Case Sharp Printing Essay

Three years ago the Sharp Printing (SP) strategic management group set a goal of having a color laser printer available for the consumer and small business market for less than $200. A few months later the senior management met off-site to discuss the new product. The results of this meeting were a set of general technical specifications along with major deliverables, a product launch date, and a cost estimate based on prior experience. Shortly afterward, a meeting was arranged for middle management explaining the project goals, major responsibilities, the project start date, and importance of meeting the product launch date within the cost estimate. Members of all departments involved attended the meeting. Excitement was high. Although everyone saw the risks as high, the promised rewards for the company and the personnel were emblazoned in their minds. A few participants questioned the legitimacy of the project duration and cost estimates. A couple of R&D people were worried about the technology required to produce the high-quality product for less than $200. But given the excitement of the moment, everyone agreed the project was worth doing and doable. The color laser printer project was to have the highest project priority in the company. Lauren was selected to be the project manager. She had 15 years of experience in printer design and manufacture, which included successful management of several projects related to printers for commercial markets. Since she was one of those uncomfortable with the project cost and time estimates, she felt getting good bottom-up time and cost estimates for the deliverables was her first concern. She quickly had a meeting with the significant stakeholders to create a WBS identifying the work packages and organizational unit responsible for implementing the work packages. Lauren stressed she wanted time and cost estimates from those who would do the work or were the most knowledgeable, if possible. Getting estimates from more than one source was encouraged. Estimates were due in two weeks. The compiled estimates were placed in the WBS/OBS. The corresponding cost estimate seemed to be in error. The cost estimate was $1,250,000 over the senior management estimate; this represents about a 20 percent overrun! The time estimate from the developed project network was only four months over the top management time estimate. Another meeting was scheduled with the significant stakeholders to check the estimates and to brainstorm for alternative solutions; the cost and time estimates appeared to be reasonable. Some of the suggestions for the brainstorming session are listed below.

Initiation Planning Executing Monitor & Control Closing Essay

ProXalt@ Student RecallSheetO Project Management Process Groups Initiation Planning Executing Monitor & Control Closing Based on the Feasibility Study conducted and using Project Selection Methods, the project selection committee selects a project. The client Develops Project Charter, Preliminary Scope Statement and the sponsor approves the project charter Based on Project Charter and Preliminary Scope statement, the project team conducts all planning activities and Develops the Project Management Plan Project team involves in Planning and Defining the Scope of the project and Creates WBS Using WBS items, the team Defines project Activities, places them in a Sequence, Estimates Duration and Resources needed and develops a Project Schedule Estimate Cost and allocate that Cost to work packages (Cost Budgeting) Plan Quality standards for the project Create Human Resource Plan Come up with Communications Management Plan Create a Risk Management Plan and Identify all Risks. Analyze them Qualitatively, Quantitatively and come up with Risk Response Plan Plan on how to Acquire goods nd services from outside the organization and Plan on Contracting Direct and Manage Project Execution to ensure that all the planned packages have been executed Perform Quality Assurance to assure that the project team followed quality standards Acquire Project Team members from functional managers

The Basics of Keynes's Monetary Theory Essay Example | Topics and Well Written Essays - 1000 words

The Basics of Keynes's Monetary Theory - Essay Example Keynes cautioned against free market systems as he pointed it out to be the cause of an unexpected rampant increase in unemployment rates. As Keynes differed with the classical perspective of economists on employment he keenly explained that employees were interested in the nominal wage rather than a real wage. Keynes further describes how employees respond to the levels of unemployment based on prices of wages in terms of frictional, seasonal and voluntary unemployment. Keynes biggest contribution is based on the money illusion by workers that lead to involuntary unemployment. In addition, Keynes came up with the liquidity preference theory of interest rates that focuses on the uses of money in differences classes. This is because money could be held for transaction motive as an individual wish to make normal purchases besides money for a precautionary motive that is for unforeseen incidences and money for a speculative motive of investments to get returns. In addition, the governme nt can control the amount of money borrowed from financial institutions by increasing the interest rate during periods of high inflation. Both the New Keynesian economists and New Classical economists have made contributions to the field of economics in the twentieth century. As a group opposed to the Keynes theory perspective, the new classical group of differs as they point out that Keynes did underestimate the impact of the quantity of money on aggregate demand and prices in the economy. In addition, the new classical economists argue a different notion on unemployment and inflation (Meltzer, 2005). This is because they advocate for a stable inflation-unemployment trade-off through the Phillips curve that involves the assumption of changes in the price level in the private sector freely. In addition, this class of economists conceptualized that the expectations-augmented in the Phillips curve could reduce the unemployment rate to a further extent below its natural level leading t o higher levels inflation in the long run (Meltzer, 2005). The new classical economists differ with the Keynes economists as they believe both monetary and fiscal policy lead to increased inflation rates because of the response of suppliers to the economic market. Based on the classical assumption on flexible prices a consecutive increase in aggregate demand automatically leads to higher prices; that cause unexpected shift as suppliers will increase production to take advantage of increased relative prices. The New Keynesian economists are based on the theory contributions made by Keynes as they believe that in the economy the nominal variables can affect real variables and understanding of market imperfections in the economy. This new group of Keynes economists believes that imperfect competition will solve several problems that deal with wages and prices levels thus, reducing the possibility of involuntary unemployment (Meltzer, 2005). This new class of Keynes economists believes that the welfare of the citizen is in increasing output and employment. Therefore, this class of economists believes that both monetary and fiscal policy allows for changes in price levels as it affects both the demand and supply.

Econometrics Speech or Presentation Example | Topics and Well Written Essays - 2750 words

Econometrics - Speech or Presentation Example The coefficient estimate (ÃŽ ²2 = 0.37) suggests that there will be 37% increase in growth if the geographical location of a nation goes up by at least one units. Negative coefficients such as ÃŽ ²3 being -0.62 suggest a decrease in growth by 62% if we increase countries residing in Asia to the model by 1 unit. On a similar note, ÃŽ ²4 of -1.00 suggests a decrease in growth by 100% if we increase the number of countries residing in Africa by one unit. Finally, and ÃŽ ²5 of -0.25 suggests that there will be a decrease, of up to 25%, income per capita if we increase countries residing in other parts of the world. The current model, as it is in the equation, cannot bring out the different effect on income per capita that is brought about by variable DAfrica,i and DOther,i. this because the independent variables DAsia, and Dother, will automatically be correlated as Asia is part of the rest of the world. Therefore, we will have two variable that describe a similar effect on growth. A fall by up to 62 percent is realized as a result of a decline of one unit on the income per capita of the Asian countries. Conversely, the income per capita will decline by up to 100 percent if there is an increase of a single unit on the countries in Africa. Intrinsically, there is a foresighted mean drop on the income per capita of 48 percent in the two continents. Adopting raw score instead of absolute score will cause the estimate of Lati smaller than that of Ri. This is from the fact that the two independent variables employing dissimilar measuring units. There will be a reduction of the second model for the R2 and standard error. and that heteroscedasticity was a concern in model 1 in table 1, then model 1 would not have a constant error variance. As such, to test whether heteroscedasticity is present in model 1 (table 1) or not, the test hypothesis would be such

Teacher and Student Mindsets Essay Example | Topics and Well Written Essays - 250 words

Teacher and Student Mindsets - Essay Example since I had more knowledge about the African people and their culture since my parents and I had made several trips to Africa thus I was more phased about this topic and found it more interesting to share my knowledge with the rest of the students. However, I also encountered my negative experience a certain time when we were learning some mathematical concepts. It was quite disheartening since the rest of the class had some prior knowledge concerning the topic, and I was the only one who was struggling to comprehend but in vain. It was a discouraging moment since I felt inferior before my classmates for having little knowledge of the concepts that we were being taught since I would not comprehend them with ease (Cash, 2011). Given the experiences that I have undergone in life in pursuit of education I will be keen to create an enabling environment that will encourage students to learn freely without fear or ridicule. This will be implemented through the establishment of a free system of learning whereby no students is discouraged or made to feel inferior to the rest. All students will be motivated to participate in the learning process freely irrespective of the weaknesses that some will possess. This will encourage a spirit where everyone is appreciated and the input of every student counts whether it is relevant or not just to encourage the weak students to feel path of the group and to prevent them from feeling inferior. Some students may tend to feel more intellectually superior that the rest and develop a tendency of bullying the rest knowledge wise. I will initiate a system that enhances equality among the students which will be aimed at levelling the ground for each and every student to ensure no one feels intimidated by the rest in terms of the level of knowledge or the skills they possess (Ricci,

Advertisement Essay Example | Topics and Well Written Essays - 250 words

Advertisement - Essay Example Nevertheless, the brilliant thing about advertising is that it works on a subconscious level, this means that one may think the advertisement has had no effect on them but the message conveyed through the advertisement instills in the brain without notice. Examples of this type of advertising include the coca cola advert of someone drinking coca cola in the middle of the desert, which induces the connection between coca cola and thirst in one’s mind. Moreover, people are generally attracted to new things, as the common saying says, â€Å"the new is always better than the old†. Customers in many ways follow this saying in that anyone who sees a new brand or version advertised; they are keen to try it. For example, even if one is happy with their current brand of toothpaste and they come across a new version of it that promotes their whiter teeth, one will be keen to try it even if it is just to disprove

Critical Analysis two Prescribed Journal Articles Essay

Critical Analysis two Prescribed Journal Articles - Essay Example d social norms, or simply because these individuals cannot reach a win-win consensus and one among the conflicting party feels that their needs are being targeted for criticism. This article covers virtually every dimension of conflict, giving it more reliability. The article also involves different aspects of psychology, such as emotional outcomes or using various hostile actions to project one’s emotions on another and, generally, conflict requires a negotiation style in order to resolve it. It also involves sociological elements such as cultural values and how one within the organisation related to cultural symbols and diversity. A secondary article, â€Å"Intraprofessional relations in nursing† describes a primary methodology as an explanatory research case study that measured nurses’ interactions in three different wards of a real-time hospital environment. It describes a rigorous data collection effort and then proposes the consequences of multiple, complex interactions between nurses and their emotional responses to these conflict scenarios. It offers various findings about the nurses involved in the study and how they balance their emotional responses to perceived or actual conflict that occurs in everyday nursing practice. The article entitled â€Å"Conflict within nursing work environments: concept analysis† by J. Almost describes a secondary research effort to uncover the causes of conflict, rather than attempting to use different conflict management theory to come up with a working solution to problems in the nursing workplace. Therefore, it is somewhat exploratory in nature, though through the use of secondary research sources. The target audience for this paper is generally the practicing nurse, any clinical administration team, and the management systems that govern the nursing work environment. It is not aimed at the general public. In its literature review, it describes the idea of concept analysis, using different supporting literature to

Rectifying Issues in Corrections Essay Example | Topics and Well Written Essays - 1000 words

Rectifying Issues in Corrections - Essay Example Among the most influential methods of reducing prison overcrowding, include developing community-based alternatives to incarceration as means of reducing the prison population and reviewing the prison designs (Salins & Simpson, 2013). John Howard, 200 years ago while writing about prison reforms at that time-expressed concern for the destructive effects of such poor conditions on inmates. While in many ways prison conditions have considerably improved, some of the problems that were faced in the past are still present in the current correctional systems. Overcrowding has continued to haunt United States jail and prison as the pressures of an increasing inmate population affected the correctional facilities, coupled with the corrections cost for lower demands, have resulted in living space for inmates growing shortage. Not only do institutions exceed capacity but they also operate at maximum. Inmates are increasingly forced into living in open dormitories and single cells double-bunki ng (James, 2013). Effects of overcrowding studies on inmates have meant describing and defining what crowding basic effects can have on humans, with most of the done research concentrating mostly on social density and spatial density of crowding. The definition of spatial density is viewed as the amount of space in a particular housing unit available per person. On the other hand, the definition of social density is described as the factor, which contributes most to the adverse effects of crowding and number of individuals sharing a housing unit. Total effects of crowding, however cannot be explained by just density alone, researchers like physical environment and personal control have found other factors that heighten or lessen the density impact (James, 2013). Addressing Overcrowding Many corrections researchers and officials agree it is not realistic to solve and expect the overcrowding problem solely through constructing newer and more facilities. In the United States, an increa sed focuses on the reduction of the correctional facilities population, whether in the future or currently with alternatives to incarceration, such as intermediate sanctions and community supervision that range from fines to parole release has been noted. However, this has proved to be a challenging and more complex route than that of corrections facilities redesigning the physical environments. An example of this implementation in the Canadian correctional services shows that to correct the overcrowding, they have established five strategic corporate objectives to implement a strategy for community supervision, to develop differential standards that will enable community case workers to focus greater attention on high-risk offenders. Other objectives include continuing effective population management, developing policies that will allow more low-risk offenders to be released at their earliest parole eligibility date and develop better policies with regard to those individuals ident ified as good parole risks (Johnson & Johnson, 2012). To the overcrowding issue, researchers in the United States have explored alternative responses and called into question some of the assumptions about the reasons for correctional overcrowding and the effectiveness of community-based alternatives to i

Understanding of culture and cultural differences as fundamental for Essay

Understanding of culture and cultural differences as fundamental for international marketing - Essay Example The researcher states that culture and cultural differences has not only impacted on the effectiveness of firms with respect to international competitiveness, but has also progressively generated negative effects regarding efficient usage of international marketing resources. Success of international firms is basically dependent on their international marketing strategies that incorporate cross-cultural intelligence aspects. Moreover, international marketing professionals continuously seek to understand global cultures and cultural differences that exist in the international specific markets ventured. Understanding cultural variations that exists among customers and target markets is important for developing an international marketing strategy that is universal and covers all customer needs. Application and outcome of professional marketing largely depends on the extent to which cultural differences are evident among customers. Firm’s competitiveness in the international marke t recognizes cross-cultural factors as determining factors with which comprehensive information is gathered from the various markets to enable formulation of best marketing strategies. Generally, cross-cultural analysis in the international market is similar to domestic market analysis, although international analysis places much emphasis on cultural aspects due to cross border cultural variations. However, domestic markets have also continued to diversify their cultures although as much as the international markets. ... However, domestic markets have also continued to diversify their cultures although as much as the international markets. Political, cultural, and social barriers and variation in the international markets have remained significant challenges to multinational companies that fail to recognize variations, and thus need for different business strategies. Nevertheless, international marketing strategies are more complex and sophisticated with respect to cross border variations as compared to domestic marketing strategies (Rugimbana & Nwankwo, 2003, p.331). International marketing recognizes a variety of cultural aspects that define one country’s culture from the other. Culture is defined and differentiated by technologies with regards to timing, moving, storing, analyzing, and producing information, as well as motives, accuracy, types, timeliness of data collection, language barriers, ethical standards, and attitudes of individuals collecting information. Different clients from dif ferent cultures seek to satisfy similar needs in different ways, which constitute cultures and common practice. Marketing professionals need to devise marketing strategies and products that are not biased to a particular culture, and are able to cover all cultural needs in question. Through research and information analysis, marketing professionals are able to understand the different needs of their customers with regards to their cultural variations. Cross-cultural analysis is carried out by relevant marketing professionals on the target markets of the firms they work for. International marketers seek to analyze particular cultures and the differences pertaining to their marketing strategies using relevant models of study and analysis. Here, cross-cultural research models used by

Republican demise Essay Example for Free

Republican demise Essay Saddam is fairly sure about his future at the end of this one-sided trial in Baghdad. He would most likely meet an end rightly deserved by a cruel perpetrator against humanity. None of us is immune to fear, pain and loss. But to suffer the fate of an uncertain future could be worse than any of these feelings. From this point of view, George Bush, assured of Republican demise, Tony Blair, assured of his exit and Saddam Hussein, are all on the same boat; certain of their fate. The biggest sufferers of the war in Iraq, are no doubt the Iraqis, suffering the most gruesome bloodshed that mankind has witnessed in recent times. To classify the next category of sufferers are the people who follow Islam. Iraq war has resulted in stereotyping the collaborators and extremists and has led Muslims in the Middle East to feel that it’s a war against their community. Due to the cascading effect that travels in communities and religions, the Muslims in most of the other countries also share this view. Unfortunately, the inability to locate the so-called â€Å"weapons of mass destruction† has also cast a serious doubt on the intentions of USA and UK in the minds of millions residing in their own countries. Now, many of us can relate to the uncertainty sneaking in the minds of people who had to commute on the morning of 8th July 2005 or 12th September 2001. Our government has done its best to gift unscathed tentativeness to British citizens. To foresee a natural calamity is definitely not expected from our leaders. But to invent a manmade catastrophe is also not what we deserve. In order to be socially responsible and contribute in preserving human rights, Britain has to contribute in the current World order. We cannot ignore the atrocities inflicted on mankind especially when we have the capacity to affect the situation. However, to bully a bully is also not a sensible stance. Let us analyze the pretext of going into this war as claimed in a dossier presented in the British parliament on 24th September 2002. The central points of Blair’s defense for offense were Iraqi regime’s program to develop nuclear, biological, chemical weapons of mass destruction. Aiding, funding and supporting groups like Al Qaida by this regime. He argued that Saddam has brutalized his own people using chemical warfare, so far the only blame that could be substantiated after dethroning the dictator. After explaining the threat posed to the region by the Iraqi regime, he lamented I am quite clear that Saddam will go to extreme lengths, indeed has already done so, to hide these weapons and avoid giving them up. Where are those weapons of mass destruction now? Another losing battle is on the economic front. It is clear that the total cost of operations in Iraq is quickly exceeding previous estimates, and is now well over the ? 3 billion originally set aside by the Chancellor to fund the conflict. Rough estimates suggest that as much as an extra ? 1 billion will be required for each further year UK forces remain in Iraq. Perhaps as important as the rising costs themselves is the lack of transparency about where the money is going, and how much more will be needed in the future. The Iraq Analysis Group calls on the future government to clarify the costs of war in terms of size and expenditure type, and how they are being met. In the meantime, we will update this briefing as further information becomes available. It seems that the British government had detailed plans of â€Å"how to go in? † but never planned or foresaw on â€Å"how and when to come out? † Reluctantly enough, people of Great Britain stood by their elected leaders and the choices they made at the time of going into this war. The imminent dangers painted on our minds with repetitive citations on terror, terrorist attacks, axis of evil, tyrannical regime etc, were potent enough for us to believe that we are going to fight for peace. (Oliver King and Paul Hamilos, 2006). The UN was shoved aside, French, German and Russian representatives were simply ignored. Ironically, these nations are geographically and diplomatically a lot close to United Kingdom than Iraq. Somehow, British decision to act as the drum beater for this war, has also led the world to believe that commitment of our conscience is mortgaged to the USA. With his efforts, Blair successfully blurred the identity of our nation. Most of the media in the Middle East now cite UK and USA in the same breath, especially in context of the Iraq war. USA had suffered an indelible blow on 9/11. And we suffered a seemingly low scale trailer on 7/7, primarily due our policies on Iraq. A common view point held by world leaders is that the use of force can never be justified unless all other means of negotiation fail. UN inspectors on Iraq’s weapon program had certainly failed in their job as they were neither supported nor shown any cooperation by the Iraqi regime. The report from the chief UN inspector fortified the rhetoric from George Bush who went to label Saddam’s tactics as a charade. (George Bush, 2003). In such circumstances and in those times when most of the nations were made to believe that what’s going on in Iraq is dangerous for humanity, use of armed action certainly seemed feasible. A dictator, who could kill his own people, can very well drop a bomb on neighboring countries. The dangers and ease of spreading Anthrax as a biological weapon could not be taken as anything less than a grave concern. Just one push of a button could have caused irreparable and unrecoverable destruction. Faced with such a situation, UK’s stance on supporting USA is acceptable. To wait for Saddam to light a fuse for such havoc would have reduced most of the world leaders to a laughing stock, only if few of them would survive to be mocked at. Pre-emptive strike, as popularized by the US media, earns a lot of credibility in this context. Britain, or as a matter of fact any other nation, would react with utter might in order to prevent this. And if the countries surrounding Iraq are themselves grasping for survival and development, the onus does fall on developed nations to resolve the stalemate. Negotiations since 1995 were not bearing any fruits other than letting Saddam to build a black economy of earning billions despite the sanctions imposed on Iraq. Worse, none of this money was used to feed the destitute or mitigating infant mortality. The dictator had built water-tight ways of siphoning money into his personal accounts. The discovery of vast amounts of money being utilized without any tab raised suspicions in the minds of the majority. This surely was a reason valid enough to strike. And there is evidence that Saddam utilized all these years to fool the international community. It will also be not entirely fair to say that Blair did not weigh the situation at all We waited 12 years and then went through the United Nations. It is now three months since we gave Saddam what we called a final opportunity. (BBC News, 2003)

Walmart the functions of an organisation Marketing Essay

Walmart the functions of an organisation Marketing Essay Marketing is one the functions of an organisation that most connects an organisation to its environment. It maintains relations with the customers. It also involves satisfying needs of the customers. It incorporates hoe a business should be conducted and a set of values and processes that are put into practice(Naylor, 2004, p.525). According to Kotler Marketing can be defined as a nodal and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others (Kotler et al., 1999, p.10).The key ideas in this definition are needs, wants and demands, value and satisfaction, exchange, transactions and relationships and markets. The American marketing association defines marketing as a process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create changes that satisfy individual and organisational goals (Kotler, 2002, p.4). There are numerous theories t hat are part of marketing as a subject. This essay aims at identifying the key concepts of marketing and how are these concepts can be studied and applied to a functioning of an organisation which is Walmart in this case. Walmart is an American public corporation that operates a chain of large discount department stores and a chain of warehouse stores.. The company was founded by Sam Walton in 1962. It is publically traded on New York Stock Exchange. The company is the largest private employer with approximately 2.1 million employees. It operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom and, through a joint venture, in India. Walmart became an international company in 1991 when it opened its first Sams Club near Mexico City. Two major concepts of marketing are the market orientation a firm has and the marketing mix it follows. Wal-Mart has its own market orientation and a marketing mix that it has adopted. Market orientation is an approach that a business has to run its operations and achieve its organisational objectives. These are the different ways that a business approaches its customers and determines how an organisation carries out its marketing activities. They guide the marketing efforts of an organisation. The different marketing orientations are as follows: 1.Production: Production oriented firm focuses on large scale production of goods that can be made widely available. It also focuses on efficiency issues. There is little focus on customer needs and their wants. It is based on the Says law which says Supply creates its own demand. 2.Product: A product oriented firm focuses on the quality and features of the product. It assumes that the customers want the best quality products for their money. Continuous improvement and refinement of products is also a very important factor. 3.Selling : In this market orientation the main focus is on selling and promotion of the products. It is assumed that good marketing efforts will persuade enough customers to buy the product. It tends to ignore what the customers really want or need. 4.Marketing : It is an approach which keeps customers at the centre. It involves doing a market research and identifying the needs of the consumers and thus making products that satisfy the consumer needs in the best and most efficient way. It is assumed that identifying the customer needs gives a firm a sustainable competitive advantage. 5. Socially Responsible Marketing: It involves responding to the ethical issues in a society. It is related to the corporate social responsibility of a business. It informs consumers of the various contributions that the business is making towards the society and makes a good image of the business as a whole. Different businesses have different market orientations. The two most important aspects of Wal-Marts market orientation are product and market. Wal-Mart offers a huge variety of products. Their aim is to satisfy almost every possible need that might arise. Wal-Mart is not a store for people from a specific age group or income group. In fact it serves people from every age group and income level. Wal-Mart also works with its suppliers and uses a testing laboratory called a consumers testing lab. It runs test on food items, clothing ,electronics etc. By doing this it ensures that the goods it delivers to its customers are of highest quality. The second aspect of its market orientation is Marketing. Wal-Mart uses detailed market research and customer segmentation to better deliver against the customer needs. Wal-Marts ability to recognise changes in the retailing industry has given it a huge advantage over its competitors. This has only been possible because of the intensive market research it undertakes before making any strategic decision. Before making any promotional strategy they measure the return on investment. They evaluate everything such as how many customers will see the advertisement, how many will react to it, how many will actually buy the product. They have huge customer data and sales data. They even share the sales data with their suppliers in order to keep the most popular items stocked and to persuade its suppliers to supply goods which are most popular among the consumers. So it changes itself according to the customer needs and sell products which customers want and not what it has to sell. It also pr omotes relationship marketing and uses one to one relationship marketing tactics. For e.g. a person greeted every customer who came in and said goodbye to each person who left. Wal-Mart has always closely observed its market using different research methods and has always successfully anticipated the change in consumer tastes and preferences and changed itself accordingly so it always keeps its customers at the centre. Another important theory of marketing management is the marketing mix. Marketing mix is the set of marketing tools that a firm uses to achieve its marketing objectives in a specific target market. The tools can be classified into four categories namely Price, Place Promotion and Product and are referred to as the 4 Ps. Price and advertising costs etc. can be altered in the short run but elements such as product and the distribution channel can only be changed in the long run. .( Kotler, 2002, p.9 )These variables affect the level of demand for a firms products. It is a combination of these tools that are used to satisfy consumer and company objectives. The four variables can be explained as follows: 1. Price: Price is an important factor in the marketing mix when the products are not bad. People want to use money thoughtfully and want maximum utility out of their income. Discounts, allowances, payment terms and credit are some of the tools used to attract customers. 2.Product: Product is the top priority in the marketing mix. Some of the strategies that firms may use are quality, design , features, packaging and warranties etc. Using these tools a company can differentiate its products from its competitors. 3.Place: The place element is becoming more important these days. Big retailers make it more convenient for people to buy everything. Locations, inventory and transport etc are areas that are important for a business. 4.Promotion: People should know about the products of a company. Effective way to advertise the products necessary. Sales promotion, sales force ,direct marketing and public relations are some examples that come under promotion aspect of the marketing mix. We can relate these 4 Ps with different strategies that Wal-Mart adopts. Price is the most important factor for Wal-Marts marketing mix and is the winning formula for the company. The company has build an image over the years that its name has become a synonym to low prices. The mission of the company is to provide cheapest prices in the market. It is because of its such low prices that it has been able to serve and fulfil the needs of millions of customers. Wal-Mart has the best and the most convenient store locations which its competitors find difficult to beat. This is due to the extensive market research it does before expanding into a new area. Also the stores are strategically located to gain efficiency in storage and transportation of its goods. However the company has saturated the local markets and now has plans to extend its operations in many foreign countries. As Wal-Mart offers variety of products for every segment of the market it ensures that its customers get the high est quality products. Some products are sold under its own brand whereas some other from other companies. Wal-Mart often comes up with packaging techniques that help reduce the cost of the goods sold. Now the company is trying to attract more affluent customers by launching new Metro 7 Stalls which offer jewellery and other expensive items in 1500 different stores. (source: http://walmartstores.com/pressroom/news/5721.aspx). Coming to promotion the most notable strategy that the company uses is public relations by taking parts in charitable events. It started health plans starting from $23 and also advertised itself as the largest employer. All these strategies have helped Wal-Mart emerge as the market leader in the retail sector and the key factors being low prices, more customer service and constant innovation in the business.

Dont Worry You Can Be Happy, by John B. Thomas :: Happiness Essays

What's it going to take? David Myers says in the article 'Don't Worry You Can Be Happy'; by John B. Thomas. 'Happiness relies largely on things unrelated to money, such as meaningful activities and enriching relationships.'; With that the article states that with the following ten steps you can improve your happiness. One: learn to like your self. Two: take control of your destiny. Three: practice expecting the best. Four: become more extroverted. Five: try acting happy. Six: consider new work. Seven: Sleep, sleep, sleep. Eight: Foster close relationships. Nine: Tie the knot. Ten: have faith. So with all of the ten steps you can see that with a little faith and following these steps you could 'Be Happy';. Throughout the article Thomas makes very valuable points, two that I have to agree with 100%. The first point that I agree with is having faith. Having faith in a religious way or just in life in general. Both types of faith will bring you an inner happiness. You look at those people who are sick or very ill. The one who has faith seems to make a stronger and quicker recovery. You'll also notice that from these people that they are very at peace and bring happiness to those around them. The second point that he makes that I agree with is sleep, sleep, sleep. I've notice that in life you need to sleep. People who have trouble sleeping become very irritable and unhappy. You'll also notice that those people whom do sleep they tend to be more patient, alert and more extroverted. These people to me, which are getting enough sleep are happy with that point in their life and can pass their happiness to others. You'll also notice that people seem to make more mistakes and have trouble being happy when they unable to sleep. So when looking at happiness and sleep you'll notice that you have to get enough sleep to be happy in life. When looking at the list you have to wonder what do I do to make myself happy? For me I surround myself with my friends who are happy. Knowing that their happiness would rub off on me. I also find myself trying to make others happy by helping them, when they are down in their time of need. Being there for others can be very self-gratifying and boost happiness for both you and the person whom you are helping.

The Role of Marlow as Narrator in Joseph Conrads Heart of Darkness Ess

The Role of Marlow as Narrator in Heart of Darkness  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   Whether Marlow is, or is not, Conrad has been discussed extensively. Clearly, Marlow is both, at the same time that he is neither. Heart of Darkness is not, then, Marlow's story exclusively. And if we examine it for a moment as the creation of the nameless member of Marlow's audience, it takes on a different coloration. The narrator's inclusion of Marlow's story within his point of view appears as a deliberate attempt on his part to frame the concrete world and man's involvement with this world in a vision which negates the reality of both. "Heart of Darkness" creates for us the visible surface of life, but does so in such a way that we never forget that this surface is a lie. It leads us to Kurtz, but does so in such a way that we never accept his idealism at face value. And this destruction of both possible grounds for the self, grounds toward which all versions of the adventure for Conrad are directed, results in the radical transformation in the intent of writing. It is no longer one form of the adventure, an act by which man could assure his positive existence. For the anonymous narrator, writing performs precisely the opposite function. It becomes a way of destroying any idea of an act which can confer such an identity by destroying all belief in a reality toward which this act can be directed. Thus for the narrator to place Marlow's positive, creative journey within the context of a negating darkness is for him to accept the insubstantiality of the self. It is to accept the fact that man can never transcend the conditional existence of his original, orphaned state, and it is this acceptance of his own insubstantiality which is the source of the narra... ...ces on the Thames.(19)    (16) à £ The World's Classics Joseph Conrad. Youth, Heart of Darkness, The End of the Tether. Edited with an introduction by robert Kimbrough. Introduction, Notes, Blossary à £ Robert Kimbrough-1984 Pages: 10 and 11.    (17) à £ The Metaphysics of Darkness . Royal Roussel. A study in the unity and development of Conrad's Fiction. 1971- The John's Hopkins Press by Baltimore and London Pages: 77, 78 and 79.      (18) à £ The World's Classics Joseph Conrad. Youth, Heart of Darkness, The End of the Tether Edited with an introduction by robert Kimbrough. Introuduction, Notes, Glossary à £ Robert Kimbrough- 1984 Pages: 14, 15 and 23.    (19) à £ Heart of Darkness with the Congo Diary Introduction and Notes à £Robert Hampson, 1995 Penguin Books Ltd, Registered Offices: Harmondsworth, Middlesex, England. Pages: 26 and 27. The Role of Marlow as Narrator in Joseph Conrad's Heart of Darkness Ess The Role of Marlow as Narrator in Heart of Darkness  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   Whether Marlow is, or is not, Conrad has been discussed extensively. Clearly, Marlow is both, at the same time that he is neither. Heart of Darkness is not, then, Marlow's story exclusively. And if we examine it for a moment as the creation of the nameless member of Marlow's audience, it takes on a different coloration. The narrator's inclusion of Marlow's story within his point of view appears as a deliberate attempt on his part to frame the concrete world and man's involvement with this world in a vision which negates the reality of both. "Heart of Darkness" creates for us the visible surface of life, but does so in such a way that we never forget that this surface is a lie. It leads us to Kurtz, but does so in such a way that we never accept his idealism at face value. And this destruction of both possible grounds for the self, grounds toward which all versions of the adventure for Conrad are directed, results in the radical transformation in the intent of writing. It is no longer one form of the adventure, an act by which man could assure his positive existence. For the anonymous narrator, writing performs precisely the opposite function. It becomes a way of destroying any idea of an act which can confer such an identity by destroying all belief in a reality toward which this act can be directed. Thus for the narrator to place Marlow's positive, creative journey within the context of a negating darkness is for him to accept the insubstantiality of the self. It is to accept the fact that man can never transcend the conditional existence of his original, orphaned state, and it is this acceptance of his own insubstantiality which is the source of the narra... ...ces on the Thames.(19)    (16) à £ The World's Classics Joseph Conrad. Youth, Heart of Darkness, The End of the Tether. Edited with an introduction by robert Kimbrough. Introduction, Notes, Blossary à £ Robert Kimbrough-1984 Pages: 10 and 11.    (17) à £ The Metaphysics of Darkness . Royal Roussel. A study in the unity and development of Conrad's Fiction. 1971- The John's Hopkins Press by Baltimore and London Pages: 77, 78 and 79.      (18) à £ The World's Classics Joseph Conrad. Youth, Heart of Darkness, The End of the Tether Edited with an introduction by robert Kimbrough. Introuduction, Notes, Glossary à £ Robert Kimbrough- 1984 Pages: 14, 15 and 23.    (19) à £ Heart of Darkness with the Congo Diary Introduction and Notes à £Robert Hampson, 1995 Penguin Books Ltd, Registered Offices: Harmondsworth, Middlesex, England. Pages: 26 and 27.

The Pros and Cons of Homeschooling Essay -- Pro Con Essays

All children in America have the right to a quality education. Most students receive that education through conventional means, going to a public or private school. There is another option for today's children, home schooling. Home schooling is a controversial issue. While it does have its benefits, some people believe it has too many downfalls to be an effective method of education. In this paper, topics such as academic impact, social impact, and parental opinions of home schooling will be discussed. Perhaps the most significant impact of home schooling is the actual learning. There are many academic advantages. In a home schooling situation, there is no doubt a more individualized program of study than any traditional school can offer. Whatever a child's pace or level of ability is, it can be met directly. A parent or tutor can focus exactly on what the child needs extra help or improvement in, as well as what the child excels at.(Ray, 2014) In a public school, teachers must teach to "the middle" and have little time to cater to an individual student's needs on a regular basis. There is also room for a better quality of learning in a home schooling setting. Parents or tutors in a home school setting do not have to waste time with administrative tasks or repeating directions. They can get down to learning and reviewing. If a child is ok with a subject, they can move on. A child who is home schooled also has the opportunity to take part in a greater number of alternative learning experiences. For example, if a parent feels that a trip to a museum will better get a point across, on the spur of the moment they can take their child. Such spontaneity would not be possible in a regular school classroom. A certain structure is expected in a public school. In home schooling, parents or tutors are free to teach using methods they deem appropriate to the situation and the student. In a traditional school, much time is wasted. The students need time to change classes, get out their homework, pass out papers, etc. Even getting to school is a long trek for some students. In a home schooling setting, these trivial tasks are greatly reduced. For example, the first day of school in a public or private traditional school normally means a lot of paperwork and administrative tasks. Students spend most of the day getting lockers and filling out emergency cards so t... ...l that it is a decision that a parent needs to make, based on what they feel are important standards for learning. Home schooling provides a more relaxed environment, with a one on one learning environment and a flexible schedule. It also provides a pace that is best for the child, an environment on areas children want to focus on as well as confident student who doesn ¦Ãƒ t have to deal with the feelings of others. However, it decreases the socialization of the child, less exposure to different ethnicities and a limited view of the real world. The parents probably do not have the knowledge they need to teach, there are more distractions to deal with and parents may not know how to teach. These ideas are serious to think about and only add to the controversial idea of home schooling. Articles/Scholarly Sources Ray, Brian D. Customization through Home schooling Education Leadership, April 2014, Volume 59. Issue 7. Romanowski, Michael. Common Arguments about the Strengths and Limitations of Home Schooling Clearing House, Nov/Dec 2014, Vol.75, Issue 2. Internet Sources www.homeschooling.about.com www.learninfreedom.com www.homeschoolingonline.org

Napoleon Bonaparte †Hero or Villain? Essay

Some men are born heroes while others earn the title after their death. Either way, a hero’s life and his achievements are cemented in the history of the world and become timeless. Napoleon Bonaparte (1769-1821) is known today as one of the most intelligent and skilled leaders to have ever lived. He is also known as a controversial figure, his reputation however is disputable as many criticize him for being brutal, selfish and delusional. A deeper study of his life and motives dictating it explains whether this accusation of his villainy is true or false. Military Successes His first actual military feat was in the Siege of Toulon, when he was the captain of the artillery, driving away the British naval and land forces. It was Napoleon’s ingenious plan to place the republican guns strategically atop a hill, in a manner that they could protect the city’s harbor and they would push the British ships out of the city. Napoleon at the ripe age of 24 was known henceforth as Brigadier General and was consequently given the artillery arm of France’s Army of Italy to lead. These events proved his ambitious and speedy progress on the military front and set a parable for time to come. (Asprey, 2000). In October 1975, he was given command of the forces at the Tuileries Palace where Napoleon had recently seen the massacre of the King’s Swiss Guard. He employed large cannons and used them to repel his enemy. The idea worked like magic, the streets were cleared in what is commonly known ‘a whiff of grapeshot’ as phrased by Thomas Carlyle in The French Revolution: A History. Napoleon had once again used his experience and devised an intelligent solution to hit the nail on the head. (Louis, 1998, p. 40) Bonaparte was to take command of the Army of Italy so he devised a plan that was entirely unpredictable. The man’s greatness and vision is reflected in how he could be so delicately tactful and roughly aggressive at the same time. First he overtook the Austrian forces at the Battle of Lodi. Then he went on towards the Papal States. The Directory advised him to conduct a march on Rome but as a man of reason would, Napoleon felt that would weaken the state and refused. In March 1797, Napoleon led the army into Austria which being defeated already decided to negotiate for peace in the Treaty of Leoben. The clauses of this Treaty were such that France got hold of most of northern Italy and the Low Countries. Seizing the opportunity to claim as much of the land as he could, he seemingly awarded Venice to Austria after which he marched into it, ending its 1,100 years of independence with a triumphant invasion. When viewed objectively and for its sheer innovation and creativity, Napoleon’s strategy leaves most people astounded and is certainly admirable. Not only does it take a thorough understanding of conventional military leadership, it also requires a fresh and bright mind to achieve this. Napoleon thus dedicatedly created for himself a reputation, cooking up military plots that his opponent could not often predict or prevent. (Asprey, 2000) Napoleon was one of a kind when it came to military tactics such as concealment, espionage, envelopment and surveillance. His talent was obvious with the numerous battles he fought and won in a very short span of time. That and the rising popularity inspired him to prepare for invading England which had vast trading interests in India at that time (Louis, 1998). He had a developing interest in the Middle East, and had the foresight to realize that joining hands with a figure like Tipu Sultan would be Britain’s Achilles Heel. Napoleon told the Directory ‘as soon as he had conquered Egypt, he will establish relations with the Indian princes and, together with them, attack the English in their possessions. ’ (Asprey, 2000, p. 26) Bonaparte sketched out the Constitution of the Year VIII on becoming First Consul and was soon known as the most powerful person in the country. In 1804, he formalized this status by crowning himself Emperor. Following this in 1805 he was crowned King of Italy too. Even at this exhilarating point in his life, Bonaparte with his quick thinking decided to promote his top generals to ‘Marshals of the Empire’, ensuring their loyalty to him for times to come. He did not take his success for granted. (Louis, 1998, p. 11). One of the most frequently discussed events of that time was the Battle at Austerlitz where, on the first anniversary of his coronation, Napoleon defeated Austria and Russia together. Following this, Austria signed the Peace of Pressburg after which Napoleon was named the Protector of the Confederation of the Rhine (Moore, 1999). Austria had to also give up its land and Napoleon termed Austerlitz as one of his finest battles (Louis, 1998). Critics argue that at such a prime time in his life, Napoleon lost touch with reality and as Frank McLynn expressed ‘what used to be French foreign policy’ became a ‘personal Napoleonic one’. ’ On the contrary, it seems few remember that the man had noble intentions. Vincent Cronin stated Napoleon was not overly ambitious for himself, that â€Å"he embodied the ambitions of thirty million Frenchmen†. (Moore, 1999, p. 2). One such example of Napoleon’s exceptional foresight and vast vision is that even after a failure to capture Egypt; he pursued his desire to secure a place in the Middle East. His insight that an alliance in that region would give the French the power to pressurize Russia from the South was brilliant. He worked hard to convince the Ottomans to join hands with him against Russia. He gave them incentives like they would regain lost territories and in 1806 Selim III called France a ‘sincere and natural ally’ ready to form an alliance. Following this feat, the Persian Empire of Fateh Ali Shah also formed the Franco-Persian Alliance in 1807 (Asprey, 2000, p. 23). Personal skill – the exemplary hero Napoleon’s biggest and most undeniable influence has been in warfare – his methods are now referred to as ‘Napoleonic warfare’. The influential military theorist Carl von Clausewitz describes him as a genius in the operational art of war. Wellington, when asked who was the greatest general of the day, answered: â€Å"In this age, in past ages, in any age, Napoleon. † (Moore, 1999, p. 1). Napoleon was always head first into the battle scene. This not only motivated his soldiers and collegues, it also helped set high standards of dedication and passion on the field. In battles like Montenotte, Mondovi, Arcola and Rivoli, Napolean set great examples often getting wounded himself. He also kept soldiers going by promising those rewards and incentives. (Louis, 1998). ‘Napoleon suffered various military setbacks however: at Leipzig in 1813, in Russia in 1812, and arguably at Aspern-Essling in 1809. He also had to abandon his forces in Egypt’. Despite the blows he suffered and felt responsible for subjecting his country to, Napoleon was always quick to get back on his feet. His resilient spirit as a fighter lives as an example for all those who search for the determination to achieve high goals. (Asprey, 2000, p. 38). Napoleon’s Strong Foundation Initially, Napoleon had a good opportunity to study and it was because of his dignified and prosperous family background and the strong ties among them. It laid the foundation, and gave him a chance to learn French at a religious school in Autun and later got him to enroll into a military academy at Brienne-le-Chateau. An examiner his exceptional aptitude in mathematics, history and geography, all of which helped him excel in the battlefield. The potentials map of the world, a desire to change history and the mathematical grid with which to arrange troops for an invasion – the seeds were sown for a new vision of the French Empire (Louis, 1998). Napoleon and other Heroic Achievements Not only was he a keen military man, his humane and artistic side too was alive and kicking. Bonaparte published two newspapers, which were apparently for troops but most of France was reading them under that cover. He also started Le Journal de Bonaparte et des hommes vertueux, a newspaper to be published in Paris, increasing his influence on the political front in the country. 1798, Bonaparte was elected a member of the French Academy of Sciences, his Egyptian group discovered the Rosetta Stone and their work was published in the Description de l’Egypte (Asprey, 2000). Bonaparte was the one to initiate centralized administration, higher education, tax codes, road and sewer systems and the country’s central bank (Louis, 1998). He bargained for the Concordat of 1801 with the Catholic Church, which inviting the Catholic population towards himself as he regulated public worship. In 1802, he instituted what is today the highest tribute in France in both military and civilian achievements, the Legion d’Honneur. These won him public support and high regard, and served as a bible for time to come. Multi talented and as much a man of reason as he was of force, Napoleon’s also created the famous Napoleonic code—was an enormous stepping stone in the nature of the civil law and legal systems promoting lucid and accessible laws. In his own words â€Å"My true glory is not to have won 40 battles†¦ Waterloo will erase the memory of so many victories. †¦ But†¦ what will live forever is my Civil Code. † (Louis, 1998, p. 51). Correctly so, the Civil Code has immense significance, used in over a quarter of the world’s jurisdictions including Europe, the Americas and Africa. It encouraged civilians to own property without fear and helped fight the plague of feudalism. Among his other achievements, Napoleon emancipated Jews from laws which restricted them to ghettos, and helped them win their rights to proper worship places, and work placed. In exile, in the first few months on Elba he created a small navy and army, developed the iron mines, and reformed and renovated the agricultural systems according to modern ways. He was not only known for ruling loud and mighty but had a much more humane and thoughtful side to him, his vision extended much beyond the war field (Louis, 1998). The Decline The Russians were defeated in a series of battles and Napoleon resumed his advance. But the harsh climatic conditions made the advance a fierce challenge. The Battle of Borodino resulted in approximately 44,000 Russian and 35,000 French, dead, wounded or captured, and may have been the bloodiest day of battle in history up to that point in time. In Napoleon’s own words was: â€Å"The most terrible of all my battles was the one before Moscow. The French showed themselves to be worthy of victory, but the Russians showed themselves worthy of being invincible. † The French suffered greatly in the course of a ruinous retreat, begun as over 400,000 frontline troops, but in the end fewer than 40,000. (Asprey, 2000, p. 28). Napoleon won a series of battles in the Six Days Campaign, but could not sustain control in Paris which was captured by the Coalition in 1814. The Allies eventually forced Napoleon to abdicate. He escaped but was intercepted soon. When confronted by a regiment, Napoleon approached them and shouted, â€Å"Here I am. Kill your Emperor, if you wish. † The soldiers, with hidden awe and admiration for him replied with, â€Å"Vive L’Empereur! † and marched with Napoleon to Paris; another example of the respect Napoleon received from those who knew his strengths and forgave his weaknesses. (Asprey, 2000, p. 64). Conclusion Many ideas demean the man’s reputation today. There is a term called the Napoleon Complex which indicates aggressive behavior of a person who lacks height. (Moore, 1999). He reinstated slavery in French colonies, encouraged looting and often sought to solve problems with brute force rather than by deliberation. His attack on Jaffa was brutal: innocent men, women and children lost their lives sometimes to save bullets, supplies and at other times because they were suffering from the bubonic plague and were a burden. In 1920 he re-established slavery in France’s colonial possessions. (Asprey, 2000). Critics feel that the brutalities committed during his reign are unforgivable and were entirely unavoidable. However there are those like Vincent Cronin who felt that Napoleon was not ‘responsible for the wars which bear his name, when in fact France was the victim of a series of coalitions which aimed to destroy the ideals of the Revolution’. His was the rule that ended lawlessness in France after the revolution (Louis, 1998). A hero lives as an example to people to believe in good and strive to achieve it. A hero dies to live on in their minds as a proof of what the human spirit is capable of if the heart is set on it. Today International Napoleonic Congresses are held in which scholars and politicians meet to discuss matters of world wide significance. An icon of ‘military genius and political power’, Napoleon is used to name products, places and characters, all of which speak of his outstanding skills and innumerable successes (Moore, 1999). American journalist Chuck Palahniuk says ‘We all die. The goal isn’t to live forever; the goal is to create something that will’. Napoleon has emerged a hero, through what he created – an undying inspiration for great leadership, superb administration, unending determination, ruthless loyalty and masterful skills leading to eternal triumph (Louis, 1998, p. 66). He is remembered today in all historical publications as a courageous and able soldier, a man whose tact, craft and vision extended much beyond others. His name has come to symbolize a soldier’s epitome, a leader’s aspiration. His flaws may be many and will remain attached to his exalted but very human condition. As Alexander Pope puts it, ‘To err is human, to forgive is Divine. ’ It is not everyday one finds a story so moving and as passionate as one of Napoleon Bonaparte. A man fuelled with a ferocious desire to be victorious only to see a victorious France. 1799. Napoleon was laid to rest in May 1821 after fighting with persistent ill health. His last words were ‘France, army, head of the army, Josephine’ which he spoke in French (Louis, 1998, p115). There was no doubt that in his dying moments as his life flashed before him, he expressed what was dearest to him, and in it was his first and deepest love – France. Those who judge him for being self absorbed would think again. He was initially buried in St. Helena but later shifted to Seine as he had requested in his will. He was given a state funeral, respects to a man who was a hero of his time, albeit with inevitable human flaws. (Asprey, 2000). References Books B. Asprey, Robert. (2000). The Rise of Napoleon Bonaparte. First Edition. New York: Basic Books. Fauvelet de Bourrienne Louis, Antoine. (1998). Memoirs of Napoleon Bonaparte. Constables Miscellant – Original and Selected Publishing. Websites Richard Moore. (1999). Napolean Guide. May 26, 2010, from www. napoleonguide. com.

Brief Literary Analysis Edgar Allen Poe

15 November 2012 Edgar Allan Poe Literary Analysis Edgar Allan Poe is often regarded as the most skilled American poet and short story writer, and it is no wonder because every literary work created by Poe is written with such proficiency, that even readers today are awe-struck. In Poe’s short stories and poems, one will find the same few themes in his works, such as women, the color red and a variety of horror themes, however one theme that is very repetitive is his employment of death. This theme is used in many novels today, and is also a popular theme in books, television shows and videogames. Read also Edgar Allan Poe DrugsIn fact, since the 1800s, people have become increasingly appealed by death. Death was one of Poe’s favorite themes, and is a big reason why Poe’s literary works are still read today. In Poe’s short story â€Å"The Masque of the Red Death†, the theme of death often brought up, such as when the fatal â€Å"red death† sickness was described: when contracted, its host would feel â€Å"sharp pains, and sudden dizziness† (1), and its host would have â€Å"profuse bleeding of the pores† (1). The red death was a widespread disease, but Prince Prospero’s castle was safe from the red death because the disease couldn’t get past the abbey gates.In his happy mood, the Prince organized a ball, this ball was not an ordinary ball, but it was a masquerade, in which the guests would wear masks and costumes. This story ends in an extremely violent manner, in which every masquerader succumbs to the red death. The theme of this masquerade was gruesome; many masqueraders wore very graphic outfits, which foreshadow the horrible end of this story. Another one of Poe’s works, â€Å"Annabel Lee†, was actually based on his wife, Virgiania Eliza Clemm Poe, and in the the poem, Annabel is killed by the angels above that were jealous of the love between Annabel and Poe.So one night, at the peak of their jealousy, the sent out a cloud â€Å"Chilling and killing† (4. 6) Poe’s Annabel Lee. The theme of death is very obvious in that Annabel Lee dies in the poem, and the main character is filled with an infinite sadness, that he even sleeps by the grave. What’s ironic about this poem is the fact that Annabel dies from a chilly wind, and Virginia, in her last stage of consumption, dies cold, and Poe, so poor, was unable to afford a blanket for her, a simple luxury that would have brightened her mood just a bit. The Fall of the House of Usher† is a unique short st ory in that it was one of the first â€Å"haunted house† stories of it’s time. This story was about a man who was invited by his friend, Roderick Usher, to cheer Usher up. The main character soon arrives at the Usher manor, which once was beautiful, now is an old run-down mansion. The only two Usher family members that are still alive are the twins, Roderick and Madeline, and both of them suffer from peculiar diseases, Roderick suffers from a â€Å"morbid acuteness of the senses† (3) and Madeline seemingly suffers form a type of immunodeficiency, in which she gets deathly ill often.The first appearance of the theme of death is when Roderick states Madeline as â€Å"dead† and subsequently buries Madeline prematurely. Roderick is aware of this, and near the end of the story, Madeline breaks out of her coffin and â€Å"with a low moaning cry, fell heavily inward upon the person of her brother,† (10) killing Roderick, another appearance of death. At th e very end, the manor disappears, symbolizing the death of the Usher bloodline. The theme of death is apparent in this short story, so this theme is not only a coincidence. Many of Poe’s stories include death, and â€Å"The Black Cat† is no exception.This story is one of his more brutal stories in that the main character first hung his favorite cat, Pluto, and then â€Å"buried the axe† (4) in his wife’s head. The final death is that of the main character, when he is sentenced to hang for his atrocious deed of murder. This theme of death is proved as a common theme now, as it is in at least four of Poe’s literary works, and these stories aren’t the only ones that include the theme of death. Death is not a happy event. A funeral is usually a time of sadness, and there is depressing atmosphere that is fueled by this sadness.Poe recreates this atmosphere in many of his works in the mood of the story or poem. For example, in â€Å"The Fall of t he House of Usher† this depressing mood is heightened when the reader becomes aware that the only remaining Ushers alive are Roderick and Madeline. Another instance of heightened mood is in â€Å"The Black Cat† when Pluto is brutally executed by the main character. This mood is even evident in â€Å"Annabel Lee† when Poe writes â€Å"A wind came out of the cloud by night, Chilling and killing my beautiful Annabel Lee† (4. 25-26). Poe is a master at creating this theme, as he effectively depresses the reader with the depressing mood of death.Poe is also proficient at symbolizing death. The symbolism of death takes many different forms in Poe’s works ranging from very simple symbols to rather complex ones. An example is the clock in â€Å"The Masque of the Red Death† in which the clock chimed every hour with a â€Å"dull, heavy, monotonous clang† (2). A clock is a symbol of death because it constantly reminds the limited life span of a h uman being. A rather blunt symbol of death is a coffin, like the one Madeline Usher broke out of in â€Å"The Fall of the House of Usher. † The reason a coffin is a symbol of death is because a corpse is put in a coffin prior to the burial of the body.The color black is also a symbol of death, which is the color of the velvet tapestries, hung in the seventh room in â€Å"The Masque of the Red Death† which is the room Prince Prospero and his fellow masqueraders are killed. In many of Poe’s works, the story takes place in an old house, or castle, the reason behind this is that an older house usually means it has survived several generations, which can also be related to death, because a generation is defined as a group of people born at approximately the same time, and since a human being has a defined life span, the end of a generation is when the group of people die.The old Usher manor has survived several generations of the Usher family, and it is also the plac e where several of the Usher family members are buried. At the end, it is the resting place of Madeline and Roderick. Ultimately, the house mysteriously disappears when Madeline and Roderick die. Another old building is Prince Prospero’s castle in â€Å"The Masque of the Red Death†, and that also has seen many generations of mankind, but it also sees the death of Prospero and his friends when the Red Death sneaks into the masquerade and swiftly kills them all.A very large amount of Poe’s works take place at night, rarely does one of Poe’s works take place in the daytime. The night has always held superstition for mankind because it is first of all, a time when humans sleep, and aren’t very active, and second of all, the human eye cannot see in the dark well. As stated before, rarely does one of Poe’s works take place in the day, in fact, the four works referenced all take place at night. One may wonder why many of Poe’s works were vio lent, gloomy, and why many of his stories included a lot of death.The explanation is because Poe had a very depressing life. His father was an alcoholic that left after Poe was a year old and eventually died of alcoholism. His mother cared for Poe until she died of consumption. After Poe’s mom had died, Francis Allan adopted Poe and Francis sent him to a peculiar school in England. What made this school peculiar was how the taught math and physical education. Math was taught using dates on tombstones, while physical education was taught by digging graves. This school could be a possible influence on Poe’s works, because he got to do graveyard work.Later, when he grew older, Poe had taken a romantic interest in his friend’s (his friend’s name was Richard) mother. Sadly, Richard’s mother developed a tumor, and died. Soon after Poe had finished college, Francis Allan died of consumption, and she was the only reason John Allan hadn’t evicted Poe yet, so once Francis died, Poe was evicted. After this event, Poe found a new romantic interest, in his adopted sister, Virginia Eliza Clemm Poe. Poe married her when he was twenty-six years old. Unfortunately, Virginia also died from consumption. Now it can be seen why Poe wrote so much about death, because he was surrounded by it.Poe’s life was a short-lived and very unfortunate one. Many of his loved ones died from either consumption or other causes, and Poe was always poor. Poe became an alcoholic, just like his father, and he died at age forty. There was no rest for Poe, so most of his feelings went into his poetry and short stories, and that was what made him a successful writer. In the time Poe lived, there was common a terrible disease called consumption, or more commonly known today as Tuberculosis. This disease would attack the victim’s lungs, and slowly kill the victim.The common symptom of consumption is coughing up blood, but there are other symptoms such as a fever, chest pains, a cough with increasing mucus and a nightly sweat. This disease is could have been a big influence on Poe’s writing, because this disease killed many of Poe’s beloved and in a rather violent manner. Another thing people of Poe’s time were scared of was being buried alive, so much that devices that rung bells were attached to coffins so in the event someone was buried alive, person in the coffin could ring the bell and be rescued from their earthly prison.This fear was so great, that Poe had the idea to put it into one of his stories â€Å"The Fall of the House of Usher† in which Madeline Usher was buried before she was dead, by Roderick Usher. This fear had an apparent influence on Poe’s literature, and people loved the thrill of reading Poe’s â€Å"tales of terror. † In â€Å"The Masque of the Red Death† Poe accomplishes several points, that death is unavoidable; Prince Prospero could not escape the i nevitable Red Death disease by simply hiding in his Abbey until it went away. Poe also states that death is an eternal law. If there is a beginning, there is an end, and life is no exception.Even time dies alongside the masqueraders, for time, one of humanity’s fears, will cease to exist as well. These points are surprisingly true, for each thing that has a beginning comes to an end, no exceptions. Poe blends morals and lessons into a brutal story of a man who tried to evade death, but he was foolish, for no mortal can escape death. Science states that everything was created, and everything will be destroyed, in due time, so this eternal law of death that Poe creates is so incredibly accurate to science, that Poe was a genius to secretly incorporate this law into a short story.Edgar Allan Poe is perhaps one of the greatest American writers of all time. His short stories and poems are still read by the world, and for good reason, what makes his stories so good are his well-wri tten story plots, and his themes of death, blood and gore which still ones that even people today can enjoy and be thrilled by. Poe had a depressing life, and it is unfortunate that he lived only forty years, who knows what else could have been produced.

Deception Point Page 11

Now Rachel was impressed. The President had protected himself with typical Herney aplomb. By hiring the ultimate team of skeptics – outsiders who had nothing to gain by confirming the NASA discovery – Herney had immunized himself against suspicions that this might be a desperate NASA ploy to justify its budget, reelect their NASA-friendly President, and ward off Senator Sexton's attacks. â€Å"Tonight at eight P.M.,† Herney said, â€Å"I will be calling a press conference at the White House to announce this discovery to the world.† Rachel felt frustrated. Herney had essentially told her nothing. â€Å"And this discovery is what, precisely?† The President smiled. â€Å"You will find patience a virtue today. This discovery is something you need to see for yourself. I need you to understand this situation fully before we proceed. The administrator of NASA is waiting to brief you. He will tell you everything you need to know. Afterward, you and I will further discuss your role.† Rachel sensed an impending drama in the President's eyes and recalled Pickering's hunch that the White House had something up its sleeve. Pickering, it appeared, was right, as usual. Herney motioned to a nearby airplane hangar. â€Å"Follow me,† he said, walking toward it. Rachel followed, confused. The building before them had no windows, and its towering bay doors were sealed. The only access seemed to be a small entryway on the side. The door was ajar. The President guided Rachel to within a few feet of the door and stopped. â€Å"End of the line for me,† he said, motioning to the door. â€Å"You go through there.† Rachel hesitated. â€Å"You're not coming?† â€Å"I need to return to the White House. I'll speak to you shortly. Do you have a cellphone?† â€Å"Of course, sir.† â€Å"Give it to me.† Rachel produced her phone and handed it to him, assuming he intended to program a private contact number into it. Instead, he slipped her phone into his pocket. â€Å"You're now off-the-grid,† the President said. â€Å"All your responsibilities at work have been covered. You will not speak to anyone else today without express permission from myself or the NASA administrator. Do you understand?† Rachel stared. Did the President just steal my cell-phone? â€Å"After the administrator briefs you on the discovery, he will put you in contact with me via secure channels. I'll talk to you soon. Good luck.† Rachel looked at the hangar door and felt a growing uneasiness. President Herney put a reassuring hand on her shoulder and nodded toward the door. â€Å"I assure you, Rachel, you will not regret assisting me in this matter.† Without another word, the President strode toward the PaveHawk that had brought Rachel in. He climbed aboard, and took off. He never once looked back. 12 Rachel Sexton stood alone on the threshold of the isolated Wallops hangar and peered into the blackness beyond. She felt like she was on the cusp of another world. A cool and musty breeze flowed outward from the cavernous interior, as if the building were breathing. â€Å"Hello?† she called out, her voice wavering slightly. Silence. With rising trepidation, she stepped over the threshold. Her vision went blank for an instant as her eyes became accustomed to the dimness. â€Å"Ms. Sexton, I presume?† a man's voice said, only yards away. Rachel jumped, wheeling toward the sound. â€Å"Yes, sir.† The hazy shape of a man approached. As Rachel's vision cleared, she found herself standing face to face with a young, stone-jawed buck in a NASA flight suit. His body was fit and muscle-bound, his chest bedecked with patches. â€Å"Commander Wayne Loosigian,† the man said. â€Å"Sorry if I startled you, ma'am. It's pretty dark in here. I haven't had a chance to open the bay doors yet.† Before Rachel could respond, the man added, â€Å"It will be my honor to be your pilot this morning.† â€Å"Pilot?† Rachel stared at the man. I just had a pilot. â€Å"I'm here to see the administrator.† â€Å"Yes, ma'am. My orders are to transport you to him immediately.† It took a moment for the statement to sink in. When it hit her, she felt a stab of deceit. Apparently, her travels were not over. â€Å"Where is the administrator?† Rachel demanded, wary now. â€Å"I do not have that information,† the pilot replied. â€Å"I will receive his coordinates after we are airborne.† Rachel sensed that the man was telling the truth. Apparently she and Director Pickering were not the only two people being kept in the dark this morning. The President was taking the issue of security very seriously, and Rachel felt embarrassed by how quickly and effortlessly the President had taken her â€Å"off-the-grid.† Half an hour in the field, and I'm already stripped of all communication, and my director has no idea where I am. Standing now before her stiff-backed NASA pilot, Rachel had little doubt her morning plans were cast in stone. This carnival ride was leaving with Rachel onboard whether she liked it or not. The only question was where it was headed. The pilot strode over to the wall and pressed a button. The far side of the hangar began sliding loudly to one side. Light poured in from the outside, silhouetting a large object in the center of the hangar. Rachel's mouth fell open. God help me. There in the middle of the hangar stood a ferocious-looking black fighter jet. It was the most streamlined aircraft Rachel had ever seen. â€Å"You are joking,† she said. â€Å"Common first reaction, ma'am, but the F-14 Tomcat Split-tail is a highly proven craft.† It's a missile with wings. The pilot led Rachel toward his craft. He motioned to the dual cockpit. â€Å"You'll be riding in back.† â€Å"Really?† She gave him a tight smile. â€Å"And here I thought you wanted me to drive.† After donning a thermal flight suit over her clothes, Rachel found herself climbing into the cockpit. Awkwardly, she wedged her hips into the narrow seat. â€Å"NASA obviously has no fat-assed pilots,† she said. The pilot gave a grin as he helped Rachel buckle herself in. Then he slid a helmet over her head. â€Å"We'll be flying pretty high,† he said. â€Å"You'll want oxygen.† He pulled an oxygen mask from the side dash and began snapping it onto her helmet. â€Å"I can manage,† Rachel said, reaching up and taking over. â€Å"Of course, ma'am.† Rachel fumbled with the molded mouthpiece and then finally snapped it onto her helmet. The mask's fit was surprisingly awkward and uncomfortable. The commander stared at her for a long moment, looking vaguely amused. â€Å"Is something wrong?† she demanded. â€Å"Not at all, ma'am.† He seemed to be hiding a smirk. â€Å"Hack sacks are under your seat. Most people get sick their first time in a split-tail.† â€Å"I should be fine,† Rachel assured him, her voice muffled by the smothering fit of the mask. â€Å"I'm not prone to motion sickness.† The pilot shrugged. â€Å"A lot of Navy Seals say the same thing, and I've cleaned plenty of Seal puke out of my cockpit.† She nodded weakly. Lovely. â€Å"Any questions before we go?† Rachel hesitated a moment and then tapped on the mouthpiece cutting into her chin. â€Å"It's cutting off my circulation. How do you wear these things on long flights?† The pilot smiled patiently. â€Å"Well, ma'am, we don't usually wear them upside down.† Poised at the end of the runway, engines throbbing beneath her, Rachel felt like a bullet in a gun waiting for someone to pull the trigger. When the pilot pushed the throttle forward, the Tomcat's twin Lockheed 345 engines roared to life, and the entire world shook. The brakes released, and Rachel slammed backward in her seat. The jet tore down the runway and lifted off within a matter of seconds. Outside, the earth dropped away at a dizzying rate.

Comparison of Public and Private Banks

A â€Å"SUMMER TRAINING† PROJECT REPORT ON COMPARATIVE STUDY BETWEEN PRIVATE SECTOR BANKS ANP PUBLIC SECTOR BANKS Submitted To: PUNJAB TECHNICAL UNIVERSITY,JALANDHAR MASTER OF BUSINESS ADMINISTRATION(MBA) SESSION(2007-09) CT INSTITUTE OF ENGINEERING,MANAGEMENT & TECHNOLOGY,JALANDHAR (SHAHPUR CHAMPUS) PREFACE Someone has rightly said that practical experience is for better and closer to the real world then mere theoretical exposure.The practical experience helps the students view the real world closely, which in turn widely influences their perceptions and argument their understanding of the real situation. Research work constitutes the backbone of any management education programme. A management student has to do research work quite frequently during his entire span. The research work entitle â€Å"COMPARATIVE STUDY BETWEEN PRIVATE SECTOR BANKS AND PUBLIC SECTOR BANKS† aims to analyze various services provided by private sector banks and public sector banks for this pu rpose Pathankot city have been chosen.ACKNOWLEDGEMENT I feel immense pleasure to give the credit of my summer training project work not only to one individual effort of all those who concern with it. I want to thanks to all those individual who guided me to move on the track. The summer training project entitled â€Å"COMPARATIVE STUDY BETWEEN PRIVATE SECTOR AND PUBLIC SECTOR BANKS† I am gratefully indebted to Mr. Davinder Singh for providing me all the necessary help and required guideline for the completion of my project and also for the valuable time that he gave me from his scdedule. Neha Kapoor TABLE OF CONTENTS |CHAPTER NO. PARTICULARS |PAGE NO. | | 1 |INTRODUCTION OF THE STUDY | 1-23 | | 2 |OBJECTIVES OF THE STUDY | 24-25 | | 3 | 3. 1 RESEARCH METHODOLOGY | 26-36 | | | | | | |3. LIMITATIONS OF THE STUDY | | | | |37 | | 4 |DATA ANALYSIS AND ITS INTERPRETATION | 38-46 | | 5 |FINDING OF THE STUDY | 47-50 | | 6 |SUGGESTIONS 51-54 | | 7 |CONCLUSION | 55-56 | | 8 |BIBLIO GRAPHY | 57-58 | | 9 |ANNEXURE | 59-62 | Introduction The world of banking has assumed a new dimension at dawn of the 21st century with the advent of tech banking, thereby lending the industry a stamp of universality.In general, banking may be classified as retail and corporate banking. Retail banking, which is designed to meet the requirement of individual customers and encourage their savings, includes payment of utility bills, consumer loans, credit cards, checking account and the like. Corporate banking, on the other hand, caters to the need of corporate customers like bills discounting, opening letters of credit, managing cash, etc. Metamorphic changes took place in the Indian financial system during the eighties and nineties consequent upon deregulation and liberalization of economic policies of the government.India began shaping up its economy and earmarked ambitious plan for economic growth. Consequently, a sea change in money and capital markets took place. Application of marketing concept in the banking sector was introduced to enhance the customer satisfaction the policy of privatization of banking services aims at encouraging the competition in banking sector and introduction of financial services. Consequently, services such as Demat, Internet banking, Portfolio Management, Venture capital, etc, came into existence to cater to the needs of public.An important agenda for every banker today is greater operational efficiency and customer satisfaction. The mew watchword for the bank is pretty ambitious: customer delight. The introduction to the marketing concept to banking sectors can be traced back to American Banking Association Conference of 1958. Banks marketing can be defined as the part of management activity, which seems to direct the flow of banking services profitability to the customers. The marketing concept basically requires that there should be thorough understanding of customer need and to learn about market it operates in.Further the market is segmented so as to understand the requirement of the customer at a profit to the banks. DEFINITION OF BANK The Oxford dictionary defines the Bank as, â€Å"An establishment for the custody of money, which it pays out, on a customer’s order. † According to Whitehead, â€Å" A Bank is defined as an institution which collects surplus funds from the public, safeguards them, and makes them available to the true owner when required and also lends sums be their true owners to those who are in need of funds and can provide security. † Banking Company in India has been defined in the Banking Companies act 1949, One which transacts the business of banking which means the accepting, for the purpose of lending or investment of the deposits of money from the public, repayable on demand, or otherwise and withdraw able be cheque, draft, order or otherwise. † The banking system is an integral subsystem of the financial system. It represents an important channel of collecting small savings form the households and lending it to the corporate sector. The Indian banking system has Reserve Bank of India (RBI) as the apex body for all matters relating to the banking system. It is the central Bank of India.It is also known as the Banker To All Other Banks. EVOLUTION OF INDIAN BANKING Ancient banking system of India constituted of indigenous bankers. They have been carrying on their age-old banking operations in different parts of the country under different names. The modern age of banking constitutes the fundamental basis of economic growth. The term Bank is being used since long time but there is no clear conception regarding its beginning. According to the viewpoint, in good old days. Italian money leaders were known as â€Å"Banchi† because they kept a special type of table to transact their business.IMPORTANCE OF BANKS Today banks have become a part and parcel of Kotak Bank's life. There was a time when dwellers of the city alone coul d enjoy their services. Now banks offer access to even a common man and their activities extend to areas hitherto untouched. Banks cater to the needs of agriculturalists, industrialists, traders and to all the other sections of the society. In modern age, the banking constitutes the fundamental basis of economic growth. Thus, they accelerate the economic growth of a country and steer the wheels of the economy towards its goals of â€Å"self reliance in all fields†.It naturally arouses Kotak Bank's interest in knowing more about the ‘Bank’ and the various men and the activities connected with it. Indian Banking System Banking in India has its origin as early as the Vedic period. It was believed that transition from money lending to banking must have occurred even before Manu, The great Hindu Jurist, who has devoted a section of his work to deposit advance and laid down rules relating to rates of interest. During the Mogul period, the indigeneousBankers played a ve ry important role in lending money financing foreign trade and commerce.During the days of East India Company, it was turn over the agency houses to carry on the business. â€Å"The General Bank of India† was the first to join sector in the year 1786. The others that followed were the Bank of Hindustan and the Bengal bank. The bank of Hindustan is reported to have continued till 1906 while the other two failed in the meantime. In the first half of the 19th century the East India Company established three banks: 1. Bank of Bengal (1809). 2. Bank of Bombay (1840). 3. Bank of Madras (1843. These three banks are also known as Presidency Banks were independent units and functioned well.These three banks were amalgamated in 1920 and Imperial Bank of India was established on 27th january1921, which started as private shareholders banks, mostly Europeans shareholders, with the passing of time Imperial bank was taken over by the newly constituted State bank of India act in1955. In 186 5 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up.Reserve Bank of India came in 1935. On July, 1969, 14 major banks of India were nationalized and on 15th April, 1980 six more commercial private banks were also taken over by the government. Reserve Bank of India The Banking system is an integral sub-system of the financial system. It represents an important channel of collecting small savings from the households and lending it to the corporate sector. The Indian banking system has The Reserve Bank of India (RBI) as the apex body from all matters relating to the banking system. It is the â€Å"Central Bank† of India and act as the banker to all other banks.Functions of RBI: †¢ Currency issuing authority †¢ Banker to the government. †¢ B anker to other Bank. †¢ Framing of monetary policy. †¢ Exchange control. †¢ Custodian to foreign exchange and gold reserves. †¢ Development activities. †¢ Research and development in the banking sector. CLASSIFICATION OF BANKS On the basis of Ownership PUBLIC SECTOR BANKS Public sector banks are those banks that are owned by the government. The government owns these banks. In India 20 banks were nationalized in 1969 and 1980 respectively. Social welfare is there main objective. PRIVATE SECTOR BANKSThese banks are those banks that are owned and run by private sector. An individual has control over these banks in proportion to the shares of the banks held by him. CO-OPERATIVE BANKS These are those banks that are jointly run by a group of individuals. Each individual has an equal share in these banks. Its shareholders manage the affairs of the bank. According to the Law SCHEDULED BANK Schedule banks are the banks, which are included in the second schedule of th e banking regulation act 1965. According to this schedule bank: 1. Must have paid-up capital and reserve of not less than Rs500, 000. . Must also satisfy the RBI that its affairs are not conducted in a manner Determinate to the interest of its depositors. Schedule banks are sub-divided as:- a) State co-operative banks b) Commercial banks NON-SCHEDULED BANKS Non -schedule banks are the banks, which are not included in the second schedule of the banking regulation act 1965. It means they do not satisfy the conditions lay down by that schedule. These are the banks having paid up capital, less than Rs. 5Lakhs. They are further classified as follows:- A. Central Co-operative banks and Primary Credit Societies.B. Commercial banks According to Function COMMERCIAL BANKS These are the banks that do banking business to earn profit. These banks make loans for short to business and in the process create money. Credit creation is the main function of these banks. FOREIGN BANKS These are those ba nks that are incorporated by foreign company. They have set up their branches in India. These banks have their head offices in foreign countries. Their principle function is to make credit arrangement or the export and the import of the country and these banks deals in foreign exchange. INDUSTRIAL BANKSIndustrial banks are those banks that offer long term and medium term loan to the industries and also work for their development. These banks help industries in sale of their shares, debentures and bonds. They give loan to the industries for the purchase of land and machinery. AGRICULTURAL BANKS Agricultural banks are those banks that give credit to agricultural sector of the economy. SAVING BANKS The principle function of these banks is to collect small savings across the country and put them to the productive use. In India department of post office functions a savings banks. CENTRAL BANKCentral Bank is the apex bank of the banking system of the country. It issues currency notes and acts a banker's bank. Economic stability is the principle function of this bank. In short, it regulates and controls the banking system of the country. RBI is the Central Bank of India. PRIVATIZATION OF INDIAN BANKING For the public sector banks, the era of bumper profit is over. For much of the last decade the process of collaborated financial liberalization had cleared up the Bank’s balance sheet enabling them to with stand increased competition, global financing, turmoil and even unprotected industrial slow down.But the cycle of liberalization has run its full course. Now it is the time for the big structural leap, rationalization, mergers, and privatization. Unless the banks undertake these fundamental changes, their profit will stay under pressure. There are twp areas of competitions which banking industry is facing internationally and nationally. In the pre-liberalization era, Indian banks could grow in a closed economy but the banking sector opened up for private compe tition. It is possible that private banks could become dominant players even within India.It has been recorded a rapid rise of the new private sector banks and it has tracked the transformation of the public sector banks as they grapple with the changes of financial deregulation. Use of ATM cards, Internet Banking, Phone Banking, Mobile Banking are the new innovative channels of banking which are being widely used as they result in saving both time and money which are two essential things that every one is short of and is running to catch hold of them. Moreover private sector banks are aligning its infrastructures, marketing quality and technology to build deep commitment in building consumer and retail banking.The main focus of these banks is on innovative range of services or products. STRUCTURE OF BANKING SYSTEM Different countries of the world have different types of banking systems. However, commercial banking had grown under all these banking systems. To understand the structu re of banking system, let us take up various types of banking systems one by one. These types are: (1) UNIT BANKING Unit Banking originated in the United State of America. It grew in the United States of America. As a counter part of independent or industrial units. An independent unit bank is a corporation that operates one office and that is not related to other banks through either ownership or control. Shaper, Solomon and White. Thus under unit banking, a single bank is a complete organization in itself having its own management. The scale of operation is small and the area is restricted to a locality only. Unit banking is localized banking and is much more responsive to the needs of the locality. It has better understanding of the local problems and conditions, which helps it to cater to the needs of the area in a better way.The staff of the unit bank is generally local and is in a better position to determine the standing or desirability of the customers. The failure of the un it bank will not endanger the banking system and economy. It is free from the difficulties and diseconomies of large scale operations. It will not drain out the financial resources of villages and small towns to big industrial centers and will ensure a balanced growth. (2) BRANCH BANKING: Economic and Managerial problems faced by the unit banks let to the emergence of banking system. Now, This the most popular and important banking system.In branch banking, a bank has a large network of branches scattered all over the country. Branch banking developed in England. Subsequently most of the countries of the world adopted the system. In terms of branches, the State Bank of India has emerged as one of the largest banks in the world. As under the system the resources of a number of branches get pooled under the same management, any individual branch is in a better position to face excessive withdrawals by the customers. It facilitates diversification of activities because the area covered by the branches is generally widespread.Under the system branches can operate without keeping large idle cash reserves. It becomes possible for the bank to hire the services of competent and professionally qualified managers, capable of understanding the handling technical problems and complex situations. The cost of remitting or transferring funds from one place to another works out to be less. The staff stays at a branch only for a limited period, so the chances of objective decision making in the branch banking are high. Branch Banking tends to bring homogeneity in the prevailing Interest Rates as it increases the mobility of resources from one place to another.It is easier for the Central Bank to exercise Control. It will communicate only with a few Registered /Head Offices of the Banks and not with each individual branch. In this system there more safety and liquidity of funds. The choice of securities and investments is larger. Branch banking makes complete banking services a vailable to the smallest communities. The branches in small localities can be initially operated at loss in expectation of future gains. The comparative study of unit banking and branch banking is a case of small scale banking versus large scale banking. It is evident that the scale is clearly titled towards branch banking.With the growth of large scale business it is no wonder that the trend is almost every country towards the branch banking i. e. big banks with a network of branches all over the country. Even in the U. S. A. The birthplace of unit banking. The Bank of America has now more than 500 branches in the state of California itself. (3) CHAIN BANKING : Shaper, Solomon and White have defined Chain Banking as â€Å"An arrangements by which two or more banks –each of which retains its identity, capital and personnel –are brought under common control by any device other than a Holding Company. † Under the system there is pooling of resources.Chain banking overcomes certain limitations of unit banking. But the system suffers from certain limitations of its own. There may be a lack of co-ordination, proper control etc. The system is inflexible. (4) GROUP BANKING : It is similar to Chain Banking, the difference being that under Group Banking two or more banks are brought under the control of the same management through a Holding Company. Both the systems aim at gaining the advantages of large scale operations. The banks are able to pool their resources in case of emergency or when large amount of cash is required to meet the loan requirements of the customer.The advantages and disadvantages of both the systems are similar. Both the systems developed in the United State of America as a result of attempts to overcome the difficulties or limitations of unit banking. (5) CORRESPONDENT BANKING: Under Correspondent banking, small banks serving local communities hold deposits with joint banks serving in big cities. This kind of banking is prev alent in U. S. A. The correspondent banks perform two important services of outstation cheque clearing and loan participation for the respondent banks while they benefit for the deposit funds of respondent banks.A) COMMERCIAL BANKS [pic] PRIMARY FUNCTIONS : 1) Accepting of Deposits : A bank accepts deposits from the public. People can deposit their cash balances in either of the following accounts to their convenience:- a. Fixed or Time Deposit Account : Cash is deposited in this account for a fixed period. The depositor gets receipts for the amount deposited. It is called Fixed Deposit Receipt. The receipt indicates the name of the depositor, amount of deposit, rate of interest and the period of deposit. This receipt is not transferable.If the depositor stands in need of the amount before the expiry of fixed period, he can withdraw the same after paying the discount to the bank. b. Savings Account : This type of deposit suits to those who just want to keep their small savings in a bank and might need to withdraw them occasionally. Banks provide a certain rate of interest on the minimum balance kept by the depositor during the month. c. Current Account : This type of account is kept by the businessman who are required to withdraw money every new and then. Banks do not pay any interest on this account.Any sum or any number of withdrawals can be presented by such an account holder. 2) Advancing of Loans : The bank advances money in any one of the following ways. a. Overdraft Facilities : Customers of good trading are allowed to overdraw from their current account. But they have to pay interest on extra amount they have withdrawn. Overdrafts are allowed to provide temporary accommodation since the extra amount withdrawn is payable within a short period. b. Money at Call : It is the money lent for a very short period varying from 1 to 14 days.Such advances are usually made to other banks and financial institutions only. Money at call ensures liquidity. In the Inte rbank market it enables bank to make adjustment according to their liquidity requirements. c. Loans : Loans are granted by the banks on securities which can be easily disposed off in the market. When the bank has satisfied itself regarding the soundness of the party, a loan is advanced. d. Cash Credit : The Debtor is allowed to withdraw a certain amount on a given security. The debtor withdraws the amount within this limit, interest is charged by the bank on the amount actually withdrawn. . Discounting Bill of Exchange : It is another method of making advances by the banks. Under this method, bank give advance to their clients on the basis of their bills of exchange before the maturity of such bills. f. Investment in Government Securities : Purchasing of government securities by the banks tantamount to advancing loans by them to the Government. Banks prefer to buy government securities as these are considered to be the safest investment. For example : Indira Vikas Patra : It enables the banks to meet requirement of statutory liquidity ratio (SLR) ) Credit Creation :One of the main functions of banks these days is to create credit. Banks create credit by giving more loans than their cash reserves. Banks are able to create credit because the demand deposits i. e. a claim against the bank is accepted by the public in settlement of their debts. In this process the bank creates money. For this reason Prof. Sayers has called bank â€Å"the manufactures of money. † 4) Cheque system of Payment of Funds A cheque, a negotiable instrument, which in fact is a bill of exchange, drawn upon a banker, is the most popular credit instrument used by the client to make payments.Cheque system is the main credit instrument in the banking world. Although a cheque is not a legal tender money, the serves as a medium of exchange in a limited way as it is a negotiable instrument. Because of â€Å"clearing houses† and â€Å"clearing† operations of the banks, cheques can be and are used for transferring funds from one centre to another. In the modern days they can also be used for transferring funds from one country to another. SECONDARY FUNCTIONS Besides the above primary functions, banks also perform may secondary functions such as agency functions, general utility and social functions.A) Agency Functions Banks act as agents to their customers in different ways :- i) Collection and Payment of Credit and Other Instruments: The Commercial banks collect and pay cheques, bills of exchange, promissory notes, hundies, rent, interest etc. On behalf of their customers and also make payments of income tax, fees, insurance premium etc. on behalf of the customers. Customers can leave standing instructions with the banker for various periodic payments ensuring the regular payments and avoiding the trouble of performing it themselves. ii) Purchase and Sale of Securities : The modern ommercial banks also undertake the purchase and sale of various securities like shares, stocks, bonds units and debentures etc. On behalf of the customers, banks do not give any advice regarding the suitability or otherwise of a security but simply perform the functions of a broker. iii) Trustee and Executor : Banks also acts as trustees and executors of the property of their customers on their advice. Sometimes banks also undertake income tax services on behalf of the customers. iv) Remittance of Funds : The Commercial banks remit funds on behalf of clients from one place to another through cheques, drafts, mail transfers etc. ) Representation and Correspondence : Sometimes commercial banks acts as representatives or correspondents of the clients especially in handling various applications. For instance, passports and travel tickets, booking of vehicles, plots etc. vi) Billion Trading : In many countries, the commercial banks trade is billions like gold and silver. In Oct 1997, 8 banks including SBI, IOB, Canara Bank and Allahabad Bank have been allowed import of gold which has been put under open general licensed category. vii) Purchase and Sale of Foreign Exchange : Banks buy and sell foreign exchange, promoting international trade.This function is mainly discharged by foreign Exchange Banks. viii) Letter of References : Banks also give information about economic position of their customers to domestic and foreign traders and vice versa. B) GENERAL UTILITY SERVICES In addition to agency services, banks render many more utility services to the public. These services are :- i) Locker Facilities : Banks provide locker facilities to their customers. People can keep their valuables or important documents in these lockers. Their annual rent is very nominal. ii) Acting as a referee : It desired by the customers, the bank can be a referee i. . who could be referred by the third parties for seeking information regarding the financial position of the customers. The bank will acts as referee only and only if it is desired by the customer, o therwise the secrecy of a customers is account is maintained very carefully. iii) Issuing letters of credit : Bankers in a way by issuing letters of credit certify the credit worthiness of the customers. Letters of credit are very popular in foreign trade. iv) Acting as Underwriters : Banks also underwrite the securities issued by the Government and Corporate bodies for a commission.The name of bank as an underwriter encouraged investors to have faith in the security. v) Acting as information banks : Commercial banks also acts as â€Å"information† bureau as they collect the financial, economic and statistical data relating to industry, trade and commerce. HDFC Bank is providing information relating to NRI Schemes and commentaries of experts on development in the areas of finance through Internet. vi) Issuing Traveler’s cheques and credit cards : Banks have been rendering great service by issuing traveler’s cheques, which enable a person to travel without fear o f theft or loss of money.Now, some banks have started credit card system under which a credit card holder is allowed to avail credit from the listed outlets without any additional cost or effort. Thus, credit card holder need not carry or handle cash all the time. Now, international credit cards are joining hands with Indian Banks. vii) Issuing of gift cheques: Certain banks issue gift cheques of various denominations, e. g. Some Indian banks issue gift cheques f the denominations of Rs. 21, 31, 51 and 101 etc. They are generally issued free of charge. viii) Dealing in Foreign Exchange: Major branches of commercial banks also transact business of foreign exchange.Commercial banks are the main authorized dealers of foreign exchange in India. ix) Merchant banking Services: Commercial banks also render merchant banking services to the customers. They help in availing loans from non-banking financial institutions. x) Help in Transportation of Goods: Big businessmen or industrialists aft er consigning goods to their retailers send the Railway Receipt (Consignment Note) to the bank. List of Public Sector Banks o State Bank of Bikaner & Jaipur o State Bank of Hyderabad o State Bank of Indore o State Bank of Mysore o State Bank of Saurastra State Bank of Travancore Other Nationalised banks are: †¢ Allahabad Bank †¢ Andhra Bank †¢ Bank of Baroda †¢ Bank of India †¢ Bank of Maharastra †¢ Canara Bank †¢ Central Bank of India †¢ Corporation Bank †¢ Dena Bank †¢ Indian Bank †¢ Indian Overseas Bank †¢ Oriental Bank of Commerce †¢ Punjab & Sind Bank †¢ Punjab National Bank †¢ Syndicate Bank †¢ UCO Bank †¢ Union Bank of India †¢ United Bank of India †¢ Vijaya Bank List of Private Sector Bank †¢ Bank of Punjab †¢ Bank of Rajasthan †¢ Catholic Syrian Bank †¢ Centurion Bank †¢ City Union Bank †¢ Dhanalakshmi Bank †¢ Development Credit Bank †¢ Fede ral Bank †¢ HDFC Bank ICICI Bank †¢ IDBI Bank †¢ IndusInd Bank †¢ ING Vysya Bank †¢ Jammu & Kashmir Bank †¢ Karnataka Bank †¢ Karur Vysya Bank †¢ Laxmi Vilas Bank †¢ South Indian Bank †¢ United Western Bank †¢ UTI Bank List of Foreign Banks in India †¢ ABN-AMRO Bank †¢ Abu Dhabi Commercial Bank †¢ Bank of Ceylon †¢ BNP Paribas Bank †¢ Citi Bank †¢ China Trust Commercial Bank †¢ Deutsche Bank †¢ HSBC †¢ JPMorgan Chase Bank †¢ Standard Chartered Bank †¢ Scotia Bank †¢ Taib Bank Upcoming Foreign Banks In India [pic] |[pic] | By 2009 few more names is going to be added in the list of foreign banks in India.This is as an aftermath of the sudden interest shown by Reserve Bank of India paving roadmap for foreign banks in India greater freedom in India. Among them is the world's best private bank by Euro Money magazine, Switzerland's UBS. The following are the list of foreign b anks going to set up business in India †¢ Royal Bank of Scotland †¢ Switzerland's UBS †¢ US-based GE Capital †¢ Credit Suisse Group †¢ Industrial and Commercial Bank of China Merrill Lynch is having a joint venture in Indian investment banking space — DSP Merrill Lynch. Goldman Sachs holds stakes in Kotak Mahindra arms.GE Capital is also having a wide presence in consumer finance through GE Capital India. India's GDP is seen growing at a robust pace of around 7% over the next few years, throwing up opportunities for the banking sector to profit from. The credit of banks has risen by over 25% in 2004-05 and the growth momentum is expected to continue over the next four to five years. Participation in the growth curve of the Indian economy in the next four years will provide foreign banks a launch pad for greater business expansion when they get more freedom after April 2009. Objectives of the StudyThis study has been conducted with a variety of importa nt objectives in mind. The following provides us with the chief objectives that have tried to achieve through the study. The extent to which these objectives have been met could judged from the conclusions and suggestions, which appear in the later of this study. The Chief Objectives of this study are: 1. To find the bank sector that is largely availed by the customer. 2. To study the factors the factors influencing the choice of a bank for 3. availing services. 4. To find and compare the satisfaction level of customers in public sector 5. s well as in private sectors bank. 6. To study the problem faced by customer. 7. To get suggestions for improvement or change in the services of public and private sector banks. 8. To study what do people expect in the new era of banking. RESEARCH METHODOLOGY Research is an art of scientific investigation. In other word research is a scientific and systematic search for pertinent information on a specific topic. The logic behind taking research me thodology into consideration is that one can have knowledge about the method and procedure adopted for achievement of objectives of the project.With the adoption of this others can evaluate the results also. Its main aim is to keep the researchers on the right track. The methodology adopted for studying the objectives was surveying the saving account holders of District Jalandhar. So keeping in view the nature of requirements of the study to collect all the relevant information regarding the comparison of saving account of Centurion Bank of Punjab with other banks, direct personal interview method with structured questionnaire was adopted for the collection of primary data. Secondary data has been collected through the various magazines and newspapers and by surfing on Internet.And the guide in the organization was consulted at many times. SAMPLE DESIGN:-A sample design is a definite plan for obtaining a sample from a given population. It refers to the techniques or the procedure th e researcher would adopt in selecting items for the sample. Sample design may as well lay down the number of items to be included in the sample i. e. , the size of the sample. Sample design is determined before data are collected. Here we select the population as sample in our sample design. The selected respondents should be as representatives of the total population.POPULATION:- The persons holding saving account related to business class of District Jalandhar were taken into consideration. DATA COLLECTION Data was collected by using main two methods i. e primary data and secondary data. PRIMARY DATA Primary data is the data which is used or collected for first time and it is not used by anyone in the past. There are number of sources of primary data from which the information can be collected. We choose the following resources for our research. QUESTIONNAIRE:-This method of data collection is quite popular, particular in case of big enquiries.Here in our research we set 15 simple questions and request the respondents to answer these questions with correct information. RESPONDENTS:-Respondents helps in creation of more accurate idea about our research. We personally meet the respondents inside and outside the banks. SECONDARY DATA Secondary data is the data which is available in readymade form and which is already used by people for some purposes. There may be various sources of secondary data such as-newspapers, magazines, journals, books, reports, documents and other published information.BANKS ANNUAL REPORTS:-Banks issues there annual reports to get the people informed with the profitability and growth of the bank. These annual reports helps us a lot to get the latest data and other related information for our research. It tells us about the increase or decrease in profits and other facilities. JOURNALS AND PUBLICATIONS OF DIFFERENT BANKS :- We also take into consideration the journals and publications issued by the bank at different times. we comes to kn ow about the Branches, ATM, locations and other useful information.MANUALS AND BROACHERS OF DIFFERENT BANKS:-We take the help of bank staff and other people who gives us deep information and data which may not be available at anywhere. They gives us there full co-operation. INTERNET:-We also take into consideration the internet facility with which we collect lot of latest information. SAMPLE PLAN : ? SAMPLE SIZE: Keeping in mind all the constraints the size of the sample of the study was selected as 80. ? SAMPLING UNIT:- Centurion Bank of Punjab Branch in Jalandhar city. Due to nature of study, we also visited various different banks ICICI, HDFC, SBI, PUNJAB NATIONAL BANK etc. f Jalandhar District. ? SAMPLING TECHNIQUE:- Stratified convenient sampling. All the saving account holders were taken into consideration. Research was conducted on clear assumptions that the respondents would give frank and fair answers in a pragmatic way and without any bias. ? SAMPLING DESCRIPTION:- In orde r to understand the nature and characteristics of various respondents in this study, the information was collected and analyzed according to their socio economic background which included the characteristic of their respondents like education, age marital status and monthly income.This description shows that respondents included in this survey belong to different backgrounds and this turn increase the scope of the study. PERSONAL DETAIL AGE |Particulars |%age of Respondent | |20-30 years |20% | |30-40 years |50% | |40-50 years 20% | |50-60 years |10% | [pic] Analysis & Interpretation: From the above study we find that nobody is below 20 age and 20% respondents are between 20-30 age group, 50% respondents are between 30-40 age group, 20% respondents is between 40-50 age group and 10% respondents are between 50-60 age group. SEX Particulars |No of Respondent |%age | |Male |70 |70% | |Female |30 |30% | |Total |100 |100% |Analysis: From the above result we come to know that out of 100, 62 respondents are male and 38 are female which is 62% and 38% are respectively. Interpretation: From the above data we conclude that most of our respondents are male. MARITAL STATUS Particulars |No of Respondent |%age | |Married |33 |33% | |Unmarried |67 |67% | |Total |100 100% | [pic] Analysis: From the above study we find that out of 100%, 33% respondents are married and 67% respondents are unmarried. Interpretation: Most of the respondents of our survey are Unmarried. Q4: HIGHEST EDUCATIONAL QUALIFICATION:- Particulars |No of Respondent |% age | |Matric |4 |4% | |Senior Secondary |14 |14% | |Graduate |46 |46% | |Post graduate | 36 |36% | | Total |100 |100% | [pic] Analysis: This analysis shows that out of 100 respondent, 46% respondents are graduate & professional, 36% respondents are post graduate, 14% respondents are senior secondary and 2% respondents are of Matric category. All the respondents of our survey are qualified. Interpretation: From the above data we conc lude that most of our respondents are Graduates & professional degree holders.OCCUPATION |Particulars |No of Respondent |%age of respondents | |Businessman | 32 |32% | | Government Employee | 28 |28% | | Student | 24 |24% | | Others |16 |16% |Analysis: From the above analysis it is clear that 32% respondents are doing their own business, 28% are employees and 16% respondents belong to other category And 24% of our respondents are students. Most of the respondents of our survey are Businessmen. Interpretation: From the Above data we conclude that most of our survey respondents are businessmen. DATA COLLECTION: Data was collected using two main methods: COLLECTION OF DATA LIMITATIONS OF THE STUDY Due to constraints of time and resources, the study is likely to suffer from certain limitations. Some of these are mentioned here under so that the findings of the study may be understood in a proper perspective. The limitations of the study are: Some of the respondents of the survey were un willing to share information. ? The research was carried out in a short period of 6 weeks . Therefore the sample size and other parameters were selected accordingly so as to finish the work within the given time frame. ? The information given by the respondents might be biased because some of them might not be interested to give correct information. ? The officials of the bank supported me a lot, but did not have sufficient time to make the points more clear. Analysis of Data collected 1. The respondents were asked about which banking sector’s services do their avail. Table1: banking sector’s services which the respondents avail. Banking sector |Number of respondents | |Public |32 | |Private |38 | |Both |30 | Graph 1: Banking Sector’s services which the respondents avails INTERTRETATION:-It was found that most of the respondents were availing services of private sectors banks while those of the public sector banks were less as compare to public sector 2. The res pondents were Asked about the type of account they have in the public sector as well as Private sector banks Table 2. 1 Number of type of account held in Public sectors banks Type of Accounts Name of Account |Savings |Current |Demat |Fixed deposits |Salary | |Total no of respondents |50 |15 |6 |15 |14 | [pic] Graph 2. 1 :- Number of type of accounts held in Public sector banks Analysis: 50% people own Saving Account, 15% own Current account, 6% demat,15% fixed deposits account and 14% salary Account Interpretation: It was found that in case of public sector banks, maximum number of account holders owns Saving Account. After Saving account most prefer account is salary account prefer by people and the next priority goes to fixed deposits Accounts. 3. The basic purpose of this question was to know the most preferred bank. Table 3. Number of respondents preferring different banks Names of Banks |Number of respondents | |ICICI Bank |24 | |HDFC Bank |22 | |State Bank Group |20 | |Pu njab National Bank |28 | |Punjab And Sind Bank |6 | Analysis: From above graph, it is seen that 28% stake of the respondents follows to Punjab National bank followed byICICI bank. It is the bank which provide 12-hour banking. also the ATM machine is more as compared to the other private sector banks. Interpretation : From the above graph, it is seen that Punjab national is the most preferred bank as compared to other Public and Private sector Banks. The reason for preference of public sector bank is the minimum amount of deposit for saving account. 4. The aim to ask this question was to know he reasons for their preference in different banks :- Table 4:- Reason for account in different banks Reasons |No of respondents | |Friendly Behaviour of the Staff |16 | |Reliability/trust |14 | |Quick and fast services |55 | |Location |15 | Graph 4:-Reasons for account in different banks Inpretation: By analyzing this graph, we can conclude that most of the people is influenced by the qui ck and speedy services provided by the bank and location is given less preference than others. 5. The respondents were asked about the facilities they were availing in public as well as private sector banks :- Table 5. Number of people availing different facilities at public sector banks: |Facilities Availed |No of respondents | |ATM/Debit card |60 | |Demat |5 | |Internet/Mobile/Phone Banking |15 | |Insurance |20 | [pic]Graph 5. 1: Number of people availing different facilities at public sector banks Interpretation: From the above graph, it was found that was availed by most of the people at public sector banks was that of ATM/Debit cards which hold 90% of respondents. It is clearly observed by the graph that Insurance are neck to neck holding 20% of respondent each. 6. The purpose of this question is to know the satisfaction level they were having with their banks overall performance:- Public sector banks Table 6. 1 Satisfaction level of the customers regarding the facilities availed from the public sector banks |Level of Satisfaction |No. f respondents |%age | |Excellent |12 |24% | |Good |21 |42% | |Very Good |27 |54% | Graph 6. 1 Satisfaction level of Customers regarding the facilities availed from the public sector banks. Analysis: It was found that in case of public sectors banks, 18% of the respondents were highly satisfied ranked excellent from the products and services availed by them. 44% were just satisfied given very good and 38% have moderate view. Interpretation: People have mixed type of view regarding public sector banks. 7.The respondents were asked that if they have given option, would they like to shift from the present banks:- Table 7 Number of customers ready to shift from present bank. [pic] Graph 7:- Number of customers ready to shift from their present bank or not. Interpretation: From this above Graph, we can conclude that the number of respondents ready to shift from their present bank is 28% while 70% customers seems to be sat isfied from their bank and hence willing to shift from their present bank to other. 8. The aim to ask this question was to know whether the respondents faces any problem regarding the services provided them by their preferred bank :- Table 8 Problem faced by customers. Types of problem |No of respondents | |Time consuming |10 | |Introduction |8 | |Reference |15 | |Too many formalities |6 | |No facility of photograph instantly |4 | |No problem |6 | [pic] Interpretation: It was found that most of the respondents are facing problem of reference. Respondents also find that the time and too much formalities also cause problem in banks. FINDINGS OF THE STUDY More number of people have account with private banks. ? Majority of the respondents whether in public sectors or in private sector banks have savings account with banks. ? Number of problem faced by the people is more in public sector banks. ? People want a change in the behavior of the staff of the public sector banks. ? People are more satisfied form the private sector banks due to their better services provided by them in terms of speedy transactions, fully computerized facilities, more working hours (in case of ICICI bank, the number of working hour are 12), good investment Advisory services, efficient and co-operative staff, better approach to Customer Relationship Management. In private sector banks proper promotional activities should be taken up so as to make the population aware of the services provided by the banks even in rural areas. ? The facility that was availed by most of the people at public sector banks was that of ATM/Debit cards. The least availed facility was that of Demat account and foreign transfer of funds. ? The facility that was availed by most of the people at private sector banks was that of Internet/Phone banking by ATM/Debit card. ? Majority of respondents do not want to shift from their present bank. ? From the above study it is clear that private banks are providing better services than nationalized banks. 5% respondents favored that private banks are providing better services than nationalized banks while 5% respondents are not agree with it. ? From the above study it is clear that majority of the respondents said that the average balance requirement for operating their saving account is between 5000-10000. 20% said it is between 10000-20000 and remaining 5% said it is between 20000-50000 in private sector banks which as compared to Public sector bank is very high. ? 40% respondents said that the bank employees never pay any attention to them and 10% respondents said that their problems are not solved by bank executives. The remaining 50% respondents give a positive reaction in the favour of bank. 0% respondents favoured that their problems are solved by bank executives and 20% respondents said they are received with smile by bank executives. So there is a mix response. ? Majority of the respondents said that the average time taken for transactions i s between 25 to 50 minutes in their bank. 30% respondents said the average time taken for transaction is between 20-25 minutes, 20% said it is between 10 to 25 min. and remaining 10% said that the average time taken for transaction by their bank is 5 to 10 minutes. ? From the above study is clear that the banks do not organize any customer meets. All the 100% respondents said that their bank does not organize any customer's meets to resolve their problems.Customer satisfaction is the demand of time, so the banks should organize customer meets to resolve the problems of their customers. ? From the above study it is clear that majority of the respondents are ready to pay nominal charges for better services provided by private banks while 40% respondents are not ready to pay any nominal charges. ? The above study depicts that 60% respondent said that their bank updates them time to time about the latest facilities and remaining 40% said that their bank doesn't update them. [pic] SUGGES TIONS Based on the study conducted, There are some of the suggestions given by the customers of how the modern banking should be.These are the comment given by them about the improvement of the banking sector in India. ? Banks should obey the RBI norms and provide facilitiesas per the norms, which are not being followed by the banks. While the customer must be given prompt services and the bank officer should not have any fear on mind to provide the facilities as per RBI norms to the units going sick. ? Banks should increase the rate of saving account ? Banks should provide loan at the lower interest rate and education loans should be given with ease without much documentation. All the banks must provide loans against shares. ? Fair dealing with the customers. More contribution from the employee of the bank.The staff Should be co-operative, friendly and must be capable of understanding the problems of customers ? Internet banking facility must be made available in all the banks. ? P rompt dealing with permanent customers and speedy transaction without harassing the customers ? Each section of every bank should be computerized even in rural areas also. ? Real time gross settlement can play a very important role. ? More ATM coverage should be provided for the convenience of the customers. ? No limit on cash withdrawls on ATM cards. ? The bank should bring out new schemes at time-to-time so that more people can be attracted. Even some gifts and prizes may be offered to the customers for their retention. 24 hours banking should be induced so as to facilitate the customers who may not have a free time in the daytime. It will help in facing the competition more effectively. ? The charges for saving account opening are high, so they should also be reduced. ? Customers generally complain that full knowledge is not granted to them. Thus the bank should properly disclose the features of the product and services to the customers. Moreover door to door services can also be introduced by bank. ? The need of the customer should properly be understood so that customer feels satisfied. The relationship value should be maintained. ? The branch should promote cooperation and coordination among employees which help them in efficient working. Maintenance of proper hierarchy should be done. A good hierarchy set up can ensure better results with in the bank. Banking sector is improving by leaps but still it needs to be improved. Proper and efficient relationship staffs having knowledge for one stop banking, customer friendly atmosphere, and better rate of interest are need of the hour. the concept of privatization has overall improved the services in all the banks. Home banking will be order of the day. Recommendations For Public Sector Banks: †¢ Bank staff should be customer friendly and highly motivated to serve the normal customer. †¢ As far as possible, banks should reduce its documentation process while providing loans. Computerization should be done in banks at all level and the operators should de properly trained. †¢ Token system should be induced so as to minimize the waiting lines in the banks. †¢ Proper ambience in the banks can develop a healthy working culture. †¢ Quick services should be provided. For Private sector Banks †¢ 24 hours banking should be induced so as to facilitate the customers who may not have free time in the day time. It will help in facing the competition more effectively. †¢ More ATM coverage should be provided for the convenience of the customers. †¢ Customer care services should be provided by banks. CONCLUSIONThe customers now days are not only exposed of what type of service is being provided by banks in India but in the world as a whole. They expect much more than what is actually being provided. So the new coming banking sector has to provide and cater to all the needs of the customers otherwise it is difficult to survive in the competition coming up. They no t only expect the safety of money but also best ways to invest that money which need needs to be fulfilled. Banks need to have a better outlook towards to actually what customers are requiring. Entries of the private sector banks have made the competition tougher. If a bank is not functioning properly it is being closed. So it is difficult to face these types of conditions.Here a simple philosophy can work that customers are God and we need to follow this to survive and serve better. The banking sector is poised for explosive growth. In this, scenario, it is imperative that banks adopt technology at an aggressive Pace, if they wish to remain competitive. Mani Mamallan makes a case for banks to outsource their technology infrastructure requirement, thus enabling early adoption and increased efficiencies. In the prevailing scenario, a number of banks have adopt a new deployment strategy of infrastructure outsourcing, to lower the cost of service channels. As a result, other banks too will need to align their reinvented business models. The required changes at both the business and technology levels are enormous.In a highly competitive banking markets, early adopters are profiting from increased efficiencies. BIBLIOGRAPHY BOOKS: ? Kothari C. R. (1990) Research Methodology: Method and Techniques; Wishva Prakashan, New Delhi. ? Bodie. Z, Kane. A & Mracus. J : Essentials of Investments. ? Prof. E Gordon & Dr. K. Natrajan â€Å"Banking Theory Law and Practice†. ? â€Å"Indian financial System & Commercial Banking† by Khan Masood Ahmed ? â€Å"Banking in India† by P. N. Varshney WEBSITES: ? www. centurionbop. co. in ? www. pnbindia. com ? www. statebankofindia. com ? www. icicibank. com ? www. rbi. org. in ? www. iba. org. in ? www. knowledgestom. com ? www. igniter. com BROACHERS & PAMPHLETS Broachers and pamphlets of Saving A/c QUESTIONNAIRE â€Å"Comparative Study on public and private sector banks† Dear customer, We are the students of C. T. I. E. M. T. Shahpur, Jalandhar. We are undergoing the project entitled named â€Å"Comparative Study on public and Private sector banks† So by filling this questionnaire please helps us in completing our project. Q1. Which Sector bank do you have your account? Public (Private( Both ( Q2. In which bank do you have your Account? 1. 2. 3. 4. Q3. Which type of account do you have in the bank? Saving ( Current ( Demat ( F. D ( Salary (Q4 In Case you have yours Account in more than one a Bank which one is your most preferred bank (Give only one bank) Q5. Rank the selection criteria for opening account with bank? Brand Image (Services ( Location ( Charges ( Q6. Kindly rank the reasons for yours preference in this particular bank? Quick and fast services (Location ( Friendly Behavior ( Reliability ( Q7. Which facilities are you availing at your bank? Atm/Debit card ( Credit card ( Insurance ( Mobile Banking ( Q8. How often do you use debit card to shop? Occasionally(Never( Q9. How much Satisfied are you with your bank’s overall performance ? Excellent(Very Good(Good ( Q10. Any Specific services you expect from your bank ? Q11. If an option is given to you, would you like to shift from the present Bank? Yes ( No ( Q12. Do you face any problem regarding the services provided by your preferred bank? If Yes Q13. Would you like to give any suggestions for the better functioning of banks in these sectors? Public Sector Private sector 16. Any other suggestions please specify ? ____________________________________________________________ ____________________________________________________________ Thanks for your valuable time given to us .We assure you that the information provided by you will remain confidential. Thanks for your co-operation. PERSONAL DETAILS. 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