Discuss the influence of historical designers on current contemporary Assignment

Discuss the influence of historical designers on current contemporary interior design - Assignment Example The more interior designers became recognized as professionals, they began to rely on history and its concepts to create great results. This was seen in the decorating of some of the historic London mansions. History began to reflect in the designs as a way of preserving the past but yet looking toward the future. The Ancient Romans brought an influence of interiors when they demanded comfort, luxury and wealth. These are the basic elements that influence designers all over the world today. Tapestries, stonework, and lavish decorations remain popular today in other parts of the world as well as London. The ancient Romans loved quality textiles and expensive fabrics. The earliest designers emerged from the Roman Empire, however, were not given the label professional designers during that historical period. After Rome’s’ collapse, the church assumed power and many of the most creative designers were discouraged from change. Many lavish interiors were changed to quiet and simple oak panels with dark lines and more defined edges. This influence was seen all over Europe – from London to Italy. The Renaissance period emerged with many professional French inspired designers. Just as the Renaissance period brought many modern artists to the forefront, so did the profession of interior design. ... The actual profession of Interior Designers did not become known until later when it emerged from its domestic connections through education, standard setting, codes of conduct and granting of degrees. Trade and professional organizations began to form, which brought related publications such as textbooks and trade journals. Some of the earlier influences began with simple forms and visible construction as seen in many of the designs. They emphasized the quality of construction of the materials. The British influences started with floral or fauna prints and used the domestic scenes of the British countryside. Much of this is seen in the earlier wallpapers. Some earlier designers had workshops in rural areas, and used older quality workmanship techniques. The Gothic Period was a definite influence in the 1800s with the use of bold colors and bold forms. The Gothic Revival claimed a belief in the â€Å"moral purpose of art.† As a part of the Gothic Revival, designers remained tr ue to material, structure, and function of their designs. The style known as the Arts and Crafts came about partly as a reaction against the style of many items shown in the Great Exhibition of 1851. These items were very ornate, artificial, and ignored the quality of the materials used. The art historian Nikolaus Pevsner said that this exhibition showed â€Å"ignorance of the basic need in creating patterns, the integrity of the surface,† and â€Å"vulgarity in detail.† This exhibition brought about design reform from the organizers of the exhibition itself. Some of the organizers were Henry Cole, Owen Jones, Matthew Digby Wyatt and Richard Redgrave. They began to set standards for designs in order to preserve the workmanship

Culture of Cherokee American Indians Essay Example for Free

Culture of Cherokee American Indians Essay Scholars differ on where the Cherokee subculture came from and when they arrived on their traditional lands in the Southeast. The archaeological record of human occupancy of the Southeast goes back to at least 10,000 B. C. (Muller, 1978, p. 283; Canouts and Goodyear, 1985, p. 181), but this does not mean the Cherokees, or even their very distant ancestors, were there that early. Cherokees, as Cherokees, did not exist nearly so far back in time, nor did they necessarily emerge from the first or even from early occupants of the Southeast. The Cherokees as a more or less distinct American Indian people seem to be at the very most only one or two thousand years old. They may have developed from other American Indian peoples already in the Southeast, or they may have migrated there from another region. The Cherokees say they and other human beings were created after plants and animals were made. Plants and animals were told by the creatorthe Cherokees do not know who he or she wasto stay awake for seven nights and watch the world. Most could not do so. Of the plants, only the spruce, cedar, pine, holly, and laurel trees were able to watch so long: that is why they are now green all year. Of the animals, only the owl, the panther, and a few others were able to stay awake: that is why they see at night and prey on those who must sleep. Human beings were then created: At first there were only a brother and sister until he struck her with a fish and told her to multiply, and so it was. Seven days afterward the girl had a child; another came seven days later, then another, and so forth, and the human beings increased very fast until there was danger that the world could not keep them. Then it was made that a woman should have only one child in a year, and it has been so ever since (Mooney, 1982, p. 240). The Cherokees do not now know when or how some humans first became Cherokees. Almost certainly they had their origins in an ancient time, distinct from the present, when things were not as they are now. The Cherokees think they may even have emerged from the ground after other human beings were created, for it is said there is another world under the surface, identical except that the seasons are different. According to the Cherokees, The streams that come down from the mountains are the trails by which we reach this underworld, and the springs at the heads are the doorways by which we enter it, but to do this one must fast and go to water and have one of the underground people for a guide ( Mooney, 1982, p. 240). Some scholars have asserted that this is where the name Cherokee came fromgiven them by their neighbours. The scholars have argued that Cherokee means cave people, for the Cherokees are said to have come from under the ground (Reid, 1970, p. 3) and also lived in a mountainous land full of caves. The eighteenth-century trader James Adair asserted that the name came from the (apparently Cherokee) word chee-ra, meaning (sacred) fire, forming cheera-tahge, or men possessed of the divine fire (Adair, 1930, p. 237). Probably the name is from the Creek chilokee, people of a different speech, as John W. Swanton has stated; perhaps it is the name from which the form Chalaque was derived (Swanton, 1985, p. 49-50). The anthropologist John Witthoft supported this interpretation, based on his work with Eastern Cherokee informants: The name came from the Creek, Celokokalke, people of another language. He asserted, The Creek name by which the Cherokee were first known to Europeans became the general name for them in the Southeast, and was soon accepted even by the Cherokee themselves; names for other tribal groups have come into existence after a similar fashion (Witthoft, 1947, p. 305). The Cherokees commonly called themselves Tsalagi or, in the plural, Ani-Tsalagi, perhaps corrupted to form the name Cherokee or perhaps derived from the same word as Cherokee. According to James Mooney, their proper name for themselves was Yunwiya or, in the plural, Ani-Yunwiya. It means, more or less, the people, the real people, or the principal people (Mooney, 1982, p. 15). Tradition played an important role in Cherokee clans. It made sure certain elements of a culture from generation to generation were passed down. Such as, the traditional matrilineal Cherokee family structure, which means descent, is traced through the female line (Conley, 2002). The children belonged to the mother and her family clan. There was not any relatedness with the father and he’s family clan. This family structure provided a safe and secure environment for women and children. Also, it meant the man lived in the wife’s house, surrounded by her clan’s people, so he would not dare to abuse her unless he wanted a tribal beating. Women were largely incorporated into the tribes. Not only was she the head of her domain with mutually respected power and authority, she had equal say in the affairs of war and peace. She was also in charge of the household and nourishment of her family. The women were involved in many functions of daily life. It seems as if the women were the tribe, but not for long. Years after the first American contact, European traders living amongst would marry Cherokee women. European traders could not accept that fact of tracing descent through the female line, but slowly the clan system gave into the European style bilateral family, which traced descent through both male and female (Conley, 2002). The Cherokee were not too happy with this movement. It jeopardized the Cherokee’s clan traditional ways of a matrilineal family structure carried on for many centuries. Nevertheless, the Cherokees could do nothing about it. Before the first known contacts, life of the Cherokee nation had grown and thrived for many years in the south-eastern United States in the lower Appalachian Mountains in states such as: Georgia, Tennessee, North and South Carolina, and parts of Kentucky and Alabama. However, in less than thirty years, after the first recorded contact with outsiders, in particular with Hernado De Soto in his expedition of 1540, the Cherokee Indians reformed their culture. Many adaptations took place which resembled similar American cultures. The Cherokee soon built schools and court systems. This infuriated Andrew Jackson, a supporter of the Indian removal policy. After awhile, George Gist, also known as Sequoyah, established a Cherokee written language, utilizing an ingenious alphabet of 86 characters in 1821 (Ehle, 1925). Soon, this was adopted into Cherokee culture and a newspaper was formed. Again, Andrew Jackson grew more furious. He wanted the Cherokees removed off their lands. In 1830, United States Congress passed an Indian Removal Act pushed by President Andrew Jackson following the recommendation of former President James Monroe in his final address to Congress in 1825 (King, 1979). This act enforced the previous Georgia Compact of 1802, since many were ignoring that removal act. But, many opposed this Indian Removal Act ratified by congress. After debates over this issue, the oppositionist won. However, Andrew Jackson was able to reinforce the act, due to the Treaty of New Echota on Dec. 29, 1875 (Conley, 2002). The signing of the Treaty of New Echota set the stage for the beginning of Cherokee extermination. The treaty signed away the entire remaining tribal territory east of the Mississippi in exchange for five million dollars and the right to occupy lands west of the Mississippi (King, 1979). Major Ridge, John Ridge, Elies Boudinot, and the rest of the Treaty Party doomed the whole Cherokee Nation when they agreed to sign a fraudulent treaty with the federal government, which did not represent the Cherokee Nation as a whole (Martin, 2001). The Ross Party, people who oppose the removal treaty, tried to resist, but nothing else could be done. This removal process started what was to be known as the â€Å"Trail of Tears† or â€Å"Trail where they cried. † This forced migration journey consisted of thirteen groups of consecutive waves led by Cherokee captions that lasted from August 28, 1838 to March 18, 1839 (Conley, 2002). Over the journey many Cherokees died, approximately, four thousand out of sixteen thousand, due to diseases, exposure, or fatigue (Martin, 2001). The history of the Cherokee people is one of defeat and despair. After the first encounters with Americans, the Cherokee Nation was deteriorating. For instance, Cherokee family structures were changing, vast amounts of lands were being ceded to Americans, and Cherokee Indians were forced from their lands. Overtime, this constant chipping away at the Cherokee Nation, lead to the final Indian removal from homelands and the demise of the Cherokee Nation in southeastern United States. References Adair, James. (1930). Adairs history of the American Indians. Johnson City, Tenn. : Watauga Press. Canouts, Veletta, and Goodyear, Albert C. (1985). Lithic scatters in the South Carolina Piedmont. In Structure and process in southeastern archaeology, ed. Roy S. Dickens Jr. , and H. Trawick Ward, (pp. 180-94). University: University of Alabama Press. Conley, Robert, J. (2002). Cherokee. Portland: Graphic Arts Center Publishing Co. pp. 24-5, 44. Ehle, John. (1925). Trail of tears. New York: Doubleday Dell Publishing Group, Inc. King, Duane, H. (1979). The Cherokee Indian Nation. Knoxville: The University of Tennessee Press. pp. 16, 129. Martin, Ken. (2001). History of the Cherokee. Retrieved February 13, 2006 from cherokeehistory. com Mooney James. (1982). Myths of the Cherokee and sacred formulas of the Cherokees. Nashville: Charles and Randy Elder. Muller Jon D. (1978). The Southeast. In Ancient Native Americans, ed. Jesse D. Jennings, (pp. 281-325). San Francisco: W. H. Freeman. Reid, John P. (1970). A law of blood: The primitive law of the Cherokee Nation. New York: New York University Press. Swanton, John R. (1985). Final report of the United States De Soto Expedition Commission. Washington, D. C. : Smithsonian Institution Press. Witthoft, John. (1947). Notes on a Cherokee migration story. Communicated by W. N. Fenton. Journal of the Washington Academy of Sciences, 37, 304-5.

Three Strikes Law Essay -- essays research papers

Today there is a growing awareness of repeat offenders among society in reference to crime. Starting around 1980 there was noticeable increase in crime rates in the U.S.. In many of these cases it was noted that these individuals were in fact repeat offenders. So, on March 7, 1994 California enacted the Three-Strikes and You’re Out Law. This laws and other laws like it are currently being utilized today all around the Untied States. This law was first backed by victim’s rights advocates in the state to target habitual offenders. The reason California holds the most importance on this law is due to the fact that it has the largest criminal justice system in America, and it has the most controversy surrounding this law in particular.(Auerhahn, p.55) The roots of this law actually come from Washington State. This state was the first state to actually pass a no-nonsense three strikes policy. The first movement toward this began in the summer of 1991 as research project for the Washington Institute for Policy Studies. The main goals for the project were to examine and review the current practices of sentencing career criminals, and to make recommendations as needed. The researchers wanted anyone who as convicted of a third serious felony to be sentenced to life without the possibility of parole. They wanted there to be no sympathy whatsoever for the criminals. This law was not enforced there until December 1993. (Lacourse, p.1) In California, the most notable reasons for this law were promoted by Fresno resident, Mike Reynolds. In 1992, his daughter was attacked and murdered by two men whom were parolees. The gunman was killed in a shoot-out with police, while the other offender only received a nine year prison sentence. This outraged many, including Mr. Reynolds. He then approached two democratic assemblymen, then they drafted the first three strikes bill, which was defeated. Mr. Reynolds kept campaigning to help pass this bill. He soon got most of his backing from another case, the Polly Klaas case. In this incident a twelve-year old girl was abducted from her bedroom in San Francisco and murdered by Richard Allen Davis. Davis had a lengthy criminal history, and had been released from prison bore he committed this heinous crime. This very case became the public’s main tool in wanting to put an end to â€Å"career criminals.† So, in 1994 the bill was finally pas... ...e data I gathered from both sides of the argument, I have come to a conclusion on whether the law is just. Personally, I feel these laws are not as harsh as some people have made them out to be. We must tackle criminals of any kind to maintain a good society. How can we have this good society if habitual offenders keep polluting it? Deterrence seems positively correlated with the facts I presented in the argument that supported the Three Strikes law. Crime went down with the implementation of these laws. My overall thoughts are that if a person cannot grow and learn from their mistakes to become better individuals, then they must be taken off our streets. Criminals are just that C R I M I N A L S. Certain crimes serve as stepping stones to more violent crimes. The threat of these long sentences may stop a second time offender from committing their third offense. This law can help reduce the prison population by serving as a deterrent to these potential repeat offenders. I agree with this utilitarian method of law. The greater good is served by getting them of the streets. The punishment of the criminals definitely benefits society, and finally there is a means to reach an end.

Miami is a Commuter’s Nightmare :: Traffic

Miami: A Commuter’s Nightmare Several surveys have shown the city of Miami to be one of the least preferable cities in which to drive. Every morning there is an exodus of Biblical proportions, as thousands or cars tightly pack into highways six lanes wide. More discouraging about driving in Miami is the mind-numbingly slow pace with which traffic moves. Moreover, bumper-to-bumper traffic causes many minimal damage accidents that ironically have larger, more negative, effects on traffic congestion than they actually should. Other factors such as construction and aggressive drivers create more hazardous conditions for commuters. The roads and highways of Miami are a world of danger that creates the unpleasant experience it is to drive in Miami. The most noticeable inconvenience of driving in Miami is traffic congestion. In fact, because the highways are cluttered with a significant amount of vehicles carpooling is encouraged. For this purpose, high-occupancy vehicle (HOV) lanes were formed. Each weekday, a simple twenty-minute drive turns into an eternal wait for forward progress. With each minute that goes by cars advance less than twenty feet. And while the traffic may open up in some areas, in its entirety I-95 remains congested during the morning and evening hours, as seen in the image where cars on the South Florida Highways line up bumper-to-bumper. The cause for such highway clutter varies, but it is interesting to note the difficulty in explaining highway driving conditions. It is uncertain as to whether the accidents cause traffic congestion or the traffic congestion causes accidents. Either way, the main roads and highways commuters take to work are crowded with drivers. Furthermore, I-95 passes through several c ommercial districts in the lower Miami area. Many large trucks and commercial vehicles, as well as passenger vehicles, drive to work at these commercial areas. The weekday traffic congestions on the Miami roadways are, in large part, a major inconvenience to commuters, all with intent to arrive early to work. Car accidents pose as the second most noticeable inconvenience for commuters in Miami. In many occasions traffic accidents cause a hold-up of traffic. Take for example, the oil taker explosion on I-95 on November 6, 2006. A massive tanker truck, carrying loads of fuel, flipped over the highway over pass and onto NW 135 Street, a street that runs through one of the busiest commercial areas. The accident occurred on a Monday morning, while the rest of Miami was commuting to work.

Medical Ethics Essay

Medical interventions always possess two possible outcomes in every situation or case. The principle of double effect is the actual ethics that governs the conditions of alternatives. The main concept that it utilizes is the thought that persons are faced with decision that cannot be avoided and, in the circumstances, the decision will cause both desirable and undesirable effects. Considering the value ethics involved in every intervention implemented, the risk factors should always be considered. Essentially speaking, the principle of double effect involves the critical assessment of the situation considering the fact that the choices being made greatly impact a life of an individual. In an ethical controversy of maternal-fetal conditions wherein the mother is suffering from a case of complications that lead to the severe necessity of evacuating the conception product. The case possesses no other alternatives, and has greatly compromised both life conditions of the mother and the fetus. Moreover, if medical intervention is not implemented as soon as possible both lives shall be endangered severely. In some part of logical implication, some might categorize such action as direct attempt of killing; essentially since, either of the mother’s life or the fetal life needs to be sacrificed in order to save one. In such case of saving life through resuscitation, if the significant relatives or others imposed the negation of such life saving treatment for the patient provided with the considerations of higher good than evil, it is not considered anymore as actions of euthanasia nor direct killing. The medical provider is not anymore liable if incase the patient suffered from any untoward conditions that requires resuscitation, however in the end resulted to death, as it is already a directed will of the patient and the support groups. The principle of total effect protects no singular parts or single levels of life. In fact, it does even consider the whole or total person as a whole. The whole or total person is what is sacred and has rights. To promote parts or lower levels independently of the person’s totality would violate just the quality of life considerations. The medical provider should consider the treatment interventions not only for the benefit of a single part, but rather every aspect of the whole body, such as the effect of the therapy or medical intervention on other parts of the body. Psychotherapy involves the utmost obligation to facilitate the psychological health and well-being of the society. As far as medico-ethics is concerned, psychiatrists possess such responsibility of conjuring psychological health to the people. Such principle involves the concept of the divine as well as the societal requirement of psychological health linked together with the guidelines of psychotherapeutical interventions. Such principle considers man as a psychic unit and total aspect of a person as a whole. Considering the fact that man functions as a whole, psychiatric therapy should revolve in every aspect of a person not only on particularities of disease, disorder, or signs and symptoms but rather as a whole unified being. However, still in response to this perspective, the concept of the individual should still deal in the specifics and objective details of an individual. The guide protocols of this principle are the fact that man is a unified unit of the community that requires social interactions, and morality considerations over the psychological interventions. Rights to Health Care The general principle of health care greatly considers that every individual possesses the right to have unconditional, indiscriminate, and with no considerations on an individual’s society. The rights of health care, by law, divine protocols and natural necessities, should be ethically available for every individual. As for the ever conjuring issues in terms of impairment of the delivery of health care, it is both the responsibility of the patient and the health care provider to facilitate maximum health care potential. The health seeking behavior is expected for the patients requiring health care needs as their responsibility, while health care information dissemination, motivation and encouragement are the ethical duties of the health care providers. With the advent of managerial, profit-oriented and progressive modernization, the principle of the health care basic right is arguably being violated in some sense. As the fact states, at least 35 million Americans cannot afford proper health care delivery system for them due to either expensive medical insurance requirements or poverty. As for the both interacting requirement, most of the public, especially those living in or below poverty line, undeniably obtains their medical care from governmental provisions, which are not always sufficient to consider every individual’s health care needs. In fact, Medicaid insurance, which is a public insurance firm that caters mostly for the financially incapacitated individuals, is extensively and progressively increasing. However, the worst case of such Medicaid provision is that sickness status possesses a marginal requirement to consider a person a candidate for health care treatment. In such case, the health care status of these individuals worsens before they can even attain their due medical interventions. Another controversy is the rising patients of Medicare insurance, which is a public governmental firm that caters to elderly health care welfare. Due to the increasing number of those that cannot afford geriatric care necessities, the last option for these elders is to obtain the care that the government hospitals provide. However, there are cases wherein these elderly incapacitated individuals are being eagerly discharged by the hospital. Adding on to the situation is the increasing profit-oriented hospital firms, which perceives delivery of care as business-money-earning sources. Such condition is beginning to coincide and dominate the health care market, which if not regulated, may even caused further decline of health care obtainment by the public due to financial incongruencies. Considering that the incidence of poverty in the public is increasing, incapabilities of health care insurance to support the appropriate and adequate requirements of their beneficiaries, and the increasing incidence of profit oriented hospitals, greatly contributes to the health care scarcity and health care status of the society. Essentially speaking, such condition possesses the possibility of aggravating the morbidity and mortality ratings in the society. Such case is considered indeed as violations of the ethical principle of right of health care. On the contrary, such protocols are necessary in order to keep the hospital and medical insurance organizations surviving. Although, the evident consequence of such scenario is the increasing individuals suffering from health care impairments. As far as the ethical principle, rights of health care, is concerned, such occurring scenario violates the fundamental ethics of health care. Suffering Even with subjective evidences or manifestations, the concept of suffering seems central for the most fundamental concerns of bioethics. Suffering is in part constituted by the experience of a profound evil, as the Old Testament denotes, or threat to our sense of self and identity that we are unable to control. IT is the experience of the inexplicably arbitrary and typically destructive. Suffering is not of course an end of religious experience but a problem demanding interpretation. Religions traditions have historically tried to give meaning to suffering by placing the experience in a context of broader questions about ultimate purpose in life, and even human destiny beyond life. Suffering is knowledge of evil but is not evil in itself. Frequently its existence serves as a helpful spiritual or physical warning that something is amiss. Physical pain is often first sign of a serious illness; it informs us that something has gone wrong and that we need medical assistance. Of course, sometimes we become aware of evil but are unable to do anything about the situation. The evil is not in our knowledge of a certain state of affairs but in the state of affairs themselves. While we experience our knowledge of these evils as suffering, the knowledge itself remains a basic good. As salvation denotes liberation from evil, Christ liberates man from sin by means of His cross, that is, by means of suffering. The work of salvation is a labor of suffering. Every person is called to participate personally in that suffering through which our redemption has been accomplished and through which all suffering was redeemed. Suffering, symbolizes by the Cross, is the one universal door through which all must pass to enter the kingdom of God. While on the human level suffering is an â€Å"emptying,† on the divine level it is a glorifying or a â€Å"filling up† and an invitation to manifest the moral greatness of man. The glory of suffering cannot be seen in the martyrs, but also in those who, while not believing in Christ, suffer and give their lives for the truth. As for a Christian perspective, suffering is an opportunity for everyone to experience the power of God and share in the work of redemption. In the midst of each individual’s suffering, Christ is present to share that person’s suffering-just as He invites each of us to share His sufferings. This inter-participation of suffering unites our sufferings and Christ’s sufferings, as well as uniting us with Christ personally. In terms of the medical ethics application, suffering is for both patient and the health care provider to share; however, one must not join each one and extend the same negative feelings but rather, facilitate as the motivator and alleviator of sufferings. The greatest part of relieving the patient from the occurring suffering is on the part of the health care provider, as they are the ones who are responsible for the alleviation of such condition. The suffering of undergoing the case of alleviation and the suffering of alleviating the patient itself are the two considered faces of suffering, which has to be considered in every ethical case action. In is indeed necessary to think that the difficulties imposed by the situation is carried by both interacting parties and not one alone.

Free Essays on Lord Of The Flies Book Vs Film

Lord of the Flies Essay Did Brooks’ film accurately convey the original meaning of Golding's novel? William Golding, a remarkably talented writer, created this intriguing timeless classic, Lord of the Flies. The novel’s unique and mysterious style generated a torrent of interest. Even today, more than 30 years later, exhausting analysis’ of his novel are being attempted. I found this novel to be extraordinary. It is overflowing with subtle yet profound meaning and truths about humans. It is detailed, and contains intricately and strongly developed characters and relationships. The symbolism in the story is fascinating and extensive. This is why this novel is such a challenge to condense into a 90 minute film. One of the most important themes in the novel is evil, and the manifestation of fear and monsters as a result of the young boy’s inevitable evil within. The boys on the island are severed from civilization and they’re terrified, thus they fabricate a monster, a â€Å"beastie,† to justify their fears. In the novel an insightful suggestion is made by Simon, â€Å" ‘What I mean is... Maybe it’s only us.’... Simon became inarticulate in his efforts to express mankind’s essential illness.† (p.89) The theme of inner-evil becomes more evident as it is further developed in the novel. Simon has a â€Å"conversation† with The Lord of the Flies (the pig’s head) that is key to the story; the truth about the boys emerges. â€Å"There isn’t anyone to help you. Only me. And I’m the Beast... Fancy thinking the Beast was something you could hunt and kill!... You knew, didn’t you? I’m part of you? C lose, close, close! I’m the reason why it’s no go? Why things are the way they are?’† (p.142) However in the film, the theme of a manifestation of evil isn’t clear, and the Lord of the Flies scene was left out. For me the most interesting and thought provoking character in the novel is Simon. In... Free Essays on Lord Of The Flies Book Vs Film Free Essays on Lord Of The Flies Book Vs Film Lord of the Flies Essay Did Brooks’ film accurately convey the original meaning of Golding's novel? William Golding, a remarkably talented writer, created this intriguing timeless classic, Lord of the Flies. The novel’s unique and mysterious style generated a torrent of interest. Even today, more than 30 years later, exhausting analysis’ of his novel are being attempted. I found this novel to be extraordinary. It is overflowing with subtle yet profound meaning and truths about humans. It is detailed, and contains intricately and strongly developed characters and relationships. The symbolism in the story is fascinating and extensive. This is why this novel is such a challenge to condense into a 90 minute film. One of the most important themes in the novel is evil, and the manifestation of fear and monsters as a result of the young boy’s inevitable evil within. The boys on the island are severed from civilization and they’re terrified, thus they fabricate a monster, a â€Å"beastie,† to justify their fears. In the novel an insightful suggestion is made by Simon, â€Å" ‘What I mean is... Maybe it’s only us.’... Simon became inarticulate in his efforts to express mankind’s essential illness.† (p.89) The theme of inner-evil becomes more evident as it is further developed in the novel. Simon has a â€Å"conversation† with The Lord of the Flies (the pig’s head) that is key to the story; the truth about the boys emerges. â€Å"There isn’t anyone to help you. Only me. And I’m the Beast... Fancy thinking the Beast was something you could hunt and kill!... You knew, didn’t you? I’m part of you? C lose, close, close! I’m the reason why it’s no go? Why things are the way they are?’† (p.142) However in the film, the theme of a manifestation of evil isn’t clear, and the Lord of the Flies scene was left out. For me the most interesting and thought provoking character in the novel is Simon. In...

Free Essays on Sears And Information Technology

CONTENTS BUSINESS ISSUE†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦.2 LITERATURE REVIEW†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦.†¦2 SCOPE OF THE CASE†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..8 COMPANY PROFILE†¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....9 PROBLEMS AND CHALLENGES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦..11 IMPLEMENTATIONS†¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..12 ALTERNATIVE SOLUTIONS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦14 BENEFITS OF INFORMATION TECHNOLOGY†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..16 INFORMATION TECHNPOLOGY STRATEGY†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.16 IMPLEMENTATION PLAN†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..18 EXPECTED IMPACT†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.23 EXPECTED RESISTANCE†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦24 FUTURE OF IT AND SEARS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦25 REFERENCES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦27 BUSINESS ISSUE The name Sears always comes to mind when talking of American retailing. This giant retailer was the leader for the better part of the twentieth century. It remained at the top spot until the 1980’s. Then, it switched its focus from retailing to services such as credit cards and insurance in an effort to gain access to other markets and industries. This decision allowed other retailers, such as Wal Mart, to take advantage and eventually surpass Sears. In the early 1990’s, Sears began selling off many of... Free Essays on Sears And Information Technology Free Essays on Sears And Information Technology CONTENTS BUSINESS ISSUE†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....†¦.2 LITERATURE REVIEW†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦.†¦2 SCOPE OF THE CASE†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..8 COMPANY PROFILE†¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....9 PROBLEMS AND CHALLENGES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦..11 IMPLEMENTATIONS†¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..12 ALTERNATIVE SOLUTIONS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦14 BENEFITS OF INFORMATION TECHNOLOGY†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦..16 INFORMATION TECHNPOLOGY STRATEGY†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.16 IMPLEMENTATION PLAN†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..18 EXPECTED IMPACT†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.23 EXPECTED RESISTANCE†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦24 FUTURE OF IT AND SEARS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦25 REFERENCES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦27 BUSINESS ISSUE The name Sears always comes to mind when talking of American retailing. This giant retailer was the leader for the better part of the twentieth century. It remained at the top spot until the 1980’s. Then, it switched its focus from retailing to services such as credit cards and insurance in an effort to gain access to other markets and industries. This decision allowed other retailers, such as Wal Mart, to take advantage and eventually surpass Sears. In the early 1990’s, Sears began selling off many of...

Une Fois Que Uses the French Future, Not Subjunctive

Une Fois Que Uses the French Future, Not Subjunctive Une fois que  (once that) is a type of conjunctive phrase that does not take the subjunctive because it expresses facts, which are considered certain; this makes the subjunctive unnecessary in this case. On the other hand, there are many more conjunctive phrases that do express uncertainty and, thus, do require the subjunctive. Future Tense With These Conjunctive Phrases, Not Subjunctive The subjunctive  mood  is dedicated to expressing actions or ideas that are uncertain and subjective, such as will/wanting, emotion, doubt, possibility, necessity, judgment. Une fois que and other conjunctive phrases like it are usually followed by the  future  tense, not the subjunctive, as illustrated below: Je lachà ¨terai une fois quil arrivera.Ill buy it once he arrives.Mangeons quand il arrivera.Lets eat when he arrives.Une fois que tu aura compris, tout sera plus facile.Once youve understood, everything will seem easier. Note that there are a number of idiomatic expressions that contain the word fois, such as une fois, cette fois-ce, bien des fois and encore une fois, but they are not relevant to understanding the verb tenses that the conjunction un fois que requires. Other Conjunctive Phrases Like Une Fois Que Here are more conjunctions that  do not  take the subjunctive because they express facts, which are considered certain and, thus, contrary to the subjectivity of the subjunctive: ainsi que   just as, so asalors que  Ã‚  while, whereasaprà ¨s que**  Ã‚  after, whenaussità ´t que**  Ã‚  as soon ascar  Ã‚  since, becauseen mà ªme temps que  Ã‚  at the same time thatdepuis que  Ã‚  sincedà ¨s que**  Ã‚  as soon as, immediatelylorsque**  Ã‚  whenparce que  Ã‚  becausependant que  Ã‚  whileplutà ´t que  Ã‚  instead of, rather thanpuisque  Ã‚  since, asquand**  Ã‚  whentandis que  Ã‚  while, whereasune fois que**  Ã‚  once **These conjunctions would be followed by the  future tense  in French, while in English we use the present tense.

Plymouth Plantation Essay Example | Topics and Well Written Essays - 1250 words

Plymouth Plantation - Essay Example The book describes the first Thanksgiving and about the brave pilgrims who were in search of religious liberty. The description of Mayflower is a new kind of telling a story that goes up through King Philip's War in 1675-76. The bloody war was fought between the English and the Native Americans that resulted in the death of hundreds of English and thousands of Native Americans. The Native Americans were the Indians and most of them were killed and the remaining were starved to death or deported or sold as slaves. After the war independence of native New England was broken. The next 250 years was repetition of the history between the English (white Americans too) and the Native Americans. The Indians weren't in a mood to accept the new visitors or the white Americans. As the number of white settlements increased the insecurity among the Indians also increased. Each day passing the whites were moving closer to the natives and were more powerful than the Indians. The whites were growing in number and stature. Since the two sides need different things and respect different values, grievances build up. They weren't in a mood to understand each other and stopped trying to understand each other's values, the result was bloodshed and finally the Indians lose. The Indians were illiterates and didn't make any effort to write their side of story and their own history. The Thanksgiving Day was declared a national holiday by the then president Abraham Lincoln. Lincoln describes the Pilgrims as national heroes who remind the Americans of their roots. Squanto was the Pilgrim's trusty English speaking interpreter; to take Massasoit's place he made every effort to turn the English against him. The result was a bloody preemptive attack on a Massachusetts band that was led by Miles Standish and was sanctioned by William Bradford. The raiders came back with the head of a warrior as a trophy to commemorate their victory and hanged it over the fort. This resulted in a shocking wave of fear amongst the natives that made them to flee their fields and villages. When the Rev John Robinson, Pilgrim's spiritual leader came to about the raid he condemned this kind of shocking and terrorized act and denounced it in a letter to William Bradford. The naives of different tribal groups and always had complexities amongst them. They were the Pokanokets, the Nausets of Cape Cod, the Rhode Island Narragansetts, the Massachusetts near Boston and several others. These tribal groups were collectively called as Wamponoags. The English and the Wamponoags were complicated in terms of psychologically and morally and were always under various pressures. The Pilgrim village museum in Plymouth contains description and artifacts of both cultures and represents as bicultural institution. It not only represents or tells the stories of European immigration but also the encounter between them that happened centuries ago. Mostly the Whites described the Mayflower by their writings and scriptures though both cultures were involved in the arrival of the Mayflower. Since the natives were not literate as the Whites they fell behind and little was known from them. Both the cultures have equal importance and played significant role in the evolving American history. They made us to realize the importance of both the cultures and to respect them. The Indians passed

Energy Policy, BRIEFING REPORT TO THE SECRETARY OF STATE FOR ENERGY Essay

Energy Policy, BRIEFING REPORT TO THE SECRETARY OF STATE FOR ENERGY AND CLIMATE CHANGE ON FACTORS TO CONSIDER IN THE PREPARATION OF A NEW ENERGY BILL FOR THE UK - Essay Example In addition, the reform advocates for contracts of investments especially long term contracts so as to enhance early investment before the CFD regime. The power purchase agreement is also embedded in the reform to enable access to the market while on the renewable transitional, the arrangements for the mandated scheme is catered for. The provision for limitation of carbon emission has not been left out in the provision of Emission Performance Standard (EPS) (2). The other acts in the bill entail regulation of nuclear, strategy and policy statement, and consumer protection. The regulation of nuclear power plants is aimed at providing safety and security. Furthermore, the consumer protection act minimizes the number of tariffs on energy to the locals. The act enables the Ofgem to extend its licensing to other parties besides the enforcement power on Ofgem to supervise the energy business that contravene licensing conditions on electricity and gas. If consumers suffer from the breach the Ofgem provides redress. Finally, the consumer protection act amended the legislation on energy conservation and warm homes (2). The bill did not elaborate more so on the consumer protection how to deal with the menace of the ever increasing fuel prices. It failed to provide regulations on the big energy firms whose dominance have apparently hampered competition. Kevin (1) questions where the locals’ money go to in the energy sector. He illuminates that in each household the average yearly bill for gas and electricity is approximately 1,270 pounds yet the payment is pegged on the consumption and payment method. Las year the average prices for electricity for UK was forth highest in the G7 member nations. In comparison to the US, their prices for electricity and gas were the lowest. The diagram below illustrates the pricing of gas in the 15 EU countries and US. The soaring prices have left more questions

I am awesome Essay Example | Topics and Well Written Essays - 250 words

I am awesome - Essay Example Awesome managers listen to the staff since they offer insights on how to run the property better. I always share what I know with my staff not only to foster a sense of empowerment but also to make my job easier. Teaching is part of my job as I equip my staff with knowledge and skills that they can use to perform their job without constant supervision. Having regular collaboration sessions with my staff gives me a well of ideas on areas to improve in including customer satisfaction. Dedicating some little time a day to read industry news keeps me abreast with the current affairs and emerging trends in the industry (Daum, 2010). I always ask for help since I cannot pretend that I know everything. Even though everybody expects me to handle virtually everything that comes my way, I have limitations just like any other human being. I do not get embarrassed to admit not knowing an issue if confronted, and this helps me to get help from my staff. I am liberal and welcome criticisms. Instead of being defensive, I take criticism as a stepping-stone to get better at the job. I also motivate my staff and challenge them to achieve bigger. I give credit where it is due and goes an extra mile to know my staff at personal levels. I don’t micromanage my staff and always have the organization’s interest at

World War II through the 1970s Essay Example | Topics and Well Written Essays - 1500 words

World War II through the 1970s - Essay Example Other names given to this period after the world war are â€Å"long boom† and â€Å"golden age of capitalism†. It was then that the concept of economic development came into being, to eradicate poverty from nations (Kozulj, 2003). Many historic turning points took place after the World War 2 which left their impact on the history of mankind. Two Historical turning points during this period First historical turning point One of the many historical points that took place after the World War 2 was the â€Å"water scandal†, which took place in United States of America. The water scandal was a serious political scandal that took place during 1972 to 1974. Richard .M. Nixon was the president of America during this period. This political scandal changed the life of many people associated with it and it also changed the view of the American citizens toward American politics. Many serious issues were revealed during this scandal as it unveiled many dark strategies that to ok place in the political system of America. ... The war destroyed millions of life and weapons of mass destruction had a long lasting effect on the lives of the people. Some crimes committed during wars were at the crest of brutality and were considered against humanity. When the war concluded the nations realized that there is a need of an international institution which can prevent the world from such a massive destruction. Thus, the establishment United Nations Organization came into being on 1945. Effects of the above turning points on America’s current society, economy, politics, and culture Effects of Watergate scandal on America The â€Å"Watergate scandal† had a massive effect on the society, economy, politics and culture of United States. These effects were so immense that they still have their traces on the minds of people. The â€Å"Watergate Scandal† made people realizes that their blind trust on leadership may lead them to disastrous effects. The people realized that there is a need of a transpare nt political system, which can keep them updated about all the activities of their political leader. The Watergate Scandal still has its effects on modern America. The political parties after this scandal tried to change the perception of American politics. This limited the presidential power. This scandal also helped in expelling the Republican Government, which resulted in some new rights given to the people. The tax rate decreased and more libertarians’ views were encouraged. The Congress struggled to make the government more transparent for the people. Despite of all these positive steps taken which influenced America’s current society, economy, politics, and culture, the Watergate scandal has created distrust in the mind of people for their government.

Technology Management in Electronic Goods Company Essay

Technology Management in Electronic Goods Company - Essay Example We will consider the performance and demands of the products in the market in the light of the theoretical framework developed by Christensen. We will discuss the contribution of Christensen’s concepts in developing the strategy for avoiding the disruption in the market from the point of view of incumbent (Bower, 1995). We will also consider the prospects of Electra from the point of view of new emergent in the market as well as disruptors. Low-end disruption and high-end disruption scenarios will be discussed herein. Criterion or the basis for production and purchase is included. New market disruption will be highlighted in the later parts of the report. At the end, the strategies to maintain a sustained technological development in the market to avoid incurring of disruption will be described (Bower, 1995). 2. Theoretical Concepts: Christensen’s Contribution 2.1) Basic Concepts The theoretical framework of disruption in the market of existing technologies and products was laid by Clayton M. Christensen. He proposed the ideas of â€Å"Disruptive Innovation† which refers the products or values in the market that provide new dimensions or uses to customers (Bower, 1995). It focuses on providing something new in the market which is markedly different than the current products. The performance of the new products may or may not be superior to the existing technology but these items are supporting the desires of the people who are purchasing them. The term of â€Å"disruption† is often used in the realm of business which defines the phenomenon of tremendous improvement in the current technology that the existing technology couldn’t predict or anticipate (Archibugi, 1997). The innovation in the market can be introduced either by targeting a new set of consumers or lowering the prices of the existing products by lowering their performance from the current standards but keeping them above the expectations of consumers (Adner, 2002). Disruptive technology is markedly different from sustainable innovation. The latter refers to the sane series of products in the market with superior performance (Chandy, 2000). The applications could be increased with superior output. However, the dimensions of the products are kept the same. In disruptive technology, the marketers try an entirely new type of product that has no prior link to the existing technology. The new technology targets a set of consumers. The consumers may lie at lo-end or high-end of quality expectations. Their demand sets the basis for disruption of the existing products. If the new products meet the requirements of the consumers at lower performance and cost, then disruption is certainly set in (Charitou, 2012). 2.2) Intersecting Performance Projector of Sustainable Technology and Disruptive Technology The hypothesis proposed by Christensen declares the firms and companies to be climbers in performance measures. They need to upgrade their standards with time to keep up with the market requirements. The continuous rise in performance marks the existence of the company in the market. If improvement in the performance is not achieved, then it would reduce the business considerably. Christensen’s concept of the company states that the firm holds its existing â€Å"value networks† that doesn’t emphasize much on innovations in the market (Christensen, 1998). The hypothesis of Christensen focused on strategies to avoid the technological disruption in the market.

World War II through the 1970s Essay Example | Topics and Well Written Essays - 1500 words

World War II through the 1970s - Essay Example Other names given to this period after the world war are â€Å"long boom† and â€Å"golden age of capitalism†. It was then that the concept of economic development came into being, to eradicate poverty from nations (Kozulj, 2003). Many historic turning points took place after the World War 2 which left their impact on the history of mankind. Two Historical turning points during this period First historical turning point One of the many historical points that took place after the World War 2 was the â€Å"water scandal†, which took place in United States of America. The water scandal was a serious political scandal that took place during 1972 to 1974. Richard .M. Nixon was the president of America during this period. This political scandal changed the life of many people associated with it and it also changed the view of the American citizens toward American politics. Many serious issues were revealed during this scandal as it unveiled many dark strategies that to ok place in the political system of America. ... The war destroyed millions of life and weapons of mass destruction had a long lasting effect on the lives of the people. Some crimes committed during wars were at the crest of brutality and were considered against humanity. When the war concluded the nations realized that there is a need of an international institution which can prevent the world from such a massive destruction. Thus, the establishment United Nations Organization came into being on 1945. Effects of the above turning points on America’s current society, economy, politics, and culture Effects of Watergate scandal on America The â€Å"Watergate scandal† had a massive effect on the society, economy, politics and culture of United States. These effects were so immense that they still have their traces on the minds of people. The â€Å"Watergate Scandal† made people realizes that their blind trust on leadership may lead them to disastrous effects. The people realized that there is a need of a transpare nt political system, which can keep them updated about all the activities of their political leader. The Watergate Scandal still has its effects on modern America. The political parties after this scandal tried to change the perception of American politics. This limited the presidential power. This scandal also helped in expelling the Republican Government, which resulted in some new rights given to the people. The tax rate decreased and more libertarians’ views were encouraged. The Congress struggled to make the government more transparent for the people. Despite of all these positive steps taken which influenced America’s current society, economy, politics, and culture, the Watergate scandal has created distrust in the mind of people for their government.

Influence of Winthrop and Hobbes Essay Example | Topics and Well Written Essays - 1000 words - 4

Influence of Winthrop and Hobbes - Essay Example Hobbes also espouses ideas concerning equality stating that despite people living in different conditions in life, nature has made all men equal and because of this, no one should be superior to another. A result of the viewpoints espoused by these individuals is that they have become an essential part of developing a system of governance that not only embraces democracy but also guarantees the rights of all individuals in society. When one makes a study of Winthrop and Hobbes’ works, one will find that they are quite similar to the modern conventions concerning human rights as well as the rights of children. Hobbes states that all men have the liberty to do as they wish and this is an ability which has been given to them by nature and as a result it an inalienable right.   All men have control over their own lives and they can do everything that they believe is right according to their own judgment, thus ensuring that they remain completely free. An echo of Hobbes’ sentiments appears in the Universal Declaration of Human Rights (UDHR) which also declares that all human beings are born equal in dignity and in rights and that they are free to do what they think is right according to their own conscience. This declaration shows Hobbes’ influence on it despite its having been written some four hundred years before the UDHR was formally declared and implemented. This belief in the right of a ll men to equality as well as is based on a belief that human liberty has its origins in nature and that no man has the right to deny others the right to choose what they want to do with their lives.

The Person I Want to Be Essay Example for Free

The Person I Want to Be Essay According to Artistotle, the virtuous person is one who finds a suitable balance among their many desires and passions. Finding that happy medium is a goal I wish to accomplish through careful thought and consideration of my personal desires. I have set the primary goal of having a successful career, with a latter goal of having the ideal work- life balance when I begin a family. Referring back to Aristotle, I want to determine how to proportion my desires to find eudaimonia. At this stage in my life, my primary goal is to have a successful career. Having the desire to succeed can be fueled by the virtue of motivation. I believe I am currently embracing the happy medium, for I am very driven to do my best but not to the point of it interfering with my personal life and other hobbies. One main step in embracing motivation is to have your goal clear in your mind. I always imagine a concrete image of where I am trying to get and what the road that will get me there looks like. It’s important also to understand beforehand the potential roadblocks that can deter you from reaching your goal, and to predetermine the route that will be taken to avoid or overcome them. Another important virtue to foster in having a successful career is modesty. I take a lot of pride in my work but often find myself comparing scores with peers and feeling a sense of satisfaction when I score higher. I know that I’m leaning towards the vice of excess by being boastful at times, which is why modesty is one of the virtues I want to work on balancing as I continue my college career and my professional growth. In an accounting firm, the goal is to succeed as one and to grow as a team rather than an individual. Maintaining a strong sense of modesty is a goal I am aiming to achieve because I too often find myself concerned with how I compare to others, and I would rather support the success of everyone. Confidence and commitment are two virtues that are cornerstone to accomplishing the goals I have set for myself. My standards are high and my goals may seem far- fetched to some, but through perseverance and commitment I know that they are achievable. In my academic career, I have set the goal to be on the Dean’s List each semester until I graduate. In addition to excellent grades, I am determined to have a winter 2014 accounting internship with a well-respected firm. The opportunity to get an internship does not come easily; the interviews are challenging and the competition is fierce. Confidence is the virtue that can help me best achieve my goal because I know that in order for the firm to think I’m the best candidate, I have to feel as if I’m the best candidate. Confidence is a virtue that will follow me throughout my life, and is a key ingredient to the recipe for happiness. Having a solid work- life balance is an important aspect to keep in mind. Although I have a relentless drive to succeed academically and professionally, it is not my only desire. In the future, I hope to be a loving wife and mother to a wonderful family. Several characteristics that are most important to have when being a part of a family are honesty, trust, patience, and love. I know that if I make decisions with those characteristics in mind, I will be making decisions with the heart rather than the mind. In my personal life, letting my heart make the decisions is always the best course of action that leads to the utmost happiness. Keeping business and pleasure apart from one another is an integral way to keep a suitable work- life balance. The ideally concocted recipe for happiness would result in the harmony of an accomplished career and the balance of a family. The virtues I hope to strengthen and maintain culminate to create the perfect recipe for happiness. Without any one ingredient, the recipe will not turn out as planned. Adding too much or too little of one ingredient will also lead the recipe to fail. I have laid out all the ingredients I plan to use to create my ideal recipe for happiness, my next step and challenge is to decide the proportions I want to add to my mixing bowl called life.

An Overview of Indias Banking Sector

An Overview of Indias Banking Sector INTRODUCTION A bank is a financial institution whose primary activity is to act as a payment agent for customers, to borrow and to lend money. ‘BANK the name is derived from the italian word ‘banco, which means ‘desk/bench. The history of banks pave their way back to 3rd millenium B.C. They were probably the religious places where they started off. Then they developed gradually over years and currently it has taken a very complex shape. There are certain financial institutions whicu provide banking services but do not have the banking license,they are called NBFCs. There are various types of banks on the basis of activities and on the basis of ownership and above all is the central bank which is the last resort for all commercial banks in the country. Banks ought to get license for their working as a bank and there are regulations regarding the capital requirements and their reserves. The current scenario of banking industry is bad due to the net interest margin getting thinner because of incresed inflation and resultant hike in repo rates. MEANING AND DEFINITION The definition of a bank varies from country to country. Under English law, a bank is defined as a person who carries on the business of banking, which is specified as conducting current accounts for his customers paying cheques drawn on him, and collecting cheques for his customers. A Bank can be defined as : A bank is an institution that acts as an agent that provides financial services and that holds a banking license granted by bank regulatory authorities for carrying out the most fundamental banking services. There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so called non-banking financial company. Banks are a subset of the financial services industry.Banks are a sub set of the financial services industry. Bank can be more clearly understood by the activities it perform: Accepting deposits and granting loans to customers. It also acts as credit intermediary- borrow and lend back-to-back on their own account as middle men. It also act as a collection agent, participate in inter-bank clearing and settlement systems. Issuer of money, in the form of banknotes and current accounts subject to cheque or payment at the customers order. In other words can be said that, Banker includes a body of persons, whether incorporated or not, who carry on the business of banking. HISTORY ‘BANK, the name is derived from the italian word ‘banco , which means ‘desk/bench , used during the Renaissance by Florentines bankers , who used to make their transactions above a desk covered by a green tablecloth. In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called ‘macella on a long bench called a ‘bancu , from which the words banco and bank are derived. WORLD HISTORY The first banks were probably the religious temples of the ancient world, and were probably established sometime during the 3rd millennium B.C. Banks probably predated the invention of money. Deposits initially consisted of grain and later other goods including cattle, agricultural implements, and eventually precious metals such as gold.There are some extant records of loans from the 18th century B.C. in Babylon that were made by temple priests monks to merchants. Ancient Greece holds further evidence of banking. There is evidence too of credit, whereby in return for a payment from a client, a moneylender in one Greek port would write a credit note for the client who could cash the note in another city. In the late third century B.C., the barren Aegean island of Delos, known for its magnificent harbor and famous temple of Apollo, became a prominent banking center. Ancient Rome perfected the administrative aspect of banking and saw greater regulation of financial institutions and financial practices. Charging interest on loans and paying interest on deposits became more highly developed and competitive. The first modern bank was founded in Italy in Genoa in 1406, its name was Banco di San Giorgio (Bank of St. George). HISTORY OF BANKING IN INDIA: AN OVERVIEW Banking in India originated in the first decade of 18th century with The General Bank of India coming into existence in 1786. This was followed by Bank of Hindustan. Both these banks are now defunct. The oldest bank in existence in India is the State Bank of India being established as The Bank of Bengal in Calcutta in June 1806. The first fully Indian owned bank was the Allahabad Bank, which was established in 1865. By the 1900s, the market expanded with the establishment of banks such as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai both of which were founded under private ownership. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After Indias independence in 1947, the Reserve Bank was nationalized and given broader powers. Early history At the end of late-18th century, there were hardly any banks in India in the modern sense of the term. Subsequently, banking in India remained the exclusive domain of Europeans for next several decades until the beginning of the 20th century. At the beginning of the 20th century, Indian economy was passing through a relative period of stability. Around five decades have elapsed since the Indias First war of Independence, at that time there were very small banks operated by Indians, and most of them were owned and operated by particular communities. The banking in India was controlled and dominated by the presidency banks, namely, the Bank of Bombay, the Bank of Bengal, and the Bank of Madras which later on merged to form the Imperial Bank of India, and Imperial Bank of India, upon Indias independence, was renamed the State Bank of India. There was potential for many new banks as the economy was growing. many Indians came forward to set up banks, and many banks were set up at that ti me, a number of which have survived to the present such as Bank of India and Corporation Bank, Indian Bank, Bank of Baroda, and Canara Bank. During the Wars The period during the First World War (1914-1918) through the end of the Second World War (1939-1945), and two years thereafter until the independence of India were challenging for the Indian banking. The years of the First World War were turbulent, and it took toll of many banks which simply collapsed despite the Indian economy gaining indirect boost due to war-related economic activities. At least 94 banks in India failed during the years 1913 to 1918. Post-independence The partition of India in 1947 had adversely impacted the economies of Punjab and West Bengal, and banking activities had remained paralyzed for months. In 1948, the Reserve Bank of India, Indias central banking authority, was nationalized, and it became an institution owned by the Government of India. In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) to regulate, control, and inspect the banks in India. The Banking Regulation Act also provided that no new bank or branch of an existing bank may be opened without a licence from the RBI, and no two banks could have common directors. Nationalisation By the 1960s, the Indian banking industry has become an important tool to facilitate the development of the Indian economy. Indira Gandhi, the-then Prime Minister of India expressed the intention of the GOI in the annual conference to nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. A second dose of nationalisation of 6 more commercial banks followed in 1980. The stated reason for the nationalisation was to give the government more control of credit delivery. With the second dose of nationalisation, the GOI controlled around 91% of the banking business of India. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy. Liberalisation In the early 1990s the then Narsimha Rao government embarked on a policy of liberalisation and gave licences to a small number of private banks. This move, along with the rapid growth in the economy of India, kickstarted the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. The next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%,at present it has gone up to 49% with some restrictions. Current Situation Currently, India has 88 scheduled commercial banks (SCBs) 28 public sector banks (that is with the Government of India holding a stake), 29 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. INDUSTRY DYNAMICS The Indian Banking industry is one of the most robustly developed banking system in the world comprising 28 PSU banks, 33 private banks and 35 foreign banks. Together these are known as scheduled commercial banks (SCBs). Apart form the SCBs, there exists 133 regional rural banks (RRBs) and four local area banks, 1853 urban co-operative banks and 109924 rural co-operative banks. The government of India nationalised 14 banks in 1969 and another six in 1980. Privatisation in the sector was allowed in 1993. ICICI Bank and HDFC Bank were the first to thrive thereafter. PSU major Sate bank of India is one of the 100 largest banks in the world. Industry Size The size of Indias financial and banking sector is quite low when compared to other countries. Omnipresence Banking is the only sector influencing all components of the GDP in one way or the other. It is the only sector that can help you capitalise on all the three key themes of the India growth story — consumption, investment and foreign trade. It drives acts as a source of funds for the infrastructure sector (construction, basic materials like cement metals and engineering). It promotes consumption through its complex machanisms for the FMCG, auto, pharma and the real estate sector. Under penetrated From a Banking and Financial Services perspective, India is an under penetrated market. The total credit as a percentage of GDP is 53% as compared to 80% in case of Japan, 83% incase of Korea.China and Malaysia have the highest credit penetration of 108% and 109% respectively. Retail credit penetration is a measly 13% in India much lower than 61% in Malaysia and 41% 23% in case of Korea and Japan. Also, India is under-insured when it comes to life and non-life insurance (penetration of just 4% in case of life insurance and 1% in case of non life insurance). TYPES OF BANKS  § ON THE BASIS OF ACTIVITIES: Banks activities can be divided into: Retail banking, dealing directly with individuals and small businesses. Business banking, providing services to mid-market business. Corporate banking, directed at large business entities. Private banking, providing wealth management services to High Net Worth Individuals and families. Investment banking, relating to activities on the financial markets Most banks are profit-making, private enterprises. However, some are owned by government, or are non-profits. Central banks are normally government owned banks: charged with quasi-regulatory responsibilities, e.g. supervising commercial banks. They generally provide liquidity to the banking system and act as Lender of last resort in event of a crisis. ON THE BASIS OF OWNERSHIP: Banks as classified on ownership basis can be categorised into: Public banks,owned and managed by government. Private banks,owned and managed by private enterpreneurs. Foreign banks,owned and managed by foreign institutions. Commercial banks Commercial banks can have two meanings: Commercial bank is the term used for a normal bank to distinguish it from an investment bank. Commercial bank can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to normal individual members of the public (retail banking). Commercial bank is engaged in the following activities: processing of payments by way of telegraphic transfer, EFTPOS, internet banking or other means issuing bank drafts and bank cheques accepting money on term deposit lending money by way of overdraft, installment loan or otherwise providing documentary and standby letter of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures safekeeping of documents and other items in safe deposit boxes currency exchange sale, distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products as a â€Å"financial supermarket† Types of loans granted by commercial banks Secured loan A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral (i.e., security) for the loan. Mortgage loan A mortgage loan is a very common type of debt instrument, used to purchase real estate. Under this arrangement, the money is used to purchase property. Commercial banks, however, are given security a lien on the title to the house until the mortgage is paid off in full. If the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it. Unsecured loan Unsecured loans are monetary loans that are not secured against the borrowers assets (i.e., no collateral is involved). These may be available from financial institutions under many different guises or marketing packages: credit card debt, personal loans, bank overdrafts credit facilities or lines of credit corporate bonds Retail banks Retail banking refers to banking in which banks undergo transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth. Investment banks Investment banks are financial intermediaries that perform a variety of services. This includes underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, and also acting as a broker for institutional clients. In other words can be said that, Investment banks help companies and governments raise money by issuing and selling securities in the capital markets (both equity and debt), as well as providing advice on transactions such as mergers and acquisitions Types of investment banks Investment banks underwrite (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and advise corporations on capital markets activities such as mergers and acquisitions. Merchant banks were traditionally banks which engaged in trade financing. The modern definition, however, refers to banks which provide capital to firms in the form of shares rather than loans. Unlike venture capital firms, they tend not to invest in new companies. Private banking Private banking is a term for banking, investment and other financial services provided by banks to private individuals disposing of sizable assets. The term private refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers. Personalized financial and banking services that are traditionally offered to a banks rich,high net worth individuals (HNWIs). Public banks Banks, which are incorporated, owned and regulated by government. Private banks Private banks are banks that are not incorporated. A non-incorporated bank is owned by either an individual or a general partner(s) with limited partner(s). In any such case, the creditors can look to both the entirety of the banks assets as well as the entirety of the sole-proprietors/general-partners assets. Private banks and private banking can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks. NON-BANKING FINANCIAL CORPORATION Non-bank financial companies (NBFCs) are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. Operations are, regardless of this, still exercised under bank regulation. However this depends on the jurisdiction, as in some jurisdictions, such as New Zealand, any company can do the business of banking, and there are no banking licences issued. NBFCs are doing functions akin to that of banks, however there are a few differences: (i) A NBFC cannot accept demand deposits; (ii) it is not a part of the payment and settlement system and as such cannot issue cheques to its customers; and (iii) deposit insurance facility of DICGC is not available for NBFC depositors unlike in case of banks. It is mandatory that every NBFC should be registered with RBI to commence or carry on any business of non-banking financial institution as defined in clause (a) of Section 45 I of the RBI Act, 1934.However, to obviate dual regulation, certain category of NBFCs which are regulated by other regulators are exempted from the requirement of registration with RBI viz. Venture Capital Fund/Merchant Banking companies/Stock broking companies registered with SEBI, Insurance Company holding a valid Certificate of Registration issued by IRDA, or Housing Finance Companies regulated by National Housing Bank. All NBFCs are not entitled to accept public deposits. Only those NBFCs holding a valid Certificate of Registration with authorization to accept Public Deposits can accept/hold public deposits. The NBFCs accepting public deposits should have minimum stipulated Net Owned Fund and comply with the Directions issued by the Bank. There is ceiling on acceptance of Public Deposits. A NBFC maintaining required NOF/CRAR and complying with the prudential norms could accept public deposits as follows: Category of NBFC Ceiling on public deposits AFCs maintaining CRAR of 15% without credit rating. AFCs with CRAR of 12% and having minimum investment grade credit rating. 1.5 times of NOF or Rs.10crore whichever is less. 4 times of NOF LC/IC with CRAR of 15% and having minimum investment grade credit rating. 1.5 times of NOF AFC-Asset financing Company LC-Loan Company IC-Investment Company If a NBFC defaults in repayment of deposit, the depositor can approach Company Law Board or Consumer Forum or file a civil suit to recover the deposits Some other types of banks: An advising bank (also known as a notifying bank) advises a beneficiary (exporter) that a letter of credit (L/C) opened by an issuing bank for an applicant (importer) is available and informs the beneficiary about the terms and conditions of the L/C. The advising bank is not necessarily responsible for the payment of the credit which it advises the beneficiary of. Community development banks (CDBs) are banks designed to serve residents and spur economic development in low- to moderate-income (LMI) geographical areas. When CDBs provide retail banking services, they usually target customers from financially underserved demographics. a custodian bank, or simply custodian, refers to a financial institution responsible for safeguarding a firms or individuals financial assets. The role of a custodian in such a case would be the following: to hold in safekeeping assets such as equities and bonds, arrange settlement of any purchases and sales of such securities, collect information on and income from such assets, provide information on the underlying companies and provide regular reporting on all their activities to their clients A depository bank is a bank organized in the United States which provides all the stock transfer and agency services in connection with a depository receipt program. This function includes arranging for a custodian to accept deposits of ordinary shares, issuing the negotiable receipts which back up the shares, maintaining the register of holders to reflect all transfers and exchanges, and distributing dividends. Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits the collection and payment of interest.In addition, Islamic law prohibits investing in businesses that are considered unlawful. A mutual savings bank is a financial institution chartered through a state or federal government to provide a safe place for individuals to save and to invest those savings in mortgages, loans, stocks, Bonds and other securities. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction that provides financial and legal advantages. Banking Industry Strucure in India CENTRAL BANK A central bank, reserve bank, or monetary authority is the entity responsible for the monetary policy of a country. Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a bailout lender of last resort to the banking sector during times of financial crisis. ). It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently. History The oldest central bank in the world is the Riksbank in Sweden, which was opened in 1668 with help from Dutch businessmen. This was followed in 1694 by the Bank of England, created by Scottish businessman William Paterson in the City of London at the request of the English government to help pay for a war. Activities and responsibilities Functions of a central bank implementation of monetary policy controls the nations entire money supply the Governments banker and the bankers bank (Lender of Last Resort) manages the countrys foreign exchange and gold reserves and the Governments stock register; regulation and supervision of the banking industry: setting the official interest rate used to manage both inflation and the countrys exchange rate and ensuring that this rate takes effect via a variety of policy mechanisms Monetary policy: Central banks implement a countrys chosen monetary policy. At the most basic level, this involves establishing what form of currency the country may have, whether a fiat currency, gold-backed currency, currency board or a currency union. Currency issuance: Many central banks are banks in the sense that they hold assets (foreign exchange, gold, and other financial assets) and liabilities. Central banks generally earn money by issuing currency notes and selling them to the public for interest-bearing assets, such as government bonds. Interest rate interventions: Typically a central bank controls certain types of short-term interest rates. These influence the stock- and bond markets as well as mortgage and other interest rates. Policy instruments The main monetary policy instruments available to central banks are: open market operation bank reserve requirement interest rate policy credit policy capital adequacy is important, it is defined and regulated by the Bank for International Settlements, and central banks in practice generally do not apply stricter rules. Open Market Operations: Through open market operations, a central bank influences the money supply in an economy directly. Each time it buys securities, exchanging money for the security, it raises the money supply. Conversely, selling of securities lowers the money supply. Buying of securities thus amounts to printing new money while lowering supply of the specific security. Reserve Requirement: Another significant power that central banks hold is the ability to establish reserve requirements for other banks. By requiring that a percentage of liabilities be held as cash or deposited with the central bank (or other agency), limits are set on the money supply. Interest Rate Policy: By far the most visible and obvious power of many modern central banks is to influence market interest rates. The mechanism to move the market towards a target rate is generally to lend money or borrow money in theoretically unlimited quantities, until the targeted market rate is sufficiently close to the target. Central banks may do so by lending money to and borrowing money from (taking deposits from) a limited number of qualified banks, or by purchasing and selling bonds. Capital requirements: All banks are required to hold a certain percentage of their assets as capital, a rate which may be established by the central bank or the banking supervisor. Capital requirements may be considered more effective than deposit/reserve requirements in preventing indefinite lending: when at the threshold, a bank cannot extend another loan without acquiring further capital on its balance sheet. Entry regulation Currently in most jurisdictions commercial banks are regulated by government entities and require a special bank licence to operate. Unlike most other regulated industries, the regulator is typically also a participant in the market, i.e. government owned bank (a central bank). The requirements for the issue of a bank licence vary between jurisdictions but typically incude: Minimum capital Minimum capital ratio Fit and Proper requirements for the banks controllers, owners, directors, and/or senior officers Approval of the banks business plan as being sufficiently prudent and plausible. Banking channels A branch, banking centre or financial centre is a retail location where a bank or financial institution offers a wide array of face-to-face service to its customers ATM. Mail. Telephone banking Online banking Bank crisis liquidity risk -the risk that many depositors will request withdrawals beyond available funds credit risk -the risk that those who owe money to the bank will not repay interest rate risk- the risk that the bank will become unprofitable if rising interest rates force it to pay relatively more on its deposits than it receives on its loans. Profitability A bank generates a profit from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference is referred to as the spread between the cost of funds and the loan interest rate. Bank Regulations Bank regulations are a form of government regulation which subject banks to certain requirements, restrictions and guidelines. The objectives of bank regulation, and the emphasis are: Prudential to reduce the level of risk bank creditors are exposed to Systemic risk reduction to reduce the risk of disruption resulting from adverse trading conditions for banks causing multiple or major bank failures Avoid Misuse of Banks to reduce the risk of banks being used for criminal purposes, e.g. laundering the proceeds of crime To protect banking confidentiality Credit allocation to direct credit to favoured sectors . General Principles of Bank Regulation Banking regulations can vary widely across nations and jurisdictions. Thes are some of the general principles of bank regulation throughout the world Minimum Requirements Requirements are imposed on banks in order to promote the objectives of the regulator. The most important minimum requirement in banking regulation is minimum capital ratios. Supervisory Review Banks are required to be issued with a bank licence by the regulator in order to carry on business as a bank, and the regulator supervises licenced banks for compliance with the requirements and responds to breaches of the requirements through obtaining undertakings, giving directions, imposing penalties or revoking the banks licence. Market Discipline The regulator requires banks to publicly disclose financial and other information, and depositors and other creditors are able to use this information to assess the level of risk and to make investment decisions. As a result of this, the bank is subject to market discipline and the regulator can also use market-pricing information as an indicator of the banks financial health. Instruments and Requirements of Bank Regulation Capital requirement The capital requirement is a bank regulation, which sets a framework on how banks and depository institutions must handle their capital. The categorization of assets and capital is highly standardized so that it can be risk weighted. The capital ratio is the percentage of a banks capital to its risk-weighted assets. Reserve requirement The reserve requirement sets the minimum reserves each bank must hold to demand deposits and banknotes. The purpose of minimum reserve ratios is liquidity rather than safety. Corporate Governance Corporate governance requirements are intented to encourage the bank to be well managed and also to achieve certain objectives as to maintain it as a body corporate, maintaining minimum number of members and organisational structure etc. Financial Reporting, Disclosure and Prospectus Requirements Banks may be required to: Prepare annual financial statements according to a financial reporting standard, have them audited, and to register or publish them . Prepare more frequent financial disclosures. Have directors of the bank attest to the accuracy of such financial disclosures. Prepare and have registered prospectuses detailing the terms of securities it issues. Credit Rating Requirement Banks may be required to obtain An Overview of Indias Banking Sector An Overview of Indias Banking Sector INTRODUCTION A bank is a financial institution whose primary activity is to act as a payment agent for customers, to borrow and to lend money. ‘BANK the name is derived from the italian word ‘banco, which means ‘desk/bench. The history of banks pave their way back to 3rd millenium B.C. They were probably the religious places where they started off. Then they developed gradually over years and currently it has taken a very complex shape. There are certain financial institutions whicu provide banking services but do not have the banking license,they are called NBFCs. There are various types of banks on the basis of activities and on the basis of ownership and above all is the central bank which is the last resort for all commercial banks in the country. Banks ought to get license for their working as a bank and there are regulations regarding the capital requirements and their reserves. The current scenario of banking industry is bad due to the net interest margin getting thinner because of incresed inflation and resultant hike in repo rates. MEANING AND DEFINITION The definition of a bank varies from country to country. Under English law, a bank is defined as a person who carries on the business of banking, which is specified as conducting current accounts for his customers paying cheques drawn on him, and collecting cheques for his customers. A Bank can be defined as : A bank is an institution that acts as an agent that provides financial services and that holds a banking license granted by bank regulatory authorities for carrying out the most fundamental banking services. There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so called non-banking financial company. Banks are a subset of the financial services industry.Banks are a sub set of the financial services industry. Bank can be more clearly understood by the activities it perform: Accepting deposits and granting loans to customers. It also acts as credit intermediary- borrow and lend back-to-back on their own account as middle men. It also act as a collection agent, participate in inter-bank clearing and settlement systems. Issuer of money, in the form of banknotes and current accounts subject to cheque or payment at the customers order. In other words can be said that, Banker includes a body of persons, whether incorporated or not, who carry on the business of banking. HISTORY ‘BANK, the name is derived from the italian word ‘banco , which means ‘desk/bench , used during the Renaissance by Florentines bankers , who used to make their transactions above a desk covered by a green tablecloth. In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called ‘macella on a long bench called a ‘bancu , from which the words banco and bank are derived. WORLD HISTORY The first banks were probably the religious temples of the ancient world, and were probably established sometime during the 3rd millennium B.C. Banks probably predated the invention of money. Deposits initially consisted of grain and later other goods including cattle, agricultural implements, and eventually precious metals such as gold.There are some extant records of loans from the 18th century B.C. in Babylon that were made by temple priests monks to merchants. Ancient Greece holds further evidence of banking. There is evidence too of credit, whereby in return for a payment from a client, a moneylender in one Greek port would write a credit note for the client who could cash the note in another city. In the late third century B.C., the barren Aegean island of Delos, known for its magnificent harbor and famous temple of Apollo, became a prominent banking center. Ancient Rome perfected the administrative aspect of banking and saw greater regulation of financial institutions and financial practices. Charging interest on loans and paying interest on deposits became more highly developed and competitive. The first modern bank was founded in Italy in Genoa in 1406, its name was Banco di San Giorgio (Bank of St. George). HISTORY OF BANKING IN INDIA: AN OVERVIEW Banking in India originated in the first decade of 18th century with The General Bank of India coming into existence in 1786. This was followed by Bank of Hindustan. Both these banks are now defunct. The oldest bank in existence in India is the State Bank of India being established as The Bank of Bengal in Calcutta in June 1806. The first fully Indian owned bank was the Allahabad Bank, which was established in 1865. By the 1900s, the market expanded with the establishment of banks such as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai both of which were founded under private ownership. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After Indias independence in 1947, the Reserve Bank was nationalized and given broader powers. Early history At the end of late-18th century, there were hardly any banks in India in the modern sense of the term. Subsequently, banking in India remained the exclusive domain of Europeans for next several decades until the beginning of the 20th century. At the beginning of the 20th century, Indian economy was passing through a relative period of stability. Around five decades have elapsed since the Indias First war of Independence, at that time there were very small banks operated by Indians, and most of them were owned and operated by particular communities. The banking in India was controlled and dominated by the presidency banks, namely, the Bank of Bombay, the Bank of Bengal, and the Bank of Madras which later on merged to form the Imperial Bank of India, and Imperial Bank of India, upon Indias independence, was renamed the State Bank of India. There was potential for many new banks as the economy was growing. many Indians came forward to set up banks, and many banks were set up at that ti me, a number of which have survived to the present such as Bank of India and Corporation Bank, Indian Bank, Bank of Baroda, and Canara Bank. During the Wars The period during the First World War (1914-1918) through the end of the Second World War (1939-1945), and two years thereafter until the independence of India were challenging for the Indian banking. The years of the First World War were turbulent, and it took toll of many banks which simply collapsed despite the Indian economy gaining indirect boost due to war-related economic activities. At least 94 banks in India failed during the years 1913 to 1918. Post-independence The partition of India in 1947 had adversely impacted the economies of Punjab and West Bengal, and banking activities had remained paralyzed for months. In 1948, the Reserve Bank of India, Indias central banking authority, was nationalized, and it became an institution owned by the Government of India. In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) to regulate, control, and inspect the banks in India. The Banking Regulation Act also provided that no new bank or branch of an existing bank may be opened without a licence from the RBI, and no two banks could have common directors. Nationalisation By the 1960s, the Indian banking industry has become an important tool to facilitate the development of the Indian economy. Indira Gandhi, the-then Prime Minister of India expressed the intention of the GOI in the annual conference to nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. A second dose of nationalisation of 6 more commercial banks followed in 1980. The stated reason for the nationalisation was to give the government more control of credit delivery. With the second dose of nationalisation, the GOI controlled around 91% of the banking business of India. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy. Liberalisation In the early 1990s the then Narsimha Rao government embarked on a policy of liberalisation and gave licences to a small number of private banks. This move, along with the rapid growth in the economy of India, kickstarted the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. The next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%,at present it has gone up to 49% with some restrictions. Current Situation Currently, India has 88 scheduled commercial banks (SCBs) 28 public sector banks (that is with the Government of India holding a stake), 29 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. INDUSTRY DYNAMICS The Indian Banking industry is one of the most robustly developed banking system in the world comprising 28 PSU banks, 33 private banks and 35 foreign banks. Together these are known as scheduled commercial banks (SCBs). Apart form the SCBs, there exists 133 regional rural banks (RRBs) and four local area banks, 1853 urban co-operative banks and 109924 rural co-operative banks. The government of India nationalised 14 banks in 1969 and another six in 1980. Privatisation in the sector was allowed in 1993. ICICI Bank and HDFC Bank were the first to thrive thereafter. PSU major Sate bank of India is one of the 100 largest banks in the world. Industry Size The size of Indias financial and banking sector is quite low when compared to other countries. Omnipresence Banking is the only sector influencing all components of the GDP in one way or the other. It is the only sector that can help you capitalise on all the three key themes of the India growth story — consumption, investment and foreign trade. It drives acts as a source of funds for the infrastructure sector (construction, basic materials like cement metals and engineering). It promotes consumption through its complex machanisms for the FMCG, auto, pharma and the real estate sector. Under penetrated From a Banking and Financial Services perspective, India is an under penetrated market. The total credit as a percentage of GDP is 53% as compared to 80% in case of Japan, 83% incase of Korea.China and Malaysia have the highest credit penetration of 108% and 109% respectively. Retail credit penetration is a measly 13% in India much lower than 61% in Malaysia and 41% 23% in case of Korea and Japan. Also, India is under-insured when it comes to life and non-life insurance (penetration of just 4% in case of life insurance and 1% in case of non life insurance). TYPES OF BANKS  § ON THE BASIS OF ACTIVITIES: Banks activities can be divided into: Retail banking, dealing directly with individuals and small businesses. Business banking, providing services to mid-market business. Corporate banking, directed at large business entities. Private banking, providing wealth management services to High Net Worth Individuals and families. Investment banking, relating to activities on the financial markets Most banks are profit-making, private enterprises. However, some are owned by government, or are non-profits. Central banks are normally government owned banks: charged with quasi-regulatory responsibilities, e.g. supervising commercial banks. They generally provide liquidity to the banking system and act as Lender of last resort in event of a crisis. ON THE BASIS OF OWNERSHIP: Banks as classified on ownership basis can be categorised into: Public banks,owned and managed by government. Private banks,owned and managed by private enterpreneurs. Foreign banks,owned and managed by foreign institutions. Commercial banks Commercial banks can have two meanings: Commercial bank is the term used for a normal bank to distinguish it from an investment bank. Commercial bank can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to normal individual members of the public (retail banking). Commercial bank is engaged in the following activities: processing of payments by way of telegraphic transfer, EFTPOS, internet banking or other means issuing bank drafts and bank cheques accepting money on term deposit lending money by way of overdraft, installment loan or otherwise providing documentary and standby letter of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures safekeeping of documents and other items in safe deposit boxes currency exchange sale, distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products as a â€Å"financial supermarket† Types of loans granted by commercial banks Secured loan A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral (i.e., security) for the loan. Mortgage loan A mortgage loan is a very common type of debt instrument, used to purchase real estate. Under this arrangement, the money is used to purchase property. Commercial banks, however, are given security a lien on the title to the house until the mortgage is paid off in full. If the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it. Unsecured loan Unsecured loans are monetary loans that are not secured against the borrowers assets (i.e., no collateral is involved). These may be available from financial institutions under many different guises or marketing packages: credit card debt, personal loans, bank overdrafts credit facilities or lines of credit corporate bonds Retail banks Retail banking refers to banking in which banks undergo transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth. Investment banks Investment banks are financial intermediaries that perform a variety of services. This includes underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, and also acting as a broker for institutional clients. In other words can be said that, Investment banks help companies and governments raise money by issuing and selling securities in the capital markets (both equity and debt), as well as providing advice on transactions such as mergers and acquisitions Types of investment banks Investment banks underwrite (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and advise corporations on capital markets activities such as mergers and acquisitions. Merchant banks were traditionally banks which engaged in trade financing. The modern definition, however, refers to banks which provide capital to firms in the form of shares rather than loans. Unlike venture capital firms, they tend not to invest in new companies. Private banking Private banking is a term for banking, investment and other financial services provided by banks to private individuals disposing of sizable assets. The term private refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers. Personalized financial and banking services that are traditionally offered to a banks rich,high net worth individuals (HNWIs). Public banks Banks, which are incorporated, owned and regulated by government. Private banks Private banks are banks that are not incorporated. A non-incorporated bank is owned by either an individual or a general partner(s) with limited partner(s). In any such case, the creditors can look to both the entirety of the banks assets as well as the entirety of the sole-proprietors/general-partners assets. Private banks and private banking can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks. NON-BANKING FINANCIAL CORPORATION Non-bank financial companies (NBFCs) are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. Operations are, regardless of this, still exercised under bank regulation. However this depends on the jurisdiction, as in some jurisdictions, such as New Zealand, any company can do the business of banking, and there are no banking licences issued. NBFCs are doing functions akin to that of banks, however there are a few differences: (i) A NBFC cannot accept demand deposits; (ii) it is not a part of the payment and settlement system and as such cannot issue cheques to its customers; and (iii) deposit insurance facility of DICGC is not available for NBFC depositors unlike in case of banks. It is mandatory that every NBFC should be registered with RBI to commence or carry on any business of non-banking financial institution as defined in clause (a) of Section 45 I of the RBI Act, 1934.However, to obviate dual regulation, certain category of NBFCs which are regulated by other regulators are exempted from the requirement of registration with RBI viz. Venture Capital Fund/Merchant Banking companies/Stock broking companies registered with SEBI, Insurance Company holding a valid Certificate of Registration issued by IRDA, or Housing Finance Companies regulated by National Housing Bank. All NBFCs are not entitled to accept public deposits. Only those NBFCs holding a valid Certificate of Registration with authorization to accept Public Deposits can accept/hold public deposits. The NBFCs accepting public deposits should have minimum stipulated Net Owned Fund and comply with the Directions issued by the Bank. There is ceiling on acceptance of Public Deposits. A NBFC maintaining required NOF/CRAR and complying with the prudential norms could accept public deposits as follows: Category of NBFC Ceiling on public deposits AFCs maintaining CRAR of 15% without credit rating. AFCs with CRAR of 12% and having minimum investment grade credit rating. 1.5 times of NOF or Rs.10crore whichever is less. 4 times of NOF LC/IC with CRAR of 15% and having minimum investment grade credit rating. 1.5 times of NOF AFC-Asset financing Company LC-Loan Company IC-Investment Company If a NBFC defaults in repayment of deposit, the depositor can approach Company Law Board or Consumer Forum or file a civil suit to recover the deposits Some other types of banks: An advising bank (also known as a notifying bank) advises a beneficiary (exporter) that a letter of credit (L/C) opened by an issuing bank for an applicant (importer) is available and informs the beneficiary about the terms and conditions of the L/C. The advising bank is not necessarily responsible for the payment of the credit which it advises the beneficiary of. Community development banks (CDBs) are banks designed to serve residents and spur economic development in low- to moderate-income (LMI) geographical areas. When CDBs provide retail banking services, they usually target customers from financially underserved demographics. a custodian bank, or simply custodian, refers to a financial institution responsible for safeguarding a firms or individuals financial assets. The role of a custodian in such a case would be the following: to hold in safekeeping assets such as equities and bonds, arrange settlement of any purchases and sales of such securities, collect information on and income from such assets, provide information on the underlying companies and provide regular reporting on all their activities to their clients A depository bank is a bank organized in the United States which provides all the stock transfer and agency services in connection with a depository receipt program. This function includes arranging for a custodian to accept deposits of ordinary shares, issuing the negotiable receipts which back up the shares, maintaining the register of holders to reflect all transfers and exchanges, and distributing dividends. Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits the collection and payment of interest.In addition, Islamic law prohibits investing in businesses that are considered unlawful. A mutual savings bank is a financial institution chartered through a state or federal government to provide a safe place for individuals to save and to invest those savings in mortgages, loans, stocks, Bonds and other securities. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction that provides financial and legal advantages. Banking Industry Strucure in India CENTRAL BANK A central bank, reserve bank, or monetary authority is the entity responsible for the monetary policy of a country. Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a bailout lender of last resort to the banking sector during times of financial crisis. ). It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently. History The oldest central bank in the world is the Riksbank in Sweden, which was opened in 1668 with help from Dutch businessmen. This was followed in 1694 by the Bank of England, created by Scottish businessman William Paterson in the City of London at the request of the English government to help pay for a war. Activities and responsibilities Functions of a central bank implementation of monetary policy controls the nations entire money supply the Governments banker and the bankers bank (Lender of Last Resort) manages the countrys foreign exchange and gold reserves and the Governments stock register; regulation and supervision of the banking industry: setting the official interest rate used to manage both inflation and the countrys exchange rate and ensuring that this rate takes effect via a variety of policy mechanisms Monetary policy: Central banks implement a countrys chosen monetary policy. At the most basic level, this involves establishing what form of currency the country may have, whether a fiat currency, gold-backed currency, currency board or a currency union. Currency issuance: Many central banks are banks in the sense that they hold assets (foreign exchange, gold, and other financial assets) and liabilities. Central banks generally earn money by issuing currency notes and selling them to the public for interest-bearing assets, such as government bonds. Interest rate interventions: Typically a central bank controls certain types of short-term interest rates. These influence the stock- and bond markets as well as mortgage and other interest rates. Policy instruments The main monetary policy instruments available to central banks are: open market operation bank reserve requirement interest rate policy credit policy capital adequacy is important, it is defined and regulated by the Bank for International Settlements, and central banks in practice generally do not apply stricter rules. Open Market Operations: Through open market operations, a central bank influences the money supply in an economy directly. Each time it buys securities, exchanging money for the security, it raises the money supply. Conversely, selling of securities lowers the money supply. Buying of securities thus amounts to printing new money while lowering supply of the specific security. Reserve Requirement: Another significant power that central banks hold is the ability to establish reserve requirements for other banks. By requiring that a percentage of liabilities be held as cash or deposited with the central bank (or other agency), limits are set on the money supply. Interest Rate Policy: By far the most visible and obvious power of many modern central banks is to influence market interest rates. The mechanism to move the market towards a target rate is generally to lend money or borrow money in theoretically unlimited quantities, until the targeted market rate is sufficiently close to the target. Central banks may do so by lending money to and borrowing money from (taking deposits from) a limited number of qualified banks, or by purchasing and selling bonds. Capital requirements: All banks are required to hold a certain percentage of their assets as capital, a rate which may be established by the central bank or the banking supervisor. Capital requirements may be considered more effective than deposit/reserve requirements in preventing indefinite lending: when at the threshold, a bank cannot extend another loan without acquiring further capital on its balance sheet. Entry regulation Currently in most jurisdictions commercial banks are regulated by government entities and require a special bank licence to operate. Unlike most other regulated industries, the regulator is typically also a participant in the market, i.e. government owned bank (a central bank). The requirements for the issue of a bank licence vary between jurisdictions but typically incude: Minimum capital Minimum capital ratio Fit and Proper requirements for the banks controllers, owners, directors, and/or senior officers Approval of the banks business plan as being sufficiently prudent and plausible. Banking channels A branch, banking centre or financial centre is a retail location where a bank or financial institution offers a wide array of face-to-face service to its customers ATM. Mail. Telephone banking Online banking Bank crisis liquidity risk -the risk that many depositors will request withdrawals beyond available funds credit risk -the risk that those who owe money to the bank will not repay interest rate risk- the risk that the bank will become unprofitable if rising interest rates force it to pay relatively more on its deposits than it receives on its loans. Profitability A bank generates a profit from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference is referred to as the spread between the cost of funds and the loan interest rate. Bank Regulations Bank regulations are a form of government regulation which subject banks to certain requirements, restrictions and guidelines. The objectives of bank regulation, and the emphasis are: Prudential to reduce the level of risk bank creditors are exposed to Systemic risk reduction to reduce the risk of disruption resulting from adverse trading conditions for banks causing multiple or major bank failures Avoid Misuse of Banks to reduce the risk of banks being used for criminal purposes, e.g. laundering the proceeds of crime To protect banking confidentiality Credit allocation to direct credit to favoured sectors . General Principles of Bank Regulation Banking regulations can vary widely across nations and jurisdictions. Thes are some of the general principles of bank regulation throughout the world Minimum Requirements Requirements are imposed on banks in order to promote the objectives of the regulator. The most important minimum requirement in banking regulation is minimum capital ratios. Supervisory Review Banks are required to be issued with a bank licence by the regulator in order to carry on business as a bank, and the regulator supervises licenced banks for compliance with the requirements and responds to breaches of the requirements through obtaining undertakings, giving directions, imposing penalties or revoking the banks licence. Market Discipline The regulator requires banks to publicly disclose financial and other information, and depositors and other creditors are able to use this information to assess the level of risk and to make investment decisions. As a result of this, the bank is subject to market discipline and the regulator can also use market-pricing information as an indicator of the banks financial health. Instruments and Requirements of Bank Regulation Capital requirement The capital requirement is a bank regulation, which sets a framework on how banks and depository institutions must handle their capital. The categorization of assets and capital is highly standardized so that it can be risk weighted. The capital ratio is the percentage of a banks capital to its risk-weighted assets. Reserve requirement The reserve requirement sets the minimum reserves each bank must hold to demand deposits and banknotes. The purpose of minimum reserve ratios is liquidity rather than safety. Corporate Governance Corporate governance requirements are intented to encourage the bank to be well managed and also to achieve certain objectives as to maintain it as a body corporate, maintaining minimum number of members and organisational structure etc. Financial Reporting, Disclosure and Prospectus Requirements Banks may be required to: Prepare annual financial statements according to a financial reporting standard, have them audited, and to register or publish them . Prepare more frequent financial disclosures. Have directors of the bank attest to the accuracy of such financial disclosures. Prepare and have registered prospectuses detailing the terms of securities it issues. Credit Rating Requirement Banks may be required to obtain