History of Western Civilization Essay

Civilizations of societies started long before the times Jesus in the Middle East especially in the ancient Greek and Roman Empires. In the 18th century most European countries followed the suit and underwent changes from pre- industrialized to industrialized nations characterized by social and economic changes. There were a lot of technological innovations which led to increased energy production and thus large scale production of most products with ease. Industrialization has over the years been linked to some factors which enhance fast changes for instance cheap skilled labor, political stability, presence of raw materials and available markets of the products produced. Industrial revolution was experienced in England to the northwest and the midlands. People used to make their own furniture, clothes and equipments until industrialization took over whereby they could buy goods already made from the industries. History of Western Civilization England underwent several civilizations in which there was increased agricultural output (Agrarian revolution) which led to increased population density and eventually led to the industrial revolution. New techniques were initiated and allowed farmers to produce more yield than there before. As time passed machines and other equipments were produced by skilled personnel who sold them to those who were specialized in agriculture. The business to make machines and other related equipments boomed and led formation of a class of people who worked in the industries as they expanded. These machines were very advantageous because they substituted the human job since it did not involve a lot of work and therefore people did not get tired fast. Those who worked in the industries earned more than those who were specialized on agriculture. Most of these industries were located in the urban centers and they would obtain their raw materials from the farmers in the country side. Industrialization in England led to numerous increases in population leading to less arable land and therefore some of the people migrated to other countries where they introduced the new techniques for agriculture and industry (Landes, 1969). However, most of the skilled personnel were not allowed to immigrate to the England’s new colonies so that England would remain superior in technological advances. Industrialization in England was characterized by many factors which made this country to be first to be industrialized. Agrarian, commercial and cottage revolutions greatly enhanced the fast social and economic changes in this country leading to a lot of extra money which facilitated the improvement of infrastructure. The industries spread all over England and Europe and since the number of workers were reducing as a result of immigration to England colonies, they resulted in taking people from the countries that were still not in the process of social and economic change especially in Africa and made them to work in their farms and industries as slaves. As more and more industries were built the private sector was also changing as money for expansion and setting up of more industries was needed. This led to the emergence of banks and other financial institutions which financed all these industrialization activities. These institutions gave loans to people to expand and introduce more industries and then repay later with the profits obtained. At around this time of industrialization most people used wood as a source of energy for the industries. The number of industries increased enormously and therefore the number of trees reduced drastically and made the people to think of alternative source of energy. They came up with coal which was used in the industries as an alternative and could be even used in homes. The coal mines were usually flooded with water at times and a method of pumping water out of the mines was innovated but the coal would not generate power. This method was not embraced and therefore coal was not a lasting solution and more innovations needed to be initiated for instance in the textile industry. Textile industry in England was the first industry to be mechanized and utilized wool which obtained from large scale sheep farms in the country. Weaving was usually done in cottages by skilled people after which the yarn was taken to the industries where it would be made in to clothes. England by then conquered many colonies where they would grow cotton in addition to importing cotton and used to substitute the wool. At around 1773 John Kay introduced a machine he named the flying shuttle which made it possible for a person to easily weave. In the textile industry machines that utilized water for energy were introduced. This machinery could reduce the cost of production and at the same time increase the rate of production. These measures were taken when the cost of production started to sky rocket reducing the profits of the merchants and the merchants did not want to raise the goods prices in a quest to maintain their customers. Transportation in England was favored by the fact that it had many rivers and natural harbors which greatly reduced transportation costs because rivers covered most areas and therefore goods could be transported to most parts of the country. Canals were also built on rivers which were not naturally navigable and also facilitated easy transportation of raw materials from farms in England and from distant colonies and transportation of finished products from the industries to the consumers. Tram ways which were pulled by horses were also used especially when transporting goods inland until when trains were made and used instead because they relatively faster. Due to the limitation of the road transport some people decided to borrow loans from the financial institutions ton repair them and then use toll fees to repay the loans. This would also ensure easy transportation of goods in areas where the rivers and coastline was far away. Improvement of roads led to introduction of stage coaches which would transport even people from one area to another. Transport was boosted with the introduction and improvement of railway. The first type of railway was wooden and did not last long until when iron plates were put on top of the wood and the railway became more durable. Another factor that facilitated faster industrialization of England is its isolation from the European mainland. This helped this country to evade the wars that were occurring at this time for instance the Napoleon war. They concentrated more on development and industrialization of their country till the wars were over. After the war the British took advantage of selling their products to the other European countries and the Americas at relatively cheap prices thereby making a lot of profits. The private sector with the government support also helped a lot by offering loans to people for expansion and initiation of new industries and for the repair of roads which enhanced faster movement of goods between places. Conclusion Civilization of England in many ways has influenced the modern world with only improvement of the machineries that were made during the period of industrialization. The support from the government and relative stability of the country made it to develop even faster without any worries of attacks during the war of Napoleon in the mainland. Advancements in technology led to improvement and construction of new transport systems and infrastructure which also facilitated movement of raw materials and finished products to the several destinations within England and other countries. Civilization in England led to migration of people to the urban centers where they would be able to obtain jobs in the urban centers. This situation is the same even in the modern days where especially young people move to the towns and cities in search of better jobs in the industries. References Jackson, S. Western Civilization: A Brief History. 4th Edition. Cengage Learning, 2007. Jacob, F. The Development of Western Civilization : A study in Ethical, Economic and Political Kenneth, P. Steven, T. The world that trade created: society, culture, and the world economy, 1400- the present. 2nd Edition. M. E Sharpe, 1999. Richard, B. Society and Economy in Modern Britain 1700-1850. Routledge, 1991. Evolution. The University of Chicago Press, 1906. Roy, P. David, L. The Cambridge History of Science: Eighteenth-century science. 2nd Edition. Cambridge University Press, 2003.

“Assess the main reasons for the Unification of Germany in 1871”

In 1862, Bismarck said that ‘the great questions of the day will be settled by blood and iron. ’ Although there is undoubtedly some degree of accuracy in this statement, the most important reason for the unification of Germany, which ended ‘the great questions of the day,’ was ‘coal and iron. ’ This is a quote from British economist John Maynard Keynes, who argued that the industrial and economic preparation before the wars, which united Germany, were more important. This is because the economic strength created by the rapid industrialisation enabled the creation of a powerful Prussia.It was under this powerful Prussia, with some skilful diplomacy and opportunism, that Germany was successfully united in the wars of German Unification. Without such economic development and prosperity, it is questionable whether Germany would have been united by 1871. On the other hand we must also consider the other factors and thus must address five key areas. T he first of these is the growing strength of Prussia in relation to Austria and closely linked to this is the economic developments within Prussia.On a much larger scale we must also take into account the strength of nationalism and the international situation of the 1860s. Lastly, we must consider whether the policies and strategies of Otto Von Bismarck, the Minister-President of Prussia from 1862 had a major impact on the Unification of Germany in 1871, nevertheless we are justified by saying that the main reason for the unification of Germany in 1871 was due to the economic prowess of Prussia in relation to other foreign nations such as Austria.â€Å"When the army has been brought into such a state as to command respect, then I shall take the first opportunity to declare war on Austria, burst asunder the German Confederation, bring the middle and smaller states into subjugation and give Germany a national union under Prussian leadership. † These views clearly voiced out th e long-term ambitions that Bismarck had for Prussia. Bismarck believed that he was able to shape the country and steer it to a position where it would lead the other German states. Bismarck’s exploits from the above statement shows that he greatly influenced the unification of Germany.He realised that a †man could not create the current of events† but â€Å"only float and steer it†, it was here that his true potential as a charismatic politician could be seen. As the brilliant opportunist he was, he completely outplayed the Austrians. Bismarck managed to cultivate a close relationship with Russia against Austria in 1863. This was made possible due to the Austrian’s error of not coming to the aid of the Russians during the Crimean War in 1852 thus an Austro- Russian alliance 10 years later would be unlikely to form as there was still great resentment between the two nations.Also it meant that Prussia would have a greater force backing them up. The fol lowing year he weakens Austria further after allying with them, as they were forced to maintain an army in the Northern region of Schleswig-Holstein. It is clear to see from this that Bismarck had a tendency to pick a quarrel with the opposition and create tension beneath the surface. If Austria did not mobilise an army there Prussia would have been free to annex this state and phenomenally increase the number of resources and territory gained.On the other hand as this ultimately enabled victory at Koniggratz to be much more achievable as fewer Austrian troops were present to defend their homeland. In 1865 he again impeded Austria from making a potential ally with France by giving them rewards in terms of land and resources. This would also ensure that France would remain neutral if Prussia declared war on Austria. His next final stroke of strategic genius can be seen with the Italian alliance in 1866. By the alliance with Italy, Bismarck contrived to divert part of the Austrian for ces to the south.This advantage with addition with that of Prussia’s modernised army discipline resulted in a Prussian victory on August 23rd 1866. Its victory enabled the North German Confederation to be formed. We can see that Bismarck held great political prowess and having considered the action he took, we are justified in saying that Bismarck’s role in the unification of Germany was a very important factor but not the main reason for Germany’s unification in 1871. Another factor which must be taken into account is the inevitability of Prussia’s rise to power and her military’s exponential growth in power.In 1815 unbeknown to Prussia, the major powers after defeating Napoleon split the French Empire and gave the Kingdom of Westphalia to Prussia thinking that it was useless bit of land however in reality they were handing over the richest material deposits in Europe. The abundant reserves as soon as they were discovered were being extracted an a larming rate transforming Prussia, currently a country short of territory and power into the most dominant and richest nation in the whole of Europe. Helmuth von Moltke based on this new found wealth gave him the means by which to modernise the army.Bismarck greatly advocated the support as he believed that â€Å"It is not by speeches and majority that the great questions of our time are decided, it is by blood and iron†. The newly reformed Prussian army revolutionised by Moltke â€Å"attained a level of military efficiency that the other European armies could only dream of† This strength was pivotal during the three was of unification as it allowed Bismarck to dictate the battle as well as the following treaties and agreements. Its highlight came however, at the Battle of Koniggratz where the Prussian army defeated Austrian forces inflicting many casualties.Indeed it was Bismarck who led the army reforms and it also shows that he delayed going to war with Austria to m ake sure victory was ascertained however without the overpowering economy which Prussia had she would never have been able to modernise the army to such an extent as well manage the costs of three wars so we are justified saying that Prussian economy was more influential to the unification of Germany than the military however we must also remember that without a strong military force Prussia would not have been able to win the wars that ensured the unification of Germany to take place.It was not only the rich mineral reserves that were economically benefitting Prussia. The creation of the zollverein in 1834 was the first step towards a united German customs union, fore fronted by Prussia. Although the smaller states greatly benefitted by being part of the Zollverein due to the abolishment of internal tariffs and they also became dependant on Prussia in maintaining the system.As well as this it may have not impacted unification as its economic benefits focused countries on the intern al benefits rather than leading them to merge into a single German state but certainly by giving Germany an identity, and a commonality with regards to businesses and the economy. It was seen as â€Å"binding together the limbs of Germany†. This concept was re-enforced with the development of railways throughout the Zollverein. This made transport and trade much easier but also brought the states together as people could easily travel across it visiting regions previously inaccessible.Compared to the impact of Bismarck however the economic advantages of Prussia play a major role in the unification of Germany in 1871. The economic advantages were enhanced as â€Å"Austria had not only had many chronic financial problems, it also lagged well behind Prussia in economic developments. It clear to see that without the economic power Prussia had in the 1850s and later, many businesses and the military would not have been able to become modernized and much stronger. It was only beca use of this newly made fighting force that Prussia was capable of inflicting the crushing defeat at Koniggratz.However it also helped Prussia to politically influence and dominate the other smaller German states as well as become a major authoritative nation within Europe. Thus it can be justified that â€Å"coal and iron† was the most important reason for the unification of Germany in 1871. Synonymous with the economic developments were the international circumstances of the 1860s which played a role in the unification of Germany. Austria’s decision to remain neutral during the Crimean War from 1853 to 1856 meant that that they lost the support of Russia in the future .Because of this no one could no longer continue to dictate over Prussia. As well as this, the Austro-Franco war of 1859 to 1860 led to the Italian Unification. This had two major impacts on the unification of Germany. The first was that it cultivated and spurred nationalism in surrounding European count ries. It even led to a pressure group being set up in Prussia the same year. More relevant to Prussia’s dominance however was the Austrian loss of Lombardy. Due to this loss of a very rich state, the Austrian government was forced to make constitutional concessions to the liberals within the country.Also the seeds of war between Prussia and Austria had been sown after Olmutz where Prussia were forced to say that the Erfurt Union will not be made and that the Diet under Austrian presidency will remain also Prussia had to firstly demobilise completely while Austria will secondly partially demobilise. This was a great humiliation for the Prussians and the resentment created by this caused the tensions between the two nations to rise. The final international factor is that of Napoleon III. In a bid to emulate his uncle he engaged himself with international politics as much as he could.Napoleon met Bismarck at Barritz where he confirmed French neutrality, in return for land reward s. This had a great impact as it meant that Prussia could advance without the threat of invasion from France. Although the Napoleon declared war on Prussia five years later in 1870 however by that time the Prussians had a strong enough army to repel these forces without much bloodshed. Bismarck calculated Napoleon’s greed and ego accurately and used this to his advantage. If this was not done there is a great likelihood that France would have declared war on Prussia and as soon as they did that Austria would have joined as well.Even though Prussia had the greatest military prowess of the three nations the sheer scale of the attack would have overwhelmed Prussia and it would lead to Austria being in such a position that unification of Germany would not have been possible. However we must also that their political position within Europe was promoted by their boosting economy and the grouping of the lesser states under Prussian authority so it is fair to say that the internation al circumstances of the 1860s came about from political and military dominance within Europe which were influenced by the booming economic situation in Prussia at the time.The final factor contributing to the unification of Germany is the strength of nationalism. This was enhanced by the 1848 revolutions and saw liberals rise up in Prussia. Their quest for a united Germany was stopped midway due to food shortages the following economic depression and the resulting lack of support. With the loss of their power base the revolutions failed horribly. We are therefore justified in saying that although support for nationalism did play a part in the unification of Germany it was not the deciding factor .In order for nationalism as an ideology to be spread as across the states a top down revolution was needed. Nationalistic individuals wanted the uniting of all German states, all German volk coming together and the Zollverein, the customs trade union was the shadow of the Germany formed in 1871and thus we are justified by saying that the economic policies of Prussia was pivotal in bring the people together under a single united state and were more important than the strength of nationalism.Overall we are justified in saying that the main reason for the unification of Germany in 1871 was the booming Prussian economy. There is a strong case arguing that the skilful diplomacy and power politics of Otto Von Bismarck led directly towards German unification. However this said Bismarck was only able to the Army Reform Bill in 1861 because the economy had provided sufficient revenue for him to do so. If Bismarck had not pumped money into reforming the army then it would not have been able to achieve such a great force which helped Prussia win the three wars of unification.Also the Zollverein plays a major role in the unification of Germany as helped all the states boost their economy under a Prussian leadership also the outline of the Zollverein is exactly the same outline Ge rmany was when all the states finally united in 1871, it was at this point that the ideology of nationalism prevailed as it managed bring all German speaking people together. With these reasons I believe that the Prussian economy was the most important factor for the unification of Germany. Assess the Main Reasons for the Unification of Germany in 1871 In 1862, Bismarck said that ‘the great questions of the day will be settled by blood and iron. ’ Although there is undoubtedly some degree of accuracy in this statement, the most important reason for the unification of Germany, which ended ‘the great questions of the day,’ was ‘coal and iron. ’ This is a quote from British economist John Maynard Keynes, who argued that the industrial and economic preparation before the wars, which united Germany, were more important. This is because the economic strength created by the rapid industrialisation enabled the creation of a powerful Prussia.It was under this powerful Prussia, with some skilful diplomacy and opportunism, that Germany was successfully united in the wars of German Unification. Without such economic development and prosperity, it is questionable whether Germany would have been united by 1871. On the other hand we must also consider the other factors and thus must address five key areas. T he first of these is the growing strength of Prussia in relation to Austria and closely linked to this is the economic developments within Prussia.On a much larger scale we must also take into account the strength of nationalism and the international situation of the 1860s. Lastly, we must consider whether the policies and strategies of Otto Von Bismarck, the Minister-President of Prussia from 1862 had a major impact on the Unification of Germany in 1871, nevertheless we are justified by saying that the main reason for the unification of Germany in 1871 was due to the economic prowess of Prussia in relation to other foreign nations such as Austria.â€Å"When the army has been brought into such a state as to command respect, then I shall take the first opportunity to declare war on Austria, burst asunder the German Confederation, bring the middle and smaller states into subjugation and give Germany a national union under Prussian leadership. † These views clearly voiced out th e long-term ambitions that Bismarck had for Prussia. Bismarck believed that he was able to shape the country and steer it to a position where it would lead the other German states. Bismarck’s exploits from the above statement shows that he greatly influenced the unification of Germany.He realised that a †man could not create the current of events† but â€Å"only float and steer it†, it was here that his true potential as a charismatic politician could be seen. As the brilliant opportunist he was, he completely outplayed the Austrians. Bismarck managed to cultivate a close relationship with Russia against Austria in 1863. This was made possible due to the Austrian’s error of not coming to the aid of the Russians during the Crimean War in 1852 thus an Austro- Russian alliance 10 years later would be unlikely to form as there was still great resentment between the two nations.Also it meant that Prussia would have a greater force backing them up. The fol lowing year he weakens Austria further after allying with them, as they were forced to maintain an army in the Northern region of Schleswig-Holstein. It is clear to see from this that Bismarck had a tendency to pick a quarrel with the opposition and create tension beneath the surface. If Austria did not mobilise an army there Prussia would have been free to annex this state and phenomenally increase the number of resources and territory gained.On the other hand as this ultimately enabled victory at Koniggratz to be much more achievable as fewer Austrian troops were present to defend their homeland. In 1865 he again impeded Austria from making a potential ally with France by giving them rewards in terms of land and resources. This would also ensure that France would remain neutral if Prussia declared war on Austria. His next final stroke of strategic genius can be seen with the Italian alliance in 1866. By the alliance with Italy, Bismarck contrived to divert part of the Austrian for ces to the south.This advantage with addition with that of Prussia’s modernised army discipline resulted in a Prussian victory on August 23rd 1866. Its victory enabled the North German Confederation to be formed. We can see that Bismarck held great political prowess and having considered the action he took, we are justified in saying that Bismarck’s role in the unification of Germany was a very important factor but not the main reason for Germany’s unification in 1871. Another factor which must be taken into account is the inevitability of Prussia’s rise to power and her military’s exponential growth in power.In 1815 unbeknown to Prussia, the major powers after defeating Napoleon split the French Empire and gave the Kingdom of Westphalia to Prussia thinking that it was useless bit of land however in reality they were handing over the richest material deposits in Europe. The abundant reserves as soon as they were discovered were being extracted an a larming rate transforming Prussia, currently a country short of territory and power into the most dominant and richest nation in the whole of Europe. Helmuth von Moltke based on this new found wealth gave him the means by which to modernise the army.Bismarck greatly advocated the support as he believed that â€Å"It is not by speeches and majority that the great questions of our time are decided, it is by blood and iron†. The newly reformed Prussian army revolutionised by Moltke â€Å"attained a level of military efficiency that the other European armies could only dream of† This strength was pivotal during the three was of unification as it allowed Bismarck to dictate the battle as well as the following treaties and agreements. Its highlight came however, at the Battle of Koniggratz where the Prussian army defeated Austrian forces inflicting many casualties.Indeed it was Bismarck who led the army reforms and it also shows that he delayed going to war with Austria to m ake sure victory was ascertained however without the overpowering economy which Prussia had she would never have been able to modernise the army to such an extent as well manage the costs of three wars so we are justified saying that Prussian economy was more influential to the unification of Germany than the military however we must also remember that without a strong military force Prussia would not have been able to win the wars that ensured the unification of Germany to take place.It was not only the rich mineral reserves that were economically benefitting Prussia. The creation of the zollverein in 1834 was the first step towards a united German customs union, fore fronted by Prussia. Although the smaller states greatly benefitted by being part of the Zollverein due to the abolishment of internal tariffs and they also became dependant on Prussia in maintaining the system.As well as this it may have not impacted unification as its economic benefits focused countries on the intern al benefits rather than leading them to merge into a single German state but certainly by giving Germany an identity, and a commonality with regards to businesses and the economy. It was seen as â€Å"binding together the limbs of Germany†. This concept was re-enforced with the development of railways throughout the Zollverein. This made transport and trade much easier but also brought the states together as people could easily travel across it visiting regions previously inaccessible.Compared to the impact of Bismarck however the economic advantages of Prussia play a major role in the unification of Germany in 1871. The economic advantages were enhanced as â€Å"Austria had not only had many chronic financial problems, it also lagged well behind Prussia in economic developments. It clear to see that without the economic power Prussia had in the 1850s and later, many businesses and the military would not have been able to become modernized and much stronger. It was only beca use of this newly made fighting force that Prussia was capable of inflicting the crushing defeat at Koniggratz.However it also helped Prussia to politically influence and dominate the other smaller German states as well as become a major authoritative nation within Europe. Thus it can be justified that â€Å"coal and iron† was the most important reason for the unification of Germany in 1871. Synonymous with the economic developments were the international circumstances of the 1860s which played a role in the unification of Germany. Austria’s decision to remain neutral during the Crimean War from 1853 to 1856 meant that that they lost the support of Russia in the future .Because of this no one could no longer continue to dictate over Prussia. As well as this, the Austro-Franco war of 1859 to 1860 led to the Italian Unification. This had two major impacts on the unification of Germany. The first was that it cultivated and spurred nationalism in surrounding European count ries. It even led to a pressure group being set up in Prussia the same year. More relevant to Prussia’s dominance however was the Austrian loss of Lombardy. Due to this loss of a very rich state, the Austrian government was forced to make constitutional concessions to the liberals within the country.Also the seeds of war between Prussia and Austria had been sown after Olmutz where Prussia were forced to say that the Erfurt Union will not be made and that the Diet under Austrian presidency will remain also Prussia had to firstly demobilise completely while Austria will secondly partially demobilise. This was a great humiliation for the Prussians and the resentment created by this caused the tensions between the two nations to rise. The final international factor is that of Napoleon III. In a bid to emulate his uncle he engaged himself with international politics as much as he could.Napoleon met Bismarck at Barritz where he confirmed French neutrality, in return for land reward s. This had a great impact as it meant that Prussia could advance without the threat of invasion from France. Although the Napoleon declared war on Prussia five years later in 1870 however by that time the Prussians had a strong enough army to repel these forces without much bloodshed. Bismarck calculated Napoleon’s greed and ego accurately and used this to his advantage. If this was not done there is a great likelihood that France would have declared war on Prussia and as soon as they did that Austria would have joined as well.Even though Prussia had the greatest military prowess of the three nations the sheer scale of the attack would have overwhelmed Prussia and it would lead to Austria being in such a position that unification of Germany would not have been possible. However we must also that their political position within Europe was promoted by their boosting economy and the grouping of the lesser states under Prussian authority so it is fair to say that the internation al circumstances of the 1860s came about from political and military dominance within Europe which were influenced by the booming economic situation in Prussia at the time.The final factor contributing to the unification of Germany is the strength of nationalism. This was enhanced by the 1848 revolutions and saw liberals rise up in Prussia. Their quest for a united Germany was stopped midway due to food shortages the following economic depression and the resulting lack of support. With the loss of their power base the revolutions failed horribly. We are therefore justified in saying that although support for nationalism did play a part in the unification of Germany it was not the deciding factor .In order for nationalism as an ideology to be spread as across the states a top down revolution was needed. Nationalistic individuals wanted the uniting of all German states, all German volk coming together and the Zollverein, the customs trade union was the shadow of the Germany formed in 1871and thus we are justified by saying that the economic policies of Prussia was pivotal in bring the people together under a single united state and were more important than the strength of nationalism.Overall we are justified in saying that the main reason for the unification of Germany in 1871 was the booming Prussian economy. There is a strong case arguing that the skilful diplomacy and power politics of Otto Von Bismarck led directly towards German unification. However this said Bismarck was only able to the Army Reform Bill in 1861 because the economy had provided sufficient revenue for him to do so. If Bismarck had not pumped money into reforming the army then it would not have been able to achieve such a great force which helped Prussia win the three wars of unification.Also the Zollverein plays a major role in the unification of Germany as helped all the states boost their economy under a Prussian leadership also the outline of the Zollverein is exactly the same outline Ge rmany was when all the states finally united in 1871, it was at this point that the ideology of nationalism prevailed as it managed bring all German speaking people together. With these reasons I believe that the Prussian economy was the most important factor for the unification of Germany.

Improving science literacy with hypermedia Essay

Methods Learning Design Architecture The four cornerstones of this Science learning and teaching design are goal-based and constructivist learning, simulation, computer-based creative learning environment, computer-based creative assessment, as well as the traditional lectures and tutorials. In the present research, the Discovery Channel â€Å"Pompeii: The Last Day† site was used as the hypermedia environment for investigating the science topic of Plate Tectonic Theory, first, and the impact of natural processes on human history (Pompeii), second. A few words need to be said about the structure of this hypermedia resource and its value for the current research. It is organized as the complex system of thematic hypermedia audio/video-packages accompanied by informational texts in written form. The structure of the site appears to be complex, so far as on the macrolevel it consists of the hypermedia sections: â€Å"What Happened Here? ,† the â€Å"Virtual Volcano† simulation, Pompeii Quiz, and Eruption Videos. Each macrounit, meanwhile, is designed as another macroentity. For example, the section â€Å"What Happened Here? † provides learners with different types of information on the theme of volcanic activity having erased ancient cities from the earth surface. The â€Å"Step Back in Time† slide-show is organized as a series (7 parts or pages) of the typed texts (â€Å"The Long, Deathly Silence,† â€Å"Herculaneum,† â€Å"Two Days in August,† â€Å"The Story of Lupercus,† â€Å"Pompeii: Part I,† â€Å"Pompeii: Part II,† and â€Å"The Story of Caius Julius Polybius† by Rossella Lorenzi). The â€Å"Ongoing Excavations,† or â€Å"Ongoing Archaeology† slide-show comprising 6 parts or pages (â€Å"Uncovering Pompeii,† â€Å"Bringing the Oldest Pompeii to Light,† â€Å"A Unique Glimpse,† â€Å"Herculaneum’s Lost Papyri,† â€Å"Lost Plays of Sophocles,† and â€Å"Multi-Spectral Imaging†) is analogous in structure to the â€Å"Step Back in Time† macrounit. Besides, within the same â€Å"What Happened Here? † macrosection, there is a â€Å"Pompeii’s Eyewitness Account† web documentary. The students listen to the text and watch the video accounting for Pliny the Younger’s story about the ancient Pompeii devastation. Whereas the aforedescribed macrounit explores the issues of human history in relating to natural catastrophes, the other macrosections concentrate on Plate Tectonics theory and scientific description of volcanoes as natural pressure valves. Under the umbrella of Volcanology, there are the hypermedia macrounits â€Å"Virtual Volcano† and of â€Å"Eruption Video. † The section â€Å"Virtual Volcano† consists in its turn of the Overview and the â€Å"Virtual volcano† simulation sections. The theme of the section is â€Å"Tectonic Plates and Volcanoes. † The Overview dwells on the Earth’s tectonic structure, volcano types (three subsections) and structure. The information is presented through both visual and textual form (typed text). In the macrounits of â€Å"Global Perspective† and â€Å"Virtual volcano† a specific type of hypermedia – symbolic simulation or microworld – introduces students to the details of tectonic structure and volcanic activity. Simulation is â€Å"a computer-based simulation of a work or decision-making environment† as a system (Sauer, Wastell, & Hockey, 2000, p. 46, qtd. in Gredler, 2004, p. 577). Whereas a â€Å"Global Perspective† is a genuine symbolic simulation of Earth with delineated plate boundaries and active volcanoes, the â€Å"Virtual volcano† section is an experiential simulation. This is an alliance of hypermedia and video images â€Å"to create a virtual experience for students who are fulfilling roles as researchers† (ibid. ). The macrounit seems to be designed to improve students’ comprehension of the theme by projecting the concepts from short-term to long-term memory, training topical vocabulary and operating knowledge in the goal-based settings. Six informational video packages within the section of â€Å"Eruption Video† train audition as well as visual comprehension. It also broadens students’ vocabulary with useful terms and present visual information on useful concepts (e. g. pyroclastic flow, lava flow, underwater volcano, etc. ). The informational section â€Å"Volcano news† provides learners with interesting facts on ancient and modern volcanic activity (as well as other scientific facts; there are 13 news pieces, 2 of which are corrupted). The hypermedia assessment tool is given in the form of the Pompeii Quiz. This is an interactive multiple-choice test â€Å"Would you survive after the eruption of Mount Vesuvius?. † To accomplish the test, a student must use knowledge having been gained during the research of the site. The Discovery Channel â€Å"Pompeii: The Last Day† site seems to be a useful hypermedia environment for investigating the topics of Plate Tectonic Theory and its impact on human history. First, students pick up useful concepts related to several branches of science (tectonics, Volcanology, history, archeology, etc. ). Second, they learn important vocabulary on the topics in the flow of constructivist and creative learning process. Due to the fact that the hypermedia environment is used for achieving the learning goals, the body of information is presented through various media (typed text, oral speech, graphics, videoimages, photographs, simulations) and organized flexibly. A learner is free to step from one macrounit to another being led by his/her personal background and motivation, return to the sections which are of most interest for him/her essentially and train comprehension skills in the Quiz as many times as (s)he needs. Finally, it refines students’ ICT skills while they use the World Wide Web to reach the site and proceed from page to page. Instruments To evaluate the effect of the hypermedia learning environment on students’ comprehension of Science (Plate Tectonics, Volcanology, History, Archeology), the researcher investigated each of the four â€Å"Pompeii: The Last Day† sections for the most significant scientific concepts to be utilized by students in the learning process. The search was done by qualitative linguistic analysis of the informational texts. The concepts were grouped into three main sections: geographical names, personal names and scientific terms and concepts (see Table 1 for the list). The students were assumed to learn those terms in the constructivist educational process through the hypermedia tools to incorporate them into their evaluation assignments as the evidence for their improved science reading and visual comprehension. Second, an end-of the week questionnaire was administered to the eight-graders in the Science Hypermedia class to find out feedback on their learning experience from using the hypermedia learning environment including time spent on independent research in the hypermedia environment (â€Å"Pompeii: The Last Day†) (see Tables 3, 4 and Figure 1). Third, Power Point presentations were used as creative evaluation instrument to check the learning outcomes of students’ comprehension. All the students were trained to create computer-based presentations by the given program. In an effort to guide and improve the learning of science concepts in the realms of Geology, History and Archeology with eight-graders in the middle school, a week study of the Topic â€Å"Plate Tectonic Theory and the Impact of Volcanic Activity on Human History† was designed as an action research experiment. From the point of view of settings and partly qualitative assessment of the outcomes of research on specific stages (e. g. students’ feedbacks), this study may also be called a case study, since only one science topic was investigated in regard to students’ comprehension and motivation. Two classes of eight-graders relatively equal in achievements and learning potential were invited to participate in educational experiment. However, there was no internal sampling conducted within each of the classes. All the students participated voluntarily and for no reward in grades or other. The goals of the present research were clarified to all the participants (N = 40). The total number of participants (N = 40) was invited to study the topic of Plate Tectonics and its impact on human history through different learning resources. The students of experiment group (n = 20) studied the topic in the hypermedia environment (a school computer laboratory equipped with Windows-based microcomputers and, optionally, at home), whereas the other group of students (control group, n = 20) did not use any hypermedia resources learning solely from printed textbooks and handouts as well as teacher’s oral instructions. To comment, the student of the experiment group received small portions of a teacher’s instruction while researching the hypermedia context. They were also assisted by a teacher in proceeding from one structural part of the site to the other in order to investigate the topic on each other’s individual pace. However, the general framework of scientific topic was introduced to a group of students. Thus, both group and individual types of instruction tool place in the research. One more thing to note, the studies in both the experiment and the control groups were conducted by one and the same teacher of a teaching style being familiar to the students from previous experience. After a week of studies, the students from both the groups designed Power Point presentations on the topic within the Hypermedia Evaluation Project in lieu of a formal examination. The assessment comprised: 45% on the subject comprehension (major concepts and direct conceptual links), 45% on utilizing Power Point hypermedia resources, and 10% on creativity. All the students (n = 40) were trained in using the Power Point program. Presentations were evaluated by three examiners. The point of degree between the evaluators was high (r = . 088).

TESCO Annual Report 2011 Coursework Example | Topics and Well Written Essays - 1500 words

TESCO Annual Report 2011 - Coursework Example It has particularly realized that for this relationship to materialize it has to continue to be grounded by ethical business practices. In doing so it has established a code of ethics for its staff, which basically set the standards for business behavior within it. In realization of the impossibility of covering every aspect of its activities, TESCO has instead set out principles of business ethics that have to be applied by every team member of TESCO. These sets of principles are in form of laws, policies, local customs and regulations, all of which lays down some of the crucial duties and responsibilities that have been placed on the employees, whenever they might be based. An important component of this code of ethics is the so-called â€Å"protector Line† which is basically an anonymous and confidential helpline that allow staffs to report any wrongdoing that they might encounter in course of their day to day activities from their colleagues. Code of Ethic This code of eth ics also contains modalities on how to raise queries on compliance with the code of ethics where need arises. It is this code of ethics that reinforces TESCO’s commitment in doing business in a way that make a positive contribution to each and every stakeholder in the company. TESCO has always endeavored to work within the British Code of Advertising, Sale Promotion and Direct Marketing. It’s standard contracts that include standard terms and condition guides all its business transactions with external parties like suppliers. TESCO has however faced accusation of price fixing in the past. In this regard, I am referring to the 2007 investigation by the UK Office of Fair Trading (OFT) over accusation of acting as part a cartel with a number of UK hypermarkets (Asda, Safeway, Salisbury and Morrison) in fixing butter, cheese, and milk prices, an accusation that it still rebuff even after a number of its co-accused admitted acting against consumer interests. I have heard on the news that the retail industry has been performing badly because of the ongoing global financial crisis. How serious are the elements of risk faced by Tesco Plc? Do you think the company will improve in the future? The group policy of TESCO is not to use derivatives for the trading purposes; rather some derivatives do not qualify for hedging financial risk which is brought about by global financial crisis. This is because if the hedge is designated where losses and gains on the instrument offset the overall group income. Considering TESCO group, it had a liability relating to the future purchase of minority shareholding of its subsidiary which was purchased during the year. This strategy was aimed at hedging over the risk of global financial crisis. Other than the above strategies, the company would considerable hedge against, foreign exchange risk, credit risk as well as interest rate risk. Therefore, considering the above strategies adopted by the company then it is likely to improve in the future. Do you have any insights from the financial press on this? The main aim of preparing financial statements is to inform the public about the performance of the company so that they can make appropriate investment decisions s whether to invest or not to do so based on their personal decision. The fact that the financial press published the weaknesses that firms are experiencing the global financial crisis, then this was sufficient information to be relied upon in making any decision. What sort of audit opinion

Public Management Reform in the UK Essay Example | Topics and Well Written Essays - 2500 words

Public Management Reform in the UK - Essay Example This paper gives a comparison of power generation regulation in UK and India, with a number of insights on their drivers as well as ongoing strategy initiatives within the energy sector. The paper also point out a number of key issues along with policy limitations, both in meeting growth targets as well as in controlling emissions increase.The main objective here is to offer a reasonable as well as insightful classification of the factors that shape public management in each UK and India. This paper balances other research attempts of abatement prospective and prospects by offering an evaluation of basis - the framework of state of growth, future requirements and existing policy course. The people of the â€Å"world’s poor† reduced from 3 billion during 1991 to 2.4 billion during 2010, with almost this complete drop occurring in the UK. Majority of the world has not arrived at such sharp declines in poor standard of living. The population of the world’s poor apar t from UK has stayed on more or less 2.1 billion from 1991, regardless of a drop in proportional terms. According to the World Bank estimates, by 2017, this amount would decrease merely to 2 billion. Of the 2.4 billion poor during the year 2010, more than a third resides in India, who consists of almost 40 percent of the nation’s population. More than 50 percent of India’s inhabitants do not have access to electrical energy and they utilize kerosene for light. Merely one fifth of those utilizing electricity consume more than 100 kWh each month, in comparison with the average UK domestic utilization of more than 900 kWh each month (Barnett and Biornsgaard, 2000, p. 82). Therefore, broadening access as well as â€Å"meeting other development goals† (Kiameh, 2009, p. 95) will involve a considerable raise in production ability, even by developments in consumption efficiency. This earnings inconsistency has to be taken into consideration while expanding a load contri bution contract. â€Å"As the philosopher Henry Shue and others have argued, luxury emissions and not subsistence emissions should be the appropriate target of emissions reductions† (Keljik, 2008, p. 78). While one openly justifies this distinction, the comparative burden of India is minute, and is most likely activated just further than 2020. For instance, a current scheme for a burden contribution management for environment improvement supported by nations’ growing discharges from 2000 as well as their assets needs that the UK accept more than 30 percent of the universal improvement prerequisite during 2020, whereas India chips in more or less one percent (Kehlhofer et al, 2009, p. 66). A growth responsive analysis of burden sharing in countries does not mean development should be categorical or that improvement as well as expansion intrinsically diverges. In addition, both countries should focus on to the possibility of â€Å"getting locked† (Grigsby, 2007, p . 93) into flawed technologies and models of growth that will make it tougher to decrease emissions afterwards. Even a quicker look on India exposes discriminatory development in addition to a number of prospects for improvement in co-advantages. Despite the fact that India wants to develop, this sort of development will not chip in satisfactorily to growth unless it is comprehensive and prioritizes the requirements of the neglected. India has diverse evidence with respect to this issue. At the same time, as its scarcity level has dropped since 1991, â€Å"absolute poverty and income inequality† (Blume, 2007, p. 129) have remained more or less the

Economic Development and Poverty Term Paper Example | Topics and Well Written Essays - 2250 words

Economic Development and Poverty - Term Paper Example However, this does not fulfill the requirement of a national food banking programme. Initiating from Tamil Nadu in the year 1960s, the programme now has taken a huge form and is operating in all primary and government aided schools. In the sections to follow, pros and cons of the policy are discussed with a justifying case and future recommendations. Background to the Mid Day Meal Scheme The background to the Mid Day Meal programme in India was set when Tamil Nadu’s Former Chief Minister K. Kamaraj asked a small boy the question, â€Å"Why are you herding the cows? Why don’t you go to schools?† and he replied, â€Å"If I go to school, will you give me food to eat? I can learn only if I eat.† (Akshaya Patra n.d) This innocent answer by the child set the stage for the introduction of Mid Day Meal with its first operations in Tamil Nadu. The programme was covered under the aegis of National Programme of Nutritional Support to Primary Education (NP-NSPE) and i mplemented as a Centrally Sponsored Scheme across the nation on August 15th, 1995. Elated with the positive response for the scheme in terms of school enrollments, retention and reducing hunger, the Supreme Court of India passed the following mandate in November 28, 2001, â€Å"We Direct the State Governments/ Union Territories to implement the Mid Day Meal scheme by providing every child in every Government and Government assisted Primary School with a prepared mid day meal.† (Akshaya Patra n.d) The provisions of the scheme were revised in the year 2004 covering children of class I-V and comprised of following provisions (India Government 2010): Cooking cost @ Re 1 per child per school day, Transport subsidy raised from Rs. 50 to Rs. 100 per quintal, Management costs @ 2% of the cost of grains, subsidy and assistance and Supplying mid day meal to drought affected areas during summer vacations. Again in the year 2006 revisions were made related to the calories counts and per child cost was increased to Rs. 1.80. Revisions regarding other nutritional contents are shown below in the table. Nutritional Content Norm as per NP-NSPE 2004 Norm as per NP-NSPE 2006 Calorie 300 450 Protein 8-12 12 Micronutrient Not prescribed Folic acid, Iron, Vitamin C, etc. Source: (India Government 2010) Objectives of Mid Day Meal Scheme The Mid Day Meal scheme in India serves three major purposes (India Government 2010) of: 1. Improvising upon the nutrition of children studying in class I-V in Government, state, local bodies and other government aided schools. 2. Bringing children of disadvantaged sections to schools by encouraging them to attend school regularly and allowing them focus on classroom activities through hunger elimination. 3. Providing support in the form of nutrition to undernourished children of primary level in drought affected areas during the summer vacations. Monitoring and control The supervision of the Mid Day Meal Scheme is jointly undertaken by the De partment of School Education and Literacy and Ministry of Human Resources Development. The overall control mechanism comprises (India Government 2010): Local level supervision The monitoring of cleanliness, timely procurement and distribution, wholesomeness and equity is done by members of local Panchayats and Gram Sabha representatives on a periodic basis. Transparency of information The Right to Information Act requires schools and centers to display

International Quality Management System - Practice exam Coursework

International Quality Management System - Practice exam - Coursework Example Delivering quality products and services also help in building a reputation for business, which influences the achievement of competitive advantage (Goetsch & Davis, 2013). In many cases, businesses seek to achieve accreditation from the international body that recognizes quality standards. The body gives ISO certification to businesses that meet the international quality standards, which helps in building a company’s brand and reputation. Quality is not achievable unless created, meaning that the products and services being able to achieve quality standards cannot happen by accident. The achievement of quality is a process because quality helps in the creation of value for both customers and the business. Based on this understanding, businesses have shifted from only achieving quality, but improving on this process by applying total quality management. Total quality management is a process that focuses on increasing a company’s competitive level through the constant improvement of its functions. Functions in this case include services, business processes, employees, products, and the business environment (p. 4). Total quality management also focuses on the continuously attaining customer satisfaction at the lowest costs. Quality can be achieved by improving a business’ operation characteristics, making the products be durable, reliable and the features of the product. Juran defined quality as ‘fitness for use’ and was of the belief that money was the language that is mainly used in management. Juran developed the Juran’s trilogy that had quality improvement, quality control and quality planning as the three main elements. In quality planning, Juran intimated that it is important for a business to identify its customers and their needs before embarking on the process of delivering quality (p. 10). Once these elements have been identified, a business can be able to develop products and services that can meet the needs of the customers. For this

Research Methods Essay Example | Topics and Well Written Essays - 500 words - 5

Research Methods - Essay Example Discriminant validity is the extent to which the new measure correlates poorly with measures of different, unrelated constructs. It involves conducting a correlational test between the scores of the new measure with the scores of a measure whose construct the test measure does not assess. The result should show little or no correlation. Construct validity is the extent to which a measure of a construct actually assesses what it is intended to assess. Constuct validity results when the measure possesses both convergent and discriminant validities. Test-retest reliability involves the administration of the test measure to numerous respondents comprising a large sample at two different instances. If the measure is reliable, then answers will be consistent for the two test times. The set of answers in both times could be tested by statistical correlation, and if the correlation coefficient is 0.80 or above, then the measure is deemed reliable. Internal consistency reliability is a method of testing whether all the items within a measure consistently measure the same thing. To determine internal consistency, a series correlation tests would be conducted among all the items in the measure with every other item. The average interitem correlation coefficient should be higher than 0.80 for internal consistency to be reliable. In order to improve upon reliability and validity, the correlational tests suggested in the foregoing may be conducted. The test scores should be obtained from a test sample from the intended population, but which will not form part of the actual research

Battle of Gallipoli and its effects to World War I Research Paper

Battle of Gallipoli and its effects to World War I - Research Paper Example A breakdown of  the  Gallipoli  Peninsula that was carried out, identified five land systems, based on aspects  of  geology, geomorphology, hydrogeology and vegetation were identified in studying this battle and these have prompted many questions concerning the reasons why the allies were defeated. The landings  that were made in April 1915 were created at Cape Helles and Anzac Cove, and the objective of these landings was to seizure the upper ground held by the Ottoman Empire. The land system investigation that were conducted by historical scholars have come to show that these landing areas were deprived by landscape, with steep, intensely carved slopes, thin beaches and insufficient water deliveries. A afterwards landing at Suvla Bay in August 1915 consumed additional terrain benefits, with wide landing beaches and the water supply was readily available, but the strategic advantages  of  a lightly held terrain were not exploited (Doyle and Bennett, 1999). In general , the  Gallipoli  Campaign was a failure mainly because  of  insufficient preparation and leadership by the allied forces that were involved in it. In addition, the poor communications, the efficiency  of  the Turkish armies in the siting  of  defensive positions according to terrain and the lack  of  detailed information with regard to terrain and geology available to the allied troops involved in the war ensured their abysmal failure in this battle. Despite the fact that it was a tactical failure, the landing made by the allies on Gallipoli can be considered to be one of the most significant amphibious operations in the twentieth century. Enormous in extent that lasted for over ten months, this operation was ambitious in concept and was characterized by fierce fighting from the shoreline into the peninsula's steep, broken ridgelines. The  Gallipoli  invasion provided plenty of  experience on amphibious operations and it not only influenced how this type o f warfare was conducted during the First World War, but it also worked towards the shaping of  the amphibious warfare doctrine and practices in the world war that followed (Lee, 2002). The most powerful naval forces during the First World War, namely the United States, Imperial Japan, and Great Britain, all came to use the lessons  learned from this battle  to produce the primary concepts for their future amphibious maneuvers. This operation came to exhibit the magnitude of the strategic prospective  of  a naval-ground assaulting force. The idea for this operation was conceived by the British admiralty and it became one of the cornerstones for the Dardanelles campaign. It was an effort by the allies to capture Istanbul, in order to force Turkey out  of  the Triple Alliance, so that a route could be opened to send reinforcements to czarist Russia (Millett, 2000). After this battle, the failures that resulted from it came to be considered to be a black mark on the record s  of  both the future British prime minister, Winston Churchill, and the British armed organization. This resulted in accusations of  imperial mismanagement, incompetent leadership, and political maneuvering that have come to cloud the historiography on this subject since the end  of  the First World War. Because of the huge controversy surrounding this battle, a number  of  myths have come to be developed concerning it, and there were assertions that it

Mass Spectrometry PowerPoint Presentation Example | Topics and Well Written Essays - 250 words

Mass Spectrometry - PowerPoint Presentation Example The ions are then separated according to charge to mass ratio. They thus deflect such that those with the same mass to charge ratio experience the same deflection. The results are displayed spectra. The molecules or atoms in the sample are identified by comparing the found masses with the known masses. Mass spectrometry technology finds a wide range of applications such as in identifying unknown compounds, determining isotropic composition of element in a molecule and elucidating the structure of a compound. The ion analyser: - fragment ions as well as molecular ions are accelerated by manipulation of the charged particles. The mass analysis uses negative and positive voltages to control the path of the ions. Uncharged molecules and fragments are pumped away. The paths the ions assume are determined by their charge to mass ratio. Ionisation occurs at the ionizer stage. For soft ionisation, the bombardment which is carried out, impact very little residual energy onto the sample molecule resulting into very little fragmentation. Hard ionisation processes result into high residual energy into the sample material thereby leading t large fragmentation. The diagram above show the mass spectrum of pentan-3-one. Here the commonest fragment oin(tallest peak) is at m/x = 5 in is important to note that this isn’t produced the same ion. The m/z =5 was produced by [CH3CH2CH2CH2]+ therefore, there is possibility of getting a particular fragment from pentane. The peak with the m/z =29 is produced my the ethyl

Effects on Divorce on Children Essay Example for Free

Effects on Divorce on Children Essay However some people think that its an easy process to get a divorce two separate roperties and signing papers may seem like an easy task some however there are major problems can arise from the divorce like who is going to keep the timeshare in Aspen. But one vital issue arises with the presence of children and how it will affect them in the long run studies suggest that children that go through divorce express signs of distress for example acting out in school. Divorce is Just as hard on the children as it is the adults and if they overlook this their children might be affected for even years to come showing concern for this might prevent this. More than half of all divorces involve children under the age of 18. Divorce does not only affect the husband and wife, but now more than ever their children get mixed up in the, sometimes ugly, process of divorce. A vital question every parent should consider is will divorce have effects on children and is staying together for the sake of their well-being the best resolution, if not what are the ideal approaches to minimize the childs distress? The overall reason I picked this topic is because after a divorce many young children are confused. They are confused because they are sometimes too young to nderstand what is going on so they tend to scream for help but their parents ignore them. Then they can sometimes start to act out in school and their parents know why they are doing it but cannot help them express their feelings. This topic is sociologically important because young children need help understanding what divorce is and how to cope with it. All of these reason Ill be sure to make a point of explaining them further and using reliable statistics taken from studies of children of divorce. This question should interest almost everyone that plans of getting married in the future. Divorce clearly isnt something that couples want or even expect in a marriage but unfortunately such events occur that lead to divorce and it is crucial to know how it may affect children in the long run. David Masci the author of the article Does divorce turn children into troubled adults? argues that divorce might turn children into troubled adults, and I agree because he provides viable evidence to support his theory. His argument that is supported by new research showing that almost half of all children in the United States have to deal with their parents dissolution of marriage nd these some of these children show signs of distress in the later year. Mainly likelihood of health, emotional, and behavioral problems, lower academic achievement and an increased risk of divorce when they marry. In addition, early sex, out-of-wedlock pregnancy, alcohol and drug abuse, delinquency and suicide are more prevalent among adolescents from divorced families than among those from intact families (Masci) I wholeheartedly endorse what David Masci argues. While many children grow up leading healthy and productive lives after a divorce occurs, they are at greater risk for emotional and physical problems. Some children are more emotionally affected by divorce than others. But some do not experience serious, long-term emotional problems A childs emotional security also becomes more fragile during this difficult time of divorce. Fears that both parents will abandon the child are common. Depending on the age of the child, some of the ways a child might express this emotional insecurity may be large amounts of anger, directed both toward others and themselves frequent breaking of rules, sleep problems, defying parents or teachers, frequent guilt, increasing isolation or withdrawal from friends and family, drug and/or alcohol buse, early sexual activity, thoughts of suicide or violence. Many children of divorce believe that they caused the divorce or that they did something wrong that made one or both parents not want to be with them. These feelings can cause a child to feel sad, depressed, and angry. These negative emotions can contribute to other problems, such as poor health, difficulty in school, and problems with friends, to name a few. Parents can help their children avoid some of the negative consequences of these emotions by using emotion coaching, a process of helping children be aware of and talk about their emotions. Children who experience the divorce of their parents generally are more likely to struggle socially compared to children from intact families. They are more likely to be aggressive, have poorer relationships with same-age children, and have fewer close friends. Also, these children and teenagers appear to be less involved in extracurricular activities, such as sports or music, and other enrichment programs, such as after-school classes or summer programs. This is likely due to less money to pay for such activities, less availability of parents to drive the child and attend lessons and events, ore frequent moves, and visiting and custody schedules that interrupt participation in team sports and other activities. Children and teenagers who experience the divorce of their parents may end up getting less parental supervision. As a result, some scholars believe that these children may be more susceptible to the influence of their peers and this increases the chances of them getting involved in deviant behavior, including drug and alcohol use and smoking. Generally, research has not found large differences in how boys and girls tend to adjust to divorce. However, it seems that boys, more than girls, tend to be more aggressive toward others and this can lead to their friends and peers rejecting them. Boys may be somewhat more likely to act in defiant ways at home and in school; girls may be somewhat more likely to experience anxiety and depression. A childs age when his or her parents divorce is another factor that parents worry about. But divorce on children has not shown a consistent pattern. Some studies suggest that romantic relationships in the future of children of divorce can be affected because of their experiences as a young child. In addition, ome scholars believe that children of divorce are less likely to learn crucial social skills in the home, such as cooperation, negotiation, and compromise that are necessary for success in life. Children exposed to high levels of conflict between their parents, both before and after a divorce, may learn to model the poor communication of their parents.

A comparison of tabloid and broadsheet newspapers Essay Example for Free

A comparison of tabloid and broadsheet newspapers Essay To understand the subject of this essay, I thought it would help to briefly look at the history and background of newspapers, because I believe this gradually influences peoples decisions on buying a paper today. In earlier years, the majority of people buying newspapers were all well educated, middle class intellectuals. As a result of this many papers actually tended to follow the broadsheet format. Most people that bought a newspaper would have full intention of reading from front to back. Most papers had between four and nine pages with a lot of columns and very small print; there were not many pictures and very little graphics. This was generally because of the lack of technology available to the publishers and their printers. As time progressed, so did the technology that went into the newspapers. With this improvement in technology this enables the publishers to focus on more specific readership. In a newspaper you can find that they can now devote sectors of the newspaper to individual interests, at the same time as having more illustrations and advertisements. We investigated how tabloids and broadsheets have appeared to combine these new ideas, but somehow still have different techniques, writing styles and format. We did this by using interviews and surveys to help us gain the results we wanted. To gain further understanding of the type of people that read tabloid and broadsheet newspapers, the pupils in our class carried out a survey. The principle was to find out if there were any links between our research and the class survey, it helped us gain more knowledge on the time that papers are read during the day and what days they are tended to be read on. When the survey was complete we collected the results to find that there was quite an even spread of readers for both the tabloid paper and the broadsheet paper. Another interesting fact was that mainly broadsheets were read on the weekend rather than the working week. I recognize that this must be because of the size and depth of the broadsheet which becomes a immediate fault of the paper has it makes it very hard for somebody going to work on the train or bus to read a large paper such as The Telegraph in such tight compact spaces. Our class also carried interviews with their friends and family to try and find out the reason behind this predilection. In the majority of cases, the time available and the content of the newspaper were concerns. Many people believed that a broadsheet were more detailed and focused on finance and politics, whereas tabloid papers tended to be more light-hearted and entertaining. There were a lot more gossip columnists and many pages devoted to entertainment and celebrities featured in The Sun. As I expected the size of the newspapers were a big matter into deciding which paper someone would buy. According to the interviewees, broadsheets were understandably an inconvenient size if they were to be read on a coffee brake or a journey as they were just too big. Tabloid papers were popular because of the advantage of there size as they can be read at spare moments during the day and contained a television guide. Personally I tend to read newspapers at the weekend and the members of my family generally make the choice of paper, I enjoy reading a tabloid a lot more than I do a broadsheet because broadsheets cover a large quantity of business and finance and I am not interested in these subjects. I enjoy reading The Sun as it contains a lot of sport news and celebrity news. Tabloid papers in my opinion are a lot easier to read as u dont have to take a lot of time reading each article like you do in the broadsheet newspapers. Before we actually started to examine individual articles, we made some general assertions concerning the papers contents. We all noticed that there were a surprisingly large amount of adverts in the broadsheet newspaper, which included a completely covered double-page spread on just adverts. A British Airways advert, covered a page of the Daily Telegraph the size made it eye-catching and very effective to the reader. For further exploration we compared two articles, which at the time were concerning the situation in Saudi Arabia. The first article was featured in The Sun, entitled, Saudi Aid. The second article was found in The Daily Telegraph entitled, Arab states back Bush over Iraq. My immediate observation was the difference and contrast in headlines. The tabloid headline was much shorter than that of the broadsheet, therefore the information given was. Saudi Aid gave the reader a suggestion of the articles content, but did not make any kind of effort to enhance on the subject. On the other hand The Telegraph was more informative and had a much more detailed headline, Arab states back Bush over Iraq. This headline refers to a specific incident which is very straight forward it also includes one of the most well known names in the world, this is a clever way of using someones name involved in the issue to draw in the reader the also tone suggests controversy. The Sun followed its brief headline with a more detailed summary, giving us further amplification on the subject. The Telegraph on the other hand had a sub headline of Way cleared for countdown to war. Again the focus of the piece was narrowed down to ass impact on their first headline. The sub headline included and extremely emotive phrase, Countdown to War. This gives no definite answer to the question most people were asking themselves at the time, it just leaves the possibility that it could happen in the future if the situation deteriorates. The Sun also included a sub headline in its article. Saudis to aid attack on Iraq again this repeats the word aid from the headline but this time expanding on the content of the article. The reporter actually uses rhyme, which increases the articles appeal, because it becomes captivating and memorable. In continuing to study the format of the article, I noticed that the front pages of both pieces were very different. The Telegraphs report was split into four columns, with an enlarged quote dividing the second column. In this article there was clearly more writing, and whilst I could perceive a summary, it was not highlighted in any way, like The Suns report, which had a summary in bold type and a sub heading of Weapons halfway through the first column, such use of a sub headline created drama and tension. The summary uses colloquial language, and emotive writing such as the Saudis fear they will never be safe while Saddam rules. With added patriotism, the summary lures the reader to read on through the article, to reach the main point of the piece. Unlike the broadsheet article, there was a picture featured in the tabloid newspaper. The picture was of Jack Straw and by adding a picture the information in the article is authentic and may entice the reader to look more closely at the piece, and maybe value the reporters opinion more. Another creative effect is The Suns use of italics. By placing a chosen phrase or paragraph in italics, the readers attention is drawn to the chosen area, showing that the specific phrase is important, and so the reader should pay attention to it. The general tone of the suns article is informal throughout the piece. The reporter remains biased and doesnt believe that the possibility of war may be resolved. The piece in The Telegraph takes an objective style and presents both sides of the argument, and continually stating that there is no definite war. The miscellany in reporting styles also includes the use of more formal language with words such as repercussions. I would presume that the readers of a broadsheet newspaper are more middle-class. This is a generalisation but that the fact that there is more business, finance and culture in the broadsheet newspaper. There is one similarity between the articles it is that they both include the national security adviser Conddeezza Rice. Overall the broadsheet newspaper includes more concept language and is rather informal, whilst the tabloid newspaper has short headlines with a catchy theme to it, instead of a more sophisticated and simple headlines brought to us by the broadsheet newspapers.

Polygon of Forces and Condition of Equilibrium

Polygon of Forces and Condition of Equilibrium Introduction The polygon of forces represent lot of forces leading in a simultaneously to one point so all this forces acting will make a figure or they are call Vector such as force, that has magnitude and direction and can be resolved into components that are odd functions of the coordinates. A vector is a directed at an angle to the horizontal (or the vertical) can be thought of as having two parts (or components). That is, any vector directed in two dimensions can be thought of as having two components. For example, if a chain pulls upward at an angle on the collar of a dog, then there is a tension force directed in two dimensions. This tension force has two components: an upward component and a rightward component. As another example, consider an airplane, which is displaced northwest from OHare International Airport (in Chicago) to a destination in Canada. The displacement vector of the plane is in two dimensions (northwest). Thus, this displacement vector has two components: a northward component and a westward component. http://www.physics247.com/physics-homework-help/dynamics8.jpg Newton law variety of ways by which motion can be describedwords, graphs, diagrams, in this unit Newtons Laws of Motion the ways in which motion can be explained will be discussed. Isaac Newton a 17th century scientist put forth a variety of laws, which explain why move objects or dont move as they do. These three laws have become known as Newtons three laws of motion. The focus of Lesson 1 is Newtons first law of motion. http://www.physics247.com/physics-homework-help/dynamics8.jpg Method Attaching four lengths of strings to the pulley of fine cord and adjusting the weight of F1: 850g F2: 800g F3: 800g F4: 800g to the maximums to the string and them put a sheet of paper record all the line on the sheet of paper to help you to do all the calculation did this experiment. Results The values was in grams so this values as to be convert to Newtown so to convert kilogram to Newtown you multiply by the value in kilogram by 9.81 My value are F1: 850g = 0.85kg  ´ 9.81 = 8.34N F2: 800g=0.80kg ´ 9.81 =7.85N F3: 800g=0.80kg ´ 9.81 =7.85N F4: 800g=0.80kg ´ 9.81 =7.85N X axes Y axes F1= 8.34N cos 42 °= 6.20N F1= 8.34N sin 42 °= 5.58N F2= 7.85N cos 136 °= -5.65N F2= 7.85N sin 136 °= 5.45N F3= 7.85N cos 224 °=-5.65N F3=7.85N sin 224 °= -5.45N F4= 7.85N cos 313 °=5.35N F4=7.84N sin 313 °= -5.74N SFx= 0.25N SFy= -0.16N R = 0.192N angle q =20 ° Discussion This results are equilibrium but they was same human error thats why the results are not equal to zero but it ok so the percentage error of are 0.41%. These lines of action produce a closed polygon thats why a drawing of polygon of forces as been draw from head to tail to prove that the result of this equation and the drawing as a result angle of 20 °. The analytic of forces show that these forces are equilibrium but the result shows that there is an error in the calculation this error is duo to loose of fiction, this can happen by the loop move or human error. The possibility of losses friction experiment are the pulleys when it running can cause losses of friction, the cable was use in this experiment could be one of problem is well and another possibility is that the person ho transfer the line in to the sheet of paper did not mark the follow the line. Looking to this experiment the difference between static friction and kinetic friction is that static friction when it applied force is less than the limiting friction, the body remains at rest It is the friction experienced by a body, when it is at rest, or when the car is at full stop or not moving. Kinetic friction When it applied force exceeds the limiting friction the body starts moving over the other body and the Friction of resistance experienced by the body while moving and if you are running for you to stop kinetic friction will apply. FRICTION Frictions can benefits to our life because friction it happen to Olmos every think we do in our daily life, exp: when pushing a baby pushchair these friction there, when we slip friction is there, when we shaking hands friction is there to and it important uses in some situations, friction is very important and beneficial. There are many things that you could not do without the force of friction. Friction and weight are common experiences and taken for granted, but were not always understood. Aristotle believed that objects that contained earth fell because in Earth was at the center of the universe, and that was the natural order of things. We know that weight, which is the force of gravity between objects, not only makes apples fall from trees, but keeps the Moon circling the Earth, and the Earth circling the sun. Aristotle also believed (and some students still believe) that the natural state of an object is to be at rest. That is, without a force pushing it, an object will slow d own to a stop. This view overlooks friction, which is the force that causes most objects we see to come to rest. Now we know that there is nothing pushing planets along their orbit, and that without gravity to hold them in orbit, they would continue to move in a straight line until interfered with Friction. The disadvantage of friction is that you could not walk without the friction between your shoes and the ground as you try to step forward; you push your foot backward Friction holds your shoe to the ground, allowing you to walk Consider how difficult it is to walk on slippery ice, where there is little friction when you playing a football match it makes friction and friction also cause as to use lot of energy so we are playing a big object on friction Writing with a pencil requires friction You could not hold a pencil in your hand without friction It would slip out when you tried to hold it to write The graphite pencil led would not make a mark on the paper without friction. A pencil eraser uses friction to rub off mistakes written in pencil lead Rubbing the eraser on the lead wears out the eraser due to friction, while the particles worn off gather up the pencil lead from the paper. The means of reducing friction when moving a large object is that if two people move the object with the same forces they will be less friction and you need to reduce friction between the box and the tile floor so that you can move the box easy, you can increase friction on your shoes to help you move the box. Static friction Static friction is friction between two solid objects that are not moving relative to each other. For example, static friction can prevent an object from sliding down a sloped surface. The coefficient of static friction, typically denoted as ÃŽ ¼s, is usually higher than the coefficient of kinetic friction. Kinetic friction Kinetic friction occurs when two objects are moving relative to each other and rubs together (like a sled on the ground). The coefficient of kinetic friction is typically denoted as ÃŽ ¼k, and is usually less than the coefficient of static friction for the same materials. In fact, Richard Feynman reports, with dry metals it is very hard to show any difference. Finally, new models are beginning to show how kinetic friction can be greater than static friction.A surface can always supply a normal force, perpendicular to the surface. However, a surface quite often also supplies a fiction force parallel to the plane. Friction forces always oppose the motion or prevent the motion. Conclusions Friction is necessary in many ways to prevent slipping or sliding but also, it can be a nuisance because it can affect many thinks in our life by in reality friction is very important, in this report the very important key is that the experiment went well as according to plan the calculation was correct but the was a small error in the all project that we count prove that this equation was equilibrium but the error did came from many ways exp: human error and many thinks. References http://www.physics247.com/physics-homework-help/dynamics8.jpg http://en.wikipedia.org/wiki/Static_friction

Behind The Gare Saint-Lazare :: essays research papers

As one of the world’s first photojournalists, Henri Cartier-Bresson has transformed the profession through his concept of â€Å"the decisive moment†, the dramatic climax of a picture where everything falls perfectly into place. Traveling extensively since 1931, Cartier-Bresson’s images have been renown throughout the world due to his remarkable sense of timing and his intuition in seizing the right moment.   Ã‚  Ã‚  Ã‚  Ã‚  To fully understand Cartier-Bresson’s pictures, one must first understand his artistic philosophy. Born in 1908 in Chanteloup, near Paris Cartier-Bresson’s passion for photography erupted from his love for the early motion pictures. As he would later say, â€Å"From some of the great films, I learned to look, and to see.† Films such as Eisenstein’s Potemkin and Dreyer’s Jeanne d’Arc â€Å"impressed [him] deeply†. Cartier-Bresson yearned to capture real life. He believed in order to do this the subject must be oblivious to the photographer. Indeed, he has never in his professional career contrived a setting or arranged a photograph, an outlook that stems from his strong belief that the photographer should blend into the environment and not influence the behavior of his subject. Cartier-Bresson sees photography as, â€Å"†¦a way of shouting, of freeing oneself, not of proving or asserting one’s own origin ality.†   Ã‚  Ã‚  Ã‚  Ã‚  Cartier-Bresson worked only with a Leica camera, one of the quietest and fastest of the day. The Leica camera was perfect for Cartier-Bressons documentary style photography, but as an added effect he put black tape over the metallic front as to remain as hidden as possible, a technique that has been copied ever since. He used mainly a 50mm lens and black and white film. Cartier-Bresson shot his pictures with a 50mm lens, because in order to capture a decisive moment, one must be ready at any given instant, not allowing time to change lenses. Also, maintaining the full size of the original photograph was very important to Cartier-Bresson. He felt that cropping a picture would dilute its meaning.   Ã‚  Ã‚  Ã‚  Ã‚  Cartier-Bresson’s use of black and white film is a result of the technology of his day. Though color film was available as early as 1907, it remained difficult to use until the 1970’s. The early color film emulsions were very slow; causing close shots to look cramped. Also, blurred backgrounds in color were much less acceptable than they were in black and white. These limitations caused early color photographs to confine themselves to static subject or bright lights. So as a spontaneous photojournalist Cartier-Bresson had little choice in the matter.

Vegetarianism :: Healthy Lifestyle Essay

Vegetarianism Vegetarianism is the limitation of ones diet to only vegetables. Vegetarianism has been around for centuries, but recently we have seen the eruption of a more militant vegetarianism that is inspired by the animal "rights" movement. Today, vegetarian activists are throwing pies at Ronald McDonald and the Pork Queen, scrawling "meat is murder" in prominent locations, committing terrorist acts of arson, and waging media campaigns equating meat consumption with cannibalism. Vegetarians are, on the average, far healthier than those who consume the typical Western diet, and enjoy a lower incidence of many chronic diseases. However, it has not been proven that one must eliminate meat from one's diet in order to be healthy. It has been aptly demonstrated that the typical Western diet contains too much fat. Eliminating meat from the diet is one way to reduce fat, but it is not the only way. Vegetarian diets have also been shown to increase the risk for nutrient deficiencies. Children are particularly vulnerable and can lead to growth problems. Vegetarian children often fail to grow as well as their omnivorous counterparts despite protein intakes. Ecological arguments against omnivorous and carnivorous eating are little more than an attempt by those from the less popular animal "rights" movement to ride the coattails of the more popular environmental movement. In some cases, warnings of impending environmental cataclysm are used to advance an ethical agenda. However, arguments to the effect that eating meat is "destroying the planet" overlook that the planet has not yet been destroyed despite millions of years of omnivorous and carnivorous eating by millions of individuals from a multitude of species. The Second Law of Thermodynamics dictates that some energy will be inevitably lost as one moves up the food web. Therefore, arguments about how it takes X pounds of plant protein to generate Y pounds of meat have a sound theoretical basis. However, these arguments are often overstated. These arguments falsely assume that pork chops and steak are the only products of animal agriculture. They falsely presume that a pound of animal foodstuffs is nutritionally and energetically equivalent to a pound of plant foodstuffs. These arguments also ignore the energy content and opportunity cost of replacing animal by-products, which is considerable. Even the animal's excrement is a valuable resource. Certain animal products, such as fetal calf serum, collagen and laminin are crucial for medical research using cell cultures, and have no available alternatives.

Biblical Figures and Ideals in Shakespeares Richard II Essay -- Richa

Biblical Figures and Ideals in William Shakespeare's Richard II William Shakespeare's Richard II tells the story of one monarch's fall from the throne and the ascension of another, Henry Bullingbrook, later to become Henry IV. There is no battle fought between the factions, nor does the process take long. The play is not action-packed, nor does it keep readers in any form of suspense, but rather is comprised of a series of quietly dignified ruminations on the nature of majesty. Thus, the drama lies not in the historical facts, but in the effects of the situation on the major characters and the parallels drawn by Shakespeare to other tales. The outrage felt by Richard and his fellow royalists is not due from a modern sense of personal loss, but from the much more important sense of loss of order, which came most predominately from the strictly Catholic sensibilities of the time. In Richard's time kings were believed to be divinely appointed and "not all the water in the rough rude sea can wash the balm off from an anointed king" (III.iii, 54-5). T his disparity between the perceived will of God and the way in which the events unfold creates trouble in the minds of the characters and the audience. Shakespeare makes it clear that this is not just a simple switch of power, rather a series of events whose meanings and effects penetrate far deeper than the mere surface of the story. Although not as advanced in its stagecraft as many of Shakespeare's other plays, the intricate web of metaphor and poetry in Richard II makes it perhaps the most meaningful and intense of the historical plays. Richard is not the sniveling villain a lesser playwright might have made him, but a philosopher and a poet whose ideas of majesty have been c... ...49-50), desiring to repent his sin toward Richard in Jerusalem. The historical reality of this story is merely that a bad king was replaced by a better one. However, Richard II is not merely a play about a few men long dead; it is about betrayal, dignity, sacrifice, and redemption. Seen through Shakespeare's eyes, the story is not even only about the characters contained in it, but about biblical figures and ideals that enrich the play, allowing this drama to speak to its readers no matter their location in time and space and enticing all to say, of Richard, as of Christ of Shakespeare: the King is dead, long live the King. Work Cited Shakespeare, W. "The Tragedy of King Richard the Second." The Complete Classic Shakespeare. Toronto: Harcourt Brace Johanovich, Publishers, 1997 The Holy Bible, New International Version. Grand Rapids: Zondervan, 1992.

Family groupings Essay

1. â€Å"Many young children spend more waking hours with caregivers than they do with their primary families† (Swim & Watson, 2011, p. 16). Based on the information presented on pages 9-21 of your course text, explain how the combination of family groupings, continuity of care, primary caregiving, and rich partnerships with families enhance healthy infant development and learning in the context of infant care. It is very important that an infant develops a relationship with at least one primary caregiver for social and emotional development to occur normally. The attachment theory suggests that infants, toddlers and adults need time to create positive emotional bonds with one another. The transition between home and school should be smooth and continuous. The only pathway for achieving that is through partnering with families. Recognizing, supporting, and utilizing this can significantly improve your effectiveness as a caregiver and educator (Swim & Watson, 2011). 2. Developmentally appropriate practice in infant settings requires understanding the bidirectional and reciprocal relationship between the child and his or her environment. Based on Chapters 1 & 2 of your course text, provide a total of three examples of bidirectional and reciprocal relationships that exist between infants, families and child care settings. Based on these examples, describe the role infant settings can play in supporting infant and family development. Three examples of bidirectional and reciprocal relationships are physical, emotional and social language. There is an increased need for teacher education, parent education, including proper selection of care settings, innovative and child centered practices such as continuity of care, effective use of resources. The role infant settings can play in supporting infant and family development is it is important for the primary caregiver to understand that even newborns have a part in their own growth and development. Infa nts have their wants, needs and desires and they must be respected (Swim & Watson). 3. â€Å"A culturally rich curriculum encourages the recognition of cultural differences and helps young families connect with the traditions of their heritage and culture† (Swim & Watson, 2011, p. 21). Based on the discussion of cultural models presented on pages 21-23 of your course text, explain the role of the infant caregiver in providing a culturally rich curriculum. A culturally rich curriculum encourages the recognition of cultural differences and helps young families connect with the traditions of their own heritage and culture. Infant caregivers recognize the richness and opportunities available in order to work with families of diverse ethnic, racial and cultural groups (Swim & Watson). The infant caregiver wants what we all want and that is happy, healthy and successful children. Organizing and ongoing reflection upon what parents tell us about their strategies can help us discover their cultural model for caregiving, and then compare it with the cultural models th at guide our own practice (Watson, 2011).

Investment Analysis and Portfolio Management

EXECUTIVE SUMMARY In an economy, people indulge in economic activity to support their consumption requirements. Savings arise from deferred consumption, to be invested, in anticipation of future returns. Investments could be made into financial assets, like stocks, bonds, and similar instruments or into real assets, like houses, land, or commodities. The aim of Portfolio Manager is to provide a brief overview of three aspects of investment: * The various options available to an investor in financial instruments. The tools used in modern finance to optimally manage the financial portfolio. * Lastly the professional asset management industry as it exists today. Returns more often than not differ across their risk profiles, generally rising with the expected risk, i. e. , higher the returns, higher the risk. The underlying objective of portfolio management is therefore to create a balance between the trade-off of returns and risk across multiple asset classes. Portfolio management is th e art of managing the expected return requirement for the corresponding risk tolerance.Simply put, a good portfolio manager’s objective is to maximize the return subject to the risk-tolerance level or to achieve a pre-specified level of return with minimum risk. 1. Investment and Its objectives Mini Content 2. 1 Define Investment 2. 2 Defining Investment Objectives 2. 3 Goals and Needs 2. 4 Types of investors 2. 5 Investment Process 2. 6 Investments available in India Define Investment Investment is putting money into something with the expectation of gain that upon thorough analysis has a high degree of security for the principal amount, as well as security of return, within an expected period of time. . The action or process of investing money for profit or material result. 2. Two main classes of investment are (i)  Fixed income investment  such as  bonds,  fixed deposits,  preference shares, and (ii)  Variable  income investment such as  business  ownersh ip  (equities), or property ownership. In  economics, investment  means  creation of  capital  or  goods  capable of  producing  other goods or  services. Expenditure  on  education  and  health  is recognized as an investment in  human capital, and  research and development  in  intellectual capital. Return on investment (ROI)  is a key  measure  of an  organization's  performance.DEFINING YOUR INVESTMENT OBJECTIVES: Investing wisely is a function of your speci? c needs and goals. Each investor has different objectives that need to be met depending on age, income, planned activities, and attitudes about risk. How can you work with your investment advisor to best determine which investments are right for you? Among the important factors to consider are personal status, plans, and constraints. Some of the issues that you and your advisor should consider in de? ning the objectives that are right for you are listed below. Goals and Need s: You may have speci? goals and requirements that you want your investment portfolio to ful? ll. For example, you may be funding college for children, business expansion, travel plans, or retirement needs. You should identify these goals and needs clearly with your investment advisor so that his or her recommendations for your portfolio can assist you in meeting them. Age: Your age is an important consideration when deciding how much risk to assume. Portfolio assets that are riskier and that will ? uctuate more over time may be appropriate for younger investors but not for others.An individual who does not expect to liquidate the assets in his or her portfolio for a number of years has more time to recover from a market downturn, while an investor close to retirement may be more likely to prefer stable assets and capital preservation. Age also affects the choice between income-earning securities and those oriented toward capital gains. An investor who is employed and near peak earn ing power will probably want to minimize paying taxes, and will therefore lean toward investments that do not provide current income. Income :Both your absolute income level and your income requirements in? uence your investment objectives in several ways. First, income, like age, in? uences the choice between dividend-paying or interest-paying investments, and those whose primary return is in the form of capital gains. You may prefer income-producing investments if you need to supplement or replace earned income. Your income level also affects your investment choices because it determines your tax rate. Low-tax-bracket investors — generally those whose income is lower — will be more likely to prefer income-producing investments.High-tax-rate investors are more likely to choose tax-deferred or tax-sheltered assets. Income also may in? uence risk preferences. High income investors may be more willing to choose higher risk investments since they can more easily contribut e additional investment capital should they sustain losses. Taxes Your after-tax return is the return that matters. You should fully inform your investment advisor about your tax rate and any special tax circumstances that might apply to you. This will determine whether you should seek tax exempt or tax-sheltered securities as a part of your portfolio.The appropriateness of income or capital gains should be discussed in the context of your personal situation, so you may want your investment advisor to consult with your accountant. Occupation Your occupation also can affect portfolio objectives. Some professions produce more stable incomes than others, enabling the investor to tolerate more investment ? uctuations. Your profession also may determine other assets. For example, does your job provide an adequate retirement plan, or must you fund your retirement from your investment portfolio?If your employer provides a stock-purchase plan, this may be a substantial part of your personal wealth, and you should consider it as a diversi? cation issue when you make other portfolio choices. If you receive tax-quali? ed or tax-deferred assets from your job, these also will in? uence your investment decisions. Wealth Investment objectives should take into consideration the assets you hold outside the portfolio. For example, if you have substantial equity in your home, you may want to minimize real estate holdings in your ? nancial assets, or you may need to consider a different type of real estate asset.If you hold illiquid assets, then new investments may emphasize liquidity. The value of your existing assets will probably affect your tolerance for risk. In addition, your level of wealth has probably in? uenced your lifestyle. Maintaining a desired lifestyle into retirement and throughout will need to be factored into your investment objectives. Time Horizon An important consideration in setting investment objectives is your time horizon. When do you expect to liquidate a portfolio? Should you choose assets of short or long maturity?Do you have time to recover from a declining market, or is capital preservation important to meet an immediate ? nancial need? Liquidity Liquidity is the ease with which you can convert your assets to cash at fair market value. It is essential that you recognize the need to convert your assets into cash at the appropriate times. Do you require a portfolio that can be liquidated easily, or can you afford to wait? Since greater liquidity generally results in lower return, it is necessary to give serious consideration to the inherent tradeoffs. Tolerance for Risk Your tolerance for risk is a very personal decision, and a question that is dif? ult for many investors to answer. In general, markets tend to provide higher returns in exchange for bearing higher risks. Often you will ? nd that the investments with the highest long-term returns are very volatile in the short run. It is important to be honest with yourself in ass essing whether you are comfortable with market volatility, and the level you can tolerate. While it is easy in hindsight to wish you had invested in a risky segment of the market that has performed well recently, a more realistic view is to look forward at the risk that might occur in the future. Other Special CircumstancesAre there other considerations of which your advisor should be aware? Consider here any special needs, goals, or problems you have not already addressed. Types of investors There is wide diversity among investors, depending on their investment styles, mandates, horizons, and assets under management. Primarily, investors are either individuals,in that they invest for themselves or institutions, where they invest on behalf of others. Risk appetites and return requirements greatly vary across investor classes and are key determinants of the investing styles and strategies followed as also the constraints faced.A quick look at the broad groups of investors in the mark et illustrates the point. Individuals While in terms of numbers, individuals comprise the single largest group in most markets, the size of the portfolio of each investor is usually quite small. Individuals differ across their risk appetite and return requirements. Those averse to risk in their portfolios would be inclined towards safe investments like Government securities and bank deposits, while others may be risk takers who would like to invest and / or speculate in the equity markets.Requirements of individuals also evolve according to their life-cycle positioning. For example, in India, an individual in the 25-35 years age group may plan for purchase of a house and vehicle, an individual belonging to the age group of 35-45 years may plan for children’s education and children’s marriage, an individual in his or her fifties would be planning for post-retirement life. The investment portfolio then changes depending on the capital needed for these requirements. Insti tutionsInstitutional investors comprise the largest active group in the financial markets. As mentioned earlier, institutions are representative organizations, i. e. , they invest capital on behalf of others, like individuals or other institutions. Assets under management are generally large and managed professionally by fund managers. Examples of such organizations are mutual funds, pension funds, insurance companies, hedge funds, endowment funds, banks, private equity and venture capital firms and other financial institutions. We briefly describe some of them here. Mutual fundsIndividuals are usually constrained either by resources or by limits to their knowledge of the investment outlook of various financial assets (or both) and the difficulty of keeping abreast of changes taking place in a rapidly changing economic environment. Given the small portfolio size to manage, it may not be optimal for an individual to spend his or her time analyzing various possible investment strategi es and devise investment plans and strategies accordingly. Instead, they could rely on professionals who possess the necessary expertise to manage their funds within a broad, pre-specified plan.Mutual funds pool investors’ money and invest according to pre-specified, broad parameters. These funds are managed and operated by professionals whose remunerations are linked to the performance of the funds. The profit or capital gain from the funds, after paying the management fees and commission is distributed among the individual investors in proportion to their holdings in the fund. Mutual funds vary greatly, depending on their investment objectives, the set of asset classes they invest in, and the overall strategy they adopt towards investments. Pension fundsPension funds are created (either by employers or employee unions) to manage the retirement funds of the employees of companies or the Government. Funds are contributed by the employers and employees during the working life of the employees and the objective is to provide benefits to the employees post their retirement. The management of pension funds may be in-house or through some financial intermediary. Pension funds of large organizations are usually very large and form a substantial investor group for various financial instruments. Endowment fundsEndowment funds are generally non-profit organizations that manage funds to generate a steady return to help them fulfill their investment objectives. Endowment funds are usually initiated by a non-refundable capital contribution. The contributor generally specifies the purpose (specific or general) and appoints trustees’ to manage the funds. Such funds are usually managed by charitable organizations, educational organization, non-Government organizations, etc. The investment policy of endowment funds needs to be approved by the trustees of the funds. Insurance companies (Life and Non-life)Insurance companies, both life and non-life, hold large por tfolios from premiums contributed by policyholders to policies that these companies underwrite. There are many different kinds of insurance policies and the premiums differ accordingly. For example, unlike term insurance, assurance or endowment policies ensure a return of capital to the policyholder on maturity, along with the death benefits. The premium for such policies may be higher than term policies. The investment strategy of insurance companies depends on actuarial estimates of timing and amount of future claims.Insurance companies are generally conservative in their attitude towards risks and their asset investments are geared towards meeting current cash flow needs as well as meeting perceived future liabilities. Banks Assets of banks consist mainly of loans to businesses and consumers and their liabilities comprise of various forms of deposits from consumers. Their main source of income is from what is called as the interest rate spread, which is the difference between the lending rate (rate at which banks earn) and the deposit rate (rate at which banks pay).Banks generally do not lend 100% of their deposits. They are statutorily required to maintain a certain portion of the deposits as cash and another portion in the form of liquid and safe assets (generally Government securities), which yield a lower rate of return. These requirements, known as the Cash Reserve Ratio (CRR ratio) and Statutory Liquidity Ratio (SLR ratio) in India, are stipulated by the Reserve Bank of India and banks need to adhere to them. In addition to the broad categories mentioned above, investors in the markets are also classified based on the objectives with which they trade.Under this classification, there are hedgers, speculators and arbitrageurs. Hedgers invest to provide a cover for risks on a portfolio they already hold, speculators take additional risks to earn supernormal returns and arbitrageurs take simultaneous positions (say in two equivalent assets or same asset i n two different markets etc. ) to earn riskless profits arising out of the price differential if they exist. Another category of investors include day-traders who trade in order to profit from intra-day price changes.They generally take a position at the beginning of the trading session and square off their position later during the day, ensuring that they do not carry any open position to the next trading day. Traders in the markets not only invest directly in securities in the so called cash markets, they also invest in derivatives, instruments that derive their value from the underlying securities. Types of investment in Indian Financial Market Banking SectorIntroductionThe Reserve Bank of India (RBI) is India's central bank.Though the banking industry is currently dominated by public sector banks, numerous private and foreign banks exist. India's government-owned banks dominate the market. Their performance has been mixed, with a few being consistently profitable. Several public sector banks are being restructured, and in some the government either already has or will reduce its ownership. Banks in India can be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 branches of Scheduled banks spread across India.During the first phase of financial reforms, there was a nationalization of 14 major banks in 1969. This crucial step led to a shift from Class banking to Mass banking. Since then the growth of the banking industry in India has been a continuous process. As far as the present scenario is concerned the banking industry is in a transition phase. The Public Sector Banks (PSBs), which are the foundation of the Indian Banking system account for more than 78 per cent of total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology.On the other hand the Private Sector Banks in India are witnessing immense progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs. On the other hand the Public Sector Banks are still facing the problem of unhappy employees. There has been a decrease of 20 percent in the employee strength of the private sector in the wake of the Voluntary Retirement Schemes (VRS). As far as foreign banks are concerned they are likely to succeed in India. Induslnd Bank was the first private bank to be set up in India.IDBI, ING Vyasa Bank, SBI Commercial and International Bank Ltd, Dhanalakshmi Bank Ltd, Karur Vysya Bank Ltd, Bank of Rajasthan Ltd etc are some Private Sector Banks. Banks from the Public Sector include Punjab National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank, Andhra Bank etc. ANZ Grindlays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank etc are some foreign banks operating in India. Private and foreign banksThe RBI has granted operating approval to a few privately own ed domestic banks; of these many commenced banking business.Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion. RBI bankingThe Reserve Bank of India is the central banking institution. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India. It supervises and administers exchange control and banking regulations, and administers the government's monetary policy. It is also responsible for granting licenses for new bank branches. 5 foreign banks operate in India with full banking licenses. Several licenses for private banks have been approved. Despite fairly broad banking coverage nationwide, the financial system remains inaccessible to the poorest people in India. Some of its main objectives are regulating the issue of bank notes, managing India's foreign excha nge reserves, operating India's currency and credit system with a view to securing monetary stability and developing India's financial structure in line with national socio-economic objectives and policies. Indian banking systemThe banking system has three tiers.These are the scheduled commercial banks; the regional rural banks which operate in rural areas not covered by the scheduled banks; and the cooperative and special purpose rural banks. Scheduled and non scheduled banksThere are approximately 80 scheduled commercial banks, Indian and foreign; almost 200 regional rural banks; more than 350 central cooperative banks, 20 land development banks; and a number of primary agricultural credit societies. In terms of business, the public sector banks, namely the State Bank of India and the nationalized banks, dominate the banking sector.RBI restrictionsThe Reserve Bank of India lays down restrictions on bank lending and other activities with large companies. These restrictions, popular ly known as â€Å"consortium guidelines† seem to have outlived their usefulness, because they hinder the availability of credit to the non-food sector and at the same time do not foster competition between banks. Indian vs. Foreign banksMost Indian banks are well behind foreign banks in the areas of customer funds transfer and clearing systems. They are hugely over-staffed and are unlikely to be able to compete with the new private banks that are now entering the market.While these new banks and foreign banks still face restrictions in their activities, they are well-capitalized, use modern equipment and attract high-caliber employees. Grey futureOne more reason being the opacity of the The Reserve Bank of India. This does not mean a forecast of doom for the Indian banking sector the kind that has washed out south east Asia. And also not because Indian banks are healthy. We still have no clue about the real non-performing assets of financial institutions and banks. Many banks are now listed. That puts additional responsibility of sharing information.It is now clear that it was the financial sector that caused the sensational meltdown of some Asian nations. India is not Thailand, Indonesia and Korea. Borrowed investment in property in India is low and property prices have already fallen, letting out steam gently. Our micro-meltdown has already been happening. | Bank Deposit Schemes * Bank Deposit Schemes for Resident Indians * Bank Deposit Schemes for Non Resident IndiansBank deposits are preferred more for their  liquidity and safety  than for the returns thereon. Various banking and other facilities that one gets by opening a bank account viz.ATM cards, ATM-cum-Debit cards, Credit Cards, On-line / Internet banking, collection / realization of cheques and other instruments, safe deposit lockers, better customer service etc. are also a major reason in favour of bank deposits vis-a-vis other options. The deposit accounts offered by banks fall broadly under following categories :Bank Deposit Schemes for Resident IndiansFollowing deposit accounts are offered by banks to Resident Indians: * Savings Bank Accounts:  These accounts are opened for savings, liquidity and safety of funds and convenience in making day to day expenses and also earning some interest income.These accounts inculcate the habit of thrift in account holders. View salient features of Savings Bank accounts. * Current Accounts:  These accounts are opened for liquidity and safety of funds and for meeting day to day expenses. Current accounts are opened and maintained primarily by business and commercial organizations. No income is earned on these deposits. Individuals usually open these accounts for availing overdraft facility as overdraft facility is not available in Savings Bank accounts. View salient features of  Current Accounts. * Recurring Deposit Accounts:  These accounts are opened for saving purpose only.Some fixed amount is deposited at monthly int ervals for a pre-fixed term. These accounts generally earn higher interest than Savings Bank Accounts. View salient features of  Recurring Deposit accounts  in banks. * Fixed Deposit or Term Deposit Accounts:  These accounts are opened for investing funds for fixed terms to earn higher interests. Usually deposit for a longer period of time earns higher Interest Rate. The account holders have option of getting periodic payment of interest at monthly/quarterly intervals or re-investing the interest to be paid on maturity with the principal.View salient features of  Term / Fixed Deposit Accounts  in banks. * Special Bank Term Deposit Scheme – Bank Deposit Scheme under section 80C:  This is the only  Tax Saving Scheme  available with banks. The accounts opened under this scheme are eligible for  relief under Section 80C  of the Income Tax, Act. View salient features of  Bank Deposit Scheme for tax saving. Bank Deposit Schemes for Non-Resident IndiansFollowin g deposit accounts are offered by banks to Non Resident Indians: * Non-Resident External (NRE) Accounts:  These Accounts can be opened by Non Resident Indians individually or jointly with other Non Resident Indian(s).The accounts can be opened in Savings Bank, Current Account, Term/Fixed Deposit with monthly/quarterly interest payment or Term/Fixed Deposit with interest reinvestment types. The account holders can grant Power of Attorney to Resident Indians to operate upon their Savings Bank or Current Accounts. The accounts are maintained in Indian Rupees. View salient features of  NRE Accounts * * Foreign Currency Non Resident (FCNR) Accounts:  These Accounts can be opened by Non Resident Indians individually or jointly with other Non Resident Indian(s).The accounts can be opened as Term/Fixed Deposit with the option of monthly/quarterly Interest payment or of re-investing the interest for payment on maturity with the principal. The accounts are maintained in foreign currenci es viz. US Dollars, Euros, Sterling Pounds, Canadian Dollars, Australian Dollars and Japanese Yen. View salient features of  FCNR accounts. * Non-Resident Ordinary (NRO) Accounts:  These accounts can be opened by Non Resident Indians individually or jointly with other Non Resident or Resident Indian(s). These accounts can also be opened by Resident Indians by foreign inward remittance.The accounts are maintained in Indian Rupees. View salient features of  NRO Accounts. Mutual fundsMutual fund is a mechanism for pooling the resources by issuing units to the investors and investing funds in securities in accordance with objectives as disclosed in offer document. Investments in securities are spread across a wide cross-section of industries and sectors and thus the risk is reduced. Diversification reduces the risk because all stocks may not move in the same direction in the same proportion at the same time. Mutual fund  issues units to the investors in accordance with quantum o f money invested by them.Investors of mutual funds are known as  unit holders. The profits or losses are shared by the investors in proportion to their investments. The mutual funds normally come out with a number of schemes with different investment objectives which are launched from time to time. A mutual fund is required to be registered with Securities and Exchange Board of India (SEBI) which regulates securities markets before it can collect funds from the public. Schemes according to Maturity Period:A mutual fund scheme can be classified into open-ended scheme or close-ended scheme depending on its maturity period.Open-ended Fund/ SchemeAn open-ended fund or scheme is one that is available for subscription and repurchase on a continuous basis. These schemes do not have a fixed maturity period. Investors can conveniently buy and sell units at Net Asset Value (NAV) related prices which are declared on a daily basis. The key feature of open-end schemes is liquidity. Close-ended Fund/ SchemeA close-ended fund or scheme has a stipulated maturity period e. g. 5-7 years. The fund is open for subscription only during a specified period at the time of launch of the scheme.Investors can invest in the scheme at the time of the initial public issue and thereafter they can buy or sell the units of the scheme on the stock exchanges where the units are listed. In order to provide an exit route to the investors, some close-ended funds give an option of selling back the units to the mutual fund through periodic repurchase at NAV related prices. SEBI Regulations stipulate that at least one of the two exit routes is provided to the investor i. e. either repurchase facility or through listing on stock exchanges.These mutual funds schemes disclose NAV generally on weekly basis. Schemes according to Investment Objective:A scheme can also be classified as growth scheme, income scheme, or balanced scheme considering its investment objective. Such schemes may be open-ended or close-ended schemes as described earlier. Such schemes may be classified mainly as follows:Growth / Equity Oriented SchemeThe aim of growth funds is to provide capital appreciation over the medium to long- term. Such schemes normally invest a major part of their corpus in equities.Such funds have comparatively high risks. These schemes provide different options to the investors like dividend option, capital appreciation, etc. and the investors may choose an option depending on their preferences. The investors must indicate the option in the application form. The mutual funds also allow the investors to change the options at a later date. Growth schemes are good for investors having a long-term outlook seeking appreciation over a period of time. Income / Debt Oriented SchemeThe aim of income funds is to provide regular and steady income to investors.Such schemes generally invest in fixed income securities such as bonds, corporate debentures, Government securities and money market ins truments. Such funds are less risky compared to equity schemes. These funds are not affected because of fluctuations in equity markets. However, opportunities of capital appreciation are also limited in such funds. The  NAVs  of such funds are affected because of change in interest rates in the country. If the interest rates fall,  NAVs  of such funds are likely to increase in the short run and vice versa.However, long term investors may not bother about these fluctuations. Balanced FundThe aim of balanced funds is to provide both growth and regular income as such schemes invest both in equities and fixed income securities in the proportion indicated in their offer documents. These are appropriate for investors looking for moderate growth. They generally invest 40-60% in equity and debt instruments. These funds are also affected because of fluctuations in share prices in the stock markets. However,  NAVs  of such funds are likely to be less volatile compared to pure equi ty funds.Money Market or Liquid FundThese funds are also income funds and their aim is to provide easy liquidity, preservation of capital and moderate income. These schemes invest exclusively in safer short-term instruments such as treasury bills, certificates of deposit, commercial paper and inter-bank call money, government securities, etc. Returns on these schemes fluctuate much less compared to other funds. These funds are appropriate for corporate and individual investors as a means to park their surplus funds for short periods. Gilt FundThese funds invest exclusively in government securities.Government securities have no default risk. NAVs  of these schemes also fluctuate due to change in interest rates and other economic factors as is the case with income or debt oriented schemes. Index FundsIndex Funds replicate the portfolio of a particular index such as the BSE Sensitive index, S;P NSE 50 index (Nifty), etc These schemes invest in the securities in the same  weightageà ‚  comprising of an index. NAVs  of such schemes would rise or fall in accordance with the rise or fall in the index, though not exactly by the same percentage due to some factors known as â€Å"tracking error† in technical terms.Necessary disclosures in this regard are made in the offer document of the mutual fund scheme. There are also exchange traded index funds launched by the mutual funds which are traded on the stock exchanges. Postal savings| Postal Services in India India possesses the largest postal network in the world with 154,866  post offices, of which 139,040 (89. 78%) are in rural areas and 15,826 (10. 22%) are in urban areas. It has 25,464 departmental PO s and 129,402 ED BPOs. spread all over the country . Post offices in India play a vital role in the rural areas.They connect these rural areas with the rest of the country and also provide banking facilities in the absence of banks in the rural areas. Post Offices offer various types of schemes. These are : * Monthly Income Scheme * National Savings Certificate * Public Provident Fund * Time Deposit Scheme * Senior Citizen’s Saving Scheme * Saving Account Monthly Income Scheme (MIS) This scheme appeals to conservative investors with traditional values, and for good reason. This scheme offers monthly income and is a safe, guaranteed-by-the-government option. For retirees, widows and others looking or a steady income, it can be ideal. Read on to learn more. The Post Office Monthly Income Scheme, or PO MIS, is offered by Indian Post Offices. A lump sum amount is deposited with the post office and monthly interest earned each month is paid out to you. As the scheme is offered by post offices, it is backed by the government. Thus, the PO MIS is one of the safest investments available. Salient Features: * Interest rate of 8. 5% per annum payable monthly w. e. f. 01. 04. 2012 * Maturity period is 5 years. * No Bonus on Maturity w. e. f. 01. 12. 2011. * No tax deduction at source (TDS ). * No tax rebate is applicable. Minimum investment amount is Rs. 1500/- or in multiple thereafter. * Maximum amount is Rs. 4. 50 lakhs in a single account and Rs. 9 lakhs in a joint account. * Auto credit facility of monthly interest to saving account if accounts are at the same post office. * Account can be opened by an individual, two/three adults jointly, and a minor through a guardian. * Non-Resident Indian / HUF cannot open an Account. * Minors have a separate limit of investment of Rs. 3 lakhs and the same is not clubbed with the limit of guardian. * Facility of premature closure of account after 1 year but on or before 3 years @ 2. 0% discount. * Deduction of 1% if account is closed prematurely at any time after three years. * Suitable scheme for retired employees/ senior citizens and for those who need regular monthly income. National Saving Certificate (NSC) National Savings Certificates (NSC) are certificates issued by Department of post, Government of India and are avai lable at all post office counters in the country. This scheme is specially designed for Government employees, Businessmen and other salaried classes who are IT assesses. It is a long term safe savings option for the investor.Trust and HUF cannot invest. The scheme combines growth in money with reductions in tax liability as per the provisions of the Income Tax Act, 1961. The duration of a NSC scheme is 5 years. Salient Features: * NSC VIII Issue (5 years) – Interest rate of 8. 6% per annum w. e. f. 01. 04. 2012 * NSC IX Issue (10 years) – Interest rate of 8. 9% per annum w. e. f. 01. 04. 2012 * Minimum investment Rs. 100/-. No maximum limit for investment. * No tax deduction at source. * Investment up to Rs 1,00,000/- per annum qualifies for Income Tax Rebate under NSC – section 80C of IT Act. Certificates can be kept as collateral security to get loan from banks. * Trust and HUF cannot invest. * A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor. * The interest accruing annually but deemed to be reinvested will also qualify for deduction under NSC – section 80C of IT Act. Public Provident Fund (PPF) Public Provident Fund, popularly known as PPF, is a savings cum tax saving instrument. It also serves as a retirement planning tool for many of those who do not have any structured pension plan covering them.The balances in PPF account cannot be attached by any authority normally. Salient Features: * Interest rate of 8. 8% per annum w. e. f. 01. 04. 2012. * Minimum deposit is 500/- per annum. Maximum deposit is Rs. 1,00,000/- per annum * The scheme is for 15 years. * Investment up to Rs 1,00,000/- per annum qualifies for Income Tax Rebate under section 80C of IT Act. * Interest is completely tax-free. * Deposits can be made in lumpsum or in 12 installments. * One deposit with a minimum amount of Rs 500/- is mandatory in each financial year. * Withdrawal is permissible from 6th financial year. Loan facility available from 3rd financial year upto 5th financial year. The rate of interest charged on loan taken by the subscriber of a PPF account on or after 01. 12. 2011 shall be 2% p. a. However, the rate of interest of 1% p. a. shall continue to be charged on the loans already taken or taken up to 30. 11. 2011. * Free from court attachment. * Non-Resident Indians (NRIs) not eligible. * An individual cannot invest on behalf of HUF (Hindu Undivided Family) or Association of persons. * Ideal investment option for both salaried as well as self employed classes.Time Deposit Scheme A Post-Office Time  Deposit  Account  (RDA) is a  Ã‚  banking  service  similar to a Bank Fixed Deposit   offered by Department of post, Government of India at all post office counters in the country. The scheme is meant for those investors who want to deposit a lump sum of money for a fixed period; say for a minimum period of one year to two years, three years and a maxim um period of five years. Investor gets a lump sum (principal + interest) at the maturity of the deposit. Time Deposits scheme return a lower, but safer, growth in investment. Salient Features: 1 year, 2 year, 3 year and 5 year time deposits can be opened. * Interest payable annually but compounded quarterly: PERIOD| RATE OF INTEREST| One Year| 8. 2%| Two Years| 8. 3%| Three Years| 8. 4%| Five Years| 8. 5%| * Minimum amount of deposit is Rs 200/- and in multiples of Rs 200/- thereafter. No maximum limit. * Investment up to Rs 1,00,000/- per annum qualifies for Income Tax Rebate under section 80C of IT Act. * Interest income is taxable. * Facility of redeposit on maturity of an account. * In case of premature closure of 1 year, 2 Year, 3 Year or 5 Year account on or after 01. 12. 011 between 6 months to one year from the date of deposit, simple interest at the rate applicable to from time to time to post office savings account shall be payable. * 2 year, 3 year or 5 year accounts on o r after 01. 12. 2011 if closed after one year, interest on such deposits shall be calculated at a discount of 1% on the rate specified for respective period as mentioned in the concerned table given under Rule 7 of  Post office Time Deposit Rules. * Account can be pledged as security against a loan to banks/ Government institutions. * Any individual (a single adult or two adults jointly) can open an account. Group Accounts, Institutional Accounts and Misc. account not permissible. * Trust, Regimental Fund or Welfare Fund not permissible to invest. Senior Citizen’s Saving Scheme A new savings scheme called ‘Senior Citizens Savings Scheme’ has been notified with effect from August 2, 2004. The Scheme is for the benefit of senior citizens and maturity period of the deposit will be five years, extendable by another three years. Initially the scheme will be available through designated post offices through out the country. Salient Features: * Interest @ 9. 3% per an num from the date of deposit on quarterly basis w. e. f. 1. 04. 2012 * Minimum deposit is Rs 1000 and multiples thereof. Maximum limit of 15 lakhs. * Maturity period is 5 years and can be extended for a further period of 3 years. * Age should be 60 years or more, and 55 years or more but less than 60 years who has retired under a Voluntary Retirement Scheme or a Special Voluntary Retirement Scheme on the date of opening of the account within three months from the date of retirement. * No age limit for the retired personnel of Defence services provided they fulfill other specified conditions. * The account may be opened in individual capacity or jointly with spouse. TDS is deducted at source on interest if the interest amount is more than Rs 10,000/- per annum. * Investment up to Rs 1,00,000/- per annum qualifies for Income Tax Rebate under section 80C of IT Act. * Interest can be automatically credited to savings account provided both the accounts stand in the same post office. * Pr emature closure is allowed after one year on deduction of 1. 5% of the deposit and after 2 years on deduction of 1%. * No withdrawal permitted before the expiry of a period of 5 years from the date of opening of the account. * Non-resident Indians (NRIs) and Hindu Undivided Family (HUF) are not eligible to open an account.Saving Account Post office saving account is similar to a savings account in a bank. It is a safe instrument to park those funds, which you might need to liquidate fully or partially at very short notice. Post office savings accounts are especially suited for those living in rural and semi-rural areas where the reach of banks is very limited. Salient Features: * Rate of interest 4. 0% per annum * Minimum amount Rs 50/- in case of non-cheque account, Rs. 500/- in case of cheque account. * Maximum balance permissible is Rs 1,00,000/- in a single account and Rs 2,00,000/- in a joint account. Interest Tax Free. * Any individual can open an account. * Cheque facility av ailable. * Group Account, Institutional Account, other Accounts like Security Deposit account ; Official Capacity account are not permissible. Equity Indian Equity Market The Indian Equity Market is also the other name for Indian share market or Indian stock market. The forces of the market depend on monsoons, global fundings flowing into equities in the market and the performance of various companies. The Indian market of equities is transacted on the basis of two major stock indices, National Stock Exchange of India Ltd. NSE) and The Bombay Stock Exchange (BSE), the trading being carried on in a dematerialized form. The physical stocks are in liquid form and cannot be sold by the investors in any market. Two types of funds are there in the Indian Equity Market; Venture Capital Funds and Private Equity Funds. The equity indexes are correlated beyond the boundaries of different countries with their exposure to common calamities like monsoon which would affect both India and Banglade sh or trade integration policies and close connection with the foreign investors.From 1995 onwards, both in terms of trade integration and FIIs India has made an advance. All these have established a close relationship between the stock market indexes of India stock market and those of other countries. The Stock derivatives add up all futures and options on all individual stocks. This stock index derivative was found to have gone up from 12 % of NSE derivatives turnover in 2002 to 35 % in 2004. The Indian Equity Market also comprise of the Debt Market, dominated by primary dealers, banks and wholesale investors.Indian Equity Market at present is a lucrative field for the investors and investing in Indian stocks are profitable for not only the long and medium-term investors, but also the position traders, short-term swing traders and also very short term intra-day traders. In terms of market capitalization, there are over 2500 companies in the BSE chart list with the Reliance Industr ies Limited at the top. The SENSEX today has rose from 1000 levels to 8000 levels providing a profitable business to all those who had been investing in the Indian Equity Market.There are about 22 stock exchanges in India which regulates the market trends of different stocks. Generally the bigger companies are listed with the NSE and the BSE, but there is the OTCEI or the Over the Counter Exchange of India, which lists the medium and small sized companies. There is the SEBI or the Securities and Exchange Board of India which supervises the functioning of the stock markets in India. In the Indian market scenario, the large FMCG companies reached the top line with a double-digit growth, with their shares being attractive for investing in the Indian stock market.Such companies like the Tata Tea, Britannia, to name a few, have been providing a bustling business for the Indian share market. Other leading houses offering equally beneficial stocks for investing in Indian Equity Market, of the SENSEX chart are the two-wheeler and three-wheeler maker Bajaj Auto and second largest software exporter Infosys Technologies. Other than some restricted industries, foreign investment in general enjoys a majority share in the Indian Equity Market. Foreign Institutional Investors (FII) need to register themselves with the SEBI and the RBI for operating in Indian stock exchanges.In fact from the Indian stock market analysis it is known that in some specific industries foreigners can have even 100% shares. In the last few years with the facility of the Online Stock Market Trading in India, it has been very convenient for the FIIs to trade in the Indian stock market. From an analysis on the Indian Equity Market it can be said that the increase in the foreign investments over the years no doubt have accentuated the dynamism of the Indian market of equities. Foreign investors are allowed to buy Indian equity for the purpose of converting the equity into ADR or GDR.Thus, the growing f inancial capital markets of India being encouraged by domestic and foreign investments is becoming a profitable business more with each day. If all the economic parameters are unchanged Indian Equity Market will be conducive for the growth of private equities and this will lead to an overall improvement in the Indian economy. Insurance Insurance  is a form of  risk management  primarily used to  hedge  against the  risk  of a contingent,  uncertain  loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment.An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of  appraising  and controlling risk, has evolved as a discrete field of study and practice. The transaction involves t he insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss.The insured receives a  contract, called the  insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The business of Insurance essentially means defraying risks attached to any activity over time (including life) and sharing the risks between various entities, both persons and organizations. Insurance companies (ICs) are important players in financial markets as they collect and invest large amounts of premium. Insurance products are multipurpose and offer the following benefits: Protection to the investors * Accumulate savings * Channelize savings into sectors needing huge long term investments. Insurance involves  pooling  funds from  many  insured entities (known as exposures) to pay for the losses that some may incur. The insured entities are therefore protected from risk for a fee, with the fee being dependent upon the frequency and severity of the event occurring. In order to be insurable, the risk insured against must meet certain characteristics in order to be an  insurable risk.Insurance is a commercial enterprise and a major part of the financial services industry, but individual entities can also  self-insure  through saving money for possible future losses. Insurability Risk which can be insured by private companies typically share seven common characteristics: 1. Large number of similar exposure units: Since insurance operates through pooling resources, the majority of insurance policies are provided for individual members of large classes, allowing insurers to benefit from the  law of large numbers  in which predicted losses are similar to the actual losses.Exceptions include  Lloyd's of London, which is famous for insuring the life or hea lth of actors, sports figures and other famous individuals. However, all exposures will have particular differences, which may lead to different premium rates. 2. Definite loss: The loss takes place at a known time, in a known place, and from a known cause. The classic example is death of an insured person on a life insurance policy. Fire,  automobile accidents, and worker injuries may all easily meet this criterion. Other types of losses may only be definite in theory.Occupational disease, for instance, may involve prolonged exposure to injurious conditions where no specific time, place or cause is identifiable. Ideally, the time, place and cause of a loss should be clear enough that a reasonable person, with sufficient information, could objectively verify all three elements. 3. Accidental loss: The event that constitutes the trigger of a claim should be fortuitous, or at least outside the control of the beneficiary of the insurance. The loss should be pure, in the sense that it results from an event for which there is only the opportunity for cost.Events that contain speculative elements, such as ordinary business risks or even purchasing a lottery ticket, are generally not considered insurable. 4. Large loss: The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses, plus the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims. For small losses these latter costs may be several times the size of the expected cost of losses.There is hardly any point in paying such costs unless the protection offered has real value to a buyer. 5. Affordable premium: If the likelihood of an insured event is so high, or the cost of the event so large, that the resulting premium is large relative to the amount of protection offered, it is not likely that the insurance will be purchase d, even if on offer. Further, as the accounting profession formally recognizes in financial accounting standards, the premium cannot be so large that there is not a reasonable chance of a significant loss to the insurer.If there is no such chance of loss, the transaction may have the form of insurance, but not the substance. 6. Calculable loss: There are two elements that must be at least estimable, if not formally calculable: the probability of loss, and the attendant cost. Probability of loss is generally an empirical exercise, while cost has more to do with the ability of a reasonable person in possession of a copy of the insurance policy and a proof of loss associated with a claim presented under that policy to make a reasonably definite and objective evaluation of the amount of the loss recoverable as a result of the claim. . Limited risk of catastrophically large losses: Insurable losses are ideally  independent  and non-catastrophic, meaning that the losses do not happen all at once and individual losses are not severe enough to bankrupt the insurer; insurers may prefer to limit their exposure to a loss from a single event to some small portion of their capital base. Capital  constrains insurers' ability to sell  earthquake insurance  as well as wind insurance in  hurricane  zones. In the US,  flood risk  is insured by the federal government.In commercial fire insurance it is possible to find single properties whose total exposed value is well in excess of any individual insurer's capital constraint. Such properties are generally shared among several insurers, or are insured by a single insurer who syndicates the risk into the  reinsurance  market. Legal When a company insures an individual entity, there are basic legal requirements. Several commonly cited legal principles of insurance include: 1. Indemnity  Ã¢â‚¬â€œ the insurance company indemnifies, or compensates, the insured in the case of certain losses only up to the insure d's interest. . Insurable interest  Ã¢â‚¬â€œ the insured typically must directly suffer from the loss. Insurable interest must exist whether property insurance or insurance on a person is involved. The concept requires that the insured have a â€Å"stake† in the loss or damage to the life or property insured. What that â€Å"stake† is will be determined by the kind of insurance involved and the nature of the property ownership or relationship between the persons. 3. Utmost good faith  Ã¢â‚¬â€œ the insured and the insurer are bound by a  good faith  bond of honesty and fairness. Material facts must be disclosed. 4.Contribution – insurers which have similar obligations to the insured contribute in the indemnification, according to some method. 5. Subrogation – the insurance company acquires legal rights to pursue recoveries on behalf of the insured; for example, the insurer may sue those liable for insured's loss. 6. Causa proxima, or proximate caus e – the cause of loss (the peril) must be covered under the insuring agreement of the policy, and the dominant cause must not be  excluded 7. Mitigation – In case of any loss or casualty, the asset owner must attempt to keep the loss to a minimum, as if the asset was not insured.Indemnification To â€Å"indemnify† means to make whole again, or to be reinstated to the position that one was in, to the extent possible, prior to the happening of a specified event or peril. Accordingly,  life insuranceis generally not considered to be indemnity insurance, but rather â€Å"contingent† insurance (i. e. , a claim arises on the occurrence of a specified event). There are generally two types of insurance contracts that seek to indemnify an insured: 1. an â€Å"indemnity† policy, and 2. a â€Å"pay on behalf† or â€Å"on behalf of†Ã‚  policy. The difference is significant on paper, but rarely material in practice.An â€Å"indemnity† p olicy will never pay claims until the insured has paid out of pocket to some third party; for example, a visitor to your home slips on a floor that you left wet and sues you for $10,000 and wins. Under an â€Å"indemnity† policy the homeowner would have to come up with the $10,000 to pay for the visitor's fall and then would be â€Å"indemnified† by the insurance carrier for the out of pocket costs (the $10,000). [4][5] Under the same situation, a â€Å"pay on behalf† policy, the insurance carrier would pay the claim and the insured (the homeowner in the above example) would not be out of pocket for anything.Most modern liability insurance is written on the basis of â€Å"pay on behalf† language. An entity seeking to transfer risk (an individual, corporation, or association of any type, etc. ) becomes the ‘insured' party once risk is assumed by an ‘insurer', the insuring party, by means of a contract, called an  insurance policy. Generally, an insurance contract includes, at a minimum, the following elements: identification of participating parties (the insurer, the insured, the beneficiaries), the premium, the period of coverage, the particular loss event covered, the amount of coverage (i. . , the amount to be paid to the insured or beneficiary in the event of a loss), and exclusions  (events not covered). An insured is thus said to be â€Å"indemnified† against the loss covered in the policy. When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a claim against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the premium.Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims — in theory for a relatively few claimants — and for  overhead  costs. So long as an insurer maintains adequate funds set aside for anticipated losses (called reserves), the remaining margin is an insurer's  profit. Types of Insurances * Life Insurance * General Insurance Life Insurance Life insurance  is a contract between an  insurance policy holder  and an  insurer, where the insurer promises to pay a designated  beneficiary sum of money (the â€Å"benefits†) upon the death of the insured person.Depending on the contract, other events such as  terminal illness  or critical illness  may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses (such as funeral expenses) are also sometimes included in the benefits. The advantage for the policy owner is â€Å"peace of mind†, in knowing that the death of the insured person will not result in financial hardship for loved ones and lenders. Life policies are legal contracts and the terms of the contract describe the limitations of the insured events.Specific exclusion s are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot and civil commotion. Life-based contracts tend to fall into two major categories: * Protection  policies – designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance. * Investment  policies – where the main objective is to facilitate the growth of capital by regular or single premiums.Common forms (in the US) are  whole life,  universal life  and  variable life policies. General Insurance General insurance  or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance typically comprises any insurance that is not determined to be  life insurance. It is called  property  and casualty  insurance  in the  U. S. and  Non -Life Insurance  in Continental Europe. Commercial lines  products are usually designed for relatively small legal entities.These would include workers' comp (employers liability), public liability, product liability, commercial fleet and other general insurance products sold in a relatively standard fashion to many organisations. There are many companies that supply comprehensive commercial insurance packages for a wide range of different industries, including shops, restaurants and hotels. Personal lines  products are designed to be sold in large quantities. This would include  autos  (private car),  homeowners  (household), pet insurance, creditor insurance and others. ACORD  which is the insurance industry global standards organisation.ACORD has standards for personal and commercial lines and has been working with the Australian General Insurers to develop those XML standards, standard applications for insurance, and certificates of currency. PORTFOLIO MANAGEMENT A good way to begin understanding what portfolio management is (and is not) may be to define the term  portfolio. In a business context, we can look to the mutual fund industry to explain the term's origins. Morgan Stanley's  Dictionary of Financial Terms  offers the following explanation: If you own more than one security, you have an investment portfolio.You build the portfolio by buying additional stocks, bonds, mutual funds, or other investments. Your goal is to increase the portfolio's value by selecting investments that you believe will go up in price. According to modern portfolio theory, you can reduce your investment risk by creating a diversified portfolio that includes enough different types, or classes, of securities so that at least some of them may produce strong returns in any economic climate. Note that this explanation contains a number of important ideas: * A portfolio contains many investment vehicles. Owning a portfolio involves making choices — tha t is, deciding what additional stocks, bonds, or other financial instruments to buy; when to buy; what and when to sell; and so forth. Making such decisions is a form of management. * The management of a portfolio is goal-driven. For an investment portfolio, the specific goal is to increase the value. * Managing a portfolio involves inherent risks. Objectives of Portfolio Management:- The objective of  portfolio management  is to invest in securities is securities in such a way that one maximizes one’s returns and minimizes risks in order to achieve one’s investment objective.A good  portfolio  should have multiple objectives and achieve a sound balance among them. Any one objective should not be given undue importance at the cost of others. Presented below are some important objectives of portfolio management. 1. Stable Current Return: – Once investment safety is guaranteed, the portfolio should yield a steady current income. The current returns should at least match the opportunity cost of the funds of the investor. What we are referring to here current income by way of interest of dividends, not capital gains. 2. Marketability: –A good portfolio consists of investment, which can be marketed without difficulty. If there are too many unlisted or inactive shares in your portfolio, you will face problems in encasing them, and switching from one investment to another. It is desirable to invest in companies listed on major stock exchanges, which are actively traded. 3. Tax Planning: – Since taxation is an important variable in total planning, a good portfolio should enable its owner to enjoy a favorable tax shelter. The portfolio should be developed considering not only income tax, but capital gains tax, and gift tax, as well.What a good portfolio aims at is tax planning, not tax evasion or tax avoidance. 4. Appreciation in the value of capital: A good portfolio should appreciate in value in order to protect the investor from any erosion in purchasing power due to inflation. In other words, a balanced portfolio must consist of certain investments, which tend to appreciate in real value after adjusting for inflation. 5. Liquidity: The portfolio should ensure that there are enough funds available at short notice to take care of the investor’s liquidity requirements.It is desirable to keep a line of credit from a bank for use in case it becomes necessary to participate in right issues, or for any other personal needs. 6. Safety of the investment: The first important objective of a portfolio, no matter who owns it, is to ensure that the investment is absolutely safe. Other considerations like income, growth, etc. , only come into the picture after the safety of your investment is ensured. Investment safety or minimization of risks is one of the important objectives of portfolio management.There are many types of risks, which are associated with investment in equity stocks, including super stocks . Bear in mind that there is no such thing as a zero risk investment. More over, relatively low risk i