Essay example --

Oscar E. Aguado AMULAC ID# 2166 Western Civilization II DS Prof. Baxa July 30, 2013 Bismarck: Genius or lucky Bismarck was one of the most dominant and significant statesmen of the nineteenth century. A political intellect who achieved the apparently impossible undertaking of unifying Germany without a political party to support him, despite an unsympathetic parliament and with no direct control over any army. His—Bismark— only arsenals were the utter force of his personality and his crafty ability to influence Emperor Wilhelm I. Jonathan Steinberg’s biography takes a new look at this witty, slightly hysterical despot using the diaries and letters of his friends, colleagues and enemies and he paints a portrait of a man full of contradictions. He had grand political visions that were created with subtle strategies of political genius but his pettiness and vindictiveness were never far behind. Bismarck adored conflict and he had a palate for being offensive. His â€Å"slap in the face† method to political manipulation was a tactic in itself that led him more often that not to get his own way. In the modern era minds, Bismarck is clasped together with a mix of Churchill and Pinochet. He was anything but consistent though. His conception of Realpolitik meant that anything that allowed him to get his own way was acceptable: whether or not that meant joining an Evangelical Christian sect as he did as a young man giving him a start in politics or cosying up to the Liberal party when it served his purpose. He even went so far as turn the Prussian political landscape upside-down by adopting full male suffrage much to the chagrin of his fellow conservatives. The Austrian Foreign Minister Baron Rechberg summed up Bismarck’s protean nature, when h... ...ck, through hard work and determination. He spent his life fighting liberalism and found natural allies in Russia and Austria, with their authoritarian and anti-democratic traditions but he was fighting a losing battle. The reactionary absolutism that he championed had had its day by the time he left the political stage. The great man acted as a bulwark against liberal and democratic principles while he could but when Bismarck was brushed aside, those principles flooded the political arena. So where did Bismarck’s genius lie exactly? He was the father of â€Å"Realpolitik† which meant â€Å"constantly shuffling sets of alternatives and playing off one against the other.† His real genius lay in his guile, cunning and sense of political timing – but above all in his willingness to take risks and be shockingly aggressive. Never has the force of personality alone achieved so much

Key Events in the Civil Rights Movement Essay -- Civil Rights Equality

The Civil Rights Movement started with The Montgomery Bus Boycott. The Boycott officially started on December 1, 1955. Rosa Parks was an Educated women and she attended the laboratory school at Alabama State College. Even with that kind of education she decided to become a seamstress because of the fact that she could not find a job to suit her skills. Rosa Parks was arrested December 1955. Rosa Parks Entered a bus with three other blacks and sat on the fifth row. The fifth row was the first row the black could occupy. After a few stops later the rows in front of them where filled with whites. According to the law at the time blacks and whites could not occupy the same row. There had been one white man left with out a seat. The bus driver had told the four to move so the white man had a place to sit. The other three that was with Rosa Parks had moved. Rosa Parks however did not. She refused and was arrested. E.D. Nixon post bond for Rosa Parks. He told her that with her permission they could break segregation from buses with her case. Jo Ann Robinson made flyers and distributed them with her students. The flyers urged people to stay off the buses on Monday the day Rosa Parks case was due. Martin Luther King, Jr. a minister thought that if they could 60 percent of the blacks to stay off the buses the boycott would be a success. Martin Luther King Jr. thought he saw a miracle when he saw bus after bus pass his house with no blacks in them. That night they had called a meeting him and other ministers and blacks of the community which they called there self (MIA) Montgomery Improvement Association. They elected King the president of the group. They had a decision to make whether or not to continue with boycott or not. Then E.D. Nixon rose to speak: ?What's the matter with you people? Here you have been living off the sweat of these washerwomen all these years and you have never done anything for them. Now you have a chance to pay them back, and you're too damn scared to stand on your feet and be counted! The time has come when you men is going to have to learn to be grown men or scared boys.? The MIA had then decided to let the people vote on whether or not to let the boycott continue or not. They held a mass meeting and it was obvious to see that they decided to continue with the boycott. When the boycott began no one had expected for it to ... ...a return to Montgomery, where the civil rights movement had started ten years earlier with the Montgomery Bus Boycott. A few months later, blacks had reason to rejoice again. It was truly a day for celebration. On August 6, 1965, President Johnson signed the Voting Rights Act into law. By 1969, 61% of voting-age blacks in America were registered to vote, compared to 23% in 1964. The Selma to Montgomery march clearly showed both how far American blacks had come and how far they still had to go. Ten years ago blacks could barley do anything and now they are equally treated how they are suppose to be. During the movement mainly great people died. The sacrifices they made help make America what it is today. The movement was from 1955-1965, those years where some of the hardest years for America. We overcome our differences and now everyone is equal. This report was based on The Civil Rights Movement. Websites http://www.mecca.org/~crights/cyber.html http://www.cr.nps.gov/nr/travel/civilrights/ http://www.infoplease.com/spot/civilrightstimeline1.html Books Voices of Freedom: An Oral History of the Civil Rights Movement The Origins of the Civil Rights Movement

Management and Union Relationships in an Organization

In today’s business environment, the relationship between management and union can play a vital role in the success of an organization. My research of the roles of unions and management will enable me to present concrete information of how these two entities perform in an organization. The Role of Management in an Organization â€Å"Management is the process of working with people and resources to accomplish organizational goals† (Bateman & Snell, 2007). In an organization, management has the responsibility of performing four major functions.These functions consist of planning, organizing, leading, and controlling. According to (Carter McNamara, n. d. ), â€Å"As planners, management identifies goals, objectives, methods, resources needed to carry out methods, as well as, responsibilities and dates for completion of tasks. As organizers, management organizes resources needed to achieve the goals in an optimum fashion. Examples are organizing new departments, human reso urces, office and file systems, re-organizing businesses, etc.As leaders? management set direction for the organization, groups and individuals and influence people to follow that direction. Examples are establishing strategic direction (vision, values, mission and / or goals) and championing methods of organizational performance management to pursue that direction, and as controllers, management coordinates the organization's systems, processes and structures to reach effectively and efficiently reach goals and objectives.This includes ongoing collection of feedback, and monitoring and adjustment of systems, processes and structures accordingly. Examples include use of financial controls, policies and procedures, performance management processes, measures to avoid risks etc† (Free Management Library, n. d. ). The Role of Unions in an Organization Unions are associations that represent the collective interests of their employee-members in bargaining and negotiating with organi zations. Trade unions generally seek to obtain higher wages, reduced working hours, and improved working conditions for employees.The also seek to improve workplace safety and obtain increased benefits, such as health insurance, pensions, and disability insurance, for employees. Unions work to protect the employment security of their members by negotiating the implementation of seniority rules and to eliminate â€Å"at-will† employment contracts which has subjected non-union employees to dismissal without cause. Although trade unions did not obtain legal recognition until the 1930s, laborers began organizing to bargain collectively with employers long before obtaining such recognition (Encyclopedia. om, 2011). Unions also help the organization by supporting the productivity of the workers. According to (OrganizationLabor. com, 2008), â€Å"They help in organizing training workshops so as to enhance their workers’ skills at the workplace. Also, they hold forums to sens itize workers on changes going on in the market as well as educate them on pertinent matters that would benefit them in general.Further support, which may differ, may be given at personal levels. A member might get legal representation in case of litigation where an employer is involved. Unions when conflict arises between employees and employers conduct meetings and hold talks with relevant policy and decision makers. This ensures quality talks from both sides and decisions of resolve that benefit the employer as well as employee. The Management and Union Relationship In today’s business environment, labor and management relations have been put on hold while organizational changes and transformations take place. There are some who believe that labor-management relations are a relic of an era when rising standards of living and stable markets seemed to be predictable.According to the text (Creative union-management relations, 1995), â€Å"Discounting the importance of labor- management relations is an extraordinary misunderstanding of the power and possibility of labor and management to catalyze organizational and human change. A union-management relation is not about playing out a Noh dance of ritualized motions or technical legalisms–it is an intensely human connection that affects the lives of managers and unionists alike. And as a very human connection, it arries with it the seeds of creativity and innovation† (Cohen-Rosenthal & Alfandre, 1995). During the 1950’s labor contracts renewed every three years. Each contract term was seen as progress to a better way of life. Unions and management who still believe in this idea are losing benefits accumulated over time. The predictable foundations of those benefits and collective bargaining seem to not work in this day and time. Collective bargaining has produced innovations and progress within organizations.According to (Cohen-Rosenthal ; Alfandre, 1995), â€Å"Numerous advances, such as new forms of employee participation in the workplace were first introduced at the bargaining table: New benefit packages, new types of working hours, new investment funds, new learning arrangements, and family friendly policies, etc. † When developing a labor-management partnership, one must understand and honor the significant differences between the traditional union and management workplace cultures. Both sides will have their own assumptions, values, and way of doing business.If the differences are not properly managed, they could get in the way of the partnership. According to (M. Scott Mulinski, 1998), â€Å"What looks easy for management to accomplish maybe difficult for the union. When a labor-management team comes up with a solution to a problem, management's normal reaction is to immediately implement it because it makes sense and affects the operation's bottom line. However, the union may be wary of implementing the proposal before it has been thoroughly discus sed at the union meeting(s) and the membership supports the concept.Management's insistence to act immediately may cause the union to back off or implement without support from its membership. Failure to recognize the union's â€Å"way of doing business† places unnecessary strain on the relationship and can result in a breakdown of the trust level between the parties, and possibly create political problems for the union leadership (which could spell an end to the entire partnership). † A labor-management partnership is built upon the philosophy of teamwork, cultural change, trust, free flow of information, removal of organizational barriers, and development of a high-performance workplace.There should be no venture into a work area that does not accept the partnership philosophy or whose agenda is different from those set by the labor-management partnership. This partnership can run into problems if demands exceed resources. A level of trust must be gained within the pa rtnership. If trust issues are addressed, effective, honest communication will develop alleviating fears of retaliation for speaking out. This also produces a higher level of respect and less conflict. An effective labor-management relationship will increase the availability of appropriate training and skill development programs. According to (M.Scott Milinski, 1998), â€Å"in Fort Lauderdale, Fla. a labor-management committee was established to address staffing and overtime problems in the city's 911 Telecommunications Center. The committee decided that it needed to better understand how the city's pay system operated before it could address staffing issues. At that point the committee received training on the city's budget and classification plan. Now the committee was prepared to design a new classification, conduct a professional pay study, recommend the appropriate pay range for the new classification, and estimate cost savings through reduced overtime† (Milinski, 1998). Although conflicts will remain, there must continue to be acknowledgements of changing roles and control issues. Management within unionized organizations have always been told to enforce contractual rules and their rights to make decisions, however in a labor-management partnership management roles must change from controller to team member. The key to a successful labor-management partnership lies in the fact that, â€Å"although everyone's role changes, the supervisor and middle manager must adjust more than anyone else. The supervisor's primary role is changed from controller to coach.Middle managers need to understand that their responsibility to the new partnership is to support the effort by helping remove organizational barriers to performance. Middle managers, like many others, must see the employees and supervisors as primary customers† (Milinski, 1998). Organization and Union Strategies for a Conducive, Working Relationship Organization Strategies/Actions: 1. Behav e in ways that demonstrate their respect for the institution of organized labor and their respect for the legitimate role union leaders play within both the union and management organizations. 2. Show concern for the issues that are important to the union.For example, the source of power and income for unions is its membership. 3. Stop seeing the contract as the union's contract. 4. Maintain communication about all business issues Union Strategies/Actions: 1. Publicly acknowledge the importance of effective management. 2. Accept and help their members understand that companies employee people in order to get specific work done in order for the company to success and that employment is not an entitlement and that businesses are not social welfare organizations. 3. Convince the union membership of the need for change and the need for cooperation.The commitment of management and unions to implementing the above strategies will enable the development of an effective partnership. Conclus ion My review of the roles of management and unions has assisted me in concluding that management and unions can form an effective partnership. In a unionized organization, management’s role is to secure resources needed to ensure that the organization reaches its goal. This includes the hiring of a qualified labor force. The role of a union is to ensure that the organization provide its labor force with appropriate wages, benefits, safe work environment, accessible training, and skills development. If management and unions would be more respectful of their roles and positions in helping an organization to maintain success, a lasting relationship can be developed which will benefit all involved.ReferencesBateman, T. S. , ; Snell, S. A. (2007). Management: Leading and collaborating in a competitive world. McGraw-Hill Cohen-Rosenthal, Edward, ; Alfandre, Catherine. (1995). Creative union-management relations. The Journal for Quality and Participation, 18(3), 16. Retrieved March 20, 2011, from ABI/INFORM Global. (Document ID: 6682141). Encyclopedia. com. (2011). Trade Unions.Retrieved on March 14, 2011 from http://www. encyclopedia. com/topic/Trade_Unions. aspx M Scott Milinski. (1998). Obstacles to sustaining a labor-management partnership: A management perspective. Public Personnel Management, 27(1), 11-21. Retrieved March 20, 2011, from ABI/INFORM Global. (Document ID: 28486826). McNamara, C. (n. d. ). Free Management Library: All About Management. Retrieve on March 14, 2011 from http://www. managementhelp. org/mgmnt/skills. htm#anchor165831. OrganizationLabor. com. (2008). Trade Unions. Retrieved on March 15, 2011 from http://www. organizationlabor. com/

Money: Bank and Funds

â€Å"Money† is a fascinating object. The process of creating money and using money has always generated enthusiasm amongst mankind for over thousands of years. The main reasons for such enthusiasm are built around the dynamics of the above process. Even more fascinating is the fact, that this process is perhaps the only subject that is foxing both the pundits and the commoners alike. Such being the importance of money, any narration regarding the process shall always provide enough excitement. Keeping this in view, the role and importance of financial intermediaries is being featured for the benefit of readers. A glimpse of this coverage is provided in the following pages to lead them to a wider canvas. Financial Intermediaries Financial intermediaries play a vital role in building economies. World over, in different economies it is typical to find that the sources of funds and the uses of funds are not one and the same. This process is also so complexly structured that while individual contributions comprise the major source of funds to the market, the utilization of funds is done by different sectors in the economy. Capital formation comprising of Savings and Investment holds the key to this process. In this causal sequence, Savings play the role of the initiator. The ability of an economy to generate savings depends on the combined abilities of the general public and the government. It is here that the financial system comes into play by converting the savings into productive results. Significance of Financial Intermediation The savings process is facilitated by the financial Intermediaries. In simple terms, financial intermediaries perform the function of facilitating supply of funds to the user of funds, by obtaining the same from the depositors or savers of funds. The term ‘financial intermediaries’ includes different institutions like Banks, Insurance companies, Investment companies, Developmental Financial Institutions, Non-banking Finance Companies, Mutual funds, Pension funds etc. While the role of above institutions is singular with respect to financial intermediation, the functions that are performed by each one of them are different. In a nutshell, these types of intermediation revolve around liquidity position of funds, risks in loans, and pooling of risks to take advantage of economies of scale. To sum up, the function of financial intermediation has arisen out of the need on the part of savers to reach the investors and the inability of investors to find savers. Developed economic systems may not require the need of full-fledged financial intermediaries, unlike the developing systems. This is due to the fact that the gap between the saver and the investor is absolutely minimal. This is referred to as â€Å"financial disintermediation†. The process of financial disintermediation is best achieved by reducing the cost of funds thereby facilitating direct capital formation, which spurs economic growth. The greatest advantage in this process is the fact that it reduces the time gap between saving of money and utilization. The process of financial intermediation is always fraught with risks. Risks both for the givers of funds and the takers of funds, besides the risks for financial intermediaries themselves. The risk factor arises in the first place out of the need for the availability of information and in the second place the need for players to be aware of the available information. Consequently, the need for regulations and the role for a regulator are felt. Financial Intermediation in Indian context In India, without exception, a single type of intermediary does not perform the task of financial intermediation. Different types of financial intermediaries exist and their functions are discussed below. Banks: Banks comprise the oldest form of financial intermediaries in India. The Indian financial scene is dotted with a number of banking institutions. All these banks are segregated into various categories. This segregation has been done on the basis of their incorporation and the businesses performed by them. Consequently, we have various kinds of banking institutions. These are: i. Commercial banks, ii. Regional Rural Banks, iii. Local Area Banks, iv. Co-operative banks. The above classification suggests that banks have been divided under various types depending on the need to achieve the different economic objectives. While making the above classification, geographical factors, need for sectoral deployment of funds involving allocation of funds for Agriculture, Industry, and Service sector etc. have been taken into consideration. However, gradually, the needs of industrial sector have become so huge and complex that separate institutions have been set up for farming the industrial sector. Development Financial Institutions (DFIs): Deployment of funds in the Industrial sector is a major challenge. Industry’s requirements vary depending upon their short-term and long-term needs. The activities of short-term lending and long-term lending are separate and specialized functions. After understanding this finer aspect, the Government of India took initiative to set up specialized institutions for this purpose. For this reason, we find that most of the DFIs – such as the Industrial Development Bank of India (IDBI), are statutorily formed. These institutions provide finances for most of the greenfield projects in the Indian economy and have made a significant contribution by way of financing long –term projects. It is significant to note here that DFIs have been influenced by the changes in the Indian banking scenario to such an extent that these institutions are conlemplating to become universal banks. Insurance Companies: The path of reformation in the Banking industry has also caught up with the other intermediaries as well. In this respect, Insurance industry is witnessing path-breaking changes. In fact, in many countries Insurance companies perform a leading role as financial intermediaries. In India, Life Insurance Corporation of India (LIC) continues to play a very vital role in mobilizing savings and delivering Insurance, though the industry is experiencing the competition from players both Indian and Foreign. With the entry of banks into the arena of insurance business it is interesting to find the beneficial impact of convergence of banking and insurance business. Non-Banking Finance Companies (NBFC): The process of Intermediation virtually begins at home, with the household sector. This sector is the basic source of funds for the intermediaries. Such being the important role of the households, NBFCs as independent institutions, have come into existence to meet their financial requirements. The services offered by the NBFCs cater to the whole gamut of needs of the household sector in particular and savers in general. * Emerging Disintermediation in India** With a rapid growth in the intermediation process, the need for financial disintermediation at some stage cannot be overlooked. Realizing fully well that developed systems find lesser need for financial intermediation, in the Indian context the policy reforms aimed at encouraging free market institutions have been moving the financial markets towards disintermediation. The onset of the process of economic liberalization in 1991 has brought about a sea change in the financial markets. The abolition of the office of Controller of Capital Issues (CCI) and the establishment of Securities and Exchange Board of India (SEBI) in 1992 was done essentially with a view to giving an impetus to the capital markets. The market happenings in 1992-94, did strike a hard blow to this mechanism. During the past three years the process of consolidation has begun. Though a reduction in the number of IPOs does suggest to a slackening of the Capital markets, there is also a brighter side of investors becoming more suave. Sources of Funds A discussion on financial intermediaries has to begin with the ‘raw material’ for this activity, i. e. funds. Financial intermediaries are required to raise funds in order to fulfill the needs of both fund-based and non fund-based activities. Considering the various sources and choices available, the financial intermediary considers the following variables in deciding about the ways and means of raising funds. These are: Maturity, Cost of funds, Tax implications, Regulatory framework and Market conditions. Maturity is vital since the intermediary has to plan for the repayment of debt. Since investors look for returns as against the intermediary looking for good spread and income, Cost of funds turns out to be crucial. Tax treatment on returns on some of the instruments could be different – with certain exemptions Thus, Tax implications are useful for tax planning for both the intermediary and the saver. The instruments have to fulfill a plethora of rules and regulations which require the knowledge of Regulatory framework. For designing a particular type of instrument knowledge of Market conditions is essential. Different Sources of Funds In addition to providing low-cost funds, the shareholder route is a popular and easy way for the common public to become ‘owners’ of companies. As the name suggests, the money belongs to the shareholders. Financial institutions have been innovating different methods for raising money from the prospective shareholders. ‘Reserves’ is another source of funds. Incidentally, it is to be known that some of the Reserves are created statutorily. Borrowing by a company is another source of funds for the company, which are repayable with interest. Unlike equity, the funds raised by way of loans are to be repaid. ** **Sources of Funds unique to a Bank The previous classification of sources of funds does not fully explain the avenues for Banks. By virtue of being one of the earliest financial intermediaries, and possibly the most prudent as well, banks have a privileged access to a few more instruments. Considering the fact that different types of financial intermediaries have accessibility to varied types of funds at different rates of interest, it has become necessary for the RBI to lay down norms in this regard. Financial Intermediaries look towards liquidity in the market for enhancing their scope of operations. However, liquidity is a double-edged knife. Excess liquidity or lack of liquidity affects the financial system resulting in either a reduction or an increase in the rate of interest. The cyclical effect is felt by the economy. For controlling liquidity levels in the economy, RBI exercises control through the mechanisms of CRR and SLR. CRR is the reserve to be maintained by banks with the RBI. SLR is the reserve that is maintained by banks for investment in cash, gold or unencumbered approved securities. Deposits The customers’ confidence level reflects the strength of a bank. There is no better way of reflecting the same by any other indicator than Deposits. In the wake of globalization, the avenues for banks for raising funds in the capital market have increased, both in the national and international markets. In terms of value to the Banking system, banks that have a greater deposit base have more value than the banks with a poor deposit base. Banks accept deposits in different ways. Such acceptance could be different in terms of the period, amount, rate of interest and the type of depositor. All the deposit accounts could be classified under Transaction accounts and Non-transaction accounts. The types of accounts that a customer – individually, jointly or corporate can have, are varied. Having said that Deposits are an important source of funds for the banks, a banker is wary about the types of deposits. A term deposit is a dependable source, but the cost is higher than Demand deposits that are low cost funds for the banks. Consequently, the composition of deposits has a direct impact on the profitability of the bank. Application of Funds The real challenge for the financial intermediaries begins at the very end of the first stage i. e. after mobilization of deposits. The meter virtually starts ticking from that time onwards since the deposits are to be repaid by the bank to the customer after a certain period with interest. In order to honor this commitment, financial intermediaries use their funds in different ways. Broadly, the purposes under which they are used can be classified under: i. loans and advances, ii. investments, iii. fixed assets. Loans â€Å"Loan† is a distinct activity wherein funds are taken from the saver and given to the investor. By nationalizing major banks in 1969 and 1980 Government of India sought to direct the utilization of bank funds for socially disired, objectives reflected in priority sector lending. Priority sector lending includes Agriculture and Small Scale Industry as focus areas that would promote equitable development of regions and promote employment avenues. Loans can be classified as secured loans and unsecured loans based on the availability of security or otherwise. Investments The best way to earn attractive return on money is by following an Investment strategy. Since banks have to service their borrowings and deposits at a reasonably good rate and put the funds into more profitable use, Investments in securities offer an option, though in many instances, this is a statutory requirement. There are three main reasons for the Banks to invest in government securities. These are: (i) in case need arises; government securities meet the liquidity requirements of a bank; (ii) it forms a second line of security, for emergency borrowing from RBI, and (iii) for meeting statutory SLR requirements, aimed at protecting the interests of depositor. Banks are also selectively restricted from investing in equity shares. Investments are made in equity shares either through primary issue or by secondary market. Investment initiatives in equity by banks are expected to boost a sagging capital market. Apart from the primary functions of deposit collection and lending, banks also perform treasury operations. The necessity arises out of liquidity compulsions in operations. Banks invest in bonds and debentures as a part of their regular treasury operations and also on behalf of customers. Fixed assets however, constitute a very small amount of investment by banks. The Management of Financial institutions revolves around two basic functions: i. the ability of the intermediary to raise funds, and ii. to deploy them. These two activities determine the sustenance as well as profitability of the intermediaries. Lending Function Apart from the fact that Lending constitutes the major source of income for the bank, the process of lending also depends on the bankers’ appraisal skills. The banks’ funds can be applied in two major areas i. e. investments in securities and credit accommodation. In the process, banks essentially look to balance the ‘spreads’. Apart from the necessity of complying with the regulatory prescriptions, requirement of profitability virtually forces banks to develop an organized credit deployment mechanism. The credit policy of banks is determined by the demand and supply of loanable funds of banks. Firstly, on the demand side of the economy there are the consumers of goods and services. Secondly, the need for credit comes from the corporate sector in the manufacturing, trading and services sectors. Credit management is a specialized area. This is due to the fact that there are different types of credit, and each type of credit is characterized by certain unique factors. Loan is a broad term used to explain the different types of credit facilities – short/medium term extended in the credit market. The selection of the type of loan by a borrower depends on three factors namely, need for credit, cost factor, and cash flow requirements. Since a loan has a demand side and supply side as well, loans can be classified accordingly. Demand side loans will be individual loans while Supply side loans can be classified as commercial loans. As in the case of a borrower, for the bank, providing the loans depends on three factors, namely the nature of credit, the type of security and the purpose of loan. Based on these parameters, further classification of the banks’ advances is done. Loans are also further classified under secured and unsecured loans. Banks have been providing advances to different sectors of the economy and at the same time providing loans to the needy sectors. The sectoral classification of bank loans is made as under: i. priority sector, ii. public sector, iii. banking sector, and iv. others. Loan Appraisal and Disbursal Preliminary appraisal involves an analysis of the market, technology, financial, and managerial skills of borrowing. Once the bank decides to finance, other critical issues are the decisions relating to the mode of financing. Finance is given for land, site development, building, plant and machinery and also for working capital. Banks arrive at the amount of Maximum Permissible Bank Finance (MPBF) through various appraisal methods. **Non-fund Based Services* Non-fund based Services Non-fund based advances in the form of: Letters of Credit and Guarantees offer a very attractive proposition to the banker. Since funds disbursement arises only on default or the happening or non-happening of an event, bank holds only contingent liability. Payments and clearing operations Clearing and remittences constitute important services under ancillary services. The major role of a bank involves mobilizing savings and channelizing them into investments. Complementing these activities are ancillary services of the banks which facilitate the entire payment and settlement system of financial transactions

Employment relations Essay Example | Topics and Well Written Essays - 2250 words - 1

Employment relations - Essay Example Trade unions are institutions which are constituted for the welfare and protection of employees. Such unions are needed to first identify the major issues faced by the workers and then they should work to find remedies for those problems. Women and minority groups have demands for transformation of unions so that unions incorporate their current issues and raise voice for them. Trade unions or labor unions are special organizations formed by individuals that represent people at work to strengthen the protection of their existing rights, and to raise their voice against any uncivil act. It is also constituted as the union’s duty to protect and improve upon the payment and working conditions of the employees. In addition to that, the unions also campaign for laws and policies for the betterment of the working population. The ideology of union formation is basically rooted in the concept that an individual worker has very little power to influence decisions that are made about hi s or her job. Hence, in order to make the workers have more control of their working conditions, the unions attempt to join them all together so that there is more chance of them having a voice (Sofia-Roth, I. 2010, p.3). Labor unions are criticized in many aspects like the ineffectiveness of their existence, raising unnecessary aggression against employers, provoking employees for unjustified demands and so on. Research has been conducted about the usability of unions and their impacts in addition to checking out the argument that unions have outlived their existence. The global environment, the diversity in the workforce, decentralized structures, flattened organizations and increased employee autonomy suggest that unions are no more required. On the other hand, the cases of labor injustices and uncivil practices are still in practice. Employees still have to face the challenge of getting justifiable wages for their skill and effort, suitable working conditions and social benefits . Therefore, it can be easily assumed that labor unions are still required and are needed to play an effective role in setting up standards and regulations fro working class. Although the unions have not become obsolete altogether, yet they require transformation and modification in many ways. Due to globalization, technological advancements and diverse, multicultural workforce the role of unions should be improved and modified according to new requirements. They need to work on building their image as organizations supportive to both the employees and employers, rather than being taken as bodies with their main focus being on strikes and riots. Women and ethnic minority groups are always being discriminated and undervalued since their introduction into employee market. Even their introduction and entry into the workforce is an issue to be considered in this modern and civilized world. These issues require consideration from legislative bodies, labor rights institutions, social welf are groups, non governmental organizations and the most relevant institution that is ‘the union’. Unions need transformation to adjust and accommodate the needs of women and minority groups in an effective way. It can be done by taking into consideration all those issues which are currently being faced by the members of minority groups and then making policies and strategies to process these issues along with the general labor policies. Although the issue is been discussed and resolved in many ways until now, but its complexity suggests that it requires further consideration in various dimensions and by different institutions. To start with the unions, they must recruit the women and minority group members. It will give a moral support and deeper penetration into the problem to be solved. When the union involves such individuals, only then they can argue that they are working in the best interests of all the stakeholders. Furthermore, it will erase the unnecessary

Balancing Life and Responsibility Research Paper

Balancing Life and Responsibility - Research Paper Example The project involved operations in different locations. While operations within the office majorly required office work, field operations were more involving and subjected team members and their supervisor to adverse conditions such as cold weather and dust. It was therefore equitable to alternate team members between office and the field for a fair experience. My two project supervisors were therefore expected to alternate but one of them reported allergic reactions that could not allow her to work in the field under the then conditions. The other supervisor equally needed a break from the field as members of his team were accorded. This created a dilemma because while each of the supervisors’ needs was justified, I did not have extra personnel to supervise the field apart from the two. I therefore had the option of compelling the allergic supervisor to honor her contractual obligations and go to the field or to protect her life by compelling the other supervisor to work in t he field since that was still part of his contractual obligation (Badaracco, 1998). I applied a directive approach of situational leadership to resolve the dilemma (Blanchard, 2008). I balance my professional identity and personal identity by avoiding conflict of interest in my professional scope of work and avoiding personal attachments to involved processes. This is because personal identity involves personal traits with emotional attachments and a conflict with professional identity may undermine decision-making and compromise professional roles. I therefore ensure a balance between the two identities by being emotionally sober and ensuring that I identify organization’s interest and policies in every decision (Badaracco, 1998). Professional identity and personal identity are different in their scope of development and application. Personal identity is derived from social setups and experiences and majorly applies to family setups and informal

Frist assay in helth an safety management Essay

Frist assay in helth an safety management - Essay Example It includes both large scale civic surroundings i.e. places of work, as well as personal places such as homes. The phrase, today, has been widely known and used to illustrate the interdisciplinary field of study which seeks to address various aspects of man – made surrounding such as its design, management, and safety issues in relation to human activities. The construction industry has a disturbingly low safety mechanism as compared to the other industries where accidents which involves temporary access systems, fitting of defective components, unauthorized modification of structures, omission of barriers as well as other more common factors arising on account of management failure such as failure to control and prevent risk, unsafe methods and practices, and inadequate training and supervision account for a large proportion of injuries in the construction industry worldwide1. Although the construction industry has been widely appreciated for making major contributions in accelerating development across the globe, its image has been tarnished by the number of accidents and health hazards that occur on an almost regular basis on the sites. This research paper deals with the various aspects involved in the workplace safety management practices with regard to the construction industry. It analyses and discusses the contemporary issues, current trends and strategies that could be used to improve the working conditions and reduce the health hazards which are faced by construction workers. According to HSE approximately 2.2 million3 people work in Britain’s construction industry, which is incidentally considered to be one of the most dangerous places to work, making it one of the largest industries in the country. Statistics suggest that nearly 2800 people have died as a result of accidents on construction sites in the past 25 years4. Most of the accidents occurring on