Code Of Ethics And The Workplace - 1157 Words

There are countless rules that to restrain people have a better behavior wherever in personal life or the professional life. Because of those ethical rules, the society is getting organized. At the same time, people’s lives are so much safer and happier compares to the old time that with weak ethical rules. Rules must adhere to the society. â€Å"Ethics help us navigate the gray area between absolute right and morally wrong.† (Brandscaping) When people go to the bathroom, they need to wait in lines; when people go to take a bus, they need to line up and pay for it; when people go to buy food, they need to wait in lines; even when people shopping online, they need to follow instructions step by step. No matter in the reality or the internet, people need to observe rules. Rules help us to make right decisions when we get lost. They are everywhere that existing in all over the world and rules make the society better. Having a code of ethics leads to improved employee behavior, which is a huge part of culture for a standard company. Because employees are the people who create value for the company, in which way, they need to have honest and candid altitudes to the company. Having a code of ethic is a useful tool to manage an organization’s values, responsibilities, and ethical duties. Companies setting their core values and codes are never the same. Companies must put the code of conduct into the business so that employees know how it applies to them. The code is also a way forShow MoreRelatedCode Of Ethics And The Workplace2544 Words   |  11 PagesManagement is when someone controls or regulates entities including employees, customers and products. Good management requires identifying diversity in the workplace in order to have a healthy work environment. Bad management comes when the person does not care about their employees or acts on instinct rather than think decisions through a pr ocess. Proper management is necessary for growth of a business and helps organize things for time efficiency and gain positive outcomes. Management is essentialRead MoreThe Ethics And Code Of Workplace Practices1683 Words   |  7 Pagesgiving impression of adherence to and observation of environmentally sound principles (David and Santillo 2007) BACKGROUND Nikes company issues was transparent ,perceive and concise ,Nike came under severe criticism from media over the ethics and code of workplace practices ,this includes problems of child labors ,workmen ship unethical practices ,unsafe working conditions ,wage rate ,excessive overtime restrictions on organization and environmental impacts ,watching its reputation sullied by storiesRead MoreThe Moral Code: Ethics in the Workplace2027 Words   |  9 PagesThe Moral Code: Ethics in the Workplace Self expression is one of the countries founding principles as set forth in the Constitution of the United States. Amendment One of the Constitution states that Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances. (The Constitution, DecemberRead MoreEthic Situation in the Workplace: The ACAS 2009 Code of Practice 1804 Words   |  8 Pageswith the purpose of helping claimants avoid going to the ET , through promoting the settlements of disputes in a confidential, fast and cost-effective way. The ACAS 2009 Code of Practice 1 on DGP was designed to help employers, employees and their representatives deal with disciplinary and grievance situations in the workplace However should Elodie still decide to take her dispute to the ET she would need to be identified as a employee. The ERA defines an employee as being someone who hasRead MoreEthical Ethics Of An Ethical Corporation Is Not An Oxymoron1645 Words   |  7 Pagestowards ethics in today’s workplace is an important issue; recent headlines show consequences of unethical behavior on both companies and employees. Contained within the basic code of ethics in the workplace are words like, trustworthiness, respect, responsibility, fairness, (Chatov, 1980). Consider questions like, is it ethical to take office supplies from work for home use, or is it ethical to use company time for personal business? What is ethical behavior? The meaning of a code ethics in theRead MoreUnethical Behavior And Ethical Behavior1519 Words   |  7 Pagesand the behaviours that are permitted within it has is own code that can be translated through many professions. Unethical behaviours can destroy a workplace, from executives of companies embezzling money from the company for their own personal gain or an associate falsifying official documents in order to make a company seem more profitable, the break in morality can have a great impact on the corporation. By having a strict code of ethics implemented within the work environment, a company is moreRead MoreSocial Responsibility And Ethics Of An Organization Essay1265 Words   |  6 PagesSocial Responsibility and Ethics Social responsibility and ethics are a part of the rules and regulations that an organization must comply with in order to meet the moral standards. It is best to observe the standards of ethic and social responsibility in any type of management. An organization normally has policies already put in place that both the employee and proprietor has to follow. There is a procedure that is laid out from step one to the final step that will keep all involve safeRead MorePros And Cons Of Having A Professional Code Of Ethics1683 Words   |  7 PagesPros and Cons of Having a Professional Code of Ethics Introduction A professional code of ethics acts as a guide concerning ethical conduct in a given profession. However, over time, it has been termed as an impediment to intellectual and moral developments. This way or another, there are advantages as well as disadvantages that emanate from applying the professional code of ethics depending on the context of practices. For this reason, this paper discusses both sides: positive and negative effectsRead MoreA Brief Note On Ethics And Conduct And Behavior1089 Words   |  5 PagesEthics Research Report Student Name: Longfei Wang Student ID: 11529471 Executive Summary This report describe the two professional areas, they are Early Childhood and Public Relation (PR). In this two areas, this article illustrates the importance of three professional codes which are ethics, conduct and behavior. The report also reveal some ethical or unethical behaviors in the light of the two professional areas. Then the two professions will be compared in the codes ofRead MoreCareer Ethics : Professional Ethics1491 Words   |  6 PagesPROFESSIONAL ETHICS Professional ethics in aviation isn’t something that is thought about every day. Ethics affects all of us and the choices that we make. Ethics in our careers and even in our personal lives depends on you to make better choices by considering the rights and well-being of others you work with and live with that may be affected by our decisions. From time to time people do the wrong thing, it’s our human nature to commit a mistake. Some mistakes are unintentional but human error

Information Technology Report Singapore As A World Leader

The [Singaporean] government has frequently referred to Singapore s population as its only natural resource and described education in the vocabulary of resource development† (Lepoer, 1989). The Global Information Technology Report has Singapore as a world leader in the quality of their education as well as Internet access provided to their schools (Dutta, Geiger, Lanvin, 2015). Singapore has accomplished this by having meticulous outlines on what the public school system looks to accomplish as well as having an eye toward the future. While strict government laws and policies work to enhance the quality of education, they also limit many rights associated with freedoms of speech and expression. Quality of Education System Desired Outcomes of Education The Ministry of Education developed an outline for the purpose of public education. They termed it the Desired Outcomes of Education or DOE (Ministry of Education, 2015 April). This outline defines four attributes that every student should have upon graduation, they should be: â€Å"A confident person, a self-directed learner, an active contributor, and a concerned citizen† (MOE, 2015 April). If the key stages of the DOE are followed a student should graduate with a good sense of self-awareness, a sound moral compass, and the necessary skills and knowledge to take on the challenges of the future† (MOE, 2015 April). Compulsory Education Act The Compulsory Education Act was brought into law October 9th, 2000 (MOE, 2015 July). ItShow MoreRelatedThe Execution Of A New Strategy1377 Words   |  6 PagesJordan, an expansion synchronization team was set up in the governmental bureau that collected information from each of the government directorates within the kingdom s Education Ministry to oversee the implementation of diverse programs connected to the education transformation that included the ICT Plan that the government wished to develop (Ministry of Economics, 2008). In Singapore, the Educational Technology Division teamed up with divisions within the government s education ministry in such activitiesRead MoreSingapore Airlines, Case Study1498 Words   |  6 Pagesfor 30% (15% per test). A CASE STUDY OF SINGAPORE AIRLINES EXECUTIVE SUMMARY As a former British Colony that gained full independence in 1965, Singapore was essentially forced to make do with its limited resources. This developed into a national obsession with achieving excellence without compromise and has been responsible for its many successes. This attitude of control and determination was critical in the creation of the culture within Singapore Airlines (SIA). From the first unveilingRead MoreMobile Usage And Social Media1650 Words   |  7 PagesIn modern society, the relationship between globalization and social media and smartphones is involved with the daily life of people around the world. The use of mobile systems dramatically increased in the 20th century. (Mjos, 2012) This essay will explain the differences and similarities of mobile usages and use of social media between British society and that in my home, Thailand. There are various causes to employ electronic devices and social media, some of which were the same and some differentRead MoreWhat Is The Overview Of The Singapore Airlines Case Study900 Words   |  4 Pagesoverview of the Singapore Airlines case study demonstrates that airlines is identified as one of the successful carriers. It is known as the most profitable airline company in the world (Airline Industry Profile, 2016). The Singapore Airlines strategy to reorganization of the company’s infrastructure and the incorporation of the new services targeting on the satisfaction of the customer services, moved the company to the leading place among the airlines services. The analysis of the Singapore Airlines caseRead MoreDigi1251 Words   |  6 Pagesdecided to turn to the CRM experts at iZeno and SugarCRM ®. If there is one defining story in the technology world today, it is most likely the explosive growth of mobile communications. It is well known that there are more mobile handsets than personal computers and that each of them has more computing power than the NASA computers that placed a man on the moon. This trend is connecting people all across the world and acting as a great leveler as people are able to communicate and collaborate more seamlesslyRead MoreEssay about Why the Rich are Getting Richer and the Poor, Poorer1558 Words   |  7 PagesThe report of Robert Reich: â€Å"Why the Rich are getting Richer and the Poor, Poorer,† is an eye opener and a warning for soci ety regarding unemployment that it will be facing and is currently facing due to a lack of technology and education. It clearly articulates that the jobs of routine producers and in-person servers have vanished totally as modern techniques have replaced them. The author has stated that the only people whose jobs are on the rise are symbol analysts. As stated in the report, symbolRead MoreGoogle - PESTEL Porters Five Forces Analysis2373 Words   |  10 Pages3.5 Industry Rivalry 4. Conclusion Recommendations 5. References 1.0 Introduction Google Inc, a global technology company, founded in 1998 by Larry Page and Sergey Brin, is the most popular search engine in the world. Google provides numerous free services and products such as Google search, YouTube, Google Maps, and has transformed how people use and share information. Google’s business spans from advertising, data analytics, operating systems to technologically advanced devices suchRead MoreGlobal Biotech Firms Look East For New Markets1293 Words   |  6 PagesGlobal Biotech Firms Look East for New Markets JLL’s 2015 Life Sciences Outlook Report identifies top global destinations for talent, sales, science and the trends driving international growth CHICAGO, August X, 2015 – The growing economies of Asia, Central and South America are providing fertile ground for middle-market pharmaceutical and biotechnology corporate growth. While multinationals fill their innovation pipelines in North America, branded and generic producers alike are expanding theirRead MoreAsian Rim Region Report : Geography And Demography1010 Words   |  5 PagesPacific Rim Region Report Geography and Demography Pacific Rim is a geographical vocabulary, refers to the lands around the rim of the Pacific Ocean. The Pacific Basin includes the Pacific Rim and the islands in the Pacific Ocean.(Wojtan, Linda S.) The Pacific Rim roughly overlaps with the geologic Pacific Ring of Fire. This region report is focusing on the East Asia, and Southeast Asia, or Asian Pacific. East Asia can be defined either in geographical and cultural. Geographically, it covers aboutRead MoreIdentification and Description of Singapore Airlines Processes1636 Words   |  7 PagesSINGAPORE AIRLINES Identification and Description of SIAs Processes The major processes of Singapore International Airlines consist of cabin service, flight operations, commercial marketing, information technology, engineering, security, and airport services and training. Excellent cabin service includes greeting passengers upon entering the cabin and directing them to their seats, providing them with information about the services and treating them with hospitality and courtesy. Flight operations

The Sports Marketing Free Essays

The sports marketing literature suggests that consumers of sport have unique relationships with their favourite teams. The high level of support from fans, team identification and emotional attachment towards sport clubs have often been associated with the term ‘Engagement’. Highly engaged fans are likely to develop behaviours such as positive word of mouth, displays of supporting the sport, consumer to consumer interactions and reading information about the team online, or in newspapers and books. We will write a custom essay sample on The Sports Marketing or any similar topic only for you Order Now Football fans today are often not satisfied with just watching games, the fans want to be fully involved in the content. For football marketing, this ends up taking the fans that extra mile, this may include behind-the-scene experience or helping fans get to know the players. The aim for this report is to give the football community a better understanding on how football clubs can better engage with their fans. This will include different engagement techniques such as Giving your fans a voice, getting fans involved while they are young, knowing your target and recognizing loyalty and how to engage year-round. Give your fans a voice: Every club should give their fans a voice, this isn’t only helping the club engage with their fans better, but it is allowing the club to get a direct insight into what the fans want, pay attention to their thoughts, trending ideas, questions and reactions. This is not only important for the club, but it is important for the fans as well as they want to feel part of the club and want their thoughts to be heard or applied within the club. Fan councils have helped a number of clubs connect with their fans. Teams are now able to use insights directly from fans to drive season ticket sales, sponsorships, marketing investments and brand engagement. In 2013 Media post conducted a survey with 1000 randomly selected adults. The results found were that fans do not feel that their opinions are being heard by their club. In fact, only 45% of fans agreed that their club was actually interested in hearing their opinions. Even worse, only 33% of fans said that they actually listen to their feedback. These findings show what major gap in how fans are currently being engaged with. However a stat that was very surprising was 30% of the fans switched their favourite team in the past year and 22% of fans reported that they would consider switching teams next year as they feel they have no say in their club and they don’t feel apart of the club they are supporting. According to Media Post, the 7 key reasons a club should give their fans a voice are: Fans are cheering for more than a team’s performance Fans want to be engaged throughout the year Fans are willing to switch favourite teams, and there are still â€Å"floaters† to attract Teams can optimize marketing investments There is an opportunity to provide added value and deepen relationships with sponsors and advertisers Listening to fans enables teams to measure and increase brand value Fan engagement drives the season ticket sales funnel Get the fans involved while they are young: To be a successful club and to have high quality fan engagement you would have to get the fans involved while they are young. This is important as no other experience can replicate the connection that a young boy or girl form with a club. This is a big thing because when you engage with a young fan they will remember the moment for most of their life. This is a big part in their life as when they share the moment they had with their friends or family, or even with their own children one day. Engaging with a young child would be beneficial for the club as many young fans have a hunger for knowledge and experiences, they are still trying to figure out their course. Helping to piece together a roadmap that may even lead to a life in professional sports can go a long way. Teams can also offer fans more opportunities to gather together. These events stir up civil pride, build excitement and may also sell a few more tickets to the games. The natural inclination to gather, can deliver a massive leap towards a relationship with young fans. Younger fans ask questions of players and executives at fan events, it doesn’t take long before you hear a variation of, â€Å"How do I follow in your footsteps?† Creating a meaningful connection with young people isn’t just about what’s on their screen, its about the experiences and the knowledge they can get from the experiences. Don Sabo, a youth-sports researcher and professor at D’Youville College in Buffalo, found that 61% of boys and 34% of girls across all grades say that sports are a large part of who they are. This statistic is very important as it shows how important sport is to children. This is useful as it shows how important sport is for them, this is useful for clubs as it would show them how they should start engaging while they are young, as this is when most of the children want to care and want to learn about sport. Know your Audience and recognise loyalty:As a soccer club you’ve got to recognize each fan, and be able to tell them apart, you also need to reward them and record each of their fan interactions. This is a big part while engaging with your fans as they don’t just want to be called fans and treated the same as everyone fan. They want to feel special and this is one way which you could make them feel that way. By recognizing your fans and rewarding them, this would give them more motivation to come out and support the team, this would also help as you are engaging with your fans and it could get more fans to come along as they feel like the club is more of a family then a club. Some clubs have already taken this into account and thought of ways to better involve their fans. The Seattle Sounders have implemented a loyalty program called Match pass, and they have said that this strengthens their relationship and create a lifelong brand champion. This allows the season ticket holder to get a lot back from their club. The match pass includes watching the last 20 minutes of the match from the side of the pitch, sitting in the broadcast booth and watching the game with the broadcasters and being a part of the starting XI team photo. This is a simple way to get your fans involved with the club as it isn’t costing the club any extra money and it rewards the fans with experiences money can’t buy. To make this an effective engagement strategy the team would be required to put in some extra work and may be required to develop deeper understanding of the fans. Sites such as Dugout are dedicated to behind-the-scenes footage and exclusive content. Teams such as Arsenal, Barcelona and Bayern Munich, amongst others have got involved with Dugout. This includes player or team challenges and allows the users to access the content before it appears anywhere else. Engage year round: Football clubs should engage with their fans all year round, as engaging with your fans shouldn’t start when the season starts. Clubs should engage all year round while the season is over the fans might feel like they aren’t involved with the club and the club doesn’t care about their supporters. By engaging all throughout the off season this will help the fan feel more apart of the club and may even call the club their second family. The football club should always look for ways to improve the fans experience. If you go to a game, giant screens around the ground to give you a better glimpse of the on-field action. This also helps the fan miss none of the game as if they leave their seats to go to the cafeteria they could watch the giant screen and miss none of the action. Providing Wi-Fi access to the fans also helps as it gives fans a way to communicate and feel more part of the game. Many fans follow their team throughout the entire annual cycle. From preseason through the trade deadline, and even during the offseason. There are still times in the season that marketing can target can target to get their fans involved with the team and the brand. Even though the team may not be playing. Realistically sports teams won’t be able to keep fans engaged year-round, but by listening to your fans and hearing what the fans are looking for at certain time of the year, teams can enhance what they offer and how they can engage in different ways. Conclusion: Football clubs need to consider the fans and make more interesting and exciting ways to engage with their fans. This is important as football isn’t just about watching the game, it is about the fans as well. If there weren’t any fans purchasing merchandise, memberships or the clubs stadium isn’t even getting filled if this continues to happen then more clubs would have to file for bankruptcy. Plenty of clubs have become bankrupt some of these include Parma, Chelsea, Leeds and Portsmouth. To keep clubs going and the fans happy to invest their money into the club there needs to be better fan engagement strategies introduced such as getting direct insight into what the fans want, by getting the fans involved while they are young, recognizing each fan and rewarding them for their fan interactions. How to cite The Sports Marketing, Papers

Financial Markets Of Abu Dhabi Islamic Bank †MyAssignmenthelp.com

Question: Discuss about the Financial Markets Of Abu Dhabi Islamic Bank. Answer: Introduction Abu Dhabi Islamic Bank established in 20 May 1997 is listed as a Public Joint Stock Company through Amiri Decree No. 9 of 1997. The formal initiation of the commercial operations of the bank started in 11 November 1998. These operations of the bank are discerned with paid-up capital of one billion dirhams and further segregated into one hundred million shares. The value of the individual shares of the company is observed with the shares quoted as per Abu Dhabi Securities Market (Adib.ae, 2018). Products and services offered by ADIB The corporate banking services of the company is seen to offer different Islamic Banking solutions such as Murabaha, Istisnaa, Ijara, the drawings covered by Islamic regulations and different types of other Sharia compliant products (Adib.ae, 2018). The corporate banking solutions also includes diversified private sector base of Trading, Transportation, real estate and target market of the bank. The wealth management experts of the bank include insightful decisions for the savings and decisions on select asset classes based on diverse investment themes such as oil, gold and group of equities. The bank offers capital protection plan and recommendations to the investors of different time horizons (Adib.ae, 2018). Differentiated banking mechanism than the conventional banks Type of Loan Islamic Process Conventional Bank Process CarFinance This process of ADIB is seen to follow Islamic financing structure which requires the intermediaries to buy the property with free and clear title as per Murabaha mechanism. In case an individual applies for an auto loan under this process, the loan will be non-interest bearing in nature which is considered to be free from any riba (or excess). The bank will buy the automobile from a client for a predetermined profit over the cost item and sells it back to the client based on instalments. Due to this the bank charges a set fees rather than riba or interest. The entire process is followed in two stages. In this case, the purchaser becomes the owner of the commodity and becomes liable for its full price (Cost plus profit). An eligible applicant must be 21 years and must have a minimum salary of AED 5000. The length of the confirmed service also needs to be at least 6 months. The important documents needed includes ?Original and copy of valid passport (with valid residence visa for expa triates), original and copy of valid Emirates ID and statement of account for the last 3 months. In addition to this, the bank offers a repayment option of up to 60 months, free ADIB VISA Cashback Card for the first year and 20% down payment option. In order to apply for the Murabaha, murabaha letter of credit is issued for a beneficiary on behalf of the applicant (Adib.ae, 2018). The bank agrees to the issuing the letter of credit and then agrees to the payment of the amount which follows terms described in the letter of credit. In case of the murabaha agreement ADIB is discerned to sell the contract (Chelhi et al., 2017). The important difference in the conventional loan process is seen in terms of the contract structure. Murabaha is recognized as a sale contract, the conventional loan process on the other hand is based on interest based lending agreement and transaction (Majd Bakir, 2014). The conventional process of banking is based on credit score, ratio of debt to income, size of the loan and the down payment. The subject matter in the conventional banking is considered with the amount of money while the Murabaha takes into account the commodity aspect. The collateral is put up before processing of the loan for conventional loan. The collateral in Murabaha may be posted after purchasing of the commodity. The cost transparency is not a concern in case of a conventional loan (DMV.ORG, 2018). In the conventional banking system, the bank is considered to sell the product for profit which discloses both the original cost and the profit to the buyer. The advancing loans and credit interest is charged on the interest as per the pure interest based transactions. Home Finance This process has discussed on benefit of home financing through Istisna. Based on this contract the client will ask the bank for construction of the unit. This will be able to meet the different types of the specifications given by the bank to meet the desire of the client. The client will then pay the price in instalments. In this case the borrower needs to provide a Valid salary certificate, income verification, Passport copy along with valid resident visa for expats, Khulaset Al Kaid and Bank Statement. The minimum salary requirement for the applicant is identified with AED 10,000 for UAE Nationals and AED 15,000 for Expats. The age criteria requirement is discerned to be 21 years. Some of the other document required is considered with ? Verified employment, Valid for UAE nationals residents and Joint applications accepted. The bank provides financing of up to AED 20 million for UAE Nationals AED 15 Million for expatriates? this process is based on Istisna. In addition to this it provides Financing of up to 80% of property value and partial settlement of 30% outstanding annually (Adib.ae, 2018). A conventional home loan applicant needs to present proof of income, identity and residence. The borrowing limit will be based on the individuals income and interest rate will be charged as per the total amount loan borrowed. The conventional borrowing will include tax concessions based on IT returns. The conventional loan will also include the option for instalment payment however, the borrower does not need to produce Istisna letter of credit is issued for a beneficiary on behalf of the applicant and Khulaset Al Kaid (Majd Bakir, 2014). Boat Finance The financing of boat is considered to be most ideal with the application of Ijara Finance. This lease contract allows leasing and using the asset for a specific period after it is fully owned. The company provides the financing option amount up to AED 1 million. The eligible applicant needs to have a minimum salary of AED 8000, 21 years old and 6 months of confirmed service (Adib.ae, 2018). The boat loan needs to be approved and signed with necessary documents for loan. In conventional banking the applicant is not guaranteed of the full ownership of the asset. The conventional banks do not allow cash out refinancing, except for non-conforming loan program. The applicant needs to fill Boat Loan Application Form. This includes details such as Current Income and Current Loan Payments. The boat information further includes Manufacturer, Model year and purchase price. Travel Finance The process of travel finance is considered to be applicable with Mudarabah mechanism. The commercial sectors will be able to provide the provide the finance for customers with required expertise. The restricted Mudarabah will ensure capital provider imposes certain conditions on the entrepreneurs for securing the capital. ADIB is able to provide Finance amount up to AED 250,000 and charging 1% Processing Fees (Min AED 500 and Max AED 2,500) (Adib.ae, 2018). The individuals have the option to exercise the best loan policy as per the type of travel loan applied for. The documents required includes Address proof, Identity proof and Passport size photograph (DMV.ORG, 2018). Personal Finance The process of ADIB is depicted with Qard al-hasan, which is an interest-free loan (fungible, marketable wealth). This is considered to be extended by the borrower based on benevolence. This is seen as a gratuitous loan extension to needy people for a specified period of time. The bank provides First instalment payment grace period up to 90 days, Two free instalments postponements every year and Takaful cover protection with competitive rates?. The individual must have a minimum salary of AED 8000 per month and UAE or expatriate with a minimum age of 21 years (Adib.ae, 2018). . The conventional banking process involves interest on the amount of loan lent by the borrower. The documents requirement includes bank statements, credit card information and loans records (Majd Bakir, 2014). Debt Settlement The "Musharkah Financing"ideal as the client will be able to request for finance by anticipating the banks shares anticipated with profits and losses of the project as per the client. The borrower needs to present liability certificate, bank account statement for the last 3 months and original valid emirates ID (Adib.ae, 2018). Conventional banks offer debt consolidation loans which requires the borrower to pay the applicable rate of interest based on amount of loan borrowed. The document requirement includes bank statements, credit card information and loans records (DMV.ORG, 2018). Conclusion The significant discussion of the study is able to identify the different types the products and services offered by ADIB offered in general. In addition to this, the learnings of the discourse have taken into consideration the import differences pertaining to the Islamic Banking Process and Conventional Bank Process. The important characteristics in the Islamic Banking Process has discussed on the Islamic financing structure followed by ADIB which requires the intermediaries to buy the property with free and clear title. The entire process is explained with the intention of borrowing a loan for automobile. The bank will buy the automobile from a client for a predetermined profit over the cost item and sells it back to the client based on instalments. Due to this the bank charges a set fees rather than riba or interest. The entire process is followed in two stages. In the first stage the bank purchases the commodity which the client is willing to sell. This stage is followed by clien t agreeing to the payment schedule for the repurchasing of the goods. References Abu Dhabi Islamic Bank Corporate Banking. (2018).Adib.ae. Retrieved 5 February 2018, from https://www.adib.ae/en/m/Pages/corporate_banking.aspx ADIB | ADIB Car Finance in UAE | Abu Dhabi Islamic Bank. (2018).Adib.ae. Retrieved 5 February 2018, from https://www.adib.ae/en/personal/financing/car-finance ADIB | Telephone Banking | ADIB Services | Personal Banking. (2018).Adib.ae. Retrieved 5 February 2018, from https://www.adib.ae/en/pages/personal_services_telephone_banking.aspx ADIB | Wealth Management | ADIB Structured Products. (2018).Adib.ae. Retrieved 5 February 2018, from https://www.adib.ae/en/Pages/personal_wealth_management_structured_product.aspx Chelhi, K., El Hachloufi, M., Aboulethar, M., Eddaoui, A. and Marzak, A., 2017. Estimation of Murabaha Margin.Journal of Applied Finance and Banking,7(5), p.49. DMV.ORG. (2018).Understanding Car Financing | DMV.ORG. [online] Available at: https://www.dmv.org/how-to-guides/auto-financing.php [Accessed 5 Feb. 2018]. Majd Bakir, m. (2014).Islamic Finance | What Is the Difference Between Murabaha and Conventional Loan?.Financialencyclopedia.net. Retrieved 5 February 2018, from https://www.financialencyclopedia.net/islamic-finance/questions/what-is-the-difference-between-murabaha-and-conventional-loan.html Understanding Car Financing | DMV.ORG. (2018).DMV.ORG. Retrieved 5 February 2018, from https://www.dmv.org/how-to-guides/auto-financing.php

Graphology The Investigation of Handwriting Essay Example

Graphology: The Investigation of Handwriting Paper GRAPHOLOGY THE INVESTIGATION OF HANDWRITING Background Graphology is the investigation of handwriting. The investigation, in many instances, is intended as an analyzing of a person’s writing with the goal to provide a behavioral profile. Graphology can be used as a test, to prove a theory, or as a preliminary method for personnel placement in many organizations (personality profile). Graphology was considered to be a controversial method of personality evaluation for more than a century. Psychologist who supported graphology in the medical field as a method to diagnose and track diseases of the brain and nervous system as a way to gain information about physical, mental, and emotional states. However, a proportionally equal number of psychologist do not support graphology as a method to diagnose any physical, emotional, or behavioral and view the process as simply the study of handwriting. Graphology is used as a reliable resource in criminal cases, business compatibility, marital compatibility, and jury screening. Although it is practiced in many parts of the world for a variety of reasons, there is not any scientific proof that the interpretations are correct and there is not any reliable methodology for how the process is implemented. Graphology Validity and Rationale Graphology can be considered scientific research. In order for scientific research to have successful results, the research must have either five or seven steps. The steps begin with the formation of a problem. Graphology must have a defined reason before the process is used for any reason. We will write a custom essay sample on Graphology: The Investigation of Handwriting specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Graphology: The Investigation of Handwriting specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Graphology: The Investigation of Handwriting specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The scientific research will ask a question, gather information, form a theory, collect and sort data, analyze the date, interpret the data and present the final results. The graphology methods, as a serious procedure, must conclude with information that has reasonable rationale and solid validity. Validity refers to the degree to which evidence and theory support the understanding of test scores involve by proposed uses of tests. Graphology in the Business World In the corporate world, it is important to have the right person I the right job. Many human resource departments include handwriting analysis (graphology) to help with employee screening. Although handwriting analysis is not the only method of employee screening, human resource departments include this as a method to determine characteristic traits and personality mannerism. A corporation may require the handwriting analysis to assure that the person being hired will fit in with the current organizational culture and that the person will perform the work assigned to the satisfaction of the manager. Corporations often consider that the results of handwriting analysis will determine if the applicant will be good at the job, can be left alone to complete the work without constant supervision, and if the applicant is well suited for a desk job. It is likely that the graphology method is used in corporations when considering promotions or even terminations. The method can also be used as a tool in job analysis or job satisfaction surveys. In the field of psychology, graphology (handwriting analysis) fulfills the need to evaluate perception and thought processing. Behavioral traits can be tested and explained through graphology. Industrial/Organizational psychologists often seek consultation by a certified graphologist because this consultant understands the over 300 different handwriting features and the interpretation by an expert who is able to see the writer with true value. Graphology is also a valuable tool in the field of ccriminology. The handwriting analysis can be used as character analysis or as forensic analysis. The field of criminology can be compared for proof of fraud or for studying human nature of both victims and criminals. Compatibility studies use handwriting analysis to verify well-matched marriage partners, business partners, and even sports teams. The potential partner’s handwriting is compared to identify similar traits and to pinpoint areas of possible conflicts. Lawyers often use handwriting samples to screen potential jury members and the results presented by a graphologist can recommend who should be removed from the jury pool. Personality Dynamics Personality is defined as the cause within a person distinguished individual behaviors and experiences. Personality descriptions include methods to characterize an individual. Personality dynamics indicates how an individual adjust to life situations (Cloninger, 2000). Personality labels the differences between people. The criteria for determining personality traits by way of graphology are determined by the organization using this method and the professional facilitating the procedure. Graphology provides information inferring traits from behavior. Expressive traits are inferred in graphologist’s results; however the conclusions are based on perception and sometime perception is not reality. Personality tests have disadvantages which make it difficult to measure personality traits that may not be well defined cultural distinctions. Applicants completing the assessment may respond in a way they feel would result in their selection. If all applicants have the same personality traits, some cultures may not be included in the selection pool. Regardless of the cultural differences, self concept is the identifying factor that determines validity of the assessment (Larsen and Buss, 2008). A candidates motivation and personality play a significant role in determining what is commonly called fit — with the company culture, with other employees, with the manager, and so on. With all graphology processes, the certified graphologist will consider many of the following features: †¢Slant – can determine if the writer is friendly, intrusive, loving or supportive. Size – can mean extravert (large size) or introvert (small size). The size of handwriting can determine if the writer is a good communicator of if the writer has communication restrictions †¢Pressure – heavy pressure is a sign that something is seriously wrong and the writer is bad-tempered. Light pressure may indicate a sensitive person †¢Upper case – these strokes can indicate the writer is ambitious with aggressive goals . Lower loops indicate that the writer thinks things through before acting. Word spacing can determine if the writer is comfortable in tight knit groups or prefers a work culture that is not intrusive. †¢Line spacing that is wide show that the writer prefers to step back and take a long look before reacting. Close spacing show that the writer prefers to work close to the organizational action †¢Page margins have significance. A wide left margin shows strong family roots and a wide right margin shows the writer is concerned about other people and the future. A large top margin indicates ambitious goals while a large bottom margin shows energy and practicality. Wavy line handwriting indicates the writer is mentally mature and skillful. Conclusion Not every person experiences can be determined based on a handwriting analysis. Psychologically, some circumstances are more likely to have a strong variance depending on and determined on the conditions existing at the time of the handwriting test. Considerations must include intimacy issues, social clock, personal esteem, physical conditions, mental condition, and physiological needs (Berger, 2004). Is graphology a legitimate science? Who determines the value and strength of conclusions based on the handwriting analysis? Considering that graphology is used by experts worldwide for medical diagnosis, employee screening, psychological analysis, or marital compatibility, the determination to use this method for decision making caries a lot of responsibility. The fastest-growing site for application of graphology is in the workplace. Careful consideration should be exercised before using graphology to assess personalities and determine placement because of the risk and legal liabilities. The decision maker must think about and consider the many characteristics that make a person unique. Personality and character are carried by individuals and the graphology facilitator must be concerned about how the characteristics of a person influence his or her behavior and thoughts (Larsen and Buss, 2008). Personality is the set of psychological traits that describe how people are different from each other and fundamental traits can be easily misinterpreted and have a detrimental impact on both the graphologist and the individual. References: Cloninger, S. C (2000), Theories of Personality – Understanding Persons. Prentice-Hall, Inc. Upper Saddle River, New Jersey 07458 Woods, C. S (2004), The Developing Person – through the life span. Worth Publishers, 41 Madison Avenue, New York, NY 10010 Larsen, R. J. and Buss, D. M, (2008). Personality Psychology – domains of knowledge about human nature. McGraw-Hill, 1221 Avenue of the Americas, New York, NY 10020.

Brief History and Geography of Tibet

Brief History and Geography of Tibet The Tibetan Plateau is a huge region of southwestern China consistently above 4000 meters. This region that was a thriving independent kingdom that began in the eighth century and developed into an independent country in the twentieth century is now under the firm control of China. Persecution of the Tibetan people and their practice of Buddhism is widely reported. History Tibet closed its borders to foreigners in 1792, keeping the British of India (Tibets southwestern neighbor) at bay until the British desire for a trade route with China caused them to take Tibet by force in 1903. In 1906 the British and Chinese signed a peace treaty that gave Tibet to the Chinese. Five years later, the Tibetans expelled the Chinese and declared their independence, which lasted until 1950. In 1950, shortly after Mao Zedongs communist revolution, China invaded Tibet. Tibet pleaded for assistance from the United Nations, the British, and the newly independent Indians for assistance to no avail. In 1959 a Tibetan uprising was squelched by the Chinese and the leader of the theocratic Tibetan government, the Dalai Lama, fled to Dharamsala, India and created a government-in-exile. China administered Tibet with a firm hand, prosecuting Tibetan Buddhists and destroying their places of worship, especially during the time of the Chinese Cultural Revolution (1966-1976). After Maos death in 1976, the Tibetans gained limited autonomy although many of the Tibetan government officials installed were of Chinese nationality. The Chinese government has administered Tibet as the Autonomous Region of Tibet (Xizang) since 1965. Many Chinese have been financially encouraged to move to Tibet, diluting the effect of the ethnic Tibetans. Its likely that the Tibetans will become a minority in their land within a few years. The total population of Xizang is approximately 2.6 million. Additional uprisings occurred throughout the next few decades and martial law was imposed upon Tibet in 1988. The Dalai Lamas efforts to work with China toward solving problems to bring peace to Tibet earned him the Nobel Peace Prize in 1989. Through the work of the Dalai Lama, the United Nations has called upon China to consider giving the Tibetan people a right to self-determination. In recent years, China has been spending billions to improve the economical outlook for Tibet by encouraging tourism and trade to the region. The Potala, the former seat of the Tibetan government and the home of the Dalai Lama is a major attraction in Lhasa. Culture The Tibetan culture is an ancient one that includes the Tibetan language and a specific Tibetan style of Buddhism. Regional dialects vary across Tibet so the Lhasa dialect has become the Tibetan lingua franca. Industry Industry was non-existent in Tibet prior to the Chinese invasion and today small industries are located in the capital of Lhasa (2000 population of 140,000) and other towns. Outside of cities, the indigenous Tibetan culture is comprised primarily of nomads, farmers (barley and root vegetables are primary crops), and forest dwellers. Due to the cold dry air of Tibet, grain can be stored for up to 50 to 60 years and butter (yak butter is the perennial favorite) can be stored for a year. Disease and epidemics are rare on the dry high plateau, which is surrounded by the worlds tallest mountains, including Mount Everest in the south. Geography Though the plateau is rather dry and receives an average of 18 inches (46 cm) of precipitation each year, the plateau is the source for major rivers of Asia, including the Indus River. Alluvial soils comprise the terrain of Tibet. Due to the high altitude of the region, the seasonal variation in temperature is rather limited and the diurnal (daily) variation is more important- the temperature in Lhasa can range as much as -2 F to 85 F (-19 C to 30 C). Sandstorms and hailstorms (with hail of tennis-ball size) are problems in Tibet. (A special classification of spiritual magicians was once paid to ward off the hail.) Thus, the status of Tibet remains in question. Will the culture be diluted by the influx of Chinese or will Tibet once again become Free and independent?

Journel 4 Essay Example | Topics and Well Written Essays - 250 words

Journel 4 - Essay Example t about the menu, but it is written separately in the poem which, I guessed, meant that the poetess wants to talk about everything that she has not got in her life. I guessed that it meant that the joy of reading the menu and fantasizing the food she had ordered was so big that she had forgotten about all the worries of life and whatever she had not been blessed with. I always read a poem by looking at its message that the poet has in mind, and while reading this poem, the same thought of finding the message led me towards Harkin’s convention of significance. I was frustrated at the start when I gave the poem the first go-through, because I was not able to understand what the lines â€Å"It’s when the artichokes†¦and leather† (lines 6-15) meant, and whether they were related to the poem, but a second go-through made me understand that these lines showed the girls’ excitement. The poem is a little unconventional because it is not simple to understand, but is interesting at the same

Consultancy company Essay Example | Topics and Well Written Essays - 750 words

Consultancy company - Essay Example The analyses are chosen because they will provide a clear picture of the business environment. They will also enable one to identify the regions that need to be changed for growth to be achieved. It is crucial to collect information about the tourism market, so as to know how to effect the planned changes. The information needed for the analysis can be collected by various means. These include use of questionnaires, conducting interviews and use of secondary data from various trade records and government offices. Use of PEST is chosen because it will enable the company assess the suitability of the external environment in terms of political, environmental, social and technological factors. This will influence the suitability for expansion of the business. SWOT analysis will enable the identification of strengths and weakness; whereby, the company can amplify its strengths and minimise its weaknesses. Porters five model will enable the company to come with ways to curb competition. Philip (2004) provides a clear and coherent illustration of the five forces. Valentine (2001) is utilised since it provides a resource based approach into SWOT analysis. Roy (2009) illustrates the current trends in tourism which might help Squire Limited in decision making. A graph showing the inbound visits to the UK has also been utilised (Janine, 2011). The tourism industry has experienced immense growth owing to the current government support and emerging trends. On the current trends, the proportion of tourists to the UK has been slightly increasing over the past year (Roy, 2009). Inbound visitors are expected to increase in 2012 due to the Olympics and Paralympics. Britain is also hosting the Queen’s Diamond Jubilee ceremony. The inbound visitors’ spending has also been on an upward trend. This means that the business will benefit enormously with the current growth in the industry. In the UK, the tourism

Financial Management Essay Example | Topics and Well Written Essays - 4000 words

Financial Management - Essay Example The companys fortunes have improved since the launch of a recovery programme by CEO Justin King in 2004. It is apparently closing in on ASDA with its improving market share of 16.22 per cent (ASDA:16.6 per cent). One of the three leading distributors of consumer goods in the UK, the Sainsbury group runs 350 supermarkets and 300 shops branded Sainsburys Local and Bells Stores, offering a range of articles from food to health care products, of which under half are sold under the companys own brand. The company also owns real estate and a bank, Sainsburys Bank, which offers such services as loans, insurance, fund management, and credit cards. It is headquartered in London, England. This paper shall discuss the financial management policies of Sainsbury PLC with regard to three aspects of its operations: Capital Asset Pricing Model, the Weighted Average Cost of Capital, and Dividend Policy. In order to apply the Capital Asset Pricing Model, it is necessary to find a method to estimate the future beta, a component of a security’s risk which cannot be eliminated through diversification, which can applied in estimation of future returns. The least squares regression can be used to develop a linear equation to explain the relationship between return on the stock and return on the market. The characteristic line is usually used to describe the relationship between the rate of return of a market portfolio and the rate of return of a security. It is derived by using regression analysis that summarizes a particular security or portfolios systematic risk and rate of return. The rate of return is dependent on the standard deviation of the assets returns and the slope of the characteristic line, which is represented by the assets beta. A characteristic line of a stock is the same as the security market line. The slope of the line, which is a measure of systematic risk, determines the risk-return trade-off. According to this metric, the more risk you take on -

National Brands And Private Labels

National Brands And Private Labels Different peer reviewed articles and articles published in newspapers, business magazines, retail industry websites and industry experts, test a hypothesis and to draw a conclusion. Findings: The findings from the study suggest that private labels are generally considered low on price and quality. Incidence of rejection generally happens prior to purchase due to extrinsic cues. Store loyalty and image plays a crucial role in selecting the private labels. Retailers derive higher margins, differentiate themselves from competitors and have better control over value chain in the case of private labels. To compete with national brands, retailers these days are developing a portfolio of private labels across price points, improving the extrinsic cues to improve the perceived image of private labels. Managers can enhance consumers perception of the PLB image by improving the service quality that relates to the PLB and provide PLB products with good quality and reliable performance safe for use to reduce perceived performance risk and physical risk, which in turn will increase consumers purchase intention for PLB products. INTRODUCTION: Private Labels: Private labels are defined as the products owned and branded by the organizations whose primary objective is distribution rather than production (Schutte, 1969). Private labels can also be seen as brands owned not by a manufacturer or producer but by a retailer or supplier who gets its goods made by a contract manufacturer under its own label. Pandya Joshi, in their book define store brands or PLs as brands owned, controlled and sold exclusively by retailer.Private label products encompass all merchandize sold under a retailers brand. That brand can be the retailers own name or a name created exclusively by that retailer. Distinction between National-Brands and Private Labels: The national brand is the product that is distributed nationally under a brand name owned by the producer or distributor, as opposed to local brands (products distributed only in some areas of the country), and private label brands (products that carry the brand of the retailer rather than the producer.) National Brands has longer history than the Private Label. So customer knowledge towards the national brand is higher than private labels. With the rise of national advertising, manufacturers brands or national brands (NBs) became widely recognized by consumers who elected their preferred brands and became loyal to them. Over time, manufacturers could exercise greater influence over the final demand for their products and secured a better bargaining position when dealing with retailers (Grant 1987). Retailers saw their margins drastically reduced, and their power to determine the prices to consumers depreciated (Borden 1967). In the food retailing industry, supermarket chains were no longer able to compete, solely, on the basis of price. A way found by retailers to beat competition was through the establishment of Private Label. TYPES OF PRIVATE LABEL Generic private labels Private labels first came onto the scene several decades ago in the US and Europe, and about a decade ago in India, as cheap, inferior products. They were presented as generics, often not bearing the name of the retailer, but simply the name of the product, such as milk or butter, in plain script on a white plain background. Mostly basic food products, canned goods and paper goods, they were offered at low prices, competitive with the lowest priced product in that category. The product range appealed to the budget-sensitive shopper. They were seen as low quality but cheap. Retailers rarely run price promotions because the product is cheap already and there is usually only one product to choose from. It emphasizes on the basic use of a product and is available in simple packaging, limited advertisement and cut in quality and therefore occupies the lowest price tier. Classic /copy cat private labels Copycat store brands carry the name of the retailer and tend to have packaging and price points very close to the products that they compete with. The retailers tend to target branded products that are already successful then produce a copycat that has similar ingredients, packaging and pricing. Copycat retailers can thereby cash in on the success of the branded product without having to incur the costs associated with developing the product and researching the market. Marketing costs are also kept down since the product is instantly recognizable as being associated with the product it is copying. With copycat brands there is no cost of failure to absorb since only successful products are targeted. The retailer tends to produce a similar product and offer it at a lower price than the branded product so the message to the consumer is that it is as good but cheaper. The advantages of having copycat brands is not only to make profit on the sale of the product itself, but it creates competition for the existing manufacturer branded products as well as increasing the retailers bargaining power with the manufacturers, since the retailer has the option to promote its own brand in competition with the original brands. The Spanish clothing chain Zara is a very successful copycat company that sells private labels only, producing fashion clothing at very low prices that imitates famous designers and well-known brands. They employ talented and unknown young designers to pick up on key trends and translate them into clothing for the Zara chain. Its strategy allows it to operate with extremely low costs of advertising, staffing, market research, and so on, that the manufacturer brands continue to incur. Premium private labels As retailer strategies have developed, the approaches have evolved to incorporate premium store brands. Retailers have seen the opportunity to differentiate their products and thereby target a whole new section of the market. The latest trend is to establish high quality products with distinctive packaging, presented as a whole new product line by the retailer, targeted at competing with the top brands in the range. Kumar and Steenkamp define two types of premium brands: the premium private label which is exclusive, higher in price, and superior in quality to competing brands; and the premium-lite store brand which is promoted as being equal or better in quality to the competing brands, while being cheaper. Value innovators in private labels Value innovators are the fourth main category of private labels. The retailers following this approach have focused on cutting down costs and processes to simplify the production and marketing of product ranges, so that a good quality product can be offered at very low prices. The value innovator approach differs greatly to the generic, copycat and premium label approaches. There are a number of key principles that must be adhered to for this approach to be successful. Limited number of products Low costs of production and marketing Good quality products at low prices PRIVATE LABEL BRANDS IN INDIAN MARKET  » Indias largest retail company Future Group has 12 apparel, 4 FMCG and 2 household product private labels in its formats Big Bazaar, Food Bazaar and Pantaloon. Besides these it also has many other private labels across categories and formats.  » Aditya Birlas private labels segment has 7 brands which Aditya Birla Retail Limited provides customers products under its own labels. Private label Food Brands include Feasters, Kitchens Promise, and Best of India. Home Personal care brands include Enriche, 110%, Pestex, Paradise and Germex. It is also planning to launch its private labels in milk and dairy products.  » Tata Croma has plans for 100+ private labels across categories like personal care equipment, laptops, small appliances, etc.  » Reliance Fresh sells staples and food items under Reliance Select and Reliance Value brands. It has recently launched Dairy Pure, in the liquid milk segment. Reliance also sells a number of private labels in other categories like apparel, through its various other formats.  » Shoppers Stop has around 10 private labels, the prominent ones being Stop, Kashish, Life, etc.  » Bharti retail recently launched 8 international private labels of Wal-Mart in its supermarket chain, Easy day.  » Myntra is looking to launch its own private label by Q3 2012, which according to him, will contribute to a better bottom-line for the company, since the margins in private labels are higher.  » Flipkart has entered the private label league through online store brand Digiflip, a brand that sells digital accessories such as laptop bags, sleeves and camera bags pouches.  » Ruchi Soya Corp has tied up recently with Future Group for manufacturing its private label brand Fresh Pure. Internationally  » Nestle works with Lidl, a discount retailer, to create products and packaging in many categories across countries. In the Indian context, Brand owners and manufactures like Indo Nissin (Brand: Top Ramen), Dynamix Dairy (Brand: Dynamix) etc. also manufacture private label brands for their retailers to occupy their excess production capacity.  » Wal Marts private label George is one of the highest selling apparel brands in the US.  » Aldi, the German deep discounter has more than 90 per cent of its sales coming from private labels. Some of its private labels sell more than any national brand in Germany ADVANTAGES AND DISADVANTAGES OF PRIVATE LABEL: The advantages and disadvantages vary depending to which market sector we are referring to. These can be defined as follows: For Retailers: Advantages: Reduction of producer domination in the marketplace Increase in consumer loyalty An opportunity to differentiate and provide variety Flexibility in pricing strategy Positive control over stock keeping inventory Better bargaining position in a depressed economy Disadvantages: Erosion of brand image and brand value if private label quality is poor Lack of standardization of private labels between categories upsets the customer Financial control concerns Excessive focus on the private label at the expense of other products The retailer could be perceived as less powerful in the marketplace as they dont promote recognized brands Low price may equate to low quality Lack of financial support from suppliers For Consumers Advantages: A guarantee of the same quality for a serious price differentiation More variety within the category A trusted retail name equals trust in the product Product provides a need based on a want, where products were missing within the category. E.g. ethnic foods, diet foods, sugar free foods and so on. Disadvantages: Low quality product. Consumers may have a prejudice to low price equaling low quality Previous customer failures could affect the whole private label range in a store. INDIA SCENARIO: Correlated with the immense growth in the retail sector, the growth in sales of private brands stands at an impressive 30% (YOY). As per an AC Nielsen study groceries account for 46% of Private Brand sales. Correlated with the immense growth in the retail sector, the growth in sales of private brands stands at an impressive 30% (YOY). As per an AC Nielsen study groceries account for 46% of Private Brand sales. Strategic Issues for Retail CEOs, a thought leadership report by PricewaterhouseCoopers, puts forth that private label products will be a major lever for growth of participants in Indias retail sector. Indian consumers, often referred to as value conscious, will find major benefit in purchasing private label products since final promotional offers to quickly move their own brands. Indias major retailers expect to embark upon the following strategies for their private label products: costs paid are lower. A demanding and aspiring middle class of 300 million people (or 75 million households) and a large young population of 500 million under the age of 25 years are just two of the demographic-oriented statistics that suggest a large market for private labels in India. In India, private labels are becoming a major component of retailers long-term strategies encompassing product development and sales. Most retailers are investing towards creating robust private label ranges which will appeal to consumers, delight consumers and also meet consumers price preferences. Those retailers who develop good quality, well-priced private labels, and focus on branding and promotion, will increase both their top and bottom lines in a retail environment where innovation, meeting customers needs and efficiency are imperative. (Indian Retail embraces private labels by N. V. Sivakumar). The greatest potential for private labels lies in developing countries, where retail chains with well-developed private-label ranges are growing rapidly. Although growth for private labels is expected in all most all sectors, the highest growth in share is anticipated in the ready-meals sector. The growth of private labels in the international market, especially in developing countries, will be guided by the demands of busier lifestyles. Delivering higher quality and convenience, and introducing innovation in product ranges will help the private-label market to expand further. Retailers can make use of these opportunities by offering good-quality private labels that will foster a sense of brand quality among the customers. Over the long term, this could offer retailers a significant advantage in the global retail sphere. (Going global with private labels: Sandeep Puri Dr Harsh Dwivedi). Private labels are still nascent in India which is to be expected given that modern trade started in the late 1990s. Given the variances in market maturity between Indias retail sector and that of other retail markets in the US and in Europe, it is natural that private labels have yet to achieve a level of sophistication in India that they enjoy overseas. RESEARCH FINDINGS: Some of the significant findings from the PLMA (Private Label Manufacturers Association) Research Report 2010 2011 are: 1). Consumers continue to turn to private-label products in these supermarket categories in which they had formerly purchased only a national-brand product. Around 43 percent of these consumers report that they have recently forsaken a familiar national brand for a private-label counterpart-a marked increase since the GfK study conducted in June 2009, when only 35 percent of consumers said they had done so. 2). Ninety-seven percent respondents compared private labels favorably to their previous national brand choices in the same categories. About 49 percent said that their new private-label selections compared very favorably to their earlier selected national brands. This is an impressive increase from 2009 when only 26 percent reported the same. A 2010 online global survey conducted by The Nielsen Company reveals that 60 percent of consumers across 55 countries from Asia Pacific, Europe, North America, Latin America and Middle East/Africa (comprising countries from Saudi Arabia, Pakistan, United Arab Emirates, Egypt and South Africa) say they are buying more private-label brands because of the economic slowdown. An uncertain economy encouraged many customers to try private labels for the first time. Once this initial barrier was breached, they found private labels to be as good as their branded counterparts, albeit at economical prices. PRIVATE LABELS VS NATIONAL BRANDS: There are a few reasons driving private label growth: an increased concentration among retailers, an improved quality perception among consumers, and a rising social acceptance of private labels consumption. In addition, the current economic downturn has further boosted the appeal of private labels because of their price utility. To combat the threat posed by private labels, consumer packaged goods companies frequently adopt new innovation strategies focused on delivering new value to consumers. Furthermore, research shows that national brand manufacturers have mainly focused on increasing their distance from private labels through innovation and advertising in order to provide a superior value to the consumers compared to private labels brands. In this sense, product innovations help to sustain a national brands competitive advantage and provide a basis for a sustainable price premium over store brands. Research also shows that introduction of new products by national brands has a positive impact on their brand equity which makes them less vulnerable to PLs. CHALLENGES AND OPPORTUNITIES FOR PRIVATE LABELS IN INDIA: 1).Lack of retailer sophistication could hamper private label growth There is lack of supply chain sophistication among Indian retailers. Most retailers still exchange information manually with suppliers. Indian retailers are yet to implement bar-coding techniques properly, let alone sophisticated technologies such as radio frequency identification (RFID). There is also a lack of integrated IT systems, coupled with low overall IT spending. As is evident, Indian retailers have a long way to go before they can be compared with international retailers such as Tesco and Wal-Mart, in terms of technology and supply chain sophistication. Therefore, unless retailers pay attention to these issues, they will be unable to make successful private label portfolios. 2).Rural areas unlikely to be tapped by private labels in the near future While it is widely acknowledged that the real potential in Indian retail lies in rural areas, the rural retail scenario continues to be unorganized and highly fragmented. While FMCG manufacturers such as Hindustan Unilever and ITC continue their efforts to solve the rural retail jigsaw through projects such as Shakti and e-Choupal, major retailers have tended to stay away from the rural scene. In light of high access costs due to infrastructure bottlenecks, along with absence of a successful rural retailing model, the above trend is likely to continue in the coming years. Therefore, the Indian private label market is expected to be largely confined to urban areas (metro cities), with some growth also coming from semi-urban areas (tier II towns). 3).Psyche of the urban Indian consumer is both a hurdle and an opportunity In an ACNielsen consumer survey in 2005, only 56 per cent Indians agreed that private labels are a good option in comparison with brands as against four in five consumers in developed countries. Further, the same survey also concluded that a majority of Indian consumers associate private labels with low cost, and are, therefore, apprehensive about compromising on quality. The target segment for organized retail in India is still predominantly urban, and in the context of private labels, it is more inclined towards upwardly mobile urban consumers. This segment gives high priority to quality, and the budget label perception does not help at all. Further, Indian retailers have not been able to develop a bond with consumers. Consumer loyalty has been seen to provide impetus to private label growth in developed countries such as the United Kingdom. The lack of this bonding and loyalty could hamper private label penetration in coming years. At the same time, though, the Indian consumers psyche also provides an opportunity for retailers. The Indian urban consumer is price-conscious, but also expects high quality. Private label products could actually fit the bill perfectly. 4).Intense competition in Indian retail could provide impetus to private labels With the entrance of several corporate majors such as Reliance, there is intense store-level competition in the current Indian retail scenario. However, if Indian retailers were to follow the UK model, this could actually turn out to be a boon for private label growth. Major UK retailers such as Sainsbury and Tesco have successfully used private labels to differentiate themselves. This scenario could be replicated in India in the near future. 5).Private labels likely to exhibit maximum penetration in food and groceries, clothing and consumer durables segments All segments where percentage of organized retail is relatively high, and which are also exhibiting the highest overall growth rates, are most likely to show maximum private label penetration in the near future. The following figure illustrates the findings of a simple analytical model based on the above two assumptions. Private label penetration by category http://www.indiaretailing.com/images/private10.jpg 6).Ability of retailers to innovate likely to drive future growth of private labels The main USP of private labels is their customization according to user demands. They are then promoted by various means including innovative packaging, promotional schemes, and placement within the retail store. Therefore, success of private label retailers globally has been dependent on their ability to innovate in all aspects of a product formulation or ingredients, supply chain, packaging, advertising, promotional schemes, and so on. The dynamism of private label retailers, in responding to changing consumer needs through suitable modifications, is also critical. In light of the intense competition in Indian retail, coupled with the choosy Indian customer, future success of private labels would depend on the ability of Indian retailers to innovate. This is again a question mark, given the reputation of Indian companies as poor innovators. RECENT TRENDS: Private labels are a growth opportunity that retailers cannot afford to ignore and many are assessing market potential by conducting pilot projects to assess the impact that own brands have on visibility, sales and revenues. Others are working on enhancing depth and breadth of private label ranges. Other selected observations include: While low-price private labels exist, retailers are changing their focus from a price game to one that involves developing a portfolio of brands with distinct positioning for each brand. Retail chains are trying to understand unfulfilled demands existing in Indian market through need-gap analysis. Retailers are incorporating demographic and psychographic indicators into their need-gap assessments. Retailers are also learning from the lessons of experimentation; the quality of their private labels is being improved, product extensions are being created, etc. Some retailers are launching dedicated formats for private labels in apparel and accessories. In the early stages of being launched, this is an indication of the level of commitment that retailers are exhibiting to private labels. Retailers are also working to increase and improve the level of trust that consumers have with regard to private label offerings. That said, sharp promotions, competitive pricing, freebies, etc. are some ways in which retailers can incentivize consumers to try private label products. Factors Influencing Private label Strategies: Private labels apparently be successful without having to rely on the price weapon?. Economic theory hold that the price consumers are willing to pay for a product depends on the utility they derive from consuming the product. A major source of utility is the perceived quality of the product. Perceived quality is defined as the degree of perceived performance excellence of the product. How well does the brand perform its function in the eyes of the consumer? Perceived Quality, Not Price, Drives Private Label Success To understand the relation between perceived quality and price, we need to understand the different types of buyers: Random Buyers are not particularly price sensitive and see little difference in quality. Brand buyers are consumers who are low on price sensitivity and perceive a large quality difference between leading national brands and the store brands .They will buy national brand Private label buyers are price sensitive consumers who perceive a small quality gap between leading manufacturer brands and the store brand. They will purchase the store brand. Toss-ups are consumers who are high on price sensitivity and perceive large quality differences between leading national brands and the store brand The battleground is among toss-ups and random buyers. However the strategy to induce them to private labels is very different. Random buyers can be attracted to the private by using in-store stimuli that guide the shopper to the private label, such as favorable shelf facings, shelf tag ons, and end-of the aisle displays. Toss-ups will usually purchase national brand since for most consumers quality is more important than price. This is especially true if the national brand regularly runs price promotions, which will appeal to the toss-ups high price sensitivity. Private labels can convert toss-ups in to private label buyers only if they convince consumers that the quality of the private labels is comparable to, if not better than, the quality of the national brands. National Brands Irrational Price Premium The question to ask is whether consumers willing to pay more for better quality? It is beneficial that they value quality, but better quality products often cost more to produce, which translates in to higher prices. Thus the question is whether products of higher perceived quality also command a higher price in the marketplace. Consumers are often willing to pay disproportionate price premium for better quality, because quality typically has more weightage than price in purchase decisions. When the relationship between perceived quality gap the price premium commanded by the NBs over PLs for CPGS (consumer package goods) was examined on 75 CPG categories in France, one of the worlds most important and competitive private label markets, the following insights were seen In categories where the perceived quality of national brands exceeds the quality of store brands, the average price premium for manufacturer brands is 56 percent. In quality- equivalent categories (i.e., categories where consumers do not perceive a quality difference between national brands and store brands), the price premium commanded by national brands is 37 percent. The French findings are consistent with the evidence from the United States. A recent study ( using objective quality as reported by Consumer Reports) finds that a 1 percent quality gap between manufacturer and store brands is associated with a 5 percent price gap The price premium that national brands command in quality- equivalent markets is the same as in France, or 37 percent. In 33 percent of the cases, consumers perceive manufacturer and store brands as quality equivalent; however they are willing to pay the same price for the store brands as for the manufacturer brand in only 5 percent of the cases. Conclusion The perceived quality gap between NBs and store brands is a major factor driving the price gap Quality is not the only factor; there is residual price gap that cannot be explained by quality perceptions. The findings we had in categories where consumers do not perceive a quality difference between national and store brands , the price premium commanded by manufacturer brands is substantial 37 percent . Consumers are unwilling to pay equivalent prices for store brands even if they perceive them as quality equivalent. This last result is rather depressing for retailers. Why are consumers willing to pay a price premium for manufacturer brands, even when they do not perceive a quality difference between national and store brands? The reason is that national brands have a clear advantage on brand imagery. BRAND IMAGERY AND THE PRICE GAP National brands offer something intangible that most private labels do not (yet) offer. They allow consumers to identify with the values imbued in the brand, and help consumers express who they are and how these brands fit in to their lifestyle and self concept. Brand imagery refers to the personalized social-emotional bond the consumer has with the brand. What does the brand stand for, and does that appeal to me? Consumers show no difficulty in assigning personality characteristics to brands, in thinking about brands as if they are animated, humanized, and personalized. For example brands like Marlboro, Harley- Davidson, Jack Daniels, and Levis glamorize American ideals of the West, strength, and masculinity, while sophisticated brands like Gucci, Chivas Regal, Revlon, and Mercedes are associated with aspiring imagers such as the upper class, glamour, and sexiness. These image components, regardless of the functional qualities of the product, can be extremely important to people. Two brands may be quality equivalent, but if one brand is stronger on image; it will generate higher utility in the target segment. Consumers are willing to pay a price premium for image utility. Using the French CPG data mentioned earlier, the findings are as below The average price premium commanded by manufacturer brands in categories that are low on imagery (e.g., floor cleaners, kitchen paper, canned green beans) is 38 percent. The average price premium commanded by manufacturer brands in categories that are high on imagery (e.g. deodorants, hair coloring products, whiskey) is 61 percent. Thus the price premium associated with brand imagery is, on average, 23 percent and contributes significantly to the price gap. Although the importance of brand imagery varies across consumers, some generalizations still emerge. Younger consumers attach more importance to brand imagery because of their greater desire for social acceptability, besides being more image conscious in general Singles and couples attach more importance to image utility than larger families. Poorer consumers give more weight to brand imagery. This seems paradoxical since they stand to gain most from purchasing a lower priced store brands. However, it allows them to show the world that they are also sophisticated consumers .Thus the fact that the poor buy private labels more often than the rich is because they have to, not because they want to. IMPLICATIONS FOR RETAILERS We have seen that there is a lot more to private label success than price. We can formalize these ideas by drawing on economic theory. Consumers will purchase a private label if the price premium for the national brands exceeds the utility the consumer derives from the surplus in perceived quality and imagery generated by the national brand. Thus private labels do not have to compete on price alone. Beyond managing the price gap, they can also compete on two non price strategies. We will discuss them first before turning to managing the price gap. Decreasing the Perceived Quality Gap One way to decrease the perceived quality gap with the national brands is to increase the objective (actual) quality of the private label by using better materials

Use of a Portfolio to Assess Students in Math and Science Essay

Use of a Portfolio to Assess Students in Math and Science For a young child, going off to school can be an intimidating experience. Thoughts of whether the other children will like them, if they will have enough money to buy an ice cream at lunch, or if they will have homework that night overwhelms their minds. However, a major part of schooling is testing, and many children freeze when they hear that word. Think about yourself in a testing situation then imagine what it is like for a young child to feel this defeating anxiety. That is why I am informing you, as fellow committee members, teachers, and learners alike, of these ideas for assessing children in math and science. I hope you will all take the time to think about these different methods, and possibly agree on a way to assess our children in the classroom, and eventually present these ideas to the school board to be voted on. As teachers of math and science, we need to stop and ask ourselves what it is we are hoping to accomplish in our classroom. Is it most important for the child to get the right answer, or are we more concerned with how he or she gets the answer? Granted, we are striving for the correct answer, but sometimes numbers are added incorrectly, data is written down wrong, or a child's handwriting is misread. Personally, I feel it is the process the student uses to get to the answer which is important, whether it is right or wrong. "Because the intent [of a new model of assessment] is to assess the creation of knowledge and the processes involved rather than to measure the extent to which students have acquired a coverage of the field of mathematics, a much wider variety of measures, many of them qualitative, are needed" (Bright & Jo... ...f our students in math and science. I feel very passionately for the use of a portfolio, because I feel the students will feel they have more of a say in their education. After all, we all need to work together, because we are all part of a team, the same team. References Bright, G.W. & Joyner, J.M. (1998). Classroom assessment in mathematics. New York: University of America, Inc. Christofi, C. (1988). Assessment & profiling in science. London: Cassell. Cutler, C.S. & Monroe, E.E. (1999, Summer). Contemporary education. What are you learning, Billy Boy, Billy Boy?–the diary of a teacher's incorporation of portfolios into mathematics instruction, 70, 52-55. Kulm, G. (1994). Mathematics assessment. San Francisco: Jossey-Bass. Romberg, T.A. (1992). Mathematics assessment and evaluation. Albany: State University of New York Press.