Applied Business Research-week 4 Assignment Example | Topics and Well Written Essays - 1000 words

Applied Business Research-week 4 - Assignment Example Managers will not stop talking and researching about happiness at workplace for they understand that their clients will get satisfactory services, hence improving the corporation’s sales as happiness possessed by the workforce will effortlessly manipulate customers’ loyalty toward their products. Finally, get assured that many individuals have understood the importance happiness in workplace while others are yet to encounter its significance. Therefore, the talk about happiness will continue. In the article, the authors strive to define positive psychology as scientifically informed acuity on what make life worth living. The writers also tried to elucidate the derivation of positive psychology as they believe that it originated from Maslow book called motivational and personality of 1954. It was hypothesized in 1998 by Martin Seligman who realized that positive psychology has left out two things; helping people to live a productive and fulfilling lives and also nurture high aptitudes (Seligman & Csikszentmihalyi, 2000). Positive psychology is anticipated to grow steadily and thus helping psychologist to better understand the society and thus using this new branch of psychology in resolving problems confronting humankind. The authors have also exposed how positive psychology is skillful at shaping vital conceptions to be used by individuals in asphyxiating impending problems. In conclusion, the authors have emphasized that people should synthesize on positive and negative life factors that they face in their daily lives thus using them to live a praiseworthy life. Employee morale significantly relate in fostering happiness in the workplace. Morale, certainly, is something that cannot be bought, but is attained within the working surroundings of an individual. Therefore, the same environment must be capable of providing opportunities where one is trusted, valued and respected. This is

Using a pendulum Essay Example for Free

Using a pendulum Essay To find the gravity by finding the period of the oscillations of a pendulum and plotting a graph. Hypothesis and Prediction: the gravity from the graph is going to equal the gravity from the formula. Variables: The independent variable is the length of the string The Dependent variable is the period of one oscillation Controlled variables are: mass of the pendulum Equipment: -Brass Ball -string -boss and clamp -stopwatch -2 metal blocks -Meter Ruler -Micrometer -The diameter of the brass ball was measured using a micrometer. Then the value was divided by 2 to give the radius.-the length of the string was measured -two metal block were clamped with the string in between, the string was tied to the bob -the bob was pulled to the side and released -the time was started when the bob passed the reference line. -a full oscillation is when the bob passes the reference line forth back and forth again. the length of the string is increased or decreased in a regular pattern the time was monitored by reading through the stopwatch. -the same brass ball was used over the experiment to keep the mass constant. the length was varied 10 times with a 10 cm difference. -4 readings were taken for each 10 cm -the time was taken for 20 oscillations. And then divided by 20 to give one oscillation. Data Collection: Table number Length of String / M i 0. 05 Number of oscillations Time Taken/s i 0. 5 Period/s i The table contains the length of the string in meters, the number of oscillations, the time per 20 oscillations and the period of one oscillation. As the length of the string deceases , the time for 1 oscillation decreases. So the length of the string is directly proportional to the period. Data Processing and presentation: Example in working out average period when the string is 1. 01 The graph is plotted with Average period squared against length of string. Y=3. 9244x-0. 0087 3. 9244=gradient. 3. 9244= (4(pi)^2)/g g = (4(pi)^2)/3. 9244 g=10. 060 from the graph. The average gravity from the formula= 100. 614/10= 10. 614 Conclusion: the results where very close to the prediction but they werent the same as the graph is a scatter diagram.-the result from the graph is more accurate as the graph cancels inaccurate measurements. Evaluation: -the method had weaknesses. -the angle of the pendulum to the reference line isnt the same in each reading which might cause a slight error. -the Air conditional may effect the pendulum; it may change its speed or change its direction. it is difficult to stop the stopwatch and start it in the reference line exactly which might induce error sometimes the ball tends to move in a circular motion and the experiment will have to be repeated.

Was The Dropping Of The Atomic Bomb Justified? Essay -- U.S. History

On August 6, 1945 the United States dropped the first atomic bomb on the Japanese city of Hiroshima. This was an extremely controversial military strategy in the United States. Was the United States justified in the dropping of the atomic bomb? The U.S. feared the rise of communism and gave aid to any country against it. The U.S. also fought countries threatening the spread communism. One of these countries was Japan. We began a harsh and brutal war against Japan and against communism. This war was killing many soldiers and Japan was not backing down. President Truman decided to use the atomic bomb when things were getting worse. The decision to use the atomic bomb was a difficult one and many people wonder if it was the right choice. When the United States caught word that Germany was close to creating the atomic bomb, J. Robert Oppenheimer and other scientists wanted to create it first, for the U.S. After three years of research, the first small atomic device was exploded on July 16, 1945 in the lab at Los Alamos. Having proved their concept worked, a larger scale bomb was built. Less than a month later, atomic bombs were dropped on Hiroshima and Nagasaki in Japan (Rosenberg). There are many people who oppose the use of the atomic bombs; though there are some that believe it was a necessity in ending the war. President Truman realized the tragic significance of the atomic bomb and made his decision to use it to shorten the agony of young Americans (â€Å"Was the Atomic Bombing†). The president knew of the way the Japanese fought. They fought to the death and they were brutal to prisoners of war. They used woman and children as soldiers to surprise bomb the enemy. They made lethal weapons and were taught to sacr... ...t of physical as well as psychological damage was too great according to many people. Works Cited The Atomic Bomb. Evanston, Ill.: Nextext, 2000. Print. "Atomic Bomb-Truman Press Release-August 6, 1945." Harry S. Truman Library and Museum. Web. 10 June 2010. . Chaitin, Julia, Aiko Swasa, and Dan Bar-On. "Life After The ATOMIC BOMB." USA Today Magazine Mar. 2007: 20-23. Points Of View Reference Center. Web. 4 June 2010. Rosenberg, Jennifer. "J Robert Oppenheimer - Biography of Manhattan Project Director J. Robert Oppenheimer." 20th Century History. Web. 10 June 2010. . "Was the Atomic Bombing of Japan Justifiable?" The Pacific War 1941-43. Web. 10 June 2010. .

AIDS: Research and Funding :: essays research papers

AIDS is slowly becoming the number one killer across the globe. Throughout numerous small countries, AIDS has destroyed lives, taken away mothers, and has left hopeless children as orphans. The problem remains that funding for the diseases’ medical research is limited to none. In the country Brazil, HIV/AIDS has been compared to the bubonic plague, one of the oldest yet, most deadly diseases to spread rapidly across Europe (Fiedler 524). Due to this issue, Brazil’s government has promised that everyone who has been diagnosed with either HIV or AIDS will receive free treatment; however, this treatment does not include help in purchasing HIV medications, that â€Å"carry astronomical price tags† (Fiedler 525). Generic drug companies have been able to produce effective HIV medications that are not as costly if compared to the prices given by the huge pharmaceutical companies. In contrast, the U.S. government has now intervened with these generic companies hindering them from making HIV medications, which may not be as efficient if made by the pharmaceutical companies. Not only are these drug companies losing thousands of dollars against generic drug companies, but also tremendous profit that is demanded for marketing these expensive drugs as well. â€Å"How many people must die without treatment until the companies are willing to lower their prices, or to surrender their patients so generic makers can enter market? (Fiedler 525).† With this question in mind, what ways can we eliminate the HIV/AIDS epidemic across the world? With research, education, testing, and funding we can prevent the spread of HIV to others and hopefully find a cure. Everyday researchers have proposed new methods of how to control the HIV virus from turning into AIDS. A combination of effective HIV medicines help stop the formation of new copies of HIV as it reproduces in your body. This technique helps to keep your CD-4 cell count up and your viral load down. CD-4 cells are one type of immune cells that assist to fight off the virus, the higher your count the stronger your immune system (Nakashima 77). Whereas, your viral load is a measure of HIV in your blood and your treatment goal is to have the lowest viral load possible. People with higher viral loads tend to progress to AIDS and become sick sooner than those with lower viral loads (Nakashima 80). Successful HIV medications can prevent other infections common with AIDS and can help you live longer.

Poetry and Happiness

In the poem, â€Å"Happiness†, the poet, Priscilla Leonard, illustrates for the reader that happiness cannot be contained and that one human cannot own all happiness. The poem happiness is about how to live life to the fullest. In the first two lines of the poem, †Happiness is a crystal/ fair and exquisite and clear† the feeling and emotion that the poet gives the reader, is peaceful and tranquil(1-2). Leonard throws a different perspective at the reader when she write ,†broken in a million pieces/shattered scattered far and near(4-5).The emotion has now been cut off. It is like an alarm clock to the reader. She goes onto say in the last part of the stanza that if one understands this and â€Å"now and then along life’s pathway/lo! Some shining fragments fall† and they are lucky enough to behold these pieces of happiness, they will experience great joy(5-6). Leonard writes that â€Å"there are so many pieces/ no one ever finds them all† t o say happiness is not bought, nor to be stolen, but it is to be earned, found, and given to one another(7-8). There are different pieces of happiness.Some pieces of happiness that Leonard says, are that â€Å"you may find a bit of beauty/or an honest share of wealth†(9-10). beauty and honest wealth are two things modern women wish to have and to be. Leonard being a woman might have placed these two elements of beauty to reach out to certain woman readers, so that they could relate to the poem. Leonard tells a tale about a neighbor, and how their greed got them no happiness, and no matter how much they searched and reached out to grab all happiness, it escaped their grasp.Before that she tells of the wise on their journey of life. She wrote that they â€Å"treasure every fragment clear/[and] fit them as they may together/imaging the shattered sphere†(17-19). The wise care about and realize that they are â€Å"to be ever thankful† even though their share of wisdo m is tiny, they understand that â€Å"it has so many pieces no one ever finds them all†(20,22-23). The wise know that their gift of happiness is being wise and that there are also many other great gifts in the world. There is, of course, a difference etween the fool and the wise. Once the fool receives a gift , he tries to get all he can. The wise get a gift and know to be satisfied with what they have, and not to wander around looking for more satisfaction. The wise, being wise imagine not just a sphere that the poet has put into context for u, but the true meaning of happiness. The reason why the author uses a crystal ball as a symbol for happiness is because a crystal seems fragile and priceless, but at the same time a sense of immortality.A crystal is treasured and admired by all who see it. Thieves and fools want it so they can have more pleasures. Respectable and wise people use it as a gift and are humble. Holding all happiness in your hands can have a strange effect t hough. Even some of the wisest men have fallen under its luring spell. Don’t be deceived by happiness, it is like a double-edged sword. If people would pay more careful attention to poets like Priscilla Leonard there might not be so many corrupted souls in the world.Happiness is not a toy that can be pulled out and played with, only to be lost when searching for more. Since happiness cannot be contained, but it can easily be destructive and lost. Treat it like a crystal; clear, true, and exquisite. When happiness seems to be out of reach, wait a little until some falls on your lap. Until then admire it as you would a passing cloud. This close reading has helped to take a step back and to realize the value of looking at life through a wide angled lens. And to not just look at happiness, but in all the elements of life.

chris torres life essays

chris torres life essays This Page contains certain events in my life that have changed me or that have affect my Life ~ Im Still here to fight the World that Tryz 2 Bring me Down~ I kno I Shouldnt even Write This But Wut the Hell Il call it my Autobiography that I will continue as time goez on.. For All the H8Erz Who Get DER Info From The Grape Vine REAd This If u Wanna Know Wuzup Instead of getting Shit all FuckEd up n Trying 2 Talk shit bout me ~Watch me live my heart writin words from my soul in blood~ This life story started on January 10, 1987 I was born to two young parents Eric age 17 Deanna age 16, Since Birth I was a statistic a baby boy born to two teen parents. The Statistics showed that my life would hold challenges for me. At the age 5 I was diagnosed with acute lymphocytic leukemia - most common type of leukemia in children under age 10. It was a cancer of the white blood cells, the cells in the body that normally fight infections. Having to Deal with this at a young age put a burden on me. To make the situation worse my parents decided to give up full custody of me that meant adoption, My grandparents took me in a small child with hope and dreams of a better day. It was weird for me because as soon as the adoption took place my father left to Louisianan And my mom lived down the Street from my grandparents. When I was older my parents started to come back into mylife.It has taken me so many years to become a member of their new families. I understand as a young man now that their actions benefited me. It has even more difficult having affiliations with family members who are part of La Eme. Im only 16,and yet I have seen it all from death and hard times to good times. I see my life as a road of challenges and I continue to struggle. Recently I have had to deal with socialistic Bullshit. To the people who hate on me You Dont Know me or my life story so dont judge me Thats for Go...

price and place Essays

price and place Essays price and place Essay price and place Essay Lecture 5: PRICE AND PLACE Price: Define the pricing concept and explain different pricing methods ( cost oriented, competitor oriented and market oriented pricing) -Explain pricing strategies for new products( market penetration and market skimming) AND existing products. ( Understand condition and when we can use it) -Consider ethical issue in pricing ( dont think it will be on the exam) PLACE: Define place(distripution) concept and explain the role of intermediaries in distribution channel Describe types of distribution channels Explain factors to consider in formulating channel strategy Consider ethical issues in distribution Past exam questions: 1 . Define two pricing strategies for new products: MARKET SKIMMING AND MARKET PENETRATION. List the conditions which are suitable for each of these strategies according y. Provide examples for each strategy. 2. Critically assess the benefits of two pricing strategies for new products: market skimming dn market penetration. Discuss which pricing method you would use and why in lunching the new phone and the game console PS4 PRICE: What will happen if we charge too much for a product o too little? If you charge too little, then you have to understand that demand fo a product or service could be igh, we will be losing a profit for the organization, and if you charge too much for a poduct we have to think about competitors, who can charge less than us. 1. Pricing Concept: Out of marketing mix(4Ps) Pice is the revenue earner. The other thee elements of the marketing mix product, promotion and place are costs. 2. THE DEMAND CURVE: In the demand curve we r talking about the product and the price relathionship. For example is you charge E50 FOR A particular t-shirt or Jeans , then the quantity in the market could be lets say 2000 units. If they decries the price from E50 to E30 then you xcept the demand fo the product to increase from Quantityl to quantity 2. And from 2000 units demand can be now 3000 units. By reducing the price from E50 to E30 we increased demand for pear of Jeans to go from 2000 to 3000 units. The products that we are buying at the supermarket when a huge sells promotion and then demand increased is and this is called PRODUCT AND PRICE ELASTILITYCY or we say that the price is elastic in this case. By increasing the price, we are not able to increase demand of the product. If you think about market with luxury objects like watch, increase in price not necessary impact increase in demand of this product. Even sometimes aecrles In prlce can sena negative signal to tne market. Example: the guitar producer; very high quality producer. When they decided to demand their prices of 30% send negative signal to the customers and the company suffered. There are also product which are price elastic. There are also other factors which demands: like promotion, if you talk about different region of the country, income levels per country, tradition, 3. PRICING METHODS: (strategies) -Cost Oriented Pricing: The simple pricing method takes into account all cost of producer product then we ad additional mark up. Two types are: Full Cost Pricing: pricing takes into account full cost of making product which can be fixed and variable and adds mark up. This can include fixed cost and also variable cost. Direct Cost Pricing: Calculation of only those costs that are likely to rise as output increases ( variable costs) -fixed costs: these costs dont change as output increases , for ex: office and manufacturing facilities. Variable costs: the cost that increases as output increases, for ex: raw materials, electricity. Lets assume that full cost of producing one pair of Jeans E50 (its included fixed cost as well variable cost), hen of to of them we want additional 20% so we happy to sell it fo E60 ( Elo OF Profit on each Jeans). Direct cost involved : we can only take in to account only variable cost; we ignore fixed cost. FULL COST PRICING: A DVANTAGES: By using full cost pricing we include all cost incurred , were would it be the fixed cost or variable cost. So it is gives an indication of the minimum price, needed to make a profit. If you dont charge the minimum price to make a profit then company will be making a lose It X has the constraint, we use other methods. AND this will be competetitive pricing as well marketing orientation price. If you dont consider all cost in the long term company will be making lose o could go bankrupt because if you dont cover all the cost in term it is difficult to make a profit and if you are not making a profit, you wont be able to cover the cost in the long term. CRITICISMS: Because its looks in a personal orientation rather than in external marketing orientation by charging a price, we are ignoring the customer willingness to pay. Lets assume that I develop a new product for example a laptop, and using a new software. Each laptop costs me E2000 to produce. How much profit I want to make Lets say 25%. Lets charge E500 more so my laptop is E2500. As a manufacturer I decide that I sell the laptop for E2500. It will be success? Everything depends on demand. Either the customers may be able to purchase the product and if they are willing to buy my product or not? E2500 may be too expensive and the customers will for another cheaper option. The second is followed strictly, leads to incise in price when demand falls. So when I produced my laptop it was E2000 this include fixed and variable cost; And every time demand falls for the laptop because is to expensive; And I need to still cover my fixed cost. facilities I use in the factory o fixed salary to my employees. So every time demand falls, for example I expected to sell 10. 000 units of my laptop, but I sold Just only 5000. So I still need to cover the fixed cost (for the factory, fixed salary and so on). So what happened is: the price for a product will increase because you want to cover more rather than chargingE 2. 500, now I need to cnarge Decause I nave more costs to cover so I need to cnarge E4000. When you think about it ,it doesnt make logical sense; from the market point of view because my product sold already because there is no much demand and nstead of reducing the price or changing some feature of the product you are increasing the price of the product to cover all my costs and the result will be that my company would go bankrupt. Is illogical because a Sales estimate is made before a price is set. Maybe problems in allocating overheads. The fixed cost for the organization is E50. OOO; I expect to produce 50 units and I expect to sell 50 units. So all those E50. OOO fixed cost each product will allocate EIOOO. It is difficult point of view because reality point of view we have competitors and the market acceptability of the product. And the last problem is: when I produce or example various product with in one organization it will be very difficult to allocate all head cost like electricity, rent and labour. Without to be technical what its means is when you have overhead cost such like rent, gas I will have to allocate those cost into each product. The where you allocate those costs actually will define how much the product will cost. And is very complex process, if you get it wrong some product may not be sale very well in the market , some good product actually could be pull out of the market because of the wrong allocation of the overall. DIRECT COST PRICING: Advantages: We ignore fixed cost we Just consider the variable cost; and direct cost relevant in producing one additional product in the manufacture facility. Why would I do it What are the advantages of ignoring the fixed cost Direct cost pricing avoid the problems of allocating the overhead; Indicates price up demand the problem because rather than allocating the fixed cost every time to a product we are putting in the side, we are only consider cost directly reverent to each unit of the product. Lowest price which allows the marketing people to identify the lowest price which makes sense to charge for the product. For example: If you think about Hotel or airline industry; there are some fixed cost there are also some variable cost. Airline ; ex: there are 200 seats every day on particular fly from London to Madrid. If there are 200 seats by rather we fly with 1 person or 200 people, the price, the fixed cost incurred will remain the same, but variable cost changes. For each ticket to fly we are charging E200, out of those E200, EIOO is a fixed cost (such as salary of the pilot, fuel, the charges we pay to the airport) and there are EIOO variable cost which is directly related to each passenger (the meals provided, drinks and so on). If you are the manager for this airline on the particular date only 10 people fly there will be very difficult to cover all cost. So you have dilemma and you know you cant charge E200 for a ticket, but what you can do , you can charge El 50 or E120. What does it allow us to do When we charge El 50 thats definitely covering the fixed cost, we cant do anything about it. But on top of that is also allowing us to earn what we call PROFIT MARGEN of E50. So when we sell the ticket for El 50, EIOO covers the all additional costs and variable costs and on the top of that we have E50 extra; this E50 wont cover nls Tull Tlxea cost, nowever Its covers some 0T tne Tlxea costs wnlcn Is DeneTlclal to the company. If we wont sell the tickets for a El 50 still for any lost seats on the airplane we are losing fixed EIOO (the fixed cost) So if you sell any ticket abo the EIOO it is benefitial. Criticisms: When business is buoyant, we have more demand for a product an it doesnt give any correct indication of optimum price customer is willing to pay because in this case we are charging low and actually price of the product; Using airline as a example, when we are charging direct cost pricing it can work only in the short term because if you se the strategy in the long term it means in the long term you are not covering your fixed cost and company in the future will be making significant loses SUmarazing the DIRECT COST PRICING it is a good strategy, but Just for a short time. PRICING METHODS: 1. COMPETITOR ORIENTED PRICING : Our pricing depends on what the competitors charge. Going- rate pricing: when we thing that our product or service is not different in a particular market and doesnt have any differentiation and doesnt have any competitive advantages the company will accept going rate. For example raw materials like otton; if you buying particular product it can be the same , however competitors can provide additional services, for example: better customer service , it could provide better credit terms. Ex: REAL TED TO THE Steel stake holder Trummans, who sales steel. They have the same steel product sales to the customers ; one of the strategies Trummans uses to sales the steel to the large organizations, it develop strategy of delivering on the time and there was the price guaranty saying that if they dont deliver on the time they will give 10% of money back. This strategy was so successful for organizations. Producer they were willing to pay 5% more. Competitive bidding: This happens more often in business-to-business market (82B), when organization are selling products or services to another organization. One of the difficulties in competitive bidding; example NHS or school authorities decided to build 10th additional school and they want the other instruction companies in the I-JK to bid the contract. One of the challenges in competitive bidding is charge blind. You do your research, and then you charge. Usually the supplier will choose the lowest (most competitive) price. If you were working for a particular community who should decide ho should the build the school. What are the other factors you would consider? Factors apart from price we consider, how reliable is the construction company; what are the time frame, did they build schools before, do they have the skills, is there guaranty, and many other factors. 2. Marketing orientated pricing: its listens to the market and his strategy is obviously reflected in there. There are some key factors: a) Marketing strategy: when you thinking about pricing the product o service, each should be in line with the marketing strategy. For example when we launch a new product there are TWO STRATEGIES available to us: MARKET SKIMMING or PRICE PENETRATION and both of those methods could be use when we launch a new product. You cant use both in one time; you can use one or tne otner. Ana tnen It wlll nave tne marketing consequence. What is our positing strategy: when we are launching a new product our choice of target market and creating differentiation advantage, the value is delivered to the customes. For example: when first calculators were developed they had 3 key segments: they had engineers and scientists who pay high values to the calculator and accountants and bankers and general public. o for the first segment they charged E250 per calculator, when for general public when Casio entered the market was Elo or less. So managers should decided which target market they should concentrate on, and understand the values. When we think about Mercedes Case study, we look on over their sells to higher customers then and now they are increasing their segment, they are bringing modify versions of the cars which are bit cheaper to the high car segment. Merceds by producing different models, modify the versions of the models they are able to charge different prices and then attract the arger segments B)Price quality relationship: there is a relationship between price and the quality received by customer. Many people use the price as a indicator of the quality of the product or service. The study has shown that higher price of the cars presets higher quality. Ex: pills for the pain. They were two types of pills, one E2. 50 ,other EO. 50, but they were the same pills. But after research on customers , the consumers said that pills for E2. 50 were working better. Another example is trying the wine, test with 2 bottle of wine. c) Product Line pricing: you looking in existing roduct and you expending product range so you can charge different price ranges. For example, when you think about Apple, when they launched iPod shuffle for E50, when the iPod cost E250. By bringing the simple version of the iPod, you are attractive new segment, because there is a massive different between to pay E50 and E250. and this increase the revenue for the organization And profit. However, you need to be very careful by charging to little for the product to an attractive a new segment, and it can send it confusing message to the other segment. d) Negotiating margins: is where we expecting the price reduction. When we pay the price different from the list price. It can depend on getting large order, paying cash in developing countries which is an advantage. if the negotiating price is a part of the culture, of tradition; and those companies who are launching their product in this particular country should be it should take it this in to the count with their pricing strategy. d) Political factors: If you charge high prices and the public cry European commission can intervene, like for medicine products and childrens games. For example in the I-JK regulation off come had to reduce the prices like orange. If there is situation of monopoly and the only one organization provides the service or oligopoly,when we have few large players in the market , market should be tightly controlled by organizations which consider competition and protects their customers. For example if you think about recent out cry of increase prices of electricity and gas by 10%, so you have 6 large players in the I-JK market which dominate 95% of the market. So if they decide to increase the price by 10% those 6 organizations work together and is very difficult for the customers to go somewhere else because you dont have an option. Politician can entered and hold them for the price changes. e) Costs: what every we do in the market, in the future the price we charge should cover all cost consider, whatever it could be variable cost or fixed cost as such. f) Effect on OlstrlDutors/ retallers: wnen we use tne OlstrlDutors, Tor example IT you nave aalry product manufacturer and you sale your products through the supermarkets. In this case when you change the price, you need also consider rules of the retailers. For example, the Mullher yogurts, if you want to use penetration pricing distributors can refuse your product, it is not much profit to be made. ) Competition: in the market, you cannot operate in isolation. There are always other companies offering similar product or service. Your price is in one way or to other, and is related to your competitors. We need to understand who the competitors are. First, you have imitative competitors the competitors who are producing technically similar product. You can have secondary competitors : different product selling in the same way. h) Explicability: means that sells people to explain why they are charging particular price, specifically the higher price for product and service. They should be able to justify the price. Think about the Michelin tires, there are one of the biggest manufacturers in the world. As far as car manufacture is considered and being the largest in the market they also charge the premium price for the particular tires. If you are the car manufacturer you want to understand why are you paying the premium price. If they are able to explain why the price is high due specific technology to develop those particular tires, higher quality, the longer life of the product then obviously the manufacturer may be more willing to purchase the product and pay higher price than the competitors. i) Value to customer: it is very mportant to us to estimate what is the product value to the customer; because we can use various methods to assess their value to the customers as far as manufacture product is concerned. We can use different test to see how much customer is ready to pay for the product: 1. rade of analysis :it measure between the price and other product features which may impact the product preference; For example, by using the trade of analysis could it provide it different product features with different price range and could be asked what product they prefer. You can even do the test for a launching the ice cream. By applying trade of analysis you find what should be the optimal price and what qualities should be included in the product which are valued by customers. 2. Experimentation : when we have the particular product , lets say if you think about supermarkets they have hundreds of stores in the I-JK. When the launch a new product in a different location they can launch the same product with different prices i different location, to asses the customers reaction where they are happy to buy a product. They can decide for other stores what should be the price. When they do the experimentation , they can use ontrolled store experiment, they selct some stores and compeer ; for example if you have 300 stores you pick 50 of them and you launch the product and in other 250 you launch the product; then you compare the impact of the price change of those 50 to other 250 stores. . test marketing: works in the way if you have again 300 stores, rather than launching the product you can decided to pick up several stores to launch the product with the particular launching strategy and to see how it is performing as far as the pricing is concern you can make good decision of what should be the pricing, the strategy for the overall product of stores. 4. economic value analysis to the customers: ve ry important to 82B business. They consider the economic value of the product. Ex: Michelin tires . car manufactures purchasing tnelrs product, tney want to unaerstana wnat Is tne economic value 0T partlcular tire And what the duration of this product. for example you pay more, but last double time than the competitors product. PRICING NEW PRODUCT STRATEGIES MARKET SKIMMING: Marketing Skimming Pricing- is when we charge a high price to attract the least price sensitive market segments. We try to attract the market segments, which are not price sensitive. Many companies which invent a new product initially set high prices to skim the revenues layer by layer from the market because when they launch a new product there are not other product available in the market. Good example will be when digital cameras were first introduced they were selling for over E 1000 for the public and for around E 5000 for semi professional. In 2003 when Canon introduced similar cameras but they were priced less than EIOOO they sold 1. billion units in a year because was huge demand. Another good example will be when Sony launched first HD TV in 1990s the price was E30. OOO per TV, and now around E500. There are 7 key factors which should be applicable when we use the skimming market: what we need to take toa count for a particular organization it doesnt need to be all 7 conditions, it could be some of the conditions met. 1. Product provides high value: If the product provides high value you can charge the premium price. But what you need to take to a count is high value could be due functional compatibility of the product; for example, better design, better material, better technology, but also could be some sociological value when you buy a perfume roduct like Chanel, is more a sociological value than the functional value. 2. Customers have high ability to pay: If the customers are not able to buy the product it is very difficult to sell it. For example when you launch the product in the development countries your product could be offer a very high quality , you may have very high demand for a product. However, you cant launch the product using skimming strategy if the income of those people does not allow to buy your product 3. Consumer and bill payer are different: For example hotels. Hotels can charge premium price during the weekdays where mostly business people stay in the hotel. However, on the weekends they can charge much lower prices for the families. During the business needs , the company is more than happy to pay a premium price and the people dont pay for the room, the company that they work for them. The same with the trains, in the morning they charge more, because they now that professional are going to work. 4. Lack of competition: in extreme case you will have the monopoly and there is one large organization in the particular market and where is no competitor you can charge a premium price, because customers they dont have any option, for example the gas/oil company. 5. Excess demand: limited amount of supply and the price for the product goes up. 6. High pressure to buy: in case of emergency customers are happy to pay more for the product o service. For example, the airplanes companies, they pay more for the urgent repairs.. Because where is the problem at the airport territorial and they need and urgent repair. The cost of the urgent situation they will pay the premium price. 7. Switching costs: it could be very expensive Tor me to cnange my product needs Trom one suppller to anotner. IT you think about an organization, lets say if you are particular retail bank and you already nvested millions of pounds in your IT system and you are using lets say windows operating system and on the top of that you are investing rather on other program. Lets say windows 8 and related problems and as a organization you are not happy with your windows operating system; at the same time changing the windows operating system you need to consider the switching cost, money already invested. Changing the operating system can be very expensive( training the stuff and so on). Switching the mobile phones for example from iphone to Samsung, and you have at home your music system that works with the iphone, but doesnt work with the Samsung mobile. So this may be expensive, because you may have to buy a new music system suitable for a Samsung. PRICING NEW PRODUCTS STRATEGIES MARKET PENETRATION PRICING: MARKET PENETRATION PRICING we use aggressively low price to gain volume and market share. Companies can set a initial low price to penetrate the market quickly and deeply to attract a large number of buyers in the market and have large market share. Once the market share is won, organisation may decide to increase the price which happens in most of the times. There are 6 conditions 1. Only feasible alternative: For example if you have a product, which is not so ifferent to competitors product in the market and you want to launch this product you have to go to competitive launch pricing. You try to charge similar price as your competitors or you charge less price to attract more customers. 2. Market penetration or domination: some companies use market penetration or domination strategy to gain the market share. For example, insurance company the Direct Line was launch , aggressively challenge all insurance companies because they offer direct services . And now they are the market leader for home and auto- insurance. 3. Experience curve effect/ low costs: example for higher product which uses market penetration and domination strategy by charging market penetration prices. High quality product you charge lower price , penetration pricing once you have the market share then you increase the price. Good example will be the Mercedes company in the US market in 1967. When they entered the market in the US the Mercedes wasnt known for the quality. They charged much lower price in 1967 to attract more customers, to let customers know. hat good quality cars they were producing. By 1982 the Mercedes doubled the price. if you increase output of the roduct, the cost reduces. If the production double then the cost of producing the product reduces by 20%. The larger corporations which they have high production facilities they can significantly reduce their prices so they have better market competitive advantage to bit the competitors. For examp le, Intel due to the large market share (80%) when they were challenged by smaller company AMD, due to the cost advantages of Intel they could reduce the price up to 60%. Within 6 weeks they defeated the competitor. Because the Itel was already making the huge profit, they could manipulate the prices to bit the competitors. . Make money later or elsewhere: Make money later- when you make a product you are happy to not making any profit Tor tne product you sell, out tnen agaln you wlll make money later on selling additional product. For example the printers. You buy the printer for E30 and then you run of the ink, so you need to buy a new ink for your printer. So if you buy a new one you must buy ink for a particular printer. And then you have to pay some like E40/50, Those companies make more money on selling the inks for the printers than on actually printers. The other example will be the Gillette company with theirs razors. They make more money on razors than on blades. They make 5% on the razors, and 95% is coming from the blades. Make money elsewhere for those who drive the cars so you need a petrol, sometimes supermarket who sells the petrol doesnt make money, but they work as a trigger to attractive people to make the shopping. . Barrier to entry: If you have already low price, it can be difficult for competitors to enter , example : easy Jet and Rainair. They have already large market share they allow to manipulate the market, as at the same time it will be very difficult for a new companies to enter to bit them with the prices. . Predation: is when you artificially reduce price to put you other competitors out of the business. Once you get rid of you competitors then you increase the price for your product. Microsoft was accused for predation, when they banded 3 software such as internet browser and Media Player with his best selling windows operating system. NEW PRODUCT LAUNCH STRATEGY: High Rapid skimming Slow skimming Rapid penetration Slow penetration PROMOTION Low PRICE Rap10 SKImmlng ana Slow sKlmmlng: we cnarge tne premium prlce, promotlon could be high as well or promotion could be low, when we call a slow skimming. RAPID SKIMMING- when we charge a lot of money for the product and spend a lot of on promotion. For example Nike or Adidas: they spend significant amount money on promotion. However, there are some companies whose not spending money on promotion. For example, the Rolls-Royce company , they are expensive, but they dont spend money on promotion because this is very well know brand. The same the Swiss watches. PENETRATION PRICING : THE price is low but we can spend huge amount of money on promotion or lower amount of money on promotion. RAPID PENETRATION: in this case we spend a lot of money on promotion but the price is low. When you think about easy Jet and Rayanair when they spend significant amount of money to promote the cheapest fly. SLOW PENETRATION STRATEGY: when we say the price is low but we dont spend any money on promotion. Especially if we have on label brand , any supermarket ; asda fines wines, etc. PRICING EXISTING PRODUCTS STRATEGIC OBJECTIVES BUILD OBJECTIVE: and e want to increase the market then it would depend whatever on price sensitive market so price lower than competitors. If the price is insensitive then pricing, strategy depends on positioning strategy; for example, sometimes increasing the price could be a etter strategy, depending where you are in the market. Example Luis Vuitton when during Christmas they were struggling with the supplier with their particular bags they did increase the price by 20%. This increase made that people were even more interested to buy the bags. In this situation added value to the brand . HOLD OBJECTIVES: (HOLD SALES/ MARKET SHARE): we are protecting our market share. we dont want to increase our market share but in the same time we dont want to reduce it. Everything depends on how on competitors are doing. Supermarkets: the biggest 6 have their shares and they dont want any other to enter. If Tesco starts the war of reducing the prices then Asda would follow AND THE same strategy would by follow buy other. So they are fghting with each other to make sure they wont lose their position in the market share. HARVEST OBJECTIVE ( MAINTAIN OR RAISING PROFIT MARGINS EVEN THOUGH SALES/ MARKET SHARE FALLING) : when we serve one segment and we want to move to other segment. Reposition the existing product. Ex: Skoda cars, they had to reposition their product, because few years ago their cars were cheap, bad quality. Once Skoda repositioned their segment they became one of the top sellers in the western Europe. PLACE ( DISTRIBUTION)

How to Handle Dry Ice Safely

How to Handle Dry Ice Safely The solid form of carbon dioxide is called dry ice. Dry ice is the perfect ingredient for fog, smoking volcanoes, and other spooky effects! However, you need to know how to transport, store, and use dry ice safely before you get it. Here are tips to help keep you safe. How To Get and Transport Dry Ice You can obtain dry ice from some grocery stores or gas companies. Its important to be prepared to transport dry ice before you purchase it. This will help it last longer and prevent accidents. Plan to get enough dry ice. It will sublimate at the rate of  five to ten pounds each 24 hours (for pellets or chips), so if you wont be using the dry ice right away, plan for the loss of product. The rate of sublimation also depends on the exposed surface area. Dry ice pellets will convert to gas more quickly than a solid chunk of dry ice.  Bring a cooler or a cardboard box. Your goal is to insulate the dry ice from warmer temperatures. Its also helpful to have a blanket or sleeping bag to wrap around the container to protect it from temperature changes.Usually dry ice is sold in paper bags. Set the paper bag inside the box or cooler. Close the lid to insulate the dry ice, but make sure it does not seal. This is important, because dry ice sublimates from its solid form into carbon dioxide vapor. The gas builds up pressure and could cause an explosion if it doesnt have a way to escape.As sublimation occurs, the level of carbon dioxide in the vehicle will rise. Make sure new air c irculates into the vehicle to prevent carbon dioxide poisoning. Storing Dry Ice The best way to store dry ice is in a cooler. Again, make sure the cooler is not sealed. You can add insulation by double-bagging the dry ice in paper bags and wrapping the cooler in a blanket. Its best to avoid putting dry ice in a refrigerator or freezer because the cold temperature can cause your thermostat to switch the appliance off, carbon dioxide levels could build up inside the compartment, and gas pressure could force open the door of the appliance. Using Dry Ice Safely The 2 rules here are (1) dont store dry ice in a sealed container and (2) avoid direct skin contact. Dry ice is extremely cold (-109.3 °F or -78.5 °C), so touching it can cause immediate frostbite. Use gloves or tongs to handle dry ice.Be aware cold carbon dioxide sinks, so risks from too much carbon dioxide are highest close to the ground or in any enclosed space. Make sure there is good air circulation.If youre using dry ice in drinks to produce fog, be careful you dont ingest the dry ice fragment. Ingesting dry ice is a medical emergency because of the tissue damage from frost bite and the pressure buildup from the release of gas. Dry ice sinks in a glass or bowl, so the risk of ingestion normally is very low. However, do not allow intoxicated people to drink dry ice cocktails or work with dry ice. How To Treat a Dry Ice Burn Treat a dry ice burn the same way as you would treat frostbite or a burn from heat. A red area will heal quickly (day or two). You can apply burn ointment and a bandage, but only if the area needs to be covered (e.g., open blisters). In cases of severe frostbite, seek medical attention (this is extremely uncommon). More Dry Ice Safety Tips Never leave children or pets unattended around dry ice.Be aware of symptoms of carbon dioxide poisoning and make sure there is good air circulation where dry ice is used and stored. Ordinarily, slightly elevated levels of carbon dioxide dont pose a significant health risk. The levels of carbon dioxide are most likely to become too high near the ground.If youre using dry ice to chill food, youll get the best results if you put the dry ice on top of the food. This is because cold sinks.Avoid setting dry ice directly onto counter tops or placing it in empty glass containers. The temperature shock could crack the material.Some airlines will allow you to carry dry ice, but not more than 2 kilograms. Expect the dry ice to sublimate at a slightly faster rate than usual because cabin pressure may be lower than normal pressure. Pack the dry ice with crumpled paper or a blanket to reduce loss.

Integrated Spatial Fire and Forest Management Planning Article

Integrated Spatial Fire and Forest Management Planning - Article Example The article puts forward the notion that fire science should reapply many of these metrics so that human activities, the impact of access roads, and other factors are counted alongside the information that has traditionally been accounted for with regards to fire loss estimates as a means of more realistically relating key information to the concerned parties. An alternative view of this particular debate is with regards to the fact that many individuals within the fire service community and forcefully management communities are of the opinion that human impacts upon natural environments cannot be categorically stated or counted in a verifiable manner due to the fact that many of these impacts are created long before forcefully management and/or subsequent forest fires actually take place within the region. Although it is true that certain human impacts to forest management and forest fires as a whole can take place long after the region has been designated as a forestry management a rea or even experienced a forest fire. This disconnect between time periods and the means by which human impacts affect different regions to a different degree casts a level of doubt with regards to the metrics and means by which the authors of this particular article measure it against is somewhat worrisome due to the fact that the metrics by which the authors propose would necessarily have the individual believed that any and all forest fires are impacted upon by the very same mechanism.

Crowdscourcing Term Paper Example | Topics and Well Written Essays - 3750 words

Crowdscourcing - Term Paper Example Today through crowd sourcing, the company can use a huge number of less technical people to carry out complex and highly ingenious tasks at very low costs. As a result, the basic idea behind crowdsourcing is to increase productivity while at the same time reducing involved costs in the production process (Mau, 2004). This involves the use of internet where the company solicits feedback from a community of many active and passionate people, which will help the company in significantly reducing the time that it would take to collect data about the same information in the field through a research or other formal focus groups. Therefore, by having customers involved in the branding activities, marketing and the product design and development processes, the organization can greatly save on the staffing costs required and cater for the numerous risks and uncertainties in the market place (Mau, 2004). History The process of requiring customers to have an input in developing products is not new. However, open-source software has changed the approach by making it possible for many people to be involved in such a process. In today’s technology, it is possible to have numerous people undertake tasks that would seem too complex for their level of technical knowledge, mainly driven by factors such as the development of blogs social networks such as Facebook, twitter, MySpace and YouTube. This has made the traditional differences producers and consumers to vanish and leave a thin line that becomes hard to isolate, leading to a market that has a collective intelligence (Brabham, 2008). In other words, in the market today, it is possible to access people’s passion, knowledge, their creative ideas and insightful thinking. This translates to improved production and increased innovations numerous minds are brought together in an economy driven by intellectuals. Open source code, the invention of Stallman an MIT graduate that dates back to 1983 has made crowdsourcing in the IT a great success and has helped companies to reap big from crowdsourcing. This led to development of Unix operating system by 1991 where the developer Linus Torvalds, a computer scientists based in Finland requested ideas from people on how to develop a free operating system, which led to the current Linus operating system, which is the globally largest and world most successful open code software today (Howe, 2008). In interface design, users create socially adaptable interfaces that address interface complexity where users come up with customizations linked to specific tasks, which are then made available to an online community through an online repository. Once the users have created a collection of test sets, the users then customize the interfaces created with a keyword search in finding and installing specific task sets, resulting to a situation where users can issue direct commands to the interface. Therefore, crowdsourcing has its origin from academic researchers w ho designed digital resources that supported research and data interpretation methods, which involved visualization of data, computational analysis, data mining and simulations (Oomen & Aroyio, 2011). Consequently, in interface design, the result was that users were henceforth able to automate difficult tasks to compute,

Four Circles of HR Professionalism Assignment Example | Topics and Well Written Essays - 2000 words

Four Circles of HR Professionalism - Assignment Example This involves having a knack for managing people and conducting activities which may include hiring and recruiting the staff, managing work culture and job performance within an organization, training the personnel working within an organization, assuring that the staff complies with the rules and regulations in an organization, and the overall management of the behaviour of personnel at the workplace (Sartain &Finney 2005). Thereby in a professional context, any HR manager does need to be astutely aware of as to how to conduct oneself at the workplace (Kulik 2004). There stand to be some predominant professional considerations related to the workplace that an HR manager does need to hold sacrosanct. As an HR I am well aware of the fact that within a professional environment it is not only the sacrosanct ‘best practices’ but also an array of rules and regulations that my conduct needs to be subservient to. I am well aware of the fact that for the personnel I manage, I am the actual company. Not only the staffs that I manage to view me as the management but in the courts of law, I will also be considered to be the actual employer (Muller 2012). This realization has a serious impact on my professional conduct. I am well aware of the fact that as an HR manager I will always be directly held responsible for the things I do or fail to do for the employees (Muller 2012). The other thing that I always keep in my mind is that employees never leave organizations; they mostly tend to leave bosses. Thereby I also keep in my mind that every employee that comes to work in the organization is not a passive toolbox, but rather a complete person with a heart and a mind and a soul. My approach towards employees is always imbued with concern and I hold very human expectations from them. I well understand the fact that employees do always need a feedback. Whether they are doing a good job or are not doing well, the employees are mostly not able to ascertain it until they are evinced an honest feedback (Slade 1994). I have also realized that extending a timely feedback to the employees does go a long way in assuring organizational efficiency and thereby as an HR professional I make it a point to be thorough and prompt with the feedback I extend to the employees.  

Muscle is highly plastic and many changes occur in muscle as a result Essay - 1

Muscle is highly plastic and many changes occur in muscle as a result of neurological disease. Critically evaluate this statement - Essay Example Notably, in MS disease, the muscles loses their elasticity, spasm and rigidity ensue (Nylander & Hafler, 2012). Multiple Sclerosis (MS) is one of the conditions of neurons origin that causes extensive muscles involvement. After extensive research, it was established that the disorder was of one the muscles-involving disease that continue to impair muscles plasticity. Together with other diseases such as Myasthenia gravis, Parkinson, it has been established that muscular involvement in these diseases arises from the neuromuscular connection. Multiple sclerosis refers to a neuron disease that occurs when nerves undergo degeneration resulting in loss of functions. The exact cause of the disease is largely unknown. However, existing studies links it to an autoimmune disorder that cause destruction of nerves (Compston & Coles, 2002, 2008b). In other severe cases, loss of nerves functioning causes permanent disability since nerves cannot be regenerated. This focus will examine existing literature to provide an association of muscles properties and neurological involvement. Muscle is an integral part of the skeletal and even visceral parts of the human body. There are of either skeletal or visceral origin. Irrespective of their types, they are needed for normal body function. More specifically, skeletal muscles are necessary in support and movement and visceral muscles are primary parts of internal organs. Besides, they facilitate tissues and organ varied degree of changes including peristalsis. However, in MS, muscles are significantly impaired depending on their location and severity of the disease. To understand the basis of muscles involvement in MS, it is important to look at the Central Nervous System (CNS) and more specifically structural components of a nerve. One way to understand this is to consider myelin sheath autoimmune destruction. During MS, there is gradual attack of the myelin

Entamoeba histolytica Essay Example | Topics and Well Written Essays - 2000 words

Entamoeba histolytica - Essay Example The Entamoeba histolytica is the protozoan responsible for a disease called amoebiasis1. It mainly occurs in the large intestines and causes inflammation as its name suggests. The number of infections worldwide as a result of the parasite can be approximated at 35-50 million people, majority of whom are in developing countries where there is a problem of poor sanitation2. Entamoeba histolytica is a pathogenic parasite that occurs within the intestines and is the sole causative agent of amoebiasis, lack of proper hygiene can be ascribed as be one of the foremost causes of infection by the pathogen. The Entamoeba histolytica is an anaerobic protozoan that causes an infection in the digestive system of mainly humans and other primates2. It is estimated that the parasite has infected approximately 50 million people in the world over and it has had a major role in the morbidity and mortality especially in the developing countries. In addition, animals close to the home such as dogs and cats may also be infected regularly but are not believed to contribute to the transmission of the pathogen3. However, though there are numerous species of protozoa in the genus Entamoeba, not all of them are disease causing organisms. The Entamoeba histolytica is known to cause what is commonly referred to as amebiasis in humans which can either cause internal infections in the intestines or external ones2, 3. Even though some members of the Entamoeba genus are not associated with disease, they are important since they often may be confused with Entamoeba histolytica in diagnostics. Though it has a rather well distribution of incidence worldwide, there is higher incidence of amebiasis in developing countries. Medically speaking, in order for one to get infected by the protozoa, they ought to have ingested mature cysts that may be present in

Muscle is highly plastic and many changes occur in muscle as a result Essay - 1

Muscle is highly plastic and many changes occur in muscle as a result of neurological disease. Critically evaluate this statement - Essay Example Notably, in MS disease, the muscles loses their elasticity, spasm and rigidity ensue (Nylander & Hafler, 2012). Multiple Sclerosis (MS) is one of the conditions of neurons origin that causes extensive muscles involvement. After extensive research, it was established that the disorder was of one the muscles-involving disease that continue to impair muscles plasticity. Together with other diseases such as Myasthenia gravis, Parkinson, it has been established that muscular involvement in these diseases arises from the neuromuscular connection. Multiple sclerosis refers to a neuron disease that occurs when nerves undergo degeneration resulting in loss of functions. The exact cause of the disease is largely unknown. However, existing studies links it to an autoimmune disorder that cause destruction of nerves (Compston & Coles, 2002, 2008b). In other severe cases, loss of nerves functioning causes permanent disability since nerves cannot be regenerated. This focus will examine existing literature to provide an association of muscles properties and neurological involvement. Muscle is an integral part of the skeletal and even visceral parts of the human body. There are of either skeletal or visceral origin. Irrespective of their types, they are needed for normal body function. More specifically, skeletal muscles are necessary in support and movement and visceral muscles are primary parts of internal organs. Besides, they facilitate tissues and organ varied degree of changes including peristalsis. However, in MS, muscles are significantly impaired depending on their location and severity of the disease. To understand the basis of muscles involvement in MS, it is important to look at the Central Nervous System (CNS) and more specifically structural components of a nerve. One way to understand this is to consider myelin sheath autoimmune destruction. During MS, there is gradual attack of the myelin

Ch12 - ismg3000 Essay Example | Topics and Well Written Essays - 750 words

Ch12 - ismg3000 - Essay Example As planned, and upon communicating with the IT personnel, it was disclosed that the strategy would be to continue with their intention to mirror out the site with the use of current development files and eventually run it as efficiently as possible without shutting the organization. Likewise, the plan necessitates communicating the step-by-step process intended by IT to intensify security measures with the goal of preventing the intrusion that happened. As revealed, they must communicate their courses of action regularly with the CEO, Carl Williams, and with the rest of the firm to regain their confidence, as required. perfect sense in a world of instant information access. It presupposes that the staff would gather all the relevant information and details that is deemed crucial in resolving an identified problem. As such, it also takes into consideration that an extensive and comprehensive analysis has been done in-depth to enable the staff to select the most effective recommendation given that it would be the most beneficial for the organization. The contemporary world that provides immediate access to information is conducive to this doctrine as it enables the personnel to collect as much useful information as possible. Only when the report has been completed in greater detail and in full disclosure, should the approving authority, a CEO, in this situation, would be needed to either approve or disprove what has been proposed. From previous chapters, it was explicitly revealed that the CEO does not want to be bypassed, especially when there are relevant concerns that need to be elevated to the Board. If Baron would bypass Williams, the move would cause tremendous strain and earn the ire of Williams. In the current situation, Barton must regain William’s confidence in him and what good he can do for IT and for the organization, as a whole. By bypassing the CEO, it would send the message that

Nature of Communities Essay Example for Free

Nature of Communities Essay At the beginning of the 20th century there was much debate about the nature of communities. The driving question was whether the community was a self-organized system of co-occurring species or simply a haphazard collection of populations with minimal functional integration (Verhoef, 2010). Krebs (1972) described a community as an assemblage of populations of living organisms in a prescribed area or habitat. However, according to Wright (1984), the working definitions of community can be divided into two basic categories: organismic or individualistic. The organismic approach contends that communities have discrete boundaries and that the sum of the species in an area behaves as organism with both structure and function. In contrast, the individualistic concept regards communities as collections of species requiring similar environmental conditions (Wright, 1984). A)Organismic versus individualistic distribution Solomon (2005) stated that the nature of communities is discussed based on two traditional views which are Clements’s organismic model and Gleason’s individualistic model. The organismic model views community as a superorganism that goes through certain stages of development (succession) toward adulthood (climax). In this view, biological interactions are primarily responsible for species composition, and organisms are highly interdependent. In contrast, according to individualistic model, abiotic environmental factors are the primary determinants of species composition in a community, and organisms are largely interdependent on each other. According to organismic concept it is expected that an entire community or biome will respond as a unit and to relocate as climatic conditions change. Pleistocene biome migration in response to multiple glaciations, the accordian effect, is a classic example of this model (Wright, 1984). In contrast, Wright (1984) further explained that the individualist expects each species experiencing similar climatic changes to respond independently and thus, the community composition of an area to change via both immigration and emigration of some individual taxa while others remain in the area. Communities are not stable under this model but recognize in response to changing local conditions. According to Clements’ organismic hypothesis, species that typically occupy the same communities should always occur together. Thus, their distributions along the gradient would be clustered in discrete groups with sharp boundaries between groups (Russell et al., 2011). In the 1920s, ecologists; Frederic Clements and Henry A. Gleason developed two extreme hypotheses about the nature of ecological communities (Russell et al., 2011). Clements championed an interactive (organismic) view describing communities as â€Å"superorganism† assemblages of species bound together by complex population interactions. According to this view, each species in a community requires interactions with a set of ecologically different species, just as every cell in an organism requires services that other types of cells provide. In contrast, Gleason proposed an alternative, individualistic view of ecological communities. He believed that population interactions do not always determine species composition. Instead, a community is just an assemblage of species that are individually adapted to similar environmental conditions.According to Gleason’s hypothesis, communities do not achieve equilibrium; rather, they constantly change in response to disturbance and environmental variation. According to Gleason’s individualistic hypothesis, each species is distributed over the section of an environmental gradient to which it is adapted. Different species would have unique distributions, and species composition would change continuously along the gradient. In other words, communities would not be separated by sharp boundaries. B)Stochastic Versus Equilibrium Schools The stochastic school believes that most communities exist in a state of equilibrium, where competitive exclusion principle is prevented by periodic population reductions and environmental fluctuations (Crawley, 1997). More generally, stochastic effects can cause a population to shift from one type of dynamic behavior to another (Turchin, 2003). In addition, stochastic school maintains that physical and temporal factors are dominant influences of community composition. This view argues that species abundance varies and is largely determined by differential responses to unpredictable environmental changes (Levin, 2009). In contrast, the equilibrium explanations assume that community composition represents the stable outcome of interspecific interactions (set of species abundances reached when the rates of change in population is zero) and also assume that the community will return to an equilibrium after those populations are perturbed (Verhoef, 2010). For instance, the traditional equilibrium model assumes that the probability of an individual fish larva surviving to reproduce is limited in a density-dependent manner by the abundance of the adult fish. Alternatively, stochastic model predicts that recruitment to the adult phase is independent of the density of the adults (Chapman et al., 1999). Equilibrium model states that species richness is entirely determined by ongoing immigration and extinction (Kricher, 2011). Therefore, equilibrium model can be said to be deterministic process which is important in shaping community structure through competition and predation on native species over short temporal scales (Thorp et al., 2008). For example, Chapman et al., (1999), stated that coral reefs communities are at equilibrium showing precise resource partitioning in response to the competition between the various fish species. However, in contrast, the community may also be more susceptible to stochastic processes. For example, the number of fish species on coral reefs is kept high largely by stochastic processes. According to Naiman et al., (2001), stochastic processes are unpredictable and operate in a relatively density-independent fashion. This is the opposite of the traditional, equilibrium hypothesis which emphasizes density dependent competition between species.

Indias Financial Markets

Indias Financial Markets As all the Financial Markets in India together form the Indian Financial Markets, all the Financial Markets of Asia together form the Asian Financial Markets; likewise all the Financial Markets of all the countries of the world together form the Global Financial Markets. Financial Markets deal with trading (buying and selling) of financial securities (stocks and bonds), commodities (valuable metals or food grains), and other exchangeable and valuable items at minimum transaction costs and market efficient prices. Financial Markets can be domestic or international. The Global Financial Markets work as a significant instrument for improved liquidity. Financial Markets can be categorized into six types: Capital Markets: Stock markets and Bond markets Commodity Markets Money Markets Derivatives Markets: Futures Markets Insurance Markets Foreign Exchange Markets The Financial Markets play a major role in the Global Economy because it helps businesses to raise capital (in capital markets), they facilitate transferring of risk (in derivative markets), and they help international trade (in currency markets) to prosper. The International Stock Markets form a major part of the Global Financial Markets. The Amsterdam Stock Exchange is the oldest stock exchange, which started operating in continuous trade in the earlier part of the 17th Century. Some of the Important Stock Exchanges of the world are: The New York Stock Exchange (merged with Euro next): The New York Stock Exchange (NYSE) is a stock exchange based in New York City, USA that was incorporated in 1817. In terms of dollar volume, it is the largest stock exchange in the world, and in terms of the number of companies listed it is the second largest stock exchange in the world. The NYSE is also known as the Big Board. The indexes used in the NYSE are the NYSE Composite Index and the Dow Jones Industrial Average Index. The NYSE functions under NYSE Euro next, the formation of which was the result of NYSEs merger with Archipelago Holdings and Euro next. Tokyo Stock Exchange: The Tokyo Stock Exchange (TSE), incorporated in 1949, is located in Tokyo, Japan. In terms of monetary volume, The Tokyo Stock Exchange is the second largest stock exchange in the world, only next to New York Stock Exchange. The indexes used in the TSE are Nikkei 225, Topix, and J30. NASDAQ: The National Association of Securities Dealers Automated Quotations, or NASDAQ, is an electronic stock market based in New York City, USA that was incorporated in 1971. The NASDAQ Stock Market, Inc. is the owner and regulator of NASDAQ. The main index used in NASDAQ is the NASDAQ Composite. London Stock Exchange: Established in 1801, the London Stock Exchange (LSE) is one of the oldest and largest stock exchanges in the world. In terms of market capitalization, the London Stock Exchange was ranked 4th among all the other important stock exchanges in the world in March 2007. The London Stock Exchange is located in Paternoster Square near St. Pauls Cathedral, London. The stock market index of London Stock Exchange is the Footsie (FTSE). Euro next (merged with NYSE): Founded in 2000, Euro next N.V. is a pan-European Stock Exchange, which is based in Paris. In terms of market capitalization, Euro next ranks as the fifth largest stock exchange in the world. There was a merger of Euro next with the NYSE Group, which led to the formation of NYSE Euro next and it is the first global stock exchange. The main indexes used in Euro next are the Euro next 100 Index and the Next 150 Index. The Bombay Stock Exchange (BSE): Located in Mumbai, India and founded in 1875, the Bombay Stock Exchange is the oldest stock exchange of Asia. The main index of BSE is called the BSE Sensex (Sensitive Index) or the BSE 30. In terms of volume of transactions, the BSE was ranked as one of the top five stock exchanges in the world in 2005. Some terms that are used in the Global Financial Markets are: Geek, a Quant Grim Nerd, a Quant Quant Big Swinging Dick Rocket Scientist White Knight Today equity research has become a specialized activity, although confined to a very small segment of the market. It would be a little early to consider equity research as an independent business segment, but at the same time it must be appreciated that the value of equity research is being felt by the market. This is an interesting stage in the growth and development of equity research, especially in a situation where the traditional individual investor is unwilling to pay for vital stock related information while the institutional investor is already paying for research reports. The phenomenal growth of the financial markets over the last quarter of a century has meant that the very character of investment has changed with ever larger scales of market capitalization. The emergence of the Fund Manager as a new value addition in investment related financial services is actually a part of the growth and development of the institutional investor. The fund managers sole objective is to ensure maximum returns for his clients whose money he invests working in tandem with research inputs. The fund manager and his client are a vital part of the institutional investment process sustained by an advanced and research driven approach to capital market investment. Equity research still has some time to develop as a sustainable business model, but like any other research activity it has its limitations in developing into a booming business. Institutional investors are willing to pay ever higher amounts for in-depth and precise research in accordance with their requirements. Some of the modes of equity research are: Fundamental Analysis Technical Analysis Securities Market Analysis Index Momentum Analysis Securities Momentum Analysis Securities Chart Analysis India n Financial Market India Financial market is one of the oldest in the world and is considered to be the fastest growing and best among all the markets of the emerging economies. The history of Indian capital markets dates back 200 years toward the end of the 18th century when India was under the rule of the East India Company. The financial market in India today is more developed than many other sectors because it was organized long before with the securities exchanges of Mumbai, Ahmadabad and Kolkata were established as early as the 19th century. By the early 1960s the total number of securities exchanges in India rose to eight, including Mumbai, Ahmadabad and Kolkata apart from Madras, Kanpur, Delhi, Bangalore and Pune. Today there are 21 regional securities exchanges in India in addition to the centralized NSE (National Stock Exchange) and OTCEI (Over the Counter Exchange of India). The corporate sector wasnt allowed into many industry segments, which were dominated by the state controlled public se ctor resulting in stagnation of the economy right up to the early 1990s. Thereafter when the Indian economy began liberalizing and the controls began to be dismantled or eased out, the securities markets witnessed a flurry of IPOs that were launched. This resulted in many new companies across different industry segments to come up with newer products and services. A remarkable feature of the growth of the Indian economy in recent years has been the role played by its securities markets in assisting and fuelling that growth with money rose within the economy. This was in marked contrast to the initial phase of growth in many of the fast growing economies of East Asia that witnessed huge doses of FDI (Foreign Direct Investment) spurring growth in their initial days of market decontrol. During this phase in India much of the organized sector has been affected by high growth as the financial markets played an all-inclusive role in sustaining financial resource mobilization. Many PSUs (Public Sector Undertakings) that decided to offload part of their equity were also helped by the well-organized securities market in India. The launch of the NSE (National Stock Exchange) and the OTCEI (Over the Counter Exchange of India) during the mid 1990s by the government of India was meant to usher in an easier and more transparent form of trading in securities . The NSE was conceived as the market for trading in the securities of companies from the large-scale sector and the OTCEI for those from the small-scale sector. While the NSE has not just done well to grow and evolve into the virtual backbone of capital markets in India the OTCEI struggled and is yet to show any sign of growth and development. The integration of IT into the capital market infrastructure has been particularly smooth in India due to the countrys world class IT industry. This has pushed up the operational efficiency of the Indian stock market to global standards and as a result the country has been able to capitalize on its high growth and attract foreign capital like never before. Potential of India Financial Market India Financial Market helps in promoting the savings of the economy helping to adopt an effective channel to transmit various financial policies. The Indian financial sector is well-developed, competitive, efficient and integrated to face all shocks. In the India financial market there are various types of financial products whose prices are determined by the numerous buyers and sellers in the market. The other determinant factor of the prices of the financial products is the market forces of demand and supply. The various other types of Indian markets help in the functioning of the wide India financial sector. Features OF FINANCIAL Market in India: India Financial Indices BSE 30 Index, various sector indexes, stock quotes, Sensex charts, bond prices, foreign exchange, Rupee Dollar Chart Indian Financial market news Stock News Bombay Stock Exchange, BSE Sensex 30 index, SP CNX-Nifty, company information, issues on market capitalization, corporate earnings statements Fixed Income Corporate Bond Prices, Corporate Debt details, Debt trading activities, Interest Rates, Money Market, Government Securities, Public Sector Debt, External Debt Service Foreign Investment Foreign Debt Database composed by BIS, IMF, OECD, World Bank, Investments in India Abroad Global Equity Indexes Dow Jones Global indexes, Morgan Stanley Equity Indexes Currency Indexes FX Gold Chart Plotter, J. P. Morgan Currency Indexes National and Global Market Relations Mutual Funds Insurance Loans Forex and Bullion Indian money market AS PER RBI DEFINITIONS A market for short terms financial assets that are close substitute for money, facilitates the exchange of money in primary and secondary market. Indian money market was highly regulated and was characterized by limited number of participants. The limited variety and instruments were available. Interest rate on the instruments was under the regulation of Reserve Bank of India. The sincere efforts for developing the money market were made when the financial sector reforms were started by the government. Money markets are the markets for short-term, highly liquid debt securities. Examples of these include bankers acceptances, repos, negotiable certificates of deposit, and Treasury Bills with maturity of one year or less and often 30 days or less. Money market securities are generally very safe investments, which return relatively; low interest rate that is most appropriate for temporary cash storage or short term time needs. The National Stock Exchange, where the stocks of the largest Indian. Corporations are traded, is a prime example of a capital primary market. Regarding timing, there is no hard and fast rule on this, but when describing debt markets, short term generally means less than one year, intermediate term means one to five years, and long term means more than five years. THE NATURE OF MONEY MARKETS In this we define money markets broadly to include all financial instruments easily converted to means of payment that are used by governments, financial institutions and nonfinancial institutions for short-term funding or placements. By convention, we limit our scope to instruments of less than one year maturity. The most important function of a money market is to provide a means whereby economic units can quickly adjust through cash positions. For all economic units (business, households financial institutions or governments) the timing of cash inflows is rarely perfectly synchronized or predictable in the short run. In addition to facilitating the liquidity management of economic actors, money markets fulfill a number of additional economic functions: Interest rates on money market instruments serve as reference rates for pricing all debt instruments; Governments or central banks use money market instruments as tools at monetary policy; Short-term interbank markets, finance longer-term lending when financial intermediaries transform maturities. Features of Money Market It is a market purely for short-terms funds or financial assets called near money. It deals with financial assets having a maturity period less than one year only. In Money Market transaction cannot take place formal like stock exchange, only through oral communication, relevant document and written communication transaction can be done. Transaction has to be conducted without the help of brokers. It is not a single homogeneous market, it comprises of several submarket like call money market, acceptance bill market. The components of Money Market are the commercial banks, acceptance houses NBFC (Non-banking financial companies). It is not a single market but a collection of markets for several instruments. It is a need-based market wherein the demand supply of money shape the market. Money market is basically over-the-phone market. Dealing in money market may be conductive with or without the help of brokers. It is a market for short-term financial assets that are close substitutes for money. Financial assets which can be converted into money with ease, speed, without loss with minimum transaction cost are regarded as close substitutes for money. The major players of money market Reserve Bank of India SBI DFHI Ltd (Amalgamation of Discount Finance House in India and SBI in 2004) Acceptance Houses Commercial Banks, Co-operative Banks and Primary Dealers are allowed to borrow and lend. Specified All-India Financial Institutions, Mutual Funds, and certain specified entities are allowed to access to Call/Notice money market only as lenders Individuals, firms, companies, corporate bodies, trusts and institutions can purchase the treasury bills, CPs and CDs. Money market instruments Money market instruments take care of the borrowers short-term needs and render the required liquidity to the lenders. The varied types of India money market instruments are treasury bills, repurchase agreements, commercial papers, certificate of deposit, and bankers acceptance. Treasury Bills (T-Bills) Treasury bills were first issued by the Indian government in 1917. Treasury bills are short-term financial instruments that are issued by the Central Bank of the country. It is one of the safest money market instruments as it is void of market risks, though the return on investments is not that huge. Treasury bills are circulated by the primary as well as the secondary markets. The maturity periods for treasury bills are respectively 3-month, 6-month and 1-year. The price with which treasury bills are issued comes separate from that of the face value, and the face value is achieved upon maturity. On maturity, one gets the interest on the buy value as well. To be specific, the buy value is determined by a bidding process, that too in auctions. Repurchase Agreements Repurchase agreements are also called repos. Repos are short-term loans that buyers and sellers agree upon for selling and repurchasing. Repo transactions are allowed only among RBI-approved securities like state and central government securities, T-bills, PSU bonds, FI bonds and corporate bonds. Repurchase agreements, on the other hand, are sold off by sellers, held back with a promise to purchase them back at a certain price and that too would happen on a specific date. The same is the procedure with that of the buyer, who purchases the securities and other instruments and promises to sell them back to the seller at the same time. Commercial Papers Commercial papers are usually known as promissory notes which are unsecured and are generally issued by companies and financial institutions, at a discounted rate from their face value. The fixed maturity for commercial papers is 1 to 270 days. The purposes with which they are issued are for financing of inventories, accounts receivables, and settling short-term liabilities or loans. The return on commercial papers is always higher than that of T-bills. Companies which have a strong credit rating, usually issue CPs as they are not backed by collateral securities. Corporations issue CPs for raising working capital and they participate in active trade in the secondary market. It was in 1990 that Commercial papers were first issued in the Indian money market. Certificate of Deposit A certificate of deposit is a borrowing note for the short-term just similar to that of a promissory note. The bearer of a certificate of deposit receives interest. The maturity date, fixed rate of interest and a fixed value are the three components of a certificate of deposit. The term is generally between 3 months to 5 years. The funds cannot be withdrawn instantaneously on demand, but has the facility of being liquidated, if a certain amount of penalty is paid. The risk associated with certificate of deposit is higher and so is the return (compared to T-bills). It was in 1989 that the certificate of deposit was first brought into the Indian money market. Bankers Acceptance A bankers acceptance is also a short-term investment plan that comes from a company or a firm backed by a guarantee from the bank. This guarantee states that the buyer will pay the seller at a future date. One who draws the bill should have a sound credit rating. 90 days is the usual term for these instruments. The term for these instruments can also vary between 30 and 180 days. It is used as time draft to finance imports, exports. It depends on the economic trends and market situation that RBI takes a step forward to ease out the disparities in the market. Whenever there is a liquidity crunch, the RBI opts either to reduce the Cash Reserve Ratio (CRR) or infuse more money in the economic system. In a recent initiative, for overcoming the liquidity crunch in the Indian money market, the RBI infused more than Rs 75,000 crore along with reductions in the CRR. Call money market The call money market consists of overnight money and money at short notice for periods up to 14 days. It essentially serves the purpose of equilibrating the short-term liquidity position of banks. The call money market as a significant component of the money market possesses a few special characteristics:- Call money is an instrument for ultra-short period management of funds and is easily reversible. It is primarily a telephone market and is therefore, administratively convenient to manage for both borrowers and lender. Being an instrument of liability management, it provides incremental funds and adds to the size of balance sheet of banks. From the macro-side, developed call money market helps to smoothen the fluctuations in the reserve-deposit rations of banks thereby contributing to the stability of the money-multiplier process. A stable money multiplier in turn serves as a reliable means of monetary regulation and policy guide. From the micro angle, short-run borrowing by banks improves the efficiency of funds management in two ways. One way, it enables banks to hold higher reserve-deposit ratio than would be possible otherwise. In another way, it allows some banks to permanently increase their pool of investible funds. Hence, active well-organized call money market improves the funds management practices of banks which in turn further their overall efficiency and profitability. The money market continued to remain orderly during Q2 of 2009-10. Reflecting the surplus liquidity conditions, the call rate hovered around the lower bound of the informal LAF corridor during the Q2 of 2009-10). The call rate averaged 3.25 per cent in Q2, which was marginally higher than 3.22 per cent in Q1.Interest rates in the collateralized segments of the money market the market repo and the collateralized borrowing and lending obligation moved in tandem with the call rate during Q2 but remained below the call rate. The weighted average interest rate in the collateralized segment of the money market marginally increased to 2.7 per cent during Q2 of 2009-10 from 2.4 per cent during Q1. Transaction volumes in CBLO and market repo segments continued to remain high during Q2 of 2009-10 reflecting the easy liquidity and active market conditions. Banks as a group are the major borrowers in the collateralized segment whereas mutual funds (MFs) continue to remain the single largest len der of funds in that segment. In fact, more than 75 per cent of the lending in the collateralized segment was contributed by the MFs in Q2, reflecting their continued enhanced lending capacity. The collateralized market remained the predominant segment of the money market, accounting for more than 80 per cent of the total volume in the money market in Q2. Source = http://www.rbi.org.in/scripts/BS_ViewBulletin.aspx?Id=10690#t56 Objective of call Money Market To provide a parking place to employ short term surplus funds. To provide room for overcoming short term deficits. To enable the central bank to influence and regulate liquidity in the economy through its intervention in this market. To provide a reasonable access to users of short-term funds to meet their requirement quickly, adequately at reasonable cost. Importance of call Money Market Development of trade industry. Development of capital market. Smooth functioning of commercial banks. Effective central bank control. Formulation of suitable monetary policy. Non inflationary source of finance to government. To provide help to the industry and trade. Some practical aspect of call money market v Number of Participants in Call/Notice Money Market:- (As on March 31, 2008) Category Bank PD FI MF Corporate Total I. Borrower 154 15 169 II. Lender 154 15 20 35 50 274 v Market Shares of Constituents in Call/Notice Money Market (In Percent) Borrowings Lendings Year Banks PDs Banks PDs Others 2007 68 32 52 11 37 2008 66 34 45 11 44 v Shares of Select Participants in Call Money Market: Lending (In Percent) Year Banks FIs Total 2007 20 18 38 (15) 2008 17 14 31 (13) Banks: Canara Bank, Central Bank, PNB and SBI FIs: ICICI, IDBI, LIC, SIDBI and UTI. Parenthetic figures relate to those of the SBI. v Shares of Select Banks in Call Money Market: Borrowings (In Percent) Year Banks 2007 36 2008 39 Select banks include ABN-AMRO Bank, Centurion Bank, Citi Bank, Deutsche Bank; Grind lays Bank, HDFC Bank, Hongkong Bank, IDBI Bank and Standard Chartered Bank. Some guidelines regarding call money market by r.b.i It may be recalled that in the annual policy Statement of April 2008, the intention to move towards a pure inter-bank call/notice money market by gradually phasing out non-bank participation was highlighted. Accordingly, in stage I, non-bank participants are allowed to lend, on average in a reporting fortnight, up to 85 per cent of their average daily lending during 2007-08. Subsequently, in the annual policy Statement of April 2008, it was stated that RBI would announce the date of effectiveness of stage II, wherein non-bank participants would be allowed to lend, on average in a reporting fortnight, up to 75 per cent of their average daily lending in call/notice market during 2007-08, depending on the date when NDS/CCIL becomes fully operational. In view of the encouraging developments in the functioning of NDS/CCIL, it is desirable to accelerate the progress of moving towards a pure inter-bank call/notice money market and facilitate further deepening of repo/term money market. Accordingly, it has been decided that effective from the fortnight beginning June 14, 2007, under stage II, non-bank participants would be allowed to lend, on average in a reporting fortnight, up to 75 per cent of their average daily lending in call/notice money market during 2007-08. However, in case a particular non-bank institution has genuine difficulty in deploying its excess liquidity, RBI may consider providing temporary permission to lend a higher amount in call/notice money market for a specific period on a case by case basis. To facilitate monitoring of your operations in call/notice money market on a daily basis, you are requested to continue to submit the daily return in time to the Principal Monetary Policy Adviser, MPD, RBI as per the extant practice. Current market rate = 2.10% 3.30% Commercial Bill market Bills of exchange are negotiable instruments, drawn by the seller (drawer) of the goods on the buyer (drawee) of the goods for the value of the goods delivered. These bills are known as trade bills. Trade bills are called commercial bills when they are accepted by commercial banks. If the bill is payable at a future date and the seller needs money during the currency of the bill, he may approach his bank to discount the bill. The maturity proceeds or face value of a discounted bill from the drawee is received by the bank. If the bank needs funds during the currency of bill, it can rediscount the bill that has been already discounted by it in the commercial bill rediscount market at the available market discount rate. The RBI introduced the Bills Market scheme (BMS) in 1952 and the scheme was later modified into the New Bills Market Scheme (NBMS) in 1970. Under the scheme, commercial banks can rediscount the bills, which were originally discounted by them, with approved institutions. With the intention of reducing paper movements and in a bid to facilitate multiple rediscounting, the RBI introduced an instrument called Derivative Usance Promissory Notes (DUPN). Consequently, the need for the physical transfer of bills has been waived and the bank that originally discounts the bills only draws DUPN. These DUPNs are sold to investors in convenient lots of maturities (from 15 days up to 90 days) on the basis of genuine trade bills, discounted by the discounting bank. Commercial bill is a short term, negotiable, and self-liquidating instrument with low risk. It enhances he liability to make payment in a fixed date when goods are bought on credit. According to the Indian Negotiable Instruments Act, 1881, bill or exchange is a written instrument containing an unconditional order, signed by the maker, directing to pay a certain amount of money only to a particular person, or to the bearer of the instrument. Bills of exchange are negotiable instruments drawn by the seller (drawer) on the buyer (drawee) or the value of the goods delivered to him. Such bills are called trade bills. When trade bills are accepted by commercial banks, they are called commercial bills. The bank discounts this bill by keeping a certain margin and credits the proceeds. Banks, when in need of money, can also get such bills rediscounted by financial institutions such as LIC, UTI, GIC, ICICI and IRBI. The maturity period of the bills varies from 30 days, 60 days or 90 days, depe nding on the credit extended in the industry. Characteristics of Commercial bill Securities offered to the public must be registered with the Securities and Exchange Commission according to the Securities Act of 1933. Registration requires extensive public disclosure, including issuing a prospectus on the offering. It is a time-consuming and expensive process. Most commercial paper is issued under Section 3(a) (3) of the 1933 Act which exempts from registration requirements short-term securities as long as they have certain characteristics. Commercial paper is typically a discount security (like Treasury bills): the investor purchases notes at less than face value and receives the face value at maturity. The difference between the purchase price and the face value, called the discount, is the interest received on the investment. Commercial paper is, occasionally, issued as an interest-bearing note (by request of investors). The investor pays the face value and, at maturity, receives the face value and accrued interest. All commercial paper interest rates are quoted on a discount basis. The exemption requirements have been a factor shaping the characteristics of the commercial paper market. The following are requirements for exemption: The maturity of commercial paper must be less than 270 days. In practice, most commercial paper has a maturity of between 5 and 45 days, with 30-35 days being the average maturity. Many issuers continuously roll over their commercial paper, financing a more-or-less constant amount of their assets using commercial paper. The nine-month maturity limit is not violated by the continuous rollover of notes, as long as the rollover is not automatic but is at the discretion of the issuer and the dealer. Many issuers will adjust the maturity of commercial paper to suit the requirements of an investor. That proceeds from commercial paper issues be used to finance current transactions, which include the funding of operating expenses and the funding of current assets such as receivables and inventories. Proceeds cannot be used to finance fixed assets, such as plant and equipment, on a permanent basis. A safekeeping agent hired by the investor held the certificates, until presented for payment at maturity. The settling of the transaction, (the exchange of funds for commercial paper first at issuance and then at redemption, occur in one day. On the day the commercial paper is issued and sold, the investor receives and pays for the notes and the issuer receives the proceeds. On the day of maturity, the investor presents the notes and receives payment. Commercial banks, in their role as issuing, paying, and clearing agents, facilitate the settling of commercial paper by carrying out the exchanges between issuer, investor, and dealer required to transfer commercial paper for funds. Types of Commercial Bills: Commercial bill is an important tool finance credit sales. It may be a demand bill or a usance bill. A demand bill is payable on demand, that is immediately at sight or on presentation by the drawee. A usance bill is payable after a specified time. If the seller wishes to give sometime for payment, the bill would be payable at a future date. These bills can either be clean bil