Financial Statement Analysis of Gul Ahmed - 5883 Words

COURSE Financial Statement Analysis Report on Financial Statement Analysis of Gull Ahmed Company SUBMITTED TO Sir Raza Haider Sawal SUBMITTED BY Mohammad Sadiq Imran khan Raza Khan Taimur Shareef BBA Hons Semester Vii Section A INSTITUTE OF MANAGEMENT SCIENCES | PESHAWAR Financial statement analysis Introduction: Financial statement analysis is the art of transforming data from financial statement into information that is useful for informed decision making. Financial analysis involves the use of various financial statements. These statements do several things. First the balance sheet summarizes the asset, liabilities, and owners equity of a business at a moment in time, usually the end of a quarter or year. Income statement summarizes†¦show more content†¦Quick Acid Test Ratio: A more conservative measure of liquidity is the acid test or quick ratio which is actually the measure of liquidity calculating by dividing the firm’s current assets minus inventory by its current liabilities. Formula: Quick acid ratio = Current assets – inventory Current liabilities The quick acid ratio of the Gull Ahmed Company of year 2009 is = 7359272000-4333234000 7749618000 = 0.39 Above stated ratio shows the firm’s ability to meet its current liabilities with its most liquid assets. Quick acid ratio is always less from current ratio because of inventory. A quick ratio of greater than one is generally recommended but as with current ratio it’s also depend upon nature of the company. However the remaining year’s ratios are obtained through this method. The table of five year ratio is given below: Year | 2005 | 2006 | 2007 | 2008 | 2009 | quick acid Ratio | 0.54 | 0.47 | 0.47 | 0.42 | 0.39 | Trend analysis: Generally quick ratio of greater than one is recommended but as with current ratio it’s also depend upon nature of the company. It is clearly shows from the above data of gull armed company that the company quick ratio is very poor with respect to its past data. Quick acid testShow MoreRelatedComparative Analysis of Gul Ahmed Textile with Industry8589 Words   |  35 PagesANALYSIS OF FINANCIAL STATEMENTS Final Project Gul Ahmed Textiles Limited Submitted to: Prof. Asif Bashir Submitted by: Muhammad Naseem Hayat L1F09MBAM2036 Rustam Javed L1F09MBAM2034 Hasan Mir L1F09MBAM0016 Section: A Dated: Friday, 31 August 2012 Contents Gul Ahmed 3 Firms Comparability: 3 Industry 3 Size of the firm: capitalization 4 Sales 4 Ownership: 5 International: 5 short term credit analysis 6 Analysis of Current Assets and Liabilities: 6 Current Asset Composition:Read MoreFormal Report on Gul Ahmad Textile3989 Words   |  16 Pages1. Introduction The purpose of the report is to present the company profile of Gul Ahmed textile industry. The current status along with the services and products offered by the company will be reviewed in this report. The report also mentions some opportunities the company has. The Companys board of directors includes six family members of the founder member of Gul Ahmed Group – Late Haji Ali Mohammed. The group has been carrying on business in the INDO Pakistan Sub Continent from the early 1900Read MoreMarketing Report of Gul Ahmed Textile Mill10361 Words   |  42 PagesDissertation (Marketing)29May 2008 Marketing Plan for Gul Ahmed Textile Mills Private (ltd) Table of contents Executive Summary 5 Statement of Purpose 9 Methodology 10 Delimitation 11 2. The Analyses 11 Gul Ahmed Textile Performance (History) 11 Corporate Profile - Major Companies 12 Corporate Profile - Business Activities 12 Textiles 12 Power 12 Management 12 Quality Policy 13 Social Policy 13 Environmental Policy 14 Health and Safety Policy 14 Sales review 14 2.2 The Macro EnvironmentRead MoreThe Impact of Corporate Governance on the Timeliness of Corporate Internet Reporting by Egyptian Listed Companies10157 Words   |  41 Pagesissue and full text archive of this journal is available at www.emeraldinsight.com/0307-4358.htm MF 34,12 848 The impact of corporate governance on the timeliness of corporate internet reporting by Egyptian listed companies Amr Ezat and Ahmed El-Masry Plymouth Business School, Plymouth, UK Abstract Purpose – This study seeks to examine the key factors that affect the timeliness of corporate internet reporting (CIR) by the Egyptian listed corporations on the Cairo and Alexandria StockRead MoreClothing Store Case Study8603 Words   |  35 Pagesexternal factors on the industry varies (as in every industry) and is computed with analytical tools like PEST-C analysis and Porter’s five forces model. Nonetheless, fashion industry assures new arenas of growth and development; new opportunities for employment. This industry promises a different national projection that is serene and contemporary. Later, an extensive internal analysis of the company of concern is carried out, which in this piece of work is Maria B. Maria. B. is one of the

Professor Tocker Free Essays

Shop This project has to do with price elasticity, which is a measure used in economics to show the responsiveness of the quantity demanded of a good or service, in regards to the quantity demanded for a good or service to a change in its price. It will also give the percentage change in quantity demanded in response to a change in price. (wow. We will write a custom essay sample on Professor Tocker or any similar topic only for you Order Now coursesmart. com/97812568314/page 551). A measure of the relationship between the change in quantity demanded of a particular good and a change in its rice relates to prices sensitivity. If a small change in price is accompanied by a change of quantity demanded, the product will be elastic. A product that is inelastic is when a large change in price is accompanied by a small change in the quantity demanded. Elasticity is sensitive to change in price, the degree to which demand for a good or service, in this case the flowers I am selling, varies with its price. It has to do with sales, when sales increase with a drop in price and decreases with the rise in price. Things like appliances, cars, and other non-essential, or luxury items, show elasticity of demand, it is because they are not essential items such as medical supplies, food, or etc. (www. businessdictionary. com/definition/ elasticityofdemand. html) Inelastic demand is when a demand for a product doesn’t increase or decrease with a fall or rise in its price; an increase in price would increase the revenue regardless of a fall in the quantity demanded. Inelastic examples would be groceries, gasoline, etc. things that are necessities. The ercentage change in quantity demanded is less than the percentage change in price. It is also unresponsive to changes like demand, when it falls to increase in proportion to a decrease in price. (Tocker, R. (November 26, 2013) Econ 212 2 203 3 [chat 4]. Retrieved from Colorado Technical University Virtual Campus. ECON212 13048-02 Principles ot Microeconomics: nttps://campus. ctuonline. edu) The price of a laptop increases by 20% and there is a 40% drop in quantity demanded of the laptop. Then formula would be: Formula = Percent of change in Quantity demanded of Laptop Percentage of change in Price of Laptop Quantity Demand 40% = 4 = 2 Price Increased 20% 2 Since the result is greater than 1, the demand for the laptops is elastic, and the effect on total revenue of an increase in price which will mean that the total revenue will fall. Inelastic demand is Just the opposite of elastic demand, because consumers will buy it regardless of price. Formula = Percentage of quantity Demanded of Cigarettes Percentage of price increase of Cigarettes Demanded The price of cigarettes increased by 10%, and there is a 5% drop in the quantity emanded. Quantity Demanded 5% Price Increased 0. 10 Since the result is less than 1, the demand for cigarettes is inelastic and the effect on total revenue on a decrease in price, which will mean that revenue rises, then total revenue will be unchanged. (wrww. economicsrevealed. co. uk) I think bridge tolls are inelastic, people will pay them regardless of price; it helps to maintain roads and reduce traffic congestion this is something people will Just add to their daily expenses for getting to and from work. As far as beachfront property is oncerned, I think many people would love to own beachfront property; however, it is not a necessity this would be a luxury, which is elastic. Gourmet coffee and cell phones could be both either elastic or inelastic, depending on if you believe it is a necessity or a luxury. My personal opinion is that it is a necessity, but the applications and downloads that are available to you are a luxury, an added feature is something your do not need. I could not imagine being without my cell phone, but I don’t want to pay for all the extra apps that are available. I honestly believe that gasoline is inelastic because you need it to travel, getting back and forth to work, etc. Regardless of what price the gas may be we will pay it in order to get to our destination. Owning and running a floral shop, I have to look at the supply and demand. While Valentine’s Day is when roses are in high demand, but supply is low; however, you also have a higher demand in flowers during Christmas and Hanukkah, Mother’s Day, Easter, and Memorial Day. The best time for me to raise prices would be in February, ecause of the high demand; again in May to deal with the demand for Mother’s Day, Memorial Day and weddings throughout the summer months. How to cite Professor Tocker, Papers

Strategic Management Case Analysis Process - Free Sample Solution

Question: This assessment task requires you to perform a detailed analysis of the Google case stud.You may supplement the knowledge gained from this case study with your own research on Google? Answer: Introduction Strategic management refers to the strategic analysis of external environment and internal environment of an organisation that serves as a base for developing and retaining optimum management practices (Ansoff, 2007). It is a continuous process that helps organisations in development, implementation and evaluation if strategies and decisions in order to achieve desired organisational goals and performance objectives (Abraham, 2012). This assignment analyses the external and internal environment of Google and reviews its competitive strategies. Google is a multinational corporation that specialises in internet-related services and products (Google Company, 2015). It was founded by two Ph.D. students of Stanford University Larry Page and Sergey Brin in year 1996. Google was initially known as BackRub that was started as a web search engine. Google has been able to capture a 70 percent of worlds internet search market share with Microsoft, Apple and Yahoo as its primary competitors in the industry (Steegle, 2013). In year 2014 Google has been listed as the worlds most valuable brand with Apple taking up the second position. External Environment Analysis External environment or the operating environment of an organisation comprises of factors surrounding it, like conditions, events and entities that greatly influence its activities and decisions and help them identifying various opportunities and threats (Nilsson Rapp, 2005). PESTLE analysis can be conducted to get an in-depth understanding of Googles external environment. Pestel Analysis PESTEL analysis helps analysing the macro environmental factors that affects Googles overall operations. PESTEL is an acronym for political, economical, socio-cultural, technological, ecological and legal factors (Freeman, 2010). Political Factors: It helps measuring the level to which government intervenes in the economy (Strategic tools: SWOT and PESTLE, 2009). It focuses on facts like labour law, tax policy, environmental law, political stability, tariffs and trade restrictions. Overall stability of the government greatly benefits Googles overall profitability as a stable government facilitate business growth which in turn results in growth of revenue from advertisements for Google. Government do not pose too much identified laws on level of Information sharing thus common laws do not influence Googles operations much. China however has laid restrictions on Google prohibiting them to operate on their terms. Economical Factors: It includes factors like inflation rate, economical growth, unemployment, exchange rates and interest rates (Vermeulen Cureu, 2010). Owing to its area of business Google is not very much affected by changes in economical factors. This is clear from the fact depicted in case study that in year 2009 Googles financial performance in comparison to its competitors was shocking wherein it held first position in overall per share data and growth categories and second positing in overall profitability. Socio-Cultural Factors: It includes factors like income distribution, population demographic, level of education and lifestyle change (Wittmann Reuter, 2013). Change in social trends and culture greatly affects the demand of product/ services and overall operations of an organisation. Changes in social trends and culture within society have always benefited Google as it is referred to as a warehouse of knowledge and information. Technological Factors: It includes factors like investment and level of research and development, technology incentives, automation and rate of technological change (Vermeulen Cureu, 2010). Google is a technological company thus is greatly affected by technological factors which are its main competitive strategy. Technological innovation is the key mantra behind Google exceptional growth and the company spend spends most of its time and money on RD activities. Ecological Factors: It includes factors like climate change, weather, environment conservation etc. Googles overall operations are not that much affected by ecological factors. Legal Factors: Like any other organisation Google also has to adhere to basic laws like, employment laws, consumer laws, discrimination law, health and safety laws etc. Google has been awarded as one of the worlds best employers and best company to work with. Porters Five Forces Analysis Porters five forces analysis helps in analysing the degree of competition within an industry and developing business strategy (Porter, 2008). Threat of Competitive Rivalry: High Google faces tough competition from four big companies Microsoft, Apple and Yahoo. Unlike Google these companies has diversified in several industries while Googles area of focus just include Advertising, Search, Mobile and Apps. Microsoft: Founded in year 1974 by Bill Gates and Paul Allen, Microsoft today is recognised as the worlds leader in software services and developing solution that help businesses attain their full potential. The company operates in five business segments namely; windows and windows live, server and tools, online services, Microsoft business and entertainment and devices. It has presence in 109 countries and has reported a sales value of $58.4 billion which is 243 percent of Googles sales values. Yahoo: Founded in year 1994 by Jerry Wang and David Flo, Yahoo is one of the recognised search engines and has reported sales of $ 6.5 billion which is 27 percent of Googles sales values. Yahoo has its focus on four categories of business namely; integrated consumer experiences, applications, search and media products and solutions. Yahoo and Microsoft recently have agreed for a mutually beneficial relationship in order to catch up with Google. Apple: Founded in year 1976 by Steve Jobs, Steve Wozniak and Ron Wayne adopted a hardware approach for market entry in contract to its competitor Microsoft. It has opted for geographic segmentation instead of individual subsidiaries. Apples main product offering include; Mac desktops, Mac portables, Music related products and services, iPhone and its related products and services, Peripherals and other hardware and Software service and other sales. Apple has reported sales of $36.5 billion which is 152 percent of Googles sales value. Threat of New Entrants: Low to Medium New entrants face almost negligible barriers for entry into the internet marketplace. Also in case of search engine business software services are associated with no switching cost. Developing a better search engine is not at all an impossible task however it is not at all possible to beat or even match Googles core competencies and financial position. Thus, Google face low to medium treat from entry of new companies. Bargaining Power of Suppliers: Low to Medium Google is a big brand name and suppliers themselves want to be associated with it. As depicted in the case study Google make use of third parties to create applications that are outside the reach of their expertise. Google receives 20 percent of the revenue collected from such applications without allocating its own resources. However Google does feel some threat from big suppliers like Microsoft and Apple whose platforms and operating systems are used to support Google tool. A disagreement from their end can cause Google tool to become mal-functional. Bargaining Power of Customers: Medium to High Customer is at the heart of all business and corporate level strategies. All organisational strategies are formulated keeping in mind the needs of target customers. Though Google enjoys a high brand reputation and customer loyalty it still has to update its strategies and technologies to meet the changing needs of customers. Customers however cannot even think of a day without Google that has almost become a necessity. Google enjoys an internet search market share of 70% and its next to impossible for any other search engine to replace it. Threat of Substitute Products: Medium to High Google faces tough competition from three big players Apple, Yahoo and Microsoft; these companies also operate in the same segment as Google. They are equally strong in terms of innovation, technology and financial position. Though the threat of new entrants does not have too much effect on Google however it is well aware that creation of a similar product is not something that cannot happen. Google has to focus on continuous innovation which is not only important for survival but also for retaining its market position. It has all the necessary technologies to remain successful in this industry like storage, server hardware and bandwidth. Strategic Environments Google operates in four different segments each of which has its own set of challenges and competitors. In order to sustain in this competitive environment Google use differentiation strategy wherein it has developed different strategy to target different segments (Bonnici, 2011). Search: Google believes that a perfect search engine understands and delivers what is exactly needed by customer. Google strategy to target this segment was to put complete focus on a developing product features instead of spending on marketing campaigns. A product that was user friendly, with global access, delivered useful commercial information, worked on multiple access platforms and resulted in considerable improvement of web. Advertising: Google uses single overarching strategy to deliver useful relevant ads that are targeted and cost effective. AdSense and AdWords are Googles main advertising products. Its advertising strategies restricts placement of ads between search results which greatly benefit end users. Apps: Gmail and You tube are the most commonly and extensively used Apps of Google that is available free of charge adding to its brand reputation and goodwill. Google relies on outsourcing and strategic alliance strategy to involve third parties that use their expertise and resources to create applications for Google who gets a share of 20% from revenue generated from these apps without using any of its resources. Mobile: Google witnessed exceptionally high growth in this segment owing to its open-source freely available operating system Android. Google has a unique product, pricing and distribution strategy for this unique product. It is a feature rich product that is freely available and open to source and are distributed to mobile manufactures free of cost rather they receive a share of revenue generated from advertising from Google. Key success factors Google faces tough competition from its four major rivals and in order to retain its position Google spend most of its operating expenses to perform research and development activities. It has made its advertising business as the main source of revenue. As all its products and services are virtual they do not involve cost of labour, warehousing, production and distribution thus limiting its cost of sale. In addition to its effective leadership Google owes its remarkable success to its capabilities in four major areas; Web search functionality is recognised as an essential contributor in Googles business and is an indispensable feature of the internet. It allows users to search in 130 languages and the company owns around 160 country/ regional domains that are localised. Advertising sales accounts for 97 percent of its revenues. Google makes the ads unobtrusive so that they match users needs. Google Apps comprises of a set of cloud computing tools that include Gmail which changed the face of online email by offering free email with 1 GB storage, Google docs which is a set of online editing tools that allows users to share documents with anyone such that documents can be edited by several users at the same time, Google Calendar, Orkut which is a social networking site, Picasa for photo editing and sharing, YouTube for video sharing and other such Apps. Googles entry into the mobile computing technology has lead to the development of Android operating system created by the Open Handset Alliance which is formed by grouping of 71 mobile and technology companies. Android is an open-source, freely available operating system for mobile phones. Driving forces of change Google currently faces three main challenges that are recognised as major driving forces of change. Firstly it needs to focus on how to manage growth of Android market. It has to devise sustainability strategies for growth of Android in the market, find out ways to monetise and take advantage of mobile computing, develop competitive strategies to increase sales of Android based handsets as compared to competitor products and how can it target and please wireless providers. Secondly it needs to emphasize on how it can manage the escalating situation in China. It has to formulate strategies on how it should provide its contents to China without affecting its relationship with the providers of cellular phone services there. Lastly it needs to focus on responding to customer queries regarding data privacy. It has to devise strategies that will help in further safe guarding users privacy. Google must maintain customers trust without which it will not be able to perform its business practices. Internal Environment Analysis Internal environmental analysis includes review of organisations mission, overall operations and internal leadership/guidance (Web-books, 2014). Googles mission and vision Googles mission is to organise the worlds information and make it universally accessible and useful (Google Company, 2015). It wants to bring the world to within every customers reach through its search engine, apps and advertising and mobile platforms. Its mission speaks about its goals and gives it a platform to move ahead in future. It is not timeline thus reveals Google willingness to redefine limits of internet usage. Googles vision is to develop a world where technology does all the hard work and people do what makes them happy. They focus on building great things that do not exist (Carlson, 2013). The company aims at developing a technology driven world. Googles culture and leadership As depicted in the case study Google fits into the hard working informal culture which is key factor behind his remarkable success in such short span of time. Google encourages high diversity of workforce which is a representation of globally diversified customers they serve. They have an open culture were all employees are encouraged to share their views and work they ways. They greatly encourage fun with work and their complete infrastructure supports this belief. Google owes its grand success to its prime leaders Larry Page, Eric Schmidt and Sergey Brin. Effective leadership is essential for development of a company life Google (Dockery, 2011). They display use of transformational leadership style wherein they possess the inherit charisma to influence others and make them live by values that support their ideas and vision (Armstrong Stephens, 2005). Their contribution is critical for the overall management of the company and they are the once who lead to the development of Googles culture, technology and strategic directions. Larry Page is responsible for the companys product development, day-to-day operations and technology strategy. Eric Schmidt is CEO of Google and is the person who scaled Googles infrastructure, diversified product offerings and developed a strong innovative culture. Sergey Brin is Googles president of technology and shares responsibilities with Larry and Eric. Googles Current Structure Google displays a flat organisational structure with very limited hierarchies. This is clear from the fact that Googlers can ask all their doubts related to various company issues directly from top leadership of the company. Google is recognised as one of the most sustainable business of the world. Googles sustainability practices helps it in retaining its competitive advantage in order to secure and grow its internet market share of 70%. Googles competitive advantage is rooted from its ability to leverage the power of free. Continuous innovation is the key that helps it maintaining its top position in the internet industry. Googles distinctive competencies help it remain sustainable and retain its competitive advantage. Google in comparison to its competitors has better products, strong and unique infrastructure, appeal for advertisers and high traffic thus setting standards that are unmatched by rivals. Google has all the technology necessary to retain its competitive advantage and market share. Server Hardware: Instead on investing huge operating expenses on purchasing server hardware Google has built its own server hardware. It is occupies the fourth position among the list of Worlds largest server manufacturers. The scale of their computing resource is unimaginably large. Storage: Similar as the case of its server hardware Google following a different strategy of relying on high redundancy models that have low price with cheap individual drives that are most likely to fail. Bandwidth: Googles differentiation strategy again works well in this case; the company has purchases dark fibre in large scale which prevents it from making huge investment on purchase of Bandwidth. Google has future plans of making good investment on developing ultra fast fibre networks with an aim to redefine the competitive landscape of broadband America. Googles value chain analysis Googles value chain takes up a different structure as it does not produce physical goods. Figure below represents Googles value chain. Fig.1. Source: Ansoff (2007) Google attracts high traffic of web-users to its search engine by delivering highly relevant search results. These same web-users are then directed towards its advertising partners by following ads that are unobtrusive and relevant. Google keeps a track of users by keyword association and search history in its apps like Gmail and YouTube through which it can predict their interest and accordingly delivery ads that are of interest to the user. This not only adds value for the advertising partners but also for the web-users who are directed towards sites that will actually benefit them. The primary activities (Search, Advertising, Apps development and Mobile computing) performed by Google are greatly affected by support activities preformed by human resources and administration. Google employs more than 40,000 people in 70 countries. It encourages a diversified workforce who works in an open culture where innovation is the key to growth and overall success. They prefer smart working people which high determination and more ability than experience (Google Company, 2015). Google has all the necessary technology to sustain its competitive advantage, it builds its own server hardware, relies on high redundancy models that have low price with cheap individual drives that are most likely to fail and hardly pays much for band width as it uses fibre optics based network dark fibre. It generates maximum revenue from its advertising business which is supported by businesses of other three segments. Conclusion Google should focus on market development strategies to take advantage of opportunities presented by developing economies of Middle East/ Africa and Asia Pacific regions. It should emphasize more on developing strategic alliances in such regions in order to benefit from knowledge of localised entities. Google needs to develop better and more focused marketing strategies to increase sales of Android based handsets. It should make efforts to negotiate with China so that they can enter into a mutually beneficial relationship. Google needs to emphasise on developing strategies that will help them guarantee web-users privacy. References Abraham, S. C., (2012) Strategic Planning: A Practical Guide for Competitive Success. Bingley: Emerald Group Publishing. Ansoff, H. I., (2007) Strategic Management. Hampshire: Palgrave Macmillan. Armstrong, M. Stephens, T., (2005) A Handbook of Management and Leadership: A Guide to Managing for Results. London: Kogan Page Publishers. Bonnici, C. A., (2011) Creating a Successful Leadership Style: Principles of Personal Strategic Planning. Plymouth: RL Education. Carlson, N., (2013) Larry Page Lays Out His Vision For The Future: 'We're Only At 1% Of What's Possible. [Online] Available at: Dockery, D. S., (2011) Christian Leadership Essentials: A Handbook for Managing Christian Organizations. Nashville: BH Publishing Group. Freeman, R. E., (2010) Strategic Management: A Stakeholder Approach. Cambridge: Cambridge University Press. Google Company, (2015) Google Company. [Online] Available at. Nilsson, F. Rapp, B., (2005) Understanding Competitive Advantage: The Importance of Strategic Congruence and Integrated Control. Hamburg: Springer. Porter, M. E., (2008) Competitive Strategy: Techniques for Analyzing Industries and Competitors. New York: Simon and Schuster. Steegle, (2013) Steegle. [Online] Available at: ]. Strategic tools: SWOT and PESTLE, (2009) Strategic tools: SWOT and PESTLE. [Online] Available at: Vermeulen, P. A. M. Cureu, P. L., (2010) Entrepreneurial Strategic Decision-making: A Cognitive Perspective. Cheltenham: Edward Elgar Publishing. Web-books, (2014) Developing Strategy Through Internal Analysis. [Online] Available at: . Wittmann, R. Reuter, M., (2013) Strategic Planning: How to Deliver Maximum Value through Effective Business Strategy. London: Kogan Page Publishers.

Lee Iacocca Essays - Transport, Automotive Industry,

Lee Iacocca Nate Spohn 11/1/00 Book Report Iacocca an Autobiography Lee Iacocca grew up in Allentown Pennsylvania, very close to my hometown of Boyertown Pa. My geographic connection with Iacocca is one of the reasons I chose to read his autobiography. We are both very interested in automobiles and automotive history, which connected me even further with Iacocca . Iacocca believes that you can become and achieve anything in life as long as you have strong determination and motivation. I too share this belief. Lee Iacocca did not focus his life on goals that others set for him; he followed his heart and his dreams, which someday is something I hope to be able to say about myself. Iacocca, the son of Italian immigrants grew up in an upper middle class family. His father started out with nothing and over many years, he managed to build a successful chain of hotdog restaurants in Pennsylvania. Because of his father's success and strong beliefs in the value of education, Iacocca grew up attending private schools and eventually found his way into Lehigh University. While attending, Lehigh Iacocca earned a degree in Mechanical engineering. Upon his graduation, he landed a very prestigious job with Ford Motor Company. In August 1946, Iacocca began his work in the engineering department of Ford. After a year of engineering Iacocca discovered that it was not what he wanted to do with his life, he wanted to be in sales. Ford agreed, which was the start of a very successful venture for Iacocca and the Ford Motor Company. Through many years of hard work, Iacocca was promoted to top management. This is where he found himself living his dream. He never wanted to leave work at the end of the day and could not wait to go back the next morning. Although Iacocca was doing very well and could not be happier, the Ford Motor Company was going through hard times. General Motors was really hurting Ford in sales and in innovations. In the late 50's and early 60's Ford produced cars that were just not selling and were real failures in the industry. Iacacco knew something had to be done, and he convinced president and CEO Henry Ford Jr. that he was the man to do it. Through many months of close arduous work with Ford's design team, Iaccoca came up with the Idea of the Mustang. Ford Jr. was no t at all excited about the idea, but at this point he figured he had nothing to lose. He decided to give Iacocca's Mustang a shot. This shot in the dark not only turned out to be the Ford Motor Companies' biggest success, but also the biggest automotive success in the world. In the first quarter of 1964, Mustang sales marked the highest level of automotive sales in history. In one year 418,812 Stangs were sold to American car buyers. No matter what anyone said, Iacocca was convinced that his Mustang would be a success. Actually, it ended up single handedly saving the Ford Motor Company from bankruptcy. At this point, Iacocca was known as a powerful and knowledgeable force in the automotive industry. However, this success and power came at a price. Henry Ford Jr. saw the success and praise Iacocca was receiving. He became scared that Iacocca was working toward eventually taking over Henry Ford's position as president and CEO of Ford Motor Company. The only solution Henry Ford saw to this problem was to fire Iacocca before he had the chance to take over his position at the top. Being fired after over 30 years of successful work at Ford left Iacocca scared and bitter towards Ford forever. At the age of fifty-four Iacocca felt too young to retire but too old to start working in a new kind of business. It turned out that he would not even have time to think about that dilemma. Chrysler was a failing company who needed the expertise and knowledge of Iacocca. Meetings between Iacocca and Chrysler were kept secret as to not involve the media. Iacocca wanted to be his own man; he was tired of working under someone else. He would not take a job with Chrysler unless he could be CEO and president.

ll Live In Infamy

Pearl Harbor, inlet of the island of Oahu, Hawaii, 10 km (6 mi) west of Honolulu, and the site of one of the principal naval bases of the United States. Early in the morning of December 7, 1941, Japanese submarines and carrier-based planes attacked the U.S. Pacific fleet at Pearl Harbor. Nearby military airfields were also attacked by the Japanese planes. Eight American battleships and 13 other naval vessels were sunk or badly damaged, almost 200 American aircraft were destroyed, and approximately 3,000 naval and military personnel were killed or wounded. The attack marked the entrance of Japan into World War II on the side of Germany and Italy, and the entrance of the United States on the Allied side. Soon after the attack, U.S. President Franklin D. Roosevelt appointed a commission of inquiry to determine whether negligence had contributed to the success of the Japanese raid on Pearl Harbor. The commission's report found the naval and army commanders of the Hawaiian area, Rear Admiral Husband E. Kimmel and Major General Walter C. Short, guilty of â€Å"derelictions of duty† and â€Å"errors of judgment†; the two men were subsequently retired. Other later inquiries, however, differed in their conclusions. The Congress of the United States, in an effort to dispose of the controversy, decided on a full, public investigation after the war. The bipartisan congressional committee opened its investigation in November 1945. Testimony from many people reviewed all known information about the attack on Pearl Harbor. The committee reported its findings in July 1946. It placed the primary blame on General Short and Admiral Kimmel, who, however, were declared guilty only of errors of judgment, and not of derelictions of duty. The committee recommended the unification of the U.S. armed forces, which occurred the following year. The USS Arizona National Memorial, standing above the remains of the battleship in Pearl Harbor, commemorates the Americ... 'll Live In Infamy Free Essays on A Day We\'ll Live In Infamy Pearl Harbor, inlet of the island of Oahu, Hawaii, 10 km (6 mi) west of Honolulu, and the site of one of the principal naval bases of the United States. Early in the morning of December 7, 1941, Japanese submarines and carrier-based planes attacked the U.S. Pacific fleet at Pearl Harbor. Nearby military airfields were also attacked by the Japanese planes. Eight American battleships and 13 other naval vessels were sunk or badly damaged, almost 200 American aircraft were destroyed, and approximately 3,000 naval and military personnel were killed or wounded. The attack marked the entrance of Japan into World War II on the side of Germany and Italy, and the entrance of the United States on the Allied side. Soon after the attack, U.S. President Franklin D. Roosevelt appointed a commission of inquiry to determine whether negligence had contributed to the success of the Japanese raid on Pearl Harbor. The commission's report found the naval and army commanders of the Hawaiian area, Rear Admiral Husband E. Kimmel and Major General Walter C. Short, guilty of â€Å"derelictions of duty† and â€Å"errors of judgment†; the two men were subsequently retired. Other later inquiries, however, differed in their conclusions. The Congress of the United States, in an effort to dispose of the controversy, decided on a full, public investigation after the war. The bipartisan congressional committee opened its investigation in November 1945. Testimony from many people reviewed all known information about the attack on Pearl Harbor. The committee reported its findings in July 1946. It placed the primary blame on General Short and Admiral Kimmel, who, however, were declared guilty only of errors of judgment, and not of derelictions of duty. The committee recommended the unification of the U.S. armed forces, which occurred the following year. The USS Arizona National Memorial, standing above the remains of the battleship in Pearl Harbor, commemorates the Americ...

Advanced English Tense Review (ESL, EFL, TESL, TOEFL)

Advanced English Tense Review (ESL, EFL, TESL, TOEFL) Its back-to-school time. Before you or your students get down to studying the specifics of various grammar structures, it is a good idea to review the basic English tenses. If you are an advanced student, a review will help remind you of the tenses and also point out any weaknesses or insecurity that you may have. If you are an upper-level student but not yet aware of all the tenses, these exercises will make a good introduction to some of the important structures ahead. For an overview of conjugation in detail of all 12 tenses in English, use the tense tables for reference. Teachers can use theses guides on how to teach tenses for further activities and lesson plans in class The following exercises serve two purposes: Re-familiarization of standard tense names Tense conjugation practice The first exercise is very important as you may not remember exactly the names of the various tenses. This exercise will help you remember the names of the tenses. Once you have finished the first exercise, read the text through one more time to familiarize yourself with it completely. Go on to the next exercise that asks you to conjugate the verbs in the extract. You should be very familiar with the extract so you can concentrate on the correct conjugation. Notice how the tenses relate to each other in time. Remember that many verbs are conjugated based on how they relate to one another. Teachers can use these exercises in class by using the following lesson plan which includes the exercises in a format useful for the classroom. Tense Review Lesson Plan and Materials Here is the original text. Once you have finished, click on the exercise link to begin exercise one. John has always traveled a lot. In fact, he was only two years old when he first flew to the US. His mother is Italian and his father is American. John was born in France, but his parents had met in Cologne, Germany after they had been living there for five years. They met one day while Johns father was reading a book in the library and his mother sat down beside him. Anyway, John travels a lot because his parents also travel a lot. As a matter of fact, John is visiting his parents in France at the moment. He lives in New York now, but has been visiting his parents for the past few weeks. He really enjoys living in New York, but he also loves coming to visit his parents at least once a year. This year he has flown over 50,000 miles for his job. He has been working for Jackson Co. for almost two years now. Hes pretty sure that hell be working for them next year as well. His job requires a lot of travel. In fact, by the end of this year, hell have traveled over 120,000 miles! His next journey will be to Australia. He really doesnt like going to Australia because it is so far. This time he is going to fly from Paris after a meeting with the companys French partner. Hell have been sitting for over 18 hours by the time he arrives! John was talking with his parents earlier this evening when his girlfriend from New York telephoned to let him know that Jackson Co. had decided to merge with a company in Australia. The two companies had been negotiating for the past month, so it really wasnt much of a surprise. Of course, this means that John will have to catch the next plane back to New York. Hell be meeting with his boss at this time tomorrow. Follow the links to begin the exercise: Exercise One: Tense Identification Exercise Two: Tense Conjugation

660 Assignment 5 Example | Topics and Well Written Essays - 500 words

660 5 - Assignment Example Situational leadership model has outlined three critical elements that come into play in the situational leadership theory. Among them is the leader, the followers and the circumstance/situation at hand that has to be handled. Applying this theory to Windber Medical centre and its administration by F. Nicholas Jacob, we get all the three factors of the theory coming into play. First we have Jacob has the leader, the followers being the workers and the situation being the poor state of performance of the hospital in terms of service delivery and its remuneration to its workers. Jacobs’ approach to the situation was one that depicted his task behavior and at the same time relationship behavior. He talked to the workers in a bid to know what they would want done about their workplace to improve the situation. More so he reached talks with the surrounding community in his efforts to establishing good relations with them. He got engaged in instructing the workers what to do, selling ;by extending his relations to the surrounding community, participating and delegating some duty to his juniors for instance putting somebody in charge of the food service. This refers to a follower’s ability and willingness to successfully accomplish a specific given task. This does not evaluate the individual/group’s innate values and qualities. In applying this to Jacobs’ case we find that 32 employees who were not willing and ready to cope up with the new working conditions were laid off as others joined the institution amidst impressive economic and developmental performance. A continuum ranging from R1(lowest readiness) to R4(highest readiness) has been crafted to show the extent of this ability and willingness by the followers to perform task. The task to be accomplished by Jacobs as the president of Windber was to raise the performance of the institution and make sure it’s not closed down. Jacobs had to ensure the old structures

To what extent does misbehaviour in organisations represent a Assignment

To what extent does misbehaviour in organisations represent a challenge to managerial authorityDiscuss, with the aid of relevant examples and theories - Assignment Example From my personal experience during my group work assignment, there were instances where group members misbehaved and challenged the authority of the leader. When the group was being formed, as Schwartz (2005, pp. 1-2) advices, some ground rules were made and every group member was expected to adhere to these rules. However, one of the most common misbehaviors was concerned with some members failing to do contribute anything towards the group work (Borg et.al 2011, p. 113). For example, during group meetings, we would discuss the issues to be covered before the next meeting and every member would be expected to make a contribution. However, some of the members would fail to do any research and would come to the next meeting with nothing to show. We realized that the cause of such misbehavior was the failure by the group leader to assign specific duties to specific members. The theory of labor process analysis can be used to explain such an occurrence. As Braverman (1974, p. 52) writes, management is able to control productivity by ensuring that labor is well divided within the organization. Accordingly, in subsequent group meetings, we would discuss the issues to be handled before the next meeting and each member would be given a specific assignment to complete and present to the group. Consequently, it was much easier for the group leader to exercise control over the group’s productivity with everyone having a particular task to execute (Stewart, 2014, p. 14). In the course of working as a group, I also noticed that in some cases, some members were not willing to accept the individual weaknesses of others within the group. Clearly, group works bring together people with different personalities and capabilities and expect such people to work harmoniously. In our group, there were those people who paid more attention to detail than

Environment Analysis Essay Example for Free

Environment Analysis Essay Organizations analyze the environment in order to understand the external forces so that it could help to develop effective responses to secure or improve their positions in the future. There existed a positive relation between environmental analysis and profits of an organization. Top management looked at information in two ways: viewing and searching information. This information needed to be evaluated and disseminated to strategists within the organization and to help top management to make decisions that could create strategic advantage for the organization to succeed in a changing environment 1. There were research evidences that showed that environmental analysis was linked with improved organizational performance. Hence, it remained insufficient to assure performance, without aligning information with strategy. The main debate in strategy and environment was concerned with the primary importance of the environmental analysis in strategy formulation and implementation. 84 Reserve Bank of India The Reserve Bank of India is fully owned by the Government of India. Initially it was viewed to bring the greater coordination of the monetary, economic, and financial policies. During fifties objectives of Reserve Bank of India underwent changes. It was recognized that Reserve Bank of India needs to take on direct and much more active role, in developing machinery for financial development in order to ensure flow of finance in the country. Reserve Bank emerged as a regulatory and a growth promoting institution. In the beginning limited to the agricultural sector, the Bank later covered small-scale industries as well. The affairs of Reserve Bank of India are governed by the central board of directors. The board is appointed by the Government of India according to the Reserve Bank of India Act. The preface of the Reserve Bank of India describes the basic functions of the Reserve Bank as: â€Å"to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage† 2. The Reserve Bank? s freedom may be viewed broadly to the areas like management including personnel matters, financial aspects, and to conduct polices. Managerial freedom refers to the procedures for appointment, term of office and dismissal procedures of top central bank officials and the governing board. It also includes the extent and nature of representation of the Government in the governing body of the central bank. 85 Financial freedom relates to the freedom to decide the extent of Government expenditures directly or indirectly financed by the central bank? s credits. Finally, policy freedom is related to the flexibility given in the formulation and execution of monetary policy, under a given authorization. Reserve Bank of India has over the years been responding to changing economic circumstances. The Reserve Bank of India performs the function of financial supervisor under the guidance of Board for Financial Supervision. This board undertake consolidated supervision of the financial sector comprising of Commercial Banks, Financial Institutions, and Non-Banking Finance Companies. The key functions played by this board were restructuring of the system of Bank, introduction of off-site scrutiny, strengthening the role of legislative auditors, and strengthening the internal defences of supervised institutions. Currently this board focus on supervision of financial institutions and legal issues in Banks. Reserve Bank of India acts as a guard for Commercial Banks. Commercial Banks are required to keep a certain proportion of cash reserves with the Reserve Bank and Bank provide them various facilities like advancing loans, underwriting securities etc. Reserve Bank of India controls the volume of reserves of Commercial Banks and thereby determines the deposits and credit creating ability of the Banks. Whenever Commercial Banks need funds they get it from the Reserve Bank of India. Apart from playing the role of Banker to the Banks, Reserve Bank of India also play promotional role. The aim is to establish and assist the establishments of a number of financial intuitions for filling up of various financial institutional gaps in the rural and semi-urban areas. 86 Other roles played by Reserve Bank of India are: Reserve Bank stabilizes the external value of the national currency. The Reserve Bank keeps gold and foreign currencies and manages foreign currency in accordance with the controls imposed by the government. Reserve Bank of India facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India. Reserve Bank has taken the responsibility of meeting directly or indirectly all legitimate demands of Commercial Banks under emergency conditions and to a certain extent Reserve Bank influence the credit policy of Scheduled Banks. The Reserve Bank has instrument of control in the form of the bank rate, which it publishes from time to time 3. A list of the Reserve Bank of India Committees from 1990- 2008 was prepared to get an impression about developments with respect to Banking Industry (Appendix- III). The recommendations resulted into remarkable changes in products and policies of Banking Organizations. Indian Bank’s Association (IBA) Indian Bank? s Association is a leading service organization of Banking Industry in India. It aims to integrate Banking and finance system catering to all financial requirements of customer? s. It was formed in 1946 with 22 members. Today Indian Bank? s Association has more than 159 members comprising of Public Sector Banks, Private Sector Banks, Foreign Banks (having offices in India), and Urban Co-operative Banks. 87 The main objectives of Indian Bank? Association are: promoting and developing sound and progressive Banking principles and practices in order to assist Banks to develop and implement new ideas and innovative Banking services, operations and procedures; organizing co-ordination and co-operation on procedural, legal, technical, administrative or professional problems and practices of Banks ; circulating statistical data, informati on, views and opinions on the Banking System; conducting Management Development Programs for Banks; promoting education and knowledge of the law and practices of Banking Industry; to help in projecting good public image of Banking Industry ; and to promote harmonious relationships by devising ways and means for involving Banking personnel? in the growth and development of Banking Industry. Indian Bank? s Association tries to achieve excellent service quality and customer care through its focused efforts to make each customers experience a pleasant one. Towards this end Indian Bank? s Association stressed on to build staff potential by each Bank to address customer challenges and asked Banks to design a performance management system, which focuses on rewarding the staff for delivering flawless customer service. In 2000, Indian Bank? s Association reviewed the charters of different Banks and brought out a „Model Citizen Charter? explaining to the customer? s what they could expe ct from the Bank? s as a matter of right. Apart from this Indian Bank? s Association brought „bankers fair practices? in 2004 which was adopted by all Banks voluntarily. It also came out with „fair practice code for credit card operation? and „model code for collection of dues and repossession of security? with special concern to customer? s voice about Banking practices 4. 88 Ministry of Finance Ministry of Finance in India governs the entire fiscal system of the Government of India. The three departments headed by the Ministry of Finance in India include: economic affairs, expenditure, and revenue. Thus, it mainly centralizes around the economic and financial issues pertaining in India. Ministry of Finance Government of India, Banking Division is managing Government policies related to the working of Banks and the term lending to financial institutions. This Division is headed by Secretary (Banking and Insurance) and operates through three subdivisions: Industrial Finance; Banking Operations; and Banking and Insurance. Each subdivision is headed by a Joint Secretary. The Banking Operations sub-division deals with legislative proposals described to Banks, non-banking financial companies, and other related matters like appointments of Chief Executives and Government nominee Directors and non-official directors on the boards of Public Sector Banks. In addition policy matters relating to Private Banks, Foreign Banks, and improvement of customer? service in Banks and redressal of customers grievances are also dealt with this Banking Operations sub-division of Ministry of Finance. This sub-division also deals with vigilance matters and appoints Chief Vigilance Officers (C VO? s) in the Public Sector Banks to enable the Public Sector Banks to meet the credit requirements for the productive sectors of the economy in proportion to the economic growth of the country. The Government is committed to infuse capital funds in Public Sector Banks as well 5. 89 Nature of Banking Industry Bank? s safeguard money and valuables and provide loans, credit, and payment services, such as checking accounts, money-orders, and cashier? s checks. Banks also offer investment and insurance products which they were once prohibited. There exists variety of models for cooperation and integration among finance industries some of these traditional distinctions between Banks, Insurance Companies, and Securities Firms has diminished. In spite of these changes, Banks continued to maintain and perform their primary role of accepting deposits and lending funds from these deposits. Banks securely save the money of depositors, provide checking services, and lend the funds raised from depositors to consumers. Bank? s today are in a wide range of sizes, from large Global Banks to Regional and Community Banks. These Global Banks are involved in international lending and foreign currency trading, in addition to the more typical Banking services. Working Environment Employee? in a typical branch work weekdays, whereas in few Banks sometimes Banks were opened until late evenings or were open on Saturday morning? s and in few even on Sundays. Supervisory and managerial employee? s, usually work substantially longer hours. Some B anks are expanding the working hours in their branches which are located at non- 90 traditional locations, such as shopping malls, which remain open on most evenings and weekends. Branch office jobs, particularly front-end positions, required continuous communication with customers. Some employees needed to work for longer hours in a confined space. Loan officers might need to travel to meet clients, or work evenings for their clients. Loan officers also check loan applications, and solicit new business for Banks. Financial Service Sales Representatives might also have to visit clients in the evenings and on weekends to go through the client? s financial needs. To improve customer service and provide greater access to Bank personnel? s, Banks have staffed Customer Service Representatives. The remaining Bank employees, working at the headquarters or other administrative offices usually worked in comfortable surroundings and worked for a standard workweek. In general, Banks are considered relatively safer place to work with respect to injuries and illness. Banks also encourage higher education and training for their employee? as Banks require creative and talented people to compete in the market place so as to reach to more number of customers. The basic premise here is to Study the relevant data and derive some information related to the Strategic Environment pertaining to Indian Banking Industry, which may be used in due course in a broader context if not in specific context. Environmental factors influencing Banking Industry are: 91 Economic Factors Indian economy has registered impressive growth of over 9 percent for successive three financial years and experienced restraint in 2008-09. This restraint was caused due to the downturn in the global economy. The year 2008-09 was the most deficient year after 1972. To fight against this slowdown Government of India and Reserve Bank of India took many fiscal as well as monetary actions. It was expected that Indian economy could again register a robust growth rate in the year 2009-10. As per the revised estimates released by the Central Statistical Organisation (CSO), Indian economy grew by 7. 6 percent in 2008-09 and 9. 3 percent growth in the 2007-08 6. Banks lending to industries, personal loans and service sectors witnessed a slow down while, Banks lending to agriculture and allied activities moved upward during 2008-09. The income as well as the expenditures of Scheduled Commercial Banks viewed a slow down leading to decrease in the net profit. The Return on Assets (ROA) as an indicator of efficiency with which Banks deployed their assets remained to 1 percent in 2009. The Return on Equity (ROE) as an indicator of efficiency with which the Banks used capital increased to 13. 2 percent in 2009 from 12. 5 percent in 2008, indicating increased efficiency with which Banks used capital 7. 92 Growth of income of Scheduled Commercial Banks during 2008-09 decelerated to 25. 7 percent from 34. 3 in 2007-08, but was higher than the growth rate of 24. 4 percent in 200607. Expenditure of Scheduled Commercial Banks was 24. 1 percent in 2006-07, which increased to 33. 9 percent in 2007-08 and again decelerated to 26 percent in 2008-09. The operating profit of Scheduled Commercial Banks increased sharply by 33. percent during 2008-09 from 26. 8 percent in 2007-08 and 21. 3 percent in 2006-07 (Table II. 1). The net profit of Scheduled Commercial Banks also showed a significant increase of 36. 9 percent during 2007-08 as compared to 26. 9 p ercent in 2006-07, but it decelerated to 23. 5 percent during 2008-09(Table II. 1) TABLE II. 1 VARIATION IN INCOME-EXPENDITURE OF SCHEDULED COMMERCIAL BANKS 2006-07 Income Expenses Operating Profit Net Profit 24. 4 24. 1 21. 3 26. 9 2007-08 34. 3 33. 9 26. 8 36. 9 2008-09 25. 7 26. 0 33. 2 23. 5 Source: Reports on Trend and Progress of Banking in India 8, 9 The Bank Group-wise analysis is presented in Table II. 2. Even though the achievements of technological changes in Banking Industry in India were impressive but there is a need to take greater advantages from new technologies and information based system to maximize the coverage. Pricewaterhouse Coopers report 18 suggested that Banks should take up automation that would be a combination of centralized networks, operations and a Core Banking applications that included Business Intelligence (BI), Business Process Re-engineering (BPR), and Customer Relationship Management (CRM) that catered to operational and analytical business needs. The multi-channel Banking has acquired further dimensions to include third party payments such as utility bills through different channels including Automated Teller Machines and mobile banking. Bank? internal groups examined the issues, relating to rural credit and micro-finance opportunities in the sector with several possible options like smart card-based kisan credit cards, smart card solutions for self-help groups, Automated Teller Machines with local language and voice facility and call-center amenities with added services given by various Banks. Introduction of Kisan Credit Cards (KCCs) for providing credit to farmers had increased in the number a multi-fold since its inception in the late 1990? s and the total percentage share of these cards reached above forty percent 19. 97 Banks had transformed themselves into Universal Banks by adding new channels with lucrative pricing. Recent innovations in the form of total quality management, reengineering work processes, flexible systems have only one thing in common serving the customers well through improved operational efficiency. Consolidation in the Banking Industry followed by technological up-gradation acted as a key factor to boost the international competitiveness of the Indian Bank? s. Adapting technology had brought down the cost of transactions visibly and at the same time aided in business continuity. A Study mentioned that the cost per transaction through a branch was Rs. 66, cost per transaction ; through Automated Teller Machines was Rs. 22, and cost per transaction through internet was Rs. 0, ignoring the extreme variations owing to the investment cost and nature of transactions 20. This low cost benefit was opted by Commercial Banks as it helped them to reach to poor people, particularly those working in the rural areas and those who earn and spend cash. In order to handle their cash transactio ns Banks formulated two types of Information and Communication Technologies (ICT). People could either use Automated Teller Machines that could accept, store or dispense cash or they could use a biometric device, which were mobile in nature. Infrastructure in India, has improved resulting into widespread use of Automated Teller Machines facility in villages as well. These machines consisted of additional features that included fingerprint use as a mean of authentication with a view that rural people were more comfortable with fingerprints than plastic cards. 98 The wide geographical coverage to access Banking related products and services with the help of mobile phone technology and the use of internet for banking transactions has gained superior usage. These modes of transactions required a safe and secure environment and provide a variety of options available for customers with different requirements. The numbers of mobile phone subscribers in India were about 261 million (March 2008). Towards this end, Reserve Bank of India issued guidelines for mobile banking transactions. Initially Banks offered the facility to their customers subject to a daily cap of Rs. 5,000 per customer for fund transfer and Rs. 10,000 per customer for transactions involving purchase of goods or services 21. Usage of internet banking in India is mainly dominated, by Private and Foreign Banks. Still, the number of individuals utilizing internet services has increased considerably. In 2006, about 12 percent of the 38. 5 million internet users in India used online banking and the figure for online banking increased to 16 million in 2007-08 22 . The average cost of servicing a customer through internet banking is the tenth of the services extended through a branch. Thus, there is a direct contribution to the profitability for a Bank and therefore, internet banking became a potential low cost alternative 23 . From customer? s viewpoint, internet banking is highly convenient as it help to avoid branch queues and makes customer free from depending on the inconsistent quality of services at the branch, which varied from person to person at the service desk. Internet Banking allowed customers to operate their accounts at their convenient hours instead of being dependent on the Banks working hours. Moreover, internet banking permitted customers to transact on a 247 basis from any part of the world. 99 Therefore, internet banking delivery channel has the potential to contribute directly towards the nation? prosperity as it allowed more people to join the Banking stream without adding cost and it is tremendously convenient to customers. Reserve Bank of India started measures to create multi-lingual links on its website for thirteen Indian languages on all matters concerning Banking in June 2007 24. In the recent years, the use of electronic payments has witnessed manifold increase reflecting increased adoption of technology. The electronic payment systems comprised of the large value payment systems like Real Time Gross Settlements (RTGS), National Electronic Funds Transfer (NEFT) and card based payment systems. The growth of volume of transactions directed through electronic payment has decelerated from 41. 4 percent in 2007-08 to 24. 8 percent in 2008-0925. The numbers and usage of Automated Teller Machines had gone up substantially during the last few years. Automated Teller Machines were primarily used for cash withdrawal and balance enquiry. In 2008-09, the total number of Automated Teller Machines installed by the Banks grew by 25. 4 percent. Automated Teller Machines of State Bank of India group registered a sharp growth of 34. 5 percent. While the Automated Teller Machines installed by new Private Sector Banks and Foreign Banks was 3 times of their respective branches 26, 27 . In March 2008, the population per automated teller machines in India was more than 29,500 as against the range of 1,000-9,500 in some of the other emerging market economies 28, 29 . In June 2009, Reserve Bank of India permitted Scheduled Commercial Banks to install off-site Automated Teller Machines at places identified by them, without any need to take permission from the Reserve Bank of India. Cash withdrawal from Automated Teller Machines of the Bank? s was made free of charges, April 2009 onwards. This made Automated Teller Machines more popular among customers. 100 Banks had deployed Information Technology solutions to facilitate automation in transaction management, reporting and risk management. Most of the Banks across the segments had already implemented Core Banking Systems. In the 2007, 85. 6 percent and in the 2008, 93. 7 percent Public Sector Banks were fully computerised 30, 31 . Other rograms such as internet based transactions, self-service kiosks, mobile banking were either underway or planned in near future by Public Sector Banks. Foreign Sector Banks and old and new Private Sector Banks in India, had progressed well in the areas of technology up-gradation i n operations. Technology up-gradation helped to introduce new products and services to enable Banks to improve the quality of service and value added services. Overall, Indian Banks score well with respect to technological adaption and the three key characteristic contributing towards the effective use of information technology in Banking Industry were: ? Factor Cost Advantage- information technology related labour costs in India remained cheaper as compared to other countries; ? Distribution Strategy- Indian Banks adopted a unique business model, acquiring customers rapidly with minimal technological investments; and ? Information Technology Governance- Indian Banks emphasized on information technology governance with the strong in-house Information Technology Division and a Chief Information Officer (CIO) directly reporting to the Chief Executive Officer (CEO) in most cases. 101 It is information that made the Banking Industry stable. The pressure of competition and the need to improve productivity has generated a need for better information. In order to manage Banking operations to meet the needs of managers operating at tactical and strategic level and to improve their quality of decisions and policymaking processes within the Banks. Banks needed to set up an efficient and comprehensive Management Information System (MIS) without which asset and liability management and risk management were not possible. However, adoption of technology by Banks provided them competitive advantage in their operations but at the same time Banks became dependent on outsourcing for most of their technological applications. Therefore, Banks needed to employ caution to put in place mechanisms for vendor management. As an insecure system, could expose Banks towards serious operational regulatory and reputational risks. Banks have taken measures to safeguard the risk factors, emerging due to the use of technology. Towards this end, the Institute for Development and Research in Banking Technology (IDRBT) helped Banks to bring in technology and enabled them to work in secured environment while operating Real Time Gross Settlements System, Centralised Fund Management System (CFMS), corporate e-mail, and internet banking. It also acted as a „certifying authority? for the Banking Sector in India by issuing Digital Certificates 32 . Still there exists need to ensure much more accountable systems with regard to online payments with uniform standards all over the world. 102 Social Factors Before nationalization of the Banks, their control was in the hands of the private parties and only big business houses and the effluent sections of the society gained benefits from the Banking in India. Thus, adoption of the social development model in the Banking Sector was necessary for speedy economic progress consistent with social justice in democratic political system. Bankers were directed to help economically weaker sections of the society and to provide needed finance to all the sectors of the economy with flexible and liberal attitude. India? s demography had undergone transition and the demographic trends 1950 – 2050 studied, illustrates that India? s fertility rate is consistently falling from the peak 5. 91 percent in the first decade after independence to 2. 76 percent today and expected to fall further to 1. 85 percent. Even the death rate also likewise showing consistent decline from its peak 25. 5 in 1950-55 to 8. 5 today and to the lowest of 7. 9 in 2020-2025 33 . This ignifies towards steady number of customers for Banking Sector with longer income in the coming years. Indeed, India would be one of the youngest nations with its median age lying between 25 a nd 30 years over the next 15 years (2010 to 2025) 34. This signified that India would enjoy its prevalence of young age population for almost four decades. Thus, India? s demographic transition needed to be exploited by Banking Sectors viewing it as an opportunity. 103 Increase in the per capita income of the working class population of India, enabled individuals to purchase goods, which were far out of their reach earlier. It also encouraged people to buy goods for their personal use and for their family. Today societies have shifted towards nuclear family, resulting into the growing needs for home consumer durables like washing machine, television, bike, car etc. This showed how we as a society have moved from a socialist society to a consumerist society. Understanding these changes and to use them as an opportunity Banks provided various types of loans to farmers, working women, professionals, education loan to the students, housing loans, and consumer loans. Even customers life style, their behaviour, and consumption patterns have changed which acted as an opportunity as well as a threat for Banking Industry. Deposits showed a subdued growth during this decade. In 2008- 09 personal loans by Commercial Banks was 12. percent with respect to 10. 8 in 2007-08 of which housing loan was 11. 6 percent in 2007-08 and 7. 4 percent in 2008-09 35 . This deceleration was observed in housing loans especially due to economy slow down. Literacy rate in India is low as compared to other developed countries. Illiterate people hesitate to transact with Banks. Therefore, this influenced negatively on Banking Industry. Nevertheless, there exists positive side of this as well that illiterate people trust more on Banks to deposit their money as they do not have market information they do not put money in stocks or mutual funds so they look Bank as their sole and safe alternative. For a common man Banks have emerged as the key players to provide variety of products and services like saving accounts, insurance, remittance and other facilities to the under privileged and the poor in rural, semi-urban and urban areas or socially disadvantage as well as the small and medium enterprise sector . 104 On the other hand Banks deal with big clients or big companies which required personalized banking as these customers do not believe in running and waiting in queues for getting their work done . To these customers bankers provided special provisions and at times benefits like individualised hosting to these types of customers. It was brought to the notice of the Reserve Bank of India that visually challenged persons were facing problem in availing Banking facilities. Reserve Bank of India in June 2008 advised all Banks to ensure that all facilities such as cheque book including third party cheques, Automated Teller Machine facilities (at least one third of new Automated Teller Machine installed with Braille key pads and located strategically), net banking, locker, and credit cards to be provided to visually challenged persons without any discrimination 36. Banks related crimes are rising. These crimes included the typical ones such as Bank robbery, false statement to a Bank in order to obtain loan, false entry in a Banks book, Bank bribery, and Bank fraud. The other new types of crimes have also emerged like accessing to the whole or any part of information technology system without rights. These also included manipulation of Banking system, data alteration, or data destruction to make unauthorized identity theft with reference to Automate Teller Machines. Indian police has initiated by opening of special cyber cells across the country and started educating the personal against these crimes. 105 Political Factors Before 1990, the lack of accountability and lack of profit motive in Nationalized Banks was credited to political interference. After the economic reforms of 1991, the Indian Banking Industry entered into the new horizon of competiveness, efficiency, and productivity. Reserve Bank of India? s control system and its monetary policies acted as a major weapon in India? financial market. However, sometimes looking into the political advantage of a particular party, Government declares some measures for their benefits like short-term agricultural loans to attract farmer? s votes affecting the profits of the Banks. Even according to Banking Banana Skins, survey 2010 political interference was considered as the greatest risk for Banking Industry 37. In the Budget provisions, Finance Minister increased the farm credit target for 2009-10 at Rs. 3, 25,000 crore compared to Rs. 2, 87,000 crore in 2008-09. The Union Budget 200910 extended the debt waiver scheme by six more months for farmers owing more than 2 hectare of land. The Union Budget 2008-09 allowed farmers 25 percent rebate on 75 percent of their overdue repayment within the stipulated period 38 . Government also announced setting up of a task force to examine the issues of debt taken by a large number of farmers in some regions of Maharashtra from private moneylenders who were not covered under the loan waiver scheme 39 . With Government bearing this burden, Banks would not be affected much. As Government assured to help, Banks to clear their most stubborn non-performing assets accounts on Banks Book. In addition, the emphasis on expanding network with Automated Teller Machines, opening of Banking centre in unbanked blocks were some of the positive moves taken by Government. 106 Political interference by the leftist political parties claimed that various regulations with respect to Foreign Banks would benefit only those Banks, which intend to make a quick jump by providing high-profile corporate services, instead of those who wish to intensify their rural operations. Left political parties also cautioned that foreign players could increase their holding size in a particular Bank that would lead to an imbalance of power. Banks under the conventional system of recovery of loans had a considerable amount of money blocked in form of unproductive assets. Hence, to beat this difficulty parliament enacted Recovery of Debts to Banks and Financial Institutions Act, 1993 also refereed as Debt Recovery Act. This Act created a separate apparatus in the order of Debt Recovery Tribunals, which were handed over the responsibility of administering disputes pertaining to non-payment of debts. As this legislation was general in nature, another legislature by Parliament was enacted , referred as Securitization Act with an objective to give the Banks, more power over defaulting borrowers 40,41. Unions The post nationalization era in the Banking Industry in India, particularly in the Public Sector, witnessed consolidation of trade unions. All the nine unions had all-India presence in the Banking Industry. Five workers unions and four officers unions represented almost 100 percent of the workforce in the industry and joined hands to form a United Forum of Bank Unions (UFBU). United Forum of Bank Unions comprised of All India Bank Employees Association, (AIBEA), All India Bank Officers Confederation (AIBOC), 107 National Confederation of Bank Employees (NCBE), All India Bank Officers Association (AIBOA), Bank Employees Federation of India (BEFI), Indian National Bank Employees Congress (INBEC), Indian National Bank Officers Congress (INBOC), National Organization of Bank Workers (NOBW) and National Organization of Bank Officers (NOBO) 42. Representatives of unions were encouraged to give suggestions. However, in many cases undue interference of unions in decision-making has adversely affected, leading to the deterioration in discipline, efficiency, and performance effectiveness. With the growing strength of these organizations, the issues relating to employees interests were no longer determined by Bank? s managements alone. The massive introduction of technology into the industry made union policies defensive. Unions focused almost entirely on the immediate consequences of technological change on the workforce, especially the aspect of possible job losses. Employees in Public Sector Banks were repulsive to move from one table to another of the same branch. Now the trade unions seem to be willing to allow mobility for employees within a district as mergers enforced them to move from one state to another. Other issues taken up by unions were like introduction of New Pension scheme and variable pay which were resolved with the help United Forum of Bank Unions. Banks unions are also involved in demanding salary hikes, job losses, disinvestments in Public Sector, and issues related to violation of labour laws, and allocation of funds for schemes for unorganised workers. 108 After attempting, the macro level environmental analysis of Indian Banking Industry a micro functional level Human Resource Environmental Analysis has been attempted with the help of SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats), it would help to further develop strategic viewpoint about the industry (Table II. 4). TABLE II. 4 HR SWOT ANALYSIS WITH RESPECT TO INDIAN BANKING INDUSTRY STRENGTHS ? ? ? ? ? ? ? Educated Manpower Higher Compliance Amongst Employees Experienced Employees Training Infrastructure Availability Safe Working Environment Responsiveness to Needful Change Strong Regulatory Institutional Framework ? ? ? ? ? OPPORTUNITIES Liberalization of Banking Sector Preferred Industry for Employment Availability of Multi-specialist staff Technology for Improved Interpersonal and Communication Skills Workforce Diversity WEAKNESSES ? ? ? ? ? ? ? ? Limited Technology Skills Repetitive Tasks Structure Inadequate Remuneration for Attracting Talent Lacking Career Growth Path Rigid Recruitment Policies Hierarchal Structure Rigid Wage Negotiation Process Leadership Deficit at Senior Level ? ? ? ? ? ? ? THREATS Movement of Skilled and Quality Staff Difficulty in Hiring Highly Qualified Youngsters Trend Towards Downsizing Changing Workforce Demographics High Staff Cost Overheads Changing Employees Expectations Entrenched Trade Unionism 109 Key Concerns for Indian Banking Industry The macro level analysis of Banking Industry and micro level analysis with respect to Human Resource functions helped to identify the key concerns related to the Banking Industry. Competition in Banking Industry is very high as Banks are fighting for same share of customers. There are many Banks and non-financial institutions which gave rise to intensified competition. Amongst these, there existed relatively no differentiation in services and every Bank tried to copy each other? s services and technology which increased the level of competition. Competition from the non-Banking financial sector is increasing rapidly as there are substitutes like mutual funds, stocks (shares), government securities, debentures, gold, and real estate acting as a high threat of substitutes. The continuous deregulation has made the Banking Market extremely competitive with greater autonomy, operational flexibility, decontrolled interest rate, and liberalized norms for foreign exchange. The deregulation of the industry coupled with decontrol in interest rates had led to the entry of a number of players in the Banking Industry 43. Alliances and takeovers had occurred on a transatlantic basis. The market share for financial services that Banks hold had declined, while securities firms, mutual funds, and finance companies has grown 44 . Banking Sector needs to build up a strong and efficient financial system by emphasizing on risk based management. 110 In Banking Sector, customers have high bargaining power due to the presence of very large number of alternatives. Banks together with the specialized financial companies that provide finance to customers are available. Recently it was observed that depositors had withdrawn funds from Private and Foreign Banks and invested their money with Public Sector Banks as the cost of switching from one Bank to another was low and almost all Banks provided undifferentiated services. Today customer? s have more information and better understanding about the market, Banks have to be more competitive and customer friendly to serve them. To retain customer? s and market share, Banks started contemplating on building strong relationship with customers. United Bank of India created a revolution in Banking Industry by opening up a boutique branch in Pune in November 2007, as its priority was to provide services to the high net worth customers. Thus, United Bank also recognized the needs of high net worth individuals different from the other customers. United Bank organized corporate golf tournament for customers, music concerts, and screening of Mani Ratnam directed film „Guru? 45 . Bank? s top management has started carefully evaluating the impacts for their actions. Recently, before cutting jobs in Private and Foreign Banks, Human Resource managers tried to assess reactions beforehand and they came out with certain proactive steps. Banks persistently worked in the interest of the Society. This chapter focussed on the environment analysis which is, undoubtedly, required for strategy formulation, and at the same is relevant as a backdrop for strategy implementation. For instance, the needful Human Resource Practices have to be continuously evolved and implemented against the ever-changing macro and micro environment of the Banking Organizations. 111 REFERENCES 1. Wei, C. C. (2001) Environmental Scanning as Information Seeking and Organizational Learning, Information Research, 7(1). 2. About us retrieved on 26 December 2010. 3. Goyal, O. P. (1979) Financial Institutions and Economic Growth of India, New Delhi: Light and Life Publishers. 4. About Us retrieved on 26 December 2010. 5. retrieved on 28 December 2010. . Reserve Bank of India (2008) Report on Trend and Progress of Banking in India 2007-08, lt; www. rbi. orggt; retrieved on 25 December 2009. 7. Reserve Bank of India (2008) Report on Trend and Progress of Banking in India 2007-08, p. 115. 8. Reserve Bank of India (2008) ibid (7), p. 114. 9. Reserve Bank of India (2009) Report on Trend and Progress of Banking in India 2008-09, p. 125. 10. Reserve Bank of India (2008) ibid (7). 11. Reserve Bank of India (2009) ibid (9). 12. Reserve Bank of India, (2008) ibid. (7), p. 115. 13. Reserve Bank of India, (2009) ibid. (9), p. 125. 14. Chandrasekhar, C. P. (2005) What is Happening to Indian Banking? Frontline, 22(4): 12 – 25. 15. Reserve Bank of India (2008) ibid. (7), p. 116. 16. Reserve Bank of India (2009) ibid. (9), p. 127. 112 17. Reserve Bank of India (2009) ibid. (9), p. 142. 18. PricewaterhouseCoopers Report (2006) retrieved on 25 December 2009. 19. Raju, S. (2010) Financial Inclusion: Enabling Inclusive Growth. The India Economy Review, 7:42-49. 20. Sekar, G. V. Emerging Trends in Technology Adoption by Indian Banks and IT Governance – A Practical Guide, lt; http://www. cab. org. in/Lists/ Knowledge% 20Bank/ Attachments/43/Emerging%20Trends. pdfgt; retrieved on 3 June 2008. 21. Reserve Bank of India (2008) ibid. (7), p. 81. 22. Chandrashekaran, N. (2009) CII Banking Tech Summit, lt; http://www. financial express. com/news/indian-banks-behind-global-peers-in-technologypwc/438064gt; retrieved on 24 March 2009. 23. Jayawardhena, C. and Foley, P. (2000) Changes in Banking Sector The Case of Internet Banking in UK. Journal of Internet Research: Networking and Policy, 10(1):19-30. 24. Rao, R. (2000) Banking @ The Speed of Thought, Business India, October 30November 12: 71-108 25. Reserve Bank of India (2009), ibid. (17). 26. Reserve Bank of India (2009) ibid. (9), p. 141. 27. Reserve Bank of India (2009) ibid. (9), p. 261. 28. Reserve Bank of India (2008) ibid. (7), p. 130. 29.

Macroenvironmental analysis of Computer industry :: essays research papers

The national/international economy Opportunities *upswing of national economy * The Tax Relief Reconciliation Act of 2001 has begun a decline in the taxes on American households, and will continue to do so until they reach the final goal of a total of 3% drop in 2006. In addition, the Working Families Tax Relief Act of 2004, which is a supplement to the 2001 act, has increased the dollar amount for child tax credit. Therefore, American households now, more than ever, have large amounts of disposable income. * Recent legislation has reduced the amount of taxes for which small businesses are responsible. As a result of this recent legislation, there are three major areas of opportunity for small business owners to experience tax relief: (1) individual income tax returns, (2) growth incentives for small businesses, and (3) a reduction of taxes on dividends and capital gains. Therefore, this allows for more capital expenditures for small businesses. *mergers with overseas companies Threats *international economy in recession   Ã‚  Ã‚  Ã‚  Ã‚  *Earlier this year, the World Trade Organization ruled the U.S export-tax provision, which was intended to boost U.S. exports, illegal. After the ruling, the EU imposed punitive tariffs, now at 12% and rising 1% each month, on about 1,600 U.S. exports. If these high tariffs are left in place it will hurt the U.S by reducing export opportunities. In addition, many of our trading partners tax income earned within their borders only, while we tax the income of U.S. taxpayers regardless of where it is earned, therefore U.S. companies doing business overseas are often subject to a double tax on foreign earnings. * In the recently released World Economic Outlook for 2004, the International Monetary Fund has projected inflation in 2004 to be higher than that witnessed in the previous few years. For instance, inflation in the US is likely to touch a level of 2.1 per cent, larger than 1.6 per cent of 2003 and the past 3-year average of 1.7 per cent. This is seen as a threat because inflation has the ability to impact price levels in the country, which could potentially slowdown economic growth. * Despite the massive growth of the third quarter of last year, capacity utilization in the U.S. barely nudged up, from 72.4 percent to 72.6 percent. Capitalists therefore have little reason to build new factories and expand the system for years, keeping job growth substandard for a long time. Throughout this cycle, there will be the continuing shift of high-wage jobs in manufacturing to China and in services to India and elsewhere.

Personal Development and Lifelong Learning Sector

Personal Development and Lifelong Learning Sector sys cheesy unit 5 Continuing Professional and Personal Development In this assignment I will evaluate my own approaches to CUP, weigh up my strengths and developmental needs In relation to literacy, language and innumeracy needs. This will be continued to develop my knowledge by using my own reflection and the feedback I have received from others.The outcome will be to establish a plan to identify the opportunities I have and want to take to address my learning needs. During the second part of this assignment I will analyses and compare the relevant harries, principles and models of reflective practice how these theories and principles can be applied to my own development as an autonomous learner. Identify and engage In CUP opportunities and Identify previous CUP opportunities I have experienced, the good and the bad.To conclude in this part I will evaluate the impact to the CUP to my own professional practice and Identity any further developmental needs. In the final outcome I will analyses and compare the different teaching roles and contexts in the lifelong learning sector. I will go on to evaluate my own role and he responsibilities with reference to area of specialist and as part of a team. Finally analyses the impact of own professional, personal interpersonal skills on learners and others. Question one.Continuing Professional Development (CUP) is a process by which individuals take control to their own learning and development, by engaging In an on-going processor reflection and action (Whitaker, 2007) In critically analyzing my continuing professional and personal development I have used a number of sources as follows: * Terms of Reference * SOOT Analysis * Managing work self audit * Assertiveness audit * Intelligence test Time management tips * Stress management tips * Minimum core handbook * Lips with LULUS professional standards * Year one optional unit with my personal professional development plan i nitially started by looking what I add written on my Lips and reviewed what had written tort year one and in the summer in preparation for year two. I feel in just eighteen months my teaching knowledge has changed as I was never too sure what to write for these castles at the beginning, but with direction from my tutor and mentor I feel my year two LIP is more professional by using the LULUS professional standards. Annex M) Due to completing this course and the tact I have been on my own In the 1 Offs centre during the summer months, I nave completed majority to the teaching to complete the mandated hours for the course and self-development.This has played a major part in my main two developmental areas for year one's goals. They were confidence and experience; I feel I have improved a great deal in these areas and plan to carry on doing so in the future. Looking at my SOOT analysis (annex E) I feel I have gathered a good number of things and included them on my LIP update (annex D) I do feel I have improved on reflection and perhaps I try to over complicate this as I often do with other areas. The feedback I have received from my tutor on last year's reflections was positive so I think maybe trying too hard to create something and demanding too much from myself over this area. So overall I plan to continue keep attacking this area.One other area I would like to touch on my SOOT analysis in the threat column was I included my pregnancy. Now while this is something I am very happy about, it is something that will have a major impact on my career with possible skill fade while taking maternity. I plan on taking a year off work for maternity followed by leaving the Royal Air Force in the next couple of years and finally getting a new Job in the lifelong learning sector. In the skills audits (annex's F-L) I have completed, nothing really gave surprising results but they have identified areas which I thought I had achieved the right level but could work on to furth er e. G. CIT skills and time management.Again all of these things I have recognized and included on my updated LIP. Throughout my reflections as previously discussed I have felt under confident and lacked experience which I feel I have developed positively. In feedback I have received from my tutor and mentor in relation to the course has been positive on the whole. There were highlighted areas for development such as varying the techniques I use such as pair and group work. This I will try and do but it has been difficult to address as we have the students for a short about of time and a lot of work to complete. It is something I am trying to work on and will endeavourer to achieve these aspirations in the coming months.The second area of development was given to me by my mentor, it was that I talk very quickly while heading the class ND do not allocate enough time for students to answer my questions. This I think is down to nerves when being observed. Hopefully with the further ex perience I have achieved I have slowed myself down for the next observation I have. In planning appropriate opportunities to address these identified learning needs as been quite difficult as I only have approximately 9 weeks left at work before maternity but I will maintain to keep focused and improve in that time. Dependent on being a new mother I will endeavourer to complete online courses to ensure I do not develop skill fade. Question 2There are many different theories, principles and models designed around CUP. It has become an important aspect in and around teaching in recent years with the highlighted benefits of increased credibility, building professional confidence, providing career development and coping with change. These are the benefits for the individual without the numerous benefits for the organization. David Chon was known as being the first to introduce reflective practice, in his book The Reflective Practitioner in 1983. However the concepts underlying reflectiv e practice are much David Chon was born in 1 O and graduated Yale in 1951 tater studying hilltop's.His views on reflective theory stemmed from his study of John Dew's theory of inquiry. This became his pragmatist framework in his later work. The backbone of Scion's notion was reflection in action and reflection on action. While reflection in action was described as â€Å"thinking on your feet† This does seem to be the one theory most have taken and further develop into their own. Davis Kola's experimental learning cycle is also known as a reflective tool where you take your experimental learning gained through action and practice. The experience must somehow be transformed for the learning to occur. The model uses the experience first grasped and then transforms it into strategies that give guidance to future actions.Graham Gibbs published his reflective cycle in 1988 which is based on Kola's model of experimental learning, where many reflective models take the basic informat ion for example Boron's model on reflection 1970 chic was later developed by Roller 2001) asks three simple questions What? So what? Now what? Gibbs model goes into further detail and asks many different questions and breaks it down further. So in comparison of the two Barton asks three questions where Gibbs asks six. Overall in comparing the theories they all hold the basic fundamentals of learning after an experience. Most theories are derived from models associated with describing learning. Therefore it has been accepted that in context of theory reflective practice is an experimental process to identify developments and CUP is the act of improvement or modification.In my own opinion most recent theories have lust taken older ones and further developed them to work for themselves. Throughout my learning Journey regarding reflective practice it has been quite a struggle to find a model that I am comfortable with. Reflection to me is when I am having some quiet time such as walking the dogs and running things through my mind, looking at what happened and breaking it all down. Finally deciding what I should do differently next time. I do however find it difficult to put it into format, never too sure on what is required and what people are looking for. However with this uncertainty I have found the Gibbs model is far easier to use as it gives me plenty of pointers to discuss.Using theories, principles and models can be used as an autonomous learner once you have found one that you are comfortable with. When I first started completing my first year reflections I spoke to my mentor about the difficulties I was having, and the response is the only negative thing I have found with them. They responded with they used Boron's model as it was simple to use and I should give it a go. This was one I could not get to grips with, so after speaking to my tutor I did some further research and came up with the same model as she sent me, Gibbs. As we have discussed in other assignments, classes and work everyone learns/works differently and to work as an autonomous learner in reflection they have to find a model that suits.Throughout the year, the accreditation center staff are kept aware of upcoming CUP events in our specialist field. We regularly attend City and Guilds events, ‘FL and our Apprenticeship Management Team (MAT) CUP events. These are normally notified via email but we also check the websites to ensure we have not missed anything. We also conduct our own CUP events for the center star TTT and our workplace assessors as this is a requirement trot boot our awarding body and MAT. These are invaluable assets to all people in the teaching environment they give networking opportunities to others who teach in the same environment. Also attending generic events can have its benefits too as people can share views, opinions and methods.For the professional bodies putting on these events they can be one of the best ways to get their messages a cross. Keeping people up to date with current procedures as well as any up and coming changes that are being applied. The one CUP event I attended was an ‘FL event earlier in the year at Coventry University. I felt it was a fantastic event with lots of very interesting seminars throughout the day. It gave us an insight on the plans of ‘FL with the upcoming Linefeed report at first followed by different classes covering emerging technologies, dyslexia and SETS status. Speaking to other attendees and staff gave me a good insight t other roles and insights as I had not been in the world of teaching for even a year at that point.After a seminar about dyslexia I felt extremely energize over the subject of Spud's and felt I could listen to the lecturer all day. Another member who was from Birmingham University who had done a huge amount of research and created a presentation at her place of work gave us all further information. The whole event was a huge success in my eyes and I felt I took away so much from it. I was also keen to keep hold of my ‘FL membership no matter what'd planned to gain SETS status as soon as I could. But after eight months now and very little heard from ‘FL, the lack of CUP events since has dampened my enthusiasm for ‘FL and I now question my need for them. Bring back ‘FL CUP events!At this current stage of the year there is little being offered in regards to CUP which as a little bit of a problem throughout the year. ‘FL has had very little going on, certainly in my area of expertise and location. I think this has been due to the Linefeed report and their concentration has been geared towards the outcomes from that report. City and Guilds have only directed their CUP events at other sectors (IEEE Hair and Beauty) and Quality Assurance, both of which have not been beneficial to me. I recognize the need for CUP but with the upcoming birth of my daughter, it will be taking a back seat as work will be o ver the next 15 months. I hope to carry on CUP in that time but it will be individually activities.What are you trying to achieve by your teaching? This is a very demanding but when you can answer it, also a very illuminating question. Of course you want you students to learn successfully, but you may also have an overarching personal goal (Petty, 2009) My role in the lifelong learning sector is more of an instructional/facilitator role than a teaching one. In regards to the FEE sector this covers general FEE colleges, tertiary colleges, sixth form and independent and specialist colleges. Many colleges work in partnership with other members of the sector and are mainly associated with the delivery of education of 14-19 year olds, leaving school.There has been a great deal of change over recent years to adult learning due to recessions and redundancies over the last 3 years along with the changes to funding. The other I would like to touch on is offender learning. This Government ini tiative is designed to reduce refunding behavior. Often offenders are under achievers at school, with a lack of motivation. They put the age range of 10-18 but in adult institutions have got TTY to learn new skills and trades, tort example Gordon Ramsey doing workshops in Britton Prison for offenders to learn the trade of being a chef, on Channel 4. In this sector the teachers do struggle in the conditions, not only do they have to deal with dissatisfied learners with emotional and behavioral issues.They have to ensure they meet POSTED requirements as well as Home Office policy, all with minimal resources. This isn't Just a ‘let's go and cook along with Gordon in prison' thing. The idea came from the fact that there are approximately 80,000 inmates across the country now, which is a hell of a lot. It was about getting them doing something with their time, giving something back, and also getting Job-ready. The biggest problem is the re-offending percentages, people Just go roun d and round in the system. (Channel 4, 2012) So in comparison to my role to the others mentioned I find myself feeling a bit of a fraud in comparison at times with other sectors. FEE colleges have numerous challenges to contend with as does offender learning.