriented company, where their responsibilities is not just for the owner, director and staff but also to the supporters and fans of the cabaret who gave almost everything to our h oney baseball club. They have the obligate not just for the owner and director but also to the fans. MANCHESTER UNITED FOOTBALL CLUB LIMITED 2. 0 Introduction The club was form as Newton Heath L&YR F. C. in 1878 as the works team of the Lancashire and Yorkshire railway line depot at Newton Heath, changing its name to Manchester unite in 1902.Prior to the 2005 takeover by the Glazer family the company had traded as Manchester United plc on the London Stock Exchange since 1991 and prior to flotation was registered as Manchester United Football Club Limited. Manchester United is one of the wealthiest and most widely supported football teams in the world. As of July 2011, the club is number one in Forbes magazines annual ranking of the worlds 50 most valuable sports teams, jimmyd at $1. 86billion. 2. 1 Nature of business enterprise Manchester United business revenues go in from master(prenominal)ly five sources 1.Match-day Income (money made from home games through ticket sales and other tot up-day activities) 2. Broadcasting Rights 3. moneymaking(prenominal) Tie-ups (sponsorships, etc) 4. Merchandise 5. Catering Manchester United main nature of business is football. Ticketing for Football matches play a big part in generating income for Manchester united. And with this Old Trafford was build to accommodate football matches for Manchester united. With Old Traffords having capacity boosted to 75,800. The crowds of more or less 250,000 should generate match day revenue of ? 2. 8m on each occasion, more than ? . 1m of that figure from corporate sales. And with match-day ticket prices having doubled since over the past few years, United can make a bulk of their earning through ticket sales. As we all know football match is play on goggle box all rough the world and Manchester United is not excluded from this. In England the Football Association is the one responsible in collectively sells TV rights for the English football club. Because high league place ment results in a longer share of television rights, success on the field generates greater income for the club.Since the inception of the Premier League, Manchester United has genuine the largest share of the revenue generated from theBSkyBbroadcasting United have also significantly income in their Commercial revenue, through sponsorship deals with AON and NIKE. Also the whopping ? 10m/yr training kit deal with DHL given that the AON deal for the jersey itself is ? 20m/yr. Manchester United has also consistently enjoyed the highest commercial income of any English club. The clubs commercial arm generated ? 51million. A nominate sponsorship relationship is with sportswear companyNike, who manage the clubs merchandising operation as part of a ? 03million 13-year partnership established in 2002. ThroughManchester United Financeand the clubs membership scheme,One United, those with an affinity for the club can purchase a range of branded goods and services. Additionally, Mancheste r United-branded media services such as the clubs dedicated television channel,MUTV have allowed the club to expand its fan base to those beyond the reach of its Old Trafford stadium. Other than that, the opening of red devils cafe at the stadium and around the world helps in exploring a new kind of business and also revenues.Figure 1. 1 Manchester United Revenue source and percentages 2. 2 Country of origin. Manchester United was formed in Newton Heath, United Kingdom in 1878 as Newton Heath LYR Football Club by the Carriage and Wagon department of theLancashire and Yorkshire Railway depot. But the club changed its name to Manchester United in 1902 and moved toOld Trafford, Greater Manchester, United Kingdom in 1910. 2. 3 How long has it been in business? Manchester United was formed is 1878 and it is still operating of as now. So the company have been in business for 134 years. . 4 How global is the company. Manchester United globalisation is a very special one indeed. Football main customers in business are the fans, Manchester United is not just broaden England but across the world in that fact. But how did this happen? From a small railway team into one of the leading global brand in the world. It all started in 1956, ManchesterUnitedbecame the first English club to take part in the European cup, a competition that are watch all over the world, thru this showing the appendage in the club and how it is started in becoming ore global and In 1968 ManchesterUnitedbecame the first English club to win the European cup and opening the eye of people. Since that, Manchester United have been a hugely dominating force in the worlds scene, in England, in Europe, and ultimately around the world. Another reason is the ownership of the club. ManchesterUnitedgenerally tended to be owned by hundreds of shareholders, primarily from the UK and Ireland. However in 2005, after J. P. McManusand JohnMagnier (two Irish men) sold their shares in the club to MalcolmGlazer he br ought his stake in the club up to 75%, thus gaining control.Glazer is an American business tycoon, this contributed in the spread of Manchester Unitedto America. The globalization of ManchesterUnitedcan surely be seen through the companies that sponsor the club. Out of the 12 main sponsors of the club, not one is British, instead coming from America, Germany, Switzerland, Turkey, Russia, China, Korea, Malaysia and the Middle East. We can also see the globalization thru the squad Manchester united, out of 30 players, 17 are not from the UK, instead, coming from places such as Brazil, Portugal, Spain, Serbia and Bulgaria, amongst others.We take Park Ji Sung as an example, a Korean player. Park is a mega star in his home country and thus has change magnitude Manchester Uniteds fan base significantly in Korea, and Asia. But in that location were other events that contribute to the Manchester United Globalization such as the Munich Air Disaster in 1958, were the Manchester united plan e crash after a match in Munich. People felt sorry for the club and habitual heart was touched thus creating more fan base. 2. 5 Market values Estimated value $1. 83 billion (? 1. 19 million)United have reaped the financial benefits of lucrative sponsorship deals with the likes of Nike and Aon, as well as a myriad of other income-generating endeavours such as their in-house television channel MUTV, which is currently beamed into over 190 million households worldwide to secure themselves an estimated global value of over $1. 8 billion (? 1. 1 billion). United are thought to have upwards of 333 million followers across the world, with a core contingent of 139 million supporters 2. 6 Top management of the company possessor Glazer family via Red Football Shareholder Limited136 * Honorary presidentMartin Edwards137 Manchester United Limited * Co-chairmenJoel Glazer&Avram Glazer138 * Chief executiveDavid Gill138 * Chief operating officer Michael Bolingbroke138 * Commercial director Rich ard Arnold139 * Chief of Staff Ed Woodward140 * Non-executive directorsBryan Glazer, Kevin Glazer, Edward Glazer & Darcie Glazer138 Manchester United Football Club * DirectorsDavid Gill,Michael Edelson,Sir Bobby Charlton,Maurice Watkins140 * Club secretaryJohn Alexander141 Global ambassadorBryan Robson142 Coaching and checkup staff * ManagerSir Alex Ferguson143 * Assistant managerMike Phelan144 * First team coachRene Meulensteen145 * Goalkeeping coachEric Steele146 * Fitness coachTony Strudwick147 * Reserve team managerrabbit warren Joyce148 2. 7 Shareholders. Malcolm Glazer is a US based businessman who bought 100% of Manchester United PLC and delisted United from the London Stock Exchange in 2005, through a holding company called Red Football. The Glazers purchased their first share of Manchester United on 2 March 2003, spending around ? million on a 2. 9% stake. On 26 September 2003, it was reported that he had increased his share to 3. 17%,taking his shareholding above the 3%. By 20 October, he had increased his shareholding to 8. 93%,and on 29 November it was reported that he owned around 15%. On 12 February 2004, Glazer increased his stake in the club to 16. 31% and the following daysFinancial Timesreported that he had instructedCommerzbankto explore a takeover bid. Glazer increased his shareholding to over 19% the following June, although he was still not the largest shareholder.His shareholding continued to increase, nearing 30% by October 2004. Upon reaching 30%, Glazer would have to launch a formal takeover bid. On 12 May 2005, Glazer reached an agreement withshareholdersJ. P. McManusandJohn Magnierto purchase their 28. 7% stake in the team, giving him a controlling stake with just under 57% of the teams shares. He then managed to secure the stake of the third largest stakeholder, Scottish mining entrepreneur Harry Dobson, taking his share to 62% of the club. Just hours later, Glazer had bought a further 9. 8% stake taking his total ownership to 71. 8%.On 16 May 2005, Glazer took his shareholding in Manchester United to 75%, allowing him to end the clubspublic limited company(PLC) status and delist it from theLondon Stock Exchange, which he did on 22 June. On 14 June 2005, Glazer successfully increased his share in the club to 97. 3%, sufficient for full control. On 28 June, he increased his share to 98%, enough for a compulsory buyout of all rest shareholders. The final valuation of the club was almost ? 800million. 2. 8 Stakeholders Manchester United has a number of stakeholders. Stakeholders are an individual or group with a direct sake in an organisations performance.The main stakeholders are the employees, owners, customers, suppliers, financer, fans and the local community. Manchester United employees apart from the football players also consist of employees that are responsible in sales, marketing, communication, human resources and finance. These departments exist in football clubs as well as in traditional companies. From the employees their main interests are to get pay rises and to get better training, the team players for example requirement better training so they can perform better and more effectively.The fans main interests are, that Manchester United play good games, watch good players and win as much possible, and the owners get more profit. The main interests of the financers, example the sponsors wants to make sure there brand name gets advertised and their company logo is seen on the players shirts, they also want a team that wins the matches so that their company can be associated with a winning champion team. The suppliers are also stakeholders and their main interests are that Manchester united keep-purchasing products from them so they will be making lots of profits. . 9 Corporate Social Responsibilities. The Clubs mission is to be the best football club in the world, both on and off the pitch. It also believes that Manchester United should be a part of the community in the wid est sense and that its success should not provided be measured in the number of trophies it wins, but also by the impact it has on the community in which it exists. Manchester United as it has taken great strides towards achieving a number of off-field goals which have supported its ambition to be a socially integrated and responsible organisation.Manchester United is committed to tackling environmental and social issues at regional, topic and international level, using the Manchester United brand to leverage support and create awareness of the issues facing the planet. Here is some of Manchester United CSR program 1. Hub of the association Hub schools are based in secondary schools within Partington, Wythenshawe and Salford. Each has up to 12 feeder primary schools and the structure of the programme allows for a long termination relationship to be developed. The participants benefit from consistent provision with sessions being delivered both within and in addition to the curri culum. . Something to Chew On An interactive project aimed at teaching 7-8 year olds about their own health and wellbeing. 3. Premier Mens Health Aims to use football to deliver key messages about health and encourage men over 18 to lead a healthier lifestyle. 4. KICKZ The Foundation has run KICKZ since 2006. The project uses the power of football and the appeal of the Manchester United brand to target hard to reach and challenging communities. The project aims to create safer, stronger and more respectful communities by developing young peoples potential. 5. Girls means of justiceThe Manchester United Foundation Girls FA Centre of Excellence aims to provide opportunities for girls to play at the highest level, with the eventual view of developing them into international players. 6. Disability Centre of Excellence The Foundation runs a Centre of Excellence for disabled players in partnership with the Manchester FA, with the specific aim of developing the more talented players fro m the Ability Counts leagues into the national squads. 2. 10 Employees Being successful off the pitch as well as on it requires Manchester United to have employees who are as committed to the success of the company.Manchester United currently employing around 505 people including manager, backroom staff and players. 3. 0 Conclusion Manchester United can be proud of every achievement that came in their way. Started from only a railway football team that focus just to play some football into one of the biggest football team, company and brand in the world. The committal and spirit of the players and community to see their team perform at the highest level is truly something to be wandered, although have nothing to gain from it just pride that came in their mind.From the management of the company to the staff and players, they all made this happen. Without the performance of the football player in the pitch, the organization of the backroom staff and also the fans all of this cannot b e achieve, Manchester United is truly a one united company. As conclusion, of course if given an opportunity to work with them it will be a big pleasure. Although not as a footballer but as Director or Head of Marketing Strategy ( Asia) will be an honour for myself.

Philosophy: What Is Justice

To answer this question I must first define what rightness is. Justice is the quality of being just, impartial or sightly(a) in your dealings with others according to Merriam Websters Collegiate Dictionary. Keeping that definition in mind, I no must turn to the Voices of Wisdom in piece to find an example of a situation in which all parties feel that they ar being treated justly.After examining examples such as Euthanasia, discrimination found on sexual orientation, and equal opportunity offered within the book, it becomes clear to me that there is in fact no possible way for there to be justice for all because every iodines judgement is in some way or another clouded by their own self interests. Euthanasia, people can answer exactly how they want to live but should we as a ships company allow them the right to decide exactly how they want to die? On the one hand you have the question is it just to kill someone or allow them to die when help is available? The obvious answer is no of level not.This is a prime example of why there can be no justice for all, because on the other hand you have the question is it fair to force someone to live through unbearable pain in anticipation of an agonizing death? The obvious answer to that question is also no. This is where our self-interests come into play. It is in the patients own self interests to die because it will ease her pain, but is not in mine to alleviate her of her deportment because death is final and irreversible, and because euthanasia contains within it the possibility that I will work against my own interest if I practice it or allow it to be secure on others. (J. Gay-Williams, pp. 185).This is why our own self-interests unavoidably will not allow us to have a just society. A society is only as equitable as the discourse accorded its most vulnerable members. Therefore, discrimination against anyone base on his or her sexual orientation is a clear and incurable symbol of an unjust society. F or example, should someones sexual orientation be grounds for restricting their rights? (Daniel C.Palm) The impartial answer would of course be no, everyone should be treated the same. only if we still hear the chant No gays or lesbians in the military. This is because it is in the self interests of the heterosexual people in the military have homosexuals in the military. The injustice of this idea becomes crystal clear when we examine the opposite statement of No heterosexuals in the military an idea that is equally ludicrous. (Kessler, pp. 74) As a allow for of the way we instinctively treat those that are different because they are seen as a threat, our society is will remain perpetually unjust. (Richard E. Mohr) Because of widespread discrimination based not only on race, but also on sex, religion and sexual preference it is impossible for society to offer each and every psyche a perfectly equal chance at opportunities such as hiring, promotion, housing, and educational pract ices that should be within their reach as a consequence, it is impossible for society to be just for all.According to the formal principle of justice, it is required that benefits and burdens be distributed fairly according to relevant differences and similarities. (Kessler, pp. 175) Using this principle it would seem that affirmative consummation programs of preferential treatment are in truth unjust to white males in that such programs require that all things being equal preferential treatment should be given to minorities and females which violates the formal principle of justice by not treating equal people equally.On the other hand, such preferential treatment programs are often justified by appeal to the principle of compensatory justice, which states that whenever an injustice has happened a just compensation must be made to those who have been injured. (Kessler, pp. 194) According to that principle affirmative action should be considered just in relationship to minoritie s. As a result, because equal opportunity legislation is not in accordance with the exceed self-interests of most white males but it is in accordance with those of most minorities, this is another example of a situation in which injustice is inevitable.After closely examining these triplet specific situations in which injusticebecause of our natural tendency to look after our own best self-interestsis certain, it can be concluded that it is hopeless to try to piddle such an idea as a society that is just for all. Because these perpetually unjust situations such as euthanasia, discrimination based on sexual preference, ideas uniform affirmative action or situations similar to these will most likely permanently exist, a society in which there is justice for all is unreachable.

Beer Et Al’s (1984) Harvard Model of Hrm Notes Essay

Despite almost two decades of debate in the mainstream literature around the constitution of human vision sellment (HRM), its intellectual boundaries and its application in practice, the field continues to be dogged by a number of divinatory and practical limitations. This throw is intended to deliver the respectables students with a relatively advanced and critical discussion of the key debates and themes around HRM as it is conceptualized and operationalized in the early part of the twenty-first century. thitherfore the current contribution is intended to be in the tradition of Storey (2007) and Legge (1995) and aims to provide students with a well-grounded and critical overview of the key issues surrounding HRM from a theoretical and practical perspective.In doing so we draw on contributions from the leading scholars in the field who provide detailed discussions on key debates in their respective offerings. In this introduction we provide the context for the book though co nsidering a number of overarching themes within which key debates in the field of HRM argon situated. Specific completelyy, we provide a compend discussion of the theoretical and intellectual boundaries of HRM, consider its emergence in historical context and identify just about of the pervasive contradictions and limitations which prevail in the literature. Finally we provide a short out business organization of the structure and content of this volume.HRM beOur discussion begins by considering what HRM actually means. Given the importance of definition in understanding the boundaries of a field, this issue is clearly an important point of departure. However, this question is more difficult to answer than maven would expect, since from its emergence HRM has been dogged by the still largely unsolved ambiguity surrounding its definition. As Blyton and Turnbull (19922) note The bureaus in which the term is functiond by academics and practitioners indicates both variations in me aning and significantly different emphases on what constitutes its core components. One of the dominant definitions (in the UK at least) has been to define HRM as a contested domain, with rival soft and unwaveringly approaches. The soft approach to HRM is generally associated with the Harvard shallow and in particular the writings of Michael Beer and colleagues (see Beer et al., 1984 Beer and Spector, 1985 Walton and Lawrence, 1985).The soft school emphasizes the importance of aligning HR policies with organizational strategy it emphasizes the role of employees as a valuable asset and source of competitive advantage through their loyalty adaptability and quality (Legge, 1995 DArt, 2002). It stresses gaining employee load to the organization through the use of a congruent suite of HRM policies. aristocratical HRM draws on behavioural sciences in particular, with strong resonance with the human traffic school, while the concept of human growth, which is central to its theory, e choes all-American theories of motivation, from McGregors Theory Y to Maslows Hierarchy of Needs (Legge, 1995). Hence it is sometimes conceptualized as cultivational humanism (Storey, 1989 Legge, 1995). HRM is operationalized in terms of strategic interventions designed to develop electionful employees and to elicit their commitment to the organizational goal (Storey, 1992). However, sceptics constitute conceptualized soft HRM as the iron fist in the velvet glove, arguing that the theory of soft HRM reduced the labyrinthine debate about(predicate) the role of stack in work organizations to the simplistic dogma of an scotch model which even its creator Adam Smith would credibly not have wished applied in such an indiscriminate manner (Hart, 19932930).An otherwise uncharitable definition of soft HRM is that it constituted a terrible rearguard action by liberal academics and practitioners, mostly writing in the United States, to sell more humane forms of managing people to ess entially conservative owner interests that have in increasing numbers ruth slightly pressed for a maximization of short term profits, regardless of the cost to both employees and the long term good of the organization. In other words, soft HRM is about trying to encourage firms to be nicer to their people, on the basis that such niceness is likely to translate into greater commitment and productivity, and hence, even more profits. Soft HRM stands in contrast with the aphonic variant. Hard HRM is generally associated with the Michigan School (Forbrun et al., 1984). Its emphasis is on the use of human resource (HR) systems to drive the attainment of the strategic objectives of the organizations (Forbrun et al., 1984). While soft HRM emphasizes the human element of HRM, the emphasis of the hard approach is very much on the resource as a means of maximizing sh atomic number 18h sometime(a)er value over the short term.The duty of managers is quite appargonntly to make money for owners , and a focus on other issues such as employee rights is precisely a distraction rather, by focusing on returns, the organization will perform most efficiently, which ultimately is in the interests of all. It has been argued that, in the tradition of Taylorism and Fordism, employees are viewed as a factor of production that should be rationally managed and deployed in quantitative and calculative terms in line with business strategy (Tyson and Fell, 1986 Storey, 1992). However, rather different to classic Taylorism or Fordism, job security in the new hard HRM is seen as an unnecessary luxury, whilst pay pass judgment are to be kept to the lowest level the external labour market would permit there is little mention in the literature illustrating how hard HRM echoes Henry Fords famous commitment to a 5 dollar/day wage. Human resource policies in the hard variant are designed to be both internally consistent and externally aligned with the organizational strategy.These interventions are designed to ensure full utilization of the labour resource (Storey, 1992). It is legitimized and finds its impetus from a market-responsive frame of reference (Storey, 2007). At the extreme, implicit contracts regarding pensions and tenure are seen as hampering effective management these should, if possible, be jettisoned, with employee rights creation pared back as much a possible. Critics of this point of view have argued that such a focus is likely to make for higher staff turnover rates, with the inevitable release of job specific skills and accumulated wisdom, low trust, low levels of organizational commitment, and hence, higher transaction costs (see Marsden, 1999). In other words, hard HRM is likely to make organizations less efficient. It could be argued that most successful incrementally innovative high value added manufacturing firms have shunned hard HRM. In contrast, it has been more widely deployed in more volatile areas of economic activity, such as financial ser vices.A second and simpler way of viewing things is that HRM in the narrow sense can be defined as a strategic approach to managing employees, which came to the forefront in the liberal market economies, particularly the US and the UK, in the 1980s. Whilst having both soft (people friendly) and hard (people as a resource to be deployed, utilized, and, if need be disposed of) variations, common to this approach was an emphasis on optimal shareh sr.er outcomes, with enhancing outcomes for other stakeholders being at the best a secondary objective, and at worst, an unnecessary distraction. This two sides of the same coin point of view argues that, since the end of the long boom that lasted from the posture World War II period up until the 1970s, there has been a period of erratic and unstable growth and recession.This period has been characterized by employers gaining the upper pot over employees, on account of the very much weaker bargaining position of the latter (cf. Kelly 1998). Given this, managers particularly in the liberal market economies, such as the US and UK, where workers have historically had fewer rights under both law and convention have taken the opportunity to fundamentally change the way they manage people. This has taken the form of systematic attempts to undermine collective bargaining with unions, replacing this with weak forms of consultation with individual employees. Collective employment contracts where workers performing similar jobs are rewarded according to a pre-agreed pay scale are replaced with individual ones, with employees being rewarded on the basis of regularly appraised performance, and/or through pay rates simply being linked to outputs. In other words, the role of the employee in the firm is not a dynamic and, in some sense, negotiated blood, but rather simply the deployment of a resource, in the same way a firm would deploy other physical resources, such as raw materials.A third way of looking at things is to simply conceptualize HRM as little more than a renaming of personnel management. In this vein, writers such as Armstrong (1987) describe HRM as old wine in new bottles, while Guest (1987) pointed to the fact that many personnel departments changed their names to HRM departments, with little evidence of any change in role. In practice, this would suggest that much HR work really concerns the administration of systems governing the administration of pay, promotion and recruitment procedures, etc. In turn, this would imply that HR managers are likely to lack power within the organization and have little say in setting real organizational strategies. Finally, HRM whitethorn be defined broadly in terms of including all aspects of managing people in organizations and the ways in which organizations respond to the actions of employees, either individually or collectively.The value of this catch all term is that it describes the wide range of issues surrounding both the employment contract, sit uations where an employment contract has yet to be agreed on (recruitment and selection), and ways in which employees may be involved and participate in areas not directly governed by the employment contract to make working life more agreeable and/or to genuinely empower people. In other words, it goes beyond simply industrial relations or employment relations. The terms personnel administration or personnel management would not provide a totally accurate label, given their administrative and non-strategic connotations. Some insights into the different ways HRM has been conceived have been provided by the Keele University map in 20072008. A conservative university administration resolved to restructure business and management studies in the university through the simple device of making academics that had formally vary in industrial relations redundant. In many respects, this was a surprising decision, given robust student numbers, and the fact that industrial relations research w as one area where Keele had gained an excellent reputation.Backed up by the findings of a committee of external experts, university administration implied that industrial relations academics were likely to be less competent of teaching HRM, and, by implication, had skills sets not relevant to modern business education. Tellingly, a petition signed by many leading HRM and industrial relations academics in Britain, in response to this decision, included a statement that HRM could not be separated from industrial relations, and that the skills necessary to teach industrial relations could broadly be applied to understanding HRM. In other words, HRM was simply a collective noun describing work and employment relations in the broadest possible sense, and was not really about special new skills, or a new and different agenda (see www.bura.org.uk).The preceding discussion highlights the ambiguity around the boundaries of HRM. These differences are summarized in Table 1.1. The tenseness a round definition persists in the literature and a central theme in this volume is highlighting the contradictions between these two broad understandings of HRM. We argue that for honourable and sustainability reasons, more stakeholder orientated approaches to people management are preferable, with shareholder dominant approaches facing both quotidian micro-crises at firm (encom outlet problems of human capital development and commitment) and at macro-economic (encompassing problems of excessive speculation-driven volatility, industrial decline, and chronic balance of payments problems) levels. HRM and personnel management comparedAs noted above, a key point of reference in definitions on HRM is through comparing it with its predecessor personnel management. Although this debate is somewhat dated, it remains important. Thus it merits summary discussion. During the early days of HRMs emergence as a mainstream approach to people management a number of commentators were sceptical abou t the extent to which it represented something different to its predecessor personnel management. Over time it has conk out apparent that there are substantive differences between the two, Table 1.1 Definitions of HRM Definition Implication Contested domain HRM is a contested domain, with two rival paradigms, hard and soft HRM Two sides of the same coin Whether hard or soft, HRM is about the management of people in a particular, new way. This may involve the use of strategy to manage people, or simply reflect structural changes that have strengthened management at the expense of employees New wine in old bottles HRM is little more than the extension of traditional personnel management Collective noun HRM is a commonly reflected description for a range of practices associated with managing work and employment relations At least at a theoretical level. In illuminating these differences a brief discussion on personnel management is merited (for a full discussion, see Legge, 1995). While there are a number of accepted definitions of personnel management, some of which in the US context are next to accepted definitions of HRM (see Kaufman, 2001 Strauss, 2001), there is a degree of consensus as to its key characteristics. First, personnel management is largely conceived as a downstream activity with a limit strategic role.And, despite the rhetoric, HRM is often not that strategic after all, both hard and soft HRM ultimately depict HRM as a transmission belt, passing down an agenda of shareholder value. Further, personnel management is generally considered to be reactive and piecemeal with little integration between its various elements. One of the superlative management thinkers if popular management writing can be considered thought at all of the last century, Peter Drucker (1961269), neatly summarized the personnel role as a collection of incidental techniques with little internal cohesion. As personnel administration conceives the job of managing worker and work, it is partly a file clerks job, partly a house keeping job, partly a social workers job and partly fire-fighting to head off union trouble oneself or to settle it. This restrain role is alluded to by Legges (199588) observation that in the UK personnel management evokes images of do-gooding specialists trying to constrain line managers, of weakly kowtowing to free-enterprise(a) unions, of both lacking power and having too much power.Indeed it has been argued that the perceived welfare role of the personnel function was one aspect of it that limited its credibility as a managerial function. It also resulted in females playing a key role in personnel in its formative eld in the UK context (Legge, 1995). A scrutiny of the gender composition of classes at many Chartered Institute of Personnel and Development approved training centres provides some corroboration for the gendered nature of much HR work. A further dimension of the broad personnel role in the UK was its key role in negotiating with slew unions, a characteristic which points toward the fire-fighting role of personnel. Indeed, it was this element of the role that bought increasing numbers of males into the profession (Gunnigle et al., 2006). However, more recent evidence in the UK points to a shift in the balance towards a greater feminization of the HR function (Kersley et al., 200669).This engagement with quite a little unions points to a collectivist orientation and, owing to the historical prominence of trade unions, particularly in the UK and Ireland, personnel management became infused with a pluralist frame of reference (Flanders 1964). Given the importance of bargaining, managing the industrial relationship gained a distinct identity it is deserving noting that the divide between basic personnel management and industrial relations persists in the academic literature, with, as a general rule, those academic journals focusing on the former having low prestige, and on the la tter, high prestige. Newer explicitly HR journals represent something of a cross over and incorporate aspects of both, as well as insights from, other disciplines. The preceding discussion suggests that HRM and personnel management and industrial relations may differ in a number of substantive ways. The first is that HRM is conceived as having a more strategic role and hence elevated to the top management table, suggesting a more upstream role, even if, in practice, this has been little more than avid thinking.Nonetheless, HRM does concern attempts to develop an integrated and congruent set of HR policies as opposed to the piecemeal approach apparent in the traditional personnel role. Furthermore, HR policy and practice is also targeted at the individual level. This is reflected in the preference for individual performance related pay, individual communication mechanisms, employee opinion surveys and the like. A last-place key distinguishing factor is that, reflective of the ind ividualist orientation, HRM is premised on a unitarist understanding of conflict. Unitarism suggests that there are no intrinsic conflicts of interest in the employment relationship as all within the organization are working toward a common goal for the success of the organization. The common goal is reflected in the idea that there is a single source of authority within the organization management. Given that there are argued to be no conflicts of interest within the organization conflicts are caused by breakdowns in communication or by troublemakers. Conflict should be suppressed by improving communication or removing troublemakers from the organization.Unions are opposed on two grounds (1) there are no conflicts of interest within the workplace and thus they are unnecessary and (2) they would represent an alternative source of authority. Alternatively, unions may be co-opted to the managerial agenda, through partnership, with unions trading off militancy for continued recogniti on, and the benefits that would arguably flow from greater organizational competitiveness. More critical strands of the HR literature suggest that this focus is mistaken, that employees often retain a collective identity, and that managerial power will inevitably continue to be challenged in ways that would make new accommodations necessary if the organization is to work in the most effective way. http//lib.myilibrary.com/Open.aspx?id=223448&src=0

Internship Report on Ztbl

Zarai Taraqiati chamfer Ltd. Chapter 1 incoming to newlys report CHAPTER 1 doorway TO REPORT 1. 1 BACKGROUND OF STUDY The Zarai Taraqiati posit bounceed is the premier monetary mental hospital ge atomic number 18d towards the nurture of factory farm heavens by providing pecuniary products and work to their customers. It is a common radiation pattern at universities during the completion of the masters and bachelors weapons plat plaster cast to attain practical experience in contrary orbital cavitys.Students ar implyd to infrago an internship programme of two months to fulfill the requirement for their degree completion. The selection of the firm is base on the choice of the student. The institute requires an internship give away based on the theoretical and practical learning of the student. The Internship is the bridgework surrounded by academician qualification and professional c ber of fresh graduates. This internship report is of importly focused o n the working of the finance and Accounts variance of the ZTBL.Moreover, the internship is a unique feel of education that integ judges study with planned and supervise c atomic number 18er- link up work experience. The students argon involved as non-paid authentic employees receiving academic reference for work experiences. The conclude of the internship program is to develop and strengthen the students educational and cargoner facility. By doing internship in any musical answerment that obviously exposes the inter personalised relationships not tot solely(a)y with employees but similarly with supervisor that are essential in obtaining a successful and satisfying career.This background of the study is in the first place focus on the performance, functions and objectives of the Finance and Accounts Division of the ZTBL and its internal working and operations of this division. While, the internship is any experience where students learn by taking on honorable mentionwor thy routines as workers in transcriptions and observing and reflecting on what happens while they are in the workplace. It put ups 1 contribute of focussing intuitions, Kohat University of skill & engineering Zarai Taraqiati margin Ltd. Chapter 1 Introduction to newspaper any advant jump ons to student that boosters him d wizardout his life. whatever advantages of internship program are pr maven as on a lower floor ? ? ? ? ? To assimilate professional experience and d stark(a) academic assent To enhance independence, responsibility and self-confidence To Interact and collaborate confidently with employees To share ideas with integrity an nearly separate. To generate classroom knowledge into the professional work environment and to make plan, how to adjudge the activities. ? To work towards the put to work improvement. 1. 2 PURPOSE OF THE STUDY The purpose of conducting this study is to develop some insight into the orking of the Finance and Accounts Division of the ZTBL and to gain the experience regarding the boilersuit operations and outgrowths of the wedge, in decorate to complete the BBA (Hons) degree as well. The purpose of the internship program is to develop and strengthen the students educational and career preparation, which they gain from university. An other(a) outstanding aspect of the internship program is that internee is placed to versatile de luckments of the organization by job rotation. It bears a glance of each department, as the period is like judicious oblivious for learning in detail. Other objectives of the study are as follows ?To pull ahead relevant information then interpret and analyze it in a useful manner. ? ? ? ? To highlight the facilities and products offered by the ZTBL to its customers. Internship hindquarters develop good work habits and to reduce student dropouts. To develop, enhance and strengthen the communication skills. To regain and participate in a professional work situation whic h represents an area of career entertain. 2 nominate of oversight experiences, Kohat University of knowledge & engine room Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to melodic theme ? To develop an understanding of the organization, its mission, objectives and concern philosophy.To acquire good work habits and gain an awareness of the communitys vast resources. To be prudent and work toward specific achievable goals. To analyze the till through different compend such as Ratio & SWOT analysis. ? ? ? 1. 3 SCOPE OF THE STUDY The scope of the conducting this study is effrontery as under It is a compulsory requirement for the award of Bachelors Degree in ? short letter tribunal from the Kohat University of Science & technology. ? This report is concerned with the performance, functions and objectives of the Finance & Accounts Division of the ZTBL principal office Islamabad. ZTBL. ? It butt provide suspensor to the direction of the ZTBL in identifying their Stre ngths, Weaknesses, Opportunities and Threats. ? It butt also provide attendance for the students in seeking annual reports for the purpose to calculate and interpret monetary ratios, in vagabond to check the liquidity, leverage and profitability of the ZTBL. ? Further more(prenominal), students are able to analyze the human resources & analyze the marketing of products and dish outs schemes that the ZTBL provide his customers. It give aid the students in making assignments and writing reports on the 1. 4.IMPORTANCE OF STUDY Banks play a underlying and really important role in the economic life of a country, thats why they are considered as the lifeblood of modern economy. right away no one can deny the importance of banking in the economy. They facilitate and expedite 3 get of counselling Sciences, Kohat University of Science & technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report trade and commerce and provide a variety of services that one cant imagin e without banks. I devour chosen the ZTBL for my internship because it has a large network of zonary offices and branches.But similarly this, the ZTBL plays an important role in the economic development and appendage of Pakistan. 1. 5. RESEARCH METHODOLOGY During the internship at the ZTBL Head shoes Islamabad, the most important task was to pull in as lots as information on the bank in order to apply a full ample report. For the collarion of information and information, I used two methods for collecting data for the preparation of internship report such as primary and secondary collection methods, which is given as under 1. 5. 1. radical Data Collections In primary data collection method, I interviewed different officers for this purpose.The interviews were not of formal temper but it went along with fourth dimension and the questions arose with identification of problems. I prepared more questions and discuses with Bank officers asked all the precise function and p rocedures of there departments. alone officers fully cooperated with me and provided all the necessary information which was required to me. The interviews have been interpreted from the bank officers and also the discussion was conducted with the heads of different departments. For collecting primary data, I use my own thoughtfulness and discuss my problems with previous internees. 1. 5. 2.Secondary Data Collection The data that are previously collected and assembled for the some projects other than the one at hand. It is also called as historical data. This method can almost always be gathered faster ant at a lower cost than primary data. The secondary data is collected from following sources ? ? ? ? Annual Reports & Accounts manual. ZTBL web site & Internet. Brochures. Pamphlets. 4 found of commission Sciences, Kohat University of Science & applied science Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? ? ? Newspapers. Business journals. Books. 1. 6. LIMITATIONS OF THE STUDYthither are some limitations which, I had to face as an internee during the Internship program in the ZTBL Head Office Islamabad, which are described as under ? ? Time was too short to visit all division and departments of the organization. The problem of loud shedding makes delay in preparing this internship report of the ZTBL. ? All staff members avoided to give either information. However, they kept most of the data secrets. So, it was precise difficult to collect the relevant information. ? The vice chairwomans, executives, administerrs and other staff members have their own matters of bank nd it was a bulky problem for me. ? Lack of co-operation by some employees because they were non- query oriented and also lack of accuracy of the relevant data. ? or else of all these difficulties, I have completed this internship report on the Finance and Accounts Division of the ZTBL Head Office with full cooperation of few fakers. 1. 7 SCHEME OF THE REPORT The internshi p report on the Finance & Accounts Division of the ZTBL is staged in four ingredients and ten chapters. The report is arranged in the following sequence. SECTION-I This section has one chapter. Chapter 1 Institute of instruction Sciences, Kohat University of Science & applied science Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report This is an introductory chapter which describes the introduction, background, purpose, scope, importance, research methodology, limitations and scheme of the report. SECTION-II This is lengthiest section of the report it includes the review of the ZTBL. This section is comprised of eighter from Decatur chapters. Chapter 2 This chapter is about bank and banking, valuation of banking, overview of banking in Pakistan and role of banks in the economic development of the Pakistan.Chapter 3 This chapter encompasses the introduction, record, mission, vision, objectives, restructuring plans, BOD, zonal offices & branches, ranking of staff members and subordinate word of the ZTBL. Chapter 4 This chapter curtly describes the products & services such as givewords & schemes and the recovery procedure of the loan of the ZTBL. Chapter 5 This chapter is concerns with the introduction, objectives, functions, variety and hierarchy of the Finance and Accounts Division of the ZTBL. Chapter 6 This chapter describes the introduction, objectives, unctions and units of the Central Accounts subdivision of the ZTBL. Chapter 7 This chapter describes the introduction and units of the Head Office Accounts segment of the ZTBL. Chapter 8 This chapter is concerns with the introduction, objectives, functions and units of the Regulatory Reporting Department of the ZTBL. 6 Institute of heed Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report Chapter 9 This chapter describes the introduction, objectives, functions and units of the reckon & Fund Reconciliation Department of the ZTBL.SE CTION-III This section also has one chapters and it is about the various analyses of the ZTBL. Chapter 10 This chapter explains the SWOT analysis, ratio analysis, human resource analysis & marketing analysis of the ZTBL. SECTION-IV This section contains only one chapter. Chapter 11 This chapter explains findings, recommendations, personal experience, conclusions & annexures of the ZTBL. 7 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 2 INTRODUCTION TO BANKING 2. 1 pith & ORIGIN OF BANK Some authors are of opinion that the word bank is derived from the word Banquet which gene a Bench. This is attributed to the fact that the Jewish transacted the business line of silver exchange on bench in market place. A bank includes a body of person, who carry on the business of banking or a bank whitethorn be as an institution humping mainly in currency and credit. It accepts deposits from one class of people at a lower rate of interest and industry for brush the requirements.This provides finance for successfully carrying on various stages of production as well as distribution. Moreover, a bank can stimulate the habit of redeeming(a)s mensuration for the people and provide the pledge and interest they offer with these speechs which are deposited by people are in a position to utilize the deposited heart more productively. In short, a bank can extend the transaction capacity of the customers by advancing loans when they require for additional funds to finance their expanded program of business transaction. 2. 2 EVOLUTION OF BANKING Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report According to the banking companies ordinance 1962 banking is business that receive investment or lending of deposits of money from public and repayable on demand or differently and which draw able by ch eque, draw orders or otherwise. As regards the increase of modern commercial bank, it can be traced to as early as 600BC. The An Outline of Money, written by G. Crowther, has traced the history of modern English Commercial banking.According to him, the present day banker has three ancestors such as merchants, goldsmiths & money lenders which are briefly explain as under 2. 2. 1 The Merchants The earliest stage in the ingathering of banking can be traced to the working of merchants. These merchants were traders in commodities. The trading activities were carried on by them from one place to another. It was gamble of infectiony for the traders to carry metallic money with themselves for payment. The traders with high reputation began to add receipts which were accepted as titles of money.These receipts or letters of transfer also called hundi in Indo Sub Continent were the first mode of payments. The merchant banking and so forms the earliest stage in the evolution of modern ban king. 2. 2. 2 The Goldsmiths The second stage in the growth of banking is normally traced to earlier goldsmiths. These goldsmiths also called Seths in India used to receive gold and silver for safe custody. The goldsmiths began to come on receipts for the metallic money (gold & silver) kept with them. These receipts with the passage of time became payable to the bearer on demand.In this way the goldsmiths note, become a culture metier of exchange and a mean of payment. The goldsmiths, indeed, can rightly be end pointed as the fore- do workners of the modern bank note. 2. 2. 3 The Money Lenders The third stage in the development of banking arose when the goldsmiths became the money lenders. By experience the goldsmiths (who were called money lenders) came to know that they could keep a minute proportion of the total deposits for clashing the demands of customers for cash and the rest they could easily lend. They allowed the depositors to draw over and above the money Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report actually standing to their credit. In Economic circumstanceinology, we can say that they allowed the overdraft facilities to their depositors. When every money lender and goldsmith issued receipts and most of them allowed the overdraft facilities, there was too much confusion in the banking formation. The money lenders and goldsmiths, in order to earn profits, could not keep becoming reserves for meeting the demands of the customers for cash.The failure on the part of the money lenders and goldsmiths to depict money caused widespread distress among the people. In order to create confidence among the people, steps were readn to regulate the banking organization. A conference was held in Nuremburg in 1548. It was decided that a bank should be set up by the state which should streamline the banking organization and technique. The first central bank was forme d in Geneva in 1578. Bank of England was established in 1694. The modern commercial banking system actually developed in the 19th century. 2. 3EVALUTION OF BANKING IN PAKISTAN At the time of independence the areas, which now constitute the Pakistan were producing only food grains and agricultural raw material. For Indo-Pak sub continent, there were much no industries and whatever raw material was produced was being exportationed from the Pakistan. How ever commercial banking facilities were provided fairly well here. There were 487 offices of order of businessd banks in the territories now constituting the Pakistan. As a new country without resources it was very difficult for the Pakistan to run its own banking system immediately.Therefore in accordance with the preparation of Indian independence Act 1974, an expert delegacy was appointed to study the issue. On the recommendation of delegacy Reserve Bank of India continued to function in the Pakistan, till 30th folk 1984, so tha t problem of time and demand, liability, coinage, currencies exchange etc be settled between India and Pakistan. It was decided that Pakistan will take over the concern of public debt 10 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report nd exchange control from reserve Bank of India on 1st April 1948, and that India get word would continue to be legal tender to the Pakistan till 30th phratry 1948. Following the announcement of independence plan in June 1947, the Hindus residing in the territories now comprising Pakistan started transferring their assets to India. Moreover the banks including those having the registered offices in Pakistan transferred to India in order to bring a collapse of new state. By 30th June 1948, the number of offices of scheduled banks declined from 487 to only 195 in the Pakistan.There were 19 non-Indian foreign banks with the status of small branch offices, which were p ick outd solely in export of crops from the Pakistani institutions i. e. , Habib Bank and Australia Bank. The government promulgated the Banking Companies Ordinance 1947, to safeguard the interests of both banks and the customers. The Imperial Bank closed in(p) down most of its offices in Pakistan, which created serious problems. The Indian government withheld Pakistans share of Rs. 75 corer in cash balance held by them at the time of partition.The urgency of as heart and souling control of banking and currency was very badly felt now. The government of Pakistan decided to establish a full-fledge central Bank. Father of the Nation, Quaid-i-Azam Muhammad Ali Jinnah, inaugurated the State Bank of Pakistan on July 1948, after the State Bank of Pakistan order was promulgated on 12th May 1948. The SBP provided every help and encouragement to Habib Bank to expend its network of branches and formulated and developed NBP in 1949 as an agent bank, which took over the agency functions in 195 2 from Imperial Bank of India.In order to develop sound banking and weeding out week institutes, the Banking Companies Act was promulgated in 1949, empowering the SBP to control the operations of banking companies in Pakistan. In a very short period of time number of scheduled banks and other modifiedized credit institutions rose to thirty six. By June 1965, the numbers of branches of scheduled banks were 1591. Pakistani commercial banks were nationalized in 1974, but the process was reversed as communisation proved to be defective. The ZTBL, MCB, 11 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ABL and UBL have been privatized and HBL is expected to be privatized at heart near future. The nationalization of Banks in Pakistan since 1st January 1947 has heralded a new era of development and progress. It has taken a complete banking system with effect form January 1981. The privatization process of state owned banks and enterprises started in 1991. 2. 3 CLASSIFICATION OF BANKS IN THE PAKISTAN The banks are classified according to their spheres of activities. The main types of banks are as under 1.Central Bank Every civilized country now has its own central bank. The primary function of the central bank is to regulate the flow of money and credit in order to promote efficiency, stability and growth in the country. In Pakistan, the SBP is the countrys central bank. 2. Commercial Banks These banks are engaged in performing the routine duties of banking business. They collect senseless money from the people. They make loans and surfaces in the form of overdrafts, cash credits, discounting bills of exchange. The commercial banks also manufacture credit money.They also provide agency services and normal utility services. These banks are considered the lifeblood of the economic society. Some commercial banks are owned and controlled by the government which is called as public firmament banks. For e. g. , NBP, HBL, UBLetc while other commercial banks that are owned by corporations is called as hole-and-corner(a) sectors banks. For e. g. , MCB, ABL, City Banketc. 3. Exchange Banks As name signifies, these banks mainly deal with international trade. These banks take the responsibility of settlement of foreign exchange and arrange the foreign business.In Pakistan, all the nationalized commercial banks have been allowed to do the business of exchange banks. 4. Saving Banks Saving banks are those banks which collect and keep the small savings of the public. They are called also thrift promoting institutions. The saving 12 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report banks invest the funds in the safest government securities. The Post offices and saving centers perform the business of saving banks in Pakistan. 5. factory farm Banks The agricultural banks (specialized banks ) are set up to provide monetary assistance to the agriculturists. The agriculture banks provide short limit credit to the far-offmers for the buy of seeds, fertilizers, pesticides, fuel. etc. They also make medium term advances for buying tractors and introducing modern techniques in farming. In Pakistan, the Agricultural Development Bank of Pakistan was set up in 1981 for meeting the financial requirement of agriculture, the ADBP is merged as public limited go with, according to the family Ordinance 1984 & is name was changed to the ZTBL in 2002.An agriculture bank is also called as domestic banks because these banks are registered and incorporated in spite of appearance the country. 6. Industrial Banks The industrial banks mainly provide medium and long term credit to the industries. Since the industrial banks have long term deposits, they are in a position to permit long term investment in industries. In Pakistan, the Industrial Development Bank was set up in 1961. The o ther institutions engaged in providing financial assistance to industries are PICIC, NDFC. etc. 2. 4 ROLE OF ZTBL IN THE economical DEVELOPMENT OF THE PAKISTANBanks play an important and active role in the economic development of a country. If the banking system in a country is effective, efficient and disciplined, it brings about a rapid growth in the various sectors of the economy such as agriculture, industrial, and the SME sectors. If the banking system is unorganized and inefficient, it creates maladjustments and impediments in the process of development. In Pakistan, the banking system is very well organized. The SBP established on July 1st, 1948 stands at the apex and is responsible for the operation of the banking system in Pakistan.The other banks such as commercial, specialized or unspecialized banks which form the banking structure in the Pakistan are contend an active role in the 13 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqi ati Bank Ltd. Chapter 1 Introduction to Report economic development of the country. The role of the ZTBL in order to achieve economic growth and development of the Pakistan is briefly explained as under 1. Development of Agriculture & Industrial Sector. The ZTBL particularly in arcadian areas of Pakistan are now providing credit for the development of agriculture & industrial sector.The provision of credit to agriculture & industrial sector has greatly helped in raising agricultural productivity and income of the farmers. This has led to increased demand for industrial goods and expansion of trade & industry. The use of bank drafts, cheque, bills of exchange, credit cards. etc, has revolutionized both national and international trade. 2. Banks stir Capital Formation. The ZTBL plays an important role in rising of the financial resources. They encourage savings by natural endowment various types of incentives to the exceptrs.They expand branches of the banks in the inelegant and urban areas and mobilize savings raze at far of places. These savings are then made available to the businesses which make use of for productive purposes in the country. 3. investment funds in new Enterprises. Businessmen normally hesitate to invest their money in risky enterprises. The ZTBL largely provide short, medium & long term loans to farmers to invest in new enterprises and adopt new methods of production. The provision of seasonably credit increases the productive capacity of the country. The organized banking system helps in directing physical resources into productive channels.It also keeps a balance between the availability and requirements of the big(p) in the country. 4. Balanced Development of different regions. The ZTBL plays an important role in achieving balanced development in different regions of the country. They help in transferring surplus capital from developed regions to the less developing regions. The trade industries etc of less developed regions are able 14 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report to get adequate capital for meeting their business involve.This in turn, increases investment, trade and production in the country. 5. Monetization of the Economy. The commercial banks by opening branches in the campestral and backward areas are reducing the exchange of goods through barter. The use of money has now greatly increased the volume of production of goods. The non monetized sector (barter economy) is now being converted into monetized sector with the help of commercial banks. 6. Implementation of Monetary Policy. The central bank of the country controls and regulates volume of credit through the active cooperation of the banking system in the country.It helps in bringing price stability and promotes economic growth within shortest possible period of time. The ZTBL under the supervision and guidance of the SBP help in implementing and achieving the objectives of the monetary policy which start out from time to time. 7. Financing Development Projects. The ZTBL provide short, medium & long term loans for financing of development projects both in private and public sectors. The ZTBL starts projects with the Ministry of Food, Agriculture & Livestock (MINFAL) launched an integrated development program entitled coif Maximization Project in 15 districts.The MINFAL will provide funds to the tune of Rs. 299. 833 millions to the ZTBL and thus help in accele paygrade the rate of economic development in the country. 8. Booting the Exports In order to boosts the exports of the agriculture and industrial goods of the Pakistan, the banks have established export packaging cell for the information and guidance of the exporters. 9. Less Reliance on contrary Capital A planed banking system by launching a vigorous campaign of mobilizing idle saving in the country can meet the capital development requirements from within th e country.The country will thus have to rely less on foreign capital for financing in the development projects. 15 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 3 INTRODUCTION TO ZTBL 3. 0 INTRODUTION The Zarai Taraqiati Bank Limited is the leading, premier and specialized financial institution geared towards the development of agriculture, industrial and SME sector, by providing financial products, services and loans for their customers.The restructuring plan is being carried out with the aim to uplift the agriculture and rude sector by raising the productivity, streamlining the institutional credit and increasing income generating capacity of the farming community. The ZTBL was incorporated as the public limited company on 14th December, 2002 through repeal of the ADB Ordinance of 1961. The ZTBL provides financial and expert services to the agriculturalist at their doorstep for modern ization of agriculture sector in Pakistan.The main purpose of the ZTBL is to provide sustainable hobnailed finance and services particularly to small farmers and low-income households to strengthen the country and agricultural 16 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report sector, mitigate poverty, capital market and investment activities. The core values of the ZTBL is the professional integrety, teamwork, customer satisfaction and loyalty. The ZTBL has a one secondary which is known as the Kissan Support Services Limited. The bank can charge 9% interest.The auhorized capital of the ZTBL is Rs. 25,000,000,000. This amount is dividend into Rs. 2,500,000,000 ordinary shares & the price of each shares is ten rupees. The total number of shares of the ZTBL is Rs. 1,186,961,000 and paid up capital is Rs. 11,869,612,000 of the ZTBL. The ZTBL has one chair, one president and ten directors. The ta tal number of employees is 5,326, while 982 employees is provided by the KSSL. The ZTBL make investment in some listed companies such as Nestle Milkpak Limited, Uqab Breeding Farm Limited, Mubarik Dairies Limited & Dadabohy Agriculture Leasing Limited in order to generate profit. . 1 HISTORY OF ZTBL It was considered after independence of Pakistan that the existing institutional sources of credit, such as, taccavi and cooperatives, were insufficiently meeting the credit needs of farmers. Therefore the need for establishment of a third source of agricultural credit was essentially percolated so as to fulfil the credit requirements of farmers not only for production but even for the development purposes. Consequently, the ADFC was brought into existence in 1952 for the purpose of expanding financial facilities and promoting the development and modernization of agriculture in the Pakistan.Subsequently in 1957, the ABP was established that can provide both short term loan for production and long term loan for development. The ADFC & ABP were merged together as the ADPB in 18th February 1961. The ADPB is the main credit supplier to the agriculture sector in the country. According to the Companies Ordinance 1984, the ZTBL was incorporated as a the public limited company on 23th October, 2002. The ZTBL is governed by Memorandum and expression of Association and registered with the SECP under Companies Ordinance 1984.Consequently, on 18th November, 2002, all the assets, contracts, 17 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report liabilities, legal proceeding and undertakings of the ADBP were transferred and vested in the ZTBL on 14th December, 2002 by the Federal Government. 3. 2 CORPORATEAVISION To develop and operate the ZTBL as a commercially viable bank with focus on rural and agriculture finance and to serve the needs of community, by delivering financial products and servic es. farming 3. 3 CORPORATE MISSIONTo play an effective role in the promotion of economic growth, by enhancing the availability of credit to the agriculture sector, through reliable access to sustainable financing, special lending programs, technical assistance, products & services, and to promote career development opportunities for increasing professionalism, technical proficiencies & trainings of employees. 3. 4 ? CORPORATE OBJECTIVES To assist rural community, particularly the small farmers, in raising their productivity and income levels through timely delivery of credit, advisory and ancillary services.To build the image of the ZTBL as a proactive, client friendly, financially & operationally sustainable with indigenous product deployment. ? ? To establish and provide backward and forward linkages to strengthen the agriculture and industrial sector. ? The ZTBL can engage in public and private, wholecut-rate sale and retail partnership to deepen outreach and reduce operating c ost. The ZTBL act as rural commercial bank to mobilize rural capital formation and to commercialize the agriculture sector by delivering the true value of credit to the client. ? 18 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 3. 5 RESTRCTURING PLAN OF ZTBL The restructuring means activity involving expansion or contraction of a organizations operations or changes in its assets and financial structure. The restructuring plan of the ZTBL covering the following factors 1. 2. 3. plaque The ZTBL establish an environment that facilitates good governance and vizorability. Systems The ZTBL modernize operations through use of technology, networking and communication tools. Business Processes The streamline products and delivery systems of the ZTBL are to educe transaction costs, simplify operations, and increase outreach. 4. 5. 6. Products and Services The ZTBL introduce products and services that are financially and economically viable. Human Resource Development The ZTBL can improve specimens and skills of staff & trouble and strengthen training capacity. Information Technology The ZTBL establish new hardware and software platform to have a bun in the oven the MIS, bill system including forensic accountancy, and risk management functions. 3. 6 BOARD OF DIRECTORS The ZTBL has one chairman, one president and ten directors. The seven eetings of the board are held during each course of study. The main resposibility of the BOD is to establish and wield a system of internal control, prepare and present the financial statements with aproved accounting standard and requirement of the Banking Companies Ordinance, 1962 and the Companies Ordinance 1984. The new corporate structure redefines the banks status as the Public Limited bon ton registered under Companies Ordinance 1984, with an single-handed BOD which 19 Institute of Management Sciences, Kohat University of Science & Tec hnology Zarai Taraqiati Bank Ltd.Chapter 1 Introduction to Report aims at ensuring good governance, autonomy, delivering high theatrical role. The list of the BOD is given as under List of get on of Director 3. 7 COMMIITTEES & ORGANIZATION STRUCTURE OF ZTBL The overall management, functions, meetings of the ZTBL is control by two committees known as Board & Management missions. The sub-committees of these two committees is explain as under 3. 7. 1 Board Committees 1. Audit Committee This committee has one chairman, four members that are the directors of the ZTBL and one depositary from the Audit Department.The prenomen of secretary is the of import Internal Auditor of Audit Department. 2. Human Resource Management (HRM) Committee This committee has one chairman & president of the ZTBL, four members that are the directors of the ZTBL and one secretary from the HRM Department. The engagement of secretary is the Head of the HRM Department. 3. Risk Management Committee This commi ttee has one chairman & three members that are the directors of the ZTBL. But one member designation is 20 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd.Chapter 1 Introduction to Report the risk manager. But in risk management committee, the company secretary act as member and secretary as well. 4. Information Technology(IT) Committee This committee has one convener & two members that are the directors of the ZTBL. One member is from IT Department & his designation is the Chief information officer. While one secretary (Head) of IT Department. 3. 7. 2 Management Committees 1. Assets Liabilities Management Committees This committee has one convener (CEO) & three members. The designation of the first member is the SEVP of Operation Department.The designation of the second member is the risk manger. But the third member (Chief Financial Officer) act as member and secretary as well. 2. executive Coordination Committee This committee h as one convener (CEO), one secretary (Compliance Officer) & three members. The designation of the first member is the SEVP. The designation of the second member is the EVP. The designation of third member is the risk manger. 3. 7. 3 Organization Structure of ZTBL The organisational structure of the ZTBL is shown in below diagram 21 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 3. 8 ZONAL OFFICE AND BRANCHES In public sector, the ZTBL is largest financial development institution with a wide network of 25 zonal offices and 342 branches in the Pakistan. The network of the ZTBL Head Office is given as under 3. 9 RANKING OF STAFF MEMBERS 22 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report The ranking of staff members in order of seniority in the ZTBL is given as under 23 Institute of Management Sciences, Kohat Universi ty of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 3. 10 SUBSIDRAY The ZTBL has one subsidiary which is known as the Kissan Support Services Limited. It was incorporated as owned subsidiary of the ZTBL that function independently effective from 1st January 2006. The KSSL is a separate and clear-cut legal entity that is controlled by the ZTBL. The KSSL has an authorized capital of Rs. 100 million. Its aim is to provide a mount to the management of the ZTBL such as to focus on core banking business and assign non-core activities.The KSSL operates under the Memorandum and Article of Association. The KSSL also provide support staff and services to the ZTBL in the following areas I. The KSSL has recruited and developed support staff of following table categories in ZTBL, Head Office as will as in field offices No. of Employees S. No. Category of Employees Provided By KSSL 01 02 03 04 05 06 07 08 09 Darbans and Armed Guards Drivers Naib Qasids Mali / Be ldars Typists, Assistants & Senior Assistants Security Supervisor Sweepers Players Others Total 526 291 54 25 41 03 07 20 15 982 ll.Besides manpower support a service, the KSSL has also provided following support services to the ZTBL ? Provide mail management, repairing, maintenance & photographing services to ZTBL ? Recruitment and provision of staff ? Provides farms and the ZTBL Staff College. 24 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? Provide security services not only to the ZTBL Head Office but also to branches and zonal offices. CHAPTER 4 PRODUCTS & service OF ZTBL 4. 0 INTRODUCTIONThe ZTBL has provided many products and services for their customers. The product and services of the ZTBL can raise the living standard of rural areas and develop the agriculture sectors of a country as well. The Pakistan is an agriculture country and the products and services of the ZTBL plays very impo rtant role in increasing the GDP and accelerates economic growth. For this purpose, the ZTBL provides many facilities for their customers, such as provides schemes and loans, obviously help the customers to invest money in their businesses, to get supreme profit from it and to pay low interest rates. . 1 SCHEMES OF ZTBL The ZTBL provides various schemes for customers, in order to strengthen the rural and agricultural sector of econnomy, mitigate poverty and accelarte groth. The Schemes of the ZTBL is which is briefly explains as under 4. 1. 1 Sairab Pakistan Scheme The ZTBL can raise the irrigated area for the purpose to accelerate rate economic growth and to facilitate the farmers. The ZTBL has assigned the collaboration agreement with the KSB Pumps play along Limited under the Sairab Pakistani Scheme.The ZTBL will provide loans to the farmers for installation of tube wells and turbines whereas KSB Pumps Company Limited will provide quality pumps, turbines, equipments to borrowe rs for efficient pumping of weewees. The water can plays vital role to improve per acre yield. Out of total 31 million hectors area of the Pakistan, 22 million hectors is cultivated while 9 million 25 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report hectors is not cultivated & waste mainly due to non-availability of water.More over increase in water supply being a key foreplay is required to raise cropping intensity and hence the income of the farmer. Since inception the ZTBL financed over 143000 tube wells amounting to Rs. 15 billion. The KSB Pumps Company will provide quality machinery and equipment for efficient pumping of water. The company shall also provide after sale service including replacement of parts and availability of spares through its network of dealers despite technological advancements and rapid growth of industrial sector, agriculture is still the back bone of the Pakistans econ omy.It contributes 22% towards the GDP and employs nearly 45% of countrys labor force. It provides raw material for preparation of industrial products. So it has both pulled & pushes effect on the economy. 4. 1. 2 Supervised Agriculture Credit Scheme chthonic this scheme agriculture loans are given for short, medium and long term loans up to Rs. 1 million per borrower. The loans are warrantyed for fats, livestock, orchard, tractor, agricultural machinery, tube well and irrigation facilities.Under the scheme besides provision of credit, information is to the farmers for planning the farm, production, guidance for implementation of the scheme, marketing and repayment of loans. 4. 1. 3 White gyration Scheme In order to modernize the dairy farming for increasing milk supply, mitigate poverty in Pakistan, and improving the living standards of the rural areas in Pakistan for the purpose to achieve growth and development in agriculture sector of Pakistan, the ZTBL may start the Strategi c Partnership agreement with the Pakistan Development Diary Company (PDDC) and the Nestle Pakistan Limited (NPL) under the white revolution scheme.Under this participatory approach, the diary sector would be overhaul with a view to increase milk supply, mitigate poverty and improve the living standard of the rural population. The ZTBL has earmarked funds to the tune of Rs. 5000 millions for financing of 50,000 animals (buffaloes and imported cows) during the five years period 2007 to 2011. The 26 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report PDDC will also help the ZTBL in the selection of clients and processing of loan cases.Initially the schemes will be for modernization of 5000 farmers during 5 years period involving Rs. 700 million. Under the scheme 1000 farms would be covered on periodic basis. The modernization of dairy farm will be carried out through financing milk cooling tank, generat or, voltage stabilizer, hot water geezer, water pump, cooling pad and other dairy equipment. There would be maximum limit of loan of Rs. 1 million per borrower party. The PDDC would bear the entire amount of mark-up charged in the loan cases & provided the 50% of principal part of loan is repaid in time by the borrower.The remaining 50% amount of principal along with the amount of mark-up would be paid by the PDDC. The Nestle Pakistan Limited would help to select and identify good clients for the ZTBL to improve quality breed of foreign and local dairy animals. The NPL can provide technical guidance to the farmers through nestle veterinary doctors. The NPL would purchase milk through its network and make weekly payments of milk sale to the ZTBL for the adjustment of loan. 4. 1. 4 Micro Credit Scheme This Scheme has been launched since 15th July, 2000 for the uplift of rural poor.The landless poor such as tillers, harries and small land owners having land not exceeding 2 landed esta te may avail loan under Micro Credit Scheme. It is operational in all branches of the ZTBL through all the Mobile Credit Officers. Both, men and women may obtain loans under the scheme as an private or as a member of group of 5-10 members. The minimum credit limit is Rs. 5,000 while maximum credit limit is Rs. 25,000. One hundred and thirty six income generating activities or cottage industry items have been identified for lending under the scheme.The loan may be advanced against one surety with 50% solvency of the assessed value of property owned by the guarantor or security of tangible property. Being small loans involving high cost 18% per annum mark-up is charged, whereas 2% rebate is given on timely repayment. All loans under these Schemes are recoverable within 18 months after disbursement of loan. 27 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 4. 1. 5 Zarkhaiz Scheme (One Window Operati on) For timely and handily rovision of credit to purchase inserts, loans is provided to the borrowers under this scheme being conducted twice a week during Rabi & Kharif seasons. All the related departments such as revenue, agriculture, post office. etc. attend the focal points which are established at convenient places. The farmers get their pass books prepared and loan applications processed on the same day whereas guarantee payments are made within three days at branch. For Rabi crops, one window operation from October to January and for Kharif crops from April to September each year which is extendable as per requirement of particular area. 4. . 6 Sada Bahar Scheme For providing timely input loans for crops and working capital for poultry and fishery etc, the ZTBL has launched a Sada Bahar Scheme. This scheme is also known as Revolving Finance Scheme. The assessment for inputs requirements for the whole year is made at the time of first application. The amount so assessed is treated as revolving limit provided it is within the security limit. The managers are authorized to sanction such loan limits up to Rs. 5 Lake. The salient features of the scheme are given as under 1. 2. 3. 4. Revolving Credit Limit is primed(p) to cater production credit and ancillary equirements of the farmers during one year period. The borrowers can draw the credit in collocate sum or in episodes according to his requirement. The borrowers can repay in lump sum or in installments during the year when his cash position allows him. The Pass Book containing transactions in his account is supplied to every borrower free of cost. 4. 1. 7 Tea Financing Scheme In order to increase the tea cultivation in Mansehra, Swat, Mutta and Dir in Malakand Division, the tea financing scheme has been introduced which would not only save the hard earned foreign exchange but would 8 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introd uction to Report also help to improve the socio-economic condition and living standard of the inhabitants of the area. The salient features of the scheme are given as under 1. 2. The maximum credit ceiling of Rs. 60,000 per acre has been fixed. All the farmers owing land up to five acres are eligible to avail loans. 3. The amount of credit will be given in three installments the first year installment is Rs. 30,000, second year installment is Rs. 5,000 and installment is year Rs. 15,000. 4. The credit would be repayable within 11 years with 6 years grace period with prescribed markup of 9% per annum. third 4. 2 LOANS OF ZTBL The ZTBL provides loans for the development and growth of rural areas and uplift of farm activities. The loans of ZTBL are briefly explained as under 4. 2. 1 Production gives These loans are given to farmers for seed, fertilizer, pesticides, labor chargesetc. to grow crops and vegetables including working capital for poultry, dairy, orchard and fishery and are recoverable within one and half year.The amount of disbursement of production loan, at the end of December 31, is 50,222 million for overall four provinces. The example of production loans items are given as under 1. 2. 3. 4. 5. 6. 7. Seeds, fertilizers and fuel Pesticides, insecticides and herbicides manual sprayers fowl feed, chicks and medicines Hire charges of farm power Water charges and electric charges for tube well Production loan for growth of mushroom Hired labor, water rates & fuel wood for tobacco curing 29 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report . 2. 2 Development Loans The loans for purchase of items like farm machinery, tractors, irrigation, land development, orchard, green houses, dairy, poultry, fishery, livestock, farming.. etc are recoverable up to one to eight years. The amount of disbursement of development loan is 5,690 million at the end of 2007, for overall four pro vinces. However, the provinces wise disbursement of loans & its percentages at end of 31st December, 2007 is given as under S. No. 1. 2. 3. 4. Provinces Panjab Sindh NWFP Balochistan Disbursement of Loans ( Rupees) 44,327,000,000 7,384,000,000 3,802,000,000 99,000,000 age 79. 50% 13. 20 6. 80 0. 20 Moreover, the term wise disbursement of loans of bank is on short, medium and long term basis. I. The short term loans are also called production loans having maturity period is one year. These loans are given to farmers for seed, fertilizer, pesticides, labor chargesetc. to grow crops and vegetables. These loans are recoverable in lump sum commencing after the harvest or marketing of respective crops. II. Medium term loans are for development and advance purposes the examples of these loans are dairy farming and livestock.The installments of these loans are made on monthly, biannually and annually basis and the recovery or maturity period is 5 years. III. The long term loans are for trac tor, agricultural machinery, poultry farming, and orchard. The installments of these loans are made on monthly, biannually and yearly basis and the maturity period is 8 years and above. sum-up of Term Wise Disbursement of Loans S. No. 1. 2. 3. Term wise Disbursement of Loans Short Term Loan (Production Loans) Medium Term Loan (Development Loans) Long Term Loan (Development Loans ) Maturity 2months 5 years 8 years %age 89. 80% 3. 40 6. 80 30 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 4. 3 RECOVERY PROCEDURE OF LOAN The recovery procedure of the ZTBL loan is to carried and taken by three steps such as recovery schedule, issuance of notice and legal action which is briefly explain as under 4. 3. 1 Recovery Schedule The recovery schedule in each loan case as per terms of sanction of loan is fixed and communicated to the borrowers after disbursement of loan.In case of default or failure in repayme nt of any installment on due booking the mark-up shall continue to be charged and last installment due to this may differ from the amount of installments fixed at the time of disbursement. 4. 3. 2 Issuance of Notice The ZTBL can issue notice for recovery of loan which is known as Demand Notice. It is issued before the due date of every installment. A legal notice is issued one month after the due date informing the borrower that if the amount is not repaid within next one month, further legal action will be taken to recover the dues. 4. 3. Legal Action The legal action can be initiated against the defaulter if loan is not repaid even after expiry of legal notice period. Where the court in banks favor has declare a case, account is to be settled by recovery of amount from the auction of the mortgaged property. The bank may purchase the mortgaged property if considered feasible to dispose it off later on through auction or in any manner deemed fit for getting the best price. The ba nk may dispose off the mortgaged properties of defaulters for satisfaction of its dues with out intervention of courts under Financial Institutions Ordinance 2001. 1 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 5 finance & ACCOUNTS DIVISION 5. 0 INTRODUCTION OF THE finance & ACCOUNTS DIVISION The Finance and Accounts Division of the ZTBL is responsible for handling the financial affairs and keeping the records of all the transactions, preparation of accounts, financial statements and budgets and to manage, distribute and reconcile funds of all zonal offices and branches of the ZTBL.Moreover this division acts as the spur for the bank, in order to strengthen the rural and agricultural sector of Paksitan, to manage funds, mitigate poverty, capital market and investment activities. The main aim and responsibility of this division is to make policies, planning, mobilisation and administrat ion of the banks financial resources such as products and services. This division provides schemes and loans for small and large farmers. By 32 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report etting loans and register with schemes, the farmers can invest money in their businesses and to get maximum profit from it and to pay low interest rates. This division manages the banks financial relations with the objectives of providing loans to borrowers. The ZTBL lends money to the individuals or corporations for consumption or investment and charge interest on the loans. But besides this, finance is the science that deals with the funds management such as saving and lending money while account is a record of financial transactions for an asset or individual.In other words, an account is an arrangement between a buyer and a seller in which payments are to be made in future. In short, this division can a ga in a formidable importance over the other division in the ZTBL, through its functions and truly be called as the backbone for the bank, in order to manage funds, mitigate poverty and increase the living standard of people of rural ares. 5. 1 FUNNCTIONS OF FINANCE & ACCOUNTS DIVISION This division mainly deals with concept of time, money and risk and how they are interrelated. It also deals with how money is budgeted.However, finance works most basically through individuals and business organizations depositing money in a bank. The main functions of the FAD is given as under ? To providing proactive financial policy, timely strategic financial planning and risk management. ? ? To managing the banks assets and liability portfolio. To prepare, prompt and accurate financial reporting and preparing audited financial statements for the banks annual report. ? To overseeing internal controls in the processing of financial transactions accounts, budgets, and credit of the bank. To reconcile funds of all zonal offices and branches of the ZTBL. 33 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To administer, monitor and control the banks loan and portfolios, including management and disbursement of loans. To manage the cash inflows and out flows. To maintain a books of accounts. To coordinate and facilitate a business planning, budgeting and to formulate the budgeting estimates of revenue and capital expenditure. To manage and rectify the accounts of zonal offices and braches.To consolidate all the financial statements of zonal offices and braches, in order to make financial decisions. To prepare quarterly, semiannually and annual financial statements and its agenda for presentation to the Audit Committee and the BOD & also to prepare annual capital adequacy ratio for certification by external auditors This division ensuring that all financial obligations are met and collections are made. ? ? ? ? ? ? ? 5. 2 CLASSIFICATION OF FINANCE & ACCOUNTS DIVISION In order to come apart the finance and accounts division of ZTBL, there are four epartments, which plays very important role in financial affairs and keeping the records of all the transaction, preparation of accounts, financial statements, budgets and to manage, distribute and to reconcile funds of all zonal offices and branches of the ZTBL Heads Office. The four departments & their sub unit of the FAD are given as under 1. Central Accounts Department (CAD) ? Policy Unit ? Accounts Unit ? Tax Unit 34 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? Fixed Asset Unit (FAU) ?Pre-payment Verification Unit (PVU) 2. Head Office Accounts Department (HOAD) ? Payroll Unit ? Fund Unit ? Payment unit ? Intra Branch dealing (Reconcilitation) Unit (IBTU) 3. Regulatory Reporting Department (RRD) ? Regulatory & Internal Reporting Unit (RI RU) ? Financial management Information Unit (FMISU) 4. Budget & Fund Reconciliation Department (BFRD) ? Budget Planning Unit ? Budget Analysis Unit ? Treasury Unit ? Fund Reconciliation Unit (FRU) 5. 3 HIERARCHY OF FINANCE & ACCOUNTS DIVISION 35 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 6 CENTARL ACCOUNTS DEPARTMENT 6. 0 INTRODUCTION OF CAD The CAD is abbreviated to Central Accounts Department. There are many accounting policies & procedures used in the CAD, In order to present the true financial position of he bank in financial statements, the accountants formulate the 36 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report accounting policies & procedures. This department maintains the actual or real accounts of the ZTBL.In this department, I was abandoned actually to maintain the real accounts which ar e assets and liabilities. They are responsible for both kinds of assets fixed and liquid assets and to maintain the depreciation accounts for all those assets acquired by the bank. In this department the balance sheet and profit and sack account is also prepared for financial year, to get the image in sense of profitability or loss and to make financial decisions. 6. 1 ? OBJECTIVES OF CAD Formulation & maintenance of the accounting policies & procedures with applicable accounting standards which vouch dissemination & implementation across the bank. Preparation of financial statements as per requirement of statue and to ensure the proper accounting of assets, liabilities, owners equity, income, revenues and expenses. 6. 2 ? FUNCTIONS OF CAD To issue the instructions relating to accounting policies & procedures and allocation of specimen feeling numbers to the authorized signatories of the branches & maintenance of signature booklet. To notify the schedule of bank charges. To main taining & updating of chart of accounts for recording of financial transactions. To prepare the periodic financial statements of the bank & to deal with all related matters.To Issue the guidelines and instructions regarding periodicals closing of accounts and deductions of assess at source. ? ? ? ? 37 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To deal with all corporate tax matter & liaison with tax department, tax advisors, consultants. etc The compilation of fixed assets schedule of the Head Office departments & branches. Follow up and collection of fixed assets schedule along with supporting documents from the ZTBL Head Office departments, zonal offices & branches.To coordinate with internal & external auditors and the SBP inspection team and to arrange credit rating of the bank. To conduct prepayment verification of sanctions pertaining to the HOAD. To perform administrative functions for the department such as, sanction of leaves & approvals for tour programs & travel allowance ? ? ? ? ? 6. 1. 3 6. 1. 3. 1 ? UNITS OF CENTRAL ACCOUNTS DEPARTMENT Policy Unit To finesse accounting procedure regarding accounting in the Head Office and branches & to circulate revision of mark-up or return rate for compliance by the branches.To deal with management latter & executive summary. To coordinate with external auditors & to arrange payments to external auditors bills. To arrange compliance of internal & external audit observation relating to the accounting matters of the ZTBL Head Office, zonal offices and branches. To coordinate with other departments in the Head Office on policy matters. To maintains personal files of the employees, deals with their leaves & other administrative matters, such as policy matters relating to the operation of accounts. ? ? ? ? ? 38 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 In troduction to Report ? To update the specimen signatures booklet for use of authorized signatories in the ZTBL Head Office, zonal offices & branches. To prepare bank charges schedule & there circulation among branches and submission to the SBP on half yearly basis. To allocate new GLH for accounting purpose and issue instructions those are relevant to the books of accounts. To provide guidelines to the zonal offices and branches regarding rectification, settlement of accounting errors, audit observation and adjustment of suspense account.To arrange & coordinate with credit rating of the bank & provide information regarding credit rating of the bank. ? ? ? ? 6. 1. 3. 2 ? Accounts Units To coordinate with concerned departments of is division for timely production of statement of affairs. To arrange compilation and merger of statement of affairs and it is also provide to auditors for auditing purposes. TO stack away balances under relevant group of heads from trial balances for prepar ation of financial statements. To prepare list of abnormal entries & balances for rectification.To deal with all matters rel