Why Setting Limits Is Important For The Relationship...

5 Setting Limits. To explain why setting limits is important for the relationship between you and your teen I would have to blog about it for days. The simple fact is that setting limits is structure that is essential to the relationship you’re going to establish with your children. These limits will be tested and negotiated. These limits are what will help build core beliefs and values that your teen will carry with them for the rest of their lives. These limits will allow for control and focus when it comes to what is best for your teen. Some parents like to sit down and make sure that they know where they stand with every rule, and others like to negotiate some of the rules with their teen. Neither of these is â€Å"wrong† as long as†¦show more content†¦Take the time to have a conversation about it and not just run down a list of rules. I’m telling you parents out there, the quickest way to impress a teen is to allow them the opportunity to make a choice and have a say in things. When your kids are little you tell them what to do and they learn by command and structure. This is a great way for children to learn. Teens, especially those who are struggling with emotions, hormones, and other chemical based issues, respond more positively to situations that seemingly allow the teen the power of choice, and will help defuse more than a few potentially hostile situations. Here is the thing about those options and your teen’s choices. You have to make sure that you are in control of all options presented. The task should never be compromised from the parental point of view. In the end, you are simply giving the teen options that you are already OK with. A parent who walks away from these situations and does not feel like they really got what they want, is going to have a hard time reconciling with the outcome of future events. As an example, when I was tasked with the job of getting teens to do homework, it was always easier to give options that allowed the teen the choice of when to study, but the studying always was completed. I like to ask questions and compromise. I find it easy and usually ends in a positive way. Examples: â€Å"I’ll tell you what. You can play Xbox now if you really want too but that just

The United States Board Of Education Fosters The Mission

The United States Board of Education fosters the mission statement to, â€Å"promote student achievement and preparation for global competitiveness by fostering educational excellence and ensuring equal access†(U.S. Department of Education). The United States currently uses standardized test to serve as a knowledge check point. The system then compares the test results to develop a black and white curriculum for all students, failing to include aspects of different learning techniques. The standardized results provided excellent information about students’ ability to comprehend a statement and regurgitate an answer by filling in A, B, or C. The tests fail to promote creativity and diverse thinking. In a perfect world, educational systems would†¦show more content†¦As stated in the Atlantis, one of America’s leading political magazines, â€Å"Finland s success is especially intriguing because Finnish schools assign less homework and engage children in mo re creative play†(Partanen). So how is Finland consistently turning in some of the highest test results? Could the United State’s k-12 education ever adapt to reform its system to reflect Finland s suggests? To improve the United States current education, schools need to find an alternative to standardized tests and make classrooms more interactive. The curriculum needs to be focused on students’ futures to prepare them for the 21st century, not the past. Prince EA, a motivational filmmaker, poet, and speaker, made a YouTube video about the United States education system, he opens with a quote from Albert Einstein that states, â€Å"Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.† To put this into perspective, standardized tests represent the tree and students represent the fish. Most students don’t process information in the same way. In Fact, it’s widely accepted that different approaches to learning have numerous advantages to stimulate students’ learning motivation (Proulx etc.). Many modern day U.S. schools use digital game-based learning. This approach, â€Å"integrat[es] appropriate learning strategies into a game [to]Show MoreRelatedInfluential Nursing Organizations : Their Roles And Responsibilities1177 Words   |  5 Pageshow each benefits professional registered nurses and nursing students Vickie Shipley Daytona State College â€Æ' Influential Nursing Organizations: Their roles and responsibilities and how each benefits professional registered nurses and nursing students Professional registered nurses and student nurses have access to many influential organizations that offer support, information, leadership, and education. 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Foreign Exchange of Ibbl Free Essays

CHAPTER-1 INTRODUCTORY PART †¢ Introduction †¢ Origin of the Report †¢ Scope of the Study †¢ Objective of the study †¢ Methodology †¢ Limitation of the study CHAPTER-1 INTRODUCTORY PART 1. 1 Introduction: Bangladesh is one of the largest Muslim countries in the World. The people of this country are deeply committed to Islamic way of life as enshrined in the Holy Quran and the sunnah. We will write a custom essay sample on Foreign Exchange of Ibbl or any similar topic only for you Order Now Naturally, it remains a deep cry in their hearts to fashion and design their economic lives in accordance with the precepts of Islam. The establishment of Islami Bank Bangladesh Limited on March 13, 1983, is the true reflection of this inner urge of its people, which started functioning with effect from March 30, 1983, . It is committed to conduct all banking and investment activities based on interest free and profit-loss sharing system. In doing so, it has unveiled anew horizon and ushered in a new silver lining of hope towards materializing a long cherished drems of the people of Bangladesh for doing their banking transactions in line with prescribed by Islam. With the active co-operation and participation of Islam Development Bank (IDB) and some other Islamic bank , financial institutions ,government bodies and eminent personalities of the Middle East and the Gulf countries , Islami Bank Bangladesh Limited (IBBL) has by now earned the unique position of a leading private commercial Bank in Bangladesh. 1 2 1. 2 Origin of the Report: Compliant with the rule of the BBA Program, it is mandatory for a student to intern in an organization, in order to be acquainted with the real practices. Banking business in today’s world is going rapidly. Bank deals with diversified work. Here, many things have to learn quickly which later helps to build career decision. So, I had selected Islami Bank Bangladesh Limited for the internship. The topic of my study is â€Å"Different Modes of Investment of IBBL on Mirpur Branch† 3 4 1. 3 Scope of the Study: BBA course curriculum necessitates for knowing the banking system of any bank. No economic standard can run without banking system or any other financial institutions. My study is ‘Different modes of investment of IBBL on Mirpir Branch’ is a relevant and core of Banking business. Without this concern bank cannot think of its business and existence. I have worked at Pallabi Branch of IBBL. The report covers brief overview of IBBL, its products services; the report covers brief overview of IBBL, its products services, operating activities financial position, performance analysis, different types of modes present situation, performance analysis and SWOT analysis of IBBL. 1. 4 Objectives of the study: The objectives of this report are: To know about Islamic banking system in Bangladesh. To know about different modes manufacturing of investment of Islami Bank Bangladesh limited. ? To study the performance of different modes of investment of Islami bank Bangladesh limited. ? To identify the problem of Islami Bank Bangladesh limited. ? To make sngation. 5 1. 5 Methodology: This report has been prepared on the basis of experience gathered duri ng the period of internship form 19th April to13thjun. Within this period I visited three department namely General Banking, Investment and Foreign Exchange departments. Section |Duration |Working Day | |General Banking |From /08/2011 to /08/2011 | | |Investment |From /08/2011 to /08/2011 | | |Foreign Exchange |From /08/2011 to /08/2011 | | A. Sources of Data: The report is prepared by using both primary and secondary data. ) Primary Sources: A lots of the required information came from primary sources. These sources are: o Face to face conversation with the officers: Officers of the general banking, Foreign Exchange Investment Division of Mirpur Branch, Dhaka have been interviewed. o Practical desk work o Relevant file study as provided by the concerned officer o In depth study of selected cases. o Maintaining diary. ii) Secondary sources: Conceptual parts of the report have been collected by studying different literatures regarding credit appraisal system. Some of these secondary sources are: ? Different Circulars issued by the Head Office and Bangladesh Bank ? Different ‘Investment Manual’, published by IBBL. ? Annual Reports 2010 of IBBL. ? www. islamibankbd. com ? Newspaper information on several days ? Audit Reports. ? Relevant books, Newspapers and Journals. B. Analysis of Data: Some arithmetic and graphical tools are used in this report for analyzing the collected data and to classifying those to interpret them clearly. 6 1. 6 Limitations of the study: Islami banking system is different than the traditional banking system †¢ It is very difficult to analyze this issue without proper knowledge about Islamic banking and economy. †¢ As it is not conventional so it bears some complexity to understand. †¢ Some words are in Arabic terms that make it difficult. †¢ It is time consuming to differentiate understand interest profit. CHAPTER-2 ORGANIZATIONAL PART †¢ Background †¢ Definition of Isla mic Economy †¢ Islamic Banking †¢ History of Islamic Banking Goals Objectives of Islami Banking †¢ Essential Features of an Islamic Bank †¢ Distinguishing Features of Islamic Banking against Commercial Banking †¢ Brief Description of the IBBL †¢ Mission †¢ Vision †¢ Aims and Objectives †¢ Functions of IBBL †¢ Structure of the organization CHAPTER-2 ORGANIZATIONAL PART 7 2. 1 Background: Islam is a complete way of life, and Allah’s Guidance extends into all areas of our lives. Islam has given detailed regulations for our economic life, which is balanced and fair. Muslims are to recognize that wealth, earnings, and material goods are the property of Allah and we are merely his trustees. The principles of Islam aim at establishing a just society wherein everyone will behave responsively and honestly. The Quaranic concept is based upon sovereignty of Allah overall. He is the source of income for human beings. The Almighty provides whatever man possesses to him. Allah is the sustainer of human beings, animals and other beings. It is his desire to whom he gives more and to whom he gives less. 2. 2 Definition of Islamic Economy: a) Islamic Economics is that branch of knowledge, which helps realize human well being through an allocation and distribution of scarce resource that is in conformity with Islamic teachings without unduly curbing individual freedom, or creating continued macro-economic and ecological imbalances- By Omar Chapra (b) Islamic Economics is the science of how man uses resources and means of production to study his worldly needs a ccording to a predetermined code given by Allah in order to achieve the greatest equity- By Princes Muhammad Al-Faisal Saud. 2. 3 Islamic Banking: In the late seventies and early eighties, Muslim countries were awoken by the emergence of Islami Bank which provided interest free banking facilities. There are currently more then 300 interst free institutions all over the world. Islami Bank now a days not only operate in almost Muslim countries but have extended their wings to the Western world to serve both Muslim and non Muslim countries. In case of Islami Banking the establishment of Mitghamar Local Savings Bank in 1963 is said to be a milestone for modern Islami Banking can nevertheless be traced back to the birth of Isalm. Definition of Islami Banking: An Islami Bank is a financial institution whose statutes, rules and regulations expressly state its commitment to the principles of Islamic Shariah and to the banning of the receipt and payment of interest on any of its operating. – According to OIC 2. 4 History of Islamic Banking: During Sumerian, Babylonian and Mesopotamian civilization, temples gave loans to states and individuals and accumulated much wealth prompting various councils to issue decrees. City of Mecca was complex and heterogeneous place, where clan and tribal community were involved in interest based loans. Prophet and his companions were to introduce Arabs to Islam. There is evidence to indicate that the development of Islami Banking started from the time of Prophet. Four revelations of Al-Quran specifically dealing with interest are milestone which later shaped the operational aspects of the Islami Banking system. There are numerous Hadiths relevant to banking which clearly prohibits Muslim from accepting or paying riba. The only known organized financial institution originated during prophet was the Baitul Mal, which involved in state income, expenditure and development purpose. Evidence indicates that the two sons of Chaliph Umar were given loans from Baitul Mal which they used on their way back to Madina for trading and consequently earned profit. Caliph declared it as Mudaraba and taken half profit for Baitul Mal against involved capital. 2. 5 Goals Objectives of Islami Banking: (a) Establishment of an Interest frees financial system. (b) Ensuring justice to both suppliers of fund and user of fund. (c) Encouraging patronizing entrepreneurship. (d) Creating employment. (e) Bridging up the gap between the surplus and deficit of fund. (f) Development of a healthy capital and money market. g) Providing various services and utilities to the public. (h) Development of standard of living. (i) Maintaining justice and equity at all level of transaction. (j) Swishing over to mass banking from class banking. (k) Alleviating Poverty through Zakat profit sharing micro-finance. 2. 6 Essential Features of an Islamic Bank: a) Prohibition of Interest: The traditional c apitalist banking system depends of interest for providing loans and pays interest for taking loans. The spread between these two interests is the source of its profit. But according to Islamic Shariah all types of interest is banned. So Islamic Bank does not carry on business of interest and it completely avoids the transaction of interest. b) Investment Based on Profit: After departing from interest, the alternative ways of income for Islamic Bank are investment and profit. Thus Islamic Bank gives up any transaction of interest and makes investments based on profit. Bank distributes its profit to its depositors and shareholders. c) Investing in Halal Business: Islamic Shariah has banned the business of haram goods. For example Islam not only forbids the drinking of alcohol but also banned any business of alcohol. Therefore Islamic Bank does not get any haram business and only do halal business. d) Halal Paths and Procedures: Islamic Shariah also reject any haram path or process any case of a halal business. Therefore Islamic Banking system only allows the halal path procedures of Halal business. 2. 7 Distinguishing Features of Islamic Banking against Commercial Banking: (a) Risk Sharing: †¢ No predetermined rate of return. †¢ Sharing end result of the business. †¢ Mudaraba loss is entirely borne by the Shahib-al-Maal. (b) Emphasis on productivity not on credit worthiness: †¢ Dominant consideration no on collaterals. Emphasis on soundness of the project. (c) Moral Dimension: †¢ Islamic value oriented system. †¢ Full compliance of Shariah. †¢ No finance for wine/tobacco/casino/pork production or trading. (d) Equity: †¢ Justice to all parties. †¢ Riba is unjust. (e) Allocative efficiency: †¢ Productive of the project. †¢ Finance goes to high productive project even if credit worthiness is lower. (f) Stability of the Banking System: †¢ Mudaraba Musharaka Mechanism ensures stability. (g)Growth: †¢ Promotes Innovation. †¢ Entrepreneurship Development. 2. 8 BRIEF DESCRIPTION OF THE IBBL: Bangladesh is one of the largest Muslim countries in the world. The people of this country are deeply committed to Islamic way of life as enshrined in the Holy Quran and the Sunnah. Naturally, it remains a deep cry in their hearts to fashion and design their economic lives in accordance with the precepts of Islam. The establishment of Islami Bank Bangladesh Limited on March 13, 1983, is the true reflection of this inner urge of its people, which started functioning with effect from March 30, 1983. This Bank is the first of its kind in Southeast Asia. It is committed to conduct all banking and investment activities on the basis of interest-free profit-loss sharing system. In doing so, it has unveiled a new horizon and ushered in a new silver lining of hope towards materializing a long cherished dream of the people of Bangladesh for doing their banking transactions in line with what is prescribed by Islam. With the active co-operation and participation of Islamic Development Bank (IDB) and some other Islamic banks, financial institutions, government bodies and eminent personalities of the Middle East and the Gulf countries, Islami Bank Bangladesh Limited has by now earned the unique position of a leading private commercial bank in Bangladesh. 2. 9 Mission: To establish Islamic Banking through the introduction of a welfare oriented banking system and also ensure equity and justice in the field of all economic activities, achieve balanced growth and equitable development through diversified investment operations particularly in the priority sectors and less development areas of the country. To encourage socio-economic enlistment and financial services to the low income community particularly in the rural areas. 2. 10 Vision: IBBL’s vision is to always strive to achieve superior financial performance, be considered a leading Islamic Bank by reputation and performance. The bank’s goal is to establish and maintain the modern banking techniques, to ensure the soundness and development of the financial system based on Islamic principles and to become the strong and efficient organization with highly motivated professionals, working for the benefit of people, based upon accountability, transparency and integrity in order to ensur e the stability of financial systems. †¢ The bank will try to encourage savings in the form of direct investment. †¢ The bank will also try to encourage Investment particularly in projects which are more likely to lead to higher employment. 2. 1 Aims and Objectives: †¢ To conduct interest-free banking. †¢ To establish participatory banking instead of banking on debtor-creditor relationship. †¢ To invest on profit and risk sharing basis. †¢ To accept deposits on Mudaraba Al-Wadeah basis. †¢ To establish a welfare-oriented banking system. †¢ To extend co-operation to the poor, the helpless and the low-income group for their economic enlistment. To play a vital role in human development and employment generation. †¢ To contribute towards balanced growth and development of the country through investment operations particularly in the less developed areas. To contribute in achieving the ultimate goal of Islamic economic system. 2. 12 Function s of IBBL: The IBBL’s has number of Functions, they are as follows: 1. General banking ? Account Opening Section ? M. S. B, M. S. S, Hajji Section ? P. O, T. D. R, D. D, T. T Section ? Cash Section ? Clearing House Section ? Transaction Entry Section 2. Foreign Exchange Section ? Activities for importer ? Activities for exporter ? Collecting and sending foreign remittance 3. Investment Section ? Activities for importer ? Activities for exporter ? Collecting and sending foreign remittance 2. 13 Organization Structure of Islami Bank Bangladesh Limited: [pic] [pic] CHAPTER-3 MODES OF INVESTMENT IN IBBL †¢ Introduction †¢ Investment policy of IBBL †¢ Investment Strategy of IBBL †¢ Investment Modes of IBBL †¢ Mode wise investment †¢ Sector wise Analysis †¢ Special Investment Schemes of IBBL CHAPTER-3 MODES OF INVESTMENT IN IBBL 3. 1 Introduction: Islamic Bank does not invest in loans and fixed interest securities. It can invest in ordinary share only while interest based bank can invest in loans and different kinds of securities. Islami Bank establishes and participate projects with its client as a partner and bears the risk along with the client on a proportionate basis. Besides, other conventional banks sometimes finance projects but do not bear risk. Finally, the concept of Islamic Bank is to establish on egalitarian society based on principles of social justice and equity. Whereas traditional banks pay a fixed interest on savings, time deposit and grant loans with interest for any purpose. We have gathered the fact that investment management is the theme of IBBL. The bank takes deposits and invests the same based on the profit-loss sharing. Bank go for the investment mainly which are long term and profitable in nature. IBBL also give high concentration on the investment that will generate more employment. As investment is one of the most priority areas for the IBBL, so it needs to cautious in investment decision. To ensure proper investment IBBL always go with in-depth study before making the investment. So in the next phases we are going to demonstrate the way IBBL follow the manage investment. 2 Investment policy of IBBL: Investment policy of Islamic Bank and non Islamic bank are fully different. The investment policies of Islami bank Bangladesh limited are given follows †¢ To invest fund strictly in accordance with the principles of Islamic Shariah. †¢ To diversify its investment portfolio by size of investment, by sectors (public private), by economic purpose, by securities and by geographical area including industrial, commercial agricultural. †¢ To ensure mutual benefit both for the Bank and the investment-client by professional appraisal of investment proposals, judicious sanction of investment, close and constant supervision and monitoring thereof. To make investment keeping the socio-economic requirement of the country in view. †¢ To increase the number of potential investors by making participatory and productive investment. †¢ To finance various development schemes for poverty alleviation, income and employment generation with a view to accelerating sustainable socio-economic growth and upliftment of the society. †¢ To invest in the fo rm of goods and commodities rather than give out cash money to the investment clients. †¢ To encourage social upliftment enterprises. †¢ To shun even highly profitable investment in fields forbidden under Islamic Shariah and are harmful for the society. The Bank extends investments under the principles of Bai-Murabaha, Bai-Muazzal, Hire Purchase under Shirkatul Meelk and Musharaka. The Bank is making sincere efforts to go for investment under Mudaraba principle in near future. 3. 3Investment Strategy of IBBL: Most of the cases investment strategy of Islamic Bank and interest-based bank are contradictory. The investment strategies of Islami Bank Bangladesh limited are given below: ? To check exodus of investment clients. ? To induct new investment clients. ? To induct good investment clients of other Banks. To enhance existing limits of good investment clients. ? Extension of investment transport sector. ? Extension of investment to backward as well as forward linkage indus tries. ? Extension of investment to real Estate Sector. ? Extension of investment to Jute sector; particularly for trading and export purpose. ? Strengthening supervision, control and monitoring mechanism. ? Training and motivation of manpower to handle increased and diverse volume of investment s. ? To give due consideration to high risk, high return and low risk, low return investment proposals. Adaptation of modern technology 3. 4 Investment Modes of IBBL: IBBL invests its money in various sectors of the economy through different modes permitted by shariah and approved by the Bangladesh Band. The modes of investment are as follows: [pic] A. Bai-Mechanism (Trading mode): Bai-Murabaha: Bai- murabaha may be defined as a contract between a buyer and a seller under which the sells certain specific goods (permissible under Islamic shariah and the law of the land) to the buyer at a cost plus agreed profit payable in cash or on any fixed future data in lump sum or by installments. The marked up profit may be fixed in lump sum or in percentage of the cost price of the goods. Important features: ( It is permissible for the client to offer an order to purchase by the bank particular goods deciding its specification and committing him to buy same from the bank on murabaha, i. e. cost plus agreed upon profit. ( It is permissible to make the promise binding upon the client to purchase from the bank, that is, he is to satisfy the promise or to indemnify the damages caused by breaking the promise without excuse. It is also permissible to take cash / collateral security to guarantee the implementation of the promise or indemnify the damages. ( Stock availability of goods is a basic condition for signing a Bai-murabaha agreement. Therefore, the bank must purchase the goods as per specification of the client to acquire ownership of the same before signing the Bai-Murabaha agreement with the Client. ( After purchase of goods the Bank must bear the risk of goods until thos e are actually sold and delivered to the Client, i. e. after purchase of the goods by the Bank and before selling of those on Bai-Murabaha to the Client buyer, the bank bear the consequences of any damages or defects, unless there is an agreement with the Client releasing the bank of the defects, that means, if the goods are damaged, bank is liable, if the goods are defective, (a defect that is not included in the release) the Bank bears the responsibility. ( The Bank must deliver the specified Goods to the Client on specified date and at specified place of delivery as per Contract. ( The bank shall the goods at a higher price (Cost + {profit) to earn profit. The cost of goods sold and profit markup therewith shall separately and clearly be mentioned in the Bai-Murabaha agreement. The profit Mark-up may be mentioned in lump sum or in percentage of the purchase/cost price of the goods. But, under no circumstance, the percentage of the profit shall have any relation with time or expressed in relation with time, such as per month, per annum etc. ( The price once fixed as per agreement and deferred cannot be further increased. ( It is permissible for the bank to authorize any third party to buy and receive the goods on Bank behalf. The authorization must be in a separated contract. Bai-Muajjal: Bai-Muajjal may be defined as a contract between a buyer and seller under which the seller sells certain specific goods permissible under Islamic Shariah and law of the country to the buyer at an agreed fixed price payable at a certain fixed future date in lump sum or within a fixed period by him as per order and specification of the buyer. Important feature: I. Bank is not bound to declare cost of goods and profit mark-up separately to the client. II. Spot delivery of the item and payment is deferred. III. The bank transfers ownership and possession of the goods to the client before receipt of sale price. IV. Client may offer an order to purchase by the bank any specified goods and committing himself to buy the same from the Bank on Bai-Muajjal mode. V. It is permissible to make the promise binding upon the client to purchase from the bank. That is, he is either to satisfy the promise or to indemnify damage caused by breaking the promised. VI. Cash /Collateral Security should be obtained to guarantee the implementation of the promise or to indemnify the damages. VII. Mortgage / Guarantee /Cash Security may be obtained before / at the time of signing the agreement. VIII. Stock and availability of goods is a pre- condition for Bai- Muajjal agreement. The responsibility of the bank is to purchase the desired goods at the disposal of the client to acquire ownership of the same before singing the Bai-Muajjal agreement with the client. IX. The Bank after purchase of good must bear the risk of goods until those are actually delivered to the client. X. The Bank must deliver the specified goods to client on the specified date and at specified place of delivery as per contract. XI. The Bank may sell the goods at one agreed price, which will include both the cost price and the profit. XII. The price once fixed as per agreement and deferred cannot be further in increased. Bai-Salam: Bai-Salam may be defined as a contract between a buyer and a seller under which the seller in advance in the certain commodity/products permissible under Islamic Shariah and the law of the land to the Buyer at an agreed price payable on execution of the said contract and the commodity products to the buyer at a future time in exchange of an advance price fully paid on the spot. Importance Features: Bai-salam is mode of investment allowed by Islamic Shariah in which commodity/product can be sold without having the said commodity (ies)/product(s) either in existence or physical/constructive possession of the seller. If the commodity /product are ready for sale, Bai-Salam is not allowed in Shariah. Then sale may be done either in Bai-Muajjal mode of investment. Generally, Industrial and agricultural products are purchased /sold in advance under Bai-Salam mode of investment to infuse finance so that product is not hindered due to shortage of fund/cash. I. It is permissible to obtain collateral security from the seller client to secure the investment from any hazards vis non-supply of supply of commodity (ies)/product, supply of low quality commodity (ies)/ product(s) etc. II. It is also permissible to obtain mortgage and /or personal guarantee from a third party as security before the signing of the agreement or at the time of signing the agreement. III. Bai-salam on a particular commodity (ies)/product(s) or on a product of a particular field or farm cannot be affected. IV. The seller (manufacture) client may be made agent of the bank to sell the goods delivered to the bank by him provided a separated agency agreement is excuted between the bank and the client (agent). B. Share mechanism: Mudaraba: It is a from partnership where one party provides the funds while the other provides the expertise, labor and necessary business activities. The first party is called the Sahib-al Mall and the letter referred to at the Mudarib. Any profits accrued are shared between the two parties on a pre- agreed basis, while capital loss in exclusively born by the partner providing the capital. Important features: i. Bank supplies capital as Sahib-Al-Mall and the client invest if in the business with his experience. ii. Administration and management is maintained by the client, iii. Profit is divided as per agreement. iv. Bank bears the actual loss alone, v. Client can not take another investment for that specific business without the permission of the Bank. Musharakah: The term â€Å"Shirkat† and Musharaka† have been derived from Arabic words â€Å"Shairkah† and â€Å"Sharika† The word shirkah means a partnership between more than one partner. Thus the word â€Å"Musharaka† and â€Å"Shirkat† means a partnership established between two or more partners for purpose of a commercial venture participated both in the capital and management where the profit may be shared between the partners as per agreed upon ratio and the loss. If any incurred, is to be borne by the partners at per capital/equity ratio. In this case of Investment, â€Å"Musharaka† meaning a partnership between the Bank and the Client for a particular business in which both the Bank and the Client provide capital at an agreed upon ratio and manage the business jointly. Share the rent as per agreed upon ratio and bear the loss, if any in proportion to their respective equity. Bank may move itself with the selected Client for conducting any Shariah permissible business under Musharaka mode. Important features: †¢ Bank and client both supply capital Unequally/equally †¢ Profit is divided as per agreement and actual loss is divided as per equity. †¢ Client will maintain all accounts properly bank or its agent may verify or audit it. †¢ Banks can advice the client in such a business in respect of the business. Investment client will normally run and manage the business. †¢ The Bank shall take part in the policy and decision making as well as overseeing (supervision and monitoring) the operations of the business of the Client. The Bank may appoint suitable personal(s) to run the manage the business and to maintain books of accounts of the business property. †¢ As the investment client shall manage the enterprise, the Bank ma y pay more share of profit to him than that of his proportionate capital contribution. Loss, if any, shall be shared on the basis of capital ratio. C. Hire Purchase under Shirkatul Melk: Hire Purchase under Shirkatul Melk is a Special type of contract that has been developed through practice. Actually, it is a synthesis of three contacts: i. Shirkat ii. Ijarah and iii. Sale These may be defined as follows: i) Shirkatul Melk: Shirkat means partnership. Shirkatul Melk means share in ownership. When two or more persons supply equity, purchase an asset, own the same jointly, and share the benefit as per agreement and bear the loss in proportion to their respective equity, the contract is calledShirkatul Melk contract. ii) Ijarah: The term Ijarah has been derived from the Arabic words (Air) and (Ujrat) which means consideration, return, wages or rent. This is really the exchange value or consideration, return, wages, rent of service f an asset. Ijarah has been defined as a contract between two parties, the Hiree and Hirer where the Hirer enjoys or reaps a specific service or benefit against a specified consideration or rent from the asset owned by the Hiree. It is a hire agreement under which the Hiree to a Hirer against fixed rent or rentals hires out a certain asset for a specified period. iii) Sale: This is a sale contract between a buyer and a seller under which the ownership of certain goods or asset is transferred by seller to the buyer against agreed upon price paid / to be paid by the buyer. Thus, in Hire purchase under Shirkatul Melk mode both the Bank and the Client supply equity in equal or unequal proportion for purchase of an asset like land, building, and machinery, transport etc. Purchase the asset with that quit money, own the same jointly, share the benefit as per agreement and bear the loss in proportion their respective equity. The share, part of portion of the asset owned by the bank is hired out to the client partner for a fixed rent per unit of time for a fixed period. Lastly the bank sells and transfers the ownership of its share/part/portion to the client against payment of price fixed for the either gradually part by part or in lump sum within the hire period or after expire of the hire agreement. 3. 5 Mode wise investment: 3. 5. 1 Mode wise investment performance: The mode wise investment performance of IBBL overall and the selected area is outlined below: (Fig. are in million) Modes |2005 |2006 |2007 |2008 |2009 |2010 | |Bai-Murabaha |23522. 92 |31138. 88 |41731. 48 |51822. 28 |59465. 08 |73833 | |HPSM |14131. 48 |18065. 10 |23344. 46 |30046. 89 |39399. 18 |50201 | | Bai-Muajjal |4965. 76 |5512. 13 |5735. 29 |5917. 18 |6921. 37 |6546 | |Purchase and Nego. 1865. 26 |1801. 33 |2416. 64 |3179. 81 |4846. 62 |11040 | |Quard-E-Hasana |1298. 19 |1765. 65 |1694. 32 |1966. 13 |1974. 20 |1955 | |Bai-Salam |40 7. 08 |610. 27 |807. 14 |641. 44 |905. 61 |1153 | |Mudaraba |52. 00 |103. 00 |102. 00 |50. 00 |50. 00 |50 | |Musharaka |37. 2 |12. 13 |27. 13 |20. 42 |12. 95 |143 | |Total |46279. 71 |59008. 49 |75858. 46 |94644. 15 |113575. 01 |144921 | 3. 5. 2 Percentage of the mode wise investment for the years: (In Tk %) |Modes |2005 |2006 |2007 |2008 |2009 |2010 |Mean | |Bai-Murabaha |50. 83 |52. 77 |55. 01 |55. 34 |52. 5 |50. 95 |52. 875 | |HPSM |30. 53 |30. 62 |30. 78 |32. 09 |34. 69 |34. 64 |32. 225 | |Bai-Muajjal |10. 73 |9. 34 |7. 56 |6. 32 |6. 09 |4. 52 |7. 4267 | |Purchase Nego. |4. 03 |3. 05 |3. 19 |3. 40 |4. 27 |7. 62 |4. 26 | |Quard-E-Hasana |2. 81 |2. 99 |2. 23 |2. 10 |1. 74 |1. 5 |2. 2033 | |Bai-Salam |. 88 |1. 04 |1. 06 |0. 68 |0. 80 |0. 79 |0. 875 | |Mudaraba |. 11 |. 17 |. 13 |0. 05 |0. 04 |0. 03 |0. 0883 | |Musharaka |. 08 |. 02 |. 04 |0. 02 |0. 01 |. 10 |0. 045 | 3. 5. 3 Division wise investment of IBBL for the years: (Amount in Tk) Division |2009 |2010 | |Dhaka |72637666426 |91473695824 | |Chittagong |19020120156 |25609818224 | |Khulna |8336566722 |12605186181 | |Rajshahi |10129510794 |11572609603 | |Barishal |990277259 |1077373472 | |Sylhet |2460929772 |2581926291 | |Total |113575071129 |144920609595 | 3. 5. 4 Mode wise investment performance of Mirpur Branch: (In Lac Tk) Modes |2007 |2008 |2009 |2010 |2008 (up to july 31 ) | |Bai-Murabaha |2551 |3432 |4521 |5072 |4815 | |HPSM |4821 |5906 |6627 |6531 |6155 | |Bai-Muajjal |243 |720 |857 |807 |797 | |QTDR |259 |139 |197 |211 |303 | |Musharaka |46 |00 |7 |7 |00 | |Baisalam |00 |78 |136 |133 |100 | |Others |94 |175 |337 |483 |499 | |Total |8014 |10450 |12682 |13244 |12669 | 3. 5. 5 Percentage of the mode wise investment of mirpur branch for the years: (In Tk %) |Modes |2007 |2008 |2009 |2010 |2008(up to july 31 )|Mean | |Bai-Murabaha |31. 83 |32. 84 |35. 65 |38. 30 |38. 00 |38. 54 | |HPSM |60. 16 |56. 52 |52. 26 |49. 31 |48. 58 |58. 22 | |Bai-Muajjal |3. 3 |6. 89 |6. 76 |6. 09 |6. 29 |6. 34 | |QTDR |3. 23 |1. 33 |1. 55 |1. 59 |2. 39 |2. 20 | |Musharaka |0. 57 |0. 00 |0. 06 |0. 05 |0. 00 |0. 15 | |Baisalam |0. 00 |0. 75 |1. 07 |1. 00 |0. 79 |0. 79 | |Others |1. 17 |1. 67 |2. 66 |3. 65 |3. 94 |2. 86 | 3. 5. Sector-wise investment performance of IBBL: (Amount in million Tk) |Year |Comm’l |Industrial |Agriculture |Real State |Transport |other |Total | |2005 |17534. 07 |19692. 68 |2350 |3581. 72 |1851. 32 |1270. 30 |46280. 61 | |2006 |20467. 76 |24480. 21 |2235. 29 |5204. 18 |2475. 11 |4144. 94 |59007. 49 | |2007 |26877. 02 |35593. 03 |3537. 17 |5785. 11 |2472. 46 |1593. 77 |75858. 56 | |2008 |29284. 21 |46063. 51 |6445. 67 |6813. 0 |2975. 12 |2061. 94 |93644. 15 | |2009 |28983. 80 |62642. 10 |5890 |8357. 80 |2722. 40 |4978. 97 |113575. 07 | |2010 |43877 |78788 |6485 |8588 |2656 |4527 |144921 | 3. 5. 7 Sector-wise investment performance of Pallabi Branch: Amount in Lac TK |Year |Comm’l |Industrial |Agriculture |Real State |Transport |Other | |2007 |2667 |1002 |000 |3404 398 |543 | |2008 |3520 |1790 |000 |4189 |393 |567 | |2009 |5385 |2582 |000 |3570 |376 |769 | |2010 |5132 |2591 |000 |4324 |401 |796 | |2008(up to july |4867 |2362 |000 |4196 |337 |907 | |31) | | | | | | | |Mean |4706. 4 |2253. 14 |0. 00 |4294. 47 |415. 64 |781. 53 | 3. 6 Sector wise Analysis: i) Analysis of investment under Commercial Sector: Graphical representation of investment under Commercial Sector is as follows: |Branch |2007 |2008 |2009 |2010 |2008 |Mean | |Mirpur |2667 |3520 |5385 |5132 |4867 |4269. 6 | From table and above graph we find that, the average investment in commercial sector is satisfactory. In 2006, 2007 total investment under commercial sector was too much favorable. It is so much good for the company. So overall the commercial investment of the bank is satisfactory. ii) Analysis of investment under Real Estate Sector: Graphical representation of investment under Real Estate Sector is as follows: |Branch |2007 |2008 |2009 |2010 |2008 |Mean | |Mirpur |3404 |4189 |3570 |4324 |4196 |4294. 47 | / From table and above graph we find that, the average investment under Real Estate Sector is Satisfactory.. It is so much good for the bank. So overall the Real Estate investment of the bank is satisfactory. iii) Analysis of investment under Transport Sector: Investment under Transport Sector is as follows: Branch |2007 |2008 |2009 |2010 |2008 |Mean | |Pallabi |398 |393 |376 |401 |337 |415. 64 | From table we find that, the average investment in transport sector is not satisfactory. It has declined in recent years. Where the attention is necessary by the bank. iv) Analysis of investment under Industrial Sector: Investment under the Sector is as follows: Industrial |Branch |2007 |2008 |2009 |2010 |2008 |Mean | |Pallabi |1002 |1790 |2582 |2591 |2362 |2253. 16 | From table we find that, the average investment in agricultural sector is increasing. In recent years the investment situation under this sector is satisfactory. v) Analysis of investment under Others Sector: Investment under Others Sector is as follows: |Branch |2007 |2008 |2009 |2010 |2008 |Mean | |Pallabi |543 |567 |769 |796 |907 |781. 53 | From table we find that, the average investment in others sector is the most satisfactory. The trend was then going to the upward since 2007. vi) Growth rate of total investment of Islami Bank Pallabi Branch: (Amount in â€Å"000†TK ) Branch |2007 |2008 |2009 |2010 |2008(Upto July 31) | |Pallabi |851900 |1149725 |1431864 |1532342 |1461006 | Growth rate of Total credit shows the positive or negative tendency of people to collect their fund from the respective institutions. The higher the growth rate of total credits the best for the organization and its profitability. From the table mentioned above it is found that, the highest growth rat e of total credit shows in 2008. It is so good for the organization. vii) Profit and Investment of several year of Pallabi Branch: Year |2007 |2008 |2009 |2010 |2008(upto july) | |Total Investment |851900 |1149725 |1431864 |1532342 |1461006 | |Investment Income |68058 |89288 |139411 |156624 |89834 | |Profit on IBG A/C |62187 |74987 |124616 |161790 |88554 | |Net Invst Income |130245 |164275 |264027 |318414 |178388 | viii) Profit and Investment Ratio: Total Profit received on Investment Profit and investment ratio = ————————————* 100 Total amount of investment Figures in 000 Tk |Branch |2007 |2008 |2009 |2010 |2008 |Mean | |Pallabi |15. 29 |14. 29 |18. 44 |20. 78 |9. 99 |17. 19 | Here in the above two graph we see that the profit and investment ratio of the IBBL is in average position. ix) Distribution of Investment by Sectors (Public Private): (M= Million Taka) |Year |IF |Public Sector |Private Sector |Total | | | |% |Amount |% |Amount | |2008 |71912 |5 |3596 |95 |68317 |71912 | |2009 |86295 |5 |4315 |95 |81980 |86295 | |2010 |103554 |5 |5178 |95 |98376 |103554 | That investment distribution in private and public sector both are more effective for any country. But the Islami bank distributes the maximum investment in private sector because it earned comparatively more profit from private sector. x) Distribution of Investments by Areas (Rural Urban): (Amount in Taka) Year |Rural |Urban |Total | | |% |Amount |% |Amount | | |2009 |8. 68 |9862235033 |91. 32 |103712836096 |113575071129 | |2010 |7. 86 |11386885036 | 92. 14 |133533724559 |144920609595 | From the above table it is found that Islami bank invested the maximum money in urban area. Because maximum entrepreneur and business man stay in urban place. However maximum organization established in urban area. i) Distribution of Investments by Areas (Rural Urban) of Pallabi Branch: Total investment of Pallabi branch is in Urban areas. There is no rural investment. xii) Distribution of Investments by sector(private public) of Pallabi Branch: Total investment of Pallabi branch is in private sector there is no public sector investment. xiii) Distribution of country wise Investments of IBBL: |Year |Within Bangladesh |Foreign country |Total | | |% |Amount |% |Amount | | |2009 |100 |113575071129 |0. 0 |0000 |113575071129 | |2010 |100 |144920609595 |0. 00 |0000 |144920609595 | 3. 7 1. 2. 3. 1. 2. 3. 4. 1. 2. 3. 4. 1. 2. 3. 4. 1. SPECIAL INVESTMENT SCHEMES OF IBBL: CHAPTER-4 SWOT Analysis †¢ Strength †¢ Weakness †¢ Opportunities â⠂¬ ¢ Threats 4. 1. 2. 1. CHAPTER-4 SWOT Analysis 4. 1 SWOT Analysis of IBBL: SWOT Analysis is used to evaluate the Strengths, Weaknesses, Opportunities, and Threats in a business. It is a methodology used to aid strategic planning that gained popularity during the 80’s. It involves specifying the objective of the business or project and identifying the internal and external factors. 4. 2 Strength: After analyzing the present market condition, IBBL got the following strengths, which will be favorable to us to launch our business. Honest and reliable employees: All of the employees of IBBL are honest and reliable. They are always devoted themselves to the works for better services. Better Quality of Services: The IBBL will run profitable business by providing first-rate banking services in a caring, upscale, professional environment. More funds for investment: For adequate financial ability they can provide loan to more investment clients. Appropriate Organizational Structure: IBBL has the appropriate organizational structure. Organizational structure will be developed by the local and foreign expertise. 4. 3 Weakness: The weaknesses of IBBL are as follows. Inaduquate Human Resource: IBBL does not have an adequate human resource management so that it has to encounter about their employees as well as recruitment. It does not develop HR department yet. So that it cannot properly train up to its employee and motivate its employees to give them reward. The ignorance of time value of money: According to Islami Shari’ah the interest should be prohibited. In another word Islami economy does not take the time value of money into consideration. So IBBL does not consider time value of money though our country does not follow Islami economy. Slow velocity of investment: The velocity of investment of IBBL is very slow compared to other banks. It takes in excess of time while investing in a project. 4. 4 Opportunities: Looking at current marketing environment, the following opportunities of IBBL are being visible. More Market Share: As Islami banking is a growing type of business in Bangladesh, IBBL has a great opportunity to capture a large amount of market share. Many Islami banks are turning their faces towards conventional banking to capture market share, but IBBL will not compromise with its quality. It will maintain strictly Islami Shari’ah and will provide the best service to its clients to capture market share. More Market Growth: IBBL has the better HR than any other banks in Bangladesh. Their strategy making and implementing will ensuring to achieve a large amount of market growth. 4. 5 Threats: The following factors may occur as unfavorable phenomena for IBBL. Threat of New Entrants: New entrants to an industry impose several threats to existing competitors. New competitors can reduce the market share of all participants by dividing the â€Å"pie† into more pieces. They also may bring new technology or greater resources not available to present competitors and achieve a high market share position quickly to the detriment of all existing participants. So if any new entrants will be big threat for IBBL. Preference Diversity: Client’s preferences can be the most acute threat to any company. It can change any times. If the consumers think that they should prefer any other services rather that for the ultimate comfort, it could be the worst danger to IBBL. Political Unrest: Now-a-days political unrest becomes common phenomenon in a nation as well as the whole world. World is place of intense political unrest. So, political unrest can be harmful for IBBL. Financial Risk: Financial risk is the part of every business. Banks can increase the interest rate; insurance company can demand more premium or competitor can offer services in lower price. Economic Change: Changes in economic circumstances can be harmful for the IBBL. Personal income, savings, employment, and price level trends can have dramatic effects on the attractiveness of a firm’s products or services in output markets not only final markets, but intermediate markets as well. CHAPTER-5 FINDINGS AND RECOMMENDATIONS †¢ Analysis of finding problem †¢ Recommendations †¢ Conclusion †¢ Bibliography CHAPTER-5 FINDINGS AND RECOMMENDATIONS 5. 1 Analysis of finding problem: I have identified some problems and limitations in Islami Bank Bangladesh Limited while working in Mirpur-10 branch. For these problems IBBL cannot provide best services to its customers as well as customers are not getting ultimate service from IBBL. These problems are given follows: ) Major Investment of IBBL is on commercial and Industrial sectors. ii) Minimum amount of investment is on agricultural sector. iii) IBBL always invest welfare oriented sectors. iv) Large portion of investment is invested by mode of Baimorabaha that is 53. 26%. v) Maximum am ount of investment is in Dhaka division. vi) Total investment of IBBL is increasing gradually. vii) No Islami money market is available. Easily money transaction is not possible without the Interest based banking system. viii) No Islami money market is available. Easily money transaction is not possible for the Interest based banking system. ix) IBBL cannot syndicate the other conventional banks. ) Lack of proper supervision. xi) Lack of stable economic condition. xii) Lack of skilled manpower. xiii) Inadequate legal framework. xiv) Unfavorable business environment. xv) Lack of opportunities for profitable investment. xvi) Political unrest. xvii) Customer service is not so much well. xviii) There is no sufficient and high bandwidth Internet connection available in the bank. So, bank cannot ensure better service for all Customers outward city. xix) Some few desks use obstacle instruments and take a huge time to accomplish a particular task. xx) It lacks workforce in general banking s ection. Employees are not that much motivated to work due to excessive workloads. xi) People still confuse IBBL’s products to conventional banks. For example, people frequently call Mudaraba Special Savings (Pension) Scheme or MSS as DPS like conventional banks. xxii) In a beginning and ending day of the week, the flow of customer is so high so at time handling of the customer is so difficult and that show the lack of professional image. xxiii) The decoration system of the bank is not a planned way and the floor, furniture, other materials are not cleaned in a right way and every time so the working condition is not comfortable. xxiv) Sunday and Thursday is very gathering in account opening, cheque issue, cheque received and pay order. xv) Some purpose they provide cash loan to the clients, for example Hire Purchase under Shirkatul Melk Real Estate 5. 2 Recommendations: Islami Bank Bangladesh Limited has achieved outstanding success during last twenty six years, but competiti on is being increased simultaneously. Lots of banks are being opened and many banks are opening Islami banking division. To survive as number one position IBBL has to do lots of things. Some of these are suggested below: 1. IBBL should increase investment in agricultural sector because Bangladesh is an agricultural country. 2. IBBL should increase their investment in public sector because their maximum investment is in private sector. 3. Bangladesh is rural base country, So IBBL should increase their investment in rural area. 4. Operational cost should be minimized. 5. IBBL should try to improve the deposit investment ratio for higher productivity. 6. To decentralize the decision-making authority of the bank. 7. Modern method should be introduced for increasing management information system and accounting information system. 8. IBBL is allowed to determine the rate of profit on deposits and advance. 9. The productivity of the bank may be raised by better funds management and portfolio management improving recycling of funds and developing other income from the business activities of the bank. 10. Purpose oriented training program. 11. Encouraging development of positive and cooperative relationship between management and trade union. 12. Better industrial relationships participatory decision-making etc, is needed to improve the high productivity for the bank. 13. They should improve their customer service. 14. The branch should introduce fully computerized system as soon as possible to reduce time, labor and cost. 15. A large office space should immediately be allocated for this branch. 16. To operate General Banking operations smoothly, some people should immediately be appointed. 17. A prime location should be selected and interior designer should be hired in decorating office. 18. Number of office assistants should be increased. 19. Employees should be smooth behave with customer basically in account opening and convince them. Some other suggestions may be in brief: ? Awareness programs can be arranged for the clients to have a clear view of IBBL products. ? Authorized employees should be monitored to be available at their located divisions ? Branches need to be 100% automated ? Online service should be every where ? Client selection should be cautious ? Overdue should be regularly monitored and minimized ? The information should be available about the investment products and their costs of fund ? Bank documents should be easy and clear to the clients 5. 3 Conclusion: Once upon a time, most of the people didn’t understand interest-free banking system. They never thought that it is possible to provide banking facilities without interest but in passage of time, now it is clear that in Islam there as a banking procedure though profit / less sharing basis. In course of time problems have reduced but not delaminated. This bank is trying to operate their activities according to Islami Shariah. If the Govt. becomes conscious to solve these problems and the banker become cordial and cooperative, the problems may be reduced to a greater extent The Gradual and successful globalization of Islami Banking coupled with growing awareness of the people about its financial and social benefits makes it clear that the next century is going to be the century of Islami Banking. It would be very difficult for them to survive as a number one position, if their service qualities remain constant. Big clients are switching to other bank for this reason bank is losing huge market share. They should pay more attention to big clients. It is also true that maintain Shari’ah and pay special attention to particular person is very difficult. Innovative product should be launched by Islami bank Bangladesh limited such as credit card, investment in education sector to cope with present situation. This project will help IBBL to get advantage over others. Special training should be given to employees to develop their behavior. 5. 4 Bibliography: ———————– CHAIRMAN VICE CHAIRMAN DIRECTORS EXECUTIVE PRESIDENT DEPUTY EXECUTIVE PRESIDENT EXECUTIVE VICE PRESIDENT SENIOR VICE PRESIDENTS VICE PRESIDENTS ASSISTANT VICE PRESIDENT Second Officer (Senior Principal Officer) Investment Department (Principal Officer) Foreign Exchange (Principal Officer) General Department (Principal Officer) Senior Officer Assistant Officer (Grade–II) Assistant Officer (Grade–I) Officer Senior Officer Officer Officer Probationary Officer Assistant Officer (Grade–II) Assistant Officer (Grade–I) Assistant Officer (Grade–II) Assistant Officer (Grade–I) Manager a) Bai-Murabaha b) Bai-Muajjal c) Bai-Salam d) Istishna’a a) Mudaraba b) Musharaka a) Hire Purchase b) Hire Purchase Under shirkatul Melk Bai- Mechanism Share Mechanism Ijara Mechanism How to cite Foreign Exchange of Ibbl, Essay examples

Anatoly Smeliansky Essay Example For Students

Anatoly Smeliansky Essay Anatoly Smeliansky spoke to the TCG conference on the theme The Russian Revolution in the Mirror of Russian Theatre, inspiring the listeners with his humorous anecdotes and startling insights. Smeliansky is the literary director of the Moscow Art Theatre, an international lecturer, and author of the acclaimed book Is Comrade Bulgakov Dead? (Routledge and Methuen) about the Stalin regimes repression of the great Russian author Mikhail Bulgakov. He is editor-in-chief of the first English-language edition of The Collected Works of Stanislavsky, which will be published in 10 volumes by Routledge beginning this year. His new book, Ordeals of Freedom: Russian Theater After Stalin, is scheduled to be published in English by Thames Hudson in 1995. The following series of excerpts from Smelianskys address reveals the charm and scope of his remarks at the conference. On seating: We discovered that in Stanislavskys time the Moscow Art Theatre ha very narrow seats, in which you are not very comfortable. The theatres not a place for sleeping. Its a place for seeing something, for thinking, for feeling, and you touch your neighbor. You have to touch your neighbor in the theatre, because for Russians theatre is the place for togetherness. Its the only place where you can meet each other, where you can express something, the last outlet for your social energy, your emotional life. On acting: The main idea of Stanislavsky was not how to act, but how to be a human being on the stage, how to save your soul on the stage. When he said his favorite phrase, I dont believe you, what did it mean? You didnt find a way to express yourself. You are not a human being on the stage. Why is it that in real life, you are so beautiful, so clever, so natural, organic, and so on, whe on the stage you are immediately inorganic, unnatural, narrow, stupid, artificial? On capitalism: Its a paradox of freedom. Why did the bloody Utopia inspire Russian artists, and why is freedom not so inspiring? Because capitalism is the most uninspiring thing in the world. Of course. Russian classics described it, but we didnt believe. On freedom: If you were a Soviet artist, what did you have? Great censorship. Great police intervention in your own private life. Oh, it was horrible. But from another side, Soviet artists had the attention of the State. I am a very important guy. Theyre interested in my fate. Theyre controlling my every step this super-country with millions of tanks and the biggest army in the world, theyre interested in my art. You understand? It was the great honor. Now nobody pays attention. On Stanislavskys death: He died in August of 1938 and the Soviet government organized the funeral. All representatives from all classesworkers, students, actors. Some of the actors from the Moscow Art Theatre, they made their farewel to the teacher. Some of thembecause the camera was there, and you know the actors mindthey were acting for the camera. Some of them played very badly with special artificial gestures, just to show how they were sorry about their teacher. I had a feeling when I saw this documentary in our archive that Stanislavsky would get up from the coffin and would say something like, I don believe you! On metaphor: Russian theatre lost its virginity, but its not the end of the life. Maybe its the beginning of a new one. How to behave in the new circumstances? What is the image of Russian theatre today? First of all, I should say, its the end of our metaphorical, political theatre. What was the Soviet super-theatre? It was their factory, the plant of metaphors, and in ever production there was some metaphor. We went to see the metaphor as we went to participate in a demonstration. In the darkness of the auditorium, we tried to express our social understanding, social thoughts and energy. .u897c800570a32dca567e478f64e448e7 , .u897c800570a32dca567e478f64e448e7 .postImageUrl , .u897c800570a32dca567e478f64e448e7 .centered-text-area { min-height: 80px; position: relative; } .u897c800570a32dca567e478f64e448e7 , .u897c800570a32dca567e478f64e448e7:hover , .u897c800570a32dca567e478f64e448e7:visited , .u897c800570a32dca567e478f64e448e7:active { border:0!important; } .u897c800570a32dca567e478f64e448e7 .clearfix:after { content: ""; display: table; clear: both; } .u897c800570a32dca567e478f64e448e7 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u897c800570a32dca567e478f64e448e7:active , .u897c800570a32dca567e478f64e448e7:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u897c800570a32dca567e478f64e448e7 .centered-text-area { width: 100%; position: relative ; } .u897c800570a32dca567e478f64e448e7 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u897c800570a32dca567e478f64e448e7 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u897c800570a32dca567e478f64e448e7 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u897c800570a32dca567e478f64e448e7:hover .ctaButton { background-color: #34495E!important; } .u897c800570a32dca567e478f64e448e7 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u897c800570a32dca567e478f64e448e7 .u897c800570a32dca567e478f64e448e7-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u897c800570a32dca567e478f64e448e7:after { content: ""; display: block; clear: both; } READ: Abe's global vision EssayOn Soviet theatre: In the Soviet time, theatre replaced everything. Theatre was for us the church, the family, the house, everything. This was the power of Soviet theatre. This was the phenomenon of Soviet theatresuper-theatre which had to express the soul of a nation. On teaching the next generation: What should we teach our students? We should influence them to love the theatre, first of all. Yes, of course. But we should also teach them to hate the theatre. Ninety-nine percent of the theatre is very bad, incredibly bad and harmful, and all of Stanislavskys ideas were produced from his hatred of bad theatre and bad acting. On theatre as a temple: In the beginning of the 20s, Stanislavsky launched a new studio in the Bolshoi. He was lecturing there, and some of his students mad a transcript and wrote down his beautiful phrase. Stanislavsky said, If the theatre were a temple, I would make the slogan under the temple in the theatre only four words: SIMPLER, HIGHER, LIGHTER and MORE JOYFUL. On Russian theatre today: Contemporary theatre in Russia is the one place where people feel safe, where people can meet each other, speak to each other, and its consolation for the soul. Every day, from our first news in the morningGood Morning America, Good Morning Russia they say Everything is horrible, horrible, horrible and horrible! Awful! Tomorrow will begin the civil war. You will be killed. You will be hungry. If you hear that every day from morning to night, what is your psychology? Theatre should not repeat such trash Life is life, and we are in the beginning of new life. We should pay for our freedom. On America: Ill tell you the big difference between Russian and American people. If you say to an American every morning, How are you? Fine, fine, great! Its a normal thing in the United States. Ask a Russian, How are you? Very bad. Incredibly bad! If you answer, Im fine, its very suspicious. Yo are a scoundrel because youre fine. Everybodys bad, but you are fine. Its different in the expectation.

My Contraband And Brothers By Alcott Essays - Ned, The Lucy Poems

My Contraband And Brothers By Alcott Of all the atrocities, man has endured; none has caused more misery and destruction to the soul than human bondage, also identified as slavery. It is illustrated in Louisa May Alcott's story: "My Contraband," originally published "The Brothers." The Civil War was fought over slavery. It pitted brother against brother, but this did not kill these brothers, it was the deep and festering hatred they had for each other that sent them to their early graves. The story these individuals create is complex and depressing; the main character, Robert is a contraband (a slave who has come to the North to seek freedom). Instead of finding freedom, he finds his half brother Ned and his wife Lucy. After the death of his master, Robert arrives from the South to freedom in the North to work in a hospital caring for wounded men of the war. His assignment is to help Miss Dane, a nurse, tend to a dying Rebel. Miss Dane appears to be the narrator in the story She is aware of Robert's troubled existence and observes despair from the moment their encounter. Upon their first meeting, she sensed sadness from deep within him she remarked, "I had seen colored people in what they call "the black sulks" when, for days, they neither smiled nor spoke, and scarcely ate. But, this was something more than that" (528). Miss Dane appears to be a compassionate person; nursing comes easy to her and she lacks intolerance regarding Robert's color. She had wanted"to know and comfort him; and following the impulse of the moment I went in and touched him on the shoulder"(529). This is an example of her compassionate view of the contraband. She believed that "black boys are far more faithful and handy than some of the white scamps" (528). Robert is content to stay with the rebel even though he has typhoid. When Miss Dane informs Robert that since he himself has never contracted this disease, he may become infected with it, he states, "It don't matter, Missis. I'd rather be up here with the fever than down with those niggers; and there isn't no other place for me." (530). For seven days, Miss Dane nursed the Rebel and for these seven days, he did regain consciousness. At times his presence could not be felt, until in his feverish state he begins to ramble on. At times his rambling would be incoherent other times she would be able to understand what he was saying. On this night the Doctor is skeptical about his survival he instructs her to "Give him water as long as he can drink, and if he drops into a natural sleep, it may save him...Nothing but sleep or a miracle will keep him now..." (531). At that moment the Rebel called out for "Lucy" (531). Miss Dane felt "some new terror seemed to have gifted him with momentary strength" (531). She went to his side exclaiming, "Yes, here's Lucy" (531) this agitated the Rebel even further. It was evident when "His dull eye fixed upon me, dilating with a bewildered look he broke out fiercely That's a lie she's dead, and so's Bob, damn him" (531). Miss Dane dozed off, she awoke with a shock as she sprang up she felt "A strong hand put me back into my seat and held me there" (532). It was Robert, he stood there his "eyes full of sombre fire;" (532). Miss Dane was confused and stunned by these events. Robert was calm and told her "Sit still, Missus; I won' hurt yer...but you waked up to soon (533). She "saw murder in his eyes" (533) and began to plead with Robert. She questioned him "Why do you hate him? He is not your master" (533). Robert's reply, "He's my brother" (533), astonished her. Even though she was trying to grasp this information, her mind was attempting to derive a plan to hang on to her life and the Rebels. Again, she pleaded with Robert only this time not for an explanation. She feared for her life and for the Rebels but seeing Roberts mind was full of revenge and hatred, she needed to know why. She pressed Robert further until he agreed; he had been waiting to kill the Rebel until he found out about Lucy. Miss Dane questioned, "Who's Lucy" (534), his reply "My wife- he took her" (534) only incited her curiosity further. She persuaded him to tell her his life. Ned is his half-brother

A Study On The Community Report Social Policy Essays

A Study On The Community Report Social Policy Essays A Study On The Community Report Social Policy Essay A Study On The Community Report Social Policy Essay The Community Report and profile given here is that of Bolton County in Lancashire within the ZIP code of BL3. The community statistics have been obtained from National Statistics Office and the profile drawn is that of Bolton that is marked as part 026D on the map. The Bolton vicinity has 1,570 occupants and Bolton local authorization has 262,300 occupants ( 2007 estimations, Census, NSO 2009 ) . The population statistics with male and female count harmonizing to latest studies show that the male members of the community are lower at 742 with higher figure of females within the vicinity. THE COMMUNITY Age: Sing the community profile the per centum of people in each age set in the vicinity is highest for the aged as persons above 65 old ages of age are the most common occupants in the vicinity with 24 % of persons above 65 old ages of age followed by kids below the age of 15 old ages who comprise of 21 % of the population. About 20 % of the population is in-between aged above 45 old ages and below 65 old ages ( NSO, 2009 ) . The high figure of aged occupants besides reflects on the societal attitudes and such a society is more likely to be spiritual, conservative and traditional. The demographics of the population is given in a graph below which shows that Bolton is chiefly an aged community that in bend reflects on the work civilization, employment rates and benefits claims which are discussed subsequently in this study. Apart from Age, race and wellness, lodging, environment and long term unwellnesss, this study besides focuses on employment and labor, benefits claim, offense rates and the physical environment including handiness of verdure and greenspace. Population information shows chiefly a white Christian predominant population and this would intend that the community may hold closed attitudes towards societal inclusion of other groups and races and bias could be really high. Race: The white population in Bolton is somewhat lower than the white population in the whole of England with higher population of Asia and Asiatic British communities in Bolton country. In fact 87.5 % persons are White as compared with 88.2 % white population in England. The minority assorted group every bit good as Blacks and Chinese or other race are really few in figure. This would likely necessitate more widely distributed accent and more non white persons could be encouraged to shack in Bolton and a societal inclusion programme could be implemented to increase the widely distributed population of the community. The Christian community is really strong in Bolton with 78 % Christians in the vicinity entirely and 74.6 % Christians in Bolton. Muslim population is higher than the national norm at 7.1 % and 10.8 % indicated that they had no faith ( NSO, 2009 ) . The Life anticipation of males at birth are lower than national norm at 75.5 % and life anticipation at birth for females is at 79.9 % , once more lower than that of England which is at 82 % . Concept of adult females below the age of 17 per 1000 is 47.2 and higher than the national norm of 41.7 which suggests that teenage construct and gestation could be one of the serious wellness issues for the county. Infant mortality or decease of babies under the age of 1 is 6.2 per 1000 in Bolton compared with the National norm of 5.1 deceases per 1000 kids. General wellness By general wellness the people were asked whether they suffered from restricting unwellnesss or had wellness jobs or disablements that would curtail day-to-day activities or work. The persons when asked to rate their wellness as good, just or non good, indicated the undermentioned consequences. The tabular array shows that with the BL3 vicinity community, wellness conditions are drastically hapless when compared with the national and 54.5 % claimed to hold good wellness when the national norm is at 68.8 % ( NSO, 2009 ) . Fair is besides higher at 27.4 % for persons within the vicinity although the Bolton council and national mean consequences on just wellness were the same at 22.2 % persons bespeaking that they have just wellness. Equally high as 18.2 % of persons in the vicinity has indicated a status of hapless or deteriorating wellness and this is dual the national norm as seen in the tabular array. This tabular array is important and suggests that the community wellness profile i s instead weak and the community suffers from poorer wellness installations or intervention and diagnosing so the general perceptual experience on wellness status is instead hapless and more negative than present in other counties. The tabular array is given below: Peoples s wellness and wellness perceptual experiences have a close relation with long term unwellnesss with really high proportions of restricting long term unwellness at 33.1 % . As indicated by persons in the vicinity and this is significantly high or about double when England s long term unwellness per centums are considered at 17.9 % . This is besides true for working age grownups with long term unwellness at 26.8 % ( NSO, 2009 ) . The statistics show the turning wellness concern in the part with long term and debilitating unwellnesss being significantly higher than in other counties. Poor wellness of community members in general and presence of long term unwellness in the working grownup particularly adversely affects the work civilization, productiveness, and the handiness of labor that in bend may be holding an impact on the economic system as they besides associated with employment rates. Long term unwellness The employment rates and labor markets are understood through the economic activity rates, through employment and unemployment rates and the economic activity and employment and unemployment rates of Bolton are about near to England s rates although may be somewhat lower, yet the labor and economic issues are clearly non major concerns every bit much as wellness and long term unwellness is. However as seen from the chart, the per centum of jobseeker allowance is higher than the national norm at 6 % for the vicinity although for England it is at 2 % . Working age benefits are at a really high 35 % with incapacity benefits at 21 % and both these figures are manner above the national norm which is 14 % and 7 % severally ( NSO, 2009 ) . This tabular array would propose how long term unwellness among working grownups being really high in Bolton has pressurized the benefits system with 35 % seeking working age benefits and 21 % seeking incapacity benefits ( NSO, 2009 ) . Although unemploym ent rates are non significantly high, the benefits claim being really high seems to bespeak a job with the economic system and the employment system or the handiness of appropriate occupations in the community. It is of import to acknowledge this spread between employment rates and benefits and it is besides of import to find how long term unwellnesss of working age grownups are making force per unit area on the employment system. The occupational informations for people in employment show that skilled trades business and simple business are highest in the vicinity and higher than the national norm. However professional businesss and director and senior degree functionaries are lower in figure when compared to the remainder of England proposing that high degree accomplishments possibly absent in the community bespeaking the demand for better chances for occupants and immature people to heighten their professional accomplishments and managerial degree experiences. Housing status The lodging status of the edifices of occupants follow the Decent Home Standard ( DHS ) each local authorization uses this to mensurate the general criterion of its brooding stock. ( National Statistics, 2009 ) The tabular array above shows that the homes of Bolton tend to follow the basic criterions for a Decent Home as when England s per centum of edifices below nice place criterion is 26.2 % , in Bolton all places maintain a basic criterion of brooding. The Bolton places besides have a 57 % energy efficiency evaluation. Equally far as recorded offense rates are concerned, force against a individual within a twelvemonth was at 3,985 with hurt count at 1,778. Larceny from motor vehicles was high at 3,220 and burglary in a home was at 2,143. Burglary from topographic points other than homes was at 1,830 and condemnable amendss were at a high of 5,941 ( NSO, 2009 ) . The tabular array of recorded offenses shows that offense rates are phenomenally high in Bolton with condemnable harm through incendiarism and force against individual incidences really high and larceny from a motor vehicle and burglary in or outside a home besides high. The physical environment is based on land already used for developments and domestic edifices comprise of 10.7 % of the physical environment and non domestic edifices are 3.3 % . However domestic gardens in the community vicinity are much higher in proportion than the national norm at above 30 % compared with the 4.3 % in England and 14.1 % in Bolton. However Greenspace is significantly low in the vicinity with 33.4 % of Greenspace compared with 63.3 % of Greenspace in Bolton and 87.5 % in England. This suggests that Greenspace and verdure will hold to be increased in the vicinity and besides in Bolton and as domestic gardens are found in high per centum, it may be possible to increase public verdure or public gardens and Parkss in Bolton and the vicinity. It is of import to increase the country of Greenspace in both the community vicinities where Greenspace is significantly low and in Bolton county itself. However the physical environment along with route installations is quite equa l and transport links are really superior in the Bolton country. However land available for development figures show that whereas 62,130 hectares of land are available throughout England, 22 hectares of land are available for usage in Bolton. NEEDS OF THE COMMUNITY Bradshaw s four types of basic demands of a community and Maslow s theory of demands hierarchy could supply the theoretical model for demands issues within a community and the informations obtained could be interpreted in conformity with these demands. Bradshaw provided a forced construct of demand and suggested that demands could be defined within sociological contexts and could therefore be normative that are specified by professionals as in instance of medical specialty or intervention in health care. Needs could associate to desires or wants as in felt demands, expressed demands are more vocalized on how people use services ( Bradshaw, 1972 ) and comparative demands show how demands originating in one state of affairs could hold similarities with people populating in another socio-demographic part with different set of features ( Bradshaw, 1994 ) . In the context of Bolton, some of the demands of the community could be better wellness attention installations, more commissariats to take up managerial and professional occupations and high employment rates and low offense rates. In fact unemployed young person attention deficit disorder to offense rates within a community and therefore felt demands of people in commanding offense would be most important along with the comparative demands of better employment chances and more managerial degree occupations that could heighten the socioeconomic degree of the community. Maslow s theory of hierarchy of demands suggest that persons are foremost concerned about safety, security followed by love, power, societal position and eventually necessitate to follow self realization ( Maslow, 1954 ) . Health needs in this instance could be considered as basic safety and security demands and should be of primary concern to any authorities. Decision In decision, several issues could be highlighted here and the community study file shows that wellness installations and intervention are one of the most important demands of the community that would travel a long manner in controling long term unwellness in the community and this would be followed by bettering the employment rate and commanding offense within the county. Mentions: Bradshaw J. 1972. A taxonomy of societal demand. In: Mclachlan G, editor. Problems and come on in medical attention: essays on current research. 7th series. Oxford, Nuffield Provincial Hospital Trust Bradshaw J. 1994. The contextualisation and measuring of demand: a societal policy position. In: Popay J and Williams G, editor. Researching the People s Health. London, Routledge Doyal L, Gough I. 1992. A theory of human demand. Hampshire and London, MacMillan Press Ltd DoH. 1992.The wellness of the state: a scheme for wellness in England. London, Department of Health Maslow, Abraham ( 1954 ) . Motivation and Personality. New York: Harpist NSO National Statistics Online ( 2009 ) Community Statistics for Bolton, BL3, accessed 2009

Corporate Finance Assignment Example | Topics and Well Written Essays - 500 words

Corporate Finance - Assignment Example Imagining we were able to tell the future, we could plot out when would be the best time to buy property based on the fact if the market was running high or low. If the market was running especially low, it would probably be a good time to buy in. One wants to buy in for a period of 18 months where it is mostly going to be seen as being low. This increases the chances that we, as the investor, would most likely be able to pick up a lot of properties using the $10,000,000-dollar cushion. Now, the reason that companies not doing so well is good for other types of businesses is simple. When stock values are low, it is a good time to buy into those stocks because when stock prices rise, they will be worth more in value. Similarly, if one buys a lot of properties, but perhaps let us say that they are not particularly worth much at the time they are bought-it is untowardly possible, albeit untowardly, that the properties bought may escalate in value. When and if that happens, the investor seeks to make a profit. While values are low in stocks and in real estate, this is the investor's dream. While he can buy stocks and real estate relatively cheaply, since many people are in a bad state of affairs financially, he will later reap the financial rewards of having taken advantage of the low prices. Investors will short stocks when [prices decline]."1 Obviously, for this particular project, we wou

Evaluation and critique Essay Example | Topics and Well Written Essays - 750 words

Evaluation and critique - Essay Example ecomes handy in facilitating the interaction the different variety are thus harnessed through multitasking; proving a significant advantage over them. As a result, what one may view as a shortcoming of someone in just focusing on one vent at a time may present a chance for collaborating different activities via multitasking (Davidson 26). Coupled with the other tips of how to maintain keeping attention for long stretches of time, multitasking provides a rational way of perceiving different activities thereby increasing the probability of success. This is achieved through the enhancement if the ability to unravel problems and other mishaps and at the same time propose amicable strategies that could result into their solutions. Attention that is multitasked is able to split every task in to various parts to other dedicated parts of the brain (Davidson 33). This in turn improves the capability to process the multiple events taking place at the same duration of time, thus overcoming attention blindness. Multitasking is very important in ensuring that a lot of information is registered by the brain especially during instances where there is limited timed framed and not a single event can be allocated its individual time for taking place. This helps to contend with the modern trend of information overload and put up with t he grueling fact that the digital instruments designed in this modern age are formatted in such a way that they do not have a center node that disseminates one piece of information so that people can only listen and focus their attention to one particular information stream (Davidson 42). Employing multitasking and collaboration in studies can be efficient in helping students share their opinions more conveniently. Multitasking and collaboration not only help students in sharing information but also but are also the perfect remedy for attention blindness. Collaboration focused on difference has the implication that problems with high level of

What Ministerial Ordination Means to Me Essay Example | Topics and Well Written Essays - 1000 words

What Ministerial Ordination Means to Me - Essay Example Everyone can access it but not everyone chooses to focus on it, or emphasizes it in daily living or honours it first. Being ordained means that I do. Those who do not understand have challenged me with the charge that being non-denominational means practicing a hodge podge of bits and pieces that do not come down from a direct scriptural lineage. In my ministry, I practice Integrated Energy Therapy (IET), which involves releasing the energy patterns from the past, which limit one’s capacity for power and joy. The outcome of this healing modality is that the person becomes empowered and balanced. In order to do this work, I too must allow any energy patterns from the past to be released, so that I too empowered and balanced. Only from this place can I help others. I make myself available for communication with angels. I make use of the violet energy ray, with the help of healing angels, to work directly with the client’s 12 strand DNA. ... Energy flows through me and is accepted by the client, applied to wherever it is needed. My intention is only to make my body and spirit available for this energy to flow through, without obstruction. Being ordained is a marking of this understanding that it is not me, not my agenda, not my power, but is universal energy moving though me. Being ordained is a declaration of availability. Being ordained means keeping myself in a positive energetic space, as much as possible, so that I can model and invite positive influence for the benefit of my clients. It means that I consistently think about what is good and beneficial, because the Law of Attraction teaches that like attracts like. Focusing on dark thoughts will invite darkness, but focusing on positive thoughts invites the Light. I have heard the opinion expressed that a minister is called by God, that being ordained is an affirmative reply to that call. To me, being ordained is a seal on my commitment to myself, the channeling of cosmic energy and to my community. It is a formal answer to the cosmic call I have heard with my deepest being. This call is an invitation to take on responsibility to organize my life ministry, to serve others, to provide an example of living in which every act is sacred. I am human and therefore I have ignorance, jealousy, vanity, insecurity, fear, greed, and other obstructions of the Light. How can I lead? I am, at the same time, blessed with compassion, empathy, an open heart, appreciation, the sight of miracles, and other gifts that promote contact with the Light. Through grace, I reach for Light, and I help others who long for it, as I do. But what is my tradition and what are its boundaries? Ordination means being connected to a

Impact of Organizational Culture on Strategic Advantage

Impact of Organizational Culture on Strategic Advantage Impact of Organizational Culture on the achievement of Strategic Advantages of ERP in Pakistan ABSTRACT This study looks at the relationship that organizational culture has with the achievement of Strategic advantages from implementing Enterprise Resource Planning (ERP) software. A sample of 30 organizations that implemented ERP was used to test the hypotheses. A competing values approach to measuring organizational culture was used to quantitatively measure an organizations culture profile. The results show that the organizations culture is significantly related to the achievement of strategic advantages from implementing ERP 1. Introduction This paper studies the relationship between Enterprise Resource Planning (ERP) and organizational Culture. ERP is buzz word now days with every company implementing from different models coined by different vendors in order to stay in the competition and to ensure that its operations are efficient and effective. Through ERP the organizations are able to achieve low costs of procurement, production, inventory distribution etc hence streamlines whole value chain that includes various primary secondary activities. These are pivotal in making any organization successful and taking it ahead of competition. Furthermore higher turnovers, reduced cycle times, inventory levels and financial operations can be given a face-lift to meet the challenges of the modern global recession the world is observing. ERP refer to the integrated way of carrying out all or major / core operations of the company. Organizations now regard ERP as a vital tool for the enhancement of their business operations by implementing most of its functions if not all of their processes under a single information system in an endeavor to benefit from the strategic advantages that ERP offers. Organizational culture is a vital notion in organizational analysis. In past few years, there has been a lot of focus on the development of organizational cultures that are conducive of achieving better results and higher performance motivational levels of the employees. Organizational culture can be described as an abstract composite of assumptions, values, and artifacts shared by its members [that] can be reliably represented by the valueswhich drive its members attitudes and activities (Howard, 1998, p. 234). The model proposed in this study advocates that there is an essential connection between an organizations culture and the achievement of strategic advantages from ERP. A Competing Values approach to measuring organizational culture is used to provide an empirical measure for an organizations culture (Quin and Spreitzer, 1991). The competing values approach provides a profile of four cultural archetypes occupied by a particular organization. These archetypes are group, hierar chical, developmental and rational cultures. The combination of the archetypes describes the organizations culture profile. The primary question this study attempts to answer is how does Organizational cultural profiles affects the achievement of strategic advantages of ERP. 2. Literature review: This segment will appraise the pertinent Literature touching ERP and Organizational Culture. 2.1 Enterprise Resource Planning (ERP) Enterprise Resource Planning (ERP) is relatively a new concept however now a days almost every organization ranging from small to large enterprise, devotes a major portion of its developmental budgets on the implementation of ERP software. ERP is not merely software but an approach of carrying out business operations in the modern times where technology plays a decisive role in making an organization a success story or failure. However An ERP software system can be described as a set of integrated business applications, or modules, to carry out most business functions, including inventory control, general ledger accounting, accounts payable, accounts receivable, material requirements planning, order management and human resources, among others. (Martin et al., 1999). ERP is a technique to bring all of an organizations data and IS /IT resources under a single Information system (Oliver, 1999). The author affirms that ERP systems evolved to help organizations manage their information t hrough-out the Company, from the plant to the back office, and or the front office. (Oliver, 1999, pg. 12). ERP intends to integrate its core if not all of an organizations processes under a single ERP system. The processes can be seen in terms of a value chain (Porter, 1985), which connects the suppliers to the organization to the customers. For example, imagine a system where the customer orders a product over the Internet (ecommerce). As soon as the customer places the order, it is automatically sent to the manufacturing department, while at the same time sent to the accounting department for billing- The use of materials by the manufacturing department depletes the stock, therefore a parts order is sent automatically to the supplier when reorder points are reached for replenishment of the stock. In traditional systems, time would be required for the sending of the messages between departments, for the reordering of the parts, and the billing of the customer. ERP intends to automate these systems to achieve a number of strategic advantages- Implementation of ERP software can allow an organization certain strategic advantages (Radding, 1999, Stein 1998). The literature tells us that organizations can benefit from greater flexibility, increased efficiency (Radding, 1999), improved communication, Lower operating costs, increased revenue (Oliver, 1999). Reduced cycle times, better collaboration and higher profit margins (Stein, 1998). These strategic advantages affect not only the organization, but can affect all members of an organizations value chain. ERP is a system that seeks to unite all of a value chains disparate processes. An organizations value chain represents all of the different processes that involve organizational resources and that are needed to support the organizations operations. Porter(1985) developed a model of an organizations value chain. This model of the value chain contains 9 processes; 5 primary processes, and 4 support processes. The organizations primary processes involve the production and delivery of the organizations products to the consumer (Bergeron, 1991). The processes involved in the primary activity are inbound logistics, operations, outbound logistics, marketing and sales, and customer service. The organizations secondary business processes represent the support processes for the primary activities and are, administrative coordination and support, human resource management, technology development, and procurement of resources. Implementation of ERP systems where carried a number of strategic nature of benefits, on the other hand it bears extreme risks. The growing numbers of Unsuccessful stories have compelled managers to take a deep look into the causes of it. ERP tries to push the logic that the system has which is conflicting with the Business. It may sometimes also lead to integration where decentralization fragmentation may best suite the organization. Furthermore, ERP may force the organization to go for generic processes than customization. Therefore ERP has to go along with technology and culture (Davenport, 1998). In contemporary organizations the data generation takes place at scattered places and the magnitude of the data is huge. Therefore a real time access to the data becomes imperative for the data in deal with such complex nature of information. ERP aligns all the information into various functions like finance, operations, sales, Customer relation etc subject to the nature of business an organization is into. Enterprise resource planning system (ERP), as a type III IS innovation, has strategic Significance for the organization due to their integration into the core business processes or strategies can directly impact the firms performance (Swanson 1994; Sambamurthy et al. 2003; Sample 1998). Consequently, many companies have started to develop strategy focusing on information technologies, with ERP adoption being a critical thrust (Bharadwaj 2000; Powell and Dent-Micallef 1997; Robey et al. 2002). on the other hand, whereas the firm is on the lookout for competitive advantages by adopting this sophisticated information system, the tangible experiences have reveal ambiguity – some organization are able to reap the true benefits of ERP whereas on the other hand majority of the firms face losses and failed to achieve the desired level of strategic and tactical benefits. (Scott and Vessey 2002). According to the survey conducted by Deloitte, the success rate of ERP implementation is le ss than 20%. Hence it is important for researcher to unlock the mystery of benefit realization in ERP adoption and theorize the important predictors effect on ERP implementation practice (Brown and Vessey 2003). Other than strategic benefit, ERP also contributes toward making an organizational structure more flatter flexible, enabling organization to streamline their management structures and more democratic organization. On the other hand it also involve the centralization of control over information and the standardization of processes, which are attributes more consistent with hierarchical command and control organization with uniform cultures (Davenport, 1998). 2.2 Organizational culture: Culture can be seen from a number of different levels. Of interest to business are the concepts of national culture and organizational culture. National culture is important due to a more global economy where communication technicalities have begun to evolve. It is also important to the study of information systems technology and management. For example, Watson et al. (1994) looked at national culture as king a dimension, in a study looking at Group Support Systems success. This experimental study involved looking at the differences between groups from the U.S. and Singapore. For the majority of the business Literature on culture the level of analysis has dropped to the organization. The importance of studying an organizations culture is, like ERP and BPR, a fairly new concept- An organizations culture can be defined by a number of constructs, such as the symbols, language, ideology, beliefs, rituals, and myths that affect an individuals behavior (Pettigrew, 1979). According to Pettigrew (1979), the culture constructs exist to provide some form of commitment to the established order. Hofstede et al. (1990) proposes a model of culture that is made up of values and practices. The practices reflect member beliefs about symbols, heroes and myths. In an exploratory analysis, Hofstede et aI. (1990) found three factors affecting the values, yet, the core of organizational culture was represented by six dimensions of organizational practices. The dimensions represent opposing ideologies as to what constitutes proper practices. Using the dimensions of organizational practices, Hofstede (1998) identified 3 distinct subcultures within 131 different work groups. The three subcultures represented include a professional subculture, an administrative subculture, and a cus tomer interface subculture. Quinn and Rohrbaugh (1983) developed a quantitative measure of organizational effectiveness, which was later successfully used to study organization culture (see Kalliath et al., 1999, Howard, 1998, Quinn and Spreitzer, 199 1, Zammuto and Krakower, 199 1, Yeung et al., 1991). Quinn and Rohrbaugh (1983) exploratory study revealed that organizational effectiveness cm be represented by three distinct dimensions, a focus dimension (internal vs. external point of view), a structure dimension (flexibility vs. control orientation) and a means vs. ends dimensions. The authors call the resulting approach the Competing Values Approach to measuring organizational culture. The model in figure 2 represents the competing values approach. In figure one, each quadrant represents an ideal type of culture. A particular organization need not be classified exclusively as having one type of culture, but can be considered as containing elements from the four culture types, yet one type may be dominant (Quinn and Spreitzer,1991, Cameron and Freeman, 1991, Yeung et al., 1991). Each culture type is measured using four items, which are aggregated to achieve a culture profile- The core values of the Group culture are belonging, trust and participation, which are motivated by factors of attachment, cohesiveness and membership (Denison and Spreitzer, 1991). Like the group culture, the developmental culture also emphasis flexibility but focuses its attention on the external environment. Productivity, performance, goal fulfillment and achievement are the important f actors for the rational culture. These cultures emphasize the pursuit and attainment of well-defined objectives. Finally, for the hierarchical culture, the focus is on the logic of the internal Organization and the emphasis is on stability- (Denison and Spreitzer, 1991, pg. 6) As the authors state, the motivating factors for this quadrant include security, order, rules, and regulations. A number of studies have been done, looking at and validating this framework. Quinn and Spreitzer (1991) performed a multitrait-multi-method analysis as well as multidimensional scaling on two competing values instruments (one using an ipsative scale measure, the other using a likert type scale measure), The authors found evidence for both convergent and discriminant validity. Zammuto and Krakower (1991) looked for relationships between culture and other organizational variables including, centralization, moral, administrator credibility, conflict, strategic orientation and culture strength- Authors state that evidence for construct validity exists due to the correlation of the competing values measure of cultur e and the other variables stated. Yeung et al. (1991) studied the competing values measure of culture in relation to organizational performance, culture strength and human resource practices- In a cluster analysis, the authors found that organizations from their study could be classified into 5 distinct culture types (or profiles). More recently, the competing values framework was again validated in two more studies (see Howard, 1998, Kalliath, 1999). The next section will look at some of the literature on assimilation and organizational culture change. Denison (1996) gave another perspective of culture by trying to research whether organizational culture and organizational climate were two different points of views or just a matter of perception. He further said that there are similarities differences at the time same time. Measurement of organizational culture is usually carried through qualitative analysis and deals with individuals set of beliefs, shared norms perception. Organizational climate on the other hand is measured through quantitative methods like questionnaire and print outs etc. Other factors also helped to differentiate these two topics in the literature. Culture researchers were more anxious with the progress of social systems over time (Mirvis Sales, 1990; Mohr, 1982; Pettigrew, 1979; Rohlen, 1974; Schein, 1985, 1990; Van Maanen, 1979), whereas climate researchers were generally less concerned with evolution but more concerned with the impact that organizational systems have on groups and individuals (Ekvall, 1987; Joyce Slocum, 1984; Koyes DeCotiis, 1991). The research also addressed to where does this organizational culture climate originates. Chatman (1989) says â€Å"In order for researchers to understand and predict behavior, they must consider both person and situation factors and how these factors interact. Even though organization researchers have developed interactional models, many have overemphasized either person or situation components and most have failed to consider the effects that persons have on situations. Using a Q-sort methodology, individual value profiles are compared to organizational value profiles to determine fit and to predict changes in values, norms, and behaviors†. By this we understand that both the organization individuals beliefs norms compliments each other and have an impact on over organizational environment which people and policies constitutes. Therefore the significance of any single factor can never be underestimated while evaluating the type of profile organization maintains in terms of its culture. Organizational effectiveness have long been a very vital area for the researchers to determine the causal relationship of organizational effectiveness higher level productivity with several variables. Among them organizational culture have well been under the consideration by the researchers. The increase in the research The intensification of research on organizational effectiveness has led to the formulation of theories about factors within an organization that can make a difference in performance. Organizational culture is one such variable that has received much attention in organizational behavior literature (Amsa 1986; Hofstede 1986; Hofstede, Neuijen, Ohayv and Sanders 1990; Jelinek, Smircich and Hirsch 1983; Kilman, Saxton and Serpa 1985; Ouchi 1981; Owens 1987; Schein 1990; Trice and Beyer 1984). This attention is mainly because researchers has postulated that cultural factors play a key role in determining levels of organizational outcomes. A common hypothesis about this r ole suggests that if an organization possesses strong culture by exhibiting a well-integrated and effective set of specific values, beliefs, and behavior patterns, then it will perform at a higher level of productivity (Dennison 1984). The development of theory to guide the definition of organizational culture, therefore, is of primary importance to improving organizational performance, espe- cially because the variables which comprise culture have been postulated to be under the control of organizational leaders (Deal and Kennedy 1982, Ouchi 1981, Owens 1987, Siepert and Likert 1973). Despite concern with achieving improved organizational productivity through fo- cusing on the development of cohesive organizational culture, determining the parameters of this construct has been problematic. The literature on organizational culture taps essential ideas, but the theory and technology to utilize the theory in improving organizations have remained fuzzy (Mackenzie 1986). As Trice and Be yer (1984) have argued, previous research on organizational culture has tended to focus on single, discrete elements of culture, while ignoring the multidimensional nature of culture, that is, a construct composed of several intimately interrelated variables (Schein 1990). Another problem has been that researchers are still not sure whether the association between culture and organizational performance reflects a cause-effect type of relationship (Saffold 1988). In fact, researchers have not really identified what specific variables comprise an effective organizational culture, nor have they provided convincing empirical evidence to suggest that if leaders in organizations increased the amount of time and quality of energy devoted to developing a particular type of organizational culture, then an organization would perform at a higher level of productivity (Barney 1986). There is presently little agreement, therefore, about what the concept of organizational culture means or how it should be observed and measured (Schein 1990). Because of the lack of agreement concerning theoretical formulations about organizational culture, its delineation, and its possible relationship to performance outcomes, no significant body of empirical research exists. Instead, researchers have primarily focused on defining and describing the variables of organizational culture and cautiously suggested a possible relationship between organizational culture and outcomes (Owens 1987). As Mackenzie (1986) argues, organizational culture as a concept may be a useful means of assessing the congruency of the organizations goals, strategies and task organization, and resulting outcomes. Without valid and reliable measures of the critical aspects of organizational culture, however, state- ments about its importance and effect on performance will continue to be based on speculation, personal observations, and case studies (Uttal 1983). As a consequence, management strategies and programs to cre ate organizational change through under- standing the organizations environment and strategically manipulating aspects of its culture will continue to be poorly focused and difficult to implement and evaluate.