Murphy Case Analysis Essay

Just-In-Time Concept. Just-In-time manufacturing, or JIT, is a management philosophy aimed at eliminating manufacturing wastes by producing only the right amount and combination of parts at the right place at the right time. This is based on the fact that wastes result from any activity that adds cost without adding value to the product. The goal of JIT, is to minimize the presence of non-value-adding operations and non-moving inventories in the production line. This will result in shorter throughput times, better on-time delivery performance, higher equipment utilization, lesser space requirement, lower costs, and greater profits. The key behind a successful implementation of JIT is the reduction of inventory levels at the various stations of the production line to the absolute minimum. This necessitates good coordination between stations such that every station produces only the exact volume that the next station needs. On the other hand, a station pulls in only the exact volume that it needs from the preceding station. In this case, Murphy’s management started the implementation of JIT without wholly understanding the concept; the poor performance was caused by lack of knowledge about JIT and lack of communication/coordination between the departments. Problems at Murphy: The CEO of Murphy Manufacturing liked the idea of JIT (reducing inventory holding cost while improving production efficiency) based on a few books he read, thus he wanted to implement this concept in his company even though the present MRP system had been working very well for a long time. On the other hand, Joe Vollbrach, Vice President of Operations for Murphy Manufacturing, initiated the implementation process based on the way it was working in the book examples he read without doing any feasibility study a or having a complete understanding about how to implement JIT concept in a small manufacturing environment like which Murphy is in. The result is disastrous, purchasing department are constantly ordering  materials at very high cost; the shipping/receiving department are harassed by endless loading/unloading task; production efficiency was down due to lack of production materials and no clear production schedule; sales people has to deal with angry customers because most the order aren’t shipped/delivered on time. General JIT Implementation Guidelines: Since JIT encompasses a number of functional areas of the company, top management support are a must. Full acceptance by top management is required to empower middle management to overcome the inevitable roadblocks in implementation. In this case, John should take the initiative to be the champion of JIT concept and provide the full support for implementation. Second, training and education as a fundamental requirement for JIT implementation in order to promote a significant change in attitude of the workforce that will create an environment conducive to completing the implementation. Training courses should be made available for employees to fully understand JIT concept and harness it. Third, it is important that JIT is seen as a philosophy rather than a set of add-on techniques to current practices. The company must question why and how it uses JIT and be able to figure out the results of undertaking JIT and incorporate them into its marketplace strategy. By adhering to these guidelines on implementation and instill the knowledge of JIT concept to entire employees at Murphy’s, the transition process to JIT will go smoothly and best JIT implementation techniques will be utilized. The pros/cons of implementing JIT in Small Manufacturing Enterprises: Most publications discussing JIT implementation focus on large manufacturing firms, the environment in which the concepts arose. Because of the limitations that small manufacturing enterprises face, which include limited staffing and material resources and reduced bargaining power with customers’ suppliers and financial institutions, it is not clear that all JIT  components are applicable to every environment. Thus choosing the right JIT implementation strategy is crucial for Murphy’s future successes. Most Small Manufacturing Enterprises depend heavily on a few major customers, thus normally suffer fluctuating demand from these key customers. In regard to vendor relationships, their purchase volume is not large enough to give them leverage over their suppliers to purchase in a small batch size with a good quality at a definite time. Compared to large firms, Small Manufacturing Enterprises normally have limited free cash to fund investment in new production concepts or technologies. They also lack bargaining power with their creditors and debtors, and have difficulties in getting loans from financial institution. Hence, forward planning is constrained by cash flow maintenance. Consequently, if Small Manufacturing Enterprises get involved in innovative projects at all, they will focus on projects with short term returns and overlook initiatives promoting long-term results. Small Manufacturing Enterprises also have limited non-cash resources (machinery or people). They do not normally have specific departments such as a training department or an engineering department. With limited management staff there is a small pool for potential champions of new techniques. Also, small firms may be so small that a change in production cannot be implemented without affecting the entire plant. This is another barrier for Small Manufacturing Enterprises to improve their operations as they have to risk the whole factory in order to know whether a certain technique is appropriate or not to the company. Which is very true in this situation, slight modification in any one of the major operation departments, will affect the entire company. Thus, every step has to be carefully analyzed and backup techniques needs to be developed. However, there are also several advantages for small manufacturers compared to big ones. Small firms normally do not have union contracts and usually have fewer problems with resistance to change compared to large companies. A flatter organization is typical in small firms and it fosters more frequent open communication. Therefore, the decision making process is simpler and the result is conveyed faster throughout the employees. Compared to large  firms, small firms are used to working in smaller batches and are more accustomed to a flexible response to demand changes. Problems in Implementing JIT Components: First, Cross training is common for small manufacturers because of the need to cover absent employees from a small labor pool and is also easier to implement than in large companies. The only problem is that extensive training is costly. Small manufacturers may train key employees individually and ask them to impart their knowledge to other worker. In this case, all the middle management can learn about JIT concept then passing it to production employees. Second, most small companies are very dependent on a few major customers. They lack bargaining power with their key customers and will not be able to compel these customers to order on a stable demand rate. The most desirable situation would be the cooperation of their customers in sharing their forecast demand and production schedule. Achieving this may be limited by bargaining power and therefore the result may be production based on inaccurate forecasts resulting in using finished goods inventory as a buffer. Production leveling can be a great barrier for small businesses to fully adopt JIT. Third, JIT Purchasing is normally implemented as the last component, especially for small manufacturers, due toe lack of bargaining power with their suppliers. Small manufacturers normally do not give enough sales to their vendors and are forced to order in large batches and store a large amount of raw material or they will suffer a higher cost to get the materials just-in-time. All these potential problems need to be studied, when implementing the JIT concept at Murphy.

Aztec and Inca Civilizations

I think the Aztecs were more impressive, in one of the captions I read that one of their squares was twice as large as the city of Salamanca surrounded by porticoes daily sixty thousand people are buying and selling all kinds of merchandise that the world has to offer embracing the necessaries things of life. In the same square there are some people who constantly go around watching sells and the measures used for sales these people have been known to go around and stop unfair deals or break the measures completely. The men and women who agree to be sacrificed are thrown to their backs, so they can be sacrificed to their gods and without uttering a word and remaining perfectly still while a priest comes over with a stone knife to cut their heart out. This is one of the things as to why I think the Aztecs were more impressive because of the discipline they had, even when they are having their heart cut out while they are still alive. The boys and girls were brought up differently with a few similarities. The differences for boys were they were expected to have more responsibilities such as growing to become fierce some brave and warriors, fishermen, farmers and craftsmen, like their fathers. The daughters were expected to follow their mothers and work indoors managing the house and raise the children. Something similar both boys and girls had in common was they were taught their responsibilities from a very young age, they were also expected to go to school for at least a little time between the ages ten and twenty, the school the rich or the gifted were able to attend was called calmecac, there was another school that most of the population attended who were not rich or considered gifted, which was called tepochcalli. Their (was little difference) in (Aztec religion and civil society. The tlacatecuhtli or â€Å"chief of men† controlled all the religious ceremonies) who (was also the military leader under the tlacatecuhtli were several religious and other offices which included military generals. Priests and priestesses were very important in society they acted as) scientists (and) doctors, and (taught science, art, music, dance, history, and counting. They also knew astronomy and astrology. They had to perform) very (difficult ceremonies). (Religion played an important part in Aztecs lives and was very complicated because they adopted many of the) aspects of the (people they conquered. They had three dominate gods: Huitzilopochtli, (â€Å"Hummingbird wizard† the native and) the (chief god of the tenochca, Huitzilopochtli was the war and sun god), Tezcatlipoca (â€Å"smoking mirror† chief god of the Aztecs in general) and Quetzalcoatl (â€Å"sovereign plumed serpent† widely worshipped throughout Mesoamerica and the god of civilization, priesthood and learning). Below these three gods were four creating gods who kept themselves from the human world. Under these were a large number of other gods, the most important) was (tlaloc, the rain god); chalihuitlicue, (the god of growth and Xipe, the â€Å"flayed one† a god connected with spring. The Aztecs worshipped about) one thousand (gods, but the sun god was the most important. Religious ceremonies were held in a temple called a teocalli. The temples had pools for ceremonial cleansing, gardens, living quarters for a priest, and racks to hold the skulls of victims. The most prominent part of Aztec religious life was the role of human sacrifice. It was practiced in all of Mesoamerica but the) tenochca (used sacrifice on a grand scale. We don’t know a great deal about the details, but we can successfully reconstruct its character and justification with a high level of accuracy).

Experimental Psychology Essay

Remembering has to do with being able to recall information, being able to retrieve information kept in the log-term memory. Forgetting occurs when information that was encoded and kept in a person’s long-term memory is lost. This may occur gradually or spontaneously. Repeating or reviewing information reduces forgetting rates. Theories of forgetting include cue-dependent forgetting, organic, trace decay, interference theories and decay theory. Retroactive interference is when the past memory interferes with the later memory; Recalling depends on memory, retrieving the material that was learned. It is closely related to recognition, being in a position to spot any material that one has once encountered. It is thought that the rate of forgetting is highest soon after the learning task is over. This rate is believed to be the highest on the first day but even after the first two weeks, this rate is likely to be high still. However, if an individual persistently and consistently covers or carries out the similar activity after two weeks, there are low chances of forgetting. It is also thought to be easier to remember what someone has read than what the person has heard (Fred, 2002). Causes of Forgetting Forgetting is associated with retroactive interference in which case something new that has been learned usually affects something that was learned some time earlier. In this case, whatever is learned anew interferes with what was learned long ago. The other cause is interactive interference in which case the new and old knowledge tend to mix and interfere with any new learning that might take no place or recall of any new knowledge. Proactive interference happens when information learned earlier on interferes with the learning of any new knowledge. The last cause of forgetting is reactive interference which occurs when either positive or negative feelings or attitudes that a person holds for sometime prevent an individual from learning new information (Eric, 2004). Once material is learned, it is important that it be repeated to memorize fully. Most things that an individual does not intend to remember at first are easily forgotten. Memory and forgetting are closely related as they are all determined by what experience an individual goes through at a certain time. Techniques for Remembering The individual should emphasize on concentration. This means creating and sustaining attention while doing a certain activity. There should be no form of distraction, whatsoever to the individual. To concentrate effectively, a person is supposed to identify anything that will cause distraction while concentrating and try to eliminate or evade the distracting agent. This may be either internal or external interference. Internal distractions can be dealt with by writing down the distractions on a piece of a paper and dealing with them later. External distractions can be handled by avoiding them physically as they are in the environment. It is important to comprehend information as this could assist in the remembering process. Comprehending entails getting actively interested in what one is doing. Memory assists much in remembering what has been learned in a certain period of time. Memory can be improved by sharpening on what has already been learned. Memory is perfected through work with passage of time. Sufficient concentration on what is being done also helps to sharpen memory. It has been discovered that forgetting forms part of remembering. There exist some competing memories in human beings. For memory to function well, the brain has to actively block competing memories. The kind of forgetting that is induced is of great benefit as it assists to suppress the competing memories (Gresham, 2002). Writing Research Reports A research report is written aimed at giving people a chance to read the work you have done selectively. The paper will be read by various individuals; some of them are likely to be looking for just sections within that paper hence the report has to be organized in a sequence so as to give the potential readers an easy time looking for what they want in your paper. A research report is made up of various parts. However a standard research report is made up of such parts as highlighted below. Each of the sections of a research report is supposed to begin on a new page. Various articles, journals have different contents and others deviate from the normal way of writing a report. The following sections are however generally considered as being key and must be included in the form given below. Title page, then the abstract, the introduction is to be next followed by materials and methods used in the report. The results for the report project are to come next followed by a discussion basing on the results of the report. The literature cited is to come just after the discussion. Examples to illustrate what the report is about are to come afterwards. Some journals however tend to emphasize that a summary be included in the report just after the discussion. It is also possible that appendix having equations, calculations and formulas can be included in the report as other technical articles do. The above order is the standard order as the sections of the report are supposed to follow each other (McMillan, 1994). While writing a research report, it is important that paragraphs be used in separating major points. These should be in a logical order and present tense has to be used in describing what is already established. Past tense has to be used in giving results relating to your own specific experiments. The title page is supposed to have a relevant topic that will inform the reader what to expect in the report. This should have names as well as addresses related to the author together with the date when the report was handed in. The abstract is supposed to give a summary of what the study is all about, important conclusions from the study and this is to be brief, only a paragraph. It is to be written in past tense. The introduction is supposed to show why the study was carried out, how relevant the report is, how the aim of the experiment and the results relate to the thesis. It should not be as conclusive as the main body is to expound much. Methods and the materials give a documentation of main procedures in the study and this enables the other person reading your work to reproduce the work, if they so want to. It should be in past tense. Only information that is relevant to the intended party is included. In the results, an analysis has to be done and data presented as a table, graph or in narrative form, with the heading. It should be changed data. The relationship of sections within the converted data has to be described vividly. In the discussion part, the data is interpreted. Give a decision on whether your theory is supported or not. Make a relevant conclusion and explain if any modifications can be done to test your hypothesis. It is important to explain the observations very clearly and these should base on relevant principles. Any data that you generate ion your own has to be clearly distinguished from that gotten from a published material (Joyce, 2002). Give a clear decision on whether design supported the experimental hypothesis. Literature cited involves the material cited within the report, names of authors in alphabetical order. Here, only primary material is used. Where no references were used in the report, state so. References Eric, M. (2004). Educational Psychology. Washington: World ahead Publishers. Fred, R. (2002). Critical and Creative Thinking: Cases. New York: Prentice Hall. Gresham, P. (2002). Modern online auctioning. Ottawa: Heril. Joyce, J. (2002). How to Write a Research Paper. California: Cahners Publishers. McMillan, N. (1994). Paper writing in Biological Sciences (2nd edition). New Jersey: McGraw- Hill.

Discussion Question 2 Week 7 Assignment Example | Topics and Well Written Essays - 250 words

Discussion Question 2 Week 7 - Assignment Example Another alternative distribution strategy is to talk with department stores and jewelry stores and offer the jewelries on consignment basis. One considers the above-mentioned distribution strategies as most effective for custom designed jewelry. It will reach the target market that one envisions to be. The distribution strategies for broadcast and cable TV, internet programming and advertisers all use the web to effectively distribute their products. Since almost all people worldwide use the internet, it would be best for these companies to use to their advantage the distribution strategy offered by e-commerce. Social networking sites are also utilized by some of these companies to distribute their products. These strategies might converge through partnerships with other distribution outlets available in the internet. Having their own websites is a valuable distribution strategy that companies in high-technology industries can use. Through these websites, they can better sell their products and services because they can explain in detail the technology and processes involved in their

Reading Reflection Essay Example | Topics and Well Written Essays - 750 words - 3

Reading Reflection - Essay Example In the same note, applying critical appreciation in the course of the reading, one has to be aware of the historical context of the text. It must be duly noted that the story was written in 1894. Dismissing this fact would yield confusion to the reader if to be taken within the understanding to today’s standards. This significant piece of work can easily be associated to a feminist reading with the patriarchal concept of a traditional family in mind. The story opens with a quick and stimulating fact that was to develop the theme of the text. The story begins with the disclosure of the heart ailment of Mrs. Mallard and the apprehension to reveal to her the news of her husband’s death in a railroad mishap. Immediately, the audience is revealed to the circumstances of the characters with Louise being married to Brently Mallard with no indication of a child produced between them. The news of her husband’s death was given to her in a very calculated manner as her sist er Josephine and close friend Richards were afraid how she will take the news. Also, they fear that it might cause her to break down and that her heart ailment may get the best of her. The characterization of Mrs. Mallard was established in her reaction to the news. â€Å"She did not hear the story as many women have heard the same, with a paralyzed inability to accept its significance† (Chopin, 1894). This indicates the fact that she is not like everybody else. The author gives the sense that Mrs. Mallard is different from the typical wife as portrayed in society. The conventional depiction is that of a woman who would not be able to get over the grief over the lost of a member of her family particularly of her husband. Culture tells us that women during those times were subservient to the needs of the husband. Inculcated was the notion of the typical wife who serves as the homemaker ready to serve her husband and to answer for his every need. This is the concept of a tradit ional family that we know. But Mrs. Mallard was different. Her reaction to the death tells us that there is more to the desires and wants that she would like that transcend the kitchen of her house. Right after the ‘storm of grief’ and her immediate tears, Mrs. Mallard wanted to go to her room alone. The succeeding scene painted a metaphor for her newfound liberty. A window is opened and she looks beyond it and saw sparrows and the clouds. Suddenly, everything was more vivid. She was made aware of the freedom of the birds and the color of the sky as though she had never noticed them before. The twittering of the birds and the blue sky ahead of the cloud was revealed. She props herself in a chair and looks out, here the author gives a more or less physical description of her. The narrator of the story speaks of a calm and young woman reflecting a â€Å"suspension of intelligent thought† (Chopin, 1894). This builds up the prospect of a woman who has her whole life ahead of her beyond the tragedy of being a widow, a whole life on her own without a husband to think about. The death served as her epiphany. This reinforces the implied truth that their union is not a happy one. There are many ideas that they be attributed to the cause of this. For instance, the marriage may be forced and that there is really no love or the concept thereof that we have, at one point she thought of her love for him as being fleeting at infrequent moments. The probability of

Does Cohabitation build a stronger, more successful marriage Term Paper

Does Cohabitation build a stronger, more successful marriage - Term Paper Example This means that experience of children with cohabitation should stay fairly low, cohabitation should often switch into marriage, and the standard length of a phase of cohabitation should be quite short (Manning 1995). Even though Casper and Bianchi (2002 as cited in Heuveline & Timberlake 2004) differentiated between antecedent to marriage and ‘experimental’ marriage founded on the encouragement of individuals cohabiting in relation to marriage, some researchers differentiate this form of marriage, on the basis of the definite decision to marry and bear a child. Cohabitation is a phase in the process of marriage instead of a preface to marriage when live-in couples who make a decision to have a child fail to sense firmly the accurate timing and order of marriage and childbearing (Brown & Booth 1996). Hence, cohabitation does not necessarily build a stronger or successful marriage. My report makes the following recommendations: If you feel strongly or solemn about marriag e you should perhaps decide not to enter cohabitation before marriage. (1) If ever you decide to cohabit prior to marriage it would be sensible to have a definite knowledge of or plan for your relationship. If either or both of you is/are reluctant to plan about your relationship then it is time to rethink the decision to cohabit. It is better to end a relationship than to cohabit without a definite plan for the future. (2) Marriage is evidently a strong foundation for couples. It is important to have legitimate children. The absence of a committed and stable relationship will put the children at great risk. Definition of Cohabitation Cohabitation is broadly defined as couples living together in a set up similar to married couples (USLegal 2011, para 1). Statutes differ in their definition of cohabitation. A number of state laws declare cohabitation a component of adultery which makes it a criminal offense (ibid, para 1). Cohabitation is defined in one state law as ‘regularly residing with an adult of the same or opposite sex, if the parties hold themselves out as a couple, and regardless of whether the relationship confers a financial benefit on the party receiving alimony. Proof of sexual relations is admissible but not required to prove cohabitation’ (USLegal 2011, para 1). However, Georgia’s law identifies cohabitation as ‘dwelling together continuously and openly in a meretricious relationship with another person, regardless of the sex of the other person’ (ibid, para 1). Popularity of Cohabitation A widespread social pattern of the recent decades is the increase in cohabitation and the drop in marriage. A large number of couples are happy to cohabit (Goodwin et al. 2010). Cohabitation has increasingly been accepted by the society even though it opposes the most basic principles of Christianity. Present-day society rarely differentiates between married couples and cohabiting ones (Manning 1995). Prevalence of Cohabitation Roughly 9% were found in 2002 to be cohabiting, which is identified in the report of Goodwin and colleagues (2010) as an unmarried woman and man living together, while ‘46% of women aged 15-44 were currently married’ (ibid, p. 2). The popularity of marriage is higher among non-Hispanic White women and men than those of non-Hispanic black. Figures for Hispanic women and men

Gay adoption Essay Example | Topics and Well Written Essays - 1500 words

Gay adoption - Essay Example †). This limited scope of adoption is contrary to the legal rights that the validity of gay marriage protects. If the couple find themselves free to openly love one another, why are the laws of the land preventing them from doing what comes naturally to a married couple? That of starting a family. Admittedly, same sex couples are not biologically capable of impregnating one or the other in order to achieve a naturally formed family. We also must admit that as a society there are still millions of children housed in adoption institutions or foster care systems looking for a good home. Good homes are hard to find these days, even with heterosexual couples. So why not give the same sex couples a try? Why not allow them to adopt a child and prove that they too can be exemplary parents to their children, even though they may not share the same bloodline? These adopted children need loving homes, who is to say that a a same sex home cannot provide that? What exactly are the reasons t hat our society still has inhibitions when it comes to allowing same sex couple to adopt? This paper aims to look at the arguments both for and against same sex adoptions with the full intention of providing factual information that will prove that allowing same sex adoptions will prove beneficial to the child and therefore, should be legally allowed across the United States. Let me begin this discussion by presenting the con side of the argument. These arguments range from psychological in nature, all the way to religious defenses. Whatever the argument presented, these non-supporters of the gay adoption cause do so on the same grounds, they are little informed and truly homophobic in nature which is why they are opposed to the love of a same sex couple being shared with a child who wants nothing more than the same. Politicians such as the United Kingdom's Independence party candidate Winston McKenzie has declared that gay adoption should be likened to child abuse and is a violatio n of a child's human rights. Mr. McKenzi claims that there is an abuse of the child's rights because; â€Å"that child has no opportunity to grow up under normal circumstances... There are people out there who bring up their kids encouraging them to believe they are gay themselves. † (Chorley. Matt â€Å"Allowing Gay Couples to Adopt Is a Form of Child Abuse, Says UKIP Election Candidate). It is important to note that Mr. McKenzie is a Christian with anti-gay sentiments therefore same sex adoption was against his religious beliefs. Aside from religious points of view such as Mr. McKenzie's the cause for gay adoption was not helped by the June 29 news that gay father Frank Lombard sexually molested his 5 year old adopted son. Reports coming from the Associated Press indicate that this is a disturbing trend that is emerging from a scientific literature about gay fathers. According to reports: â€Å"The Arrest Warrant documents that Lombard sodomized one of his two adopted Afr ican-American sons and made the boy give him oral sex on-line† (Cameron, Paul Dr. â€Å"Lombard Demonstrates Why Gays Should Not Be Allowed to Adopt†). The main fear of the psychological community is that children in same sex adopted homes are dangerously exposed to child molestation due to the queer lifestyle of the adopted parents. In the peer-reviewed Psychological Reports journal, Dr. Paul Cameron of the

Training and development Essay Example | Topics and Well Written Essays - 1000 words

Training and development - Essay Example This research will begin with the statement that the Human Resource Development process has become an essential component of organizational ascent in the present diverse as well as the global scenario. New skills and learning ability need to be inculcated by the senior HRD managers in their staff in order to achieve success. They need to ensure a continuous and ongoing learning process for the staff to avoid stagnation and rigid ideas. The process itself needs to be applied in a phased manner. The HRD managers should be able to establish a working relationship with the staff and they should possess skills and capabilities to train, coordinate and identify problems faced by the employees in terms of changed scenarios like diversity, global competition, and necessary new skills. They should be able to identify both external and internal factors influencing employee behavior. They should be able to influence employees by leadership qualities and noncoercive methods of persuasion. They s hould use both personal outcomes and organizational outcomes as a motivating factor for the employees. The trainee characteristics and their trainability need to be evaluated and decisions made accordingly. The lack of participation in the training and development programs can be both due to extrinsic and intrinsic factors. The external factors which might have contributed could be the job environment and prospects prevalent in the country in the immediate future, financial strength of the students or fear of enormity/comprehension of the courses offered.

Single-Gender Education is a Viable Option in the Public Sector Research Paper

Single-Gender Education is a Viable Option in the Public Sector - Research Paper Example Overview Gender equity in schools has been another issue as proved in the research conducted by Datnow, Hubbard, & Woody (2001) on gender bias against girls in coeducation schools. The past history on girls’ education has been one of ignoring the useful feedback by the school administration; girls have been found hesitant in taking science and mathematics as subjects at senior level, and face increased fear of sexual harassment. Off late, girls have outshined boys in overall academic performance but certain subjects like computer science and technology majors are still not their favorable choice. There has been ongoing public discussion on â€Å"crisis† for boys too not only because of their low grades on reading and language tests but the danger of their probability towards indulging in crimes, specifically boys of color (Datnow et al., May 2001). In California State, according to Datnow, Hubbard, & Conchas (2001) initiative was taken to draft legislation for funding t he single gender school by the former Governor, Pete Wilson. The analysis of this initiative and its success depends on social economic and political contexts; how one context on single gender education impacts outcomes at different state, city, and school levels. Hall and McGinty (1997, p. 461) have analyzed this interconnected process of implementation of single gender schooling, â€Å"as a web of inter-related conditions and consequences, where the consequences of actions in one context may become conditions for the next.† Legal implications of setting single gender schools started in 1972 when the United States Congress passed Title IX to promote equal education for both the sexes leading to decrease in the number of single-gender public schools (Erling and O’Reilly, 2009).... This report approves that single-sex education has to confirm to the law under the given context. There cannot be a straightforward answer to the question without getting any favorable decision from the Supreme Court on segregation of gender at elementary and secondary level of education. Some researchers have argued that the program can be scrutinized while others are of the view that gender separated public school education is a far cry from legal and constitutional perspective. School leaders need to justify the authenticity of separation of sexes so that judiciary respects their policy in this regard. Secondly, research in the field of social science can help in getting a favorable judicial review on the genuineness of the case for single-gender schooling or lack of related planning. Until the highest court paves the way for gender-based schooling no progress can be made on this front. Comments of Justice Scalia stated in his opposition to the Court’s verdict in U.S. v. Vi rginia are worth consideration This essay makes a conclusion that Justice Scalia thinks there is very little scope left for arguing the case in favor of single-gender education. Any such initiative taken by school authorities can be challenged in the court of law, which could impose heavy penalty in the absence of â€Å"exceedingly persuasive justification† for initiating a gender-based divide in school education. Female teachers acknowledged this fact that they were at ease in talking with girl students over such topics as dating, marriage, and pregnancy.

Global Data Synchronisation for supply chain Case Study

Global Data Synchronisation for supply chain - Case Study Example This technology is significant in hastening a speedy transfer of information from the manufacturer to the retailer. In addition, this technology is important in terms of improving accuracy and security of data (Gopal & McMillan 2005, p.58). This technology is enhanced by the existence of a global network termed as the Global Data Synchronisation Network which is under the management of GS1. This organisation (GS1) is responsible globally in matters dealing with the design and implementing the global standards and solutions necessary to enhance the efficiency and also visibility with regard to supply and demand chains existing across verticals. On another note, this technology is necessary in the sense that, it enables trading partners to have access to product information in real time. In addition, this technology is necessary in a globalized market where obtaining latest information is critical for businesses. For instance, any change made in a firm’s database automatically reflects on other business partner’s database. This is made possible through the GS1 system that relies on the Global Trade Identification Number (Gopal & McMillan 2005, p.62). 2.1 The industries engaging in retail and consumer products recognizes the urgency to change and adopt a technology that would ensure system-system synchronisation with regard to products, price, the location, services and sharing of other information between business partners. In order to achieve this milestone of data synchronisation that involves many systems, standards, businesses data management and electronic synchronisation have emerged as solutions to problems related to data sharing among business partners. Further, this technology is seen as a means to enhance efficiency and hastening responsiveness within the supply chain. With regard to this technology, trading partners can share two forms of data. The first is neutral data that can be shared among many parties and is considered to

Online Resort Reservation and Billing System Essay Example for Free

Online Resort Reservation and Billing System Essay 1. Pelagianism is a theological theory named after Pelagius (AD 354 – AD 420/440), although he denied, at least at some point in his life, many of the doctrines associated with his name. It is the belief that original sin did not taint human nature and that mortal will is still capable of choosing good or evil without special Divine aid. This is still sometimes called Limited Depravity. Thus, Adams sin was to set a bad example for his progeny, but his actions did not have the other consequences imputed to original sin. Pelagianism views the role of Jesus as setting a good example for the rest of humanity (thus counteracting Adams bad example) as well as providing an atonement for our sins. In short, humanity has full control, and thus full responsibility, for obeying the Gospel in addition to full responsibility for every sin (the latter insisted upon by both proponents and opponents of Pelagianism). According to Pelagian doctrine, because humans are sinners by choice, they are therefore criminals who need the atonement of Jesus Christ. Sinners are not victims; they are criminals who need pardon. 2. Arianism was a Christian heresy first proposed early in the 4th century by the Alexandrian presbyter Arius. It affirmed that Christ is not truly divine but a created being. The fundamental premise of Arius was the uniqueness of God, who is alone self-existent and immutable. The Son, who is not self-existent, cannot be God. 3. Donatism was a Christian sect within the Roman province of Africa that flourished in the fourth and fifth centuries. It had its roots in the social pressures among the long-established Christian community of Roman North Africa (present-day) Algeria and Tunisia, during the persecutions of Christians under Diocletian. The Donatists (named for the Berber Christian bishop Donatus Magnus) were members of a schismatic church not in communion with the churches of the Catholic tradition in Late Antiquity.

An Interpretation of John Keats’ To Autumn Essay Example for Free

An Interpretation of John Keats’ To Autumn Essay Introduction Poems by John Keats are a source of inspiration. He plays with his readers and takes them to places and times with his words. What inspiration does Keats bring? He inspire his readers to go beyond his words and discover a new world he creates. He makes his words so colorful and alive it is almost musical to the ear. When one reads Keats, he wonders what’s in his heart when he wrote his particular poem and makes him want to be in Keats world and senses. In this particular review, I tried to see Keats world of autumn from afar. A world detached, to objectively examine and look at autumn as Keats paints it with his words. I also wanted to get a perspective of Keat’s style with words, of how he uses them as a vehicle for others to journey to his world. In this same review, I tried to experience the world that Keats created and feel both the experience of his symbols and my comprehension of what he symbolizes autumn to be. The formal and thematic aspect of the poem will be commented on but this interpretation will be candid as I believe Keats wanted his poem read. 1 2 Throughout the three stanzas of the poem, Keats has maintained the ten syllable measure of each line, although, the foot measure of syllable stressed is a little slacked. As in the lines, â€Å"Who hath not seen thee oft amid thy store? Sometimes whoever seeks abroad may find† and some more. Reading aloud the verse, Drowsd with the fume of poppies, while thy hook spares the next swath and all its twined flowers: I could not quite place the stress of the syllables to create a rhythmic sound. I call it literary license, Keats permit his reader to make a decision and choose the way to vocalize his poem. The first stanza is vibrant and tells us of bounty. It is a direct contradiction of autumn or fall as the season is the time when trees begin to bare its leaves and fruits are scarce. But in this poem, Keats describes autumn as the climax of summer, †Season of mists and mellow fruitfulness, Close bosom-friend of the maturing sun;† mist and mellow here are used as a welcoming scenario to a world filled with life and produce. The last word of the first line fruitfulness rhyming with bless on the third line and sustaining the rhythmic scale throughout the stanza gives a musical air as one reads the poem aloud. The stanza tells us also of a promise of continuity. â€Å"To swell the gourd, and plump the hazel shells with a sweet kernel; to set budding more, and still more, later flowers for the bees,† true to the rhythm of his verses, Keats described autumn as a time when seeds are planted for life to continue. It tells as of a beginning of a season, fresh and ready for a new experience in a manner where the season before it, which is summer, in the festivities of plenty and not as a dying season ready to be forgotten and left behind. Autumn in Keats† dedication receives Summer’s gift of plenty, it began as a climax of summer and therefore, promise to be a season 3 of new discoveries and not as bleak as shedding away the leaves of trees to forgetfulness. In the second stanza, the word flowers does not rhyme with any other words at the end of each line. I need to read the poem aloud and discover a rhythm for it to make the poem alive, it gets into a perfect rhyme with the word â€Å"spares’ if that’s where I put the measure at the end of the first line, thus, â€Å" Drowsd with the fume of poppies, while thy hook Spares / the next swath and all its twined flowers.† The same with the last two lines of the second stanza, â€Å"Or by a cyder-press, with patient look, Thou watchest the last oozings hours by hours,† by simply repeating the word, the seemingly ignored rhyme is captured. This is my personal preference of setting the rhythmic pattern of vocalizing the poem, although, the rhyme pattern of the three stanzas comes out to be ababacacaaa, ababcdecdde, and ababcdecdde, in this particular order. It can be observed that the first stanza follows an independent rhyme pattern from the other two stanzas. Keats may have done it intentionally to stress the change of tone of the second stanza that is presented as a question. Why could Keats have done this? As I get absorbed in the autumn scenario of the first stanza, feeling the cool air and seeing laden apple trees bend, the mossed cottage, the vines and more, feeling the climax of summer shared into the start of autumn, and as I get lost to the world that Keats painted with his words, somebody shoots a question like, †Who hath not seen thee oft amid thy store?† and I was reminded that I am not alone. It was not even a question in the sense that Keats emphasized the beauty of the season being one that cannot be ignored. If he likened autumn as a stage of life’s journey and we choose the paths that we travel on, in the roads we took as we travel in this world, we met people to keep us company, 4 sometimes partway, the greatest thing maybe is to find beauty in life that keeps us company all through the journey. Reading the second stanza brings another question to my mind. What do I really seek for in this life? Why does Keats made me ask this when he wrote, â€Å"Sometimes whoever seeks abroad may find Thee sitting careless on a granary floor,† What Keats said in this line is that there are people who sought for things in this life away from where they really are and in fact, what they are seeking for is just within reach. Very clearly he meant happiness, he meant beauty of living, the beauty of living in the here and now. Keats wanted to tell his readers that we need not wait for what we can achieve in the future to experience the joy of being alive. We need only to be aware of the blessings we could find in the present to feel that joy that we seek for in our journey. The third stanza is a validation of the second stanza both in form and interpretation. I noticed that both have the same rhyme pattern and both starts with a question. It tells us of men looking out for joy too far out as in spring in autumn failing to notice that joy is just within reach. â€Å":Where are the songs of spring? Ay, where are they?†, Keats wanted us to know that in this life’s journey, happiness is not about the things we reap in the future but of finding happiness in every endeavor that we do without waiting for whatever fruits or rewards we earned as a result of our works. He tells us that like spring or summer or winter, autumn carries within itself its own music like the wailful choir of small gnats, the loud bleats of full-grown lambs, the songs of crickets, the whistles from garden croft, the twitter of the swallows. Keats wanted his readers to discover them. The choice of the word â€Å"wailful†, the reader can almost hear the liquid fall of tears of the gnats† mournful music. Sad, yet in Keats world of words 5 they represented life’s emotions that eventually gives meaning to everyone’s existence. He pictures autumn’s soft dying day with rosy hue and not with the bleak grey or the dying blackness of the welcoming dark, but of shades of the rose, full of life, full of promise, perhaps of another day ahead, a goodnights sleep, a beautiful dream, a walk in the moon? Or whatever the good life brings in the third part of man’ life. The poem is not necessarily strict with the academic form of the poem although as much as possible Keats wanted to adhere to the scholarly it dictates. In this form, the poem creates a character of free spirit and that refused to be tamed. The three stanzas o f the poem expresses a discipline. It follows a form respecting rhyme, measure, rhythm, color, and all the constituents of this form of literature. Yet, it does hesitate to lay away the conventional to express the soul of his expression as Keats diversion from the rhyming pattern to the rhyming pattern he followed on the second and third stanza. The syllabic measure of the words spares and flowers are left to the decision of the reader, making the reader an active participant to the interpretation of the poem. The three parts of the poem suggest the three stages of man’s life at a point of view, being at birth and early life, maturity and finally at the golden old age of man. But Keats only suggest, because all three speaks of seeking the joy of finding the beauty that life brings. The poem itself, as a form, is music to the ears. His play of rhythm, rhyme, and choice of words, in the context of emotionally attaching the self during its vocalization is like listening to the music of nature. The poem vividly expressed the colors of autumn using nature’s characters as in â€Å"rosy hue†. It does not boast with lengthy lines, numerous stanzas, academic words to express the simplicity of enjoying life, in life’s term. 6 Conclusion The poem â€Å"To Autumn† is a metaphor. Keats represented the season as man’s objects of his endeavors. In the same manner, the times of the seasons’ days represented man’s three stages in life. Why has Keats chosen autumn to represent ingredients of life’s journey? Maybe because of the colors it creates as the season journeys towards another. Maybe because autumn carries with itself the fruitful harvest of summer and links itself to the preparation winter does for a new life in spring. All these are speculations, and these speculations made me look into my life and my attitudes towards life as a journey. A lot of interpretations had considered â€Å"To Autumn† as one of the greatest odes that Keats had written. â€Å"Written in September of 1819, this piece is regarded as his most achieved ode.† 1. If all forms of writing, in different degrees of exertions aims to manipulate the reader’s mind to a certain mode of thoughtfulness, then Keats’ has manipulated mine into a romantic mode of communing with nature as a tool of reflection. He has vividly painted a picture of a season with words so successfully so that its form takes life and invited its readers to experience the joys of the season. It invited everyone to forget about worrying so much about future and take the joys of life in the here and now. 1 Analysis of Keats’ Poem To Autumn Essay. http://exampleesays.com/viewpaper/?wid=1795

Socrates Concept Of Justice When Applied To War Philosophy Essay

Socrates Concept Of Justice When Applied To War Philosophy Essay The nation is at war, and your number in the recently reinstated military draft has just come up. The problem is that, after serious reflection, you have concluded that the war is unjust. What advice might Socrates give you? Would you agree? What might you decide to do? One fundamental question answered in the Republic is Socrates concept of Justice. As all the answers, the conclusion about what it is was reached using the dialectical method, a process that is also called, intellectual midwifery. Socrates begins another discussion and a conclusion is reached that it is just to do good to our friends when they are good and harm to our enemies when they are evil, but he does not accept this as the final meaning if justice, and said that doing harm is far worse than receiving harm, because committing injustice harms ones self internally (Davis, 2000). In conclusion, harming any person is an injustice, and so any just man would not commit it. Davis noted that it was the first that it had been declared in European philosophy the idea that a man should not harm others, even his enemies (2000). This is in fact very deontological, as the goodness of an act is considered in itself. In the first book of The Republic, Socrates receives the argument that men find it easier to fall into the pleasures of the unjust rather than choose the inevitable loss and suffering endured as a result of being good and just. But because the just life is more important than the external pleasures that vice and injustice can yield, loss and suffering is a little price to pay. Better is the poor man with a good, just soul than the rich man who has found his wealth through vice and thus attained a tainted soul (Davis, 2000). In addition, his view of justice was exemplified by the famous story, The Ring of Gyges. The point of the story is this: when one has the chance to do something bad, and gain something for ones self, one should not. That is justice. Thus, in this first question, I think that Socrates would have regretted it, because it is not the right thing. We should take note that Socrates is a good warrior himself of Athens, while being its greatest philosopher at the same time. While the end could be good, the point is it was attained in the wrong manner. In his line of thought, Socrates would have advised that there should be some form of repayment to the commitment of injustice. And yes, I would agree. The essence of justice, as was expounded by Davis is not gaining something good for ones self by making other people suffer. Would it have been unjust for Socrates to escape? If you think it would have been, explain your position on whether it is ever morally appropriate to disobey the law. If you think Socrates could have escaped without committing an injustice, explain why. Is there some argument Crito could have made but didnt? Habin noted three arguments of Crito as he was convincing Socrates to escape. First, Socrates friends reputations would have suffered; because it would only mean that his friends do not have the courage to help him escape. Their reputations would suffer. Second, Socrates would not be able to provide for his children in prison. And third, if he does not flee, it would become impossible for Socrates to teach philosophy, which means success for his enemies (2003). Socrates responded, however, that, A good man cannot be harmed eitherin life or in death, and in addition, and in relation to his concept of justice, one not ought to harm ones friends. It must be cleared that harming a person, for Socrates meant means him less good, less. Lastly, in response to Critos argument related about his children, the philosophers reply was, if escaping is unjust and he does it, then he would show himself unfit as teacher of virtue-he would have shown that he did not know what virtue is-and so he could not make his children just or virtuous (2003). Following the line of thought that Socrates notion of justice is justice in itself, the one characterized by Gyges, wherein one should commit something beneficial for ones self without hurting people, it would be injustice if ever he tried to escape. In the first place, Socrates was condemned to drink hemlock because he was accused of youth corruption and in believing other Gods. Thus, while this he is receiver of injustice himself, it would have been greater injustice to try to escape, because he would simply commit greater injustice. One argument Crito could have made is that the Athenian laws are base or morally incorrect, and so he could have convinced Socrates to escape because it would not be injustice as it is a rebellion against the laws themselves. This is different from disobeying the laws as they are laws, and disobeying the laws because they are in itself wrong. Are your moral judgments merely expressions of your personal preferences? If not, how are they different? In articulating your position, be sure to explain how it compares to Reagans. Moral judgment is not only expressions of personal preferences. In the line of thought of the philosopher Levinas, this question itself is invalid, because there can be no personal when it comes to morality in the sense that morality is only possible between two people. Morality is not a question of acts (acts could be personal). Moral preferences could not, as they are always based on a person to person relation. To be moral means to acknowledge others preferences as well. To be moral is an acknowledgment that people are people and deserve to have a life. Thus, to cancel this right is a transgression. I thus agree with Reagans position that there must not be individual preferences when it comes to moral judgments. In one newspaper article I have read about Reagan, he was said to be mistaken in judgment simply because he deems that a baby born without brain should not be starved to death. This is in fact very humane, because while the child would have not survived even a week, Reagans decision is just an acknowledgment of the right of the infant. Is it possible to be moral without believing in God? Why or why not? It is possible to be moral without believing in God, if this idea of God is based on tradition (i.e. Jesus, Allah, Jehovah.) For although religion is a great foundation when it comes to morality, it does not mean that religion is the sole foundation of it. For instance, there are a claim in the Philosophy of Science that science is not only taking-over explanations on metaphysics (I mean, reality,) and knowledge, but science is also taking over epistemology, and now even aesthetics and ethics. For example, there is what is called bio-ethics. Question about the possibility of being moral without God is actually outdated, for Nietzsche had long ago pronounced the death of God.-the death of objectivity, as new demi-gods arises: perhaps the result is this age of post-modernism. Aside from Nietzsche, there are other ethical philosophers who have founded a system of morals without relying on the idea of a god: there is utilitarianism, pragmatism, hedonism, rational egoism, and a lot more.

Skin Deep :: Self Image Beauty Essays

Skin Deep We drove all the way down to New Jersey. We usually reserve NY/NJ trips for Korean grocery shopping and long weekends. It was a perfectly nice March day out—brisk, but sunny, with just enough warmth for a light jacket. This was my dad’s idea. I was pretty against the whole thing, but I decided to give it a try; it wouldn’t hurt to try, would it? Ever since I was young I have had scars on my face from a severe case of chicken pox. The doctors worried that my face would be scarred much worse than it is. They gave my parents two options—sand my skin down to create smooth skin which could potentially cause worse scars and redness in cold temperatures, or do nothing and hope that the scars would disappear over time. My parents, hoping for the best, went with the latter choice. And some 18 years later, my father questioned this decision. Dr. Grace Kim got her bachelor of science in biology from MIT in 1995. My father found her office advertisement in the Korean community newspaper. She shared her office in Inglewood, NJ with two other doctors whose degrees from prestigious universities hung like graffiti on the walls. The office was softly lit and had a sort of Zen themed feel to it with bamboo shoots, rocks, stone tables, all classily done. The magazines spread across the rock table tops were plastered with skinny young Korean girls with perfect chins and tiny frames. I could sound out the words on the cover: â€Å"ooh-manz sen-suh† or â€Å"Women’s Sense.† The door opened and my name was called. My scars never really bothered me. I can remember the few instances when someone had noticed them and asked about them. But having someone specifically appointed to sit, stare, examine, and evaluate what â€Å"your biggest problem areas are† is not the highest rung on the self-esteem ladder. There are some days I don’t even notice my scars; then again, there are days they seem to pop off my face eclipsing my otherwise clear complexion. Dr. Kim’s remedy for my scars was to cut the â€Å"more noticeable ones† using a very precise eyelet cut, stitch, then after healed, use laser technology to smooth the scarring from the stitches. Each eyelet cut would cost $200 and â€Å"with my condition† could cost over $2000. But before any services could be rendered, her exclusive line of skin emulsifying products must be used 6 weeks prior to surgery.

Memoirs Of A Geisha Essay -- essays research papers

In the best-selling novel entitled Memoirs of a Geisha by Arthur Golden, Golden examines the secret world of the geisha. Contrary of what is often believed, geisha are far from being prostitutes; they are more accurately High-class Japanese entertainers. Arthur Golden shows the reader a completely different look on life in looking into the lives of geisha in mid-twentieth century Gion and sends a very strong message distinguishing the geisha and the prostitutes. Arthur Golden, throughout Memoirs of a Geisha, creates a perfect image of the city of Gion, the last Japanese city to still have Geisha the followed the old traditions. Golden describes the world of the Geisha through the experiences of a fictional Geisha named Nitta Sayuri. This novel clarifies the distinguishable differences between a Geisha and a prostitute, Golden’ s main reason for writing the book. In various sections throughout the course of the novel, several differences are established between the geisha and local prostitutes. One of these is that the geisha’s obi (waist wrap) is tied at the geisha’s back in a way that makes it impossible for a geisha to put it on herself. Japanese prostitutes, posing as geisha, have their obi tied at the front, that way they can wrap and unwrap them as needed. Geisha are strictly forbidden to have sexual relations of any kind with the exception of relations with their danna. Even the presence of a man in the okiya (a sort of communal home for geisha and her servants) proh...

Analysis Of Nathaniel Hawthorn :: essays research papers fc

Ld be at my very elbow" symbolizes that the forest is a mysterious and frightful place (244). With the words, "staff, which bore the likeness of a great black snake" (244) and "The moment his fingers touched them, they became strangely withered and dried up as with a week’s sunshine" symbolizes the devil (246). Another important literary element that Hawthorne uses is characterization. He also uses symbolism to represent his characters. For instance, Faith is the wife of Young Goodman Brown and is represented as a beautiful, faithful, and pleasant person. When Hawthorne writes, "the wind play with the pink ribbons of her cap", symbolizes Faith to be a beautiful and pleasant person (244). Also Hawthorne writes, "as the wife was aptly named, and she’s a blessed angel on earth" symbolizes that Faith is faithful and honest (243). In contrast to Faith is the mysterious travellar. He represents the devil in the forest which represents hell. Hawthorne writes, "his staff, which bore the likeness of a great black snake" (244) and "The moment his fingers touched them, they became strangely withered and dried up, as with a week’s sunshine" (246) symbolizes the hellish powers of the devil. Young Goodman Brown plays the middle man within the story. He is married to a beautiful wife and is urged to become bad in the hellish forest. He also finds that his religion teacher, Goody Cloyse, and the church minister, Deacon Gookin, was in this forest. Young Goodman Brown faces an internal conflict with good and evil. Hawthorne writes, "With Heaven above, and Faith below, I will yet stand firm against the devil" lets you know that Young Goodman Brown is strongly against evil (247). Also within the story Hawthorne writes, "My Faith is gone, there is no good on earth, and sin is but a name. Come, devil for to there is this world given" which shows that Young Goodman Brown has come to realize that he can no longer trust anyone (248). In this allegory, Nathaniel Hawthorne uses dual settings, along with mood, conflict and characterization to create his theme. That mankind possesses both good and evil within each individual. This is represented by the internal conflict by Young Goodman Brown to be a good individual, but realizing that everyone possess bad.

Critically evaluate the current status of the setting including policies and practices Essay

Self-reflection is a very important tool to be used in order to keep the nursery up to date with current legislation and to raise service standards. By regularly looking at where we are as a setting we can ensure that we continue to offer high quality education to our children. â€Å"Research has proven that self-reflection and evaluation both support good practice within a setting as a part of continual development. Importantly this self-reflection supports good outcomes for children.† (Barber and Paul-Smith 2009, pg.8) We have been using Ofsted SEF to evaluate where we are doing well and assess where we need to improve. â€Å"The self-evaluation form is designed to help early years providers to review and improve their practice, so that it is of the highest standard and offers the best experience for young children. Importantly it is a useful tool for you and any assistants or staff to evaluate the impact of what you do on children’s welfare, learning and development.† (Ofsted 2009, pg.13) PEST ANALYSIS POLITICAL ï‚ · Politically unsettled ï‚ · Arab spring ï‚ · Benevolent dictatorship ï‚ · No pressure groups ï‚ · Frequent change of legislation but no clear guidelines ï‚ · No official body or organization to refer to ï‚ · Government policies are not consistent and not properly disseminated ECONOMICAL ï‚ · Unsecure financial world markets ï‚ · Fluctuating exchange rates ï‚ · Expensive living ï‚ · Uncertainties in the economy ï‚ · No direct income taxes or VAT ï‚ · Several indirect taxes ï‚ · Increasing running costs ï‚ · Rapid expansion of Early Years industry ï‚ · Increasing competition SOCIAL ï‚ · Increasing number of working mothers ï‚ · Wider range of people ï‚ · Image of good standard of living and overall safety ï‚ · People moving and settling in the area ï‚ · Increased focus on Early Years Education ï‚ · Attractive area for different nationalities ï‚ · Broad spectrum of curriculum covered in the country TECHNOLOGICAL ï‚ · Easier information access (internet) ï‚ · Wider audience ï‚ · Better ability to reach out to the Community ï‚ · Blogging (positive and/or negative) ï‚ · Personal Technology ï‚ · CCTV cameras (name of city) is a safe place, its economy is considered ever flourishing but due to the ongoing global economical crisis it has its financial restraints. This analysis has also outlined how a business can be easily set up but also how difficult it is for it to thrive due to frequent changes in the legislation and the lack of consistent guidelines. Nevertheless, the increased interest in Early Years Education will soon allow practitioners to offer to all children high standards of learning. SWOT ANALYSIS STRENGTHS ï‚ · Well trained, qualified and experienced staff ï‚ · Impressive facilities ï‚ · Outstanding outdoor area ï‚ · Central location ï‚ · Extra-curricular activities ï‚ · Early years themed workshops and professional advisors WEAKNESSES ï‚ · Turnover of staff due to economic situation ï‚ · Policies and Procedures (only few in place) ï‚ · Being tenant of the facilities ï‚ · Old building badly maintained ï‚ · Lack of training opportunities ï‚ · Limited parental involvement ï‚ · Managerial limited decision making ability OPPORTUNITIES ï‚ · Several marketing options ï‚ · Exponential growth of market ï‚ · Partnership with professionals in childcare ï‚ · Diversified skills of staff with different backgrounds ï‚ · Wide professional network THREATS ï‚ · Extremely high price of rent ï‚ · Frequent new regulations with high implement costs ï‚ · New nurseries poaching staff and rising salary expectations ï‚ · Loss of key staff ï‚ · Frequent families’ relocations (name of nursery) is a newly established nursery in (name of city) that was initially planned with a greater focus on business rather than learning. Policies and Procedures were compiled and printed out hastily, without team brainstorming or subsequent effective compliance. The absence of specific legal requirements in the country makes it possible for nursery and day cares to operate, though in the best interest of children, without proper policies and procedures in place. Going through the process of self-evaluation has been the most valuable eye opener possible for me. I now know where we are and where we want to be. PEST and SWOT analysis have  allowed me to celebrate our strengths and pinpoint our weaknesses. Generally all policies will need to be rewritten, implemented and properly disseminated, but priority will be given to Child Protection and Behaviour Management Policies. A Staff training plan also needs to be put in place in order to ensure high standards in care and education of all children. Last but not least, it will be paramount to monitor progress and ensure that our procedures reflect our policies and that good practice is consistent throughout the academic year by gathering evidence regularly.

Memories of Montreal

The main character begins by emphasizing his regret and sadness In bringing his son up in a posh, serene and wealthy neighborhood located in West Vancouver, that Is vastly deferent from the richly cultured streets of Montreal from which he grew up In. This point is clearly stated In the text with the statement â€Å"And I blame yeses'.He wishes that his son had had the chance to experience the feeling of safety and support that came with growing up In a Jewish community where all the females had similar tragic pasts Involving the Holocaust. Although his childhood may have been less luxurious than his sons he knows that Its our experiences that makes us who we are as a person, and that It was the life skills that he learned growing up In Montreal, that are priceless to him.The father than truly captures the reader Into is fond memories of growing up In Montreal as he describes the Joys that he experienced by expressing the all to familiar sights and scents that he came across while n avigating the bustling streets of Montreal that were lined with all sorts of family owned shops, delicatessens, laundries and corner stores. The main character finishes by reflecting the sorrow he feels for his son as he walks to school, surrounded solely in beautiful showering cherry blossoms and not the influential feel of community, that he once did.

A Self Discovery Journey Education Essay

The undermentioned article is the consequence of an auto-analysis experience by an EFL instructor endeavoring to accomplish professionalism in her instruction patterns. The grounds that led her to that self-discovery activity are fundamentally her late acquired cognition on linguistic communication geting and learning theories and her desire to be a better instructor. She describes her current instruction patterns in footings of Teaching Principles, Classroom Management, Class Procedures and Techniques, and Resources and Materials. Then she mentions the new patterns she ‘s willing to follow in order to go a better professional and the activities she must undergo to accomplish those patterns.KEY WORDSProfessionalism, Language Learning and Teaching, Class Observation and Reflection, Auto-analysis.IntroductionIn 9 old ages of learning pattern, I ‘ve ne'er done before what I am about to make now in the paragraphs that follow. The following lines are to be my first written ana lysis of all time on my patterns as an EFL instructor in my personal hunt for professionalism. A Professional is person whose work involves executing a certain map with some grade of expertness. But a narrower definition limits the term to use to people such as instructors whose expertness involves non merely skill and knowledge but besides the exercising of extremely sophisticated judgement, and whose accreditation necessitates extended survey, frequently university-based, every bit good as practical experience. The professional is, foremost and first, a bringer-about of real-world alteration, prioritising real-time action and contemplation. ( Ur, ? ) . The term professional besides implies being portion of a community. The professional community of English instructors has developed agencies of consolidating relationships between its members and created chances for them to profit from each other ‘s cognition. We are an identifiable group, whose members are interested in interaction with one another for the interest of acquisition, and besides for the enjoyment of interchanging experiences and thoughts. We publish, we communicate innovatory thoughts, whether theoretical or practical, to one another and to the populace at big: through in-house seminars, national or international conferences, diaries or books ( Ur, ? ) . We as professional EFL instructors must be independent. Cipher else can state us what to make ; we ourselves are responsible for keeping professional criterions and should be committed to making those criterions. We must be cognizant of our duty towards our pupils and their acquisition. We should n't merely learn , we must besides larn, continually – about our capable affair, about learning methods, and approximately many other things that make us better educated and hence better pedagogues ( Ur, ) . The development of our learning competency is our professional duty, and it is a long-run and on-going procedure ( Pettis, ? ) . In the undermentioned paragraphs I will explicate what drove me towards making this soul-searching exercising, I ‘ll depict my current pattern as a instructor, and I ‘ll round-up with a to-do list of the patterns that I must get in order to be the professional that I want and need to be.MotivationIn the early old ages of my instruction pattern I was fundamentally concerned with what to learn, and I did n't detect or believe about other facets of EFL learning. Then I started detecting my pupils ‘ behaviour and the demands of the communities in which I taught my classs, and I started reflecting on my ain patterns, researching how to, and why to learn in each peculiar context in a manner that I could lend to do their lives better. I discovered that my instruction could truly lend to my pupils ‘ personal transmutation, and that I as a instructor must bear with the defining and reshaping of the coveted learning result of my pupils ( Kumaravadivelu, 2003 ) . Then a sense of committedness towards my profession started to develop, and I discovered that I still lack some of the conditions a professional EFL instructor must hold, and that the restrictions in my cognitive model constrain my instruction patterns ( Pettis, ? ) . I ‘ve come to a point in which I wish to halt playing around, experimenting in an irresponsible and irregular manner with my categories. I want to be able to take classs of action that are based on cognition and idea, instead than on wonder and creativeness. I know now that it is necessary to understand the rules underlying both automatic and consciously designed action. I now understand that I must establish my professional action on the consequences of academic research and theorizing ( Ur, ? ) every bit good as my personal experiences. I feel the demand to utilize successful pedagogical techniques that might convey new penetration and more advanced possibilities to my instruction pattern ( Richards, ? ) ; becau se I believe that accomplishments without cognition or rules are professionally unacceptable and the knowing instructor who is besides adept is a powerful pedagogue ( Pettis, ? ) . I started making professional development activities that challenged and changed my conceptual model, and larning from them has enabled me to do better determinations about the activities and techniques I could follow in my categories. I ‘ve learned that learning is non merely a series of preset and presequenced processs, but a context-sensitive action grounded in rational idea and creativeness in which the practician has to place and run into the challenges faced in the mundane pattern of learning ( Kumaravadivelu, 2003 ) . I ‘m good cognizant now that the rules that guide my determination devising can alter over clip and merit to be reconsidered sporadically as a personal committedness towards my ain on-going professional growing ( Pettis, ? ) .THE PRESENTMy current instruction patterns are the consequence of 9 old ages of experience. I ‘ve worked with several different attacks and methods, but I ‘d ne'er analyze the theory and rules behind them till late. I n malice of that, I ‘ve ever, genuinely loved instruction, and I ‘ve been really funny about my work. It makes me proud to state that I was n't excessively lost in the manner of going a good professional. The undermentioned list is a catalogued sum-up of my current instruction patterns: Teaching Principles: Presently I ‘m in the procedure of understanding the theory and the rules of linguistic communication instruction and acquisition. Try to maximise the larning potency of my pupils through job resolution activities. Try out different learning schemes by invariably detecting things that work, flinging old patterns and taking on board new 1s. Expression at what I do in the schoolroom and believe about why I do it, how effectual it is, how are my pupils reacting, and how can I make it better. Reflect on the peculiar jobs that arise in the schoolroom. Analyze the context of each category and implement signifiers of cognition that are relevant to each specific context. Organize category content around pupils ‘ demands, wants and state of affairss. Treat each learning state of affairs as alone, placing the peculiar features of each event. Bring my life experiences to the educational scene, and acknowledge that my pupils do the same. Try to link the category content to wider societal issues. Classroom direction: I ever have high outlooks for pupil acquisition in my categories. My criterions for schoolroom behaviour are besides high. Personal interactions between me and my pupils and among pupils in my category must be positive. If pupils are misconducting, I ever try to happen out why. Every pupil must make take parting production in category. Derive my pupils ‘ trust in me and in what I teach them. Class Procedures and Techniques Target linguistic communication usage throughout the complete in-class clip. Avoid the usage of female parent lingua among students.. Use of scholar centered, job work outing activities that involve interaction in the mark linguistic communication. Task direction must be clear and focused ; same as accounts on linguistic communication points. Proctor pupils ‘ public presentation on undertakings to see that coveted public presentation is being achieved. If pupils did n't understand an direction or an account, I ever think about what I did and why it may hold been ill-defined. When pupils do non understand, they are re-taught. Incentives and wagess for pupils are used to advance excellence. Error rectification is done after the pupil finishes production. Contemplation on how much testing to make and when is the appropriate clip to make it. Make warm up activities at the beginning of the category to fix pupils for mark linguistic communication usage, and/or to put the temper for a specific activity. Monitor on-going public presentation of the category, trying to turn up unexpected jobs on the topographic point and seting direction outright to rectify them. Induce pupil pattern on several, if non all of the linguistic communication accomplishments in each category. Include grammar accounts in the category content. Resources and Materials Use different text books for schoolroom activities. For reading pattern, usage texts that are non excessively difficult for my pupils. Any stuff at manus that could be utile: in writing stuffs, audio stuffs, picture stuffs, multimedia stuffs, cyberspace, games. Motivate pupils to convey stuffs to category which they think might be utile.THE FUTUREThroughout my current procedure of analyzing the theories of linguistic communication acquisition and instruction, I ‘ve discovered several patterns that, if adopted as mine, would surely steer me in the right way of accomplishing on-going professionalism. In the list below I will advert the coveted patterns and how I ‘m traveling to accomplish them. Be able to explicate to my pupils the manner the mark linguistic communication ( English ) plants and why does it work ( Ur, ? ) : I can make this end by analyzing English linguistics. Make informed and appropriate real-time determinations when, ( as frequently happens ) different, every bit valid rules appear to conflict in a peculiar state of affairs ( Ur, ? ) : In order to be able to make this I must rule all the rules of linguistic communication instruction and acquisition and be really detecting of each category state of affairs, concentrating on peculiar characteristics of my instruction or on a peculiar category event. Be peculiarly knowing and adept so that the necessary scope of subjects is addressed suitably and sufficiently ( Pettis, ? ) : Continue analyzing all the facets of linguistic communication instruction and acquisition, and do it an on-going wont, by being personally committed to seeking out extra chances to larn and develop. Have a deep apprehension of the rules of professional action, and be able to introduce and associate critically to the invention of others ( Ur, ? ) : Yet more lasting survey, non merely through reading, but besides by go toing classs, speaking about and discoursing issues with co-workers, and several other activities of the linguistic communication learning community. Let a combination of linguistic communication larning theories and my ain experiences to interact with each other to bring forth effectual linguistic communication lessons ( Tice, ? ) : I must set into pattern the studied theory and reflect about its consequences taking into history my old experiences and cognition. Question the ends and values that guide my work ( Kumaravadivelu, 2003 ) : Constantly analyze my premises on linguistic communication acquisition and instruction in the visible radiation of each peculiar state of affairs and context. Reflecting upon the ideological rules that inform my instruction pattern. Be more organized with my instruction patterns ( Pettis, ? ) , and maintain a record of my ain analysis and contemplation on category observation ( Tice, ? ) : By roll uping information about what goes on in my schoolroom ( lesson programs ) , and analysing and measuring their consequence. By depicting lessons and activities and reflecting on whether or non they ‘ve been successful and why. By detecting the different things me and my pupils do in category, ever seeking to detect things that I was antecedently incognizant of. Take deliberate hazards in the schoolroom by introducing my pedagogical techniques and measuring their effectivity ( Richards, ? ) : Trust my ain personal instruction schemes. Explore the right methodological analysiss for each undertaking by reflecting on their consequence. Identify the features of the effectual activities and implement them in category, and measure them once more in a uninterrupted rhythm. Look back critically and imaginatively to make cause-effect thought, to deduce explanatory rules, besides to look frontward and make prevenient planning ; utilizing a carefully structured attack to self-observation and self-evaluation. See the facets of instructor behaviour: how much do I speak? , what about? , how do I react to student talk? , where do I stand? , who do I talk to? How do I come across to my pupils? ( Tice, ? ) : The easiest manner to make this is by entering my categories ; but that is n't ever possible to make. I must calculate out how to supervise my categories in a manner that I can detect and roll up this type of information. Use the category clip for pupil acquisition by developing smooth and efficient schoolroom activities and organizing groups to suit instructional demands ( Richards, ? ) : Keep on showing job work outing activities that meet the category ‘ demands with existent accent on pupil engagement and pattern. To name the demands of the pupils ( Richards, ? ) : By acknowledging their motivations to larn and by observing the linguistic communication acquisition phase in which they are. By reacting to the societal interactions and shared significances that exist among pupils, both inside and outside the schoolrooms. To be cognizant of the â€Å" developmental preparedness † of the scholar, that determines when and how to learn a pupil something ( ? , ? ) : By analyzing Piaget and the humanist theories, and by detecting my pupils really carefully so that I know when to present certain undertakings, harmonizing to the advancement they ‘re doing. The same applies for lesson programs. Observe if my pupils get the acquisition ends set by me ( Richards, ? ) : By supervising closely the learning advancement of my pupils. To hold a thorough appreciation of how my pupils learn and what motivates them to larn ( ? , ? ) : By analyzing the learning acquisition theories. By detecting my pupils actions and behaviour. By roll uping this type of information from pupil engagement in my categories. By reflecting on these subjects to make up one's mind what to make in category. See pupil feedback in the contemplation of my instruction patterns ( Tice, ? ) : Ask my pupils what they think about what goes on in the schoolroom. Their sentiments and perceptual experiences can add a different and valuable position. This information can be collected through questionnaires. Take portion in course of study development and affect myself in school alteration attempts ( Kumaravadivelu, 2003 ) : Use my experience and cognition on schoolroom contexts and state of affairss to assist develop better instruction plans. Working together with other instructors, pupils, parents and decision makers to portion thoughts and exercising power over the conditions of our labour. And being cognizant of the socio political context and the power dimensions that have helped determine it.DecisionBecoming a good professional in the linguistic communication learning field is no easy undertaking. There are several long-run patterns that should be acquired in the procedure, all of which include difficult work. Personal intuitive judgement is excessively wide and excessively obscure to be satisfactory in the application of a profession. Learning to learn does non stop with obtaining a diplomat or a grade in instructor instruction but is an on-going procedure throughout one ‘s learning calling. Teachers must build their ain theory of pattern, concerned chiefly on the critical thought of their concrete schoolroom contexts. Teachers should non merely joint their standards for developing and measuring their ain pattern, but besides have to prosecute in extended theorizing about the nature of their topics, pupils and learning/teaching procedures and even be concerned with wider ethical, societal, historical and political issues. This theorizing must include self observation, self analysis and self rating of their ain instruction patterns. Teaching should be an explorative activity in which the instructor must develop, choose or accommodate undertakings which are appropriate for their schoolroom context in order to bring forth location-specific, classroom-oriented advanced schemes ( Kumaravadivelu, 2003 ) . Monitoring learning Acts of the Apostless should even travel beyond the person, personal activity that transforms schoolroom practicians into strategic minds and adventurers ; it must transform into a corporate activity in which all the linguistic communication instructors of a peculiar establishment confront their experiences and finds to make a better learning plan or course of study for their communities. In my peculiar instance, I must concentrate on analyzing and larning the different theories that inform the linguistic communication instruction pattern, I must get down roll uping informations on category work activities and pupil behaviour ; and I must get down analysing and making self-reflection on all the gathered information.

Market Survey on Commodities Future Trading

An Industry Internship Project On COMMODITIES FURTURE TRADING WITH RESPECT TO GEOJIT COMTRADE LTD – MARKET SURVEY Done at CALICUT, KERALA Under the guidance of MRS. C. ANITHA RANI (Asst. Professor of Marketing Dept. ) (Project Guide) Mr. CHACKO . C. VARGHEESE (Regional manager) (Corporate Guide) Submitted By: LAKSHMI. P. K Roll No: 20028 SIVA SIVANI INSTITUTE OF MANAGEMENT KOMPALLY, SECUNDERABAD ACKNOWLEDGEMENTFirst of all I would like to thank Geojit COMtrade Ltd, which is a leading organization in commodity trading, for giving me an opportunity to work with them and to do Market Research to gain practical knowledge of how a Commodities Company works. My special obligations to my corporate guide Mr. Chacko C Varghese, Regional manager, GC Branch, Calicut, for granting permission to do the project in their esteemed organization. I thank him for dedicating his valuable time in reviewing my project work periodically and for directing me all the way.I am deeply indebted to thank my faculty guideAsst. Prof. C. Anita Rani. I also like to thank all my faculties who have taught me and haveshared their experience with mewhich has helped us in doing my project. I am thankful to Mr. Ajeesh Paul and Mr. Bijesh K. B, senior executives of Geojit COMtrade ltd, Calicut who was always ready to clarify my doubts related to the topic. And my sincere thanks to them. Also, I am thankful to my family, friends, and classmates and to the Almighty.Date: Signature Place: DECLARATION I, Lakshmi. P. K declare that this project entitled â€Å"Market research on commodity future trading with respect to Geojit COMtrade Ltd. †, submitted for the award of the PGDM Triple Specialization is a record of original project – research study- carried out during April 5th- June 5th) , that the project has not formed before the basis for the award of any Degree/ Diploma/ Associateship/ Fellowship of any other similar title.Ithas been completed by me at Geojit COMtrade Ltd, Calicut under the guidance ofAsst. Prof. Anita Rani,faculty of marketing department of Siva Sivani Institute of Management. Date: Signature Place: C O N T E N T S DECLARATION ACKNOWLEDGEMENT CERTIFICATE TABLE OF CONTENTS PAGE NO Chapter – IIntroduction 5 Statement of problem 5 Objectives of the study 6 Scope of study 6 Literature Review 6 Chapter – II Industry Profile 8 Company Profile 19 Departmental Details 26Chapter-III Research Methodology 44 Sources of data 45 Sampling Plan 45 Limitations 45 Chapter IV Data Analysis: Interpretation and Findings 46 Chapter-VSWOT Analysis 71 Conclusion 73 Suggestions 74 Bibliography 75 Annexure 76 CHAPTER -I INTRODUCTION Commodity trading is an area which has gained prominence ever since the dawn of civilization.It can be attributed to the fact that commodities are an integral part of our lives. Over these years there has been a tremendous growth in this segment which in turn has acted as the pillar of strength for the developmen t of our economy. This has made it an attractive investment avenue for investors. Earlier we witnessed lot of money being invested in those companies which specialized in the production of commodities. Now we have a trend reversal; commodities have gained prominence over the times.The rapidly advancing technology, particularly the Internet, has drastically changed the social and economic landscapes and every aspect of our daily lives. In the Securities Industry & Futures Commodities, the Internet has facilitated on-line trading, changing the way the market works, as well as the way the investors access the market. Having taken advantage of information technology at an opportune time, India has emerged as a front-running country of on-line trading in the global securities & commodities markets. On-line trading† is broadly defined as a trading mechanism where investors place orders and confirm trading results via electronic communication channels, such as the Internet, mobile ph ones, In India, the whole process of securities & commodities transactions, from order placement and routing, order execution, to trade confirmation, is fully automated, thus enabling the investors who have placed orders to confirm their trading results within few seconds. Geojit COMtrade Ltd. is a commodity trading service firm. It specializes in agricultural commodities, base metals, precious metals, bullion, and energy.The firm engages in trading services on commodities traded on the MCX and NCDEX in India. Its Research Division offers technical and fundamental research services. The firm also provides research on markets, currency, and economy. Geojit COMtrade Ltd. is based in Kochi, India. STATEMENT OF THE PROBLEM Online future commodities trading involve personal factors, technical factors, business factors and economic factors. The interplay of these factors on commodities market requires a deep study about the pattern process and procedures and performance.This study is inte nded to identify the various concepts about online commodities trading and its way of functioning. 1. To identify the level of awareness of commodities online future trading. 2. To identify the target consumer for online trading of commodities. 3. To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. 4. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. OBJECTIVES OF THE STUDYMy project work programmed was also directed to some particular targets and the main objectives of the study are as bellow; 1. To clearly state the awareness level about Geojit commodities 2. To understand the perception of people about Geojit commodities 3. To devise an approach by making people aware of Geojit commodities The Main purpose of conducting the Survey for Geojit COMtrade Ltd * To identify the target consumer for commodities b usiness. * To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. * To get a feel of the Customers’ perception about Geojit commodities services products. * To find an appropriate communication message for attracting the people to Geojit COMtrade Ltd SCOPE OF THE STUDY Globalization of the financial market has led to a manifold increase in investment. New markets have been opened; new instruments have been developed; and new services have been launched. Besides, a number of opportunities and challenges have also been thrown open.Online Commodities trading is new as compared to Equity market in India. Mainly three exchanges are involved in online commodities trading MCX, NCDEX & NMCE LITERATURE REVIEW So many studies are made in the area of commodity futur e trading. Some of the important studies are reviewed as follows; In a well-known literature survey on commodity futures research, Gray and Rutledge observed that, ‘Anyone who undertakes a survey of the literature on futures trading is confronted with an amorphous and rather disjointed list of publications (1971 p 57).Some of the pioneers in futures research, like Hol brook Working, Roger Gray, Tom Hieronymus, Allen Paul, and Henry Bakenwere based on an in-depth understanding of economic institutions, an appreciation of the major problems facing the industry, and careful analysis of relevant data. Gray and Rutledge (1971) provide the most comprehensive survey on futures markets and the topics covered in their review include evolutionary aspects of futures markets, inter-temporal price relationships, and concept of hedging, price variability, and the stochastic nature of price fluctuations. The Keynesian theory of normal backwardation was one of the earliest theories of the int er-temporal futures prices and it postulated that futures prices are biased estimates of forthcoming cash prices because hedgers must compensate speculators for assuming the price risk of holding future contracts * Working (1949) developed the idea that the primary function of commodity futures markets was the provision of the returns for the storage services, and he viewed inter-temporal prices as the jointly determined price of storage. Holbroook Working (1953) categorized alternative motives for commercial hedging in the commodity futures and these categories continue to be valid today. The three arbitrage hedging, operational hedging and anticipatory hedging. Since the futures and cash price converge in the delivery month, a commercial firm can ‘arbitrage’ the two markets and earn a risk-free return from the predictable change in the basis- the mathematical difference between the futures and cash price.Operational hedging facilitates commercial business by allowing firms to buy and sell on the futures markets as temporary substitutes for the subsequent cash market transactions. This provides firms with an avenue for being flexible in day-to-day operations and reducing price risk. Anticipatory hedges involve buying or selling futures contracts by commercial firms in ‘anticipation’ of the forthcoming cash market transactions. Price expectation plays a major role in this type of hedge. * Leuthold and Tomek (1980) explained that semi-perishables (e. . , butter, eggs, onions, potatoes) were traded at the turn of the century but the introduction of trading in nonstorables such as live hogs and live cattle in the 1960s was a watershed for the industry. They argued that since future prices for nonstorables are not being used to allocate inventories, forward pricing is an important economic justification for these markets They pointed out that some of the farmers remain concerned about the alleged adverse influence of futures trading. Acco rding to theoretical literature, primary commodity producers stand to derive considerable price risk reduction benefit from hedging with either future contracts or forward contracts (Johnson 1960; Stein 1961; McKinson in 1967; Danthine 1978; Holthausen 1979; Feder, Just and Schmitz 1980; Andearson and Danthine 1983) * According to empirical literature either minimum variance hedge ratios or optimal hedge ratios (i. e. % of output to be hedged) and has found large potential risk reduction benefits from hedging (Henifner 1972; Peck 1975; Ederington 1979; Grant and Eaker 198559; Casteino 1992; Lene, Kimle, and Hayenga 1993) * But both theoretical and empirical literature appears to contradict reality because very few primary producers actually hedge (Helmuth 1977; Berk 1981; Brorsen 1995) * Survey results of Blank, Carter and McDonald 1997 found thatfarmers prefer forward contracting to direct hedging with future contracts.According to Miller (1986) the one key distinguishing feature b etween these two factors is the absence of basic risk in forward contracting. * Carter and Loyns (1985) found that due to a high basis risk, there was a little incentive for Canadian feedlots to hedge cattle on the Chicago futures market. * Rolfo in 1980 suggested production risk as an explanation for the lack of hedging interest in the real world. Most research needs to be directed towards the impact of government farm programs on commodity futures markets, along the lines of Crain and Lee (1996) * The theory of price of storage explains inverted markets by appealing to the concept of convenience yield. According to this theory, the futures price can be less than the spot price plus the cost of carry when the commodity generates convenience yield. CHAPTER -II INDUSTRY PROFILE 1) COMMODITY MARKET A commodity is a material that is traded in big quantities and whose quality standards and price are objective and universally applicable.For example, gold is a commodity because quality st andards and price of gold are objective and universal, but gold jewelry is not a commodity because the price of jewelry depends on subjective factors such as design, brand image, etc. Other examples of commodities are: agricultural produce such as food grains, pulses, cotton, etc. ; metals such as nickel, zinc, aluminum, etc. Commodity markets  are markets where raw or primary products are exchanged. These raw commodities are traded on regulated  commodities exchanges, in which they are bought and sold in standardized contracts.It covers physical product (food, metals, and electricity) markets but not the ways that services, including those of governments, nor investment, nor debt, can be seen as a commodity. Commodity Market is an organized trader’s exchange in which standardized, graded products are bought and sold. Worldwide, there are 50 major commodity exchanges that trade over 100 commodities, ranging from wheat and cotton to silver and oil. The trading of commoditi es consists of direct physical trading and derivatives trading. Exchange traded commodities have seen an upturn in the volume of trading since the start of the decade.This was largely a result of the growing attraction of commodities as an asset class and a proliferation of investment options which has made it easier to access this market. Commodity trading Spot trading Spot trading is any transaction where delivery either takes place immediately, or with a minimum lag between the trade and delivery due to technical constraints. Spot trading normally involves visual inspection of the commodity or a sample of the commodity, and is carried out in markets such as  wholesale markets.Commodity markets, on the other hand, require the existence of agreed standards so that trades can be made without visual inspection. Forward contracts A  forward contract  is an agreement between two parties to exchange at some fixed future date a given quantity of a commodity for a price defined toda y. The fixed price today is known as the  forward price. Futures contracts A  futures contract  has the same general features as a forward contract but is transacted through a futures exchange. Futures contracts — which set a price for the delivery of a particular commodity in, say, six months or a year — are not themselves to blame.They're the grease that makes these markets function. Futures allow businesses like power companies or airlines to hedge against increases in fuel costs, or food processors to smooth over fluctuations in the price of wheat and corn. Wall Street plays an invaluable role, too, since financial investors — those betting that prices will fall, as well as those betting they'll rise — provide crucial liquidity. Commodity and futures contracts are based on what’s termed forward contracts. Early on these forward contracts — agreements to buy now, pay and deliver later — were used as a way of getting products from producer to the consumer.These typically were only for food and agricultural products. Forward contracts have evolved and have been standardized into what we know today as futures contracts.. In essence, a futures contract is a standardized forward contract in which the buyer and the seller accept the terms in regards to product, grade, quantity and location and are only free to negotiate the price. Hedging Hedging, a common practice of farming cooperatives insures against a poor harvest by purchasing  futures contracts  in the same commodity.If the cooperative has significantly less of its product to sell due to weather or insects, it makes up for that loss with a profit on the markets, since the overall supply of the crop is short everywhere that suffered the same conditions. Delivery and condition guarantees In addition, delivery day, method of settlement and  delivery point  must all be specified. Typically, trading must end two (or more) business days prior to the delivery day, so that the routing of the shipment can be finalized via ship or rail, and payment can be settled when the contract arrives at any delivery point.Most trading is done in futures contracts, that is, agreements to deliver goods at a set time in the future for a price established at the time of the agreement. Futures trading allow both hedging to protect against serious losses in a declining market and speculation for gain in a rising market. For example, a seller may sign a contract agreeing to deliver grain in two months at a set price. If the grain market declines at the end of two months, the seller will still get the higher price quoted in the future contract.If the market rises, however, speculators buying grain stand to profit by paying the lower contract price for the grain and reselling it at the higher market price. Spot contracts, a less widely used form of trading, call for immediate delivery of a specified commodity and are often used to obtain the goods nece ssary to fulfill a futures contract. An independent U. S. regulatory agency, the Commodity Futures Trading Commission was established in 1974 to regulate commodity markets. In 1982, the Chicago Mercantile Exchange introduced a futures contract for Standard ; Poor’s 500 U.S. companies that allow investors to speculate on the future prices of the stocks. Trading of S;P 500 and other financial futures has broken down some of the barriers that once separated stock, bond, and commodity markets and made it easier for investors to hedge their stock investments. Critics charge that the futures trading at the commodity markets in Chicago have made stock prices more volatile. The Chicago Board of Trade is the largest futures and options exchange in the Unites States, the largest in the world is Eurex, an electronic European Exchange.GLOBAL COMMODITY MARKET It is the trading of materials used to make finished products, Is far more important that what the most people give it credit for. It’s what to gives millions consumers worldwide their cups of creamy lattes, their breakfast cereals, the steel for their home construction, and even the fuel to run their cars. In fact international commodity trading is a multi-billion dollar business, and on average the number of trade executed in the commodity exchanges are about five times as much as those on major stock exchanges.And to be honest in the recent past it has been anything but dull. In the past five years commodities have provided all the thrills and spills of a high octane Vin Diesel movie. The idea of trading in commodity future contracts is really very old –school, although it has occurred new age glitz because of electronic exchanges. Most experts trace their origins back to Japan, were rice futures were first traded in the 17th century. Future market for precious metals such as gold and silver has also been around since in the 19th century with maize contracts with the Chicago Board Of Trade (CBO T).Basically commodity futures allow buyers and sellers to make bets on the expected future spot prices. They help both sides obtain insurance for the future value of their outputs or inputs. Cereals were first to be traded under the future contracts and the farmers were the first to use such contracts as they protect them from any steep fall in the value of crop harvested in future. Commodity future differed from equity derivatives in three important ways; 1. They are derivative securities not claims on long living corporations. 2. They are short maturity claims on real assets 3. nlike financial assets, they experience distinct seasonal variations in price and volatility Today there are more than 50 commodity exchanges in the world wide trading in more than 100 products. The major products come under five categories; 1. Precious metals (gold, silver, platinum, etc. ) 2. Industrial metals (copper, nickel, aluminum, zinc, etc. ) 3. Agricultural commodities (wheat, corn, cotton, oilse eds, coffee, cocoa, sugar etc. ) 4. Livestock (pork bellies, cattle, etc. ) 5. Energy(crude oil, natural gas, petrol, diesel etc. ) Oil makes up the world’s largest commodity future market. Daily turnover on the New York Mercantile Exchange(NY mex) alone totals about $15 billion) followed by coffee, steel, gold and wheat. New contract ideas however keep popping up all the time. For instance, freight futures are also traded on the Norwegian futures and Options Clearing house and the Nymex. While the Chicago Mercantile exchnge9 now taken over by the CBOT) offers contracts on temperatures, useful for hedging agricultural commodity or energy prices. COMMODITY FUTURE TRADING EVOLUTION OF FUTURE TRADING AND ITS PRESENT STATUS Organized future market evolved in India by the setting up of â€Å"Bombay Cotton Trade Association Ltd. in 1875. In 1893, following widespread discontent amongst leading cotton mill owners and merchants over the functioning of the Bombay Cotton Trade Associa tion, a separate association by the name â€Å"Bombay COTTON Exchange Ltd. † was constituted. Futures trading in oilseeds were organized in India for the first time with the setting up of Gujarati VyapariMandali in 1900, which carried on futures trading in groundnut, castor seed and cotton. Before the Second World War broke out in 1939 several futures markets in oilseeds were functioning in Gujarat and Punjab.Future trading in Raw Jute and Jute Goods began in Kolkata with the establishment of the Calcutta Hessian Exchange Ltd. , in 1919. Later East Indian Jute Association Ltd. was set up in 1927 for organizing futures trading in Raw Jute. These two association amalgamated in195 to form the present East India Jute ; Hessian Ltd. , to conduct organized trading in both Raw Jute and Jute goods. In case of wheat, future markets were in existence at several centers at Punjab and U. P. The most notable amongst them was Chamber of Commerce at Hapur, which was established in1913.Other markets were located at Amritsar, Moga, Ludhiana, Jalandhar, Fazilka, Dhuri, Barnala and Bhatinda in Punjab and Muzaffarnagar, Chansausi, Meerut, Saharanpur, Hathras, Ghazibad, Sikenderabad and Barielly in U. P. Futures market in Bullion began at Mumbai in 1920 and later similar markets came up at Rajkot, Jaipur, Jamnagar, Kanpur, Delhi and Calcutta. In due course several other exchanges were also created in the country to trade in such diverse commodities as pepper, turmeric, potato, sugar and Gur (jaggory). After independence, the Constitution of India brought the subject of â€Å"Stock Exchanges and Futures† in the Union list.As a result, the responsibility for regulation of commodity futures markets developed on Govt. of India. A bill on forward contracts was reffered t an expert committee headed by Prof. A. D. Shroff select committees of two successive Parliaments and finally in December 1952 Forward Contracts (Regulation) Act, 1952, was enacted. The Act provided for 3- tier regulatory system; (a) An association recognized by the Government of India on the recommendation of Forward markets Commission (b) The Forward Markets Commission (it was set up in September 1953) (c) The Central Government.Forward Contracts (Regulation) Rules were notified by the Central Government in July, 1954. The Act divides the commodities into 3 categories with reference to extent of regulation, viz: (a) The commodities in which futures trading can be organized under the auspices of recognized association. (b) The Commodities in which the future trading is prohibited. (c) Those commodities in which have neither being traded under the recognized association nor prohibited are referred as free Commodities and the association organized in such free commodities is required to obtain the certificate of Registration from the forward Markets Commission.In the seventies, most of the registered associations became inactive, as futures as well as forward trading in the commodities for which they were registered came to be either suspended or prohibited altogether. The Khursho Committee(June 1980) had recommended reintroduction of futures trading in most of the major commodities, including cotton, Kapas, raw jute and jute goods and suggested that steps may be taken for introducing futures trading in commodities, like potatoes, onions, etc. at appropriate time.The government, accordingly initiated futures trading in Potato during the latter half of 1980 in quite a few markets in Punjab and Uttar Pradesh. After the introduction of economic reforms since June 1991 and the consequent gradual trade and industry liberalization in both the domestic and external sectors, the Govt. of India appointed in June 1993 one more committee on Forward Markets under Chairmanship of Prof. K. N. Kabra. The Committee submitted its report in September 1994. THE MAJORITY REPORT OF THE Committee ecommended that futures trading be introduced in 1) Basmati Rice 2) Cotton ; Kapas 3) Raw Jute ; Jute Goods 4) Groundnut, rapeseed/mustard seed, cottonseed, sesame seed, sunflower seed, safflower seed, copra and soya bean, ; oils and oilcakes of all of them. 5) Rice brain oil 6) Castor oil ; its oilcake 7) Linseed 8) Silver ; 9) Onions. The committee also recommended that some of the existing commodity exchanges particularly the ones in pepper and castor seed, may be upgraded to the level of international future markets.The liberalized policy being followed by the Government of India and the gradual withdrawal of the procurement and distribution channel necessitated setting in place a market mechanism to perform the economic functions of price discovery and risk management. The National Agriculture Policy announced in July 2000 and announcements of Hon’ble Finance Minister in the Budget Speech for 2002-2003 were indicative of Governments resolve to put in place a mechanism of futures trade/market. As a follow up the Government issued notifications on 1. 4. 003 pe rmitting futures trading in the commodities, with the issue of these notifications futures trading is not prohibited in any commodity. Options trading in commodity are, however presently prohibited. ECONOMIC BENEFIT OF FUTURE TRADING ; ITS PROSPECTUS Futures contracts perform two important functions of price discovery and price risk management with reference to the given commodity. It is useful to all segments of economy. It is useful to producer because he can get an idea of the price likely to prevail at a future point of time and therefore can decide between various competing commodities, the best that suits him.It enables the consumer get an idea of the price at which commodity would be available at a future point of time. He can do proper costing and cover his purchases by making forward contracts. The futures trading is very useful to the exporters as it provides an advance information of the price likely to prevail and thereby help the exporter in quoting a realistic price an d thereby secure export contract in a competitive market. Having entered into an export contract, it enables him to hedge his risk by operating in futures market.Other benefits of futures are: (i) Price stabilization-in times of violent price fluctuations – this mechanism dampens the peaks and lifts up the valleys i. e. the amplitude of price variation is reduced. (ii) Leads to integrated price structure throughout the country. (iii) Facilitates lengthy and complex, production and manufacturing activities. (iv) Helps balance in supply and demand position throughout the year. (v) Encourages competitions and acts as a price barometer to farmers and other trade functionaries.Futures trading are also capable of being misused by unscrupulous speculators. In order to safeguard against uncontrolled speculation certain regulatory measures are introduced from time to time. They are: (a) Limit an open position of an individual operator to prevent over trading. (b) Limit on price fluctu ation (daily/weekly) to prevent abrupt upswing or downswing in prices (c) Special margin deposits to be collected on outstanding purchases or sales to curb excessive speculative activity through financial restraints. d) Minimum/maximum prices to be prescribed to prevent future prices from falling below the levels that are un remunerative and from rising above the levels not warranted by genuine supply and demand factors. During shortages, extreme like skipping trading in certain delivers of contract, closing the markets for a specified period and even closing out the contract to overcome emergency situations are taken. PROSPECTS With the gradual withdrawal of the government from various sectors in the ost liberalization era, the need has been felt that various operators in the commodities market be provided with a mechanism to hedge and transfer their risks. India’s obligation under WTO to open agriculture sector to world trade would require futures trade in a wide variety of primary commodities and their products to enable diverse market functionaries to cope with the price volatility prevailing in the worlds market. CHARECTERISTICS OF FUTURE TRADING A â€Å"Futures Contract† is a highly standardized contract with certain distinct features.Some of the important features are as under: (a) Futures trading are necessarily organized under the auspices of a market association s that such trading is confirmed to or conducted through members of the association in accordance with the procedure laid down in the Rules ; byelaws of the association. (b) It is invariably entered into for a standard variety known as â€Å"basis variety† with the permission to deliver other identified varieties known as â€Å"tender able varieties†. (c) The units of price quotation and trading are fixed in these contracts, parties to the contracts not being capable of altering these units. d) The delivery periods are specified. (e) The seller in a futures market has the choice to decide whether to deliver goods against outstanding sale contracts. In case he decides to deliver goods, he can do so not only at the location of the Association through which trading is organized but also at a number of other pre-specified delivery centers. (f) In futures market actual delivery of goods takes place only in a very few cases. Transactions are mostly squared up before the due date of the contract and contract and contracts are settled by payment of differences without any physical delivery of goods taking place.RECENT TRENDS IN COMMODITY TRADING Nature’s Commodity Outputs Commodity thinking is undergoing a more direct revival thanks to the theorists of â€Å"natural capital whose products, some economists argue, are the only genuine commodities- air, water and calories we consume being mostly interchangeable when they are free of pollution or disease. Whether we wish t think of these things as tradable commodities rather than birthrights has been a major source of controversy in many nations.Most types of environmental economics consider the shift to measuring them inevitable arguing that reframing political economy to consider the flow of these basic commodities first and foremost, helps avoids use of any military fiat except to protect â€Å"natural capital† itself, and basing credit-worthiness more strictly on commitment to preserving biodiversity aligns the long-term interests of eco regions societies, and individuals. They seek relatively conservative sustainable development schemes that would be amiable to measuring well-being over long periods of tie, typically â€Å"seven generations†, in line with Native American thought.Weather trading However, this is not the only way in which commodity thinking interacts with ecologists’ thinking. Hedging began as a way to escape the consequences of damage done by natural conditions. It has matured not only into a system of interlocking guarantees, but a lso into a system of indirectly trading on the actual damage done by weather, using weather derivatives for a rice, this relieves the purchaser of concerns such as whether a freeze will hurt the Brazilian coffee crop, whether there will be a drought in the U. S. orn belt and what the chances that we will have a cold winter are, driving natural gas prices higher and creating havoc in Florida orange areas. Emissions Trading Weather trading is just one example of â€Å"negative commodities†, units of which represent harm rather than good. â€Å"Economy is three fifths of ecology argues Mike Nickerson one of many economic theorists who hold that nature’s productive services and waste disposal services are poorly accounted for. One way to fairly allocate the waste disposal capacity of nature is â€Å"cap and trade†- market structure that is used to trade toxic emissions rights in the United States, e. . SO2. This is in effect a â€Å"negative commodity†, a ri ght to throw something away. In this market, the atmosphere’s capacity to absorb certain amounts of pollutants is measured, divided into units, and traded amongst various market players. Those who emit more SO2 must pay those who emit less. Critics of such schemes argue that unauthorized or unregulated emissions still happen, and that â€Å"grandfathering† schemes often permit major polluters, such as the state governments’ own agencies, or poorer countries, to expand emissions and take jobs, while the SO2 output still floats over the border and causes death.In practice, political pressure has overcome most such concerns and it is questionable whether this is a capacity that depends on U. S. clout: The Kyoto Protocol established a similar market in global greenhouse gas emissions without U. S. support. Community as a commodity This highlights one of the major issues with global markets of either the positive or negative kind. A community must somehow believe tha t the commodity instrument is real, enforceable, and well worth paying for. Avery substantial part of the anti-globalization movement opposes the Commodification of currency, national sovereignty, and traditional cultures.The capacity to repay debt, as in the current global credit money regime anchored by the Bank for international settlements, does not in their view correspond to measureable benefits to human wellbeing worldwide. They seek a fairer way for societies to compete in the global markets that will not require conversion of natural capital to natural resources nor human capital to move to developed nations in order to find work. Some economic systems green economists would replace â€Å"gold standard† with a â€Å"biodiversity standard†. It remains to be seen if such plans have any merit other than as olitical ways to draw attention to the way capitalism itself interacts with life. Human life as a commodity The green economists and the more conservative envi ronmental economics argue that not only natural ecologies, but also the life of the individual human being is treated as a commodity by the global markets. A good example is the IPCC calculations cited by the Global Commons Institute as placing a value on a human life in the developed world â€Å"15x higher† than in the developing world, based solely on the ability to pay to prevent climate changes. Overview of commodities exchange in IndiaForward Markets Commission (FMC) headquartered at Mumbai, is a regulatory authority which is overseen by the Ministry of Consumer Affairs, Food and Public Distribution, Govt. of India. It is a statutory body set up in 1953 under the Forward Contracts (Regulation) Act, 1952. â€Å"The Act provides that the Commission shall consist of not less than two but not exceeding four members appointed by the Central Government out of them being nominated by the Central Government to be thereof. Currently Commission comprises three members among whom Shri. B. C. Khatua, IAS, IS THE Chairman and Shri.D. S. Kolamkar IES, and Shri Rajeev Kumar Agarwal, IRS, are the members of the commission. † The functions of Forward Markets Commission are as follows: (a) To advise the Central Government in respect of the recognition or the withdrawal of recognition from any association or in respect of any other matter arising out of the administration of the Forward Contracts(Regulation) Act 1952. (b) To keep forward markets under observation and to take such action in relation to them, as it may consider necessary, in exercise of the powers assigned to it by or under the Act. c) To collect and whenever the Commission thinks it necessary, to publish information regarding the trading conditions in respect of goods to which any of the provisions of the act is made applicable, including information regarding supply, demand and prices, and to submit to the Central Government, periodical reports on the working of forward markets relating to suc h goods. (d) To make recommendations generally with a view to improving the organization and working of forward markets. (e) To understand the inspection of the accounts and other documents of any recognized association or any member of such association whenever it considers.List of Commodity Exchanges in India 1. Batinda Om ; Oil Exchange Ltd. , Batinda. 2. The Bombay Commodity Exchange Ltd. , Mumbai 3. The Rajkot Seeds oil ; Bullion Merchants` Association Ltd 4. The Kanpur Commodity Exchange Ltd. , Kanpur 5. The Meerut Agro Commodities Exchange Co. Ltd. , Meerut 6. The Spices and Oilseeds Exchange Ltd. 7. Ahmedabad Commodity Exchange Ltd. 8. Vijay Beopar Chamber Ltd. , Muzaffarnagar 9. India Pepper ; Spice Trade Association, Kochi 10. Rajdhani Oils and Oilseeds Exchange Ltd. , Delhi 11. National Board of Trade, Indore 12. The Chamber Of Commerce, Hapur 13. The East India Cotton Association, Mumbai 4. The Central India Commercial Exchange Ltd. , Gwalior 15. The East India Jute ; He ssian Exchange Ltd. 16. First Commodity Exchange of India Ltd, Kochi 17. Bikaner Commodity Exchange Ltd. , Bikaner 18. The Coffee Futures Exchange India Ltd, Bangalore 19. Esugarindia Limited 20. National Multi Commodity Exchange of India Limited 21. Surendranagar Cotton oil ; Oilseeds Association Ltd 22. Multi Commodity Exchange of India Ltd 23. National Commodity ; Derivatives Exchange Ltd 24. Haryana Commodities Ltd. , Hissar 25. e-Commodities Ltd Of these 25 commodities exchanges the MCX, NCDEX and NMCEIL are the major Commodity Exchanges.Multi  commodity exchange  of India Ltd – MCX is an independent and de-mutualised exchange based in Mumbai. Established on 10 November, 2003, it is the third largest bullion exchange and fourth largest energy exchange in the world. Recognized by the Government of India it deals in numerous commodities and carries out online trading, clearing and settlement processes for commodities future market  countrywide. MCX COMDEX is India's foremost and sole composite commodity futures price index National Commodity & Derivatives Exchange of India Ltd (NCDEX) located in Mumbai, is a public limited company incorporated on 23rd April 2003.Promoted by national level establishments it is run by professional management. Regulated by the Forward Market Commission with reference to futures trading in commodities, it trades in various commodities online. The NCDEX is covered by: * Companies Act * Stamp Act * Contracts  Act * Forward Commission (Regulation) Act National Multi-Commodity Exchange of India Limited (NMCEIL) is considered the first de-mutualized, online exchange dealing in numerous commodities. Incorporated on 20th December 2001, it is promoted and run by: * Central Warehousing Corporation National Agricultural Cooperative Marketing Federation of India Limited * Gujarat Agro Industries Corporation Limited * National Institute of Agricultural Marketing * Gujarat State Agricultural Marketing Board * Neptune Overseas Limited The Commodity Exchanges with their extensive reach embrace new participants, resulting in a powerful price discovery process. COMPANY PROFILE Evolution of the company It all started in the year 1987 when Mr. C. J. George and Mr. Ranajit Kanjilal founded Geojit as a partnership firm. In 1993, Mr. Ranajit Kanjilal from the firm and Geojit became the proprietary concern of Mr.C. J. George. In 1994, it became a Public Limited Company named Geojit Securities Ltd. The Kerala State Industrial Development Corporation Ltd. (KSIDC) in 1995, became a co-promoter of Geojit by acquiring a 24 percent stake in the company, the only instance in India of a government entity participating in the equity of a stock broking company. The year 1995 also saw Geojit being listed on the leading regional stock exchanges. Geojit listed at the stock exchange, Mumbai (BSE) in the year 2000. Company’s wholly owned subsidiary, Geojit Commodities Ltd. launched Online Future Trading in Agri -commodit ies, precious metals and energy futures on multiple commodity exchanges in 2003. This was also the year when the company was renamed Geojit Financial Service Ltd. (GFSL). The Board consists of professional directors; including a Kerala Government nominee. With effect from July 2005, the Company is also listed at National Stock Exchange (NSE). Company is a character member of the Financial Planning Standards Board of India and is one of the largest Depository Participant (DP) brokers in the country.On 31st December 2007, the company closed its commodities business and surrendered its membership in the various commodity exchanges held by Geojit Commodities Ltd. Global banking major BNP Paribas took a stake in the year 2007 to become the single largest shareholder. Consequently, Geojit Financial Services Ltd. has been renamed as Geojit BNP Paribas Financial Services Ltd. VISION The vision of Geojit is to be leading financial and commodities market intermediary for individuals and insti tutional clients from India band overseas.They continually strive to raise their products and service standards by intelligent application of technology and processes. MANAGEMENT OF GEOJIT COMTRADE Geojit COMtrade offers trading services in Commodities Futures. It is managed by a group of professionals having considerable years of experience and expertise in Commodities, ever since the reintroduction of Commodities Futures in India in 2003. Geojit COMtrade offers its client state-of-art trading tools such as:    * | * Technical and fundamental analysis at this website and also through the company's large branch network | * | * Research Reports | | * SMS alerts on market movement | * | * Content rich website | * | * Online trading | * | * Facility to view online ledger, holdings, positions, etc. | Geojit COMtrade also conducts seminars, distributes free in-house literature and holds interactive sessions that help raise awareness on the future market. The number of participants is c ontinuously on the rise thus leading to increased volumes and market efficiency. Geojit COMtrade is a member of the following Exchanges: * National Multi Commodity Exchange of India Limited (NMCE) | | * National Commodity ; Derivatives Exchange Limited (NCDEX) | | * Multi Commodity Exchange of India Limited (MCX) | | * National Spot Exchange of India Ltd (NSE) | Geojit COMtrade offers futures trading through multiple exchanges in varied commodities such as: Agricultural Commodities: | * Plantation Crops like Rubber, Coffee, Arecanut, etc. | | * Spices like Pepper, Cardamom, Turmeric, Jeera, Chilly, etc. | | * Pulses like Chana | | * Oil ; Oil Seeds like Refined Soya oil, Soya bean, Cotton seed, Mustard Seed, Mustard oil, etc. | * Cereals like Maize | | * Other commodities like Guar gum, Guar seed, Menthaoil, Potato, Sugar, etc. | | * Commodity Spot products like E Gold, E Silver, E Copper, E Lead, and E Zinc. | Precious metals: | * Gold, Silver, and Platinum | Metals: | * Copper, Le ad, Aluminum, Steel, Tin, Nickel, Zinc, etc. | Energy products: | * Crude oil, Natural Gas, Carbon Credits, etc. MILESTONES | | | Product innovation backed by a high level of domain specific knowledge and state-of-the-art technology has helped Geojit to set many milestones including numerous industries. 986 * Membership in Cochin Stock Exchange (CSE). 1994   * Becomes a Public Limited Company named Geojit Securities Ltd. 1995   * Kerala State Industrial Development Corporation Ltd. (KSIDC) acquires 24 percent equity stake. * Membership in National Stock Exchange (NSE). * Public Issue  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1996 * Launch of Portfolio Management Services with SEBI registration. 1997   * Depository Participant (DP) under National Securities Depository Limited. 1999   * Membership in Bombay Stock Exchange (BSE). 2000 * BSE Listing. * 1st broking firm in India to offer online trading facility. * Commences Derivative Trading with NSE. Integrates the 1st Bank Payment Gateway in the country for Internet Trading. 2001 * Becomes India's first DP to launch depository transactions through Internet. * Establishes Joint Venture in the UAE to serve NRI customers. 2002 * 1st in India to launch an integrated internet trading system for Cash & Derivatives segments. 2003 * Geojit Commodities Limited, wholly owned subsidiary, launched Online Futures Trading in agri-commodities, precious metals and in energy futures on multiple commodity exchanges. * National launch of online futures trading in Rubber, Pepper, Gold, Wheat and Rice. Company renamed as Geojit Financial Services Ltd. 2004 * National launch of online futures trading in Cardamom. 2005 * NSE Listing. * Geojit Credits, a subsidiary, registers with RBI as a Non-Banking Financial Company (NBFC). * National launch of online futures trading in Coffee. 2006 * Charter member of the Financial Planning Standards Board of India. 2007 * BNP Paribas takes a stake in the company’s equity, making it the single larg est shareholder. * Establishes Joint Venture in Saudi Arabia to serve the Saudi national and the NRI. 2008 * BNP Paribas Securities India (P) Ltd. – a Joint Venture with BNP Paribas S. A. or Institutional Brokerage. * 1st brokerage to offer full Direct Market Access execution in India for institutional clients. 2009 * Launch of Property Services division. * Launch of online trading in Currency Derivatives. * Consequent to BNP Paribas becoming the largest stakeholder in Geojit BNP Paribas, company is renamed as Geojit BNP Paribas Financial Services Ltd. 2010 * Launch of  FLIP (Financial Investment Platform), a new advanced online investment platform. * Launch of state of the art Mobile Trading platform to empower clients to trade from anywhere, even while on the move through the innovative application FLIP- ME. | | | | | Board of DirectorsMr. A. P. Kurian  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent ChairmanMr. C. J. George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Managing Director & Chief PromoterMr. Alkeshkumar Sharma  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. Olivier Le Grand  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Pierre Rousseau  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Mahesh Vyas   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. RakeshJhunjhunwala   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr.Ramanathan Bupathy   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. Pun noose George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorA growing footprintWith a presence in almost all the major states of India, the network of 558 offices across 300 cities and towns presently covers Andhra Pradesh, Bihar, Chattisgarh, Goa, Gujarat, Haryana, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, New Delhi, Orissa, Punjab, Rajasthan, Tamil Nadu & Pondicherry, Uttar Pradesh, Uttaranchal and West Bengal.GEOJITCOMMODITIES * Number 1 Broking house status in terms of Trading Terminals : Dun & Bradstreet Survey 2008 * The first brokerage to offer online trading in Rubber (Mar 2003), Pepper (Apr2003), Gold (Oct2003), Wheat and Rice (Dec2003), Cardamom (Apr 2004) and Coffee (Feb2006) * Brand image of Industry Pioneer since inception of commodity futures in 2003| Its clientele range from investors, co-operative societies, state and national institutions to dealers, traders, manufacturers, financiers, speculators, arbitragers, etc.Geojit COMtrade does not have proprietary interest in any commodity and therefore is price neutral. Transaction costs are highly affordable attracting a spectrum of investors. Membership in multiple exchanges gives clients the added advantage of arbitrage. Geojit has specialized staff that provide the required guidance, help and enable clients to enter at the appropriate price. Geojit COMtrade: Increasing investor awareness/education * Daily, weekly and special reports on various commodities & currencies covering both international as well as domestic markets. Seminars and workshops designed to help both the new clients as well as experienced traders. * Increased media spending to make ourselves more visible in print, visual as well as digital media, so that our reports and views reach better to our investo rs. * Offers SMS / email reports at no additional cost. GEOJIT ANTHEM DRIVEN BY TRUST â€Å"With trust, our driving force Transparent in daily chores, Passionate, compassionate, We keep Geojit on course Respectful of our call We care for our patrons’ all. Grateful for our growth before We seek blessings to grow tall. Shanti ho barabaar shanti ho Sayyam, Samridhi, Swaasthya ho,Geojit Jahaan ho! Expanding far and wide, And serving the world with pride, Loyalty inspiring us To be beyond the high tide; A brighter word to make Unfurling the flag we take; â€Å"All for one and one for all,† With love to last above all. DEPARTMENTAL STUDY Administration * Provides support and service for the activities of the board of directors * Coordination of branch activities and provision of interaction between branches and the main office * Expanding the reorganization of Bank market network. * To create appropriate condition for efficient operation of structural franchisees Human reso urceHuman Resources and Administration department is one, which facilitates smooth working of the organization by looking into the human resource side and also the overall administration of organization. The Human Resource Management is very important for the success of any organization. Different individual exhibit similar and dissimilar pattern of behavior. They have their own set of needs, drives, goals and experiences. Management should be aware of their requirements. Manpower management is the most critical job. Proper human resources management will enhance the efficiency and performance of people at work.HR MISSION * To create HR policies and processes which are employee friendly * To build a culture of warm forthcoming and professional with a sense of ownership and pride. * To encourage innovative thinking. * To encourage transparency and team work. * To develop leaders at all levels with general management skills. * To create a learning organization. * To develop competenci es and skills through training and development. * To constantly raise levels of employee productivity. * To work towards attaining and sustaining the best employer status Other functions ofHuman Resource Department RecruitmentRecruitment means generating a pool of qualified employees for job. Announcing job opportunities to public in such a way that number of suitable people will apply for them. Recruitment process is done only at the initial stage. Mainly qualified people are selected for work. Selection Selection means choosing right profile from that number, those applicants whom are most likely to succeed in the job. After getting the list of candidates an interview is conducted at the unit level. Final selection is made after testing their skill and technical abilities by putting them on the job. Training and developmentTraining and development is also done in Geojit. After recruitment and selection the new hands are given on the job training at the unit level. All workers are kept as trainers for three months to one year. Later they are absorbed as permanent workers considering their performance. Promotion Promotion is the transfer of an employee to a new position which comments high pay, privilege status both at work and the community outside and fringe benefits perhaps the greater job security. And more senior position from which a person render better service to his company. His duties, responsibilities, status and pay also increase.Company gives keen attention with regard to promotion. Wage structure Wage structure is different for different position Allowances Second most important component of wage package is dearness allowance, which is paid to offset the rise in prices. Allowances like conveyance, house rent etc. Employees provident fund Company follows contributory provident fund. The workers contribute some percentage of their wage (basic pay + DA) and the management contributes at an equal rate. Labor welfare fund There is a labor welfare fund in which the employee contributes some rupee per head and the employer contributes at double to the same.The fund enables the subscriber to get children treatment of self and dependents etc†¦ Thus all employees are covered social security schemes of government, enabling education of children of workers etc. Gratuity Employees are eligible for the gratuity based on payment of Gratuity Act, 1972 Welfare to workers Rest room A rest mean is covered provided to employees to relax at concerned time. Facilities of relaxing The company also provides siting facilities for workers when they are getting interval or lunch. Health One of the important thing is that the employees general health both physical and mental should be cared.The factors which influence the general health of the worker can be divided into two broad groups. 1) Those which are associated with his working environment 2) Those which he shares with the rest of the community Cleanliness The company is kept clean and free from effluvia. Accumulation of dust removed by proper drainage facility made in the chemical treatment. Walls, doors and windows shall be repainted or varnished at least once in three years Disposal of waste and effluence Effective arrangement shall be made for the disposal of waste. It does not harm any local people in any way. Ventilation and temperatureEffective arrangements shall be made for ventilation and temperature so as to provide comfort to the workers and prevent injury to their health. Adequate ventilation is made for fresh air. Air condition is provided for every room. Dust and fires Effective management shall be taken preview the inhalation and accumulation of dust and fires or other impurities in parities at workplace. Lighting The state government may prescribe standards of proper artificial nature lighting facilities are included. Drinking water There shall be effective arrangements for some drinking water for worker at convenient points.FINANCE AND ACCOUNTS Financ e is the lifeblood of any organization. It deals with both the acquisition as well as ‘allocation of funds. Hence finance department assumes a great role in this organization. A finance department in an organization is responsible for maintaining fair and just accounting, working capital management, long term funding decision making, costing etc. The finance department provides authorization and control to all other subsystems to utilize money more effectively through a well-designed mechanism the major functions of a finance department can be grouped as follows:- )Preparation of financial statement 2) Providing sufficient funds to all departments. 3) Cash flows within the firm 4) Cash forecasting and budgeting 5) Analysis of transactions conducted by each branch office 6) Pay in and Pay out DUTIES AND RESPONSIBILITIES Chief financial officer is the head of the finance department the entire financial operationsare controlled and coordinated by C. F. O. The entire reports are s ubmitted before him and it is his duty to take appropriate steps. He is assisted by Chief Manager Finance. The general accounts of the company are managed by the Chief Manager.Preparation of reports and statements also conies under his duty, matters concerning pay in and pay out are also determined and analyzed by Chief Finance Manager. The Chief Manager is assisted by Manager Finance. Below him there are two assistant managers, four executives and three junior executives. It is the duty of these people to record and analyze the normal accounts and transactions of a day and to report it to Chief Manager Finance. HIERARCHY OF AUTHORITY CHIEF FINANCIAL OFFICER CHIEF MARKETING OFFICER (fig-1)Department structural hierarchy JUNIOR EXECUTIVE EXECUTIVE ASSISTANT MANAGERMANAGING OFFICER The departmentis concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better  equipped in their management and control functions. The accounting department jointly performs the financial function of Geojit Functions of accounting department include preparing, checking and accounting the following vouchers and  bills. ? Cash receipt and cash payment. ?Bank receipt and bank payment. ? Purchase journal. Journal voucher. ?Preparing debit/credit notes. Updating vouchers in computer system. ?Preparation of reconciliation statement such as bank, party accounts etc. ?Maintain and safe custody of vouchers, records, ledgers and registers. ?Review of the general  ledger and sub ledger and reconciliation. ?Ensure safety custody of cash and  unused cheque. ?Maintain the fixed asset register and ensure proper filling of the bills of purchase, installation certificate etc. for the tax purpose. ?Ensure compliance of the various commitments for the borrowings and adherence of the schedule for the repayment of the interest and the principal.OPERATIONS DEPART MENT The past few decades have given-emphasis to operations functions mainly because it is the important subsystem of an organization and is responsible for customer satisfaction. As this department deals directly with customer satisfaction the company requires careful policies and procedures to carry out the activities under the operations department so that the services provided by them must be of a specific quality. The operations department of Geojit is again subdivided into five according to the services they deal with. They are 1) Risk management ; clearing and settlement ) Compliance 3) Commodity 4) Branch operations 5) Depository A study of each of these subdivisions is made their hierarchy, function of each official and the findings are noted in the coming pages. RISK MANAGEMENT ; CLEARING AND SETTLEMENT This is one of the subdivisions of the operations department. As stated earlier the operations departments are subdivided according to the functions they perform. Hence it is this subdivision of operations department which deals with the function of management of funds that arise from trading.Though buying and selling of shares take place daily in stock exchanges, settlements of transactions is executed for a specified no: of days after clubbing daily transactions for the entire period. This is known as settlements cycle. For example the beginning of a new settlement is on Wednesday of every week in N. S. E and it ends on next Tuesday. So it is the duty of this subdivision of the operations department to keep the recordsregarding transactions of each customer analyze whether he had made all the transactions in a proper way or not.It is the duty-of this department to check whether a person has paid the amount completely, if he had bought any shares and also to check whether the person is paid completely if he had sold the shares through Geojit. The chief manager (Risk and settlement) stands up in the hierarchy of the department and hence he is the head of the department. He controls and coordinates all the functions of this subdivision. Risk management of funds (of company and its branches) is one of the major functions. The chief manager is assisted by the senior manager (clearing and settlement).The senior manager (clearing and settlement) deals with the process of buying andselling of shares and thereby maintaining proper funds. There is an Asst. Manager under himwho checks the B. S. E operations. The Asst. Manager is assisted by three ‘senior executives' further there are executives junior executives and office assistants to help the topmanagement. A diagrammatic representation of the hierarchy of this departmental subdivision is given on next page. MANAGEMENT ; CLEARNING ; SETTLEMENT CHIEF MANAGER (RISK) SENIOR MANAGER (CLEARING ; SETTLE