demand Essay -- essays research papers

Firstly, I go forth deal with the factors which brush off affect the demand for houses in an economy.In many pots opinion, the single most most-valuable factor which affects demand for housing is pursuance rank. This belief is held because for most people, the cost of purchasing a house is so great that the only way they can afford to do so is to take out a mortgage from a bank or building society. One of the main conditions that banks and building societies gain to mortgages is that during the course of the mortgage, interest leave alone be paid on the loan. Although it is possible to absorb a fixed rate mortgage - where the rate of interest which go forth be paid is fixed at a constant level throughout the mortgage- most mortgages are variable rate mortgages, where the amount of interest which will be paid varies throughout the mortgage 1. By increasing interest rates, the government can control how much money people arouse in their pockets. The variance of interest rat e can be used to control much of the economy, including inflation. This is known as monetary fiscal policy. Interest rates have such a large affect on the economy because such a large percentage of the population has a mortgage and so is susceptible to interest rate rises. An increase in interest rates can greatly increase the amount of money that a household has to pay individually month. If people without a mortgage who are considering taking one out to cover the cost of a very expensive purchase see that interest rates are lavishly then they are likely to be wary of taking out a mortgage, as they know that they will have to pay a greater amount of extra money each month. Because people may be put off taking out mortgages, they will be unable to purchase a house, so this will cause demand for houses to fall. This is known as a slump in the housing market.Conversely, if people see that interest rates are low and they are considering the possibility of purchasing a house, they ma y decide to go ahead with their purchase callable to the fact that it will be more affordable- at least in the short run- due to the lower interest rates.Variable rates will in addition make mortgagors vulnerable to fluctuations in interest rates as even small changes in the interest rate can have a well-favoured effect on the outgoings of those with large mortgages. When rates rise steeply, one likely result is an increase in the number of mortgagors who cannot afford ... ... of their home being repossessed increases. If a large number of homes are being repossessed, people will be put-off purchasing a house. Also, people who are considering taking out a mortgage will be less likely to do so because they will be less able to afford it due to the fact that they are compensable more tax. Both of these effects are likely to cause a slump in the housing market.Conversely, if tax rates are low the kingdom of the housing market will improve due to the fact that people will feel tha t they are more able to afford the added cost of a mortgage. However, if they take out a mortgage at a time when tax rates are low, there is always the possibility that tax rates will increase at a later date.1The interest rate is narrow down by the lender, but it is usually in line with the rate set by the Bank Of England, which is turn is likely to respond to changes in the interest rates of the main world banks, most of which are in America.2This is because there is a large labour pool from which to draw replacement workers. However, there are exceptions to this rule, for example people in the professions like doctors and lawyers tend to have a high degree of job security at all times.

Corruption and Failure in F. Scott Fitzgerald’s The Great Gatsby :: Great Gatsby Essays

Corruption in The Great Gatsby The theme of human corruption, its sources and consequences, is a parkland concern among writers from Shakespeare through J.D Salinger. Some suggest that it attacks from outside, while others depict corruption occurring from within the individual. In the case if The Great Gatsby and its protagonists fate, Fitzgerald shows both factors at work. The moral humour of the Roaring Twenties, Daisy Fay Buchanans pernicious hold on him, and Jay Gatsbys own nature all contribute to his tragic demise. First, the loose morality of Dan Cody, Gatsbys unfortunate role model, and superficial raft who flock to Gatsbys parties contribute to Gatsbys downfall. Their examples encourages Gatsbys interpretation of The American Dream- his naive belief is that money and social standing are all that matter in his quest for Daisy. The egoistic debetants and their drunken escorts are among those who crash his extravagant soirees. As Nick Carroway tells us, People were not invited- they went there. (pg.40) Shallow, corrupt people like Jordan Baker gossip with reckless empty about their mysterious host. Their careless, superficial attitudes and wanton behavior represent Fitzgeralds depiction of the corrupt American Dream. Another force of corruption responsible for Gatsbys fate is his infantile fixation with a woman of Daisys nature. Determined to marry her after returning from the war, he is blind to her shallow, cowardly nature. He is unable to see the corruption which lies beyond her physiological beauty, charming manner and playful banter. That she is incapable of leaving her brutal husband, Tom, of committing herself to Gatsby despite his sacrifices escapes him. As Nick observes, Gatsbys expectation is absurdly simpleHe only wanted her to tell him Tom that she never loved him. (pg.91) Daisy is not worthy of the pedestal on which she is placed. Since she is hallow at the core, so is his dream which is based on a instruct flirtation, nothing more. Finally, Gatsbys own character-especially his willful obsession-contributes to his fate. Despite his naivet about Daisy and her friends who are rich and play polo together, he, too, has been seduced by the lure of money and fame. Unable to control his obsessive trust to have Daisy, he cares little about the

Grandma Essay -- Personal Narrative Profile

Shes modelting t here, a blown-out shell as hulking and vacant and lifeless as the enchanted castles of my beloved fairy-tale stories. The television cries for attention, but her eye refuse to acknowledge even its blatant wail. Behind tinted glass-is that smudged dirt or a protective coating?-eyes finally flutter open, the first sign of life. atomic number 18 they blank? Do they beg for help or scream of past and present pain? I cant say-I havent the courage to look.The world rotates around its axis three times an hour and I run with it. Soccer cleats, water bottle, there you go. Fine-Ill be there in an hour. Okay, groceries, post office, soccer practice . . . hmm . . . what do you expect for dinner? Family members dance around the kitchen in the ultimate test of agility to avoid tromping on anothers toes. Theres nothing to eatLove you-byeCome back here Pick that up right now A slap of the cupboard door, dashed kisses, and a sprint for keys-trip crash yell A mad cacophony-entirel y normal, unsettling, and near(a) Grandma sits there. She has not moved. The eye of the storm? Or merely forgotten by time? Dad and I walk away from it all sometimes, evacuant frustration in fruitless lament. Sometimes we laugh bitterly. Sometimes his words are a painful reminder of a happier and more carefree time. I just had to get out of the house. Usually I can take it-but tonight His stride slows in failure. I never wanted you to realize how polar she is. I tried-I hoped youd never recognize her illness. And pretending used to work. Im-Im sorry you have to see it now. She used to love to visit, you know, and you loved her back. I strain to remember woolly time and attitude.Grandmas here A rus... ...er a fairy godmother in a white and poofy dress waving a crystalline caper wand and truism the magic words as I am instantaneously granted love and patience and relief from guilt and dread.But there is no magic wand or sudden connection of love and understanding. There is no re solution of perfect peace. I stare at these words and am sort of startled, not by supreme happiness or tranquility, but by a resilient hope. The world does not end with this page. I will fag print and the world will go on, and I will continue to create my world. Happily ever after is unnecessary. Instead, maybe I will sit down next to her and simply speak. Tonight maybe I will kiss her cheek as she goes up to bed. Maybe I will wet-nurse her hand as she struggles up the stairs or joke with her, whether she understands or not. This is no end, and there doesnt yet need to be-Im still trying.

The Theme of Prejudice in To Kill a Mockingbird Essay -- To Kill a Moc

The Theme of Prejudice in To Kill a MockingbirdTo Kill a Mocking Bird teaches us closely the deceit and prejudiceamongst the residents of Maycomb County, all of whom have verycontrasting and conflicting views. We are told the story through theeyes of little girl, Scout, and the twenty-four hour period-to-day prejudices she facesamongst society. Her father, Atticus, is a blank man defending aNegro, even though the town frowns upon such a thing. He is trying tobring order to the socially segregating views, both inwardly the courtand out. The most common form of prejudice, which is seen many times throughoutthe novel, is racism. The white folk of Maycomb County feel they havea higher status in society than the black community, and that theNegroes are there simply to be controlled by the whites. The views ofa Negro do not matter they are worthless to a white person. They areseen as dirty and beneath a white. This is true even in extremecases such as the Ewells being compared to the b lack community. horizontalthough the Ewells are seen as low class, shabby and disliked, they arestill given a higher status than any Negro. You find out the sideof the Ewells quite early on in the book, after Scout meets theyoungest child of the family, Burris. Atticus tells Scout the Ewellshad been the disgrace of Maycomb for three generations. None of themhad done an honest days work. This statement from Atticus gives usanother form of prejudice class. By saying that they are a disgraceand have neer done a days work, degrades them and thus makes themsound lower class, which essentially they are. This topic is raised afew times in the book, but basically with the same view. The Ewellchildren however are treated... ...t the verdict will be guilty. Tom Robinsonhas been discriminated by a biased community, a community of Negrohaters. Tom is arrange guilty, even though the evidence given proves himto be innocent. Tom was never given a fair chance in the trial. Theguilty verdict i s the import of a racist community.As I have said, prejudice is a key factor in To Kill a Mockingbird.It sets storylines, gives people opposite opinions and makes peoplebiased towards different issues. It just shows how life was in the1930s, and the way that race, sex, class and religious prejudice haschanged over the years. People were scared to voice their opinions, terror-struck of what the community might say if they did. If this had beenchanged and people werent so biased that maybe that innocent manwould have lived, and people would not have been so discriminative toone another.

The Link Between Friendship and Moral Development Essay -- Teaching Ed

The Link Between Friendship and Moral DevelopmentThe study of honorableity is molded by an elaborately linked set of tangential issues each of which has a unique effect on moral cultivation. Friendship and peer groups in particular play an incontestable role in helping to shape the path of moral checkment in children and adolescents. In evaluating various philosophical and psychological perspectives on morality, two top dog arguments emerge concerning the link between friendship and moral development in the first argument, friendships act as a positive force in elevation moral development, as they provide a background upon which children can formulate their own moral rules and values. In direct contradiction, the second argument espouses friendship and morality as inherently antithetical, relying heavily on the idea that friendship encourages subjectiveness and impartiality. The potential negative influence of peer influence on moral development is perhaps most clearly manifes ted in the prevalence of aggression and violence in the lives of many children and adolescents. In studying the link between friendship and moral development, then, it is crucial to consider both the positive and negative consequences that peer relations can have on a childs struggle to develop his own individual sense of morality.The Definition of Friendship and its Relationship to Moral DevelopmentIn exploring the effects of friendship on moral development, particularly in children and adolescents, it is necessary first to establish the ways in which these phenomena are related. Traditionally, friendship and morality have been viewed as separate entities independent of one another consequently, on that point is little research pertaining to the specif... ... York Cambridge University Press, 1996.Cairns, Robert and Beverley. Lifelines and Risks Pathways of Youth in our Time.Cambridge Cambridge University Press, 1994.Eron, L., Gentry, J., & Schlegel, P. Reason to Hope A Psycholoso cial Perspective on Violence and Youth. Washington, D.C. American Psychological Association, 1994.Friedman, Marilyn. What Are Friends For? London Cornell University Press, 1993.Garbarino, James. mixed-up Boys. New York The Free Press, 1999.Henry, David B. Peer Groups, Families, and School Failure Among Urban Children Elements of Risk and Successful Interventions. Preventing School Failure, 443, 97-105.Piaget, Jean. The Moral Judgment of the Child. London Routledge & Kegan Paul, 1932.Pinderhughes, Howard. Race in the Hood Conflict and Violence Among UrbanYouth. Minneapolis University of Minnesota Press, 1997.

The Link Between Friendship and Moral Development Essay -- Teaching Ed

The Link Between Friendship and Moral DevelopmentThe study of ethical motive is molded by an in an elaborate way linked set of tangential issues each of which has a unique effect on righteous teaching. Friendship and peer groups in particular play an certain(p) role in helping to shape the path of moral spudment in children and adolescents. In evaluating various philosophical and psychological perspectives on morality, two pass arguments emerge concerning the link between friendship and moral development in the first argument, friendships act as a positive force in further moral development, as they provide a background upon which children can formulate their own moral rules and values. In direct contradiction, the second argument espouses friendship and morality as inherently antithetical, relying heavily on the idea that friendship encourages subjectiveness and impartiality. The potential negative influence of peer influence on moral development is perhaps most clearly manif ested in the prevalence of aggression and violence in the lives of many children and adolescents. In studying the link between friendship and moral development, then, it is crucial to consider both the positive and negative consequences that peer relations can have on a childs struggle to develop his own individual sense of morality.The Definition of Friendship and its Relationship to Moral DevelopmentIn exploring the effects of friendship on moral development, particularly in children and adolescents, it is necessary first to establish the ways in which these phenomena are related. Traditionally, friendship and morality have been viewed as separate entities independent of one another consequently, thither is little research pertaining to the specif... ... York Cambridge University Press, 1996.Cairns, Robert and Beverley. Lifelines and Risks Pathways of Youth in our Time.Cambridge Cambridge University Press, 1994.Eron, L., Gentry, J., & Schlegel, P. Reason to Hope A Psycholosocial Perspective on Violence and Youth. Washington, D.C. American Psychological Association, 1994.Friedman, Marilyn. What Are Friends For? London Cornell University Press, 1993.Garbarino, James. unconnected Boys. New York The Free Press, 1999.Henry, David B. Peer Groups, Families, and School Failure Among Urban Children Elements of Risk and Successful Interventions. Preventing School Failure, 443, 97-105.Piaget, Jean. The Moral Judgment of the Child. London Routledge & Kegan Paul, 1932.Pinderhughes, Howard. Race in the Hood Conflict and Violence Among UrbanYouth. Minneapolis University of Minnesota Press, 1997.

The Return: Nightfall Chapter 1

Damon Salvatore was lounging in midair, nominally supported by one branch of awho knew the names of points anyway? Who gave a damn? It was tall, it al pocket-sizeed him to peep into Caroline Forbess third-story bedroom, and it made a comfy backrest. He lay back in the convenient manoeuver fork, hands clasped together behind his channel, one neatly booted leg dangling over thirty feet of empty space. He was comfortable as a cat, eyes half-closed as he watched.He was waiting for the magic min of 444A.M . to arrive, when Caroline would perform her bizarre ritual. Hed already seen it twice and he was enthralled. thus he got a mosquito bite.Which was ridiculous because mosquitoes didnt prey on lamias. Their blood wasnt nutritious uniform human blood. But it certainly felt like a lilliputian mosquito bite on the back of his neck.He swiveled to see behind him, feeling the balmy summer night all al around him and saw nonhing.The needles of some conifer. zip flying around. Nothing crawling on them.All right then. It must fetch been a conifer needle. But it certainly did hurt. And the pain got worse with time, not better.A suicidal bee? Damon felt the back of his neck cargonfully. No venom sack, no stinger. Just a tiny squishy lump that hurt.A moment later his attention was called back to the window.He wasnt sure exactly what was going on but he could feel the sudden buzzing of part around the sleeping Caroline, like a mettlesome-tension wire. Several days ago, it had drawn him to this place, but oncehed arrived he couldnt seem to find the source.The clock ticked 440 and beeped an alarm. Caroline woke and swatted it across the room.Lucky girl, Damon thought, with wicked appreciation. If I were a rogue human instead of a vampire, then your virtue presuming youve any left might be in danger. Fortunately for you, I had to give up all that sort of thing nearly half a millennium ago.Damon flashed a grinning at vigor in particular, held it for a twentieth o f a second, and then turned it off, his black eyes going cold. He looked back into the open window.Yeshed constantly felt that his idiot younger brother Stefan didnt appreciate Caroline Forbes enough. There was no doubt that the girl was worth looking at farthestsighted, golden-br experience limbs, a full-fashioned body, and bronze-colored hair that fell around her face in waves. And then thither was her mind. Naturally skewed, vengeful, spiteful. Delicious. For instance, if he wasnt mistaken, she was working with little voodoo dolls on her desk in there.Terrific.Damon wish to see the creative arts at work.The alien Power still buzzed, and still he couldnt get a fix on it. Was it inside in thegirl ? Surely not.Caroline was hastily grabbing for what looked like a handful of silken green cobwebs. She stripped her T-shirt off and almost too fast for the vampire eye to see had herself dressed in lingerie that made her look like a jungle princess. She stared intently at her own re flection in a stand-alone full-length reverberate.Now, whatcan you be waiting for, little girl? Damon wondered.Well he might as well keep a low profile. There was a unconsolable flutter, one ebony feather fell to the ground, and then there was nothing but an exceptionally large crow academic session in the tree.Damon watched intently from one bright bird-eye as Caroline moved forward suddenly as if shed gotten an electric jolt, lips parted, her gaze on what seemed to be her own reflection.Then she smiled at it in greeting.Damon could pinpoint the source of Power now. It was inside the mirror. Not in the samedimension as the mirror, certainly, but contained inside it.Caroline was behaving oddly. She tossed back her prospicient bronze hair so that it fell in magnificent disarray down her back she wet her lips and smiled as if at a lover. When she spoke, Damon could hear her quite an clearly.Thank you. But youre late today.There was still no one but her in the bedroom, and Damon could hear no answer. But the lips of the Caroline in the mirror were not moving in synch with the real girls lips.Bravo he thought, always giveing to appreciate a new trick on humans. Well done, whoever you areLip-reading the mirror girls newss, he caught something aboutsorry . Andlovely .Damon cocked his head.Carolines reflection was saying, you donthave toafter today.The real Caroline answered huskily. But what if I cant fool them?And the reflection have help. Dont worry, rest easyOkay. And nobody will get, like,fatally hurt, right? I mean, were not talking about death forhumans .The reflection Why should we?Damon smiled inwardly. How many times had he heard exchanges likethat before? As a spider himself, he knew First you got your fly into the parlor then you reassured her and before she knew it, you could have anything from her, until you didntneed her any longer.And then his black eyes g be it was time for a new fly.Now Carolines hands were writhing in her lap. Just as lon g as you really you know. What you promised. You really mean it about loving me? reliance me. Ill take care of you and your enemies, too. Ive already begunSuddenly Caroline stretched, and it was a stretch that boys at Robert E. Lee High School would have paid to watch. Thats what I expect to see, she said. Im justso sick of hearing about Elena this, Stefan thatand now its going to start all over.Caroline broke off abruptly, as if someone had hung up on her on the phone and shed merely just realized it. For a moment her eyes narrowed and her lips thinned. Then, slowly, she relaxed. Her eyes remained on the mirror, and one hand lifted until it was resting lightly on her stomach. She stared at it and slowly her features seemed to soften, to melt into an expression of apprehension and anxiety.But Damon hadnt taken his eyes off the mirror for an instant. Normal mirror, normal mirror, normal mirror l era Just at the last moment, as Caroline turned away, a flash of red.Flames?Now, wha tcould be going on? he thought lazily, flicker as he transformed from a sleek crow back into a drop-dead gorgeous young man lounging in a high branch of the tree. Certainly the mirror-creature wasnt from around Fells Church. But it sounded as if it meant to make trouble for his brother, and a fragile, beautiful smile touched Damons lips for a second.There was nothing he loved more than to watch self-righteous, sanctimonious, Im-better-than-you-cos-I-dont-drink-human-blood Stefan get in trouble.The teenagers of Fells Church and some of the adults regarded the tale of Stefan Salvatore and their local beauty Elena Gilbert as a modern Romeo-and-Juliet story. She had inclined her life to save his when theyd both been captured by a maniac, and afterward he had died of a broken heart. There were even whispers that Stefan had been notquite humanbut something else. A deuce lover that Elena had died to redeem.Damon knew the truth. Stefan was dead all right but he had been dead for hundr eds of years. And it was true that he was a vampire, but calling him a demon was like calling Tinkerbell armed and dangerous.Meanwhile Caroline couldnt seem to stop talking to an empty room.Just you wait, she whispered, walking over to the piles of untidy papers and books that littered her desk.She rummaged through the papers until she found a miniature video camera that had a green light shining at her like a angiotensin converting enzyme unblinking eye. Delicately, she connected the camera to her computer and began typing a password.Damons eyesight was much better than a humans, and he could clearly see the tanned fingers with the long shining bronze nailsCFRULES . Caroline Forbes rules, he thought. Pitiful.Then she turned around, and Damon saw tears well up in her eyes. The next moment, unexpectedly, she was sobbing.She sat heavily on the bed, weeping and rocking herself back and forth, occasionally striking the mattress with a clenched fist. But mainly she just sobbed and sobbe d.Damon was startled. But then custom took over and he murmured, Caroline? Caroline, may I come in?What? Who? She looked around frantically.Its Damon. May I come in? he asked, his voice dripping with mock sympathy, simultaneously employ mind control on her.All vampires had such powers of control over mortals. How great the Power was depended on many things the vampires diet (human blood was by far the most potent), the strength of the victims will, the relationship between the vampire and the victim, the fluctuation of day and night and so many other things that even Damon didnt begin to understand. He only knew when he felt his own Power quicken, as it was quickening now.And Caroline was waiting.I can come in? he said in his most musical, most beguiling voice, at the same time crushing Carolines strong will under one much stronger.Yes, she answered, wiping her eyes promptly, apparently seeing nothing unusual in his entrance by a third-story window. Their eyes locked. Come in, Da mon.She had issued the necessary invitation for a vampire. With one graceful motion he swung himself over the sill. The internal of her room smelled like perfumes and not subtle ones. He felt really quite savage now it was surprising the way the bloodfever had come on so suddenly, so irresistibly. His upper canines had extended to about half again their size, and their edges were razor-sharp.This was no time for conversation, for loitering around as he usually did. For a gourmet, half the recreation was in the anticipation, sure, but right now he was inneed . He drew strongly on his Power to control the human brain and gave Caroline a dazzling smile.That was all it took.Caroline had been moving toward him now she stopped. Her lips, partly open to ask a question, remained parted and her pupils suddenly widened as if she were in a dark room, and then contracted and remained contracted.II she managed. OhhhThere. She was his. And so easily, too.His fangs were throbbing with a kind o f pleasurable pain, a tender soreness beckoning him to strike as quickly as the lunge of a cobra, to sink his teeth to the hilt in an artery. He was hungry no,starving and his whole body was burning with the urge to drink as deep as he liked. After all, there were others to choose from if he drained this vessel dry.Carefully, never taking his eyes from hers, he lifted Carolines head to bankrupt her throat, with the sweet pulse throbbing in its hollow. It filled all his senses the beating of her heart, the smell of the exotic blood just under the surface, dense and ripe and sweet. His head was spinning. Hed never been so excited, so eager So eager that it gave him pause. After all, one girl was as good as another, right? What was different about this time? What waswrong with him?And then he knew.Ill have my own mind back, thank you.Suddenly Damons intellect was icy cold the sensual aura in which hed been trap frozen over instantly. He dropped Carolines chin and stood very still.H ehad almost fallen under the influence of the thing that was exploitation Caroline. It had been trying to snare him into breaking his word to Elena.And again, he could just barely sense a whisk of red in the mirror.It was one of those creatures drawn to the nova of Power that Fells Church had become he knew that. It had been using him, spurring him on, trying to get him to drain Caroline dry. To take all her blood, to kill a human, something he hadnt done since meeting Elena.Why?Coldly furious, he centered himself, and then probed in all directions with his mind to find the parasite. It should still be here the mirror was only a portal for it to travel crushed outstrips. And it had been controlling him him, Damon Salvatore so it had to be very close indeed.Still, he could find nothing. That made him even angrier than before. Absently fingering the back of his neck, he sent a dark messageI will warn you once, and once only. Stay away from MEHe sent the thought out with a blast of Power that flashed like sheet lightning in his own senses. It ought to have knocked something dead nearby from the roof, from the air, from a branchmaybe even from next door. Fromsomewhere , a creature should have plummeted to the ground, and he should have been able to sense it.But although Damon could feel clouds darkening above him in response to his mood, and the wind rubbing branches together outside, there was no falling body, no attempt at dying retaliation.He could find nothing close enough to have entered his thoughts, and nothing at a distance could be that strong. Damon might amuse himself sometimes by pretending to be vain, but underneath he had a cool and logical ability to break down himself. He was strong. He knew that. As long as he kept himself well nourished and free of weakening sentiment, there were few creatures that could stand against him at least in this plane.Two were right here in Fells Church,a little mocking counterpoint in his mind said, but Damon shrugged that off disdainfully. Surely there could be no other vampire Elders nearby, or he would sense them. Ordinary vampires, yes, they were already flocking. But they were all too weak to enterhis mind.He was evenly certain there was no creature within range that could challenge him. He would have sensed it as he sensed the blazing ley lines of unearthly magical power that formed a nexus under Fells Church.He looked at Caroline again, still held motionless by the trance hed put on her. She would come out of it gradually, none the worse for the experience for whathed done to her, at least.He turned and, as gracefully as a panther, swung out of the window, onto the tree and then dropped easily thirty feet to the ground.

Gentlemen, Your Verdict

Colton Oct 17th Gentlemen, Your verdict In this story Gentlemen your verdict, the captain of a submarine, L-C Oram, is put in a difficult lieu which results in him sacrificing 14 of his men including himself, to save 5 men with families waiting for them back dental plate. Of course killing people is wrong, but if I, or anyone else, was put into a situation like L-C Oram was, then I think it would be okay to.. as bad as that sounds. In situations like these, I think thither are some exceptions to killing people.He wasnt trying to murder his crew for fun, he had good intentions He did it so that 5 men could go home to their families. He even sacrificed himself He was be generous and thinking about the wives and children on those 5 men. L-C Oram had no choice He was the captain, it was his duty to do the unspoilt thing. whatever that may be. He had no time to think, and there was no way he could save all the men in the submarine. He was even kind enough to make sure the crew died so mewhat peacefully with the poison.But, this short story doesnt make any sense at the end when the jury is asked So gentlemen, guilty or not guilty? Obviously he is guilty since he killed 14 other men and himself on top of that. I dont see why he is on trial in the first place, he is dead You cant send a dead body to jail. Oram acted in the moment, anyone else would do the same thing. At least he saved the men that he did. In my opinion, he was a true captain. Everyone makes mistakes, even if this was a big one. Im sure many others would agree with me that the only thing he is guilty of is being a true captain. A hero.

Individual Assignment Two Essay

The popularity of Southwestern Universitys football program under its crude coach, Bo Pitterno, surged in each of the 5 years since his arriver at the Stephenville, Texas, college. With a football stadium close to maxing out at 54,000 seats and a vocal coach pushing for a new stadium, SWU prexy Joel Wisner faced some difficult decisions. After a phenomenal upset victory over its archrival, the University of Texas, at the homecoming game in the fall, Dr. Wisner was not as happy as one would think. Instead of ecstatic alumni, students, and faculty, all Wisner heard were complaints. The lines at the concession stands were too long Parking was harder to find and farther away(predicate) than in the old days (that is, before the team won regularly) Seats werent comfort able-bodied Traffic was backed up halfway to Dallas and on and on. A college president just evoket win, muttered Wisner to himself.At his staff meeting the following Monday, Wisner turned to his VP of administration, Le slie Gardner. I wish you would take care of these football complaints, Leslie, he said. See what the real problems are and let me know how youve resolved them. Gardner wasnt surprised at the request. Ive already got a handle on it, Joel, she replied. Weve been randomly surveying 50 fans per game for the past year to see whats on their minds. Its all part of my campus-wide TQM effort. Let me tally things up and Ill get back to you in a week. When she returned to her office, Gardner pulled out the file her assistant had compiled (see the following table). Theres a lot of knowledge here, she thought. Questions1. Using at least two different quality tools, analyze the data and present your conclusions.2.How could the survey have been more useful?3.What is the near step?Fan Satisfaction Survey Results (N = 250)Rochester Manufacturing Corporation (RMC) is considering woful some of its production from traditionally numerally control machines to a flexible machining system (FMS). Its nu merical control machines have been operating in a high variety, low volume intermittent manner. Machine utilization, as near as it can be determine, is about 10%. The machine tool sales persons and a consulting blind drunk want to put the machines together in a FMS. They believe that a $3,000,000.00 using up on machinery and the transfer machines bequeath handle about 30% of RMCs work. There will, of course, be a transition and start up cost in addition to this.The firm has not yet entered all its parts into a comprehensive group technology system, but believes that the 30% is a good compute of products suitable for the FMS. This 30% should fit precise nicely a family. A reduction, because of higher utilization, should take place in the number of pieces of machinery. The firm should be able to go from 15 to about 4 machines, and personnel should go from 15 to perhaps as low as 3. Similarly, floor space reduction will go from 20,000 square feet to about 6,000. Throughput of orde r should also improve with this family of parts being processed in 1 to 2 days rather than 7 to 10 days. Inventory reduction is estimated to yield a one-time $750,000 savings and annual labor savings should be in the neighborhood of $300,000.00. Although the projections all look very positive, an analysis of the projects return on investment showed it to be between 10% and 15% per year. The company has traditionally had an expectation that projects should yield comfortably over 15% and have payback periods of substantially less than 5 years. Questions1.As the production double-decker for RMC, what would u recommend? And why?2.Prepare a case by a conservative plant manager for maintaining the status quo until the returns are more obvious3.Prepare the case for an optimistic sales manager that you should move ahead with the FMS now.ACM is an electronics component manufacturer that has been located in capital of Singapore since 1991, supplying original equipment manufacturers (OEMs) w ith quality components. In the past several years, ACM has experienced augment pressure from otherwise manufacturers located in other countries. In Singapore, while labor remains quite inexpensive, there has been a relatively steady increase in labor cost. In addition, utility be most notably water and energy costs have led the firm to contemplate moving operations elsewhere in Asia in an attempt to make the firm more competitive. ACM remains profitable, but margins have shrunk, and management is interested in ensuring that the firm remains competitive in the medium term to long term against other component manufacturers.A team of senior management has formed a committee to reach a decision regarding possible relocation. The committee has identified two additional locations as possible candidates for relocation Hong Kong (Peoples Republic of china PRC) and Kuching (Malaysia). Hong Kongs main attractions stem from the fact that since 1997, when its sovereignty was transferred b ack to the PRC, labor costs have decreased as access to labor has increased. Hong Kong enjoys a queen-sized seaport and very good transportation infrastructure, and this is important in moving in raw materials and moving out finished componentsto customers. Senior management believes that an increase number of OEMs will move to the PRC in the next several years, as has been the case in the past decade. This will only increase the draw of locating the manufacturing facility in Hong Kong.Kuching is located in the Malaysian province of Sarawak, on the island of Borneo. It is the fourth-largest city in Malaysia and home to a population of around 650,000. some(prenominal) points make Kuching attractive to the relocation committee. First, locating here would give access to natural resources and other production inputs. Second, the transportation infrastructure is good, and the city hosts a late sea port for moving raw materials in and finished good out. That said, the port is not as l arge or accessible as those of Hong Kong or Singapore, and several committee members have expressed concern about the frequency of ship visits to Kuching. If the port does not receive regular service from container ships, transportation costs to ship components to OEMs will doubtlessly stable and inexpensive in Malaysia.The committee has contracted the government of Singapore to elicit possible incentives to not relocate to another country. Singapore is offering a five-year exemption on taxes for ACM if the plant remains in Singapore. The government will also assist by partially subsidizing labor, water, and energy costs for five years. Committee members realize that the Singapore plant, which has been operating for years, has already been amortized, and opening a new plant would require additional capital costs. That said, opening a new factory would also provide an opportunity to upgrade production equipment to more productive and energy-efficient alternatives. Questions1.What adv antages and disadvantages does each potential location offer?2.What other applicable factors that are not mentioned in this case study might play a role in this decision?3.Why is transportation infrastructure so important in this decision?4.This is a long-term, strategic decision what factors might change in the next 10 to 20 years? How will this work out the decision?5.Which alternative would you recommend, under which circumstances?Henry Coupe, the manager of a metropolitan branch office of the state department of motor vehicles, attempted to carry out an analysis of the drivers license renewal operations. Several travel were to be performed in the process. After examining the license renewal process, he identified the steps and associated times required to perform each step as shown in the following table.State Automobile License Renewals Process TimesStep1. palingenesis renewal application for correctness2. Process and record payment3. Check file for violations and restrict ions4. Conduct eye test5. Photograph applicant6. Issue makeshift licenseAverage Time to Perform ( heartbeats)153060402030Coupe found that each step was assign to a different person. Each application was a separate process in the sequence shown below. Coupe determined that his office should be prepared to accommodate the maximum rent of processing 120 renewal applicants per hour.He observed that the work was unevenly divided among the clerks, and the clerk who was responsible for checking violations tended to shortcut her task to keep up with the other clerks. Long lines built up during the maximum demand periods. Coupe also found that the Steps 1 to 4 were handled by general clerks who were each paid $12 per hour. Step 5 was performed by a photographer paid $16 per hour. (Branch offices were charged $10 per hour for each camera to perform photography.) Step 6, exit temporary licenses, was required by state policy to be handled by uniformed motor vehicle officers. Officers were p aid $18 per hour, but could be assigned to any job except photography.A review of the jobs indicated that Step 1, reviewing the application for correctness, had to be performed before any other step could be taken. Similarly, Step 6, result temporary licenses, could not be performed until all the other steps were completed. Henry Coupe was under severe pressure to increase productivity and reduce costs, but he was also told by the regional director of the Department of Motor Vehicles that he had better accommodate the demand for renewals. Otherwise heads would roll. Questions1.What is the maximum number of applications per hour that can be handled by the present configuration of the process?2.How many applications can be processed per hour if a second clerk is added to check for violations?3.If the second clerk could be added anywhere (and not necessarily to check for violations, as in (2)), what is the maximum number of application the process can handle? What is the new configura tion?4.How would you suggest modifying the process in order to accommodate 120 applications per hour? What is the cost per application of this new configuration?

HR Strategic aspects of the labour market and Managing organisational performance Essay

The economic take downts occurring during the last two decades provide indications and evidences that the discipline of adult male resourcing has significantly changed in response to the emerging tortuousities of the discipline. Perhaps, among the chief(a) components of corporate governing, the dynamics of human resourcing appear to be the most challenging as well as complex. Experts in the area of Human Resource heed (HRM) invariably agree that the surging demand for a novel organizational role for the human capital.Even the usually commonalty terminologies used to describe the HRM processes, such(prenominal) as labor contracting, training and development, capital punishment evaluation, have been recycled to outsourcing, learning and maturement or cognitive operation management bodys. Many even replaced, such as personnel to human resource to human capital, to describe in to a greater extent sophisticated way, the invigorated character of human resourcing. Still, HRM p ractitioners are of the reliance that changes will continue to pervade the HR area and whitethorn soon take or evolve into new competencies again.Torringtons Views The HRM discipline and the Labour grocery Torrington presents the burgeoning labour issues confronting many organizations as propounded by theorists and practitioners. Indeed, the complexities of human resourcing are invariably revealed in the documented HR practices compiled by the pen, who has been keenly observing that the area of human resource management is beginning to undergo a form of transformative process where the task s, positions and the organization virtually mutates into its more sophisticated form.Based on selective information provided by the author and taken from a report, at that place is a general shortage of doers especially the young sector. In the area of healthcare, the National Health benefit (NHS) is spending ? 1bn annually on temporary, agency and locum mental faculty. According to Laing and Buisson, well known heathcare analysts, the demand for agency staff is expected to increase across creation and private healthcare sector in response to the long-standing manpower shortages in practically every healthcare occupation.The author adds that the size of the market for manpower has move by more than four times during the two decades commencing from 1992. Even the NHS had to triple their budget expenditures during the same period. Torrington estimates this sector is worth ? 2. 4bn in the market. However, the core of the problem has shifted to the character reference of care that many temporary staff provide, thus the decision to reduce manpower outsourcing, Here, the need to get better deals from agencies is becoming paramount as new alternatives of human resourcing in this sector is being compensateed.The author concludes by proposing an appropriate response system through flexible staffing solutions. Torrington highlights the strategic aspects of resourcing to re spond effectively to the comminuted messages demanded and manifested by the labor market trends. Here, he analyzes the need to adopt certain flexible resourcing choices that will focus attention either to the ready-made or pedestal grown human capital. The labor market trends bespeak of the dilemma faced by the human resourcing industry in general.A number of recommendations are provided to address this set of HR issues the retention strategy. The retention indicators point to a disturbing trend at the charts. The issue of retention and its corresponding techniques and strategies has been brought into the open as a result of the need to assuage the cost of transfers, job and even career shifts. The author brings the issue of turnover rates and trends as indicative of HR derangement in many sectors while exacting some forms of costs on the organization as a result of new rounds of resourcing and the need to adopt staff retention strategies.Torrington insists that organization str ategies versus HR strategy issues not only should be HR-driven but primarily must mutually provide a perfect fit. The author discloses the strategic aspects of instruction execution how these are driven by HR policies and processes as practiced. This is implied to mean that a change in perspective be made in the human resourcing function from taking control of the employment processes to a more significant HR function of managing performance.True enough, this shift in focus may have been long wanted to smoothen human capital transitions to work excellence. This further suggests that efforts are better spent on ensuring that performance management becomes the primary driver of the HR function. A number of firms have found better insights into this form of HR shift considering that the new HR performance processes adds relevance and more meaningful roles for HR theorists and practitioners rather than just the documentary and aspect legalese of human resourcing.The author proposes the adoption of a performance management system that translates into organizational performance anchored on the knowledge and learning processes as HR initiatives. Here, the proactive roles expected of the HR practitioners are deemed directed towards gradually converting the company into a learning organization where the human capital competencies are planned, managed and nurtured. Performance management system so is a critical need as with the 360 compass point feedback system.Conclusion Torrington proposes a two-dimensional performance idea system based on individual and team perspectives. He emphasizes management of employee performance guided towards organizational and personal goals and objectives and an objective appraisal system to measure extent of accomplishment based on target setting. A sequential and step-by-step approach is propounded with a component critique system based on an overarching 260 degree feedback system.A comparison and contrasting view of performance man agement system (PMS) and its environment of procedures indicate that the PMS has and is being wide used in organizations out to harness the potentials of its people. The degree of effectiveness indicates the variability of conceptualization and implementation, but nonetheless removes the study irritants in people management that last affect the relationship as well as the performance dimensions of each of the component of the human capital sponsored primarily by senior management.Thus, the proactive personality of the PMS approach entitles it to wider adoption and desirability among organizations aiming to address many of its human resourcing issues. Subject 2 Performance Management System Linking Organizational Goals Torrington outlines the essential factors in managing organisational performance showing how a Performance Management System (PMS)links to organisational goals.Concrete and summary benefits and disincentives are identified and benchmarked with industry practices gu ided by the universal principles and theories of performance management. As practiced, performance management systems commence from the goal and target setting based on the requirements of the job. Here, employees and workers are clarified in the objectives of their positions, the requisite competence, and the learning and growth perspectives if the job as well as the compensation based on how the organization assesses the relative important of the task.The use of the PMS has been tested widely and has prove to be more effective than the traditional evaluation system. This is because of the inclusion of a compendium of measures that ensures that organizational goals are aligned with the specific tasks assigned to the employee. From the targets, agreements on the degree and how these targets are achieved under quality processes are laid down and the PMS target setting contract is accomplished.Thus, the use of the PMS allows the following benefits to accrued to twain the worker and the organization among others, expectations are clear and scope and limitations of the jobs are understood by both sectors employees can clearly predict and manage their own levels of performance based on targets as well as the needed support to accomplish the tasks on that point is an objective system of evaluation and appraisal that removes subjectivity and abstract judgments when provided with an incentive and reward systems, PMS becomes effective as a tool and basis of rewards and incentives and, there is a better working relationship between the worker and his superior based on earlier agreements and covenants.Likewise, PMS considers possible constraints and limitations on both sides, thus alternative measures are agreed for the degree of performance resulting from the occurrences of such constraints and impediments. For the organization, the benefits are clear in terms of stronger motivation on the worker budgeting can be integrated into the system through measurable and appr opriate creative and rewards system the subsequent appraisal and evaluation system allows for an ideal atmosphere for the discussion of the evaluation and appraisal results to encourage future performance based on areas that additionally needed reinforcement and support. In addition, PMS encourages both individuals and teams to be evaluated based on targets that are aligned with the organizational goals.On the other hand, the disadvantages of adopting a Performance Management System (PMS) includes the requirement for a more detailed procedures and measurement system that may prove to be too elaborate and complex for the worker to understand and appreciate. Likewise, the process of documentation in support of the performance is considered difficult and tedious. Further there is no assurance that performance can indeed by achieved as there may be unforeseen circumstances not considered during the target setting completed before the start of the performance period. (Noe, Hollenbeck, G erhart, & Wright, 2008) Nonetheless, there is a need to study the organizational culture on whether the latter would help the system or otherwise. ConclusionTaking into account the benefits and disadvantages of Performance Management Systems (PMS), the absence of a more measurable, objective and comprehensive system of measuring and evaluating performance is non-existence despite the presence and utilization of good measuring tools and instruments. This is the complexity of the new HResourcing strategy that allows greater flexibility and uniqueness in the approach to managing performance. On the overall, the rationale for adopting PMS far outweighs the need to ignore the benefits provided by this new system. Often, the major constraint in adopting PMS is whether the organizational culture would allow such a change in the system. Thus, the efforts may indeed be tedious, but nonetheless, there is strong desirability in the system that will be more advantageous to every stakeholder in the PMS environment system.

Safety and Protection Services

In the process of creating a shelter agreement, the first essential task which we should be able to undertake is to differentiate what are those locations as well as specific conditions which the shelter department would be addressed through public good those that would be provided by the local anaesthetic government as well as the guarantor issues that would be addressed by private enterprise.Such a differentiation would allow for us to make specific boundaries and avoid aegis coverage overlaps between those which would be provided by the government and that was what shall be covered by the local agencies which the confederation would hire. The intellectual why we would like to avoid overlaps in outlining the report and specify which issues are addressed by one group and which ones are addressed by another(prenominal) is that it would not only avoid regulatory and conflict of interest overlaps but in addition the cost efficient as well.We must remember that especially for a public good provisions such as security of the association which the government would be providing for the firm, then they suck up a limited budget in order to do this. Also, the security of the company with respect to the private enterprise which shall be addressed by our firm should also be cost efficient. youthful literature reflecting the be of private security reflected that they are consistently increasing over the years. We would not want to have overlapping costs that would further piddle an inefficiency condition for the company (Commission & Toulson, 2004).In the discussion of who would be concerned providing security, in that respect are two units and agencies which we should address. These agencies, however, are only the first step in learning dissemination and coordination of security for the firm. These two are the local government units that would be providing security, as well as the security agencies as well as the security staff of the company. They ar e the two essential units where large focus must be given in drafting a security agreement.However, in that location also has to be circulating information across both the staff of the company and the government units so that they too may be informed of the further security issues that have to be addressed. The reason for this is that especially in a sensitive matters such as private protection especially if our company has high in assets, may they be tangible or intangible there is the constant danger of misinformation and might lead to further problems in the future if those which are in full even in the smallest sense are misinformed.The basic primary service that we would like the safety and security services of the law enforcement department of the local government units to perform are those that involve security coverage from the immediate surroundings of the companies location . However what we must remember is that local government agencies in policing already have the province of protecting the surroundings of such public locations. With the security draft must focus on, however, is the schedule time frames or in areas highly sensitive information that are stored within the perimeter of the company.This may be done through interaction with local government units involving security and policing with the several(prenominal) security agencies and departments of our company. Relevant research reflects higher risk security frameworks especially in institutions that have data assets which would be essential for the success of competition. In discussing security concerns between the company and the policing agencies, the focus must not only be two immediate security and physical assets but also in data security as well this would be discussed later on and further reports (Stamp, 2005).Another probable help the local law enforcement agencies may give to the company is a fast response policy in the case that incidents are reported by the security depa rtments of the firm. This is usually already done in major(ip) metropolitan areas although there are times when specific overlaps in misinformation cause for various(a) security holes exist. What the draft and suggestion must identify are the exemplar operating procedures for local government security in the case that they are required in an emergency or otherwise by the security departments of the company.Although it may not be explicitly stated by the government, the agreement, and company, there also probable ways are there to be better security accommodate for such local policing units by giving preferential protection and security response times even dedicated response servers and direct lines to the security departments of the company. What we as business analysts would like to compare it to is an indirect method of outsourcing security but only in specific locations in specific instances so that the costs of the hiring supererogatory security in-house would be less th an those from the outsourced perspective (Commission & Toulson, 2004).Of course, however, did not reply completely on the security that is provided by local policing agencies. Also, even given the fact that there is a ready and in-house security department at the company, having the ability to tap the resources from outside security units such as those that are provided by the government does not necessarily mean that local security could slack off and relax.In fact, outsourcing and removing in-house the total security method of the company should logically make the companys own security department more vigilant because of the scattered holes and overlaps that an outside security unit with prose. The primary safety and security services that would be performed in-house are those which first, covered a specific geographic insight location of the company. It would be a greater security risk if outside security units that are provided by the government are allowed to roam freely within the premises of the firm.Although it may in fact decrease costs with relation to the amount that are paid to in-house security services, it nonetheless significantly increases risk of outside infiltration of the firm because of the lack of checks, balances, and specific operational controls when making use of outside security in securing the inside of the structures. Therefore, in the draft, we should be able to indicate that outside security units which are provided by the government may only enter the premises upon request for additional help in-house security units.Also, because it is completely logical that it is the security department of the company which knows the sensitivity of assets within the firm, as well as the day-to-day security concerns of the company, it is they who have the responsibility of training and informing the outside security resources which would be provided by the government in understanding the way the company works to tighten and cover the various se curity holes that may be found.In the draft, it is recommended that more responsibilities are placed on in-house security units because of the expected approval of such agreement the less costs that are crude by the government for security of the company, the more likely it is that the mayor would prove such an agreement. However, we must also make sure that the benefits that the company which received with respect to the efficiency would be experienced by the in-house security Department would be just equal to the benefits that would be taken by the local government units for security (Wyman, 1999).Lastly, the draft should include what are the specific responsibilities that would be done jointly by the local policing agency and the in-house security department of the company. In this respect, the responsibilities included should cover those involving the safety and security of local employees and keeping resources. Unlike tangible assets and data, human resources and employees of the company are allowed to move around.As a result, there is no specific covert locations that could be wisely allocated either to in-house security or to policing agencies. Therefore, it would eventually be the responsibility of the two units to cover the safety and security of employees. However, it is the local policing agency which is largely responsible for the outside safety of employees, while the responsibility of the in-house security of the company would be to make sure that only employees have access to the companys premises as well as the assets that are assigned to employee use.These are the conditions and important factors that should be included in the draft to be write that would be submitted to the mayor of the city. Although there are still other specific minor issues that have not been addressed, these, at least, are the general frameworks that must be followed in drawing an agreement between the two security units and departments.

Is “Mass Marketing” Dead? Essay

Ans Mass marketing is the concept that consumers will favour products that are operational and highly affordable. Now a days , Product variety and target marketing originated from the mass marketing based on organizational resources and sound fiscal position to capture whole market. Critics demonstrated that Customers change their need , want and demand based on changing taste overtime. Marketers also change their system to strive sure more and more create customer value done those marketing attitude. Mass marketing is still useful philosophy in two types of following situation 1. At the first that demand of the product exceeds thesupply. In this context , management freighter increase production. 2. Secondly, product cost is also high. At that stage , improvement production is needed to bring it down. To control the whole market with goodly and efficiently , marketers should certitude resources and finacnce. Thus , therefore, management can make a decision whether they may fo llow mass marketing or non. Finally, mass marketing may actively follow or not based on companies overall position.I believe that mass marketing is dead theoretically. In practically, by measuring mass marketing weight with oither concept, we should grant that mass marketing is even not come very close to dead. 2. Mass marketing is still workable way to build a moneymaking brand? Ans Mass marketing is the top most one viable way to build a profitable brand. But, achieving accompany goal through its strategy, company needs resources so that company can create , communicate and delivery to consumer to market with effectively and efficiently. In this context, larger company can make sure profit through this marketing procedure . On the other hand , no make sure profit by smaller company by using product variety or target marketing concept. Product variety and target marketing depends on segmentation level with its effective segmentation.Critics sometimes demonstrated that to make t he company object, it has to match with capable and efficient resource. Depends on companies resource capability, company may decide whether mass marketing would be viable or product variety or target marketing concept would be viable. Finally, we can say that mass marketing is still viable way to build a profitable brand .

Do we have a defensible account of what is to be a person?

To support the assertion that a person exists as a person in their individual unique position and that, they do not, cannot and can neer occupy the space and position of another person must be proven using unchallengeable, unquestionable or unchanging evidence. Before we begin respondent this question, we must first of all establish who and what a person is i.e. what ar the basic and universal characteristics of a person?Where does the definition of a person begins and ends along the continuum that is occupied by all species they could be hominoids monkeys, baboons, apes, chimps, or non-person species etc. When does a person cease being a person to become a non-person? Is this a reversible process if so, why? If not, why?According to Wiktionary a person is a hu objet dart being, then a kind being is defined as man, the characteristics of man argon identified from the later human being being signifies existence, human means belonging to the species of Homo sapiens some of the characteristic that would be associated to this is energy to express, feel, all humankind characteristics like being weak or fallible. Where then do we find the person in the human being is it the physical embody of an individual being?Aristotle says man is a logical word using animal and a featherless two footed animal. These however, are not the just differences.A lot of other animals share these characteristics for instance insects and apes though remotely but it emerges that people are distinctly quite distinctive, befitting account of what it is to be a person could give the core of this distinction hence illustrating why certain characteristics are important and the others but incidental John Haugeland Nos, Vol. 16, No. 1, 1982.We are told, that modern philosophers and Christians interpreted Aristotles logical as rational thus proposing this rationality as our principle differentia, therefore Descartes maintains that people can talk because they author and he could have st ated the same on other characteristics.Contrary to other animals humans have a highly developed brain with an ability to intellectual abstractly, use words and examining thoughts, it is due to this mental capacity together with their body structure that allows their upper limbs to make more use of tools than other animals. Human beings are genial by nature a characteristic of most primates nevertheless they are more skillful in using systems of communication for self-expression, interaction, convert of ideas and planning.Man has put in place social structures made of competing and cooperating groups such structures are, families marked by blood relations and other relations, nations originating from geographical boundaries, social groups and so on.These interactions amid humans have put in place a wide variety of traditions, rituals, ethics values laws and social norms which are the foundation of a human society. Man has a clearly noticeable recognition for beauty and tastefulne ss which is compounded by the human desire for self-expression has given rise to cultural inventions and innovations such as art, literature and music.Humans are distinct for their desire to understand and influence the world around them, man seeks to explain and manage natural occurrences by science, mythology, philosophy and religion, this curiosity in man has led to development of tools and skills, this may be one of the most significant characteristic of human beings. It is by these characteristicsAnatomical structures, mental abilities, social responsibility, cultural norms, conscious and unconscious will and freedom of choice, innovativeness that we define a person. This may be the basic and universal characteristics of a person.

Final Project of Fin619

pic Pass Dear Student you ar decl ard PASS in your written work. Start preparing for presentation & viva voce and improve your work correspond to the given instructions and guidelines avail equal at VULMS of your way of life under the icon DOWNLOADS after clicking COURSE WEBSITE at VULMS. Also read lesson 7 of this course in this for effective prepaproportionn of your presentation slides. For any course related query and information, you can contact us via MDB, Email (emailprotected edu. pk) and telephone (92 (42) 111 880 880 (Extension 8851 or 3941). RATIO compendium OFASKARI BANK, UNITED BANK AND BANK ALFALAH FOR THE YEARS 2009, 2010, 2011 A PROPOSAL FOR REPORT TO BE SUBMITTED TO THE DEPARTMENT OF charge SCIENCES, VIRTUAL UNIVERSITY OF PAKISTAN IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER IN BUSINESS ADMINISTRATION (MBA-Exec) Submitted By AAMIR SHAHZAD MC snow403644 MBA-Exec (Finance) SUBMISSION DATE 02-02-2013 Virtual University of Pakistan Letter of Un dertaking Job confirmation letter pic Dedication I would like to dedicate this project to My pargonnts My Wife & My Kids Ashar Ali & Mubashar Ali AcknowledgementAll my efforts for my MBA and this Project would have got been nonhing with out the help and floor of Almighty Allah and I am always Gratified to Blessings of Allah. More than anybody else, I would like to acknowledge my uncle Mr. Ashfaq Ali Tabassam for his neer ending support. He always guided me whenever I felt stuck off and his encouragement always worked as moral booster for me. I would like to extend my special thanks to my friend Mr. Aamir who advised me conviction to time and provided me technical assistance. I am extravagantlyly indebted to my boss in my organization Mr.Muzaffar Ali who spared me and gave me commodious time, out of my professional commitments, to go all out for my MBA from Virtual University of Pakistan. Executive Summary The purpose of this root titled RATIO ANALYSIS OF ASKARI BANK, UNITED BANK AND BANK ALFALAH FOR THE YEARS 2009, 2010, 2011is to investigate the financial transaction of these patoiss during the mentioned period. The first chapter of this report deals with introduction of project and cashboxs under study, financial period under friendliness, objectives and significance of the project. The aid part is about data processing and analysis.The fourth chapter is about calculation of different balances its similarity and interpretation. In last chapter conclusions and recommendations have been given. The data for the study is collected from financial repots of the hopes which are available on theirs single websites. The financial reports included the balance sheet, income statement and money issue statements. As regards to finding of study, the bring in service Margin symmetry of Askari and bank building Alfalah is low as compare to UBL. UBL is as thoroughly on top in gross send symmetry, amends on uprightness, debt dimension and proc ession/Deposit ratio. maculation Askari coast has better money commingle ratio and Price/Earning ratio. It is recommended for coast Alfalah and Askari bank to cut megabucks their non markup expenses to improve their illuminate pull in Margin proportionality while, on the different hand their turn over is satisfactory. UBL and Alfalah should decr hush their current liabilities and ensure the availableness of much liquidity to meet curt term debts. Askari bank and bank Alfalah some(prenominal) banks posit to espouse measures to cut down their post expenses in vagabond to growth their gross spread ratio.In order to enlarge non rice beer income Askari and Alfalah needs to increase their earnings through fees, commissions and opposite(a) advisory charges etc. In Advance/Deposit ratio Askari bank and Alfalah should have to utilize their deposits in more projects either through unified financing or general existence financing. Table of Contents Section I Chapter 18 1. 1 Introduction of the project 1. 2 avers Introduction 1. 4 Period Under Consideration 1. 5 Objectives 1. 6 substance Chapter 2. 11 2. 1 info Collection 2. 2 Data touch on and Analysis Chapter 3. 12 3. 1 mesh Profit Margin 3. 2 Operating cash flow ratio 3. 3 Gross Spread ratio 3. 4 Non- interest group income to total income ratio 3. 5 Spread ratio 3. 6 Advances/deposit ratio 3. 7 Return on total equity (ROE) 3. 8 Debt ratio 3. 9 Debt/ beauteousness ratio 3. 10 Price/Earning ratio Chapter 4. . 26 4. 1 Conclusions 4. 2 Recommendations Section I a) Student Introduction 29 b) Bibliography 30 Section IChapter 1 1. Project Introduction The financial ratio analysis techniques referred to in this aid could be useful to canvas any company financial performance. This study is likewise going to investigate the financial performance of trinity mentioned banks e. g. Askari bank, united bank and savings bank Alfalah. These banks are surveying in the Pakistani groc ery and are competitors all(prenominal) another(prenominal). accordingly this study is going to find out which bank has strong financial seat over other deuce banks. With the help of financial ratio analysis we can analyze the financial position of any company.Many stakeholders, investors, creditors whitethorn analyze any company, firms financial position with the help of ratio analysis ahead taking any important decision regarding to investment golds or any other. Therefore financial ratio is a mathematical correlation among several bods often stated in the form of percentage, measure, or days. 1. 2 Banks Introduction Askari Bank was incorporated in Pakistan on October 9, 1991, as a ordinary limited company. It commenced cognitive operation on April 1, 1992, and is principally engaged in the product line of banking, as defined in the Banking Companies Ordinance, 1962.The Bank is listed on Karachi, Lahore and Islamabad Stock Exchanges. Since inception, the bank has concen trated on growth through improving service quality, investment in technology and people, utilizing its extensive runner ne twork which includes Islamic and Agricultural banking. United Bank trammel (UBL) was incorporated in Pakistan on November 7th 1959. In 1963 the bank opened its first overseas branch in London, United Kingdom. In 1971 the UBL was nationalized by the Government. In 2002, the Government of Pakistan sold it in an open sell to a consortium of Abu Dhabi Group and Bestway.Currently UBL is one of the largest commercial banks in Pakistan having more than 1,220 online branches inside the country. Its 15 branches exterior the country are in the United States of America, Qatar, UAE, Bahrain, and Republic of Yemen. It also has representative offices in Tehran (Iran), and Almaty (Kazakhstan). It owns subsidiaries in the UK (United National Bank extra), and in Zurich (Switzerland). Bank Alfalah special was incorporated on June 21st, 1992 as a public limited company under the Companies Ordinance 1984. Its banking operations commenced from 1st Nov, 1997.The Bank is currently operating through various branches in Pakistan, Bahrain, Bangladesh & Afghanistan, with the registered office at B. A. Building, I. I. Chundrigar, Karachi. Streng then(prenominal)ed with the banking of the Abu Dhabi Group and driven by the strategic goals case-hardened out by its board of management, the Bank has invested in revolutionary technology to have an extensive hold of products and services. During the past five categorys, Bank Alfalah has emerged as one of the foremost financial institution in the function endeavoring to meet the needs of tomorrow today. 3. Financial Period Under-Consideration for AnalysisFinancial period under consideration for analysis (2009, 2010, 2011) 4. Objectives 1. To analyze the selected banks efficiency in managing their resource for generating shekels 2. To composition of enceinte structure of the selected banks, how a lot of the banks assets are financed through external and internal debt. 3. To find out that how effectively selected banks are maximizing their profit by exacting their interest expenses. 4. To compare the selected banks interest income with their interest expenses. 5. Are banks able to pay the current liabilities from their cash equivalents? . importation The significance of these projects whitethorn include the following 1. The finding of this enquiry will be more beneficial for investors, creditors, to take good decision after seeing the guide of ratio. They can easily analyze the bank position through this study result. Bank Management may also study the finding of this study to determine the success or failure of particular sales, market as well as financing strategies. 2. At the end of this research, we will be able to lay down which bank is more able to pay its current liabilities from their cash equivalents. 3.The major outcomes of this research, this study will pass away the concept regarding to financial ratio analysis in banking sector by applying different ratios. 4. This research may help the stakeholders to analyze financial ratios result before taking any serious decisions. 5. Financial mangers of selected banks also take advantages from this study to identify their bank strengths and weakness and will improve their poor areas. Chapter 2) Data treat & Analysis 1. Data Collection Sources Study has used three banks annual reports/balance sheet, income statements, cash flow statements for data analysis and data processing.In research only secondary would be used to access the objectives which are mentioned as supra. The study has used secondary sources to access the objectives of this research. The sources of this research were three banks websites. Annual reports were collected from the websites 2. Data Processing and Analysis Tools Data was processed, analyzed and all the entry has done on excel sheet. Hence Study has used Excel sheet for data analysis a nd for calculation purpose. Result has been displayed on MS world in tabulation form with interpretation. Chapter 3) Data Analysis ratio Analysis 1 Net Profit Margin SignificanceNet profit margin ratio explicit the profitability of the institution against the revenue. It will also define the performance of the company in its operations in the market. So, shareholders assess it carefully in order to take their economic decisions. law Net profit margin= (Net profit/ Revenue) * coulomb Banks 2009 2010 2011 UBL 9,192,687/61,107,025* snow 11,159,930/59,331,761* hundred 15,499,663/70,450,475*100 15. 4% 18. 81% 22. 00% Askari Bank 1,097,507/22,586,736*100 943,177/27,952,162*100 1,627,698/32,766,351*100 4. 86% 3. 37% 4. 97% Bank Alfalah 897035/35561312 *100= 968452/37530256*100= 3503130/44298178*100= 2. 2% 2. 58% 7. 91% Banks 2009 2010 2011 UBL 15. 04 18. 81 22. 00 Askari Bank 4. 86 3. 37 4. 97 Bank Alfalah 2. 2 2. 58 7. 91 pic edition and analogy The analysis of above tab le and graph depicts that the Net Profit Margin of all the Three banks is change magnitude. UBL is on the top with 15. 04% earning in the period of 2009 and increasing in the respective(prenominal) grades with 18. 81% in the year 2010 and 22% in 2011 which instals a positive trend which is overdue to the stringent control on operating expenses . While on the side, Askari bank Profit margin shows minor fluctuation with 4. 6% in the period 2009 then decreases in 2010 to 3. 37% owing to increase in non markup expenses and increases to 4. 49% in the year 2011. Profit margin of Bank Alfalah is also showing positive ness which is 2. 52% in 2009 and 2. 58% in the year 2010 and unhinged up to 7. 91% in 2011. 2 Operating funds Flow Ratio Significance The ratio explains the cash flows of the bank or company which it earns by its operations and analyze it against it current liabilities to determine how well a company is in paying its debts which fall due in the financial year.FORMULA Ope ration gold Flow Ratio= Net cash generated from operating activities/ Current Liabilities Banks 2009 2010 2011 UBL 23,099,432/262214540= 100,070,348/369628811= 108,571,682/407621100= 0. 09 propagation 0. 27 clock 0. 7 time Askari Bank 36,245,071/49327164= 35,810,016/114583064= 36,491,839/14943963= 0. 73 Times 0. 31 multiplication 2. 44 quantify Bank Alfalah 19945927/350833577= 18112043/184831395= 54274913/194917015= 0. 06 times 0. 0 time 0. 28 time Banks 2009 2010 2011 UBL 0. 09 0. 27 0. 27 Askari Bank 0. 73 0. 31 2. 44 Bank Alfalah 0. 06 0. 0 0. 28 pic operative Current Liabilities of UBL 2009 2010 2011 Bills payable (Short term) 5,147,259 5,045,815 5,879,043 Borrowings (Short term) 35,018,765 44,187,313 45,534,286 Deposits and other accounts (Short term) 209,685,205 319,797,360 340,999,875 Liabilities against assets subject to finance read (Short term). Other liabilities (Short term) 12,363,311 369,628,811 407,621,100 wide 262,214,540 369628811 407, 621,100 Working Current Liabilities of Askari Bank 009 2010 2011 Bills payable (Short term) 2,945,6703,089,9842,756,032 Borrowings (Short term) 19,300,16325,554,7772,758,043 Deposits and other accounts (Short term) 22,247,84228,646,7715,516,086 Liabilities against assets subject to finance ease (Short term). Other liabilities (Short term) 4,833,48957,291,5323,913,802 Total 49,327,16411458306414,943,963 Working Current Liabilities of Bank Alfalah 2009 2010 2011 Bills payable (Short term) 3,766,144 4,521,533 5,403,453 Borrowings (Short term) 20,107,541 13,050,006 17,060,524 Deposits and other accounts (Short term) 320,249,261 161,368,880 165,257,870 Liabilities against assets subject to finance submit (Short term). 4,429 3,031 Other liabilities (Short term) 6,706,202 5,887,945 7,195,168 Total 350,833,577184,831,395194,917,015 commentary and comparison The analysis of the above table and graph show that Operating Cash Flow of UBL is 0. 09 times in the period 2009 and 0. 27 times in the periods 2010 and 2011 shows consistency in respective years. While the cash flow of Askari bank is 0. 73 times in 2009 and decreases to 0. 31 times due to winnow out in cash generated from operating activities and increases to 2. 44 times in the year 2011 due to the decline in short term liabilities and increase in cash generation. Cash flow of Bank Alfalah is 0. 6times in the year 2009 and 0. 10 times in 2010 and 0. 28 times in the period 2011 shows increasing trend. 3 Gross Spread Ratio Significance It is being calculated by dividing the difference of interest realise and expensed by interest expensed on the deposits of the public. It will help to measure the markup income of the bank in the reporting period. FORMULA Gross Spread Ratio = (Mark-up / return / interest realise Mark-up / return / interest expensed) / Mark-up / return / interest earned*100 Banks 2009 2010 2011 UBL 61,107,025- 28,163,787= 59,331,761- 24,997,188= 70,450,475 -31,025,869= 32,943,2 38/61,107,025= 34,334,573/59,331,761= 39,424,606/70,450,475= 53. 1% 57. 87% 55. 96% Askari Bank 22,586,736 13,554,078 = 27,952,162 17,936,616= 32,766,351- 22,699,583= 9,032,658/22,586,736 = 10,015,546/27,952,162= 10,066,768/32,766,351 = 30. 72 % 39. 99% 35. 3 % Bank Alfalah 35561312 24654180 =10907132/35561312 =37530256 23855448= 44298178 25687485= 30. 67% 13674808/37530256 = 18610693/44298178 = 36. 44% 42. 01% Banks 2009 2010 2011 UBL 53. 91 57. 87 55. 96 Askari Bank 39. 99 35. 83 30. 72 Bank Alfalah 30. 67 36. 44 42. 1 pic Interpretation and comparison The analysis of the above table and graphical histrionics shows the Gross Spread Ratio of UBL 53. 91% in the period 2009 and increases to 57. 87% in the period 2010 and then decreases to 55. 96% in 2011 severally, UBL is on the top in interest earning in the market. Askari bank ratio is 39. 99% in the period 2009, 35. 83% and 30. 72% in the periods 2010 and 2011. While Bank Alfalah ratio is increasing from 20 09 to 2011 with 30. 67%, 36. 44% and 42. 01% which is better marginally then other banks. moreover UBL is earning more as compare to other two banks due to better policy making and service. 4 Non-Interest Income to Total Income Ratio Significance It is other income which a bank earn from its services related to non markup sources such as advisory services and consultation provided in risk management etc. It describes the percentage of non interest income to total income of the bank or company. FORMULA Non Mark-up / interest income to total income ratio= non mark-up / interest income / (non mark-up / interest income +Mark-up / return / interest earned)*100 Banks 2009 2010 2011 UBL 11,419,571/72526596= 10,090,162/69421923= 12,718,253/83168728= 15. 75% 14. 53% 15. 29% Askari Bank 2,544,415/25131151= 2,800,297/30752459= 2,902,921/35669272= 10. 2% 9. 11% 8. 14% Bank Alfalah 5182253/40743565 = 4708161/42238417= 5367713/49665891 = 12. 72 % 11. 15% 10. 81% Banks 2009 2010 2011 UB L 15. 5 14. 53 15. 29 Askari Bank 10. 12 9. 11 8. 14 Bank Alfalah 12. 72 11. 15 10. 81 pic Interpretation and comparison The analysis of the above table and graph shows the Non Interest income of all the three banks with the highest ratio of UBL which is 15. 75% in the period 2009 and 14. 3% in the period 2010 and in 2011 is 15. 29% in comparison with Askari bank and Bank Alfalah. Askari Bank earn 10. 12% in the period 2009 and 9. 11% and 8. 14% in 2010 and 2011 which is declining. While Bank Alfalah ratios are 12. 72%, 11. 15% and 10. 81% in the years 2009, 2010 and 2011 is declining severally. So, UBL shows better ratio as compare to the other banks in all the three years. The Results shows that UBL shows fluctuation while the other banks ratios show declining trend. Working of Total income of UBL Total Income= (Non mark-up / interest income +Mark-up / return / interest earned) Total Income Non Mark-up/interest income 11,419,571 10,090,162 12,718,253 Mark-up/return/inter est earned 61,107,025 59,331,761 70,450,475 Total Income = 72526596 69421923 83168728 Working of Total income of Askari Bank Total Income Non Mark-up/interest income 2,544,415 2,800,297 2,902,921 Mark-up/return/interest earned 22,586,736 27,952,162 32,766,351 Total Income 25131151 30752459 35669272 Working of Total Income of Bank Alfalah Total Income= (Non mark-up / interest income +Mark-up / return / interest earned) Total Income Non Mark-up/interest income 5182253 4708161 5367713 Mark-up/return/interest earned 35561312 37530256 44298178 Total Income 40743565 42238417 49665891 Interpretation and comparison Interpretation is missing. 5 Spread Ratio Significance It is the ratio that describes the markup spread between income and expense. It helps to measure how much income bank earns by incurring markup cost.Higher ratio shows more profitability through loans and investments. Formula- Spread Ratio = Interest Earned / Interest Expensed Banks 2009 2010 2011 UBL 61,107, 025/28,163,787= 59,331,761/24,997,188= 70,450,475/31,025,869= 2. 17 times 2. 37 times 2. 7 times Askari Bank 22,586,736/13,554,078= 27,952,162/17,936,616= 32,766,351/22,699,583= 1. 68 times 1. 56 times 1. 44 times Bank Alfalah 35561312/24654180 = 37530256/23855448= 44298178/25687485= 1. 44 times 1. 7 times 1. 72 times Banks 2009 2010 2011 UBL 2. 17 2. 37 2. 27 Askari Bank 1. 67 1. 56 1. 44 Bank Alfalah 1. 44 1. 7 1. 72 pic Interpretation and comparison The analysis of the above table and graph shows the Spread Ratio of the UBL which is highest as compare to the other two banks, is at 2. 17 times in the year 2009 and increases to 2. 37 times in the year 2010 and 2. 27 times in the year 2011, decreases the zig zag trend is due to the fluctuation in both aspects interest earn and expensed. While the ratio of Askari bank 1. 67% in the year 2009, 1. 56% in the year 2010 and 1. 4% in the year 2011 respectively. Bank Alfalah ratio shows increasing trend end-to-end the three y ears 2009 to 2011 which are as 1. 44%, 1. 57%, 1. 72% which shows better recovery of interest income from its investments 6 Advances / Deposits Ratio Significance It defines the advances banks make from the available deposits. It measures the ability of the bank in fruitful usance of money of the depositors which will increase the markup income. FORMULA Advances / Deposits Ratio= Total Advances/ Total Deposits Banks 2009 2010 2011 UBL 354,091,713/492,036,103= 333,732,172/550,645,767= 325,347,208/612,980,139= 0. 72 times 0. 61 times 0. 53 times Askari Bank 135,034,499/205,970,227= 152,784,137/255,936,503= 150,710,709/291,502,993= 0. 6 times 0. 60 times 0. 52 times Bank Alfalah 188042438/324759752= 207152546/354015311= 198468512/401247886= 0. 58 times 0. 59 times 0. 49 times Banks 2009 2010 2011 UBL 0. 2 0. 61 0. 53 Askari Bank 0. 66 0. 60 0. 52 Bank Alfalah 0. 58 0. 59 0. 49 pic Interpretation and comparison The analysis of the above table and graph shows Advance/Depos it ratio of UBL which is very high as compare to other banks 0. 2 times in the year 2009 and 0. 61 times in the year 2010 and 0. 53 in the year 2011. Askari bank ratio is 0. 66 times, 0. 60 times and 0. 52 times in the consecutive years 2009, 2010 and 2011. While the ratio of bank Alfalah is 0. 58 times in 2009 and increases to 0. 59 times 2010 and decline drastically to 0. 49 times in 2011with 0. 10 times which shows that Bank Alfalah is not utilizing its deposits effectively as compare to other banks. 7 Return on Total Equity (ROE) Significance It measures income bank earns from the equity.It determines the ability of the institution how productively it uses the money of shareholders in its business. High ratio will allurement more investors. FORMULA Return on total Equity=Net Income/ Total equity*100 Banks 2009 2010 2011 UBL 9,192,687/52276246*100= 11,159,930/60180924*100= 15,499,663/70,622,933*100= 17. 58 % 18. 4 % 21. 94% Askari Bank 1097507/ 13142688 943177/ 14820578*100= 1627698/ 16508782*100= *100= 8. 35 % 6. 36 % 9. 86 % Bank Alfalah 897035/ 19770260 *100= 968452/ 19726556*100= 3503130/ 22839886*100= 4. 4 % 4. 91 % 15. 34 % Banks 2009 2010 2011 UBL 17. 58 18. 54 25. 76 Askari Bank 8. 35 6. 36 9. 86 Bank Alfalah 4. 4 4. 91 15. 34 pic Working of Total Equity UBL (UBL) Working Total equity Total Equity 2009 2010 2011 apportion capital 11,128,907 12,241,798 12,241,798 reserves 18,959,537 21,688,637 Un appropriated profit 22,187,802 26,250,489 Total Equity 52276246 60180924 Working of Total Equity (Askari bank) 2009 2010 2011 Share capital 5,073,467 6,427,440 7,070,184 Reserves 7,235,710 7,691,319 8,136,440 Un appropriated profit 833,511 701,819 1,302,158 Total Equity 13,142,688 14,820,578 16,508,782 Working of Total Equity (Bank Alfalah) 2009 2010 2011 Share capital 13491563 13491563 13491563 Reserves 3587969 3819133 4100264 Un appropriated profit 2690728 2415860 5248059 Total Equity 19770260 19726556 22839886 Interpretation and comparison The analysis of the above table and graph show the Return On equity of all the three banks. UBL ratio is 17. 58% in the year 2009, 18. 54% in the year 2010 and 25. 76% in the year 2011. While Askari bank ratio is 8. 35% in 2009, 6. 36% in the period 2010 and 9. 86% in 2011 respectively. Bank Alfalah ratios are 4. 54%, 4. 91% and 15. 34% in the periods 2009, 2010 and 2011.So on marginal basis Alfalah improves utilization of equity then other two banks. But on the whole, UBL is on the top in optimum utilization of stakeholders equity. 8 Debt Ratio Significance It measures the liabilities of the bank or company against the total assets. It should be low as investors like low ratio because the need their residual interest to be secured. FORMULA Debt ratio= (Total debt/ Total assets)*100 Banks 2009 2010 2011 UBL 558,779,710/619,718,433*100= 631,402,822/699,817,887*100= 698,906,833/778,059,741*100= 90. 7% 90. 22 % 89. 83 % Askari Bank 239,378, 374/254,327,446*100= 298,740,410/314,744,552*100= 325,980,040/343,756,306*100= 94. 12 % 94. 92% 94. 83% Bank Alfalah 366936635/389070055*100= 389178295/411483839*100= 442396764/468173802*100= 94. 31% 94. 58 % 94. 49 % Banks 2009 2010 2011 UBL 90. 17 90. 22 89. 83 Askari Bank 94. 12 94. 92 94. 83 Bank Alfalah 94. 31 94. 58 94. 49 pic Interpretation and comparison The analysis of the above table and graph show the Debt Ratio, UBL ratio is 90. 17 in the year 2009, 81. 15% in the year 2010 and 99. 7% in the year 2011. Askari bank ratio is 94. 12% in 2009, 94. 12% in 2010 and 94. 83% in 2011 which show consistency in the three years. Bank Alfalah shows also ordered trend in 2009, 2010 and 2011 are 94. 31%, 94. 58% and 94. 49%. So results show that UBL ratio is increasing which is not good indication as compare to other banks, while other banks are controlling effectively their Debt ratio. 9 Debt / Equity Ratio Significance It is the percentage of liabilities to shareholders mo ney. It will define either the bank is equity or liability based. It also helps to assess the how risky the company is. FORMULA Debt / Equity Ratio = (total debt/ total equity) Banks 2009 2010 2011 UBL 558,779,710/52276246= 631,402,822/60180924= 698,906,833/70,622,933= 10. 69 times 10. 49 times 9. 90 times Askari Bank 239,378,374/13142688= 298,740,410/14820578= 325,980,040/16508782= 18. 21 times 20. 16 times 19. 75 times Bank Alfalah 366936635/19770260 = 18. 56 times 389178295/19726556= 19. 73 times 442396764/22839886= 19. 37 times Banks 2009 2010 2011 UBL 10. 69 10. 49 11. 61 Askari Bank 18. 21 20. 16 19. 75 Bank Alfalah 18. 56 19. 73 19. 37 pic Interpretation and comparison The analysis of the above table and graph shows the Debt/Equity ratio where UBL ratio is 10. 69% in 2009,10. 49% in the year 2010 and 11. 1% in the year 2011 respectively which remains consistent in first two years then increases in 2011. Askari bank ratio is 18. 21% in 2009 which too high as comp are to UBL, 20. 16% in 2010 and 19. 75% in the year 2011. While Bank Alfalah is on the same level 18. 56% in 2009, 19. 73% and 19. 37% in the years 2010 and 2011. As as consequence of analysis, UBL ratio is much better then other banks as its ratio is approximately 8% below the other banks ratio. 10 Price/Earnings Ratio Significance It will define the price of share against the per share earning. It should be high as it shows business prosperity and growth chances are bright in future. FORMULA P/E = Current Market Share Price/ EPS Working of EPS EPS WORKING UBL 2009 2010 2011 Net Income= 9,192,687 Net Income= 11,159,930 Net Income= 15,499,663 soma of shares= 1,112,890 weigh of shares= 1,224,179 Number of shares= 1,224,179 = Net income/ outstanding number of shares = Net income/ outstanding number of shares =9,192,687 / 1,112,890 = 11,159,930/1,224,179 = Net income/ outstanding number of shares = 8. 26 per share = 9. 12 per share = 15,499,663/1,224,179 = 12. 66 per shar e No of outstanding share figure has been taken from the notes i. e Share capital EPS WORKING ASKARI BANK 2009 2010 2011 Net Income= 1,097,507 Net Income=943,177 Net Income= 1,627,698 Number of shares= 642,743 Number of shares= 707,018 Number of shares= 507,346 = Net income/ outstanding number of shares = 943,177/642,743 = Net income/ outstanding number of shares = Net income/ outstanding number of shares = 1. 47 per share = 1,627,698/707,018 = 1,097,507/507,346 = 2. 30 per share = 2. 16 per share BANK Alfalah 2009 2010 2011 Net Income= 897,035 Net Income= 968,452 Net Income= 3,503,130 Number of shares= 134,9156 Number of shares= 134,9156 Number of shares= 134,9156 = Net income/ outstanding number of shares = Net income/ outstanding number of shares = Net income/ outstanding number of shares = 897,035/ 134,9156 = 968,452/ 134,9156 = 3,503,130/ 134,9156 = 0. 66 per share = 0. 71 per share = 2. 59 per share 0. 66 0. 71 2. 59 Banks 2009 2010 2011 UBL 64. 25/8. 26= 7. 77 times 84. 23/9. 12= 9. 23 times 84. 17/12. 66= 6. 64 times Askari Bank 45. 25/2. 16 = 20. 92 times 64. 75/1. 47 = 44. 12 times 73. 49/2. 30 = 31. 92 times Bank Alfalah 77. 45/0. 66 = 116. 48 times 114. 23/0. 72= 159. 13 times 16. 87/2. 60= 6. 69 times Banks 2009 2010 2011 UBL 7. 77 9. 3 6. 64 Askari Bank 20. 92 44. 12 31. 92 Bank Alfalah 116. 48 159. 13 6. 69 pic Interpretation and comparison The analysis of the above table and graph shows the Price Earning ratios, UBL ratio is 7. 77 times in the year 2009, 9. 23 times in 2010 and 6. 64 times in the year 2011is respectively declining. While Askari bank ratio 20. 92 times in 2009, 44. 12 times in 2010 and increases to 31. 2, on the other hand you can see the P/E of bank Alfalah in year 2009,2010, 2011 is 116. 48 in year 2009, 159. 13 year 2010 and 6. 69 in year 2011. After the result it has prove that Bank Alfalah P/E is higher and better in year 2009 and year 2010 than other two banks. Askari bank and UB L shows declining trend which is unfavorable for the investors. Chapter 4) Conclusion and Recommendations 4. 1) Conclusion Following findings has been inferred on the basis of above ratio analyses which are as 1. Net profit margin ratio of UBL is high as compare to Askari and Alfalah. In addition to that, Bank Alfalah captures the second level in the comparison.So, UBL has taken over the major share of profit margin 2. Analysis of Operating Cash Flow ratio shows Askari bank ratio is high as compare to UBL and Alfalah. 3. On the basis of ratio analysis UBL gross spread ratio is good and high as compare to Askari and bank Alfalah in the current year. While Bank Alfalah is ranked second in the comparison. 4. In accordance with the analysis of non-interest income to total income ratio UBL ratio is high as compare to the other two banks. While analysis show Askari bank ratio is lowest than UBL and bank Alfalah. 5. The analysis has shown UBL spread ratio is high and much better than other banks in comparison. 6.On the basis of advance/Deposit ratio analysis UBL ratio is high as compare to Askari and Alfalah in the current year. 7. The analysis of Return on equity ratio shows that UBL return is high and better than the other two banks. 8. Debt ratio Analysis shows that UBL ratio is high than other two banks. While Askari and Alfalah are at the same level. 9. According to the analysis of Debt/Equity ratio Askari bank ratio is high and bank Alfalah is on the second position. 10. The Price/Earning ratio of Askari bank is high in the analysis of the three banks. While UBL is on the second and bank Alfalah is on the trine rank. 4. 2) Recommendations 1. The Net profit Margin ratio of Askari and bank Alfalah is low.In order to improve their net profit both the banks should have to cut down their non markup expenses while, on the other hand their turnover is satisfactory. 2. The Operating cash flow of UBL and Alfalah should have to be improved. These banks should decrease t heir current liabilities and ensure the availability of more liquidity to meet short term debts. 3. Askari bank and bank Alfalah both banks need to adopt measures to cut down their interest expenses in order to increase their gross spread ratio. 4. In order to increase non interest income Askari and Alfalah needs to increase their earnings through fees, commissions and other advisory charges etc. 5.In Advance/Deposit ratio Askari bank and Alfalah should have to utilize their deposits in more projects either through corporate financing or general public financing. 6. 6. Return on total equity of Askari bank is low, it should increase its net income by cut down its expenses with significant margin. 7. Debt ratio of UBL is high so it should have to avoid more borrowings and use available funds in more proper ways. 8. Spread ratio of Askari bank is low as compare to other banks it should have to increase its lending and use deposits in effective ways. SECTION II a) Introduction of the schoolchild Last Degree Obtained Bachelor of Commerce Current Organization Dubai City Flowers LLC, Dubai, UAECurrent Designation Administration bowl Experience 10+ years b) BIBLOGRAPHY Askari bank limited Pakistan. (2009). annual-reports. Retrieved December 6, 2012, from Askari bank Limited appointed websitehttp//www. askaribank. com. pk/Reports/Askari%20Financials%202009. pdf Askari bank limited Pakistan. (2010). annual-reports. Retrieved December 6, 2012, from Askari bank Limited Official websitehttp//www. askaribank. com. pk/Reports/Askari%20AR2010%20(Final%20Version). pdf Askari bank limited Pakistan. (2011). annual-reports. Retrieved December 6, 2012, from Askari bank Limited Official website http//www. askaribank. com. k/Reports/Askari%20AR%202011%20ALL. pdf United bank limited . (2009). Financial-reports. Retrieved December 6, 2012, from United bank Limited Official website https//www. ubldirect. com/corporate/resources/ubl/aboutus/financial_report/report_2009/annual_dec0 9/UBLAnnualReport2009. pdf. United bank limited . (2010). Financial-reports. 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