Monday, December 30, 2019

Role Of Monetary Policy In Financial Crisis - Free Essay Example

Sample details Pages: 18 Words: 5332 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? 1. Introduction To begin with, it is noted that over the last year or so, financial institutions in the major economies have reported losses on a large scale. Some of these have become insolvent, or have had to be taken over or rescued by their governments. Don’t waste time! Our writers will create an original "Role Of Monetary Policy In Financial Crisis" essay for you Create order The 2008 Global Financial Crisis Credit Crisis has affected millions of Americans specifically and others around the World in general terms. Associated with all of that has been a massive swing in the appetite of the World financial markets for risk, and in their capacity to accept risk. Thus, the result has been a shift from an easily available credit to tight credit. This crisis which began in industrialized countries has shifted dramatically spread to emerging market and developing economies. Many wealthy investors or so have pulled their capital from countries, even those with small levels of perceived risk, and hence causing values of stocks and domestic currencies to plunge. Moreover, the crisis has now moved from containing the contagion to coping with the global recession and changing regulations to prevent a reoccurrence of such a problem. Some security and foreign policy effects of the crisis also are beginning to appear. In addition, policy proposals to change specif ic regulations as well as the structure of regulation and supervision at both domestically and internationally levels have been coming forth through the legislative process. As one can bear in mind, In June 2009, the Obamas administration announced its plan for regulatory reform of the U.S. financial system. For example, in Congress, numerous bills have been introduced that deal with issues such as establishing a commission or selecting a committee to investigate causes of the financial crisis, provide oversight and greater accountability of the Federal Reserve and Treasury lending activity, acting towards the problems in the housing and mortgage markets, provide funding for the International Monetary Fund, address problems with consumer credit cards and establish a systemic risk monitor. Therefore, the transmission of the crisis from the U.S. and Europe to the rest of the world came through a number of channels. The financial institutions in most emerging market economies had not been involved in practices that are seen in the institutions that populate the financial centers in the major industrial countries. To that extent, financial institutions in the emerging economies either shied away from the more exotic instruments, including such things as credit default swaps and collateralized debt obligations, or were prevented by regulation from holding or trading such instruments. Banking had to come of the most à ¢Ã¢â€š ¬Ã…“boringà ¢Ã¢â€š ¬?, old fashioned ever! (The New York Times has reported on last September 2009 about the moves to replace the bust securitized mortgage market with a similar scheme dealing in life insurance policies, products that are as distasteful as they are foolhardy). The question is, can anything be done to ensure more responsible financial practice? If we are suppose to talk about the US economy, we would notice that President Barak Obama marked the anniversary of Lehman collapse with a plea to bankers to not get complace nt, telling them to get their house in order, or else face further regulation. We can indicate that over the past year, the financial male storm has battered the global information and communication technology industry, affecting profits and pushing down the industry in a manner reminiscent of the 2001 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 2002 dotcom busts. It is gradually finding its feet again, but it isnt out of the woods yet. The global financial tumult has forced a number of companies to reanalyze their cost benefit analysis, ensure efficiency and improve productivity. Companies in sectors such as telecom and finance have already realized the need of IT outsourcing as a solution in the changed market dynamics. Therefore, this research paper provides a review of how the financial crisis has affected many regions of the world, proposals for a regulatory change, indication about the role of Monetary Policy the level of Political Economics that have been intervening in the Financial Crisis. I t also identifies some basic challenges facing the globe suggests possible solutions for the Banking Field to overcome the crisis. 2. Literature Review The financial crisis was triggered by the bursting of a credit-fuelled bubble. Regulation and regulators did not cause this fatal bubble, but they did indirectly help it to grow by fostering the illusion of financial security. Many developing country economies are yet growing strongly, though the forecasts have been downgraded in the space of few a few months. What does the turmoil mean for such developing countries? And for how much longer can growth persist? What are the channels through which the crisis could spread to and how are the effects being felt and in what cases? What is the role for development policy and what do policy-makers need to know? Brooke Masters (2009) claimed: So far, most countries are avoiding a regulatory race to the bottom à ¢Ã¢â€š ¬Ã¢â‚¬Å" if anything, they are going the other way. The UK, for example, is pressing ahead with its own liquidity rules, while the Netherlands has pushed through curbs on bankersà ¢Ã¢â€š ¬Ã¢â€ž ¢ bonuses. Even Singapore, which has long been favored by financiers for its à ¢Ã¢â€š ¬Ã…“light-touchà ¢Ã¢â€š ¬? regulatory regime, considering tightening up its rules. However, Joshua Aizenman (2009) indicated that costly regulation can mitigate the probability of the crisis. We identify conditions where the regulation level supported by the majority is positive after the reform, but below the socially optimal level. A big portion of the financial crisis has had to do with under regulation and regulator duplicity with malefactors. If we look at the banking rules, we shall discover that allowing investment and commercial banks to merge, without a specification of a tighter capital rules, and hence, these new mega banks became overleveraged without examining their loans or the instruments that derived from the bad loans these banks made in the first place. In his writings about Liberalism Ludwig von Mises (1927) indicated that government intervention in markets would lead inevitably to unintended consequences that resulted in further government intervention. It is difficult to correct a problem when the cause of the problem is misunderstood. The presidential and vice-presidential candidates in the United States have all said that à ¢Ã¢â€š ¬Ã…“Wall Street greedà ¢Ã¢â€š ¬? has led to the financial mess we are in. On the very face of it, this does not seem likely. Even if greed leads to problems, is it possible that greed has suddenly become much greater than before? To raise an interest rate at some a time is a mistake and is likely to make a bad situation even worse. In many respects, central banks, including the Federal Reserve, have drawn heavily on important threads of monetary policy research in responding to the financial crisis. Lang Wang (2005) had explained with a binding capital requirement, the effects on bank lending supply depend on the size, the capital level, the balance sheet liquidity of banks and the capital distribution and market structure in t he banking sector. In a similar context, Thorbecke (1997) finds that expansive monetary policy tends to increase ex-post stock returns. He reported that small firms tend to be affected more severely by the change in monetary policy stance. In addition, Paul Krugman (1999) indicated But when a financial disaster struck Asia, the policies those countries followed in response were almost exactly the reverse of what the United States does in the fact of a slump. Currently the traditional monetary policy of the Federal Reserve is to focus on targeting the federal funds rate, now that this rate has approached the zero-bound; it has shifted to focus on other ways to lower the cost of credit in the marketplace. Federal Reserve programs have intended to offset disruptions to interbank lending short-term credit financing. Since the credit crunch is caused by conservative lending policies during periods of financial duress and reduced profitability, one may finds that monetary policy is somehow ineffective in alleviating the credit crunch. Instead loan regulation can erase it. George Macesich (1992) argued that the poor performance of monetary policy can be attributed historically to the ease with which money has so often been made a political issue. He stated that For Monetary Policy to be credible, and thus successful, the hands of the Monetary Policy- makers are better tied than left free. Sun Ruijun and Bao Erwen (2008) have reported The in-depth development of economic globalization has made economic ties and interdependence between countries even closer, boosting the sustained growth of world economy, and benefiting many countries. The global financial crisis is more than just an economic event: It puts pressure on the geopolitical system and is driving states to change their behavior. Taking a snap shot on the GCC states, one can clearly define how largely it has been insulated from the global credit crunch because they are the proud owners of some of the worlds largest oil deposits. Much of this has been caused by massive infrastructure and development projects such as Qatars liquefied natural gas facilities, Dubais fanciful real estate explosion and Bahrains attempts to convert itself into a financial Mecca. The economic system has an effect on the political outcomes. Well-functioning financial institutions, in turn, can increase the political support for anti-corruption measures. Kira Boerner Christa Hainz (2006) argued When banks possess a perfect screening technology that allows them to deny credit to those debtors who use the money for financing an entry fee, the corrupt officials will still borrow from their relatives. However, compared to the case without financial institutions, the interest of corrupt officials and relatives in corruption decreases: Both parties have the opportunity to save at a bank. In similar terms, Torsten Persson (2000) had explained Economic policy is the equilibrium outcome of a well defined no cooperative game under preemptive assumptions about economic political behavior. At all levels, the present financial crisis requires a co-ordinate response on a global scale. The real risk to the world economy is the temptation to revert to protectionism by each individual country in order to solve their own domestic problems. 3. Research Methodology In choosing the correct research method to be used in this research paper, the survey research method by Questionnaires will be the basic research design. Each respondent will be supplied with a questionnaire titled How banks can overcome the Global Financial Crisis? The questionnaire is estimated to take no longer than 6 minutes for each reached individual regardless of the age. A survey of 68 individuals located in many counties throughout the country will provide the database for this study. The sample was selected on a probability basis from as much decision maker playing role individuals as possible in Bahrain. The questionnaire took place in Bahrain the response from the respondents took almost one week. Questionnaires were distributed randomly depending on many aspects such as: age, gender, employment condition most important of all, the level of knowledge regarding the topic under study. This research paper sampling volume totaled 68, out of which, males represen ted 38 and the rest 30 were for females. The original sample was 70, in which the researchers found that 2 individuals were students below the age of 18 and were unemployed. That made a quiet confusing decision to remove the two from the total sample, since at that age and being unemployed is not a truly decision maker respondent. 4. Challenges As the world look beyond the economic crisis, what are the most urgent challenges that are needed to be addressed? Gaining a proper perspective on the crisis itself is a first challenge. In recent decades, it has been demonstrated that a market which operates responsibly offers a more secure life and a best hope to people who seek a better standards of living wherever in the world they may live. This is absolutely fundamental. While it is true that the direct causes of the crisis the combustible mixture of excess leverage in both consumer and financial markets, the bank failures, the credit collapse have led to some painful consequences, it would be folly to conclude that the foundations of market economics have been irreparably damaged. A second challenge facing the Global is how to deal intelligently with the huge fiscal challenges ahead. The response of central banks and governments to the economic crisis may very well have averted a global catastrophe. However, massive fiscal obligations have been assumed by governments and this might take many years to unwind. What is needed is for countries to create and develop smart à ¢Ã¢â€š ¬Ã…“exità ¢Ã¢â€š ¬? strategies. Furthermore, as the private sector returns to some growth, this requires a determined pullback in government expenditure. Not an easy task: as we all know, the politics of unwinding government programs can be daunting. Here political courage and good public policy go hand in hand. The third challenge needs an urgent attention. It is acknowledged that the global economy is out of balance and that this is one of the reasons for the financial crisis. Massive reliance on external demand carries with it real consequences as does the excessive reliance on foreign investors to finance consumption and deficits for long periods of time. As one could realize, such imbalances can cause serious and long-lasting economic damage. There is also the challenge, or opportunity, of what to do with a countrys immense foreign exchange reserves. A Chinese think tank has come up with an exciting idea: that the reserves could be put to good use through the development of a à ¢Ã¢â€š ¬Ã‹Å"Marshall Planà ¢Ã¢â€š ¬Ã¢â€ž ¢ for Africa, Asia and Latin America. Such a development fund, or loan facility, would increase living standards in the targeted countries. The fifth challenge is enormously complex challenge that deserves attention. Sometimes we feel that we have loaded so many expectations onto the climate change agenda that it cannot help but fail. You would think that tackling this issue will give us infinite new sources of cleaner energy, and allow for the transfer of substantial amounts of financial and technological support to emerging economies. On the global side, No existing architecture is found to be proficient in preventing global crises from erupting. Since financial crises occur even in relatively tightly regulated economies, the likelihood that a supranational infl uence could prevent an international crisis from occurring is questionable. The financial crisis has been characterized as a à ¢Ã¢â€š ¬Ã…“wake-up callà ¢Ã¢â€š ¬? for investors who had put their faith confidence in. For example, credit ratings placed on securities by credit rating agencies operating under what some have referred to as à ¢Ã¢â€š ¬Ã…“wicked incentives and conflicts of interest.à ¢Ã¢â€š ¬? Moving forward to a sixth challenge, the Council on Foreign Relations explained the problem in a report on systemic regulation, as follows: One regulatory organization in each country should be responsible for overseeing the health and stability of the overall financial system. The role of the systemic regulator should include gathering, analyzing, and reporting information about significant interactions between and risks among financial institutions; designing and implementing systemically sensitive regulations, including capital requirements; and coordinating with the fiscal authorities and other government agencies in managing systemic crises. We argue that the central bank should be charged with this important new responsibility. Centers of financial activity such as New York, London, and Tokyo, race with each other and multinational firms can determine where to carry out particular financial transactions. This is to be addresses as one of the considerations in policy making. A seventh challenge is that a large financial institution that may be defined as large to fail represents the heavy arm that the world economy depends greatly on. If an institution is considered to be à ¢Ã¢â€š ¬Ã…“unsuccessful too big to fail,à ¢Ã¢â€š ¬? its bankruptcy would cause a major risk collapse to the system as a whole. Yet, if there is an implicit promise of governmental support in case of failure, the government may create a moral hazard, which is the motivation for an entity to be engaged in somewhat risky behavior, knowing that the government wil l rescue it if it fails. A further challenge is that the nature and size of accumulating financial and systemic risks have not been well identified by the existing micro regulation. It even didnt impose appropriate remedial actions. Even though some analysts and institutions were sounding alarms before the crisis erupted, there were hardly any regulatory tools available to handle with the increase of risk in the system as a whole or the risks being forced by other firms either in the same or different sectors. It seemed to be an insufficient response to some of these risks either by the authorities responsible for the mistake of individual financial institutions or specific market segments. A last fundamental challenge deals with the nature of regulation and supervision. Banking regulation tends to be specific and detailed and places requirements and limits on bank behavior. Federal securities regulation, however, is based primarily on disclosure. Registration with the Securit ies and Exchange Commission is required, but that registration does not imply that an investment is safe or secured, only that the risks have been fully disclosed! 5. Analysis Discussion When the U.S financial System falls down, it may bring major parts of the rest of the world down with it. The global financial crisis has opened the World eye on an important point: that the United States is still a major center of the financial world. Hence, Regional financial crises (such as the Asian financial crisis, Japanà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking crisis or even the current Dubais Credit Crisis) can occur without seriously infecting the rest of the global financial system as does the United States economy. The reason behind, is that the United States is the main guarantor of the international financial system, the provider of dollars widely used as currency reserves and as an international intermediate for exchange, besides being a contributor to much of the financial capital that around the world seeking higher yields. The rest of the world may not appreciate it, but a financial crisis in the United States often takes on a global hue. To analyze the questionnaire, the researchers have used the SPSS program and the regression analysis in order to define some relationships that best help identify the problem under study. The descriptive statistical analyses questionnaire will be used, including calculations of sampling error, and statistical adjustments for unequal selection probabilities. Cross-classification analyses with demo-graphic, ANOVA, linear regression and T-Test is much more applied in order to explain some judgments. Since the researchers think that the gender is one of the independent variables that could test many hypothesis, three hypothesis were applied based on the dependant variable: First Hypothesis: There is no relationship between gender and understanding what is going on in the current financial news. Second Hypothesis: There is no relationship between gender and being informed about the à ¢Ã¢â€š ¬Ã…“Global Financial Crisisà ¢Ã¢â€š ¬?. Third Hypothesis: There is no relationship between gender and the deci sion that thinks of governments around the world should take in the financial sector towards their economies. The table below, represents the Statistical Data Analysis of the designed questionnaire: Table 1: SPSS Statistics for all questionnaire questions One-Sample Test  Question No.  Test Value = 0 Test Value = 0 N t df Sig. (2-tailed) Mean Difference 95% Confidence Interval of the Difference t df Sig. (2-tailed) Mean Difference 95% Confidence Interval of the Difference  Lower Upper Lower Upper Question_1 68 23.758 67 0 1.441 1.32 1.56 23.758 67 0 1.441 1.32 1.56 Question_2 68 17.636 67 0 4.206 3.73 4.68 17.636 67 0 4.206 3.73 4.68 Question_3 68 21.715 67 0 1.706 1.55 1.86 21.715 67 0 1.706 1.55 1.86 Question_4 68 22.401 67 0 3.868 3.52 4.21 22.401 67 0 3.868 3.52 4.21 Question_5 68 13.683 67 0 2.074 1.77 2.38 13.683 67 0 2.074 1.77 2.38 Question_6 68 8.596 67 0 2.029 1.56 2.5 8.596 67 0 2.029 1.56 2.5 Question_7 68 10.618 67 0 3.5 2.84 4.16 10.618 67 0 3.5 2.84 4.16 Question_8 68 17.868 67 0 2.191 1.95 2.44 17.868 67 0 2.191 1.95 2.44 Question_9 68 23.953 67 0 2.676 2.45 2.9 23.953 67 0 2.676 2.45 2.9 Question_10 68 15.557 67 0 5.059 4.41 5.71 15.557 67 0 5.059 4.41 5.71 Question_11_1 68 14.691 67 0 3.529 3.05 4.01 14.691 67 0 3.529 3.05 4.01 Question_11_2 68 18.302 67 0 4.809 4.28 5.33 18.302 67 0 4.809 4.28 5.33 Question_11_3 68 21.056 67 0 5.029 4.55 5.51 21.056 67 0 5.029 4.55 5.51 Question_11_4 68 17.835 67 0 4.426 3.93 4.92 17.835 67 0 4.426 3.93 4.92 Question_11_5 68 20.978 67 0 4.897 4.43 5.36 20.978 67 0 4.897 4.43 5.36 Question_12 68 16.241 67 0 2.735 2.4 3.07 16.241 67 0 2.735 2.4 3.07 Question_13 68 14.707 67 0 2.676 2.31 3.04 14.707 67 0 2.676 2.31 3.04 Question_14 68 26.329 67 0 2.765 2.56 2.97 26.329 67 0 2.765 2.56 2.97 Anova Model Sum of Squares df Mean Square F Sig. 1 Regression 4.074 1 4.074 4.173 .045a Residual 64.440 66 .976   Total 68.515 67    a. Predictors: (Constant), Question_1    b. Dependent Variable: Question_8    Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 1.481 .368  4.025 .000 Question_1 .493 .241 .244 2.043 .045 a. Dependent Variable: Question_8    Table 2: Anova statistics coefficients relationship Q1 Q8 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Hypothesis. From the Questionnaire, we have selected the relationship among the following questions. However, Gender will always be constant. Question (1): Please indicate your gender: Male Female Question (8): In general, how knowledgeable do you consider yourself to be when it comes to understanding what is going on in the current financial news? I know enough to be able to explain whatà ¢Ã¢â€š ¬Ã¢â€ž ¢s happening in the financial industry to other people. I understand enough to make sense of the detail behind the financial news stories. I just follow the headlines but my understanding of financial news is fairly vague. I donà ¢Ã¢â€š ¬Ã¢â€ž ¢t really understand whatà ¢Ã¢â€š ¬Ã¢â€ž ¢s going on in the financial news. Question_8: On the One-Sample Test it is showed that the Significance is = 0.00 which is less than 0.05, so we reject any initial premise that the average Question_8 is not equal to 0. Since the answer to this question fell where the value of t = 17.868, positive, meaning that people have a significant understanding and knowledge about the current financial news. About 35.3 % of the answers to question 8 went in to that both, males females find themselves having enough understanding to make sense of the detail behind the financial news stories. On lower confidence levels, 29.4% find themselves confident enough to answer bitterly regarding the financial crisis. Question (9): How informed are you about the à ¢Ã¢â€š ¬Ã…“Global Financial Crisisà ¢Ã¢â€š ¬? that is said to be impacting the U.S. economy the rest of the Globe? Very informedà ¢Ã¢â€š ¬Ã¢â‚¬ I have actively sought additional information on this story. Somewhat informedà ¢Ã¢â€š ¬Ã¢â‚¬ I know a bit about it, but wouldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t be able to hold my own in a conversation about it. Informedà ¢Ã¢â€š ¬Ã¢â‚¬ Ià ¢Ã¢â€š ¬Ã¢â€ž ¢ve read/seen stories about it when Ià ¢Ã¢â€š ¬Ã¢â€ž ¢ve come across them in the news. Not informed at allà ¢Ã ¢â€š ¬Ã¢â‚¬ I donà ¢Ã¢â€š ¬Ã¢â€ž ¢t know anything about this story. Question_9: The mean for this particular sample is 2.68, which is statistically significantly different from the test value of Zero.  34 out of 68 sample volume representing almost 50% who have been really informed to have read/seen stories about the global financial crisis when coming across it in the news. The researchers find that the relationship between gender and being informed about the à ¢Ã¢â€š ¬Ã…“Global Financial Crisisà ¢Ã¢â€š ¬? is positive with (.493) and based on the t-value of (2.043) and p-value of (0.045), this relationship is statistically significant.   Hence, there is a statistically significant positive linear relationship between people gender being informed and know ledged enough about the crisis. Question (13): What role, if any, do you think that governments around the world should take in the financial sector towards their economies? Hands onà ¢Ã¢â€š ¬Ã¢â ‚¬ the government should intervene whenever the financial sector is at risk. Intermediaryà ¢Ã¢â€š ¬Ã¢â‚¬ the government should act as an intermediary between concerned parties. Laissez Faireà ¢Ã¢â€š ¬Ã¢â‚¬ the government should not interfere with economic affairs beyond the minimum. Completely hands offà ¢Ã¢â€š ¬Ã¢â‚¬ the government should let Wall Street solve its problems on its own. Case by caseà ¢Ã¢â€š ¬Ã¢â‚¬ the government should take a case-by-case approach. ANOVAb Model Sum of Squares df Mean Square F Sig. 1 Regression 14.714 1 14.714 7.132 .010a Residual 136.168 66 2.063   Total 150.882 67    a. Predictors: (Constant), Question_1    b. Dependent Variable: Question_13    Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 1.326 .535  2.480 .016 Question_1 .937 .351 .312 2.671 .010 a. Dependent Variable: Question_13    Table 3: Anova statistics coefficients relationship Q1 Q13 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Hypothesis. The relationship between gender and the choice to think of the role that governments around the world should take in the financial sector towards their economies is positive (.937). Based on the t-value (2.671) and p-value (0.010), it is to be clarified that this relationship is statistically significant.   Hence, there is a statistically significant positive linear relationship. Most of the questionnaires answer to question 13 went to choose that the role of government can be best suggested as to: Hands onà ¢Ã¢â€š ¬Ã¢â‚¬ the government should intervene whenever the financial sector is at risk. Question (4) Which of the following best describes the highest level of education you have attained? Some high school High school graduate Some college College graduate Some post graduate studies Post graduate degree Question (13): What role, if any, do you think that governments around the world should take in the financial sector towards their economies? 1 Hands onà ¢Ã¢â€š ¬Ã¢â‚¬ The government should intervene whenever the financial sector is at risk.    3 1 7 1 8 2 Intermediaryà ¢Ã¢â€š ¬Ã¢â‚¬ The government should act as an intermediary between concerned parties.    2 7 3 1 2 3 Laissez Faireà ¢Ã¢â€š ¬Ã¢â‚¬ The government should not interfere with economic affairs beyond the minimum.    3 7 4 - 1 4 Completely hands offà ¢Ã¢â€š ¬Ã¢â‚¬ The government should let Wall Street solve its problems on its own.    1    2    - 5 Case by caseà ¢Ã¢â€š ¬Ã¢â‚¬ The government should take a case-by-case approach. 1 2 3 4    5 Table 4: Cross Checking Analysis between Q4 Q13. To provide a better understanding of a cross classification, the table below indicates that, most of people holding a college degree, agreed with the choice that governments should intervene whenever the financial sector is at risk and in need for its support. Therefore, we see that the Global Financial Crisis can be broken down into major phases. Although each phase has a policy focus, it seemed that until the crisis has passed, no phase is directly having a clear ending point. The following three phases represent the most important phases related to our previous Literature Review: 1. Financial Markets Regulation As a coordination term of reforms in national regulatory systems, meetings have been made by many world leaders, to decide what changes may be needed in the financial system to address some issues by the United States and other nations center on à ¢Ã¢â€š ¬Ã…“fixing the systemà ¢Ã¢â€š ¬? as a way of preventing future crises from occurring. Much of this involves the technicalities of regulation and oversight of financial markets, derivatives, and hedging activity, as well as standards for capital adequacy. 2. Staying with Macroeconomic Effects Since the financial crisis has been spread to real sectors to negatively affect whole economies; many countries, particularly those with emerging and developing markets, have been pulled down by the ever widening flight of capital from their economies and by falling exports and commodity prices. In such cases of recessionary economic conditions, rising unemployment, governments have turned to traditional monetary and fiscal policies. 3. Security, Political Social Effects On February 12, 2009, the U.S. Director of National Intelligence, Dennis Blair, said: instability in countries around the world caused by the global economic crisis and its geopolitical implications, rather than terrorism, is the primary near-term security threat to the United States. These effects can be found in terms of political leadership inside the countries, protectionism, state capitalism effects of poverty flows of aid resources. We have always believed that we should have lofty aspirations and continually challenge ourselves to do better. But in the politically charged and confusing debate around climate change, it is easy to forget fundamental realities. For example, that climate change affects every human on earth and therefore we must find new ways for all nations to contribute, according to their pointed strengths and capabilities. Possible Policy Responses: Much better understanding of appropriate policy responses is required by the current macro economic and social challenges: à ¢Ã¢â€š ¬Ã‚ ¢ There must be a better understanding of what can provide financial stability, how cross-border cooperation can help to provide the public good of international financial rules and systems, and what the most appropriate rules are with respect to development. à ¢Ã¢â€š ¬Ã‚ ¢ Rationalize thinking of whether and how developing countries can minimize financial contagion. à ¢Ã¢â€š ¬Ã‚ ¢ The implications of the current economic slowdown is in need to be managed by developing countries after a period of strong and continued growth. 6. Suggested Solutions to overcome the Credit Crisis So what should we do? By simple means, Americans in particular are going to have to save more of their income and consume less, and Asian economies will have to encourage for a greater domestic demand. In both cases, this is far easier said than done in reality. There is no magic set of policy prescriptions to prompt individuals to change their routine lifestyle so as to considerably enhance savings and consumption. First, for the globe (banking sector) with recovery, there must be a credible exit strategy put in place by the federal government. This is made in order to achieve balanced budgets over an economic cycle. However, this goal will be unattainable unless some of healthcare costs are controlled, consumption taxes are raised to a certain level, public security reforms are implemented, and the role of à ¢Ã¢â€š ¬Ã…“pay as you goà ¢Ã¢â€š ¬? spending is embraced. In the case of the Asian economies, and especially China, the shift towards stretched consumption should spot light on strengthened pension schemes and increased government spending on healthcare, education accommodations. Second, the whole nations generally the banking field specifically will have to come to terms with the issue of exchange rate flexibility. With the global recovery, Chinaà ¢Ã¢â€š ¬Ã¢â€ž ¢s exports for example are growing once again and more capital is flowing back into the country, raising expectations for currency appreciation. The alternative is future price inflation in certain asset classes. Chinese central bank Vice Governor Ma Delun recently highlighted the risk that asset bubbles could begin to build within China as the economy roars back to life. There needs to be an outlet and that outlet should be to allow the currency to appreciate. For the role of business going forward, as a third suggested solution, is that we must encourage our political leaders to work harder to create an international environmental change plan that is fair, effective, reasonable and sustainable. In each of our countries we can do more to advance policy that integrates economic expansion, energy and the environment. We must push our governments to adopt and accept policies that incent new technologies rather than encouraging them to hide behind false hope of weakened intellectual property rights or bubbling protectionism. A forth issue to overcome the crisis is that businesses themselves, throughout the world, have to step up to the plate. Even in challenging times, we need to greatly enhance our investment in research and development and commercialization of lower carbon energy, products and services. Direct business-to-business engagement is needed to be built as well as foreign investment and technology partnerships. For example, whats happening in China currently is that such partnerships create innovative capacity in both the developers and the adopters of new technologies. Though it might seem a little bit strange, a fifth solution is that we are to build a flourishing and peaceful world. Success will require a degree of cooperation among countries and peoples extraordinary in our lifetimes. The global economic crisis has been defined as a powerful mechanism and, in one respect at least, it has been beneficial. In shaking our confidence and our institutions, it has forced us all to think about how we can create a better world. This definitely is a crisis that must not be wasted! In recent public debate, some have argued that the task of building such a harmony should fall primarily on China and the United States the so-called G2. This would be viewed as dealing with a host of political, economic and security issues. In terms of interest, the welfare of China, the United States and the Globe as a whole would be better served in a multi polar world guided by efficient multilateral institutions. To some extent, we may hear the views of diverse business influential from around the world on what it takes to aspire to the f ront ranks of municipal urban accomplishment and superiority. In our view, à ¢Ã¢â€š ¬Ã…“value quality of livingà ¢Ã¢â€š ¬? should be the final determinant of rank. 7. Conclusion In the face of sliding world demand, efforts to raise domestic productivity and Competitiveness become critical factors for protecting export market shares. Not everyone is convinced of the qualities of globalization, especially if it was in difficult economic times. Looking around the world, the benefits of rapid globalization are not equitably shared. In the Worlds largest economies output has stopped shrinking financial markets are beginning to soften and confidence is re-emerging. It is inspiring; however, we cannot ignore that in most parts of the world unemployment is still on the rise, business continues to face hard-hitting conditions, a large amount of global manufacturing capacity remain creep, governments are saddle many financial institutions are still unstable. The scope for increasing the competitiveness of the South Asian economies is large and includes policies to improve the availability of infrastructure, lower the transaction cost of private investment th rough better governance, and reduce restrictions on trade and investment. Finally, in an environment of constrained resources, greater attention to improving Implementation capacity and corruption prevention in public spending becomes even more important.

Sunday, December 22, 2019

Classical Chinese Garden Of Suzhou And Japanese Dry...

The Interpretation of Nature in Classical Chinese Garden of Suzhou and Japanese Dry Landscape Garden of Ryoan-ji Luis Barragà ¡n, the influential Mexican minimalist architect and Pritzker Prize winner once said that, â€Å"In the creation of a garden, the architect invites the partnership of the Kingdom of Nature. In a beautiful garden the majesty of nature is ever present, but it is nature reduced to human proportions and thus transformed into the most efficient haven against the aggressiveness of contemporary life.† Such design principle, with a strong emphasis on the unity of man and nature as a way to build freedom and independence in the natural environment of gardens away from the unrest social political atmosphere, has not only been seen in Western minimalist architecture, but also has been extensively utilized in Classical Asian architecture. Classical Chinese Garden of Suzhou and Japanese Dry Landscape Garden are two typical examples that demonstrate such harmonious coexistence between artificiality and nature. Thus, with a focus on a comparison between the selected examples of Humble Administrator’s Garden of Suzhou (see fig. 1) and Ryoan-ji Dry Landscape Garden (see fig. 2), this essay aims to analyze the design techniques of the two gardens and how they respond to their social political and religious environments by conveying different interpretations of nature. Garden of the Humble Administrator, which consists of numerous pavilions and bridges set among a maze of

Saturday, December 14, 2019

Lokpal Bill Free Essays

KONERU LAKSHMAIAH UNIVERSITY SEMINAR PRESENTION TOPIC: LOKPAL BILL SUBMITTED TO: SUBMITTED BY: Dr. V. SARADA B. We will write a custom essay sample on Lokpal Bill or any similar topic only for you Order Now SEKHAR BABU M. C. A [2ND YEAR] Lokpal Bill is not a new word for Indian people. It is frequently used against corruption. Anna Hazare creates a new history for the demand of Jan Lokpal Bill in the year of 2011. There is a discussion about a struggling history of Jan Lokpal Bill and important of Lokpal Bill in India in the context of corruption. What is Jan Lokpal Bill? Jan Lokpal Bill is a proposed anti-corruption law drowns up by prominent civil society activists to deter corruption effectively. Word of Jan Lokpal Bill derives from Lokpal which means ombudsman (Legal Representative) in India. Lokpal word has been derived from the Sanskrit words â€Å"loka† (people) and â€Å"pala† (protector/caretaker). So Lokpal is meant as the ‘protector of people’. Jan Lokpal Bill is referred as citizens’ ombudsman bill also in India. Ombudsman would create the law called the Lokpal Bill. It would be an independent body similar to the Election Commission of India. The Lokpal will have a three-member body with a chairperson. The chairperson will be a chief justice or Supreme Court judge. Other two members will be high courts judges or chief justices. Importance of Jan Lokpal Bill: It is being expected that Lokpal bill will reduce corruption in India. The Jan Lokpal bill provides powers to of filing complaints of corruption against the prime minister, other ministers and members of parliament with the ombudsman. The Lokpal Bill gives us a right, except for a public servant, to file a complaint and the Lokpal has to complete the inquiry within six months. History of Lokpal Bill: There is a struggle for Lokpal Bill of last 42 years. First time, the bill was presented during the fourth Lok Sabha in 1968. It was passed there in 1969. Lokpal Bill was revived in 1971, 1977, 1985, 1989, 1996, 1998, 2001, 2005 and 2008. In 2010, Lokpal Bill, awaits an okay from a select committee. According to former chief justice of Delhi high court and rights activist Rajinder Sachar, Lokpal Bill is â€Å"shamefully toothless and meant to give a false reassurance to the people that the government is serious in its fight against corruption†. But former chief justice of India M N Venkatachelliah said that the PM must be out of its purview. Statement of M N Venkatachelliah was supported by Rahul Gandhi also. Role of Anna Hazare in Jan Lokpal Bill: Who is Anna Hazare? Kisan Bapat Baburao Hazare or Anna Hazare, is a social activist and a social worker. He used to work as a driver in the Indian Army and has been greatly influenced by Swami Vivekanada, Ghandiji and Acharya Vinobha Bhave. He is especially recognized for his contribution to the development of Ralegan Siddhi, a village in Ahmednagar district, Maharashtra. After voluntary retirement from the army, Hazare came to Ralegan Siddhi  village in 1975. Initially, he led a movement to eradicate alcoholism from the village. Next, he motivated the residents of the village intoshramdan (voluntary labour) to build canals, small-scale check-dams and percolation tanks in the nearby hills for watershed development; efforts that solved the problem of scarcity of water in the village that also made irrigation possible. He helped farmers of more than 70 villages in drought-prone region in the state of Maharashtra since 1975. He also motivated the residents of the village to build a secondary school in the village through voluntary labour. Lokpal Bill movement In 2011, Anna Hazare led a movement for passing a stronger anti-corruption Lokpal (ombudsman) bill in the Indian Parliament. As a part of this movement, N. Santosh Hegde, a former justice of the Supreme Court of India and Lokayukta of Karnataka, Prashant Bhushan, a senior lawyer in the Supreme Court along with the members of the India Against Corruption movement drafted an alternate bill, named as the Jan Lokpal Bill (People’s Ombudsman Bill) with more stringent provisions and wider power to the  Lokpal  (Ombudsman). Hazare has started a fast up to death from 5 April 2011 at Jantar Mantar in Delhi, to press for the demand to form a joint committee of the representatives of the Government and the civil society to draft a new bill with more stronger penal actions and more independenceto the  Lokpal  and  Lokayuktas (Ombudsmen in the states), after his demand was rejected by the Prime Minister of India Manmohan Singh. The movement attracted attention very quickly through various media. It has been reported that thousands of people joined to support Hazare’s effort. Almost 150 people are reported to join Hazare in his fast. He said that he   Ã‚  would not allow any politician to sit with him in this movement. Many social activists including Medha Patkar,Arvind Kejriwal and former IPS officer Kiran Bedi have lent their support to Hazare’s hunger strike and anti-corruption campaign. This movement has also been joined by many people providing their support in Internet social media such as twitter and facebook. In addition to spiritual leaders Swami Ramdev,Swami Agnivesh and former Indian cricketer Kapil Dev,   many bollywood celebrities like Shekhar Kapur, Siddharth Narayan, Anupam Kher, Madhur Bhandarkar, Pritish Nandy, Priyanka Chopra, Prakash Raj,Aamir Khan, Chetan Bhagat showed their public support through twitter. As an outcome of this movement, on 6 April, 2011 Sharad Pawar resigned from the  group of ministers  formed for reviewing the draft Lokpal bill 2010. Anna Hazare started his â€Å"Fast until Death† at Jantar Mantar, New Delhi, stating â€Å"I will fast until Jan Lokpal Bill is passed† The movement gathered quite a significant amount of support from India’s youth visible through the local support and on social networking sites like Facebook and Twitter. Differences between Government’s Lokpal and Jan Lokpal Bill: Lokpal Bill: -Government will not have any power: -To initiate action suo motu in any case -To receive complaints of corruption from public -To register an FIR -Police powers To investigate any case against PM in foreign affairs, security and defence -To jurisdiction over bureaucrats and government officers Jan Lokpal Bill 2011: -The Jan Lokpal Bill will have power: -To initiate investigations suo motu in any case -To complaints from the public -To initiate prosecution after completion of investigations -Police powers -To register FIR, proceed with criminal investigations and launch prosecution -To jurisdiction over politicians, officials and even judges -To merge the entire vigilance machinery into Lokpal Recent Updates about Jan Lokpal Bill: Once again, Anna Hazare has announced to fast unto death at Jantar Mantar from August 16 if the government doesn’t pass the Jan Lokpal Bill. It will be the second battle of independence for him. He suggests his followers to opt the path of non-violence. About Jan Lokpal Bill: The Jan Lokpal Bill 2011 is a draft anti-corruption bill. The bill is drafted by Justice Santosh Hegde (former Supreme Court Judge and present Lokayukta of Karnataka), Prashant Bhushan (Supreme Court Lawyer) and Arvind Kejriwal (RTI activist). The draft Bill predicts a system where a corrupt person would go to jail within two years if he found guilty. It seeks power to prosecute politicians and bureaucrats without government permission. Features of Jan Lokpal Bill: 1. An institution called LOKPAL at the centre and LOKAYUKTA in each state will be set up 2. Like Supreme Court and Election Commission, they will be completely independent of the governments. No minister or bureaucrat will be able to influence their investigations. 3. Cases against corrupt people will not linger on for years anymore: Investigations in any case will have to be completed in one year. Trial should be completed in next one year so that the corrupt politician, officer or judge is sent to jail within two years. 4. The loss that a corrupt person caused to the government will be recovered at the time of conviction. 5. How will it help a common citizen: If any work of any citizen is not done in prescribed time in any government office, Lokpal will impose financial penalty on guilty officers, which will be given as compensation to the complainant. . So, you could approach Lokpal if your ration card or passport or voter card is not being made or if police is not registering your case or any other work is not being done in prescribed time. Lokpal will have to get it done in a month’s time. You could also report any case of corruption to Lokpal like ration being siphoned off, poor quality roads been constructed or panchayat funds being siphoned off. Lokpal will have to complete its investigations in a year, trial will be over in next one year and the guilty will go to jail within two years. 7. But won’t the government appoint corrupt and weak people as Lokpal members? That won’t be possible because its members will be selected by judges, citizens and constitutional authorities and not by politicians, through a completely transparent and participatory process. 8. What if some officer in Lokpal becomes corrupt? The entire functioning of Lokpal/ Lokayukta will be completely transparent. Any complaint against any officer of Lokpal shall be investigated and the officer dismissed within two months. 9. What will happen to existing anti-corruption agencies? CVC, departmental vigilance and anti-corruption branch of CBI will be merged into Lokpal. Lokpal will have complete powers and machinery to independently investigate and prosecute any officer, judge or politician. 10. It will be the duty of the Lokpal to provide protection to those who are being victimized for raising their voice against corruption. To summarise, we can say, it will give more power to RTI act, corruption will be tackled and dealt with quickly, whistle blowers will (most likely) also get some protection for raising their voice against corruption. What is the need of Lokpal Bill in our society? Do you think Lokpal Bill is really needed in our society to make an ideal state? Government has already CVC, departmental vigilance and anti-corruption branch of CBI to stop corruption. What would be moral line of Lokpal Bill? Why a person will not be corrupt where money is everything? How an anti-corrupt society or state will fulfill the basic needs of people? Can a capitalist state be anti-corrupt which motive is nothing but profit? How a profit oriented society can serve basic need of people? How the difference between rich and poor will be filled? Government has already exposed the power of ‘STATE’ demolishing strike of Ram Dev Baba at Ramlila Maidan, New Delhi. We have seen the monopoly of Indian government in union budget 2011 also. In this context, people should think about the future of Lokpal Bill. Jan Lokpal Bill will improve existing anti-corruption systems. Existing System| System Proposed by civil society| No politician or senior officer ever goes to jail despite huge evidence  because Anti Corruption Branch (ACB) and CBI directly come under the government. Before starting investigation or initiating prosecution in any case, they have to take permission from the same bosses, against whom the case has to be investigated. | Lokpal at centre and Lokayukta at state level will be independent bodies. ACB and CBI will be merged into these bodies. They will have power to initiate investigations and prosecution against any officer or politician without needing anyone’s permission. Investigation should be completed within 1 year and trial to get over in next 1 year. Within two years, the corrupt should go to jail. No corrupt officer is dismissed from the jobbecause Central Vigilance Commission, which is supposed to dismiss corrupt officers, is only an advisory body. Whenever it advises government to dismiss any senior corrupt officer, its advice is never implemented. | Lokpal and Lokayukta will have  complete powers to order dismissal of a corrupt officer. CVC and all departmental vigilance will be merged into Lokpal and state vigilance will be merged into Lokayukta. | No action is taken against corrupt judgesbecause permission is required from the Chief Justice of India to even register an FIR against corrupt judges. Lokpal Lokayukta shall have  powers to investigate and prosecute any judge  without needing anyone’s permission. | Nowhere to go  Ã¢â‚¬â€œ People expose corruption but no action is taken on their complaints. | Lokpal Lokayukta will have to  enquire into and hear every complaint. | There is so much corruption within CBI and vigilance departments. Their functioning is so secret that it encourages corruption within these agencies. | All investigations in Lokpal Lokayukta shall be transparent. After completion of investigation, all case records shall be open to public. Complaint against any staff of Lokpal Lokayukta shall be enquired and punishment announced within two months. | Weak and corrupt people are appointed as heads  of anti-corruption agencies. | Politicians will have absolutely no say in selections  of Chairperson and members of Lokpal Lokayukta. Selections will take place through a transparent and public participatory process. | Citizens face harassment  in government offices. Sometimes they are forced to pay bribes. One can only complaint to senior officers. No action is taken on complaints because senior officers also get their cut. Lokpal Lokayukta will get  public grievances resolved in time bound manner, impose a penalty of Rs 250 per day of delay to be deducted from the salary of guilty officer and award that amount as compensation to the aggrieved citizen. | Nothing in law to recover ill gotten wealth. A corrupt person can come out of jail and enjoy that money. | Loss  caused to the government due to corruptionwill b e recovered  from all accused. | Small punishment for corruption-  Punishment for corruption is minimum 6 months and maximum 7 years. | Enhanced punishment –  The punishment would be minimum 5 years and maximum of life imprisonment. | How to cite Lokpal Bill, Papers

Friday, December 6, 2019

Analysis of Mcdonalds Performance free essay sample

McDonald’s restaurants and franchises have achieved great fame and fortunes since their inception in 1954 by Ray Kroc. Kroc had no idea of how far and wide the business would reach, but he had the strong idea of opening multi location restaurant serving each and every person. Since then the business flourishes and in 1965 went to public by its initial public offering and by 1985 it had a place in Dow Jones Exchange. The menu of McDonald’s is not limited to hamburgers and drinks but also include coffee, salads, chicken wings and goes greater with the regional tastes. Today McDonald’s is serving more than 68 million people in 119 countries through 33,500 restaurants about 20,000 of which are operated by the local franchisees1. McDonald’s competitors in the field of fast food chain are Pizza Hut (Yum Brands Incorporation), KFC, Taco Bell, and Long John Silver Chains. McDonald’s continued to remain at the top through its quality preference as the Annual report of the company emphasizes much focus on winning competitors through better quality. We will write a custom essay sample on Analysis of Mcdonalds Performance or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Recent times study revealed that McDonald’s and its competitors are now focusing to reach each and every customer through reliability and affordability. Its 1 dollar menu can cherish you with adequate food at breakfast or any time you want. This paper discusses briefly about the past performance of McDonald’s Corporation. The main sources from the data collected are Annual Reports of the entity published annually at the year ended December 31. Through annual reports major financial ratios are calculated and financial performance of the entity has been analyzed. Discussion on stock performance is mainly dependent on performance of company’s stocks in New York Stock Exchange. It has been revealed by analyzing the financial performance of the company that it has made a remarkable progress during the past years and maintained adequate financial progress. Financial Statements for the year ended December 2011 revealed that company has adequate working capital requirements. It has maintained a good sufficient amount of cash flows during the year; $ 2,387 million (during 2010) which constitutes around 55% of its total current assets, similarly in 2011 it stood at $ 2,336 million and constitutes around 53% of its total current assets. Maintaining high liquid is always better for an organization, which indicates the ability to pay its debt more quickly. Financial Stability of McDonald’s is evident from the favorable financial ratios, these ratios advocates the success of this corporation. It has high current ratio around 1. 25 better than the industry average which stands at 1. 19. It means McDonald’s has more current asset than current liability and eventually 125% more current asset to pay its current debt/liability. Inventory turnover of McDonald’s is 20 times more than the industry average, i. . 231. 22 while industry average is 10. 52; this indicates that the management is handling sales efficiently, and inventory is sold 231 times during a financial year. It also has sustainable operating profit margin which stands at 31. 58% percent better than its competitors and industry average. It also shows a continued increasing graph operating profit margin from 17. 02% in the year 2007. It has al so witnessed a 5% increase in Return on equity from 33. 80% (2010) to 38. 24% (2011), thus supporting a sustainable growth for the owners. Analyzing stock performance of McDonald’s Corporation (MCD) also gives a better picture and increasing share value of the corporation since 2007. Stock prices of the corporation have shown a rapid increase and almost tripled since 2007. During the year 2011 the graph only witnessed a sharp increase i. e. 70. 46 in January 2011 and 98. 86 in December 2011 around $28 increase in a year advocates the stability of its performance in the stock market. By looking at the historical performance of McDonald’s one can easily go for investing in it because it has proved itself recession proof during the last 4 years. McDonald’s above average performance summed up in the beta’s of corporation stock, 0. 44. This number indicates the stock is less dynamic and more sustainable to the market as a whole. It has fallen from 0. 77 in the year 2008 when it was declared to be more volatile. However McDonalds today also is the better option for safe investors. The company is operating in 119 countries with strong brands association and demands in general public that is why stock fluctuation is rare. Morning Star international investment research suggest investors and prospective investors that despite having much challenging environment worldwide, more competitive prices and rapid increase in inflation, McDonald’s continues to strive and thrive for its sustainability and proved its success all the time. Morning Star is optimistic about the McDonald’s future performance and expects superior return on invested capital. They are confident because of its incredibly strong brand and generous growth opportunities internationally for McDonald’s4. McDonald’s unique ability to adapting the culture and traditions of its operating regions make it number one choice for its customers. It celebrates Christmas in America as well as Diwali in India. In today’s corporate world like all enormous organizations, McDonald’s too will have to be aware of its customers’ demands and markets in which it operates in order to remain ahead of the current economical crisis the world faces. Though the corporation’s current economic and financial statistics suggest that it has the capability of meeting all the challenges ahead and in future it will remain the same number 1 choice for its customers.

Thursday, November 28, 2019

Parental support free essay sample

Parental Support in the Education of Children with Visual Impairment. Background to the study It is an undesirable fact that for every individual to be successful in life he or she needs education. Education is a right for all children being able or disable, Education is about people being able to learn what they need or want throughout their life based on their potentials. These include learning to know, to do, to live together, and to be self-dependent. Parents are the number one tool that will make access to education achievable by all means. All parents have the responsibility to provide basic, psychological, social, as well emotional needs to their wards in education. The support of parent in childrens education is seen as a vital tool in providing services for their children. We will write a custom essay sample on Parental support or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Parent who have children with visual impairment, are faced by challenges in educating them and have additional care giving responsibilities and spend substantial time and effort arranging everyday care for their children. In addition, disability is a life-long condition where the needs of children might extend beyond childhood into adulthood, which will lead majority of hildren with visual impairment to continuously live with their families longer than their peers without disabilities (Freedman Boyer, 2000). In Ghana and throughout the world successful education of children with special needs particularly children with visual impairment depends solely on their parental support in their education, in Ghana, the 1992 Constitution lays emphasis on the Free Compulsory Universal Basic Education( FCUBE) for all children including those with disabilities. Parent need to devote a good deal of time in taking care of their children with visual impairment n educational matters. According to the Salamanca Statement and Framework of Action (1994), every child must have access to education. There is no doubt that education is the key to success and development. It is the responsibility of parent to support in the education of children with visual impairment. Statement of the problem. Education plays a very crucial role in the development of a child whether able or disable. However: It seems some parents do not value the education of their children with visual impairment. It also appear that parent have wrong perceptions about ducating children with visual impairment. It appears some parents have fall to support in the education of children with visual impairment. It seems some parents find it difficult to provide for the educational materials and necessary resources for their children with visual impairment. Objectives of the study. The objectives of this study will be to: To examine what challenges parents undergo in educating their children with visual with visual impairment. To explore what influence parental support in educating their children with visual impairment. To find out Strategies to increase parental participation in the education of their children with visual impairment. Research Question The following questions will guide this study: 1 . What challenges do parent face in supporting their children with visual impairment? 2. To what extent are parent prepared towards the education of children with visual impairment? 3. What influence parental support for children with visual impairment in education? 4. What strategies can be adapted to increase parental participation in the education of children with visual impairment? Literature review. The literature to be reviewed for this study will cover the following strands. Challenges faced by parent in the educating children with visual impairment. Parent preparedness towards education of their children with visual impairment. Influence of parental support in educating children with visual impairment. Strategies for increasing parental participation in the education of their children with visual impairment. Significance of the study The results of the study will help identify factors influencing parental support in the ducation of children with visual impairment . This will enable the government to make provisions for children with visual impairment . lt will also enable the government to provide the necessary resources for the education of children with visual impairment . ln addition, it will identify the challenges parent undergo in educating children with visual impairment and how they are able to cope with these challenges. This enable counseling to be provided to enable parent to know the essence of educating children with visual impairment..

Monday, November 25, 2019

The Self Employed Sector In Sri Lanka Tourism Essays

The Self Employed Sector In Sri Lanka Tourism Essays The Self Employed Sector In Sri Lanka Tourism Essay The Self Employed Sector In Sri Lanka Tourism Essay Sri Lanka is an island in the Indian Ocean in South Asia, 65 610 square kg metres in country, divided into nine administrative states. It has a 90 % literate population of about 20 million. Colombo is the capital metropolis of Sri Lanka. The metropolis of Colombo attracts around 1.5 million populations during the daylight in working yearss. It is estimated that approximately 50 % of the transposing population arrives in the metropolis for employment or to prosecute in commercial activities and or to go to educational establishments. The remainder comes to the metropolis for assorted other intents. Colombo is the biggest metropolis in the state and, hence, it attracts people because of its commercial and political significance and it offers better installations in wellness, instruction etc. than any other metropolis in the state. The City of Colombo due to inadequate Infrastructure is beset by jobs of implosion therapy, drainage, clogging of canals, slums and hovels, traffic congestion, street sellers, name board, crouching on unauthorised land, accumulated refuse aggregation and deficiency of public unfastened infinite has compound jobs in the City. In Sri Lanka, there are about 8.5 million labor forces in 2009. About 4.5 million people are engaged in private sector while merely 1.2 million engage in public service. Over 1.7 million migratory workers are engaged in abroad occupations. Self employed labour force in Sri Lanka is estimated to be more than 2.6 million. RESEARCH PROBLEMS AND OBJECTIVE 2.1 Research Problems In concern about ego employed sector in Sri Lanka, street sellers are taking in higher part in the field. Lack of paid employment coupled with poorness in rural countries has pushed people out of their small towns in hunt of a better business in the metropoliss. These peoples do non hold the accomplishments or the instruction to enable them to happen better paid, unafraid employment in the formal sector and they have to remain for work in the informal sector. The rise in the figure of street sellers is mostly due to the deficiency of employment in other sectors. Street sellers are an of import portion of the informal sector non merely because of their Numberss but because of the critical functions they play in this sector. The goods sold by street sellers are cheaper than those offered by the large stores.The goods sold by street sellers are normally consumed by those in the informal sector, as they are inexpensive. Furthermore, a important sum of goods manufactured by little industrial units in the informal sector is marketed through these street sellers. There are about 20,000 peddlers in Colombo entirely, drawn from the poorest sectors of the state s population. This figure could be an underestimate as there is no proper study on the existent figure of street sellers in the metropolis. The addition of unaccredited street sellers is chiefly because the Colombo Municipal Council has stopped publishing licences after 1996 because of security grounds in the state. Most of the sellers are illiterate and have no accomplishments to take up any vacancies in public and private sectors. However, they have to feed their households. Some of them have been engaged in their little concerns for decennaries. Sellers have no option but to utilize public infinites as their workplace. In the other manus history of paving peddlers is linked to political relations. In most metropoliss new sellers come on to the pavings during the clip of elections. This type of actions is allowed by politicians as a manner of demoing gratitude by supplying employment to assorted people who have supported them in their election runs. Though it is illegal local governments are frequently prevented from taking them because of power of the politicians. As a consequence the attempts of consecutive authoritiess to unclutter the metropolis pavings were frequently unsuccessful. 2.2 Research Objective The chief intent of this research is to suggest to the local governments or authorities to evict these street sellers for reconstructing the Colombo metropolis as a modern and beautiful metropolis in line with the bustling capitals of Asia. 3. RESEARCH FIELD Street sellers can be found all over the state. But in this research has concerned about lone capital metropolis in Sri Lanka. In the other metropoliss besides has been faced a job with these sellers. Harmonizing to the Time bound has concerned about informations in capital metropolis. 4. RESEARCH METHODOLOGY In this research I use merely secondary informations. They are, Statistical information from Statistical section in Sri Lanka. Web sites. Information about other states Finance commission studies Colombo Municipal Council Annual studies Colombo Municipal Council News paper articles Email information s 5. RESEARCH LMITATION The restrictions of this research can be identified as follows, 5.1 Secondary informations In sing about topographic point and clip bound I have nt opportunity to utilize primary informations. 5.2 One solution There will be holding other solutions besides to work out this job. But I had merely concerned about one solution for this survey. 6. REGULATIONS REGARDING VENDORS IN SRI LANKA Sing street sellers in Sri Lanka have no legal position to carry on their concerns and they are invariably harassed by the governments. Street peddling in most urban countries is non wholly illegal and sellers can provide their trade on the pavings by paying a day-to-day revenue enhancement to the municipal council. The authorities should take necessary action to take up the issue of a national policy for street sellers 7. HOW IS STREET VENDORS BECOME A PROBLEM TO THE CITY Life Pavement is a public route and non a modesty for bargainers. Thus it should be the sole country of the walkers and no individual has the right to settle in this country on lasting footing. Digesting illegal business of pavings is equal to covering a blow to single freedom of all the walkers to bask a hassle free walk through the streets. Addition to that illegal business of public belongings would be a decease blow to holding a disciplined society. This is the underlying rule behind the thought of the authorities to pulverize unauthorised constructions in all chief metropoliss. There are some jobs in connexion with these street sellers in capital metropolis of Sri Lanka. There are about 20,000 street sellers in Colombo and most of them live in slums around Colombo. Harmonizing to authorities statistics, about 54 per centum of Colombo s occupants are slum inhabitants. The slum inhabitants are increased in every twelvemonth around the Colombo and one grounds for that this street sellers. One of other job is most of these sellers are making illegal concern in these topographic points. There are besides happen felons at dark. Most of the paving concerns are cover for drug pedlars and it is besides no secret that these make-shift constructions are inhabited by procurers and cocottes. Street sellers are besides blamed for the crud. The sellers dispose of their refuse on the paving or on the streets after their street concerns. Sometimes the nutrient is sold wrapped by utilizing paper, and clients throw that paper on the street. Harmonizing to this issue, street refuse s job has a strong relation with street sellers. Municipalities and walkers are concerned about this refuse because of these sellers. Other job is these sellers doing for traffic jobs. Most of roads in Colombo are non so wide. These sellers attract peoples to them and make non concern about route traffic or safety. Some sellers are making concern in roads go againsting route regulations and besides turn into the roads narrow. Today street seller s country has become an eyesore non merely to the tourer but besides to the civilians in the state. Sometimes because of these sellers has non attraction for tourer to the state. 8. Previous SOLUTIONS FOR THESE STREET VENDORS As a consequence the attempts of consecutive authoritiess to unclutter the metropolis pavings were frequently unsuccessful. In the past efforts to free the pavings of peddlers have ended in failure. The payment peddlers were back in no clip with the approvals of politicians. It has been a clear instance of popular political relations excluding the authorities to make the right thing. Consecutive authoritiess tried on a figure of occasions since 1977 to take Colombo s street sellers but backed off in the face of resistance. To the sellers have no alternate chance to keep their lives without street peddling due to the deficiency of formal occupation chances for them. On the other manus, to urban governments and municipal councils besides do non hold proper guideline for their big figure of street sellers. In presents without proper regulation and ordinances can non command these big figure of sellers. 9. INTERNATIONAL CASE In the undermentioned subdivisions, sum up the information on the different two states. 9.1 BANGLADESH Most of South Asiatic developing metropoliss have a big figure of street sellers as an informal trade in the chief urban dealing points every bit good as Dhaka City. Not merely the low-income group but besides the middle-income group of urban inhabitant depends on street seller for shopping in their life. In the Dhaka City Corporation ( DCC ) country 60 % houses are of low-income, 37 % in-between income and the remainder 3 % constitutes high-income houses are in the Dhaka City, Bangladesh. More than 60 % of urban inhabitants depend on urban street sellers. However, Street peddling is non a suited occupation for females in Dhaka City because it is hard to protect them from local leader and local authorization s torment. However, the local authorization has no proper rehabilitation policy for their street sellers. Sometime the authorization evicts them from their country and sellers become idle due to this eviction. However, when the local governments evict the street sellers from urban country it affect to the big figure of urban inhabitants. Particularly, whose lives are being maintained by street sellers or entree stores from the street sellers in their urban live. A big figure of urban inhabitants considerations, street sellers are portion of their lives. The authorization has indicated that street seller is an illegal trade in urban country of Dhaka City. After eviction, the local authorities established the vacation market for street peddling in some persons urban countries. But harmonizing to the seller s sentiment, holiday market does nt hold adequate infinite for the big figure sellers. 9.2 Singapore Degree centigrades: UserscompaqDocumentsNew folderw.jpgC: UserscompaqDocumentsNew folderww.jpg This is a one state in the universe where all street sellers are licensed. It is the responsibility of the Hawkers Department in Singapore to look into that there are no unaccredited peddlers and issue licences to those desiring to peddle goods on the pavings. In 1971, a national programme aimed at constructing nutrient Centres and markets to resettle accredited street nutrient peddlers was taken up. The programme provided basic stall installations and services such as piped drinkable H2O, electricity and refuse aggregation and disposal. By 1996, all street peddlers had been wholly resettled into nutrient Centres and markets. At present there are about 50,000 street sellers in this city state. The peddlers section plays an active function in guaranting that the peddlers keep their environment clean and do non put restraints on walkers. Its functionaries inspect all stables and see that they abide by the Environmental Public Health Act of 1968. It besides organizes regular preparation classs on nutrient and personal hygiene, and nutrition. The composing of the metropolis s street peddling population is altering. There is an outgrowth of younger, better educated street sellers. The alteration is more noticeable in nutrient Hawking. The assortment of nutrient offered is wider than the traditional menu earlier. The younger, educated nutrient sellers are willing to experiment with new international dishes and this has increased their popularity. The authorities decided to upgrade the nutrient stables in the dumbly populated residential countries. By 2006, 65 such Centres were upgraded. Though the rents charged by the authorities have increased, the street sellers still acquire a batch of patronage because the points they sell are cheaper than those sold in stores. One important fact about street sellers in Singapore is that over the past 30 old ages they have helped maintain the cost of populating down since workers, pupils and the poorer subdivisions depend on them for their day-to-day necessities, including their repasts. This is true of other topographic points as good but unluckily the contrivers seldom consider these parts to the local economic system. 10. Policy IMPLICATIONS Eviction of street sellers. Street sellers in all over the state should be evicted by representing the jurisprudence and ordinances. All street sellers should evict to avoid incommodiousness to walkers and maintain the country clean. Illegal business of private or public belongings should non be tolerated at any cost. If we do so it would be a decease blow to holding a disciplined society. Digesting illegal business of pavings is equivalent to covering a blow to single freedom of all the walkers to bask a hassle free walk through the streets. Therefore the determination to unclutter the pavings in all metropoliss is a commendable attempt that should be encouraged by all. Clear all the pavings and relocate the bargainers in new topographic points so that prosaic can travel on the pavings. 10.2 Construct lasting shopping composite. Street sellers eviction from street should supply lasting concern topographic points for them. Therefore, it is the Government s responsibility to give them the protection and security in every possible ways. The object is building of new trade composites for sellers, protect the ego employees public assistance and give them a bright hereafter. 10.3 Business Licenses After replace the concern topographic points should present the new licence system for them. It can be done by local degree or cardinal degree. The local governments did nt bear down revenue enhancement from street sellers because deficiency of responsible for sellers. But after implementing these policies by governments can be charge revenue enhancement from sellers. 11. CONCLUTION Street peddling in most urban countries is non wholly illegal and sellers can provide their trade on the pavings. On closer expression can happen that their destiny is no different from street sellers in Bangladesh and Singapore. Despite deriving some legal acknowledgment, sellers are evicted if the municipal council feels that they cause jobs to the general populace. In most instances in the past evicted sellers are non provided surrogate sites. In sing as decision should supply by local governments or authorities alternate topographic points for sellers to make their concern. Implementing eviction of sellers in the roads can be enjoyed with followerss. Individual freedom of walkers Individual freedom of all the walkers is increased with free walk through the streets. Therefore all will wish the thought of clear pavings with sufficient infinite for walking. Thus the thought of uncluttering the pavings will bask the support of the huge bulk of people. Slum inhabitants In Colombo around 1000 estates of premier land are being usage by slum inhabitants. After implementing policy sing sellers most of these lands besides can take under control of local governments or authorities. By utilizing these lands can present new plans to increase the economical growing of the state. Successful ego employed individuals Because of building of new shopping composite for these sellers it will be utile to bring forth a successful ego employed and create professional work force in the field. Making new employment chances both in the Government and Private sector would non be plenty to cut down unemployment wholly and that advancing self employment avenues would be an of import portion in work outing the unemployment job in the state. Traffic congestion After implementing eviction policy of sellers in the pavings it will be helpful to cut down route traffic besides. The roads in Sri Lanka are non wide. But after eviction of sellers on the paving the bing roads will be plenty to cut down traffic congestion on the roads. Foreign investing Eviction of street sellers in capital metropolis will be helpful for reconstructing the Colombo metropolis as a modern metropolis in line with the bustling capitals of Asia.

Thursday, November 21, 2019

Fast Spread of Vulgarity through the Internet into the Innocent Minds Assignment

Fast Spread of Vulgarity through the Internet into the Innocent Minds of the Adolescents - Assignment Example The people obtain a study guide, health and fitness tips, devise, share and revise business plans, and minutely observe the changes taking place within their social and natural environment. Hence, from getting information related to personal, domestic, corporate and amusement activities to chatting with the distant friends, and from reading articles of one’s own choice and interest to watching the latest models of automobiles, cell-phones, clothes and furniture are sought out from the internet. Moreover, the scholars, researchers, writers, poets, scientists, architects, lawyers, and intellectuals also have obtained the opportunity of getting and sending material related to their profession and interest by using the same platform. Thus, the internet has got the status of an inevitable product that fascinates and satisfies the individuals belonging to every age group, socioeconomic status, gender, ethnic-racial group and profession. Somehow, instead of taking positive and constr uctive benefit out of this great invention, the nefarious people have included and inserted pornography and filthy material challenging the very moral values, ethics and decency have been followed and observed by humanity for centuries; almost the same is the case with a mobile phone. Though the cell phone was simply invented to send and receive important information of very urgent matter, yet the people have started misusing it by spreading startling news and appalling issues, which should have no concern with the mobile phone. It is the need of the hour to take immediate steps to combat with the very threat in order to eradicate the fast spread of pornography. The authorities should apply blockages to all the sites that contain the words and addresses related to sex and nudity. There must be a ban on the development of the sites that are damaging the moral and ethical values of our society. Though pornography through the internet certainly affects all strata of society, yet it is the most fatal thing particularly for the adolescents, which are the future builders of our society and nation. The authorities should impose banishments on the recording and developing of nude movies so that the young generation could be protected from the mental and physical bankruptcy. The internet and communications regulatory authorities should take urgent steps to prohibit the selling of pornographic material, including video films, CDs, cassettes, books and periodicals, watching of which is swiftly and constantly making the youth the addict of sexual activities, deviant behavior and perversion. The age of puberty and majority for purchasing tobacco, wine, liquor, sex enhancing pills and condoms as well as for joining and attending the clubs should be declared to be 21 years, instead of 18 years, so that sexual excesses and perversions could be mitigated to a great extent. The reports reveal that the grandfathers, uncles, neighbors and stepfathers are involved into forced sex and rape with the minor girls and even boys, which not only are destroying the very fabrics of family and blood relations but are also inviting the complete ruination of the young generation. The law enforcing agencies must announce severe punishments and sentences to the culprits too to save the innocent children from going astray as well as from becoming the victim of rape and incest.

Wednesday, November 20, 2019

Multicultueral issues Essay Example | Topics and Well Written Essays - 500 words

Multicultueral issues - Essay Example Why? What did you learn about yourself from the assessment on p. 228+ of the text – Four Building Blocks of Diversity-Conscious Leadership? The results of the self-assessment test revealed that I am culturally intelligent as most responses indicate one’s understanding of meeting people from diverse cultural backgrounds. There is therefore strengths in the areas of understanding diversity in culture from the experiences in previous travels in different countries. I met many people while studying in the USA. Among my friends are people with Eastern Europe, Asian, Hispanic backgrounds. I understand that different cultures have different ways of doing things or saying something, and I respect this. I am therefore satisfied with generating a high ranking for my CQ since it is an indicator of greater understanding, awareness, and skills in communicating, both verbally and non-verbally, with people from various cultural backgrounds. Finally, I learned that the four building blocks of diversity-consciousness leadership are understanding, awareness, skills, and commitment; where I have strengths in all three: understandin g, awareness and skills and would need to develop the building block on commitment ensure being a more diversity-conscious leader. In Chapter 1, my knowledge on the topic of diversity was significantly enhanced as it discussed topics that range from diversity, culture, diversity consciousness, and presented a number of different reactions to our changing cultural landscape. As such, my appreciation for different perspectives, preferences, and points of views of people from diverse walks of life was strengthened. I learned to deepen my consciousness in terms of disputing identified myths in diversity and in ways to assimilate in a new culture to prevent conflicts and to enhance communication and interpersonal relationships. 4. Based on what you

Monday, November 18, 2019

Indonesian Political History Research Paper Example | Topics and Well Written Essays - 1000 words

Indonesian Political History - Research Paper Example An armed struggle followed between the Dutch and the largely Japanese-trained Indonesians, which culminated in the Netherlands’ recognition of Indonesian independence in 1949, after much loss of lives on both sides. 2. Japanese interests in Indonesia were closely linked to Japan’s colonial ambitions in Asia. It sought to establish itself as the biggest power in Asia after having achieved many victories, on the economic front and on the warfront. Japan also intended to gain an upper hand in the volatile situation that the Second World War presented. They sought to take over the reins of power in Indonesia from the Dutch. They were widely perceived to have dented the power and pride of the white western man and were thus welcomed in many Asian countries struggling under the yoke of colonialism. One of Japan’s main professed objectives in Indonesia was to end the system of administration that was based heavily on race. The objectives of the Japanese were not very di fferent from the Dutch and this can be inferred from the imperialist measures that they undertook while in power. 3. Japanese policies towards Islam in Indonesia were the opposite of those that were followed by the Dutch. While the Dutch believed in imposing restrictions on the practice of Islam through the use of force, the Japanese administration was able to harness the energy of Islamic institutions so as to provide itself with support during the Second World War. Their choice of a course of action was also influenced by the lack of resources available to pursue any alternative strategy. The War had drained tem of the power to pursue any policy that was based on the use of force. Japanese policies were aimed at enabling Islamic structures to be centres of mobilization for the cause of the War and the nation. 4. While a majority of the Indonesian population is Muslim, the constitution does not grant a pre-eminent position to Islam. Based on the principle of Pancasila, the Indonesi an constitution provides its citizens with the freedom to practice whichever religion they choose. The first president of Indonesia, Sukarno, was fearful of the secessionist impulses that may have arisen had Islam been declared the state religion. While there were uprisings for the cause of the inclusion of Islam as the state religion, they were defeated with the defeat that the first elections in Indonesian handed out to parties that were based on the principle of Islamic nationalism. Later on, Sukarno, the second premier of the nation, showed great inclination to grant Islam a prominent position within the constitution but failed. As a result, the Indonesian constitution does not grant any special status to Islam. 5. The establishment of a secular constitution received a mixed response from the Indonesian public. While there were protests demanding the inclusion of Islam within the constitution as the state religion, they were largely unsuccessful owing to the lack of large number s to support the movement. The period of Sukarno’s reign saw a secular government because of the response that the Indonesian public gave to political parties with Islamic nationalism as its main agenda. These parties were able to get only a small portion of the total votes in the first Indonesian elections, signaling the Indonesian public’s aversion to the rise of Islamic politics. Even though Sukarno, during his tenure, tried to appease Muslim powers, the rise

Friday, November 15, 2019

IMC Plan For Milk Management Essay

IMC Plan For Milk Management Essay This project is about the IMC used by the Milk company. It includes the all the promotional tools used by the company for marketing communication. In this we are using different sales and promotion techniques for the sale of our company milk and building a strong image of our company product in the minds of our customers. Special kinds of price discounts , samples are given to the customers and traders for the strong positioning of our product in the market. The name of milk product is the pure milk, and the tagline of our milk product is ‘the real milk of India.† The main objective of our company is to provide better quality to our customers as compared to our competitors and building a good image of our product in the minds of the customers. By providing a better quantity to our customers our company will generate a revenues, which our company would further invest for increasing our product line. In this we it is discussed that what are the different kinds of four Ps of our company . What is the Price of our milk , What are the different kinds of promotional tools used by our company for the sale of our product . Different kinds of strategy are used by our company for increasing revenues from our milk product. At the end estimation of budget is done for knowing the expected expense done by the company for our milk product. INTRODUCTION TO MARKETING UNDERSTANDING MARKETING- Before we begin discussing marketing communication, We must take a moment to understand its higher order discipline ,viz, marketing. Marketing is a composite of many activities related to customers need fulfillment and satisfaction. Marketing includes many tasks right from identifying consumers needs and wants to fulfilling them. DEFINITION OF MARKETING- The American Marketing Association defines marketing as the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange that satisfy individual and organizational objectives. For marketing to be effective ,it requires successful coordination of all these activities at different levels in the organization. THE MARKETING MIX Various maketing activities can be classified into four general categories,viz,Product, Price, Place( distribution ) and promotion, which are populary known as the 4Ps of marketing or marketing mix. PRODUCT- This includes all the activities related to the conception and planning of actual product that fulfills consumers needs and wants, i.e, decisions regarding product quality , designs, features , sizes, varieties, brand name, warranty, gurantee and other services. In this project the product is milk. The name of our company is the PURE MILK .Milk is provided in different packages of different sizes i.e,1 kg and half Kg packets. Pice of is 28 Rs and Half Kg product is Rs14. PRICE- This area deals with activities related to setting the price for the product. Decisions regarding retail and wholesale prices, margins of channel members, discounts and allowances, credit terms, payment period , etc. are the part of pricing function of marketing mix. The 1 kg of milk Packet is of Rs. 28 and Half Kg is of Rs 14. PLACE- Placement or distribution refers to all activities involved in getting the product to the final consumers. Decisions under this â€Å"P† relates to the distribution channels, market coverage, locations , inventory, transportation, etc. The main target market of our milk product is the PUNJAB STATE. As the people of Punjab are very health conscious and believe in better quality , So, our companies main target market is the population of Punjab. Our company would sell our milk product to all the retail outlets, Sweet shops, Dairy shops, in all over the Punjab. PROMOTION- Promotion refers to all the activities concerned with informing consumers about an organizations offering , persuading them to buy it, and reminding them it from time to time. Activities like advertising, sales promotion, directing, direct marketing, public relations, personal selling and other conventional media to comprise the â€Å"P† of operations. In promotion of our milk product we will use different kinds of promotional activities like advertising, direct marketing to the consumers and retail outlets. UNDERSTANDING MARKETING COMMUNICATION(PROMOTION) It involves all the activities concerned with effectively communicating Product information to select target audiences. A target audience is a group of consumers to whom marketing communication messages is directed. The prime purpose of communication is congnitive, affective or behavioural response, whatever that desired response may be. In other words, the communicator might want to imprint something in consumers mind(cognitive response), change in attitude(affective response) or get the consumer to act (behavioral response). ADVERTISEMENT OF MILK COMPANY (PURE MILK) The word advertising is derived from its Latin root ‘ad verter† Which means ‘to turn towards† or â€Å"to attract attention to†. DEFINITION OF ADVERTISEMENT- Advertisement is the any paid form of non- personal presentation and promotion of ideas or products by an identified sponser. The main objective of advertisement can be categorized based on whether their goal is to- Inform Persuade Remind Reinforce In our company of milk product , we can use the Brand Building advertising that focus on creating product awareness and brand building image.It is strategic and hence relatively long term in nature. We use the tagline â€Å"pure milk†, â€Å"the real milk of India†. Retail advertisement can also be used by the retailers on the local scale.It is aimed at building store traffic, creating a distinctive image for the store and more often than not, at triggers sales in short run. Retail advertisement is more informational, giving details about the outlets and its offerings. E.G The retail outlets where we sell our milk would put down small notice on their blackboards about our product i.e , it is available there , its prices, it will help in attracting more and more customers. DIRECT MARKETING- We will sell our milk also through direct marketing. Direct marketing is a interactive system of marketing which use one or more advertisement media to effect a measurable response or transaction at any location. The advantage of direct marketing is that in results in quicker sales, better targeting and relationship building and less competition and from this we will come ,more close to our customers. In this case we will come more close to our customers and will get the perception of the customers towards our product. TELEVISIONS- Our company will make a advertisement of our company milk product and telecast it on the T.V. Special kind of creative advertisement is made by the company for creating interest of the customers towards our milk product. The main aim of our television advertisement to aware people about our milk product. INTERNET—As we know in today scenario, Internet is having a special place in the minds of the people. Our company Will also make Our website from which the interested people will get the important information about our product and about the product benefits and quality. The main benefit of Internet communication is that it is directed directly towards the target market . The customers who are interested will easily go through our website and get knowledge about our product. It is totally personalized and up to date mechanism for attracting customers towards our company. Through it customers will also give their experiences and suggestions for our milk product. DIFFERENT KINDS OF SALES AND PROMOTIONS USED BY THE COMPANY DEFINITION OF SALES AND PROMOTION ‘Sales promotion consist of a diverse collection of incentives tools, mostly short term , designed to stimulate quicker and greater purchase of a particular product or services by the consumers or the trade.† Types of sales promotion used by our company- Our company will used different type of sales promotion activities for increasing sales of our product and awaring the customers towards our project.Consumer promotions are those that are directed to the consumers. The objective of consumer promotion is to offer the consumers some added benefit to entice him to buy the product.Ths is normally done in addition to the advertisement. Whereas advertising has a long run effect on the purhase behaviour , connumers promotion have more of a short term effect. SAMPLING- This form of promotion ifs found to be especially useful when one is introducing a product for the first time. Our company will also gives sample to the target customers for checking out their reactions towards our product The samples are either distributed at the retail outlets and residences of the final customers.Our company also request the consumers to fill up a questionnaire after the sample is used and thus are able to get feedback about our product that whether the customers like it or not. But the sampling is however one of the most expensive method of consumer promotion and there is no gurantee that the customers will actually go and buy the sale pack of our product. PRICE OFF This is essentially offers the consumers the product at less than the marked maximum retail price. The purpose of this is to induce the consumer to try our milk product immediately. QUANTITY DEALS- In the quantity deals , our company may provide more quantity in a same price for attracting the customers towards our product. Like our company would increase the quantity at the underlying price of our product. This will helps us in attracting more and more customers towards our milk product. DISCOUNTS- Our company will give discounts to our customers. Like if The customers buy four -five liter milk or more than it or milk in a bulk , we will give them discounts. OUT PRODUCED GIFTS- In this case the gift item is attached to the product from outside. This will attract customers towards our product. Like we will give ONE PLASTIC GLASS free with every 1litre milk packet for attracting customers or increasing our sales. CONSUMERS CONTEST- These are run to create an excitement amongst the target segment. Contest are normally advertised extensively and test more often than not the knowledge of the consumer on the product or some other skills. We will involve the completion of a sentence , which may say that â€Å"I LIKE A PURE MILK BECAUSE OF -â€Å". Prizes for this contest would be very excited for creating interest of the consumers towards it. Different cash prizes, travel allowances will be given to the winners. TRADE PROMOTIONS- Trade promotions are those that are run to elict a better and quicker response from the trade. These can be done when introducing a new product to ensure enhanced stock preceeding a good season , or block a competitor. Trade promotions are normally part of of push strategy , the assumptions here are being that if the trader has a excess stocks bought trade scheme he will be motivated to push the product in order to recover his investment as soon as possible . There are several tools for trade promotions DEALERS GIFTS- For the sake of building a strong image in the minds of the dealers our company will also provide different kinds of dealers gifts and rewards so that they feel motivated and do more hard work for increasing sale of our milk product . If we provide gifts and rewards to our dealers they feel that our company is taking care of them and they are having a great position in our company. Different kinds of travel allowances , gifts, rewards are provided by our company. Special kinds of refrigerator are to be provided by the company for preservation of milk .On the special events like on new year, Diwali, gifts are given to the traders for getting them loyal to our product. DEALER CONTEST- Dealer contest are organized by our company for changing our traders as a loyal traders of the company and motivating them. Special kinds of rewards , gifts are given by the company for the winners. POINT OF SALE MATERIALS- Our company should also provide point of sale material to our dealers and traders. Special kinds of refrigerators, boxes are provided by our company for the better preservation of our milk product in the retail stores, dairy shops and sweet shops. SHOP BOARD PAINTINGS- Special kinds of hoardings, sign boards are fixed on outside and inside the shops, retail stores, dairy shops, sweet shops for attracting more and more customers and providing information to the customers that the product is provided by this particular shop. DEALERS DISCOUNTS —For making our traders more loyal to our company special discounts are arranged by our company. The traders who will purchase our milk product in the bulk or in a continous manner , special discounts are provided by the company to them by the company. DEALERS MEET- Special meetings are arranged by the company for doing meeting with the dealers, traders as they are more closed to the customers and they are having more information about the need, wants of the customers. The meetings are organized after every one and two months for meeting more information about our product and customer perception about our product. INTRODUCING NEW TASTE OF MILK PUREMILK(â€Å"THE REAL MILK OFINDIA†) MADE IN INDIA Manufactured BY- Pure Dairy Milk Company MUMBAI Phone No-12345678 THE IMC PLANNING PROCESS Marketing communication is one of the four tools of marketing mix. Hence, it is based on the strategic laid down in the marketing plan, which in turn is derived from overall business plan. Strategic planning is the process of devising a plan of action for meeting an organization goals with its limited resources and in the wake of varying market conditions. Strategy is allowed an organization to focus on limited sources on the best available opportunities, thereby achieving sales, profits and competitive advantage growth and a sustainable competitive advantage. There are three primary components of a strategic plan- OBJECTIVES- What a company wants to achieve. Objective dictate the course of action to be taken. E.G The main objective of our company is to provide better services to the customers. Our main target market is the retails shops, sweetshops, and dairy shops are there in the Punjab. STRATEGY—A long term plan of action designed to achieve the objectives. The strategy of our company is to expand the market in rural villages and also increase the customers. TACTICS- Immediate actions with resources at hand, short-term isolated events to take advantage of opportunities at hand. E.G— Company will reduce its prices as compared to others competitors. Like the selling price of 1 Kg Milk Product is Rs 24 and Half Kg milk product is Rs. 12. The current price of milk of our competitors are 1 Kg is of Rs 28 and half Kg packet is Rs 14. Our company will also provide discounts to the retailers ,wholesalers if they purchase our product continuously or in the bulk. THE MARKETING PLAN The IMC Planning process begins with the review of marketing plan. A marketing plan is a written document that details the marketing objectives, strategies and tactics foe an organization, product or brand, and guides the marketing efforts. It is based on an in depth understanding of the firms internal and external environment- the industry, the competition, the product current positioning , its customers, etc. THE IMC PLAN- Following are the steps involved in the IMC planning process. SUITATIONAL ANAYSIS- Like the marketing plan , the promotional plan also begins with an analysis of factors that are relevant to Promotional suitation. PAST PROMOTIONAL SITUATION- Review of campaign including their objectives , audiences, strategies, tools, media, and budgets. PRODUCT SITUATION- Our company will analyse that what are products which are present in our product category. Assessment of product benefits, quality, packaging, price, image, availability, features and unique selling points. Like our product is the milk our company is providing better quality milk to our customers as compared to our competitors. Price of product is that 1litre milk packet is of Rs 28 and Half Kg is of Rs 14. Avalibility- Our milk product is available at all the sweet shops, dairy shops and all the retail stores, which are having conditions for protection of milk. IMAGE- Our company have to made a unique image in the minds of our customers. So for this we have to chose features of our product so that our customers would easily remember our product. The mane of our milk product is â€Å"PURE MILK† AND THE TAGLINE OF OUR PRODUCT IS â€Å"THE REAL MILK OF INDIA AUDIENCE SITUATION- An analysis of audience of promotion buyers, influncers, decisions makers their demographic profile and psycographic profiles, behavioural patterns and life styles, factors influencing their products purchase decisions , buying patterns. COMPETITIVE SITUATION- Promotional strategies adopted by direct and indirect competitiors. In our product our main competitors are the other milk companies like Verka, Amul. Through tjis we would analyse that what is the position of our competitors in the market, what are their strengths, weakness, their product, price etc. Regulatory situation- Regulatory authorities governing the product category and media , and rules and regulations of the government which our company has to follow. Like our company has to see that what are the factors which we have to follow for sale of our milk product in the market. Whether we have the get license from the government and have to registered our company to them. Following are the some common area of analysis. A well-known practice for analyzing and summarizing the suitation is called SWOT analysis. STRENGTH Demand profile Absolutely optimistic demand Margins- Quite reasonable, even or packed liquid milk. Flexibilty of Product mix- Tremendous with balancing equipments. Availability of raw material- Abundant more than 80% of the milk products are flowing from the unorganized sector.which requires proper channelisation. Technical margins- Professionally trained -technical human resource manpower is built in our company. WEAKNESS PERISHABILITY- The main weakness of our milk product is its persihability. Special Conditions are required so that our milk cannot get spoiled. Pasteurization has overcome this weakness partially. Surely many new process will follow to improve milk quality and for extending its shelf life. LACK OF CONTROL OVER YIELD- Theortically, there is a little control over the milk yield. However , increased awareness of developments like embryo transplant, artifical insemination and properly managed animal husbandry practices coupled with the higher income to rural milk producers should automatically lead to improve in milk yield. LOGISTICS OF PROCUREMENTS- Because of bad roads and inadequate transportation facility make milk procurement problematic. But overall economic improvement in India, will lead to the improvement in these logistic problems. PROBLEMATIC DISTRIBUTIONS- All is not well with the distribution. There is a need of emergence of a cold chain linking the producer to refrigerator at the consumers home. COMPETITION- Now a days competition is very hard in every field. Our milk company may also face competition because of new entrants in the market.Because of huge competition the market is large is enough for us to carve out their niche market.We will overcome our competitors if we provide better services to our customer than our competitors. OPPTURNITIES FOR OUR COMPANY Failures is never ending final and success never ending VALUE ADDITION- We will add value to our milk products so that customers would buy product and will attract towards our product. Our company will add value added products like shikhand,ice-cream, paneer, khoa, flavoured milk, dairy sweets,etc, this will lead to a greater presence and flexibility in the market place along with oppturnities in the field of brand building. Addition of cultural products like yoghurt and cheese tends to furthet strength both in term of utisation of resouces and presence in the market place. A lateral view opens up oppturnities in milk proteins through casein, caseinates and other dietary products, further opening up . Export Oppturnities—If our product would get position in the market we will expand our market in the foreign countries also. Export oppturnities would be seen for increasing our customers.Our company would generate export potentials like various companies i.s- Amul is expoting their products in foreign countries like Bangladesh, Sri Lanka. Yet another aspect can be addition of infants foods,geriatric fods and nutritional THREATS Milk VENDORS- Today the milk vendors in the unorganized sector are occupying the pride , the place in the industry . Organised discrimination of information about the harm that they are doing to producers and consumers should see steady decline in their importance. Delicensing in the Indian Dairy Industry has been attracting a large number of entrepreneurs . But the success of them depends on the factor such as efficient economic facilities and innovation in the market place. DETERMINE THE PROBLEM OR OPPTURNITIES- The suitation analysis done in step 1 helps us to identify problems or oppturnities concerning communications. IMC plans can solve problems like awareness or knowledge, negative attitude, misconception about our product .I n this case we have to sell our milk product to the customers or have to aware the customers towards our product. DETERMINE COMMUNICATION OBJECTIVES- Communication objectives flow marketing objectives. Our company will use different communication media for increasing the awareness of our customers towards our product. Like we can use T.V, radio, print media, hoardings, bill board to aware customers towards our product. The main objective of our different kind of communication media is same- To create awareness of our milk product To increase sale of ur milk product To build a good image of our product in minds of the customers. To provide better qualities to our customers. DETERMINE THE BUDGET After setting the communication objectives, our company has to estimate how much we are willing to spend on the promotional activities. The company has to consider various issues like how much the programme will it cost, how much it can afford how much competitors are spending. Our company can make the budget by analyzing the sales expense or estimating sales in the one territory. The Steps involved in the estimating the budget is as follows. PRODUCT TARGET-The first step in the analysing the budget is to analsye the target market that where we have to sell our product and at which region. Like our company is targeting the State Punjab . Our main target market is the sweet shops, dairy milk shops, retailers of the punjab and population of the Punjab. We have to sell our milk product there so that it would reach to all our customers. Special trade discounts, special offering are provided by our company to our traders, retailers so that feel motivated and helps us in creating awarness our product towards our product. Like special kinds of refigerators and other rewards are given by our company to the retailers, dairy milk shops and sweet shops for preserving our milk . SALES BUDGET OF OUR PRODUCT For getting information about our sale expenese, we estimate the expense occur by our company for selling it in the one small town , Dasuya. For selling our product in the Dasuya city we recruit five sales persons. There name are as follows- Mr. Sohan singh 2Mr. Mandeep Singh Mr. Akash Kumar Mr. Ram Kapoor Mr . Yashdeed We are sending our five people in different regions of Dasuya City.Like one in North Zone, One in south zone , One in East Zone, one in west zone. And one in central zone. The main benefit of sales target is Inreasing market coverage because sales persons are more close to their customers.They know where they have to go , who are their customers, how they have to communicate with their customers. It also controls selling expense and time because sales persons have to know where they have to go and at what time. Wstage of time and mone should be eliminated by this sales territory medium. It will helps in enabling better evaluation of sales force performance. It will customer relationships. Because customers feels that they are more close t company and company is providing better services to them. It helps in increasing sales and increasing profits and revenues of the company. MANAGEMENT OF TERRITORIAL COVERAGE In the travel plan of our company customers we will do sheduling of our sales persons in a straight line manner, because through it all the sales persons start their daily schedule from the headoffice from their they get the information about their daily schedule and went to their assigned places. TIME MANAGEMENT TOOLS- The timing of our sales persons starts from the morning at 9:00 A. M. In the morning they have to come to the office for betting their daily schedule . At 10: 00 A.M they have to start their daily schedule and had to go their assigned places. In the evening at 5:00 P.M they have to get back in the office and had to report the headoffice about their daily schedule , how was their day and how was their experience of the whole day. At 2:00 clock, they are having their lunch for one hour. ESTIMATION OF THE BUDGET ON THE BASIS OF EXPENSE DONE ON ONE TERRITORY Salary of one sales persons in 1 month- Rs.15000 Salary of 5 sales persons- 150000 into 5= Rs 75000 Telephones charges- 1000into 5= Rs 5000 Vehicles Charges 1000 into5 Rs 5000 Daily meals charges-1000 into5= Rs 5000 Advertisement expense on T.V = Rs 90,000 Expense on print media and other Rs. 3,00,000 Medias like radio, internet= Raw materials Expenses = Rs. 5,00,00 Other Miscellaneous expenses= Rs .15,00,000 Total expense = Rs. 24,95,000 IMPEMENTATION OF THE PLAN- After making all this IMC plan we will Implement our planning for getting results and introducing our product in the market. Different kinds of communication tools are used by our company , for getting revenues and building a strong image of our product in the market. MONITOR/EVALUTION OF PERFORMANCE- After implementing, the whole IMC plan, we will evaluate our company performance to measure the expected results with the actual result and find whether our company IMC plan was able to build a strong image of our product. Different kinds of surveys, are conducted by our expertise to check the process of our IMC and monitoring the impact of IMC on the market and consumers mind. CONCLUSION From all the above information it is cleared that IMC is a very important aspect in introducing our product in the market and getting a strong position for our product. The tools of IMC like advertisements, direct marketing are helpful for our company for establishing a strong position in the minds of the customers and IMC provide assistance for the company for achieving their goals and objectives. These are the ways for fulfilling our objectives and provides us a path for fulfilling our objectives. By choosing different types of tools we convince our customers and attract our consumers towards our product a, and as a result of which we generate lots of revenues. BIBLOGRAPHY- http:/marketing about.com/ad/marketing glossary www the free dictionary.com/milk. www scrub com/doc/17660303/nestle-imc -plan. http freedictionary.com/milk/4540. www.imcplanning.comp.india.com www//marketing.about.comp//marketingglosary//imc.htm www.exampleessay.com.html drypen.in//salespromotion//sale tech.com BOOEK REFERRED- Sales And Promotion