Online Shopping Developing Countries - 1017 Words

The internet phenomenon has significantly evolved particularly in developed countries. This has transformed how retailers and buyers meet at the market place through physical and online purchases, distribution of products and services(Bashir, 2013). Although deemed to be a familiar channel for success and growth in developed countries, online shopping is still considered an innovation in developing countries like Tanzania (Mlelwa, 2015; Zaied, 2012) According to Katawetawaraks Wang(2011) online shopping has facilitated the presence of many foreign companies looking to boost their brand visibility . Locally, buyers have easy access on information and products that may not be physically available in their home countries(Oreku, Mtenzi, Ali, 2013).Unlike conventional stores, online shops are open 24 hours a day throughout the year(Gong, Stump, Maddox, 2013). Moreover, consumers from the comfort of their homes can log in at any time throughout the world and buy products and services at their convenience. On the other hand, online retailers who do not have physical presence can gain local and international exposure whilst reducing transactional costs(Laohapensang, 2009). Over the last few years Tanzania has seen a steady rise of internet users who are showing growing interest in online shopping (Mlelwa, 2015). The Tanzania government has made tremendous effort in facilitating the electronic environment through forming the National ICT Broadband Backbone (NICTBB).Show MoreRelatedOnline Shopping Habits1389 Words   |  6 Pages REVIEW OF LITERATURE ONLINE SHOPPING Online shopping or online retailing is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser. Alternative names are: e-shop, e-store, Internet shop, web-shop, web-store, online store, and virtual store. An online shop evokes the physical analogy of buying products or services at a bricks-and-mortar retailer or shopping center; the process is calledRead MoreElectronic Commerce ( Ec )1031 Words   |  5 Pagesway to their customer to purchase products online. Online buying is the process of selling and buying goods or services by using computer via internet. Since the development of www (World Wide Web), vendors have looked for a way to sell their goods and products to people who like to spend time on the internet. Shoppers can visit web stores from their houses and shop while they are sitting in front of their computer or laptop. Internet and online shopping has the ability to provide a lot of typesRead MoreAlibaba Case Study737 Words   |  3 PagesAlibaba, it is the differences then other online company such as, Amazons, eBay, Google, Walmart, Costco, and Sears, so that it shows how the Chinese company has developed and get bigger. Alibaba provides availability of Chinese products to the world. Alibaba has increased to cover Chinese desires, including companies extending from an old-style online marketplace and online investment service opportunities. Additionally, Alibaba offers an excellent shopping experience to Chinese customers w ith lowRead MorePower of E-Commerce over Traditional Mall Shopping1219 Words   |  5 PagesTRADITIONAL MALL SHOPPING i. Most people with different ages can easily browse the internet for several reasons; however, the online shopping considered being one of the most amazing motives. Internet revolution and growing of online marketing shifted most of consumers’ preferences to rely on online shopping instead of the usual traditional mall shopping especially when it comes to convenience, easiness, and globalization. ii. Convenience a. Convenience is the key motivation for most online shoppersRead MoreE Commerce And The Electronic Shopping Industry1108 Words   |  5 Pagesthe electronic shopping and mail-order houses industry as transactions between this business and consumers would require the use of information technology such as a computer network or through a phone network. The goods purchased would need to be delivered by mail or courier that were retailed through catalogue showrooms on the internet. Our business will specifically be providing groceries through the internet on a website. Attractive characteristics of the electronic shopping industry: E-CommerceRead MoreOnline Purchases from IKEA, Gome, and Parkson666 Words   |  3 PagesAccording to the latest trend, the online purchase is putting pressure on retail stores to go online to increase their sales and revenue. To gain more customers retailers are showing importance to optimizing a mix of online and offline tactics. Researches have shown that people tend to look online before purchasing any products. Moreover, a company’s websites and email generate business for both online channels and offline stores. To keep up with the new ‘hype’ traditional brands are modifying theirRead MoreMission, Vision And Values Essay1606 Words   |  7 PagesMission, vision and values Amazon’s vision statement is â€Å"To be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online.† (Lawrence). This vision statement underscores the organization s position as the world s best e-commerce company of the main objectives. Amazon s vision statement emphasizes the following components or features: global wide, customer priorities, and the widest selection of products. The â€Å"Global Wide† component of AmazonRead MoreStrategic Management and Planning788 Words   |  4 Pagesjewelry* 7. Is BN â€Å"stuck in the Middle† APA 3-5 pages at least 4 references Blue Nile, Inc. is considered the world’s largest online retailer of diamonds. Founded in Nineteen-ninety nine, the Blue Nile offers gold, platinum, pearl and silver jewelry. The company’s headquarters is located in Seattle, Washington and operates in over twenty five countries, with products offered through their United States, Canada and United Kingdom websites. As of January 2012, the Blue Nile employed twoRead MoreThe Internet And Its Impact On The World Of Commerce1249 Words   |  5 Pagestravel to a store. Today, shopping on the internet is commonplace, but less than 20 years ago companies would hire technicians to teach them how to use the scroll bar and other simple functions. Once enough people knew how to use the internet, the idea of selling products online came into fruition. Many people believed they could make a large sum of money quickly by starting a business online. Before this time the internet was too complicated to use for most people. Online sh opping and retail have revolutionizedRead MoreBarriers Of Transactional Trust1365 Words   |  6 Pagese-Commerce adoption. Developing countries are reputed for their high level of illiteracy. Uneducated people tend to be computer illiterate, have limited access to formal information channels and to the internet. Additionally, the information on the web is often presented in a language that requires a certain level of education. 8.5.3 Socioeconomic Barriers Economic Condition According to Lawrence Tar (2010), the unfavorable economic conditions in developing countries is widely recognized

War Crimes Committed in World War II - 739 Words

During world war two, countries on both sides committed war crimes that shocked both the people involved, and the globe. From 1937 through to 1945, the Japanese justified their treatment of the Australian prisoners of war at the Burma railway with three things. The Japanese believed that their bushido code allowed them to treat the Australian this way, their ethics was one of complete brutality and hardship, and the Japanese soldiers were being fed false propaganda that showed a dehumanized view of the Australians. These three statements demonstrate that the Japanese atrocities committed at Burma, were, in the eyes of the Japanese, fair and just. The Japanese brutality was heavily influenced by bushido, a historic code of honour and morals that dictates how you act and live. The Japanese treated the Australian soldiers the way they did because their code tells them that those who surrender are weak and do not deserve your thoughts, and it is considered an unspeakable disgrace. Although the Japanese Imperial military committed to follow the samurai code of bushido after the restoration of the emperor in 1868, the code that they followed was a falsification of bushido. For the Japanese soldiers, bushido meant giving their life to the emperor; surrender was shameful; those who surrendered were thought of as dead; and sympathy for the defeated was weakness. No sympathy for the defeated was definitely not a part of the traditional bushido, the one practised by the samurai. ThisShow MoreRelatedA war crime is an unjust act of violence in which a military personnel violates the laws and1100 Words   |  5 PagesA war crime is an unj ust act of violence in which a military personnel violates the laws and acceptable behaviors of a war. Despite all the violence in a war, a soldier shooting another is not considered a war crime because it is not a violation to the laws and practices of a war, and it is considered just. A war crime is defined as a â€Å"violations [violation] of the laws and customs of war† (â€Å"War Crimes†), and are attacks â€Å"against civilian populations, prisoners of war, or in some cases enemy soldiersRead More How Japan Committed Crimes Against Humanity in Pursuit of Self-Interest1239 Words   |  5 Pagesduring the World War II. From 1937 to 1945, Japan started a series of wars, and resulted in millions of casualties along the way. Japanese battlefield consists of three parts: China, Pacific and Southeastern Asia. Japanese started these wars because they wanted to gain resources and war advantages for their own country. Japan committed crimes against humanity during their wars, which means they neglected human dignity and degraded human value by humiliation. During the Sino-Japanese War, the PearlRead MoreNanking Massacre Essay example876 Words   |  4 PagesNanking Massacre 1. The Japanese invasion of China immediately before and during World War II lasted from the early 1930s to 1945. During this dark period in modern Asian history, the Japanese military machine was motivated by an uncontrollable desire for aggression, expansion and imperialism. The brutalities and atrocities committed by the Japanese military in China and elsewhere in Asia finally ended with destruction on Japanese soil -- the atomic bombing of Hiroshima and Nagasaki in AugustRead MoreEssay about World War II1105 Words   |  5 PagesWorld War II During World War II, Nazi commanding officers, and soldiers under their command, carried out crimes against humanity in order to please their commanding officers or out of fear of what may become of the, if they did not comply with their orders. What could have been going through the minds of Nazi officers and soldiers while they were carrying out the orders they had received to almost wipe out an entire race of people? The Nazi criminals were brought to justice in what wasRead MoreDid The United State Commit War Crimes Against Japan During WW II?865 Words   |  4 Pagesquestion, to what extent did the United States of America commit war crimes against Japanese civilians and POWs during their Pacific campaign in World War II? This question is important because it raises present day controversy that the United States did not commit war crimes, when evidence may prove otherwise. The scope of this investigation focuses on the United States entry into World War II and the events during the war, specifically the war with Japan in the Pacific during 7 December 1941 – 2 SeptemberRead MorePersuasive Essay On The Atomic Bomb1602 Words   |  7 Pagesthe end of the Second World War. The dropping of the bombs led to over 150,000 civilian and military deaths. Despite the massive loss of innocent life, I believe that the United States made the correct decision to use atomic weapons against Imperial Ja pan. World War II was the deadliest conflict in human history. At its conclusion, over seventy million people had lost their lives. Humans around the world still experience the political, geographic, and economic effects of the war. Needless to say, theRead MoreInternational Laws Should Allow Bounty Hunters1137 Words   |  5 Pagesthat torture prisoners of war beyond the legal limits set by international law or kill civilians are war criminals. One of the problems that concern political leaders around the world is the development of a process to capture and try a war criminal that is legally agreeable and affordable (Marvasti). Some countries refuse to participate with the International Criminal Court and tend to hide war criminals (Kramer). Furthermore, there are countries that are sympathetic to war criminals and grant themRead MoreThe Nazis And The Nazi Past1442 Words   |  6 PagesThe Nazis left a lasting legacy that is still felt around the world today. The Nazi past weighs most heavily on Germany and its citizens who still grapple today with what the Nazis mean to their identity. This struggle was much different in the years immediately following World War II and the subsequent creation of divided Germany than today. In the German Democratic Republic (East Germany), the Nazi past was completely ignored. Instead focused on the West as the enemy. In the Federal Republic ofRead MoreThe Atrocities of World War II1111 Words   |  5 Pagesatrocity of World War II was the Holocaust, but the real truth hides much deeper within. There were thousands of atrocities that occurred leading up to the war, within the years of World War II, and after the war. Many were unrecognized and undocumented and the stories of the dead still remain unknown. My purpose here is to tell the story of the men, women, and children that no one remember, or never even knew existed. The Holocaust was perhaps the most dramatic and well known atrocity of World War II becauseRead More International Charter Of Human Essay example980 Words   |  4 Pages International Declaration of Human Rights and Freedoms History nbsp;nbsp;nbsp;nbsp;nbsp;After the war crimes committed by the Germans in the holocaust that occurred during World War II, the United nations decided to create a document guaranteeing respect for human rights and fundamental freedoms for all people, regardless of race, sex, language, or religion. This document was called The Universal Declaration of Human Rights. nbsp;nbsp;nbsp;nbsp;nbsp;The declaration was voted in on December

Fetal Deformities and Mental Condition Case Study

Question: Case Study: Fetal Abnormality Jessica is a 30-year-old immigrant from Mexico City. She and her husband Marco have been in the U.S. for the last 3 years and have finally earned enough money to move out of their Aunt Marias home and into an apartment of their own. They are both hard workers. Jessica works 50 hours a week at a local restaurant, and Marco has been contracting side jobs in construction. Six months before their move to an apartment, Jessica finds out she is pregnant. Four months later, Jessica and Marco arrive at the county hospital, a large, public, nonteaching hospital. A preliminary ultrasound indicates a possible abnormality with the fetus. Further scans are conducted and it is determined that the fetus has a rare condition in which it has not developed any arms, and will not likely develop them. There is also a 25% chance that the fetus may have Down syndrome. Dr. Wilson, the primary attending physician is seeing Jessica for the first time, since she and Marco did not receive earlier prenatal care over concerns about finances. Marco insists that Dr. Wilson refrain from telling Jessica the scan results, assuring him that he will tell his wife himself when she is emotionally ready for the news. While Marco and Dr. Wilson are talking in another room, Aunt Maria walks into the room with a distressed look on her face. She can tell that something is wrong and inquires of Dr. Wilson. After hearing of the diagnosis, she walks out of the room wailing loudly and praying out loud. Marco and Dr. Wilson continue their discussion, and Dr. Wilson insists that he has an obligation to Jessica as his patient and that she has a right to know the diagnosis of the fetus. He furthermore is intent on discussing all relevant factors and options regarding the next step, including abortion. Marco insists on taking some time to think of how to break the news to Jessica, but Dr. Wilson, frustrated with the direction of the conversation, informs the husband that such a choice is not his to make. Dr. Wilson proceeds back across the hall, where he walks in on Aunt Maria awkwardly praying with Jessica and phoning the priest. At that point, Dr. Wilson gently but briefly informs Jessica of the diagnosis, and lays out the option for abortion as a responsible medical alternative, given the quality of life such a child would have. Jessica looks at him and struggles to hold back her tears. Jessica is torn between her hopes of a better socioeconomic position and increased independence, along with her conviction that all life is sacred. Marco will support Jessica in whatever decision she makes, but is finding it difficult to not view the pregnancy and the prospects of a disabled child as a burden and a barrier to their economic security and plans. Dr. Wilson lays out all of the options but clearly makes his view known that abortion is scientifically and medically a wise choice in this situation. Aunt Maria pleads with Jessica to follow through with the pregnancy and allow what God intends to take place, and urges Jessica to think of her responsibility as a mother. Which theory or theories are being used by Jessica, Marco, Maria, and Dr. Wilson to determine the moral status of the fetus? Explain. How does the theory determine or influence each of their recommendation for action? What theory do you agree with? How would the theory determine or influence the recommendation for action? Answer: Theories of willpower: The theories which have been followed for determining the moral status of the fetus are mainly decisional conflict theory, anxiety theory and process coping theory (Griffith, 2004). Doctor became anxious when father of the fetus not responding. Father conflicts with doctors decision and also aunt do the same. Mother tries to cope up with the situation but mentally became weak. The situation not favors the birth of the fetus. Proposal of Action: Every human being have there own proposals for any condition. In this condition doctor, parents of the fetus and aunt of the parents also think in different ways. The main reason for thinking differently is the emotional attachment part. Doctor in this case try to help the parents after knowing the economic condition and health status of the fetus and he become anxious because the aim of the doctor is to give the mother an idea about the condition of the fetus. The father of the fetus trying to kept the information of deformity because he thinks that this news will affect the mental as well as physiological condition of his mother. Aunt try to pray in front of god because she thinks god will help to modify the condition. And ultimately mother was not able to decide anything and try to cope up from the situation. So the situations are defining the causes of the action. Doctor become anxious, father maintain the conflict to take decision as well as mother also try to do this and mother also follow the cope up theory. Aunt try to follow cope up theory by praying in front of god. Conclusion of the theories: The situation is very tough for every human being. We should know that the doctor diagnosed the problem and worried on the situation. Doctor also told that the fetus may be having Down syndrome. This is a genetic disorder and this leads from one generation to other generation. Also the life of the fetus is not so easy and he should go through proper medication and this is a cost effecting procedure. Decisional conflict is common in case of this kind of matter. The father should realize the matter and follow the instruction of the doctor. Patience of the doctor is also very important so the anxiety is not admirable in this case (Isaacs, 2003). The process of cop up with this situation is the only suitable theory or model. The awareness of the parents should increase about the disease but abortion is also a very tough procedure for a mother. Everybody should realize the condition and they should agree with the doctor that the economic condition is not good and with these difficulties g ive birth to a child with deformities is very tough. Also the child has his own identity and to abort a child is not so easy to accept for a mother that is why mental maturity with ethical views needed and cope up process with overall situation is very important. References Griffith, S. (2004). The Moral Status of a Human Fetus: A Response to Lee.Christian Bioethics,10(1), 55-62. doi:10.1080/13803600490489898 Isaacs, D. (2003). Moral status of the fetus: Fetal rights or maternal autonomy?.J Paediatr Child Health,39(1), 58-59. doi:10.1046/j.1440-1754.2003.00088.x

To Kill A Mocking Bird Essays (885 words) - To Kill A Mockingbird

To Kill A Mocking Bird To Kill A Mocking Bird To Kill A Mocking Bird deals with many primal and basic lessons in human nature. The book exposes many issues that affect most people throughout their lives. Scout, the main character was one of the most affected by these lessons. During the book she was exposed to many profound experiences, which no doubt will leave a lasting impression. In the three years that the book took place, she may have learned the most important things she will learn over her entire life. One person that affected Scouts life was Boo Radley. He brought wonder, fear and then finally relief to her heart. At first kids thought he was evil. There were rumours that while he cut out the newspaper for his scrap book he "drove the scissors into his parent's leg."(pg11) He had tried to kill them. Even though this may have been just a rumor the kids were terrified of the Radleys. They described him often as a monster "six-and-a-half feet tall" with "bloodstained" hands. He was said to eat "raw squirrels and any cats he could catch".(pg12) During the rest of the book Scout and companions tried to meet Arthur (Boo) and get over their fear of him. They did not succeed. But he showed affection for them by leaving them gifts in a tree. Finally at the end of the book he proves he is a good person by saving Scout and Jem's lives. In this instance Scout may have found that to negatively prejudge someone is wrong. She also learned compassion. Scout also learnt about the ugliness of life. About death and pain. This lesson occurred while her brother had to read to a sick and dieing old lady. This lady's name was Mrs. Dubose. She had been a morphine addict and had decided to go clean till her death. To die as a free women, to die knowing she had won. Scout describes her as a ugly lady and during their reading sessions she would have some kind of spasm-fits. Her head moved side to side. She would drool. "Her mouth seemed to have a private existence of it's own." (pg.107) After many reading sessions with her having a fit each time, she died one day. Probably the most important person in Scout's life was the one who had set the best examples for her. This was Atticus. He taught Scout how to deal with people. One of his teachings was to be the bigger person. When Bob Ewell spit in Atticus's face and threatened his life, he did nothing and walked away. All he had to say later was,"I wish Bob Ewell wouldn't chew tobacco."(pg.217) Atticus reacts with his brain not emotions. He encourages Scout to do the same. Another trait that he teaches is respect. Respect for people who are different. People such as Boo Radley. The kids had been acting out a play which involved Boo's scissor incident. They also tried to give a letter to him, so that he would come out to meet them. Atticus found out about both incidents. They were put in their place and told to, "stop tormenting that man." He then told them that, "what Mr.Radley did was his own business."(pg.49) Atticus also commanded respect for black people. He once told Jem that if a white man cheats a black man, "no matter who he is, how rich he is, or how fine a family he comes from, that man is trash."(pg.220) At the trial he also explained that there are bad and good black men as there are good and bad white men.(pg.204) Two more models that helped Scout out. The first was a valuable example set by Atticus. He had been told to defend Tom Robinson. The case was a lost cause because he was beat before he began, and it would bring hardship to himself and his family. He knew this, but did not give up. It was the right thing to do. As he told his brother, "do you think I could face my children otherwise"(pg.88) Scout heard this conversation and understood it in later years. Again teaching this gives her a valuable example; Stick to what you believe in. A lesson in effort and commitment was also demonstrated by Mrs. Dubose. After finding out that she would soon die, she decided to kick the morphine. This was a very hard thing for her or for that matter anyone to do. "She was the bravest person I knew." said Atticus. He also again repeated that

How to Answer Awkward Questions from Your Family on Thanksgiving

How to Answer Awkward Questions from Your Family on Thanksgiving At last! That much needed Thanksgiving vacation is just around the corner. This means your moms home-cooked meals, seeing all your family and †¦ answering those annoying questions your relatives love to ask. Dont be surprised that your family will ask highly personal questions about your relationship, college life and future plans. â€Å"When are you getting married?† â€Å"How are your grades?† â€Å"How is the weight loss going?† And thats just the beginning Your grandparents, aunts and uncles will ask about sensitive topics and you should be prepared to answer politely, in a humorous or even a bit sarcastic way. After all, this is a holiday and you dont want to fight with your family. Here is some advice on how to cope with awkward questions youre going to face. 1. Are You Dating Anyone? Almost everyone around the table will want to hear the answer. Your relatives are worried that you might be lonely, they think that it is not OK if a young person like you isnt in a relationship. Remember, you shouldn’t be embarrassed either youre single or just dont want to tell your family about a new boyfriend/girlfriend to avoid further questioning. Answer #1: â€Å"Im focused on my classes and getting a great job after graduation, so I dont have time for dating.† This diplomatic response will persuade your family that you are serious about your education. Answer #2: â€Å"Im dating several people right now, just cant decide who I like more.† Some humor will defuse a situation. 2. When Will You Start a Family? Marriage? Kids? If this is not in your upcoming plans, better prepare a nice answer. Your parents look forward to organizing â€Å"a wedding of the year† and having grandchildren in the near future. Try not to upset them. Answer #1: â€Å"Im not sure that Im ready to take on a responsibility of having a family.† It may lead to a lecture about how a great person you are and that you can cope with all the duties. Answer #2: â€Å"Family? Are you kidding me? Im a child myself.† It may cause some shock, but your relatives wont ask about your personal life anymore. Answer #3: â€Å"We are thinking about it right now. Ill tell you more details later.† This answer will give some hope to your family, and probably they wont ask about it till the next Thanksgiving. 3. What Do You Plan to Do After Graduation? It is absolutely normal if you havent decided what you are going to do after college, and it is not necessary to tell your family about that. However, if you want to hear a piece of advice, just ask. No doubt, your relatives want to teach you how to live. Answer #1: â€Å"Im going to †¦ (tell about your real plans).† Answer #2: â€Å"Im considering a few options: volunteer in a Buddhist Monastery in Nepal, catch fish in Alaska or (insert other crazy options). Which one do you like better?† 4. When Can We Come Visit You? Never! Never! Never! Surely, you dont want your parents to talk your my roommates or listen to what you should change in your apartments. Answer #1: â€Å"Let me think about it. I have a very busy schedule. Ill tell you when I have some free time.† And then you can always tell your parents how busy you are at college. Answer #2: â€Å"Visit me? Why? No, Ill come home more often.† 5. Why Dont You Eat Meat? Oh, again Because Im a vegetarian!.. Even if youve told your family that you dont eat meat for a hundred times, someone will ask you why youre refusing from that delicious turkey. Answer #1: â€Å"It is a personal choice and I hope that you can understand and support it.† It sounds like the answer of a grown-up, so your parents may be proud of you. Answer #2: â€Å"I dont eat tortured animals. Oh, let me show you one video and I suppose you also wont eat meat.† But be careful, your relatives might hate you after that. Meeting with relatives is fun until they start asking those awkward questions. However, with most families, it is inevitable. Just be prepared to hear these annoying questions and add some humor to your answers – it always saves the situation!

Alcohol Enzymes Market Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 2019 Essays

Alcohol Enzymes Market Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 2019 Essays Alcohol Enzymes Market Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 2019 Essay Alcohol Enzymes Market Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 2019 Essay Alcohol Enzymes Market Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 2019 Alcohol enzymes occur in various organisms which eases the inter conversion between aldehydes and alcohol with the reduction of nicotinamide adenine dinucleotide. They are significantly-selective catalysts that solve the purpose of inter conversion of complex molecules to smaller ones in different metabolic reactions. Different enzymes such as carbohydrases, proteases and lipases are used which are majorly consumed to manufacture biocatalysts, pharmaceuticals, bio-fuels, cleaning agents, and food beverages.Visit Complete Report Here: www.marketresearchreports.biz/analysis-details/alcohol-enzymes-market-global-industry-analysis-size-share-growth-trends-and-forecast-2013-2019 Alcohol enzymes form an important part of the global manufacturing industry and play a vital role in ensuring yield optimization as well as enhancing chemical processes. Moreover, due to growing population coupl ed with the rising disposable income has created a significant demand for consumer products such as cleaning agents, bio-fuels, and food beverages. The industry has also been witnessing positive growth due to specialty and industrial utilization of alcohol enzymes. Factors such as growing demand for cosmetics and rising awareness regarding healthcare have augmented the demand for pharmaceuticals in cosmetics and drugs. Other factors such as technological advancement in waste and energy saving logistics have also contributed to the growth of the alcohol enzymes market. However, regulations on the production of alcoholic beverages, brewing industry, and utilization of synthetic food ingredients are expected to slow down the growth of this market. North America is one of the largest consumers for alcohol enzymes, followed by Europe where the demand for these enzymes has increased in recent years owing to introduction of new drugs implemented in enzyme replacement

Ethics of Data-Driven Decision Making Case Study

Ethics of Data-Driven Decision Making - Case Study Example A series of analysis were given to the project manager concerning data on the cost profit and volume analysis. This is a well detailed collection of data that can help the management to decide whether to proceed with the project or reject it. Some case scenarios require the project manager not only to rely on analysis of data but also to rely on ethics of the society to enable effective decision making. This helps to ensure effective production of the vehicles as well as maintaining a good image in the public. A good example is the case of Giant motor company where they are considering retooling two of their three vehicle assembly plants. The project manager should not only rely on the relevant data providedbut on also other areas that many companies fail to assess like the safety of workers, whether the space is enough for the retooling process and so on. If for example the level of space is minimal after hypothetically retooling, this may cause accidents in terms of congestion of w orkers who may compromise safety of workers inside the plant (Streifer& George, Pp 32). Another case that ethical decisions can override data used for decision making is where the new luxury cars been made affect the environment. This can be seen through emissions of carbon monoxide by exhaust pipes. If the level of the gas produced is so intense that it is considered a threat hazard by the society, the management should take an ethical stand not to retool because of the consequences even though they are not going to realize the profits they had anticipated. This is referred to as moral sensitivity. Another area we come across ethics of data-driven decision-making is in case 4d of Muskoka land development. This case study is about a group of part time MBA students who are following an opportunity to invest in recreational properties in Muskoka Ontario. After undergoing research of the area, they come up with two sites that have potential to bring large returns in profit (Streifer& G eorge, Pp 56). They collect data on both areas and come up with a list of all the expenses and costs information based on development plans for each site. In this case, we can clearly say the students are about to make a decision on whether to go ahead with the project based on the data they extracted from their research. In this case, to some extent, it is not appropriate to rely on data to make decisions concerning investment of recreational properties especially in site A due to the following reasons-: Muskoka is fully equipped with Mother Nature’s best like lakes, forests and so on. If the students decide to invest in site A they will be messing up the balance of nature in that area. This is where ethical decision making comes in handy. In my opinion, the students should ask themselves if they are ruining nature if when developing their plans, they happen to cut down trees in the area which is a life source for many animals that live in that habitat. By destroying trees, to make roads in such an area may cause alternations in many animals’ lives, which may trigger different kinds of reactions. Another question would be if there are any small rural communities that live in that area? If there are, the students risk displacing a whole community so as to make profits and in the process causing a long string of problems between them and the community. This is unethical and is considered moral decay. The students should therefore consider developing in site

Online and Traditional Education Essay Example | Topics and Well Written Essays - 1250 words

Online and Traditional Education - Essay Example Today, people are living in an era that is characterized by convenience. Technology and time have provided individuals, who were previously incapable of gaining access to graduate or undergraduate degree programs because of family responsibilities and time restrictions. A program used to take more approximately four years for students to complete traditional colleges. Today, it is possible to complete the course in about two years based on the benefits affiliated with short durations in class. Nonetheless, this does not mean that online education for campus residents will go away. Since traditional classrooms provide opportunities for teachers and learners to interact in line with a plethora of other, vital benefits result from students pursuing traditional education. This means that there is still a need for traditional education. For instance, research has revealed that students that embark on one-on-one interaction with other students and their teachers tend to portray more balanc e academically compared to their online colleagues. This serves as one of the major reasons as to why employers still prefer those students with traditional college qualifications (Bird). Certain differences exist between traditional and online education. For instance, all students tend to adopt their learning processes differently. Hence, with the rapid advancing technology today, the question does not target taking classes online, but the ideal ways of implementing them, classrooms provide opportunities.

The Simulation Project Essay Example for Free

The Simulation Project Essay Multinational corporations face many challenges in their domestic and global environments. According to Ajami, Cool, Goddard, and Khambata â€Å"a multinational firm is one in which a certain percentage of the earnings, assets, sales, or personnell of a firm come from or are deployed in foreign locations† (Ajami, Cool, Goddard, Khambata, 2006, p. 6). According to this definition US Airways Group would be classified as a mulitnational firm. On Fortune 500’s Worst List, US Airways Group is identified as a least admired company on all eight attributes identified by the research and surveys performed by Hay Group (Best worst in, 2006). As the name implies US Airways Group operates in the Airline industry. This paper will discuss how government regulations, hard and soft technologies, some political-legal barriers, sociocultural factors and two economic theories that are faced by US Airways Group are affected by their domestic and global environments. It will also offer a strategy for US Airways Group to countinue its growth and success as an industry leader. As indicated from its name the domestic environment of this company is the United States and the global environment that will be used is Costa Rica. In the US the airline industry has two main agencies that write regulations that it has to obey. The Federal Aviation Administration (FAA) and the United States Department of Transportation (DOT) (Electronic Code of Federal Regulations, 2012). Although the airline industry was de-regulated in 1978 the DOT â€Å"retains the authority to alter or amend any airline’s certificate or to revoke such certificate for intentional failure to comply with the terms and conditions of the certificate† (10-K, 2012). The FAA is responsible for writing the regulations that relate to aircraft maintenance and operations, certification of pilots and flight crewmembers and air traffic and general operating rules (Electronic Code of Federal Regulations, 2012). Another other agency that establishes guidelines that the airline industry has to abide by is the Environmental Protection Agency (EPA). The EPA is responsible for â€Å"regulating operations, including air carrier operations, which affect the quality of air in the United States† (10-K, 2012). US Airways Group has to follow all the established regulations created by the FAA, DOT and EPA if it wants to remain in business in the United States. They have to keep up-to-date with the maintenance requirements and keep accurate records as established by the FAA and continue to have their aircraft inspected at regular intervals as prescribed by the FAA (Electronic Code of Federal Regulations, 2012). They must ensure they follow EPA guidelines regarding air quality, while continuing to meet the DOT requirements for operating at efficiency or risk having their certificates revoked to do business as well. In Costa Rica, the government is based on Roman law, which is very different from the US legal system (Doing Business in Costa Rica: 2012 Country Commercial Guide for U.S. Companies, 2012). The ways the laws are written is how they are applied and there is little to no room left for interpretation by anyone regarding the laws. Therefore the way that the government regulations that US Airways Group must follow are written are the way that they must be followed. The government has established travel guidelines that must be followed there, the most important being that: currently you are not permitted to enter Costa Rica unless you have a roundtrip ticket (Costa Rica, 2012). The easiest way for US Airways to avoid an issue regarding this regulation is to ensure that all travelers going to Costa Rica have a roundtrip ticket when they board the plane in their departure city, along with valid identification. â€Å"Hard technology includes the physical hardware, capital goods, blueprints and specifications, and knowledge necessary to use the hardware, while soft technology encompasses the management, marketing, financial organization, and administrative techniques that can be combined with the hard technology to serve the needs of the use† (Ajami, Cool, Goddard, Khambata, 2006, p. 358). Based on this definition some of US Airways hard technologies would be their aircraft (planes), hubs (airport locations) and even their flight crews. The planes that are currently in the fleet are manufactured by Boeing, Airbus and Embraer (US Airways Fleet, 2013) and some are equipped  with the â€Å"ACSS’s XS-950â„ ¢ Mode S Transponder† which allows for the transmission of information regarding the planes â€Å"position, speed and intent† (Press Releases, 2012). They have hubs in the four US cities and have established a partnership with Star Alliance (US Airways A Star Alliance Member, 2013), which gives them access to a hub at London’s Heathrow Airport as well. The flight crew has the knowledge to operate the aircraft as well operate the terminals efficiently within the hubs. It is the flight crew’s responsibility to ensure that the passengers are on board the plane on time and that the plane departs the gate on time. The soft technologies currently employed by US Airways includes their Nuance interactive voice response (IVR) system, which was one of their new marketing tools to help reduce customer frustrations (Interactive Case Study: US Airways, 2013), audits of customers’ airport experiences (Sunnucks, 2010), and training on the other new systems that have been implemented to help with customer satisfaction. Just as flight crews can be classified as hard technology the management staff of US Airways can be classified as soft technology because it is their responsibility to make sure that the customers are kept happy and that they use their administrative talents to keep the employees satisfied as well. If US Airways continues to educate, value and respect it employees, while using new technology to keep up-to-date with the rest of the industry and survey its customers for satisfaction their success will continue to improve. One of the political-legal barriers that US Airways Group will face in the US and Costa Rica the differences in the legal system as identified earlier. In the US the laws are interpreted and judges look at past cases to help decide how to rule on a current case, in Costa Rica judges look at the law the way it is written and make their rulings based on the way the law is written. If US Airways is not careful and does not fully understand the laws and how they are written in Costa Rica this could be detrimental to their operations there. In the US they not only have to comply with federal laws but state laws as well that have been established. Although both governments are classified as republics, the US has what the Central Intelligence Agency (CIA) refers to as a federal republic and Costa Rica has a democratic republic (The World Fact Book, 2012). In Costa Rica they promote a political environment based on inclusion. One of their political parties is Partido Accesibilidad Sin Exclusià ³n (PASE) which translated into English is Accessibility without Exclusion Party (Obando, 2013); however the US is not necessarily an inclusion-based society. The US does have laws regarding accessibility for individuals with disabilities and they are taken very seriously, Costa Rica is not as readily as accessible as one would think they would be based on their inclusion-based political system. For US Airways to continue to be successful in the US and Costa Rica concerning the political-legal environments within those countries they should remember the â€Å"history of close and friendly relations based on respect for democratic government, human freedoms, free trade, and other shared values† (World-Country Profiles; US Department of State Background Note, 2007), this falls in line with the concept of the classical theory of trade (Ajami, Cool, Goddard, Khambata, 2006, p. 48). Geert Hofstede developed his theory of the five dimensions of culture, based on information provided to him by IBM regarding employee values in their survey of more than 70 countries between 1967 and 1973 (National cultural dimensions, 2013). â€Å"The five dimensions of culture as theorized by Hofstede are: social orientation, power orientation, uncertainty orientation, goal orientation and time orientation† (Ajami, Cool, Goddard, Khambata, 2006, p. 213). The five dimensions are broken down into simple terms as: social orientation – reflects a person’s beliefs about the importance of the individual over the group for which they belong; power orientation – deals with how one views authority and power differences in a hierarchy; uncertantiy oreintation – refers to how one feels regarding change; goal orientation – deals with how one is motivated towards achieving goals and the fifth and final dimension time oreintation – refers to the how individuals in a culture adopt an outlook of long or short term regarding life, work and other issues (Ajami, Cool, Goddard, Khambata, 2006, p. 213-214). In regards to the sociocultural aspects related to these dimensions of culture as id entified by Hofstede there are many that are different as well as some that are similar for these two countries. One of the biggest differences between the two countries is their attidudes towards time. People in the US are all about time and money whereas people in Costa Rica want to take their time and really understand what is happening. The attitudes towards work and lesiure follow suit with the attitudes towards time. Many in the US do not  take vacation time off because things need to get done, whereas Costa Ricans are more concerend with spending time with their families and socializing with friends (Provasi, 2012). The attitudes regarding change, material things, and jobs are also at opposite ends of the spectrum. These things are important to most Americans and they look at these things as a way to build themselves up. Costa Rican’s on the other hand look at these things and will be just as comfortable with keeping things just they way they are. Aspects that are similar in the two countries are literacy rate and education mix. Both coutries hold these items in high regard and try to come up with ways to encourage the young people to stay in school and continue with their education and pursue higher education as well. Another item that is similar is their â€Å"open door† policy in the work place , managers are accessible at all levels and this makes it very familiar. The two economic theories that will be compared and contrasted are Walt Whitman Rostow’s Stages of Economic Growth and John Kenneth Galbraith Equilibrium of Poverty for the domestic and gloabal economic environments identified above for US Airways Group. The US has a mixed economic environment and is classified as a first world country. The reason the US does not fit into one specific economic environment is it has characteristics of capitalism in which the relationship of supply and demand dictates price and it also has elements of a free-market economy in which the government establishes laws and policies to ensure public safety and welfare (Ajami, Cool, Goddard, Khambata, 2006, p. 59). Costa Rica has a social market economy (Rojas, 2006) and is classified as a thrid world country (Rosenberger, 2012). A social market economy is similar to a free-maket economy in that â€Å"it upholds free market components such as private property and ownership of businesses and industry, free price formation, market competition and free trade, while also utilizing government regulation to create fair market competition by preventing market monopolies, ensuring ongoing economic development and poverty alleviation† (Social Market Economy, 20 13). Based on the definitions provided it can be said the both economies are similar in regards to government regulations being involved in creating a fair and safe market environment. Walt Whitman Rostow identified five economic stages of growth in which a country could fall: traditional society, transitional stage, takeoff, drive to maturity and the age of mass consumption (Ford,  2004). Each stage represents a stepping stone to for the next stage. According to Rostow the US surpassed the age of mass consumption in the late 1950’s (Ferraro, 1960), Costa Rica however is still in the takeoff stage. This stage is â€Å"marked by major transformations that stimulate the economy† (Ajami, Cool, Goddard, Khambata, 2006, p. 55). For US Airways Group, in Costa Rica this is identified by their growth in the technological area (more flights operated) as well as more jobs being created due to the increase in flights. Although in the US this stage has been surpassed, US Airways contiunes to â€Å"grow† in this aspect because they are increasing flight schedules. Galbraith’s view of economics is similar to that of Rostow, in that economic growth is as much a change in social, intellectual and policatical as well as physical (material) change (Watson, 2011). According to both of their economist views the US operates as a capitalistic economy. This is tr ue of US Airways in the way that they have been able to turn-around their business since 2005. They actually took into consideration things that would make the consumers happy, not necessarily increasing their capacity (i.e. putting more seats on a plane), in doing so they were able to keep up with the consumer’s wants and still provide the service that was needed (Smith, 2012). This falls into Galbraith’s view that â€Å"the major affirmative purpose of the firm is corporate growth† (John Kenneth Galbraiths Contributions to Economics, 2013). This view is similar to Rostow’s age of mass consumption in that both concentrate on the high standards of living (i.e. comfort in travel on the plane) that have been established as a result of the efforts set forth is their respective stages. Where the two differ dramatically is that Galbraith believes that the companies direct the consumers wants by advertising that makes the consumers desire certain products or services, and that therefore the economy is more driven by the seller and not the consumer (John Kenneth Galbraiths Contributions to Economics, 2013). In this instance though, that concept contradicts his idea of ‘the major affaimative purpose of the firm is corporate growth’ in the example provided regarding US Airways above. In successfully industrializing a poor economy such as Costa Rica’s, Galbraith’s Equilibrium of Poverty offers the idea of the reliable infrastructure system (Ajami, Cool, Goddard, Khambata, 2006, p. 57). This idea simply means that the country would need to have a â€Å"relieable  system of roads, ports, electrical power supplies and communications† (Ajami, Cool, Goddard, Khambata, 2006, p. 57). In this case US Airways already has access to these items at the airport and therefore is well on its way to helping the economy grow and prosper. While both Rostow and Galbraith believe that governement need to be invovled in the initial stages to help third world countries establish themselves and help to protect their citizens they also understand that there will be a time when the government will need to step back and let the companies in the different industries takeover and control their own destinies so to speak. Rostow does not mention how or when he thinks this should be done, however Galbraith says that he feels that governments should impose â€Å"taxes on consumer goods and services, using the proceeds to increase the availability of public sector goods and services† (John Kenneth Galbraiths Contributions to Economics, 2013). In doing this, he is trying to show that eventually there has to be a point where control is given to the companies and they only need to answer to the governments when required or necessary. US Airways Group has made significant improvements in seven of the eight-attribute areas identified On Fortune 500’s Worst List 2006. On the 2011 list they still have a ranking on the worst product quality attribute of number 11, which is down from 10. US Airways Group needs to figure out ways to improve the quality of their service as well as their products. Although they may not have much control over the service aspect because the flight schedule cab be delayed because of an airline from another company they can control they products. They can invest in newer planes, upgrade/update their current planes and even update their hubs in the airports that they currently operate in. Other ways for the company to continue to grow and succeed in the domestic and global environments are they must continue to improve their offerings. They are off to a great start by taking surveys and asking customers what is important to them. They need to go a step further and ask the employees what is important to them, what will keep them loyal to US Airways Group. Take what they learn from the employees and the implement changes that are suggested. Continue to ask the customers what they like, do not like, what other features they would like to see in the airports, on the planes and in the air. I think one thing that the company should do is take a lesson from Southwest and stop charging baggage fees for the first checked bag. They should eliminate  change fees, and if someone needs to cancel their trip completely, implement a cancell ation fee, but refund the difference between the ticket price and the cancellation fee. By eliminating their fees they will draw more passengers to the airline and increase sales, because people will not feel as if they are being taken advantage of. In today’s economy this will go far with consumers and could lead to even bigger profits in the end, because they will feel that US Airways Group is a company that is not just looking out for themselves but for their customers as well. As demonstrated there are several different environments that a multinational corporation must take into consideration when exploring new opportunities. The government regulations, hard and soft technologies, political-legal barriers, sociocultural factors and economic theories that a company faces and how they handle each of those environments will determine if they will succeed or fail. Walt Whitman Rostow and John Kenneth Galbraith’s economic theories can be used by companies to help determine if the global environment that is being considered will be a good fit with the domestic environment of the parent company. Once the location has been setup and establishe the company must realize that the work does not stop there, they must always analyze and remember they want to continue to grow so they need to ask the question what do we do to contiune to prosper or what do we do to make it so we do prosper. Bibliography 10-K, A. H. (2012, May 19, Retreived December 16, 2012). Government Regulations and Airline Industry Taxation. Retrieved from Wikinvest: http://www.wikinvest.com/stock/AirTran_Holdings_(AAI)/Government_Regulations_Airline_Industry_Taxation Ajami, R. A., Cool, K., Goddard, G. J., Khambata, D. (2006). International Business: Theory and Practice. Armonk, NY: M.E. Sharpe, Inc. Best worst in (2006). Retrieved from CNN Money: http://money.cnn.com/magazines/fortune/mostadmired/2006/best_worst/ Costa Rica. (2012, December 30). Retrieved from cr2net.com: http://www.cr2net.com/costarica/coming_and_going.htm Doing Business in Costa Rica: 2012 Country Commercial Guide for U.S. Companies. (2012, December 30). Retrieved from The Department of Commerce: http://www.buyusainfo.net/docs/x_1853591.pdf Electronic Code of Federal Regulations. (2012, December 13, Retreived December 16, 2012). Retrieved

Mother Courage and her Children Essay -- Bertolt Brecht Plays Tragedie

Mother Courage and her Children "Mother Courage and her Children", by Bertolt Brecht, is a play which can be seen from varying perspectives. Some consider it to be a comment on the socio-economic aspects of war, others as a criticism of bourgeois capitalism intended to encourage change in modern society. The somewhat tragic events of the play enable critics to consider it a "tragedy", but one which, to some extent, diverges from the Aristotelian definition. Aristotle believed that tragedy must revolve around a central character: the "tragic hero", on whom the plot focuses and who exhibits certain characteristics, which leads to his, though in this particular case, her, downfall. The role of such a figure is pivotal to the presentation of a play as a tragedy; yet it remains largely unclear with which character within the play this identity lies: Mother Courage herself, or her daughter, Kattrin. Perhaps the most obvious potential tragic figure is the lead character within the play: Mother Courage. She demonstrates an ability to survive, through which the audience recognizes her strength of character and instinct of self-preservation. This links closely with her sense of capitalism, which she prioritizes over alternative, more virtuous qualities presented within the play, such as Swiss Cheese's honesty and Kattrin's selflessness. Mother Courage's rigid capitalist stance can be interpreted as her "tragic flaw", or "hamartia", the term Aristotle uses to describe the mistake leading to the protagonist's downfall. It is a flaw that Mother Courage consistently exhibits and a mistake which occurs thrice in the deaths of her children, as she is absent conducting business on all three occasions. However, despite her apparent detachment towards her children, it is evident that Mother Courage harbours genuine concern for the well-being of her children: in a discussion with Cook over fu ture prospects, she states, "all I'm after is (to) get meself and children through all this with my cart". In the juxtaposition created by the reluctant combination of the roles of the mother and the tradeswoman, it is perhaps foremost a tragic contradiction within Mother Courage's character, rather than her role as a tragic heroine, that is emphasized. Alternatively, this contrast could be interpreted as an indication that Mother Courage is morally "neither all good nor all bad"... ...her tragic flaw. There is a clear obstacle in Kattrin's position as a tragic heroine in that she is not the central character, making it difficult to envisage her as the true tragic heroine of the play. However, she could not realistically carry the lead role in such a play due to her muteness, as it would hinder characterization and plot development. Nevertheless, Kattrin is on stage for a considerable proportion of the play, suggesting that although she may not hold the most prominent position, she acts as a closely connected tragic antithesis to the lead role, Mother Courage. In conclusion, it could be argued that either of these two women in "Mother Courage and her Children" could be described loosely as a tragic heroine, but I believe that Kattrin displays the heroism and virtue that are required to be considered worthy of this title: Mother Courage is absorbed in a society where the possession of heroic qualities is not only impossible, but irrelevant. The combination of tragic circumstances with Brecht's "Verfremdung" technique prevents tragedy from overpowering other aspects of the play, which accounts for the difficulty in identifying a true Aristotelian tragic hero.

Provinces of the Philippines and Spanish Influence Origin

SUBMITTED BY: Vince Carlo M. Payumo II-St. Martin Submitted To: Ms. Fatima Mallari NATIONAL CAPITAL REGION (NCR) * ARAY TYPE: Spanish Influence ORIGIN: Ermita, Manila PRONUNCIATION: (ah-RAHY) The Aray is a Filipino form of the Spanish jota accompanied by sprightly steps. The dance, itself, is flirtatious  and involves the graceful use of  tambourines by women. * PASIGIN TYPE: Rural Folks ORIGIN: Pasig Pasigin came from the word Pasig that is mentioning the name of the river. The dance was interpreting and inspiring the life of the fishermen. * PAYPAY DE MANILA TYPE: Spanish Influence ORIGIN: ManilaA dance performed by lovely young  ladies carrying scented fans and flirts with  young men with canes and straw hats. Ladies dances their way to the heart of the men they desire through the use of a fan. Cordillera Administrative Region (CAR) * BANOG TYPE: Cordillera Dance ORIGIN: Ifugao This dance depicts hunters protecting their hen and  chicks in Binaylan from a hungry hawk. Th e hunters trap the hawk and kill it in the end. * BENDAYAN TYPE: Cordillera Dance ORIGIN: Benguet This is a circle dance, which is being performed to celebrate the  arrival of successfulheadhunters. It is also popularly known as  Bendian. * DINUYYATYPE: Cordillera Dance ORIGIN: Ifugao PRONUNCIATION: (dih-NOOH-yah) This is a festival dance from Lagawe. It is performed by the Ifugao men and women during a major feast. Accompanying the dance  are three gangsa or gongs: the tobtob, a brass gong about ten inches in diameter and played by beating with open palms, and the various hibat or gongs played by beating the inner surface with a stick of softwood. * LUMAGEN TYPE: Cordillera Dance ORIGIN: Kalinga PRONUNCIATION: (looh-MAH-gehn) A dance performed at Kalinga  festivals to celebrate Thanksgiving and occasions suchas the birth of a first-born child, victories in battle, and marriage. SALIP TYPE: Cordillera Dance ORIGIN: Kalinga PRONUNCIATION: (SAH-lihp) A Kalinga wedding dance th at depicts a warrior claiming his bride presenting her with a matrimonial blanket. The woman responds by balancing several clay pots upon her head. * SALISID TYPE: Cordillera Dance ORIGIN: Kalinga A courtship dance being done to symbolize a rooster trying to attract the attention of  a hen. This is performed and portrayed by both male and female which serves as the rooster and hen respectively. The dance starts when each  of them are given  a piece of cloth known as â€Å"ayob† or â€Å"allap† * TAKILING TYPE: Spanish InfluenceORIGIN: Lubuagan, Kalingga The homecoming of triumphant head hunters after a  successful kayaw of  headhunting, done to avenge the death or evil done to a family member or relative is celebrated with the playing of special gongs called gangsa. The minger or successful warriors are honoured by their female relatives with  gift of feather of lawi,beads or bongon and colorful g-string s  called ba-ag. Victory songs are sung by  the b y the villagers while the minger dance with closed fists while the bodan or the unsuccessful members of the headhunting group are demoted to  playing the gangsas. * TAREKTEKTYPE: Cordillera Dance ORIGIN: Benguet A woodpecker courtship dance which imitates the movements of the  birds, with a colorful blanket for a prop. * UYAOY / UYAUY TYPE: Cordillera Dance ORIGIN: Ifugao PRONUNCIATION: (OOH-yah-OOHY) An Ifugao wedding festival dance,  which makes use of gongs and  is usuallyperformed by the affluent wealthy  people. Those who have performed this dance areentitled to the use of gongs at their death. Ilocos Region (Region I) * LA SIMPATIKA TYPE: Spanish Influence ORIGIN: Pangasinan Simpatika means demure, charming, and lovable, which are the qualities of asenorita deeply in love.The flavor and context of La Simpatika centers on loveexploits of gentlemen suitors who are after the love of their life. In the Philippineswhere moral rules are strict and binding, society calls fo r the ladies to be impeccablydemure and gentlemen to be prim and proper. * MANMANOK TYPE: Cordillera Dance ORIGIN: Ilocos Norte PRONUNCIATION: (mahn-mah-NOHK) A dance featuring tribe roosters from the  Bago Tribe competing for the attention of  Lady Lien. They use blankets designed with colorful plumes as a means to attract her. * OASIWAS TYPE: Christian Dances ORIGIN: Pangasinan PRONUNCIATION: (wah-SEE-wahs)After a good catch, fishermen of Lingayen would celebrate by drinking wine and bydancing, swinging and circling a lighted lamp hence the name â€Å"Oasiwas,† which in the Pangasinan dialect means â€Å"swinging. † This  unique and colorful dance calls for skill in balancing an oil lamp on  the head while circling in each hand a lighted lamp wrapped in a porous cloth or fishnet. The waltz-style music is similar to that of  Pandanggo sa Ilaw. Cagayan Valley (Region II) * JOTA CAGAYANA TYPE: Spanish Influence ORIGIN: Cagayan This dance originated from Spain and found its way into many places in the islands.Although it is â€Å"Filipinized† in many ways, Jota Cagayana still displays the fire and fury of its Europe an origin. It is performed by the Ibanags situated in the Cagayan Valley. The steps are similar to that of the famous European dance steps such as the mazurka, polka, gallop and waltz. * JOTA ISABELA TYPE: Spanish Influence ORIGIN: Isabela An Ilocano dance performed by Ilocano settlers of the woodlands of old Isabela. * TURAYEN TYPE: Cordillera Dance ORIGIN: Cagayan Gaddang originated from the word ‘ga' and ‘dang' which means heat and burned respectively. The Gaddangs live in the middle of the Cagayan Valley.Their dialect is similar to that of the Ilokanos. Most of them are Christian converts and into agriculture. In this dance, the Gaddang imitates the birds attracted to tobacco trees. Central Luzon (Region III) * HABANERA JOVENCITA TYPE: Spanish Influence ORIGIN: Zambales PRONUNCIATION: (ah-bahn-NYER-rah d eh hoh-vehn-SEEH-tah) A graceful and beautiful habanera dance usually performed at a women's debut or wedding. Jovencita means â€Å"young lady† in  Spanish. CALABARZON (Region IV-A) * ABARURAY TYPE: Spanish Influence ORIGIN: Quezon PRONUNCIATION: (ah-bah-ROOH-rahy)The name of this dance came from a contraction of the words Aba and Ruray. Such dance is performed by the girls who balances the glass of wine on their head from which the young man drinks. * BALSE TYPE: Spanish Influence ORIGIN: Rizal PRONUNCIATION: (BAHL-seh) Derived from the Spanish word â€Å"valse,† that means waltz, the dance was popular in Marikina and Rizal province during the Spanish times. Balse was performed after the Lutrina – a religious  procession, and the music that accompanied the dancers was played by the musikong bungbong or  musicians using instruments made of bamboo. MAGLALATIK TYPE: Rural Folks ORIGIN: Laguna PRONUNCIATION: (mahg-lah-lah-TIHK) A native dance, which makes us e  of coconut shells as props. All the  male dancers were using harnesses of coconut shells positioned on their backs, chests, hips  and thighs. * MALAGUENA TYPE: Spanish Influence ORIGIN: Quezon A favorite dance of the people from Laguna and Quezon during the Spanish times. * POLKABAL TYPE: Christian Dances ORIGIN: Atimonan, Quezon PRONUNCIATION: (POHL-kah-bahl) A dance influenced by two  distinct European styles: polka and valse. SUBLIAN TYPE: Rural Folks ORIGIN: Batangas Subli came from two Tagalog  words, the â€Å"subsub† means stooped or in a  crouching position and â€Å"bali† means broken. The dance was first seen many years ago in the barrio of Dingin, Alitagtag, Batangas. It was done during the town and barrio fiestas in the month of  May. This is sacred and  dance as ceremonial worship performed in homage to the Holy Cross that referred to Mahal na Poong Santa Cruz. MIMAROPA (Region IV-B) * JOTA PARAGUA TYPE: Spanish Influence ORIGIN: Palawan PRONUNCIATION: (pah-RAHG-wah)A dance originating from Zamboanga  which makes use of Philippine bamboo castanets being held loosely and  displays steps with very strong Castillian influence. * KARATONG TYPE: Muslim Dance ORIGIN: Palawan The annual parade of  San Agustine includes the celebration of blossoming mangotrees that grow abundantly on the island of Cuyo, the former capital of the Palawan province. Starting at the church patio and ending at the town plaza, groups of ladies sway their colorful â€Å"bunga manga,† which are  meant to represent the flowers of  the mango tree while the  men strike lively, syncopated beats with their  karatong.Bicol Region (Region V) * PANTOMINA TYPE: Spanish Influence ORIGIN: Bicol A dance imitating the complex stages of love and courtship. This is also a popular dance at any social gathering. Western Visayas (Region VI) * GAYONG GAYONG TYPE: Muslim Dance ORIGIN: Aklan, Capiz In rural gatherings, this dance offers much fun. Gayong is a pet name for Leodegario. According to the legend and to the words of the song, Gayong and Masiong (pet name for Dalmacio) once attended a feast commemorating the death of  a townsman. While eating, Masiong choked on a piece of Adobo so he called, â€Å"Gayong! Gayong! to ask for help to dislodge a bone from the Adobo meal from his throat. In this dance, Masiong's liking  for feasts and the consequence of his  voracity are held up to playful ridicule * PASEO DE ILOILO TYPE: Spanish Influence ORIGIN: Iloilo PRONUNCIATION: (PAH-say-oh deh eeh-loh-EEH-loh) The most sophisticated courtship and flirtation dance  of the Spanish Era. This dance portrays the men competing against each other in order to win the heart of a young lady. Central Visayas (Region VII) * MAZURKA BOHOLANA TYPE: Spanish Influence ORIGIN: Bohol Mazurka Boholana  is a Spanish-inspired ballroom dance from the Bohol province of the Philippines.The country was under the rule of Spain for more than th ree hundred years, during which time local culture was markedly influenced. Although the mazurka is the Polish national dance, it was wildly popular  throughout Europe in the 19th century and even in colonized lands overseas. The Philippine dance is ordinarily performed by men and women partners. Eastern Visayas (Region VIII) * ALCAMFOR TYPE: Muslim Dance ORIGIN: Leyte PRONUNCIATION: (ahl-kahm-FOHR) This is a couple’s dance in which the girl holds a handkerchief laced with camphor oil, a substance that supposedly induces romance. * MALAKAS AT MAGANDATYPE: Tribal Dance ORIGIN: Leyte This is a legend and ancient tradition dance wherein it has been said that a  weary bird perched on a huge bamboo because it heard some strange noises inside. It pecked the bamboo, split open and there came from the inside, ‘Malakas' the first man and ‘Maganda' the first woman. Malakas (The Strong) and Maganda (The Beautiful) are the parents of all the people of the island. * TIADOT TYPE: Christian Dances ORIGIN: Samar A South American inspired dance. Gaily-dressed couples show off the  fashion of the period, long tailed skirts and American Serrada suits.Zamboanga Peninsula (Region IX) * PANGALAY TYPE: Muslim Dance ORIGIN: Zamboanga del Sur PRONUNCIATION: (pahng-AH-lahy) A popular festival dance in Sulu. This is a traditional fingernail dance being performed at wedding celebrations held by the affluent families. Northern Mindanao (Region X) * DUGSO TYPE: Tribal Dance ORIGIN: Bukidnon PRONUNCIATION: (DOOHG-soh) A thanksgiving dance from the Talaindig Tribe. Davao Region (Region XI) * BAGOBO RICE CYCLE TYPE: Tribal Dance ORIGIN: Davao del Norte A tribal dance from the Bagobo Tribe which portrays the cycle of planting and harvesting of rice.SOCCSKSARGEN (Region XII) * KADAL TAHAW TYPE: Tribal Dance ORIGIN: South Cotabato A T'boli bird dance. This is being done to celebrate the good planting and harvesting which simulates the flights and hops of the tahaw bird. * KAPA MALONG MALONG TYPE: Muslim Dance ORIGIN: Cotabato PRONUNCIATION: (KAH-pah MAH-long MAH-long) A traditional Maranao dance performed by women wearing a malong, shawl, mantle or a head-piece whereas the  men's version uses a sash or waist-band, shorts or bahag, and a head-gear or a turban which can also be used while working in the fields. * SAGAYAN TYPE: Muslim DanceORIGIN: Cotabato A Maranao war dance performed  by fierce warriors. They carry a shield elaborately painted with curlicues, rounds, twirls and mirrors. This is also  performed before any celebration or gathering as a means to drive away the evil spirits as well as to welcome the good fortunes or omen. Caraga Region (Region XIII) * BINAYLAN TYPE: Tribal Dance ORIGIN: Agusan PRONUNCIATION: (bih-NYE-lahn) This is a ritual dance, which originated from the Bagobo tribe living in the central uplands of Mindanao, imitating the movements of a hen, her banog or baby chicks, and a hawk.The hawk is sacred and is believed that it has the  power over the wellbeing of the tribe. The hawk tries to capture one of the baby chicks and is killed bythe hunters. * ITIK-ITIK TYPE: Rural Folks ORIGIN: Surigao del Norte PRONUNCIATION: (EEH-tihk-EEH-tihk) This dance is performed at a baptismal party held in the province of Surigao del Norte. Such dance improvises the movements and steps that  is typical of how an itikor the duck acts and walks. Autonomous Region in Muslim Mindanao (ARMM) * ASIK TYPE: Muslim DanceORIGIN: Lanao del Sur PRONUNCIATION: (ah-SIHK) A Bagobo Festival dance wherein the girl wears long metal fingernails while holding an umbrella and posing in doll-like motions. * PAGAPIR TYPE: Muslim Dance ORIGIN: Lanao del Sur This dance is being performed by the ladies of the royal court in preparation for an important event. These ladies gracefully manipulate the Apir or fan while doing small steps or the so-called â€Å"kini-kini† which for them is a sign of having a good upbringing. * PANG ALAY HA PATTONGTYPE: Muslim Dance ORIGIN: Tawi-Tawi PRONUNCIATION: (pahng-AH-lahy-hah-pah-TOHNG) A dance performed by a royal couple balancing on top of bamboo poles and imitating the movements of a southern boat  with colorful sails or the so-called  Ã¢â‚¬Å"vinta†. * PANGALAY SA AGONG TYPE: Muslim Dance ORIGIN: Sulu A Tausug's traditional dance wherein two warriors compete against  each other for the attention of a  young woman. They use gongs to show th eir prowess and skill. * PANGSAK TYPE: Muslim Dance ORIGIN: Basilan

Internship Report on Ztbl

Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 1 â€Å"INTRODUCTION TO REPORT† 1. 1 BACKGROUND OF STUDY The Zarai Taraqiati Bank Limited is the premier financial institution geared towards the development of agriculture sector by providing financial products and services to their customers. It is a common practice at universities during the completion of the masters and bachelors program to attain practical experience in different fields.Students are required to undergo an internship program of two months to fulfill the requirement for their degree completion. The selection of the firm is based on the choice of the student. The institute requires an internship report based on the theoretical and practical learning of the student. The Internship is the bridge between academic qualification and professional career of fresh graduates†. This internship report is mainly focused on the working of the Finance and Accounts Division of the ZTBL.Moreover, the i nternship is a unique aspect of education that integrates study with planned and supervised career-related work experience. The students are involved as non-paid â€Å"authentic employees† receiving academic credit for work experiences. The purpose of the internship program is to develop and strengthen the student’s educational and career preparation. By doing internship in any organization that obviously exposes the interpersonal relationships not only with employees but also with supervisor that are essential in obtaining a successful and satisfying career.This background of the study is mainly focus on the performance, functions and objectives of the Finance and Accounts Division of the ZTBL and its internal working and operations of this division. While, the internship is any experience where students learn by taking on responsible roles as workers in organizations and observing and reflecting on what happens while they are in the workplace. It provides 1 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report any advantages to student that helps him throughout his life. Some advantages of internship program are given as under; ? ? ? ? ? To gain professional experience and receive academic credit To enhance independence, responsibility and self-confidence To Interact and collaborate confidently with employees To share ideas with one another. To translate classroom knowledge into the professional work environment and to make plan, how to carry the activities. ? To work towards the process improvement. 1. 2 PURPOSE OF THE STUDY The purpose of conducting this study is to develop some insight into the orking of the Finance and Accounts Division of the ZTBL and to gain the experience regarding the overall operations and procedures of the bank, in order to complete the BBA (Hons) degree as well. The purpose of the internship program is to develop and strengthen the studen t’s educational and career preparation, which they gain from university. Another important aspect of the internship program is that internee is placed to various departments of the organization through job rotation. It provides a glance of each department, as the period is too short for learning in detail. Other objectives of the study are as follows: ?To gather relevant information then interpret and analyze it in a useful manner. ? ? ? ? To highlight the facilities and products offered by the ZTBL to its customers. Internship can develop good work habits and to reduce student dropouts. To develop, enhance and strengthen the communication skills. To observe and participate in a professional work situation which represents an area of career interest. 2 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To develop an understanding of the organization, its mission, objectives and management phi losophy.To acquire good work habits and gain an awareness of the community’s vast resources. To be responsible and work toward specific achievable goals. To analyze the bank through different analysis such as Ratio & SWOT analysis. ? ? ? 1. 3 SCOPE OF THE STUDY The scope of the conducting this study is given as under; It is a compulsory requirement for the award of Bachelor’s Degree in ? Business Administration from the Kohat University of Science & Technology. ? This report is concerned with the performance, functions and objectives of the â€Å"Finance & Accounts Division of the ZTBL† Head Office Islamabad. ZTBL. ? It can provide help to the management of the ZTBL in identifying their Strengths, Weaknesses, Opportunities and Threats. ? It can also provide assistance for the students in seeking annual reports for the purpose to calculate and interpret financial ratios, in order to check the liquidity, leverage and profitability of the ZTBL. ? Further more, stud ents are able to analyze the human resources & analyze the marketing of products and services schemes that the ZTBL provide his customers. It will help the students in making assignments and writing reports on the 1. 4.IMPORTANCE OF STUDY Banks play a central and very important role in the economic life of a country, that’s why they are considered as the lifeblood of modern economy. Today no one can deny the importance of banking in the economy. They facilitate and expedite 3 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report trade and commerce and provide a variety of services that one can’t imagine without banks. I have chosen the ZTBL for my internship because it has a large network of zonal offices and branches.But besides this, the ZTBL plays an important role in the economic development and growth of Pakistan. 1. 5. RESEARCH METHODOLOGY During the internship at the ZTBL Head Office Islamabad, the most important task was to collect as much as information on the bank in order to have a full productive report. For the collection of information and data, I used two methods for collecting data for the preparation of internship report such as primary and secondary collection methods, which is given as under; 1. 5. 1. Primary Data Collections: In primary data collection method, I interviewed different officers for this purpose.The interviews were not of formal nature but it went along with time and the questions arose with identification of problems. I prepared many questions and discuses with Bank officers asked all the detailed function and procedures of there departments. All officers fully cooperated with me and provided all the necessary information which was required to me. The interviews have been taken from the bank officers and also the discussion was conducted with the heads of different departments. For collecting primary data, I use my own observation an d discuss my problems with previous internees. 1. 5. 2.Secondary Data Collection: The data that are previously collected and assembled for the some projects other than the one at hand. It is also called as historical data. This method can almost always be gathered faster ant at a lower cost than primary data. The secondary data is collected from following sources; ? ? ? ? Annual Reports & Accounts manual. ZTBL web site & Internet. Brochures. Pamphlets. 4 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? ? ? Newspapers. Business journals. Books. 1. 6. LIMITATIONS OF THE STUDYThere are some limitations which, I had to face as an internee during the Internship program in the ZTBL Head Office Islamabad, which are described as under; ? ? Time was too short to visit all division and departments of the organization. The problem of loud shedding makes delay in preparing this internship report of the ZTBL. ? All staff members avoided to give every information. However, they kept most of the data secrets. So, it was very difficult to collect the relevant information. ? The vice presidents, executives, managers and other staff members have their own matters of bank nd it was a great problem for me. ? Lack of co-operation by some employees because they were non-research oriented and also lack of accuracy of the relevant data. ? Instead of all these difficulties, I have completed this internship report on the Finance and Accounts Division of the ZTBL Head Office with full cooperation of few managers. 1. 7 SCHEME OF THE REPORT The internship report on the Finance & Accounts Division of the ZTBL is arranged in four sections and ten chapters. The report is arranged in the following sequence. SECTION-I This section has one chapter. Chapter 1: Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report This is an introdu ctory chapter which describes the introduction, background, purpose, scope, importance, research methodology, limitations and scheme of the report. SECTION-II This is lengthiest section of the report; it includes the review of the ZTBL. This section is comprised of eight chapters. Chapter 2: This chapter is about bank and banking, evaluation of banking, overview of banking in Pakistan and role of banks in the economic development of the Pakistan.Chapter 3: This chapter encompasses the introduction, history, mission, vision, objectives, restructuring plans, BOD, zonal offices & branches, ranking of staff members and subsidiary of the ZTBL. Chapter 4: This chapter briefly describes the products & services such as loans & schemes and the recovery procedure of the loan of the ZTBL. Chapter 5: This chapter is concerns with the introduction, objectives, functions, classification and hierarchy of the Finance and Accounts Division of the ZTBL. Chapter 6: This chapter describes the introduct ion, objectives, unctions and units of the Central Accounts Department of the ZTBL. Chapter 7: This chapter describes the introduction and units of the Head Office Accounts Department of the ZTBL. Chapter 8: This chapter is concerns with the introduction, objectives, functions and units of the Regulatory Reporting Department of the ZTBL. 6 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report Chapter 9: This chapter describes the introduction, objectives, functions and units of the Budget & Fund Reconciliation Department of the ZTBL.SECTION-III This section also has one chapters and it is about the various analyses of the ZTBL. Chapter 10: This chapter explains the SWOT analysis, ratio analysis, human resource analysis & marketing analysis of the ZTBL. SECTION-IV This section contains only one chapter. Chapter 11: This chapter explains findings, recommendations, personal experience, conclusions & annexur es of the ZTBL. 7 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 2 INTRODUCTION TO BANKING† 2. 1 MEANING & ORIGIN OF BANK Some authors are of opinion that the word bank is derived from the word â€Å"Banquet† which means a â€Å"Bench†. This is attributed to the fact that the Jewish transacted the business of money exchange on bench in market place. â€Å"A bank includes a body of person, who carry on the business of banking† or â€Å"a bank may be as an institution dealing mainly in money and credit. It accepts deposits from one class of people at a lower rate of interest and industry for meeting the requirements.This provides finance for successfully carrying on various stages of production as well as distribution. † Moreover, a bank can stimulate the habit of savings amount for the people and provide the security and interest they offer with these savin gs which are deposited by people are in a position to utilize the deposited amount more productively. In short, a bank can increase the transaction capacity of the customers by advancing loans when they require for additional funds to finance their expanded program of business transaction. 2. 2 EVOLUTION OF BANKING Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report According to the banking companies ordinance 1962 â€Å"banking is business that receive investment or lending of deposits of money from public and repayable on demand or otherwise and which draw able by cheque, draw orders or otherwise†. As regards the growth of modern commercial bank, it can be traced to as early as 600BC. The â€Å"An Outline of Money†, written by G. Crowther, has traced the history of modern English Commercial banking.According to him, the present day banker has three ancestors such as merchants, goldsmith s & money lenders; which are briefly explain as under; 2. 2. 1 The Merchants: The earliest stage in the growth of banking can be traced to the working of merchants. These merchants were traders in commodities. The trading activities were carried on by them from one place to another. It was risky for the traders to carry metallic money with themselves for payment. The traders with high reputation began to issue receipts which were accepted as titles of money.These receipts or letters of transfer also called hundi in Indo Sub Continent were the first mode of payments. The merchant banking thus forms the earliest stage in the evolution of modern banking. 2. 2. 2 The Goldsmiths: The second stage in the growth of banking is normally traced to earlier goldsmiths. These goldsmiths also called Seths in India used to receive gold and silver for safe custody. The goldsmiths began to issue receipts for the metallic money (gold & silver) kept with them. These receipts with the passage of time b ecame payable to the bearer on demand.In this way the ‘goldsmiths’ note, become a medium of exchange and a mean of payment. The goldsmiths, thus, can rightly be termed as the fore-runners of the modern bank note. 2. 2. 3 The Money Lenders: The third stage in the development of banking arose when the goldsmiths became the money lenders. By experience the goldsmiths (who were called money lenders) came to know that they could keep a small proportion of the total deposits for meeting the demands of customers for cash and the rest they could easily lend. They allowed the depositors to draw over and above the money Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report actually standing to their credit. In Economic terminology, we can say that they allowed the overdraft facilities to their depositors. When every money lender and goldsmith issued receipts and most of them allowed the overdraft faci lities, there was too much confusion in the banking system. The money lenders and goldsmiths, in order to earn profits, could not keep adequate reserves for meeting the demands of the customers for cash.The failure on the part of the money lenders and goldsmiths to return money caused widespread distress among the people. In order to create confidence among the people, steps were taken to regulate the banking organization. A conference was held in Nuremburg in 1548. It was decided that a bank should be set up by the state which should streamline the banking organization and technique. The first central bank was formed in Geneva in 1578. Bank of England was established in 1694. The modern commercial banking system actually developed in the 19th century. 2. 3EVALUTION OF BANKING IN PAKISTAN At the time of independence the areas, which now constitute the Pakistan were producing only food grains and agricultural raw material. For Indo-Pak sub continent, there were practically no industr ies and whatever raw material was produced was being exported from the Pakistan. How ever commercial banking facilities were provided fairly well here. There were 487 offices of scheduled banks in the territories now constituting the Pakistan. As a new country without resources it was very difficult for the Pakistan to run its own banking system immediately.Therefore in accordance with the provision of Indian independence Act 1974, an expert committee was appointed to study the issue. On the recommendation of committee Reserve Bank of India continued to function in the Pakistan, till 30th September 1984, so that problem of time and demand, liability, coinage, currencies exchange etc be settled between India and Pakistan. It was decided that Pakistan will take over the management of public debt 10 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report nd exchange control from reserve Bank of India on 1st A pril 1948, and that India notice would continue to be legal tender to the Pakistan till 30th September 1948. Following the announcement of independence plan in June 1947, the Hindus residing in the territories now comprising Pakistan started transferring their assets to India. Moreover the banks including those having the registered offices in Pakistan transferred to India in order to bring a collapse of new state. By 30th June 1948, the number of offices of scheduled banks declined from 487 to only 195 in the Pakistan.There were 19 non-Indian foreign banks with the status of small branch offices, which were engaged solely in export of crops from the Pakistani institutions i. e. , Habib Bank and Australia Bank. The government promulgated the Banking Companies Ordinance 1947, to safeguard the interests of both banks and the customers. The Imperial Bank closed down most of its offices in Pakistan, which created serious problems. The Indian government withheld Pakistan’s share o f Rs. 75 corer in cash balance held by them at the time of partition.The urgency of assuming control of banking and currency was very badly felt now. The government of Pakistan decided to establish a full-fledge central Bank. Father of the Nation, Quaid-i-Azam Muhammad Ali Jinnah, inaugurated the State Bank of Pakistan on July 1948, after the State Bank of Pakistan order was promulgated on 12th May 1948. The SBP provided every help and encouragement to Habib Bank to expend its network of branches and formulated and developed NBP in 1949 as an agent bank, which took over the agency functions in 1952 from Imperial Bank of India.In order to develop sound banking and weeding out week institutes, the Banking Companies Act was promulgated in 1949, empowering the SBP to control the operations of banking companies in Pakistan. In a very short period of time number of scheduled banks and other specialized credit institutions rose to thirty six. By June 1965, the numbers of branches of schedu led banks were 1591. Pakistani commercial banks were nationalized in 1974, but the process was reversed as nationalization proved to be defective. The ZTBL, MCB, 11 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ABL and UBL have been privatized and HBL is expected to be privatized within near future. The nationalization of Banks in Pakistan since 1st January 1947 has heralded a new era of development and progress. It has taken a complete banking system with effect form January 1981. The privatization process of state owned banks and enterprises started in 1991. 2. 3 CLASSIFICATION OF BANKS IN THE PAKISTAN The banks are classified according to their spheres of activities. The main types of banks are as under: 1.Central Bank: Every civilized country now has its own central bank. The primary function of the central bank is to regulate the flow of money and credit in order to promote efficiency, stabil ity and growth in the country. In Pakistan, the SBP is the country’s central bank. 2. Commercial Banks: These banks are engaged in performing the routine duties of banking business. They collect surplus money from the people. They make loans and advances in the form of overdrafts, cash credits, discounting bills of exchange. The commercial banks also manufacture credit money.They also provide agency services and general utility services. These banks are considered the lifeblood of the economic society. Some commercial banks are owned and controlled by the government which is called as public sector banks. For e. g. , NBP, HBL, UBL†¦etc while other commercial banks that are owned by corporations is called as private sectors banks. For e. g. , MCB, ABL, City Bank†¦etc. 3. Exchange Banks: As name signifies, these banks mainly deal with international trade. These banks take the responsibility of settlement of foreign exchange and arrange the foreign business.In Pakistan , all the nationalized commercial banks have been allowed to do the business of exchange banks. 4. Saving Banks: Saving banks are those banks which collect and keep the small savings of the public. They are called also thrift promoting institutions. The saving 12 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report banks invest the funds in the safest government securities. The Post offices and saving centers perform the business of saving banks in Pakistan. 5.Agriculture Banks: The agricultural banks (specialized banks) are set up to provide financial assistance to the agriculturists. The agriculture banks provide short term credit to the farmers for the purchase of seeds, fertilizers, pesticides, fuel†¦. etc. They also make medium term advances for buying tractors and introducing modern techniques in farming. In Pakistan, the Agricultural Development Bank of Pakistan was set up in 1981 for meetin g the financial requirement of agriculture, the ADBP is incorporated as public limited company, according to the â€Å"Company Ordinance 1984† & is name was changed to the ZTBL in 2002.An agriculture bank is also called as domestic banks because these banks are registered and incorporated within the country. 6. Industrial Banks: The industrial banks mainly provide medium and long term credit to the industries. Since the industrial banks have long term deposits, they are in a position to permit long term investment in industries. In Pakistan, the Industrial Development Bank was set up in 1961. The other institutions engaged in providing financial assistance to industries are PICIC, NDFC†¦. etc. 2. 4 ROLE OF ZTBL IN THE ECONOMIC DEVELOPMENT OF THE PAKISTANBanks play an important and active role in the economic development of a country. If the banking system in a country is effective, efficient and disciplined, it brings about a rapid growth in the various sectors of the ec onomy such as agriculture, industrial, and the SME sectors. If the banking system is unorganized and inefficient, it creates maladjustments and impediments in the process of development. In Pakistan, the banking system is very well organized. The SBP established on July 1st, 1948 stands at the apex and is responsible for the operation of the banking system in Pakistan.The other banks such as commercial, specialized or unspecialized banks which form the banking structure in the Pakistan are playing an active role in the 13 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report economic development of the country. The role of the ZTBL in order to achieve economic growth and development of the Pakistan is briefly explained as under: 1. Development of Agriculture & Industrial Sector. The ZTBL particularly in rural areas of Pakistan are now providing credit for the development of agriculture & industrial secto r.The provision of credit to agriculture & industrial sector has greatly helped in raising agricultural productivity and income of the farmers. This has led to increased demand for industrial goods and expansion of trade & industry. The use of bank drafts, cheque, bills of exchange, credit cards†¦. etc, has revolutionized both national and international trade. 2. Banks Promote Capital Formation. The ZTBL plays an important role in rising of the financial resources. They encourage savings by giving various types of incentives to the savers.They expand branches of the banks in the rural and urban areas and mobilize savings even at far of places. These savings are then made available to the businesses which make use of for productive purposes in the country. 3. Investment in new Enterprises. Businessmen normally hesitate to invest their money in risky enterprises. The ZTBL generally provide short, medium & long term loans to farmers to invest in new enterprises and adopt new metho ds of production. The provision of timely credit increases the productive capacity of the country. The organized banking system helps in directing physical resources into productive channels.It also keeps a balance between the availability and requirements of the capital in the country. 4. Balanced Development of different regions. The ZTBL plays an important role in achieving balanced development in different regions of the country. They help in transferring surplus capital from developed regions to the less developing regions. The trade industries etc of less developed regions are able 14 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report to get adequate capital for meeting their business needs.This in turn, increases investment, trade and production in the country. 5. Monetization of the Economy. The commercial banks by opening branches in the rural and backward areas are reducing the exchange of g oods through barter. The use of money has now greatly increased the volume of production of goods. The non monetized sector (barter economy) is now being converted into monetized sector with the help of commercial banks. 6. Implementation of Monetary Policy. The central bank of the country controls and regulates volume of credit through the active cooperation of the banking system in the country.It helps in bringing price stability and promotes economic growth within shortest possible period of time. The ZTBL under the supervision and guidance of the SBP help in implementing and achieving the objectives of the monetary policy which vary from time to time. 7. Financing Development Projects. The ZTBL provide short, medium & long term loans for financing of development projects both in private and public sectors. The ZTBL starts projects with the Ministry of Food, Agriculture & Livestock (MINFAL) launched an integrated development program entitled â€Å"Crop Maximization Project† in 15 districts.The MINFAL will provide funds to the tune of Rs. 299. 833 millions to the ZTBL and thus help in accelerating the rate of economic development in the country. 8. Booting the Exports: In order to boosts the exports of the agriculture and industrial goods of the Pakistan, the banks have established export promotion cell for the information and guidance of the exporters. 9. Less Reliance on Foreign Capital: A planed banking system by launching a vigorous campaign of mobilizing idle saving in the country can meet the capital development requirements from within the country.The country will thus have to rely less on foreign capital for financing in the development projects. 15 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 3 â€Å"INTRODUCTION TO ZTBL† 3. 0 INTRODUTION The Zarai Taraqiati Bank Limited is the leading, premier and specialized financial institution geared t owards the development of agriculture, industrial and SME sector, by providing financial products, services and loans for their customers.The restructuring plan is being carried out with the aim to uplift the agriculture and rural sector by raising the productivity, streamlining the institutional credit and increasing income generating capacity of the farming community. The ZTBL was incorporated as the public limited company on 14th December, 2002 through repeal of the ADB Ordinance of 1961. The ZTBL provides financial and technological services to the agriculturalist at their doorstep for modernization of agriculture sector in Pakistan.The main purpose of the ZTBL is to provide sustainable rural finance and services particularly to small farmers and low-income households to strengthen the rural and agricultural 16 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report sector, mitigate poverty, capital ma rket and investment activities. The core values of the ZTBL is the professional integrety, teamwork, customer satisfaction and loyalty. The ZTBL has a one subsidiary which is known as the Kissan Support Services Limited. The bank can charge 9% interest.The auhorized capital of the ZTBL is Rs. 25,000,000,000. This amount is dividend into Rs. 2,500,000,000 ordinary shares & the price of each shares is ten rupees. The total number of shares of the ZTBL is Rs. 1,186,961,000 and paid up capital is Rs. 11,869,612,000 of the ZTBL. The ZTBL has one chairman, one president and ten directors. The tatal number of employees is 5,326, while 982 employees is provided by the KSSL. The ZTBL make investment in some listed companies such as Nestle Milkpak Limited, Uqab Breeding Farm Limited, Mubarik Dairies Limited & Dadabohy Agriculture Leasing Limited in order to generate profit. . 1 HISTORY OF ZTBL It was considered after independence of Pakistan that the existing institutional sources of credit, such as, taccavi and cooperatives, were insufficiently meeting the credit needs of farmers. Therefore the need for establishment of a third source of agricultural credit was essentially percolated so as to fulfil the credit requirements of farmers not only for production but even for the development purposes. Consequently, the ADFC was brought into existence in 1952 for the purpose of expanding financial facilities and promoting the development and modernization of agriculture in the Pakistan.Subsequently in 1957, the ABP was established that can provide both short term loan for production and long term loan for development. The ADFC & ABP were merged together as the ADPB in 18th February 1961. The ADPB is the main credit supplier to the agriculture sector in the country. According to the â€Å"Companies Ordinance 1984†, the ZTBL was incorporated as a the public limited company on 23th October, 2002. The ZTBL is governed by Memorandum and Article of Association and registered with the SECP under â€Å"Companies Ordinance 1984†.Consequently, on 18th November, 2002, all the assets, contracts, 17 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report liabilities, proceedings and undertakings of the ADBP were transferred and vested in the ZTBL on 14th December, 2002 by the Federal Government. 3. 2 CORPORATEAVISION To develop and operate the ZTBL as a commercially viable bank with focus on rural and agriculture finance and to serve the needs of community, by delivering financial products and services. farming 3. 3 CORPORATE MISSIONTo play an effective role in the promotion of economic growth, by enhancing the availability of credit to the agriculture sector, through reliable access to sustainable financing, special lending programs, technical assistance, products & services, and to promote career development opportunities for increasing professionalism, technical proficienc ies & trainings of employees. 3. 4 ? CORPORATE OBJECTIVES To assist rural community, particularly the small farmers, in raising their productivity and income levels through timely delivery of credit, advisory and ancillary services.To build the image of the ZTBL as a proactive, client friendly, financially & operationally sustainable with indigenous product deployment. ? ? To establish and provide backward and forward linkages to strengthen the agriculture and industrial sector. ? The ZTBL can engage in public and private, wholesale and retail partnership to deepen outreach and reduce operating cost. The ZTBL act as rural commercial bank to mobilize rural capital formation and to commercialize the agriculture sector by delivering the true value of credit to the client. ? 18 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 3. 5 RESTRCTURING PLAN OF ZTBL The restructuring means activity involving expan sion or contraction of a organization’s operations or changes in its assets and financial structure. The restructuring plan of the ZTBL covering the following factors; 1. 2. 3. Governance: The ZTBL establish an environment that facilitates good governance and accountability. Systems: The ZTBL modernize operations through use of technology, networking and communication tools. Business Processes: The streamline products and delivery systems of the ZTBL are to educe transaction costs, simplify operations, and increase outreach. 4. 5. 6. Products and Services: The ZTBL introduce products and services that are financially and economically viable. Human Resource Development: The ZTBL can improve standards and skills of staff & management and strengthen training capacity. Information Technology: The ZTBL establish new hardware and software platform to support the MIS, accounting system including forensic accounting, and risk management functions. 3. 6 BOARD OF DIRECTORS The ZTBL has one chairman, one president and ten directors. The seven eetings of the board are held during each year. The main resposibility of the BOD is to establish and maintain a system of internal control, prepare and present the financial statements with aproved accounting standard and requirement of the ‘’Banking Companies Ordinance, 1962’’ and the â€Å"Companies Ordinance 1984†. The new corporate structure redefines the bank's status as the Public Limited Company registered under â€Å"Companies Ordinance 1984†, with an independent BOD which 19 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd.Chapter 1 Introduction to Report aims at ensuring good governance, autonomy, delivering high quality. The list of the BOD is given as under; â€Å"List of Board of Director† 3. 7 COMMIITTEES & ORGANIZATION STRUCTURE OF ZTBL The overall management, functions, meetings of the ZTBL is control by two com mittees known as â€Å"Board & Management Committees†. The sub-committees of these two committees is explain as under; 3. 7. 1 Board Committees 1. Audit Committee: This committee has one chairman, four members that are the directors of the ZTBL and one secretary from the Audit Department.The designation of secretary is the â€Å"Chief Internal Auditor† of Audit Department. 2. Human Resource Management (HRM) Committee: This committee has one chairman & president of the ZTBL, four members that are the directors of the ZTBL and one secretary from the HRM Department. The designation of secretary is the â€Å"Head† of the HRM Department. 3. Risk Management Committee: This committee has one chairman & three members that are the directors of the ZTBL. But one member designation is 20 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd.Chapter 1 Introduction to Report the risk manager. But in risk management committee, the company secretary act as member and secretary as well. 4. Information Technology(IT) Committee: This committee has one convener & two members that are the directors of the ZTBL. One member is from IT Department & his designation is the Chief information officer. While one secretary (Head) of IT Department. 3. 7. 2 Management Committees 1. Assets Liabilities Management Committees: This committee has one convener (CEO) & three members. The designation of the first member is the SEVP of Operation Department.The designation of the second member is the risk manger. But the third member (Chief Financial Officer) act as member and secretary as well. 2. Executive Coordination Committee: This committee has one convener (CEO), one secretary (Compliance Officer) & three members. The designation of the first member is the SEVP. The designation of the second member is the EVP. The designation of third member is the risk manger. 3. 7. 3 Organization Structure of ZTBL: The organizational structur e of the ZTBL is shown in below diagram; 21 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 3. 8 ZONAL OFFICE AND BRANCHES In public sector, the ZTBL is largest financial development institution with a wide network of 25 zonal offices and 342 branches in the Pakistan. The network of the ZTBL Head Office is given as under; 3. 9 RANKING OF STAFF MEMBERS 22 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report The ranking of staff members in order of seniority in the ZTBL is given as under; 23 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 3. 10 SUBSIDRAY The ZTBL has one subsidiary which is known as the â€Å"Kissan Support Services Limited†. It was incorporated as owned subsidiary of the ZTBL that function independently effective from 1st January 2006. The KSSL is a separate and distinct legal entity that is controlled by the ZTBL. The KSSL has an authorized capital of Rs. 100 million. Its aim is to provide a support to the management of the ZTBL such as to focus on core banking business and assign non-core activities.The KSSL operates under the Memorandum and Article of Association. The KSSL also provide support staff and services to the ZTBL in the following areas; I. The KSSL has recruited and developed support staff of following table categories in ZTBL, Head Office as will as in field offices; No. of Employees S. No. Category of Employees Provided By KSSL 01 02 03 04 05 06 07 08 09 Darbans and Armed Guards Drivers Naib Qasids Mali / Beldars Typists, Assistants & Senior Assistants Security Supervisor Sweepers Players Others Total 526 291 54 25 41 03 07 20 15 982 ll.Besides manpower support a service, the KSSL has also provided following support services to the ZTBL; ? Provide mail management, repairing, maintenance & photographing services to ZTBL ? Recruitment and provision of staff ? Provides farms and the ZTBL Staff College. 24 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? Provide security services not only to the ZTBL Head Office but also to branches and zonal offices. CHAPTER 4 â€Å"PRODUCTS & SERVICES OF ZTBL† 4. 0 INTRODUCTIONThe ZTBL has provided many products and services for their customers. The product and services of the ZTBL can raise the living standard of rural areas and develop the agriculture sectors of a country as well. The Pakistan is an agriculture country and the products and services of the ZTBL plays very important role in increasing the GDP and accelerates economic growth. For this purpose, the ZTBL provides many facilities for their customers, such as provides schemes and loans, obviously help the customers to invest money in their businesses, to get maximum p rofit from it and to pay low interest rates. . 1 SCHEMES OF ZTBL The ZTBL provides various schemes for customers, in order to strengthen the rural and agricultural sector of econnomy, mitigate poverty and accelarte groth. The Schemes of the ZTBL is which is briefly explains as under ; 4. 1. 1 Sairab Pakistan Scheme: The ZTBL can raise the irrigated area for the purpose to accelerate rate economic growth and to facilitate the farmers. The ZTBL has assigned the collaboration agreement with the KSB Pumps Company Limited under the Sairab Pakistani Scheme.The ZTBL will provide loans to the farmers for installation of tube wells and turbines whereas KSB Pumps Company Limited will provide quality pumps, turbines, equipments to borrowers for efficient pumping of waters. The water can plays vital role to improve per acre yield. Out of total 31 million hectors area of the Pakistan, 22 million hectors is cultivated while 9 million 25 Institute of Management Sciences, Kohat University of Scienc e & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report hectors is not cultivated & waste mainly due to non-availability of water.More over increase in water supply being a key input is required to raise cropping intensity and hence the income of the farmer. Since inception the ZTBL financed over 143000 tube wells amounting to Rs. 15 billion. The KSB Pumps Company will provide quality machinery and equipment for efficient pumping of water. The company shall also provide after sale service including replacement of parts and availability of spares through its network of dealers despite technological advancements and rapid growth of industrial sector, agriculture is still the back bone of the Pakistan's economy.It contributes 22% towards the GDP and employs nearly 45% of country's labor force. It provides raw material for preparation of industrial products. So it has both pulled & pushes effect on the economy. 4. 1. 2 Supervised Agriculture Credit Scheme: Under this s cheme agriculture loans are given for short, medium and long term loans up to Rs. 1 million per borrower. The loans are sanctioned for fats, livestock, orchard, tractor, agricultural machinery, tube well and irrigation facilities.Under the scheme besides provision of credit, information is to the farmers for planning the farm, production, guidance for implementation of the scheme, marketing and repayment of loans. 4. 1. 3 White Revolution Scheme: In order to modernize the dairy farming for increasing milk supply, mitigate poverty in Pakistan, and improving the living standards of the rural areas in Pakistan for the purpose to achieve growth and development in agriculture sector of Pakistan, the ZTBL may start the â€Å"Strategic Partnership† agreement with the Pakistan Development Diary Company (PDDC) and the Nestle Pakistan Limited (NPL) under the white revolution scheme.Under this participatory approach, the diary sector would be modernized with a view to increase milk supp ly, mitigate poverty and improve the living standard of the rural population. The ZTBL has earmarked funds to the tune of Rs. 5000 millions for financing of 50,000 animals (buffaloes and imported cows) during the five years period 2007 to 2011. The 26 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report PDDC will also help the ZTBL in the selection of clients and processing of loan cases.Initially the schemes will be for modernization of 5000 farmers during 5 years period involving Rs. 700 million. Under the scheme 1000 farms would be covered on yearly basis. The modernization of dairy farm will be carried out through financing milk cooling tank, generator, voltage stabilizer, hot water geezer, water pump, cooling pad and other dairy equipment. There would be maximum limit of loan of Rs. 1 million per borrower party. The PDDC would bear the entire amount of mark-up charged in the loan cases & provided t he 50% of principal part of loan is repaid in time by the borrower.The remaining 50% amount of principal along with the amount of mark-up would be paid by the PDDC. The Nestle Pakistan Limited would help to select and identify good clients for the ZTBL to improve quality breed of foreign and local dairy animals. The NPL can provide technical guidance to the farmers through nestle veterinary doctors. The NPL would purchase milk through its network and make weekly payments of milk sale to the ZTBL for the adjustment of loan. 4. 1. 4 Micro Credit Scheme: This Scheme has been launched since 15th July, 2000 for the uplift of rural poor.The landless poor such as; tillers, harries and small land owners having land not exceeding 2 acres may avail loan under Micro Credit Scheme. It is operational in all branches of the ZTBL through all the Mobile Credit Officers. Both, men and women may obtain loans under the scheme as an individual or as a member of group of 5-10 members. The minimum credit limit is Rs. 5,000 while maximum credit limit is Rs. 25,000. One hundred and thirty six income generating activities or cottage industry items have been identified for lending under the scheme.The loan may be advanced against one surety with 50% solvency of the assessed value of property owned by the guarantor or security of tangible property. Being small loans involving high cost 18% per annum mark-up is charged, whereas 2% rebate is given on timely repayment. All loans under these Schemes are recoverable within 18 months after disbursement of loan. 27 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 4. 1. 5 Zarkhaiz Scheme (One Window Operation): For timely and conveniently rovision of credit to purchase inputs, loans is provided to the borrowers under this scheme being conducted twice a week during Rabi & Kharif seasons. All the related departments such as revenue, agriculture, post office†¦. etc. attend the focal points which are established at convenient places. The farmers get their pass books prepared and loan applications processed on the same day whereas sanction payments are made within three days at branch. For Rabi crops, one window operation from October to January and for Kharif crops from April to September each year which is extendable as per requirement of particular area. 4. . 6 Sada Bahar Scheme: For providing timely input loans for crops and working capital for poultry and fishery etc, the ZTBL has launched a Sada Bahar Scheme. This scheme is also known as â€Å"Revolving Finance Scheme†. The assessment for inputs requirements for the whole year is made at the time of first application. The amount so assessed is treated as revolving limit provided it is within the security limit. The managers are authorized to sanction such loan limits up to Rs. 5 Lake. The salient features of the scheme are given as under: 1. 2. 3. 4. Revolving Credit Limit is fixed to cater production credit and ancillary equirements of the farmers during one year period. The borrowers can draw the credit in lump sum or in installments according to his requirement. The borrowers can repay in lump sum or in installments during the year when his cash position allows him. The Pass Book containing transactions in his account is supplied to every borrower free of cost. 4. 1. 7 Tea Financing Scheme: In order to increase the tea cultivation in Mansehra, Swat, Mutta and Dir in Malakand Division, the tea financing scheme has been introduced which would not only save the hard earned foreign exchange but would 8 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report also help to improve the socio-economic condition and living standard of the inhabitants of the area. The salient features of the scheme are given as under: 1. 2. The maximum credit ceiling of Rs. 60,000 per acre has been fi xed. All the farmers owing land up to five acres are eligible to avail loans. 3. The amount of credit will be given in three installments; the first year installment is Rs. 30,000, second year installment is Rs. 5,000 and installment is year Rs. 15,000. 4. The credit would be repayable within 11 years with 6 years grace period with prescribed markup of 9% per annum. third 4. 2 LOANS OF ZTBL The ZTBL provides loans for the development and growth of rural areas and uplift of farm activities. The loans of ZTBL are briefly explained as under; 4. 2. 1 Production Loans: These loans are given to farmers for seed, fertilizer, pesticides, labor charges†¦etc. to grow crops and vegetables including working capital for poultry, dairy, orchard and fishery and are recoverable within one and half year.The amount of disbursement of production loan, at the end of December 31, is 50,222 million for overall four provinces. The example of production loans items are given as under; 1. 2. 3. 4. 5. 6 . 7. Seeds, fertilizers and fuel Pesticides, insecticides and herbicides manual sprayers Poultry feed, chicks and medicines Hire charges of farm power Water charges and electric charges for tube well Production loan for growth of mushroom Hired labor, water rates & fuel wood for tobacco curing 29 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report . 2. 2 Development Loans: The loans for purchase of items like farm machinery, tractors, irrigation, land development, orchard, green houses, dairy, poultry, fishery, livestock, farming†¦.. etc are recoverable up to one to eight years. The amount of disbursement of development loan is 5,690 million at the end of 2007, for overall four provinces. However, the provinces wise disbursement of loans & its percentages at end of 31st December, 2007 is given as under; S. No. 1. 2. 3. 4. Provinces Panjab Sindh NWFP Balochistan Disbursement of Loans ( Rupees) 44,3 27,000,000 7,384,000,000 3,802,000,000 99,000,000 age 79. 50% 13. 20 6. 80 0. 20 Moreover, the term wise disbursement of loans of bank is on short, medium and long term basis. I. The short term loans are also called production loans having maturity period is one year. These loans are given to farmers for seed, fertilizer, pesticides, labor charges†¦etc. to grow crops and vegetables. These loans are recoverable in lump sum commencing after the harvest or marketing of respective crops. II. Medium term loans are for development and advance purposes the examples of these loans are dairy farming and livestock.The installments of these loans are made on monthly, biannually and annually basis and the recovery or maturity period is 5 years. III. The long term loans are for tractor, agricultural machinery, poultry farming, and orchard. The installments of these loans are made on monthly, biannually and yearly basis and the maturity period is 8 years and above. â€Å"Summary of Term Wis e Disbursement of Loans† S. No. 1. 2. 3. Term wise Disbursement of Loans Short Term Loan (Production Loans) Medium Term Loan (Development Loans) Long Term Loan (Development Loans ) Maturity 2months 5 years 8 years %age 89. 80% 3. 40 6. 80 30 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report 4. 3 RECOVERY PROCEDURE OF LOAN The recovery procedure of the ZTBL loan is to carried and taken by three steps such as recovery schedule, issuance of notice and legal action which is briefly explain as under; 4. 3. 1 Recovery Schedule: The recovery schedule in each loan case as per terms of sanction of loan is fixed and communicated to the borrowers after disbursement of loan.In case of default or failure in repayment of any installment on due date the mark-up shall continue to be charged and last installment due to this may differ from the amount of installments fixed at the time of disbursement. 4. 3. 2 Is suance of Notice: The ZTBL can issue notice for recovery of loan which is known as â€Å"Demand Notice†. It is issued before the due date of every installment. A legal notice is issued one month after the due date informing the borrower that if the amount is not repaid within next one month, further legal action will be taken to recover the dues. 4. 3. Legal Action: The legal action can be initiated against the defaulter if loan is not repaid even after expiry of legal notice period. Where the court in bank's favor has decreed a case, account is to be settled by recovery of amount from the auction of the mortgaged property. The bank may purchase the mortgaged property if considered feasible to dispose it off later on through auction or in any manner deemed fit for getting the best price. The bank may dispose off the mortgaged properties of defaulters for satisfaction of its dues with out intervention of courts under â€Å"Financial Institutions Ordinance 2001†. 1 Insti tute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 5 â€Å"FINANCE & ACCOUNTS DIVISION† 5. 0 INTRODUCTION OF THE FINANCE & ACCOUNTS DIVISION The Finance and Accounts Division of the ZTBL is responsible for handling the financial affairs and keeping the records of all the transactions, preparation of accounts, financial statements and budgets and to manage, distribute and reconcile funds of all zonal offices and branches of the ZTBL.Moreover this division acts as the backbone for the bank, in order to strengthen the rural and agricultural sector of Paksitan, to manage funds, mitigate poverty, capital market and investment activities. The main aim and responsibility of this division is to make policies, planning, mobilization and administration of the bank's financial resources such as products and services. This division provides schemes and loans for small and large farmers. By 32 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report etting loans and register with schemes, the farmers can invest money in their businesses and to get maximum profit from it and to pay low interest rates. This division manages the bank’s financial relations with the objectives of providing loans to borrowers. The ZTBL lends money to the individuals or corporations for consumption or investment and charge interest on the loans. But besides this, finance is the science that deals with the funds management such as saving and lending money while account is a record of financial transactions for an asset or individual.In other words, an account is an arrangement between a buyer and a seller in which payments are to be made in future. In short, this division can a gain a tremendous importance over the other division in the ZTBL, through its functions and truly be called as the backbone for the bank, in order t o manage funds, mitigate poverty and increase the living standard of people of rural ares. 5. 1 FUNNCTIONS OF FINANCE & ACCOUNTS DIVISION This division mainly deals with concept of time, money and risk and how they are interrelated. It also deals with how money is budgeted.However, finance works most basically through individuals and business organizations depositing money in a bank. The main functions of the FAD is given as under; ? To providing proactive financial policy, timely strategic financial planning and risk management. ? ? To managing the bank’s assets and liability portfolio. To prepare, prompt and accurate financial reporting and preparing audited financial statements for the bank's annual report. ? To overseeing internal controls in the processing of financial transactions accounts, budgets, and credit of the bank. To reconcile funds of all zonal offices and branches of the ZTBL. 33 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To administer, monitor and control the bank’s loan and portfolios, including management and disbursement of loans. To manage the cash inflows and out flows. To maintain a books of accounts. To coordinate and facilitate a business planning, budgeting and to formulate the budgeting estimates of revenue and capital expenditure. To manage and rectify the accounts of zonal offices and braches.To consolidate all the financial statements of zonal offices and braches, in order to make financial decisions. To prepare quarterly, semiannually and annual financial statements and its agenda for presentation to the Audit Committee and the BOD & also to prepare annual capital adequacy ratio for certification by external auditors This division ensuring that all financial obligations are met and collections are made. ? ? ? ? ? ? ? 5. 2 CLASSIFICATION OF FINANCE & ACCOUNTS DIVISION In order to classify the finance and accounts division of ZTBL, there are four epartments, which plays very important role in financial affairs and keeping the records of all the transaction, preparation of accounts, financial statements, budgets and to manage, distribute and to reconcile funds of all zonal offices and branches of the ZTBL Heads Office. The four departments & their sub unit of the FAD are given as under; 1. Central Accounts Department (CAD) ? Policy Unit ? Accounts Unit ? Tax Unit 34 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? Fixed Asset Unit (FAU) ?Pre-payment Verification Unit (PVU) 2. Head Office Accounts Department (HOAD) ? Payroll Unit ? Fund Unit ? Payment unit ? Intra Branch Transaction (Reconcilitation) Unit (IBTU) 3. Regulatory Reporting Department (RRD) ? Regulatory & Internal Reporting Unit (RIRU) ? Financial management Information Unit (FMISU) 4. Budget & Fund Reconciliation Department (BFRD) ? Budget Planning Unit ? B udget Analysis Unit ? Treasury Unit ? Fund Reconciliation Unit (FRU) 5. 3 HIERARCHY OF FINANCE & ACCOUNTS DIVISION 35 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report CHAPTER 6 â€Å"CENTARL ACCOUNTS DEPARTMENT† 6. 0 INTRODUCTION OF CAD The CAD is abbreviated to Central Accounts Department. There are many accounting policies & procedures used in the CAD, In order to present the true financial position of he bank in financial statements, the accountants formulate the 36 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report accounting policies & procedures. This department maintains the actual or real accounts of the ZTBL.In this department, I was attached actually to maintain the real accounts which are assets and liabilities. They are responsible for both kinds of assets fixed and liquid assets and to maintain the depreciation accounts for all those assets acquired by the bank. In this department the balance sheet and profit and loss account is also prepared for financial year, to get the image in sense of profitability or loss and to make financial decisions. 6. 1 ? OBJECTIVES OF CAD Formulation & maintenance of the accounting policies & procedures with applicable accounting standards which ensure dissemination & implementation across the bank. Preparation of financial statements as per requirement of statue and to ensure the proper accounting of assets, liabilities, owner’s equity, income, revenues and expenses. 6. 2 ? FUNCTIONS OF CAD To issue the instructions relating to accounting policies & procedures and allocation of specimen signature numbers to the authorized signatories of the branches & maintenance of signature booklet. To notify the schedule of bank charges. To maintaining & updating of chart of accounts for recording of financial transactions. To prepare the periodic fina ncial statements of the bank & to deal with all related matters.To Issue the guidelines and instructions regarding periodicals closing of accounts and deductions of tax at source. ? ? ? ? 37 Institute of Management Sciences, Kohat University of Science & Technology Zarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To deal with all corporate tax matter & liaison with tax department, tax advisors, consultants†¦. etc The compilation of fixed assets schedule of the Head Office departments & branches. Follow up and collection of fixed assets schedule along with supporting documents from the ZTBL Head Office departments, zonal offices & branches.To coordinate with internal & external auditors and the SBP inspection team and to arrange credit rating of the bank. To conduct prepayment verification of sanctions pertaining to the HOAD. To perform administrative functions for the department such as, sanction of leaves & approvals for tour programs & travel allowance ? ? ? ? ? 6 . 1. 3 6. 1. 3. 1 ? UNITS OF CENTRAL ACCOUNTS DEPARTMENT Policy Unit: To device accounting procedure regarding accounting in the Head Office and branches & to circulate revision of mark-up or return rate for compliance by the branches.To deal with management latter & executive summary. To coordinate with external auditors & to arrange payments to external auditor’s bills. To arrange compliance of internal & external audit observation relating to the accounting matters of the ZTBL Head Office, zonal offices and branches. To coordinate with other departments in the Head Office on policy matters. To maintains personal files of the employees, deals with their leaves & other administrative matters, such as policy matters relating to the operation of accounts. ? ? ? ? ? 38 Institute of Management Sciences, Kohat University of Science & TechnologyZarai Taraqiati Bank Ltd. Chapter 1 Introduction to Report ? To update the specimen signatures booklet for use of authorized signatories i n the ZTBL Head Office, zonal offices & branches. To prepare bank charges schedule & there circulation among branches and submission to the SBP on half yearly basis. To allocate new GLH for accounting purpose and issue instructions those are relevant to the books of accounts. To provide guidelines to the zonal offices and branches regarding rectification, settlement of accounting errors, audit observation and adjustment of suspense account.To arrange & coordinate with credit rating of the bank & provide information regarding credit rating of the bank. ? ? ? ? 6. 1. 3. 2 ? Accounts Units: To coordinate with concerned departments of is division for timely production of statement of affairs. To arrange compilation and merger of statement of affairs and it is also provide to auditors for auditing purposes. TO compile balances under relevant group of heads from trial balances for preparation of financial statements. To prepare list of abnormal entries & balances for rectification.To deal with all matters rel