Olympic Foods, a Processor of Frozen Foods Essay Example for Free

Olympic Foods, a Processor of Frozen Foods Essay After some time, the expenses of preparing go down in light of the fact that as associations figure out how to improve, they become increasingly effective. In shading film preparing, for instance, the expense of a 3-by-5-inch print tumbled from 50 pennies for five-day administration in 1970 to 20 pennies for one-day administration in 1984. A similar rule applies to the preparing of food. What's more, since Olympic Foods will before long praise its 25th birthday celebration, we can expect that our long experience will empower us to limit expenses and consequently expand benefits. The Olympic Foods attempts to persuade its investors through its yearly report that it can build benefits as it has long understanding. This is upheld by contrasting and a shading film industry in which, the expense of a 3-by-5-inch print feel from 50 pennies for five-day administration in 1970 to 20 pennies for one-day administration in 1984. This contention makes a few presumptions which isn't bolstered with confirmations. The Olympic Foods wrongly contrasts itself and a shading film handling industry. The methods and condition appropriate to the shading film handling industry may not be relevant to the food preparing industry. What applies to a shading film may not have any significant bearing to food. For instance, independent of the company’s experience, the time taken for a food to age would not change fundamentally. Simply the 25 years of experience can't be referenced as a purpose behind expanded benefits. Different factors, for example, atmosphere, showcase rivalry would likewise influence the benefit of an organization. With every single such figure taken thought, in the event that it tends to be demonstrated that experience helps in lessening costs and boosting benefits, the contention would be reinforced. Since the contention misses a few key issues, it isn't sound. On the off chance that it incorporated the focuses talked about over, the contention could have been intensive and additionally persuading.

Biography of Dmitri Mendeleev, Periodic Table Inventor

Account of Dmitri Mendeleev, Periodic Table Inventor Dmitri Mendeleev (February 8, 1834â€February 2, 1907) was a Russian researcher most popular for conceiving the advanced occasional table of components. Mendeleev likewise made significant commitments to different territories of science, metrology (the investigation of estimations), farming, and industry. Quick Facts: Dmitri Mendeleev Known For: Creating the Periodic Law and Periodic Table of the ElementsBorn: February 8, 1834 in Verkhnie Aremzyani, Tobolsk Governorate, Russian EmpireParents: Ivan Pavlovich Mendeleev, Maria Dmitrievna KornilievaDied: February 2, 1907 in Saint Petersburg, Russian EmpireEducation: Saint Petersburg UniversityPublished Works: Principles of ChemistryAwards and Honors: Davy Medal, ForMemRS Spouse(s): Feozva Nikitichna Leshcheva, Anna Ivanovna PopovaChildren: Lyubov, Vladimir, Olga, Anna, IvanNotable Quote: I found in a fantasy a table where all components became all-good as required. Arousing, I promptly recorded it on a bit of paper, just in one spot did a remedy later appear to be fundamental. Early Life Mendeleev was conceived on February 8, 1834, in Tobolsk, a town in Siberia, Russia. He was the most youthful of an enormous Russian Orthodox Christian family. The specific size of the family involves debate, with sources putting the quantity of kin somewhere in the range of 11 and 17. His dad was Ivan Pavlovich Mendeleev, a glass maker, and his mom was Dmitrievna Kornilieva. Around the same time that Dmitri was conceived, his dad went dazzle. He passed on in 1847. His mom assumed the administration of the glass manufacturing plant, yet it torched only a year later. To give her child instruction, Dmitris mother carried him to St. Petersburg and enlisted him in the Main Pedagogical Institute. Before long, Dmitris mother passed on. Instruction Dmitri moved on from the Institute in 1855 and afterward proceeded to acquire an experts degree in training. He got a cooperation from the administration to proceed with his investigations and moved to the University of Heidelberg in Germany. There, he chose not to work with Bunsen and Erlenmeyer, two recognized scientific experts, and rather set up his own research center at home. He went to the International Chemistry Congress and met huge numbers of Europes top scientific experts. In 1861, Dmitri returned to St. Petersburg to procure his P.hd. He at that point turned into a science teacher at the University of St. Petersburg. He kept on instructing there until 1890. The Periodic Table of the Elements Dmitri thought that it was elusive a decent science course book for his classes, so he composed his own. While composing his course reading, Principles of Chemistry, Mendeleev found that on the off chance that you mastermind the components arranged by expanding nuclear mass, their substance properties showed positive trends. He considered this revelation the Periodic Law, and expressed it along these lines: When the components are organized arranged by expanding nuclear mass, certain arrangements of properties repeat intermittently. Drawing on his comprehension of component attributes, Mendeleev masterminded the known components in an eight-section network. Every segment spoke to a lot of components with comparative characteristics. He considered the lattice the periodicâ table of the components. He introduced his network and his intermittent law to the Russian Chemical Society in 1869. The main genuine contrast between his table and the one we use today is that Mendeleevs table arranged components by expanding nuclear weight, while the current table is requested by expanding nuclear number. Mendeleevs table had clear spaces where he anticipated three obscure components, which ended up being germanium, gallium, and scandium. In light of the intermittent properties of the components, as appeared in the table, Mendeleev anticipated properties of eight components altogether, which had not been found. Composing and Industry While Mendeleev is associated with his work in science and the arrangement of the Russian Chemical Society, he had numerous different interests. He composed in excess of 400 books and articles on points in well known science and innovation. He composed for conventional individuals, and made a library of mechanical information. He worked for the Russian government and turned into the executive of the Central Bureau of Weights and Measures. He turned out to be exceptionally intrigued by the investigation of measures and did a lot of research regarding the matter. Afterward, he distributed a diary. Notwithstanding his inclinations in science and innovation, Mendeleev was keen on assisting with creating Russian farming and industry. He headed out far and wide to find out about the oil business and helped Russia to build up its oil wells. He additionally attempted to build up the Russian coal industry. Marriage and Children Mendeleev was hitched twice. He marry Feozva Nikitchna Leshcheva in 1862, yet the couple separated following 19 years. He wedded Anna Ivanova Popova the year after the separation, in 1882. He had an aggregate of six youngsters from these relationships. Passing In 1907 at age 72, Mendeleev kicked the bucket from this season's cold virus. He was living in St. Petersburg at that point. His final words, addressed his PCP, supposedly were, Doctor, you have science, I have confidence. This may have been a statement from the well known French essayist Jules Verne. Heritage Mendeleev, notwithstanding his accomplishments, always lost a Nobel Prize in Chemistry. Indeed, he was disregarded for the respect twice. He was, notwithstanding, granted the lofty Davy Medal (1882) and ForMemRS (1892). The Periodic Table didn't pick up acknowledgment among physicists until Mendeleevs expectations for new components were demonstrated to be right. After gallium was found in 1879 and germanium in 1886, obviously the table was very exact. When of Mendeleevs demise, the Periodic Table of Elements was globally perceived as one of the most significant apparatuses ever made for the investigation of science. Sources Bensaude-Vincent, Bernadette. â€Å"Dmitri Mendeleev.†Ã‚ Encyclopà ¦dia Britannica, Inc., 25 Feb. 2019.Gordon. â€Å"Mendeleev - the Man and His Legacy...†Ã‚ Education in Chemistry, 1 Mar. 2007.Libretexts. â€Å"The Periodic Law.†Ã‚ Chemistry LibreTexts, Libretexts, 24 Apr. 2019.

Kants Notion Of Duty And The Role Of Feelings In Moral Conduct Essay

Kant's Notion Of Duty And The Role Of Feelings In Moral Conduct Essay Kant's Notion Of Duty And The Role Of Feelings In Moral Conduct â€" Essay Example > ‘In his paper “The Conscience of Huckleberry Finn”, Jonathan Bennett seems to suggest that acting on sentiment or fellow feeling is generally superior to acting from principles of duty’IntroductionThe primary goal of this essay is to establish the researcher’s position on the above issue. The essay includes a critical analysis of whether actions based on emotions and feelings surpass those sanctioned by moral obligation. The case study of this research is Bennett’s discourse, The Conscience of Huckleberry Finn. The research includes as well a review of Kant’s deontology â€" duty ethics with specific focus on how it relates to two of the characters in the case study. Emotions and choice of actionJonathan Bennett's notion as illustrated in ‘The Conscience of Huckleberry Finn’ is in the estimation of the mind of a prudent person incorrect to say the least. Emotion and sentiments do not constitute a viable ground to base human action on. There is a reasonable ground to believe that decisions triggered by human sentiments and feelings are likely to be subjective. This subjectivity in choice of action is a dangerous phenomenon as there are certain life-changing decisions that are too technical to be made at the peril of petty human emotions. Conscience There is that internal voice that guides rational beings in distinguishing right from wrong. It compels human beings to choose a particular course of action given particular circumstances. This internal aspect of human being that dictates our choices is loud, equivocal and more often than not quite hard to ignore â€" it is referred to as a conscience. All rational beings possess a conscience, which enables them to reason before making any rushed decisions triggered by their present state of emotion. This particular aspect of rational beings: their ability to reason is what distinguishes them from other irrational beings like animals. Given certain circumstances, a rational person ought to act in a way that any other equally diligent and rational being would have acted if they were in that same situation. Human beings are often under enormous stress or other negative emotions. While under such emotions, our actions and choices of action towards others, in any given circumstances, are likely to be biased by our feelings. As opposed to Bennett’s view of acting upon sentiments, one ought to behave in a way that would be universally acceptable. Our action in all circumstances should take a course that we would want to see becoming a universal law. This is the underlying philosophy in Immanuel Kant’s categorical imperative. The categorical imperativeThe categorical imperative (CI) forms the basic principle of moral reasoning as espoused in Kant’s deontology. The nature of the categorical imperative qualifies it as a categorical syllogism â€" that which includes a conclusion inferred from premises by way of deductive reasoning. One of the premises which is also the first m axim of CI is. ..a course of action undertaken by an individual is morally upright only if they perceived it, without exceptions, as the course that a reasonable person would undertake in similar situations. The subsequent premise and maxim is that one only acts morally only if ‘they regard others as ends and not means to an end’. Hence, a moral act is that which is deductible from these premises.

Historical Report on Race - 756 Words

The force of migration was unique in American history. In the mid 1500s, European mariners started bringing colored Africans to America as slaves. The Africans were brought over by ship where 1 out of every 5 captives died by time the ship got to the Atlantic seacoast. The slaves were chained below docks in very cramped spaces while they were being transported. When they reached America they were auctioned off to owners who used them primarily as plantation workers. Slave owners had the right to harshly punish them and break up families by selling off family members. Slavery was a tough time for African Americans but more so a significant event in the American history. Around the 17th and 18th centuries is when some blacks started†¦show more content†¦The Ku Klux Klan was known for terrorizing African Americans by lynching’s and the burning of homes, school, and churches. The departure of Northern troops in 1877 made the white power structure return once again to the South. The Thirteenth Amendment to the Constitution was ratified which prohibited slavery but The Jim Crow Laws were then developed, segregating blacks for white society. Blacks were not able to vote, use the same bathrooms, go to the same schools, or live in the same neighborhoods as Whites. The everyday life of African Americans was constantly threatened still in the South. With all the foolery going on in the South, many Blacks started to migrate to the North due to the increase in demand for industrial workers thanks to World War I. African Americans lives improved drastically in the North, as they were able to have things the South didn’t allow. There was also discrimination in the North but not as much as what the South offered. Black urban culture became to blossom and what is known as the Harlem Renaissance. The Harlem Renaissance was the gathering of black artists and philosophers. People like Larry Hughes, Marcus Garvey, Louis Armstrong, and man ot her people were all part of the Harlem Renaissance. The Depression is what really brought together Whites and Blacks for the first time. Farmers’ unions in the SouthShow MoreRelatedHistorical Report on Race Essay1342 Words   |  6 PagesIndividual Historical Report on Race Search the Internet for groups and organizations promoting racial equality to help you complete this assignment.    Using the information from the text and your web search:    Identify one racial group from the list below:    †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   African American †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Asian American †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Middle Eastern American †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Hispanic American/Latino †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Native American    Write a 750- to 1,050-word paper from one of the perspectives below:    †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ARead MoreHistorical Report on Race Eth/125 Essay904 Words   |  4 PagesHistorical Report on Race Jim, it was great to hear from you after so many years of us not getting in touch with each other. You mentioned in your last letter that you were writing a research paper on the African American history in the United States, and you were hoping I could share some of my experiences and knowledge of my race for your paper. I would love to offer my insight to you for your research. You may be surprised to find out that the first Africans came to North America a full yearRead MoreThe Journal Of The Elaine Race Riots980 Words   |  4 PagesIn the Journal of the Elaine Race Riots, I got to know the basic criticism that was for almost all the Race Riots that had taken place. However, the sophisticated social, economic and racial analysis of the Racial Riots was relatively new on the scholarly scene. It was, therefore, not surprising comparatively to work that was been undertaken. The problems the poor Negroes faced during the 1919’s. The Negroes had worked hard to raise the cotton crops but there was some trouble regarding the settlementsRead MoreThe Social Problem Of Voting Rights1668 Words   |  7 Pagesinequalities and the society’s effort to have an all minority groups included in the civic process. The research will look into several historical factors that contributed to voting rights inequalities and how the society has evolved to solve iss ues related to the right to vote. History of problem and policy: when did the problem first emerge historically? What historical eras will you examine? Initially, the United States constitutions had no provisions that defined who was eligible to vote. There wereRead MoreRace, Class And Gender1032 Words   |  5 Pages IN WHAT WAYS DO RACE, CLASS AND GENDER SHAPE PRACTICES AND EXPERIENCES IN PRISON? DRAW ON THEORIES AND EXAMPLES/CASE STUDIES TO SUPPORT YOUR CASE. OVERVIEW This essay will explore how race, class and gender shapes practices and experiences in prison. Firstly, a discussion of prison in general is necessary. In other words, what constitutes prisons, its aims and objectives and prison culture (Reeves, 2015). Currently there are 38,845 prisoners in Australia (Australian Bureau of Statistics, 2016)Read MoreHistorical Significance of Multiple Books on Jim Crows Life and Career1254 Words   |  5 PagesSignificance The author of this report is asked to answer to a series of specific questions as it relates to a certain book written about Jim Crow and the wider historical and social significance of the same. The Supreme Court decision that involved Jim Crow and the separation of blacks and whites is to be discussed as well as a general reaction to the book. All of this and more will be covered. The Woodward work is recognized as one of the most hard-hitting and honest historical reviews of slavery and state-sanctionedRead MoreThe Impact Of British Colonialism On Indigenous Australians1560 Words   |  7 Pagesdependent, this, enables an understanding in terms of the present situation of disadvantage. Hollinsworth (2008) maintains that the historical impact of colonisation by Europeans on Indigenous Australians, is the basis for contemporary racism in Australia (pp. 35,67,77,79-80,83-84,97). This is supported by, The Royal Commission into Aboriginal Deaths in Custody (1991) report, which, high lights the impact of European settlement on the dispossession and institutional racism of Indigenous peoples. ThisRead MoreHigh School Graduation Rates For Toronto District School Board1359 Words   |  6 Pagespopulation, achievement gaps have become apparent in data collected in various internal and external reports on student achievement. Students from racial backgrounds, immigrant families and from the LGTBQ population are graduating at a lower rate than Canadian born, white youth. The data became undeniable in the seventh grade nine cohort report conducted by TDSB Research Services. This cohort reports track students longitudinally from their entry into grade nine until their departure. In the TDSB itRead MoreFanny Taylors False Claim in Rosewood Report and Film739 Words   |  3 Pagesin search for the person responsible. According to the rosewood report these angered mobs had killed about eight blacks including Sam Carter who supposedly knew where the acclaimed suspect was headed. There were numerous reports of the massacre from newspapers, citizens, and later the survivors of the rosewood events. Many if not all would offer there bias opinion as to what happen in the events of Rosewood, It was said in the report that â€Å"Most major Florida and Southern white newspapers ran theRead MoreThe Truth About Race And Americ It s Getting Worse, Not Better, By Gary Younge891 Words   |  4 PagesTruth About Race in America: It’s Getting Worse, Not Better,† by Gary Younge, the author utilizes factual information, historical allusions, and related quotes to effectively contend that race relations are worsening within the United States. Throughout the text, the author includes various facts and pieces of information in order to further convey his argument. By doing this, Younge is able to increase the credibility of his ideas and gain the trust of readers. He writes, â€Å"In a 2012 report, UCLA’s

Analysis Of The Book Three Days - 1572 Words

Three days. It had been three days since Jason had woken up on the snowy hill. That s all the information he recalled besides his name. There were two others, ones who had woken up. All three of them with no memory, not of the world, but just themselves. The air was thin. The cold bitter air blew fiercely across the desolate snowy landscape. Dense fog had made it near impossible to see beyond the hill. Not like there was much to see besides thousands of snow-covered trees. For three days nothing unusual has popped up, no signs of anything. No signs of other people. Maybe they had lived there all their lives. Jason thought he might as well think that as far as he was concerned since they had nowhere to go. â€Å"Find anything, Philip?† Jason asked eagerly while chopping wood. The axe he held was primitive, as were all things the trio used. Made of a sharp rock and a strong branch, tied together with tree bark. â€Å"Nope Jason,† the second one, named Philip, meekly replied, â€Å"just ice, snow and trees going on for miles.† â€Å"Well let’s just, uh, keep gathering wood. By tonight we should have enough to finish up the roof for our shelter,† Jason decided. â€Å"Yeah,† Philip sighed, showing his indifference, â€Å"let s do that.† Almost instantly after waking up on the hill, Jason had known exactly what to do. He immediately started ordering Philip and the other man, Ray, to gather wood, food and resources. Ray of course had other plans. He had no interest in group work.Show MoreRelatedProposal for Online Book Selling System1481 Words   |  6 Pageswhere everyone can be online at any given time. Under this environment, Online Book Selling can be useful to sell books on the Internet. Customers can purchase or get all books information without going through a bookstore. This proposal includes planed research, its benefits, qualifications to conduct the research, and cost analysis. We are confident that we have ability to perform this web application - Online Book Selling --The completion date for this project will be December 21, 2004. ProjectRead MoreWhat Is Evaluation And Evaluation Essay831 Words   |  4 Pages Evaluation and Analysis Global history is a largely documented aspect and the writers on this subject have adopted various approaches that are closely related. In an effort to keep their readers engaged, authors normally present the World Civilizations and the varied global experiences from a more revealing and insightful point of view. This analysis contains evaluation by specific authors that include Peter Stearns and colleagues, Stephen Morillo and Lynne Miles-Morillo as well as Bulliet andRead MorePalm Hospital Notes Essay1051 Words   |  5 PagesPalms Hospital (Traditional Project Analysis) Palms Hospital * 250 bed capacity; investor owned; Islamorada, Florida * Founded in 1946 by Rob Winslow, went back in 1967 after the war * High economic growth, population expansion * Acknowledged to be one of the leading healthcare providers in the area * Currently evaluating a proposed ambulatory (outpatient) surgery centre * More than 80% o all outpatient surgery is performed by specialists * Minor procedures take aboutRead MoreLupus Essay1106 Words   |  5 Pageschronic inflammatory disease. He has internal and external lupus that affects his internal organs and skin. He takes 15 pills a day just to make it through the day. He goes to the doctor three to four times a month just to keep track on how his body is working well with his everyday life (â€Å"health life2). Holland has to overcome major health issue just to make it thought the day. He really couldn’t do much in school so he drop out of school and got into a business program that allowed him to finish schoolRead MoreIntroduction. This Paper Is A Critical Analysis Of Two1147 Words   |  5 PagesINTRODUCTION This paper is a critical analysis of two academic papers: McKeown, J., Ryan, T., Ingleton, C., and Clarke, A., 2015, ‘You have to be mindful of whose story it is : The challenges of undertaking life story work with people with dementia and their families. Dementia, (Qualitative) and Milne, A., Guss, R., and Russ, A., 2014, Psycho-educational support for relatives of people with a recent diagnosis of mild to moderate dementia: An evaluation of a ‘Course for Carers . Dementia. (Quantitative)Read MoreBook Review Analysis of the Journals of Lewis and Clark1046 Words   |  5 PagesBook Review Analysis 1. General Information 1.A. The title of the book is The Journals of Lewis and Clark. 2.A. The authors are Meriwether Lewis and William Clark, edited by Bernard DeVoto 3.A. The publisher is Houghton Mifflin Company in 1953 4.A. The book is about Lewis and Clark’s personal journals kept over the duration of their exploration of previously unexplored territory. 2. Content Analysis 2.A. In the preface, the editor explains the differences between his and an editor namedRead MoreAnalysis Of The Central Asia Institute Three Cups Of Tea Scandal1713 Words   |  7 PagesThe Central Asia Institute â€Å"Three Cups of Tea† Scandal Introduction Public trust is the ultimate key to a successful nonprofit organization. Ethical board members must implement standards that prohibit CEOs and executive directors from taking unethical steps toward ultimate destruction of the overall organization. Greg Mortenson, the former executive director and co-founder of the Central Asia Institute made unethical decisions that made many people contributing towards the organization questionRead MoreEssay Financial Ratio and Industry Average1373 Words   |  6 Pagesa. Why are ratios useful? What three groups use ratio analysis and for what reasons? Financial ratios are designed to extract important information that might not be obvious simply from examining a firm’s financial statements. Financial statement analysis involves comparing a firm’s performance with that of other firms in the same industry and evaluating trend in the firm’s financial position over time. From the textbook , we know managers use financial analysis to identify situations needingRead MoreThe Story Of Creation And The Fall Of Man1074 Words   |  5 PagesThe Story of Creation and the Fall of Man The story of creation and the fall of man are the mainly studied and more diligently and critically analyzed in the Bible. They are contained in the first three chapters of the Book of Genesis. The creation story is highly criticized in light of scientists and other non believers due the controversy that exist between science and religion. While science is subjective, Religion is objective and thus based on opinion. Nevertheless, the Bible appears more correctRead MoreExternal Analysis And Dick s Drive912 Words   |  4 PagesExternal Analysis and Dick’s Drive-In When manipulating a business’s strategy, it is important to focus on the external factors in the environment. An external analysis is where a business conducts environmental scanning that present a company with the key external forces influencing the organization. The facets of external forces examined are the business environment, remote environment, or the competitive environment. A business environment is all of the external factors in the general environment

PD Ethics Free Essays

Freedom of speech means that a person or a body have a right to express them without any fear of suppression or penalty. It also means that there will not be any imposition of person’s speech. In today’s context, â€Å"Speech† is not limited to public speaking and it does include other forms of expression including social media. We will write a custom essay sample on PD Ethics or any similar topic only for you Order Now Australia does not have any explicit constitutional rights related to freedom of speech. However, parliamentarians are protected from criminal action such as fomentation when they express themselves inside the parliament. Background Australia had mix history of freedom of speech. As Australia does not have any explicit law regarding to freedom of speech, there were attempts to move towards liberation’s of censorship. The modern history of freedom of speech in Australia dates back to First World War. Hughes government increased censorship during the war. After the war as the government lost the wartime power, they introduced the Customs Act to keep out destabilize dogmatic works. During 1933-34, this method cached at peak as more than 100 books were banned. Due to threat of communism, Lyons government denied entry to Czech communist writer Eggnog Chicks. During the Minimizes’ time, government summoned the editor and publisher of the Bankbooks Observer before the Bar of the House to defend a charge that they had breached parliamentary privilege by publishing an article alleging that a member of parliament was involved in an immigration racket. Both men ended up spending three months in Globulin Jail. During the sass, in Gorton government, Customs Excise Minister Don Chip removed ban on many novels and Playboy magazine. He also introduced R certificate for adult movies which were earlier banned. Debate on the same is still going on as there are many high profile cases going on. Utilitarianism The essential claim of utilitarianism is that the only reasonable measure of morality is the minimization of the collective happiness of society as a whole. From this it follows that all other goods, if any, have only contributory, as opposed to inherent value. From the utilitarian viewpoint, freedom of speech can therefore be a thing only n terms of its instrumental value. We should look at marketplace of ideas theory usually associated with John Stuart Mill from this perspective. As generally implicit, this theory says that freedom of speech should be secured because it increases the realization of truth. Freedom of speech in this view, is thus contributory for capitalize on the amount of truth available to society as a whole. Such a marketplace is particularly unlikely in today’s world, in which varied educational disciplines have become so methodological that most people have only a rare idea of what is going on n them. Mill’s argument that the marketplace of ideas pointed towards the truth should be understood to worry not truths or reason but metaphysical ideas to which the idea of â€Å"truth† does not apply. Demonology There are two basic types of moral theories: consequentiality theories and deontological theories. Consequentiality moral theories are those which hold that the correctness of a deed is determined exclusively by the grade to which it produces good consequences. Utilitarianism is a consequentiality theory which holds that the utmost deeds are those which create the highest amount of pleasure or happiness for the maximum number of people. It is the ethical theory underlying contemporary cost-benefit and risk-benefit analysis, according to which we are focused to pick the deed with the maximum favorable ratio of cost or risks to benefits. Deontological theories, the most important alternative to consequentiality, hold that the correctness of a deed rest on upon aspects other than the consequences of the deed. These include such things as whether the purposes with which the deed is done ere upright, whether the deed is Just, whether it esteems the rights of those affected by it, whether the deed is steady with the burdens of duty, and whether, whatever its consequences, something in the nature of the deed makes it inherently incorrect. Social contract Character based ACS Legal/ethical balance How to cite PD Ethics, Papers

Military Equipment free essay sample

Why it is Important to maintain Accountability of Government Property Keeping accountability of your sensitive items is extremely important. Losing any piece of military equipment is a sever mistake that should never be made. Some things are a lot more important than others and need to be kept secure at all times. Losing a sensitive item can cause problems for a lot of people; the soldier who lost it, that soldiers team leader, squad leader, and the unit in as whole. It also puts the security of the post in danger and causes a threat.The soldier that lost the sensitive item depending on the item will have possibly made himself mission incapable. Also he could be putting himself at risk of United Sates Code of Military Justice action and possibly being discharged from the United States Army with a less than honorable discharge or a dishonorable discharge. A dishonorable discharge from the United States Army would pretty much ruin any chance a soldier has of getting a well paid job after his time in service. We will write a custom essay sample on Military Equipment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If a soldier loses any type of sensitive item and the item is not found or reclaimed then the soldier will be responsible for the paying the United States Army back for the lost equipment which can cost a whole lot of money. The soldier that lost the sensitive item’s team leader will be responsible for ensuring that the soldier knows what his mistake was and will ensure that his corrective training is assigned and completed in a timely manner.The team leader will also have to deal the fact that his soldier may now be mission incapable which will put the team leader’s team mission incapable. With a team out of operation in a squad it will put a strain on the rest of the teams and cause the platoon to be less than one hundred percent prepared for any situation that may arise. A squad leader that is in charge of the soldier who lost the sensitive item will now have to deal with all the problems that may arise from the situation. If a soldier was

Bell-South HR benefits essays

Bell-South HR benefits essays Looking for a challenging career and a great place to grow? BellSouth can provide you both. As a leader in the fast-changing telecommunications industry, BellSouth offers you a range of career and growth possibilities. Here's what makes BellSouth a great place to work: A dynamic professional environment where you can put your creativity, enthusiasm and team spirit into action. A nationally recognized benefits program Training/education opportunities for your future A diverse culture based on integrity If this sounds like what your looking for, take a look at the links below to learn more about BellSouth and your opportunities for career growth. Professional Growths and Development BellSouth provides professional growth and development opportunities that few companies can match. Whether you're interested in developing the skills of your craft, learning new technology or honing your leadership style, our BellSouth University team will take you there. We have four learning institutes designed to meet the needs of employees in customer care, sales and marketing, network services and leadership roles. If you join BellSouth, you have our commitment that we will equip you with the training you need for your first day on the job, as well as for your future, if you choose to pursue an exciting career with our company. Chances are that you won't stay with one company for your whole career. But, BellSouth wants you to know - you could - and not be bored. Promotions from within, and the variety of job tracks we have, make opportunities limitless. It's a great place to build a career. BellSouth has a Tuition Aid Plan that's right for you. Whether you're considering going back to school for a technical degree, bachelor's or master's degree, or even a doctorate, BellSouth can get you there. Our Customers: We are driven by the needs of our customers. We understand our customers' needs and ...

Why Astrology Lost Its Place in the Academic World

Why Astrology Lost Its Place in the Academic World Hashtag: #Signos (Portuguese for â€Å"Signs†) Through most of its history, astrology, a study of zodiac signs and its influence on our growth, personalities, and daily lives was highly regarded as â€Å"science†, a discipline that is closely associated with astronomy and mathematics.   A scholarly tradition, astrology was then accepted in political and academic contexts and a valuable system for a predicting astronomical event in many cultures throughout the centuries.   For instance, since the Arabs during the 10th century believed that the motions of celestial bodies affect life on earth and future events can be predicted by studying their movements, they were advanced in these areas and made significant contributions to the science of astronomy. Wearing the Trappings of Science Astrology was popular and continued to flourish during the 11th century. The Egyptians, Greeks, and Romans were also active in this field and built exceptional observatories to improve observation and understanding of celestial bodies. Sophisticated astronomical instruments such as the â€Å"astrolabe† (left image) were developed to enhance observation of the sky, calculation of latitudes, time and motion of the sun, stars, and the signs of the zodiac, and boost the accuracy of astrologer’s prediction. However, the legitimacy of the study that is now recognized as â€Å"pseudoscience† or a belief system that is â€Å"incorrectly presented as scientific†, was called into question by 17th-century scientific concepts and astronomical models.   In particular, the heliocentric model of the solar system where the Earth and other planets revolve around the Sun, significantly affect the credibility of the traditional geocentric (Earth-centered solar system) chart where the position of the zodiacal signs and horoscope are based. Read more information here: Unacceptable Words in Academic World Academic and Intellectual Credentials Why the South Lost the Civil War Computer Science Thesis The Scientific Basis for Defining Seasons Zodiac Signs and Horoscope Are not Science According to literature, although astrology relies on a scientific tool and complex mathematics such as those used to measure planetary motion in astronomy, the study is not a reliable predictive tool as it does not adhere to any valid scientific method and cannot be accurately tested.   Moreover, since astrology fails to abide by the standards of evidence or characteristic of most legitimate science, it eventually lost its place in the academic world.   The scientific community also disowned astrology, as it cannot provide a precise explanation on how the positions of celestial objects could actually affect people and influence events on our planet. Astrology according to Karl Popper lacks falsifiability or refutability, the ability that separates science from non-science.   Contrary to Popper, Thomas Kuhn argued that the non-empirical process and concepts involved in astrology make it unscientific. This is because failed predictions and inability to explain why horoscope fails do not necessarily make them violators of scientific principles. In reality, since astrology is not amenable research (see Research Paper), most astrologers do not investigate and merely adhere to rules and guidelines for a field of study fraught with known limitations. Instead of correcting a failure and revising a flawed astrological hypothesis in a meaningful way, most astrologers explain away failures.   According to Kuhn, even if the stars actually influence human lives and the world around us, individuals who do not solve puzzles are not practitioners of science.   Similarly, due to the presence of numerous fallacious logic and poor reasoning in astrological literature, philosopher Edward James view astrology as an irrational field of study. For instance, most astrological writings in James analysis are not coherent, blatant, uncorroborated by evidence, reluctant to pursue arguments, no sense of a hierarchy of reasons and incapable of satisfying the demands of legitimate reasoning.

Sleep deprivation negatively affect driving performance and causes car Essay

Sleep deprivation negatively affect driving performance and causes car accidents - Essay Example The danger is even more compounded with the fact that people are often unaware of the fact that the failure to sleep increases the possibility and probability of accidents (Gregory, 2009) This paper seeks to address the importance of sleep, factors that cause sleep variations as well as the relation of this to work performance. Further, the paper illuminates on the relation of sleep build-up and sleep deprivation on accidents propensity, as well touching on the models and other conditions such as apnea in relation to work and injuries at the workplace. Sleep and Accidents Generally, accident that is caused as a result of sleep is regarded as accident caused by human error, and often times the impact of it is correlated to the task that was being carried out. Therefore, in an event where there is more speed in terms of performing the task, then the degree of injury is normally aggravated (Gregory, 2009). This therefore means that skiing are often more serious accidents than walking ac cidents. Accidents could even be more aggravated in areas where machines are many and work is machinated, in say Agricultural Industry, where there are a lot of different tasks and models and types of machines (Gregory, 2009). Broadly speaking, accidents causing injuries happen in the line of human interactions with the machines at the work place. Often times, these machines include cars, trucks, and others such as tractors among many others (Gregory, 2009). The manner in which a worker interacts with the machines is highly associated with his level of maturity, and accidents normally occur due to use of alcohol, use of other drugs such as caffeine or ‘build up of sleep debt which is the prime focus of this paper (Scott et al, 2006). One is then likely to ask the question: how can sleep deprivation cause accidents, and how is their impacts measured? The answer is that, while sleep and alcohol correlation is easy to measure, the former, accidents and sleep, has been largely dif ficult. The general agreement is however in the duration of sleep. Duration of sleep is sometimes as long as 6 weeks, and the risks is often analyzed within the confluence of the time of the day one sleeps and the amount therein. Further, it is also correlated to the amount of sleep one had the night before (Scott et al, 2006). Broad Factors that Impair Sleep and the effects Factors that impair sleep have been recognized as use of caffeine, talking radio, cold and other distracting activities. It is therefore often seen with students who stay awake at night having to dose during lectures. Another example worthy noting is the fact that Pilots stayed awake in the course of dogfights in World War II and fell asleep, thus crashed on their flight back to base (Gregory, 2009). Sleep Management and the Risks Involved Psychologists have identified two types of risks associated with sleep management. One is low performance or loss of it altogether when one falls asleep at the workplace. This often happens when the individual is â€Å"un-stimulated and bored even without sleep debt† (Gregory, 2009). The second one is observed in the decreased performance at the work place in

Anthropology Assignment Example | Topics and Well Written Essays - 500 words

Anthropology - Assignment Example Various regions have their own endangered species for which the crisis mainly applies, but in most general definitions, it is used to refer to the killing of the great apes and other primates (Jurmain 129). Possible solutions to this problem include increased conservation measures in the parks and wildlife reservations. Additionally, swoops could be made in hotspots and those arrested be given hefty fines and long sentences to deter the practice. Both humans and primates are social beings, and this means that they exist in social settings and not in solitary existence. This trait exists between the two groups, and though it’s for defense, it also aids in realizing a form of hierarchical structure. Additionally, both primates and humans consistently groom each other, as a form of social behavior that bonds them together (Jurmain 160). This is especially due to the similarity in forelimbs, which enable both humans and primates use their fingers for grooming purposes. Moreover, both primates and humans appreciate territoriality and any two given factions have to respect the territoriality of each other. What is more, both humans and primates have a sense of communication, which is a behavioral trait that assists in maintaining the social structure of the groups. Primates have culture, and this is as defined by their behavior that is noticeable from various ecological and evolutionary perspectives. Shreeve (1991) depicts the various similarities that can be drawn from the behavior of primates and humans, and in most cases, the evidence of a culture is easily noticeable since both have one evolutionary background. One stark representation of culture is the relatively advanced aspect of deception, which is a major survival tactic for primates. It is so well advanced that it is one of the most widely used mechanisms in the wild. The social nature of primates calls for the need for some culture, since there is bound to increased levels of

Half caste, Unrelated incidents, and Search for my tongue :: Comapre Three Poems

I will be discussing how the three poems "Halfe Caste", "Unrelated incidents", and "search for my tongue" do not use standard English. I will be exploring the poets motivation and discussing how the poets deviate from standard English. In the poem "Search for my tongue" the poet Sujata Bhatt uses the language Gujarat. Using an alternative language such as (Gujarat) has an effect in ways that it shows how Sujata Bhatt had went from speaking English to Gujarat and back to English. It has an effect showing how she has two tongues in her mouth, one the English tongue, and the other tongue being the foreign tongue. Sujata's English tongue is talking however overnight her Gujarat tongue has taken over in her dreams. Then in the morning her English tongue comes back like a flower growing, "the bud opens, the bud opens in my mouth, it pushes the other tongue aside. In the poem "Unrelated incidents" is a reporter from the BBC talking. From the way the words are spelt we can gather that the reporter is Scottish, "this is thi six a clock thi man said n thi reason a talk wia BBC accent iz coz yi widny wahnt mi ti talk about thi trooth". Also in this poem is hardly any standard English at all. It is effective in ways that we get ideas of what the character is like. We know how the reporter is feeling. He doesn't sound to happy "this is thi six a clock nyooz. belt up". Where as if it was said, "This is the six a clock news. Belt up", it would have no expression to the way the reporter is actually feeling and this is why it would be better not to have used standard English. In the poem "Halfe Caste" the poet John Agard is talking about how he only half person. He says he is Half white, and Half black. We would have no idea of how the character would behave or speak, half white or half black. Judging from the way he talks, "well in dat case england weather nearly always half caste in fact some o dem cloud half caste

Investment Analysis and Portfolio Management

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