Financial Analysis of St. Vincents hospital Essay

Financial Analysis of St. Vincents hospital - Essay Example The St. Vincent’s hospital was a major health providing institution within the Manhattan area and it had been serving the local community since being formed in the year 1849, besides the health care facility, a medical college was also on the offerings. St. Vincent’s hospital was closed on April 30, 2010 and it was found that the hospital owed billions of dollars; hence it had to file for bankruptcy. As of April 30th, the hospital had to sack 3000 employees because of its closure. This led to a huge hue and cry amongst the employees of the hospital as the 3000 employees had to face the grudging effect of the loan and that too in a very stiff economic environment where job cutting was a major feature (NY1 News, 2010). Many attempts were made to stop the closure of the hospital but all of these attempts went in vain. U.S. Senators Chuck Schumer, Kirsten Gillibrand and Congressman Jerrold Nadler were all involved in forwarding an application to the U.S. Department of Housi ng and Urban Development (HUD) so that the hospital could be saved from bankruptcy. This request was made to the HUD department because of the department’s ability to offer mortgage insurance. The senators along with the congressman explained that the hospital had a long history of offering major emergency and other health care services in that area and it would be difficult to diversify the emergency patients of St.

See below Essay Example | Topics and Well Written Essays - 1000 words - 4

See below - Essay Example Let us discuss those skills in some detail in order to get a better understanding of how to teach disable children. Teachers of deaf children must possess some special skills and abilities in order to become an effective teacher for the class consisting of deaf children. These skills and knowledge make the teachers of deaf children different to the teachers of normal children. Teachers must have the knowledge of deaf children’s emotions, perceptions, and behaviors in order to teach them in a proper way. They must know how deaf children think and perceive different things. Parents and siblings of the dead children feel a lot of stress due to the inability of their children to communicate effectively with them. The teachers teach the children how to communicate their feelings and emotions to their parents that results in reducing the parents’ stress. It is common fact that senses other than hearing sense go into overdrive for the deaf children in order to compensate them for their disability. Some of these senses include higher visual sense and ability to read the expressions of faces more effectively as compared to normal people. Teachers can make use of these superior senses of deaf children in order to teach them in an appropriate manner and make them able to communicate with different people around them. Teachers also need to work on improving the behavior of deaf children and this is only possible when the teachers will have complete understanding of the deaf children’s abilities to view and perceive different things. Teachers also need to be proficient in teaching the deaf children through educational technologies such as visual telephone relay services, computer-based teaching, video tapes, and television. These technologies work as the major sources of learning for the deaf children. Various researches have proved that visualizing ability of the

Advertising Fast Food Product Placement Media Essay

Advertising Fast Food Product Placement Media Essay Product Placement is a term defined as the practice of integrating specific products and brands into filmed entertainment. Product placement was always evolved into the billion-dollar market of Hollywood. As the costs keep increasing for producing movies, studios become ready to make connections with big corporations, which are willing to place their products in a big, particular film. These big connections have big payments. For example direct payments for product placement (for instance in License to Kill Phillip Morris Tobacco paid $350,000 for Bond to smoke a Lark cigarette). Another good example is, In the biggest co-marketing deal in film history, Coca-Cola paid à Ã‹â€ 95 million to the producers of Harry Potter for the right o use the films logo on its cans in what will become a series of films; the first Harry Potter film cost à Ã‹â€ 75 million. It went on general release on November 2001 and is expected to be shown on a thousand screens in the UK. The movie was like the big bang as expected. Harry Potter products everywhere sold in huge amounts and consumers attacked to any product of the movie letting the industry behind the scenes to gain more power. Today all major US film studios seeking for brands to place into a film they are producing. Studios dont pay to the brand owner but the benefits of product placement advertisement are so big to the product name and the film itself that each side promotes the other. Even some smaller studios are seeking for product placement. These movies usually require the product owners to pay television and billboard advertisements. A small film cannot afford these types of advertisements but product placement can. Getting a product into a movie is a long and complicated process. Only the largest companies have direct connections with the large studios. Other companies need to contact to product placement agencies. These agencies try to attract companies with their promises of favorable placements. These agents contact to studios on the phone and look through the scripts with the studio to find someplace to fit their clients products. There are over hundred product placement agencies in the United States. One of the most famous ones is E.R.M.A. (Entertainment Resources Marketing Association), an agency with the slogan Let Us Put You In Movies. E.R.M.A. has a long list of member studios including 20th Century Fox, DreamWorks, MGM, Universal Pictures, and Warner Bros. This agency also has a longer list of clients and under the food title E.R.M.A. has the most famous fast food brands as clients like Taco Bell, Burger King, Dunkin Donuts, KFC and McDonalds. These lists are just examples and they are normally much longer. While time passes more and more companies are realizing the importance and effectiveness of product placement. Companies are searching for the right movie to place their products and taking advantage of the consumer capacity of the movies. Product owners and studios can use different techniques for placing a product. The best product placements are the ones that the product is needed for the movies storyline. But these placements are not common. Another good placement of a product is by letting the characters using the products. The best example of this type of placement is from the movie Forest Gump. In Forrest Gump, when Forrest goes to the All-American ceremony at the White House he drinks large quantities of Dr. Pepper. It does not come off as a shameless promotion because the consumption of the product creates the funny confrontation between Forrest and President Kennedy, as Forrest says, I got to pee. When people see a movie with product placement they tend to look for the products they see on screen to make these products a part of their lives too like the movie characters they watch. When the consumer see Forest Gump drinking Dr. Pepper and say The best things about meeting the president was you could drink all the Dr. Pepper you wanted. the consumer looks for the brands name everywhere. Instead of drinking orange juice with their sandwiches the consumers order Dr. Pepper with the sandwich. Or someone else sees the Harry Potter cups of Coca-Cola and forget about the juice and buy the cola. When a star uses a recognizable product, people in the audience will pat themselves on the back and say look how smart I am, Im using the same thing as the hero in the movie. Its the most inexpensive way to get visibility and sales power. One of the most famous movies of the director Steven Spielberg was E.T. the Extra-Terrestrial (1982). The movie became famous for its cute alien, two cute little children, flying bicycles, interesting story and neat details that everyone who have seen the movie feels emotionally attached to E.T. Almost every review can be found about the movie is positive and this feels like a magic. The receipt from movies ticket sales worldwide shows $756,700,000. When we look at the list of top grossing movies of all time at the worldwide box office E.T. is number 10. That facts address an incredible success. E.T. is not only famous for these facts but it is also known as the movie that changed the world of the product placement. So how did E.T. change the world of product placement? By showing Reeses Pieces as the favorite food of the major character and after the millions of dollars of ticket sales and thousands of people watching the movie in theatres, noticing Reeses Pieces as the favorite food of the character who the viewers have emotional attachments to while watching the movie. E.T. increased the sales of Reeses Pieces by 70%. This amount was amazing and everybody was impressed. One interesting fact about this placement of the movie is how this all started. On the process of producing the movie suddenly the producers came up with the idea of asking for money from MM for showing MM products in the movie. But MM didnt like the idea so their answer was no. In the end everybody agrees that Reeses Pieces made the right decision to say yes to E.T. After the huge success of the product placement in E.T., advertisement gained even more power. Advertisers started to search for ways to carry their products out of the commercial breaks and move the product to the shows themselves. So the product placement became popular. Some of the most famous examples of product placement are James Bond Series perfect car BMW, Taco Bell in Demolition Man, FedEx in Cast Away and Ford in Jurassic Park. But the most famous products used in product placements are fast foods and the most famous brand would be McDonalds. Fast food restaurants biggest advantage is food is a product easy to fit in most movies and in most movies it is acceptable for a character to got to any fast food restaurant when the fact, that in every neighborhood at least one fast food can be found, considered. But McDonalds even made surprising attacks. In a movie about no technology, no electricity, nothing related to our world but only a world belongs to an era when dinosaurs were still around; McDonalds was looking for product placement. In the picture number1 you can see how McDonalds got into the movie Flintstones. In the movie, McDonalds wasnt only a restaurant that our heroes choose but also on the sign of the restaurant over 19 dozen sold joke is a flashback of the companys fast growth and power. Actually when we look at the picture carefully or while watching the movie we can easily notice that the scene McDonalds was used, in a way is a complete McDonalds commercial. Workers wearing McDonalds uniforms, a big sign telling how powerful McDonalds is getting, a sunny day, children running, laughing and playing, a full restaurant with happy people. This movies receipt from ticket sales worldwide shows $358,500,000. Most people who have seen the movie were children and the image of McDonalds for them is the restaurant their favorite characters choose. This image is a little scary even before we focus on the restaurants quality, health issues or morality. While McDonalds and Hollywood are getting richer and richer with these commercials nations get even more addicted to fast food. Young children (under the age of eight years) are very susceptible to advertisements. If an advertisement for a product attracts their interest, they will ask for it even if it is a product for which they have no need or use. (Theres the story of the five year old boy who was asked what he would choose if he had just one wish. His answer was A Tampax, because if I had that I could swim, ride a horse or do anything) Especially young children influenced to want to eat unhealthy, fatty fast foods. The techniques used in movies by product placement are not very different from the techniques used in fast food commercials to attract children. The messages are the same, having fun in the restaurants, the image of being cool and the tasty food served on these restaurants. These messages work easily on young children. An average child watches about 10,000 food advertisements in one year on television and most of these advertisements are for fast food. Today televisions negative side is not only commercials anymore, but also the movies, which used product placement, shown on television. Fast food companies attack children and adults, everyone, with any weapon they can find including Internet, magazines, even games. What impact is this having on youth? Recent statistics indicate that 14% of children are now seriously overweight. 60% of overweight children between the ages of 5-10 years of age already have at least one risk factor for heart disease, including elevated blood cholesterol, blood pressure or increased insulin, and type 2 diabetes. Even if the audience dont notice the products placed in the movies, that doesnt decrease the effectiveness of the placement. In their minds they still have the image of the product even if they have difficulty in recalling the brands name because they didnt pay much attention, they have the image stuck in their minds. One other fact is product placement is becoming an issue that people talk about. Did you notice that in Flintstones they used Burger King this time. In the first movie they used McDonalds. I wonder why. or I didnt understand why the major character was so upset in McDonalds scene. getting more common in daily dialogues. People would talk about these products even more often as the studios continue making movies like Bye Bye Love, a movie opens with an almost 10 minutes long scene at a McDonalds. But one fact is that these kinds of movies dont get good reviews by the famous critics like Roger Ebert. This quote is taken from his article about the movie from Chicago Sun-Ti mes, The movie opens at a McDonalds, in a long and shameless product placement. Bye Bye, Love looks, in fact, like a McDonalds commercial for its first 10 minutes, as the restaurant serves as neutral turf where ex-wives can drop off the kids for their ex-husbands visitation rights. Today product placement doesnt only exist in movies. It is finding new areas to place the products. For example Bill Fitzhugh, an American author, used product placement in one of his books Cross Dressing. Though the book doesnt feature any scene of people enjoying fast food or anything close to that, there are a few scenes involving cocktails. So the book has placement of little products. Though the book had really bad reviews because of the product placement Fitzhugh still fights for his book. One recent product placement deal took place between Intel and McDonalds. Sims Online, the internet-based continuation of The Sims, a franchise that has sold more than 19 million units worldwide deals with McDonalds to place the restaurant in the game. With this deal in the game players will be able to buy McDonalds kiosk, sell McDonalds products and eat the products to improve their standing within the game. Electronic Arts announced that before the release of the game there might be even more product placements and it is easy to insert additional product later because of the games online nature. Yet, Sims fans didnt like the idea of the placement and they are arguing on the issue on message boards. Today our world is surrounded by fast food companies attacks. Junk and fast food is a part of our lives even if we dont want them in our lives. The image shown to us is a happy, colorful life with fast food. The question is not Do we want it? The question is How far would they go to sell us their fast food? There is no place left to escape from these attacks and fast food is a part of our daily lives whether we want it or not. Fast food industry made people feeding dinosaurs, eat at McDonalds, it is hard to imagine what is next! As Ralph Nader complains Whats next? An entire sitcom shot in McDonalds? May be one day there will be people living in McDonalds.

Plato and The Renaissance Essay -- Philosophy

Plato (428-347 B.C.E.) is considered to be one of the greatest philosophers the world has ever known. Though concerned with specific problems of his own era, Plato's ideas transcend all time. Throughout the ages his works have been translated into many languages and studied by great thinkers of every region of the world. A revival of Platonic thought occurred during the Renaissance. Though Plato's ideas have survived in their original forms, translators and commentators during Renaissance times often understood them in a very different way than intended. Plato's ideas were ahead of their time, but he was nevertheless clearly a product of Classical Greek culture. Many of his dialogues question beliefs of and praise the Greek gods. Political concerns revolved around political systems common in his day, and the distaste for democracy present in his Republic focuses specifically on the form of democracy present in Athens during that time.1 For his time, Plato's work depicts women in a very positive light, but it is still evident that the opinion of women as second class citizens in ancient Greece influenced his opinion. Plato's Republic allows for and expects woman to participate in his ideal ruling class of philosopher kings, but the language used to describe women's roles is nevertheless demeaning.2 In Plato's Socratic dialogues, a plethora of examples representative of the age are used to explain and defend claims, referencing recent wars, politicians in recent history, and Homeric poetry. Plato may have never become the world renowned philosopher that he is considered to be today if it had not been for Socrates (469-399 B.C.E.). Plato was Socrates' most famous pupil, and Socrates was such an inspiration to him that... ...): 406- 439. http://www.jstor.org/stable/10.1353/ren.2008.0331 Kellermann, Frederick. "Montaigne, Reader of Plato." Comparative Literature, Vol. 8, No. 4 (Autumn, 1956): 307-322. http://www.jstor.org/stable/1768763 Lee, Desmond, trans. The Republic, 2nd ed. New York: Penguin Books, 1987. Oliver, Revilo P.. "Plato and Salutati." Transactions and Proceedings of the American Philological Association, Vol. 71, (1940): 315-334. http://www.jstor.org/stable/283132 Schachter, Marc. "Louis Le Roy’s Sympose de Platon and Three Other Renaissance Adaptions of Platonic Eros." Renaissance Quarterly, Vol. 59, No. 2 (Summer 2006): 406-439. http://www.jstor.org/stable/10.1353/ren.2008.0331 Somfai, Anna. "The Eleventh-Century Shift in the Reception of Plato's "Timaeus" and Calcidius's "Commentary"." Journal of the Warburg and Courtauld Institutes, Vol. 65, (2002): 1-21

Cjs 240 week 2 checkpoint Essay

Juvenile delinquency along with the punishments associated with it seems to be one of the touchier subjects in today’s society. When it comes to juveniles, there are a number of different things that lead them to commit crimes. Things like the level of crime in their community, the bond they have with their parents, and even their economic status all lead juveniles to crime. In order for communities to even start to deter crime among juveniles, they need to start implementing a number of sources. One strategy will not just wipe out juvenile crime, you need a combination of many things to keep children away from crime. When it comes to general deterrence, my opinion is that it starts at home. While a child is growing up, his or her parents play a large role in their child’s concept and view of the world. They also help their children deal with feelings and issues that they come across. A positive up bringing will more than likely create a positive outcome, while a negative up bringing is more likely to produce a negative outcome. If a parent is into illegal behavior, the child is likely to follow in those footsteps. In terms of specific deterrence, this comes from people like social workers. Social workers are there to help the children in desperate need. They produce the positive influence that many from broken homes and poverty so desperately need and do not receive at home. With situational crime prevention, I believe this falls on the community as a whole. It is up to the community to make sure that there is safety. If a community is not safe, crime will breed like wild fire. With all the concepts on juvenile crime prevention, I believe that general deterrence is the one that is going to have the most effect. Parents have to determine the right amount of discipline. Too much discipline can cause your child to turn to illegal activity and the same goes for too little discipline. Too many times have we seen that parents want to be friends and not parents. Fix that problem, and you are one step closer to stop juvenile crime.

The Yanomamo and the Fierce Anthropologist

The Fierce Anthropologists The controversy revolving the tribe of the Yanomamo and the professionals linked to anthropology has caught the world’s attention. Rapid and unforeseeable events have set the tone for the controversy. The study of these Amazonian Indians, who live in regions of the Venezuela and Brazil border, has turned in western exploitation. Accusations about of unethical anthropologist are abundant, but little facts about such accusations are evident. The grand attention that these events have attained has turned into a focus on larger issues in anthropological practices.By comparing the approach and relationships of other research projects, we can identify just ethical standards. Most of the controversy stems from the publications about the Yanomamo tribe by anthropologist Napoleon Chagnon. His 1968 volume Yanomamo: The Fierce People made the tribe famous due to good writing and extensive interaction with one of the most isolated people on the planet. But ultim ately, the way that he portrayed them–violent and fierce–is what attracted wide audiences.Much of his books and his video productions are centralized around the theme that the Yanomamo have an immutable trait of violence. According to Chagnon, he collected data, interacted with opposing Yanomamo villages, and received testimony to arrive to his findings. His researched was very lucrative; his book sold more than 4 million copies, which is well beyond the average of other ethnographies. He not only gained financial benefits, he began to be praised and attacked by people around the globe. People accused Chagnon of exaggerating the fact that violence is a part of their culture.For instance, French anthropologist Jacques Lizot, who lived with the Yanomamo for more than twenty years, said that violence is periodic; it does not govern their social life for long periods of time. It is worth noting that Lizot was accused of homosexual acts with young Yanomamo and distributing guns. Others, like Kenneth Good, accused Chagnon of sensationalizing violence, which he elaborated in his book, New Yorkers: The Mugging and Murdering People. He explains that just because violence occurs within the Yanomamo, does not mean they should all be generalized as violent.Good also received backlash for his research because he married a young Yanomamo girl, whom he now has three children with. Another compelling argument came from the studies of Brian Ferguson. He identified Chagnon’s representation of violence as a historical situation. He states that there is a spike in violence during contact with Westerners. As it relates to Chagnon, because he brought western manufactured goods, such as steel and iron tools, he disrupted trading relationships, which lead to inter-village violence for the unequal access of those scarce and desired tools.Among all the accusers, journalist Patrick Tierney gave the controversy the most attention. Tierney’s book, Darkness in E l Dorado: How Scientist and Journalist Devastated the Amazon, explored the affects of Yanomamo’s exposure to the outside world. Published in 2000, the book accuses Chagnon of misrepresenting the Yanomamo as fierce people, being responsible for warfare by interrupting trading relationships, staging film scenes, fabricating data, giving unsupported claims of being the first to contact with the Yanomamo, violating Venezuelan law, and overall unethical practices.The next set of accusations involves geneticist James Neel, who joined Chagnon in the fieldwork of the Yanomamo in 1968. He accuses Neel of helping the measles epidemic worsen because he provided outdated vaccines and misadvised the Yanomamo, which resulted in the deaths of thousands. Many of these accusations were prevalent since Chagnon’s work in the 1960’s, but Tierney’s publication brought them together for mainstream audiences. Subsequently, the American Anthropological Association (AAA) was comp elled to launch an investigation on the controversy.After investigating the abundant accusations, the AAA exonerated Neel from worsening or causing the measles epidemic, found insufficient evidence to charge Chagnon with all of Tierney’s accusation, but did find that he did not have the Yanomamo’s best interest in mind. It is undisputed that this controversy is repelling. Even if all of the accusations were false, the mere accusations show that ethical standards were broken. Surprisingly, the controversy does reap some positive consequences; it encourages personnel–within and outside the field–to consider the appropriate standards that anthropologist should be held to.Ethical questions arise, such as: how an anthropologist explains and gains consent from the targeted group, what is just compensation, or the dynamics and limits of ‘doing no harm’ to the subjects. The unbalance of power between the anthropologist from developed societies and th eir isolated subjects is a relationship that needs to be treated with delicacy to avoid exploitation. We can compare the relationship that researcher and filmmaker John Marshall had with the Juhoansi people of the Kalahari Desert for ethical analysis.John Marshall first went to the Kalahari in 1950 and researched the Juhoansi for fifty years thereafter. His relationship with the Juhoansi was one of friendships. He, alike other anthropologist, compensated the Juhoansi for their cooperation with western goods, but he did not stop there. During one of Marshall’s visits, he found the Juhoansi living in government settlements, which provided food relief and low wage jobs, but also inflicted alcohol abuse, domestic violence, and the lack of independence.In the late 1970’s, Marshall began to advocate for more water access and agricultural opportunity from the government. Because there was such a significant interruption to the traditional way of Juhoansi life, desired changes beset different challenges. Marshall justly compensated the Juhoansi and kept their best interest in mind to avoid causing harm to them. The latter characteristic is one that is of greatest importance because harm can come in direct and indirect ways that are temporary or permanent.The American Anthropological Association standard, labeled the ‘do no harm’ rule, is one that anthropologist often have little ability to prevent. At bare minimum, anthropologists almost always interrupt a group’s way of life when doing research and compensating with goods that are scarce to their environments. Interruptions in general, require adjustment and adaption, and when dealing with groups that have customs and traditions that have not changed for possibly hundreds of years, those adjustments are problematic and often prove to be vitally harmful.For instance, Chagnon’s and other Yanomamo researchers brought western goods and weapons into their community, which created a n interruption in trading and likely contributed to their state of warfare. Further, John Marshall also unintentionally created a significant interruption when his tire tracks that he created during his visits facilitated the contact with government entities, which ultimately changed most of the Juhoansi traditional ways of life.The difference between the two examples is that Marshall actually returned and improved their situation by advocating to their interests. Chagnon not only used more coercive techniques in gaining cooperation, there is also no trace of tangible efforts made to improve the harm he contributed to in the Yanomamo community. If the AAA standards were altered to ‘do not harm only while researching’ or compensate for cooperation, little ethical analysis would be needed, but that is not the case. Doing no harm to the group is indefinite and needs to be examined even after research is complete.Additionally, a â€Å"just† amount of compensation mea ns that it needs to be fair, not just in the context of the region researched, but also that of the western entities benefiting from it; i. e. ten machetes given to the Yanomamo for an ethnography research is not equivalent $500k and advancement in the anthropologist respective career. Alike the Yanomamo, the Juhoansi continue to face challenges due to outside interference. However, their interference mostly comes form governmental entities, and the Juhoansi have been assisted by Marshall and treated ethically by other anthropologists, like Richard Lee.On the other hand, the Yanomamo face problems from miners camping in their territories, destruction of the environment by mining and other outside forces, along with other governmental issues, but it is also clear that the Yanomamo have been significantly exploited by the western world. This could be because of the lack of oversight and/or due to little ethical standards. In any case, these unfortunate chain of events should serve a g reater purpose to the ethical standards of practicing anthropologist and aspiring students.

Scientific method Essay Example

Scientific method Essay Example Scientific method Essay Scientific method Essay In todays society we use science without even knowing it, because we dont relate what we do, where we go, and things that happen to science much less how the scientific method is used in everyday life. The scientific method gives us a precise answer to investigative questions and precise aanswers to those questions. Because of science our children and grandchildren will study the findings in our research of our day and learning more scientist study the world around them. There are 5 steps to the scientific method: . Make observations. 2. Propose a hypothesis. 3. Design and perform an experiment to test the hypothesis. 4. Analyze your data to determine whether to accept or reject the hypothesis. 5. If necessary, propose and test a new hypothesis. By using these steps we can make accurate conclusions instead of assumptions form the discovery of DNA February 28, 1953, by Watson and Crick who made history at Cambridge University in the Cavendish Laboratory. Its because of this discovery that cold case files have been closed and the criminal behind bars and the families can be at rest now. This pressure stems from the action common in childhood and adolescence that one works with friends, rather than the reality of adult life in which one is not necessarily friends with coworkers (Cohen, 1994). Teachers may even feel that secondary students will be rebellious if they are forced to work in groups that are not of their own choosing (Cohen, 1994). When teachers grapple with this question, they confront a decisive and determining factor of successful cooperative learning and the complications that may arise in classroom settings. In a recent casebook for teachers about group work in the lassoer, 38% of the cases concerned difficulties teachers face creating groups (Sultan, Alton, Whitlock, 1998). When assigning group work, teachers must decide whether to allow students to form their own groups or whether to place students in groups through either a random or systematic allocation process. Prior research has examined how these approaches for corning groups affect the group experience by comparing grades on projects, tests, and exams (e. G. Leek 1999; Mightiest 2002; van deer Alan Smith and Spindle 2007; Swanson et al 1998), by analyzing student responses to questionnaires e. G. , Chapman et al 2006; Oddball et al 2007), and by synthesizing findings in prior psychology and organizational behavior research (e. G. , Bryant and Labeling 20060). The objectives of all this group work in a classroom setting are that students will (a) learn the importance of the four Cos of teamworkcommunication, collaboration, coope ration, and compromise (Kitchenware, 1997) and (b) be better prepared to enter the group-oriented workplace. However, using group projects in a class can also have significant drawbacks (e. G. Ashram, 2004; Bator,Wallboard, Krishna, 1997; Comer, 995). Common problems with group projects include free riders (I. E. , students who do not do the work but get credit because of the teams efforts), grade inflation because of some students getting higher grades than normal, lack of exposure to all aspects of a project, and difficulties related to group dynamics. To avoid many of the pitfalls of group projects, instructors should make every effort to structure, implement, and control group projects in an extremely intentional and well-thought- out manner (Chapman Van Oaken, 2001). Most teachers use one of two methods to sign students to groups: students select their own group members or the teacher forms students to groups. A teacher might form a group to practice self monitoring with a group of students. We understand the concern with group works. And seawater. We agree that group works are difficult to do. As always, it is up to the teacher to implement the program in a manner that is engaging and will allow for all students to be successful. Appear to first select friends to work with, not Just acquaintances, and then, if necessary, make additions to the group based on someones seating proximity or by adding students who are known as good group members. It is an informal primary group of students who share a similar or equal status. Members of a particular group often have similar interests and backgrounds, bonded by the premise of sameness. It is quite easy for the teacher to administer, and some evidence suggests that it may lead to better group dynamics and outcomes (e. G. , Bacon, Stewart, Silver, 1999; Mellow, 1993; Strong Anderson, 1990). This research paper will show if the students of Notre Dame of Greater Manila will be more successful if the teacher will Oromo their group, or if the students will let the students to form their own group. CONCEPTUAL FRAMEWORK: The basis for determining whether which of one the two formed groups is more preferred by the students is by conducting a survey. This study aims to know the effectiveness of choosing our own group mates or the choice of teacher. Specifically, it aims to answer the if. Questions: What is the difference if the students or the teachers will choose the group members? What are the advantages and disadvantages if: a. The students will choose their group? B. The teacher will choose their group? SIGNIFICANCE OF THE STUDY The choice of group mates is a very important factor in accomplishing a project. Cooperation should always exist between group members in order to produce good results. This will only happen if the members have good relationships with each other. Usually, friends are the ones comfortable with each other. Having friends as group mates will surely fit in to this criterion. However, friends may tend to be distracted in making the project. Having the teacher choose ones group mates may also be considered so that the intelligent students in the class may be distributed to efferent groups. This will ensure that all groups will have a leader/ guide in making the project. Many other factors should be looked at in order to determine which is really more effective. It is therefore imperative to establish whether having friends as group mates is more effective or not. The aim of this research is to determine the opinions of the two parties involved in this problem, the teachers and the students. These opinions will be crucial in the conclusion that will be made regarding the problem. The results of this research may be given to the teachers so that they will eave a basis for the decisions that they will make in assigning group members. In this study, questionnaires will be used to determine the advantages and disadvantages of having friends as group mates. The questionnaires will consist of ten questions. The types of questions that will be used are: multiple choice, yes or no, and free response. These will help the researchers assess the effectiveness of choosing ones own group mates. The population will be composed of both male and female students of section Mark. Also, interviews will be conducted in order to determine the opinions of the teachers which are also involved in this problem. Their stand on this will be an important factor since they are the ones who actually see the results of the projects produced by the groups. In this part, the population will consist of 2 male and 2 female teachers of section Mark. The limitation of this research is that it will be only applicable to section Mark since the population of both the survey and the interviews are composed of students and teachers only of the said section. Further studies which may consist of a larger population may be inducted in order to state a conclusion which will be applicable to all high school students. DEFINITION OF TERMS 1. Groupings a planned arrangement of things, people, etc. , within a group 2. Group mate A person with whom one is in close association; an associate. . Interview is a conversation between two people (the interviewer and the interviewee) where questions are asked by the interviewer to obtain information from the interviewee. 4. Opinion is a subjective belief, and is the result of emotion or interpretation of facts. An opinion may be supported by an argument, although people may draw opposing pinions from the same set of facts. Opinions rarely change without new arguments being presented. 5. Population is all the organisms that both belong to the same species and live in the same geographical area. The area that is used to define the population is such that inter-breeding is possible between any pair within the area and more probable than cross-breeding with individuals from other areas. Other prompts for the purpose of gathering information from respondents. Although they are often designed for statistical analysis of the responses, this is not always the case. . Research can be defined as the search for knowledge, or as any systematic investigation, with an open mind, to establish novel facts, solve new or existing problems, prove new ideas, or develop new theories, usually using a scientific method. The primary purpose for basic research is discovering, interpreting, and the development of methods and systems for the advancement of human knowledge on a wide variety of scientific matters of our world and the universe. 8. Survey is a method used to collect in a systematic way, information from a sample of individuals.

October 2007 Most Popular Articles

October 2007 Most Popular Articles October 2007 Most Popular Articles October 2007 Most Popular Articles By Daniel Scocco Gross Writing Errors Found on the Web: That being said, a little attention toward correct spelling and basic grammar rules couldn’t hurt, right? Below you will find some curious, to say the least, errors that we gathered on the Web. 8 Proofreading Tips And Techniques: Whether you are writing a magazine article, a college essay or an email to a client, getting your text free of mistakes is essential. The spell checker helps, but it is far from foolproof. That is where proofreading comes in. Below you will find 8 tips and techniques to make your proofreading sessions more effective. Japanese Loan Words: Each language has borrowed from the other. In the case of English, there’s a long list of borrowings. Some of these have no direct English equivalent and describe inherently Japanese concepts. Others come from Japanese via Chinese. Here are a few examples: Companies Are â€Å"it†, Not â€Å"they†: A common error in modern writing looks a little like this: â€Å"Microsoft announced they are releasing a new Xbox console next week†¦Ã¢â‚¬  TV’s War on â€Å"Me† and â€Å"I†: Television scriptwriters - or perhaps actors who are failing to read what has been written for them–seem to be determined to reverse the functions of the pronouns â€Å"I† and â€Å"me† in American speech. Four Tips For Successful Web Writing: If you want people to read your web content, you have to make it appeal to them. Here’s how to do it. Spelling Reform and the Writer: The free and easy use of personal spellings to convey the pronunciation of the word intended by the person writing has not been an option since the middle of the seventeenth century–at least not for writers who wish to avoid having their credibility questioned. A â€Å"Diploma† is not a â€Å"Degree†: The word degree has many meanings, but in academic terms, it refers to a certification awarded at the university level. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the General category, check our popular posts, or choose a related post below:4 Types of Gerunds and Gerund PhrasesAbstract Nouns from AdjectivesI wish I were...

Five Misleading Names

Five Misleading Names Five Misleading Names Five Misleading Names By Maeve Maddox For most people, the word greyhound probably triggers the idea of a skinny gray dog, while the word nightmare conjures up the image of a horse galloping through the night. Here are five words whose names suggest meanings that arent there. catgut: The dried and twisted intestines of sheep, also of the horse and ass; used for the strings of musical instruments; also as bands in lathes, clocks, etc. The word in English probably originated as kitgut, from kit, small fiddle used by dancing teachers. This kit probably derives from OE cythere, from Latin cithara, from Greek kithara. The OED notes that the Dutch word kattedarm does mean guts or intestines of the cat, but adds that theres no evidence that catgut was ever used for the purpose of stringing a musical instrument. greyhound: A variety of dog used in the chase, characterized by its long slender body, and long legs, by the keenness of its sight, and by its great speed in running. Old English had the word grighund. Hund, of course, meant dog. The grig part comes from an Old Norse word for bitch. nightmare: Now usually: a bad dream producing feelings of distress. Originally (usu. with the): a feeling of suffocation or great distress experienced during sleep. A nightmare was a female spirit or monster supposed to settle on and produce a feeling of suffocation in a sleeping person or animal. This kind of mare has cognates in several languages. Its the mar in French cauchemar (nightmare), and is related to Irish morrigain, queen of the elves. It is not related to the mare that means female horse. mustard gas: A colorless oily liquid whose vapor is a powerful irritant and vesicant acting directly on the skin, used in chemical warfare, originally at Ypres during the First World War (1914-18). Mustard gas isnt made from mustard, and its not a gas. It was yellow and those unfortunate enough to get a whiff of it thought it resembled the smell of mustard, garlic, or horseradish. Its an atomized liquid. heartburn: An uneasy burning sensation in the lower part of the chest, due to putrefactive fermentation of the food in the stomach Greek kardia could mean both heart and stomach. Greek kardiakos meant pertaining to the heart. Latin cardiacus could mean pertaining to the stomach. The term heartburn arose from confusion between the areas of heart and stomach. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:100 Idioms About NumbersUse a Dash for Number RangesDealing With A Character's Internal Thoughts

Sense of Lost Love Essay Example | Topics and Well Written Essays - 1500 words

Sense of Lost Love - Essay Example The paper will take a linear narrative model, where I will start of the application process, outline the steps in the middle of the body, and end the project at the publishing phase. Section 2: The step By step Tutorial Guide The Pre-production Phase Brief The first step in the pre-production step is gathering the information and equipment or requirements needed for the application. I first of all determined the different forms of playback that will be met by the animation. Some of the delivery formats that I considered include the following: Format Resolution (pixels) Frames per Second HDTV (1080i) 1920 x1080 30 HDTV (720p) 1280 x 720 30 DVD 720 x 480 29.97 Web 480 x 320 24 PowerPoint Video 800 x 600 24-30 CD-ROM 640 x 480 24 Print image (8.5† x 11†) 2550 x 3300 N/A Retrieved from, http://www.frameworkmedia.com/pdfs/animation_process.pdf From the above table, it is clear that different formats differ in resolution requirements. I was also required to have an absolute sch edule time and a working budget range. I had to ensure that I provide a quality product in the scheduled deadline, so my aim was to decide on the design budget range prior to storyboarding. Style sheet This part of the pre-production phase included giving the details of graphic images used in my framework and motion graphic. Among the graphic images used were video footages, photographs, and illustrations to get the real image. Of significance also were PowerPoint presentations and supporting market content, prerecorded voice tracks, written narration scripts, court documents, and interviews with graphic experts to get the exact data required. It was essential to shoot video footage or take extra photographs during this period, specifically for complex procedures or animations that called for a high degree of realism and accuracy. Storyboard After I was through with the graphics details, my next step was to initiate the storyboarding procedure to establish what the actions of the gr aphics and how the animation will appear. I used various forms of storyboards, such as detailed drawings and napkin sketches, putting in mind the central visual elements at different points in the animation. In this context, I used the storyboard during the design and production step to generate all the assets and models essential for the animation. The storyboard was also necessary to ensure that all the necessities are met by the time the final animation is produced. A concept of importance that I considered was to set an approximated budget for my project before storyboarding. I used design decisions in the process to shun specifically difficult and unaffordable shots (frameworkmedia.com). Production Constructing the multimedia framework and applying the process The storyboard is now approved, and therefore the production phase sets in. My 3D dimension workflow and model is founded on Autodesk 3D max, a tool most often used in gaming and visual effects companies globally. During construction, the animation assets are modeled or drawn in a number of dimensions. I created my model from scratch in a 3d max. 3d models from the available CAD data to sped up the construction process. Finally, the 3d models illustrated the topology of the equipment that was finally animated. The degree of detail needed for the model was driven by the final resolution image and how near the camera was to the model and the

Team Performance Measurement Essay Example | Topics and Well Written Essays - 500 words

Team Performance Measurement - Essay Example Even though performance evaluation can be a successful process that acts as a basis for human resource development in healthcare organizations, there is a likelihood of various challenges being encountered especially if some of the team members consider it to be a punitive undertaking by the management. In a situation whereby individual accomplishments are valued more than teamwork (Sangvai et al. 2008), the junior staff in the healthcare cadre may regard performance measurement as an undesirable process due to their minimal contributions in the hierarchical structure where physicians dominate leadership and public trust. Such attitudes of inferiority may hamper the process of performance measurement as some team members feel intimidated (Castka et al. 2004). Members of a team usually have different perceptions regarding their individual performance and that of others. Some perceive themselves as the top performers, which may present a challenge in the performance measurement process when the continuous feedback to the group reveals results that are contrary to their expectations. If such individuals are rated below their counterparts in the preliminary results, they are likely to be de-motivated and discontented, thereby lowering their performance. Enthusiasm of such team members to participate in subsequent performance measurement processes may decrease; hence delaying the evaluation exercise and the ultimate results (Schrader & Lawless, 2004). Even though a strong team is expected to pursue shared objectives, the different roles require individual performance evaluation so that the management can determine the career development needs for each employee (Sanwong, 2008). This presents a major challenge since the teams normal workflow is affected by the idiosyncratic approach that promotes individualism rather than collective accomplishment of tasks. Some of the team members are likely to develop a pessimistic attitude thereby reducing their

Islamic Banking Operations and Instruments Research Paper

Islamic Banking Operations and Instruments - Research Paper Example Indeed, culture has been traditionally related to society and its intervention in economic life has been rather unexpected. Islamic banks follow specific rules. These rules mostly reflect the Islamic law, also known as Sharia law. Following these rules is considered as obligatory for the Islamic financial institutions. However, it is possible for additions to be made, according to the needs of the local market and always within specific limits, as explained below. The differences of Islamic banks from conventional banks, meaning the Western banks are many. These differences are analyzed in the sections that follow. The paper focuses on all aspects of Islamic banking, including the principles and types of their daily operations but also the instruments that these financial institutions use for aligning their activities with the rules of the Islamic law. The review of the literature published in the particular field has led to the following assumptions: a) the operational rules of Isla mic banks are rather difficult to be implemented and monitored; it is possible for this reason that failures are not avoided but they are kept at rather low levels, if compared to the rate of failures of the western banks, b) the Islamic banking system has a significant advantage compared to the conventional banking system: it is not based on borrowing but rather on deposits. This fact makes Islamic banks more capable of facing strong financial crises. The lack of severe failures in Islamic banks worldwide during the recent recession of 2008 proved that the specific characteristic of Islamic banks is a key element of their competitiveness; c) the performance of Islamic banks may not reach the high levels of performance of western banks. However, this fact should not cause worries. More specifically, the high financial status of western banks is often the result of extensive borrowing by organizations operating at state level, meaning especially the Central Bank of each state. Securi ng funds for expanding their activities and for supporting their financial projects, western banks often give the impression of increased power towards financial institutions of different characteristics, such as Islamic banks or building societies. Still, if their financial statements are carefully reviewed then it is made clear that the level of their performance is actually low, even if their cash flow is high because the level of their liabilities can be significantly higher compared to their assets. The paper has been divided into three main sections. In the introductory section the key elements of the issue under discussion are presented. The various aspects of the paper’s subject are analyzed in the second section which has been divided in sub-sections so that each thematic unit is made clearer. A conclusion is provided aiming to summarize, as possible, the findings of the literature review, as presented analytically in section 2. It should be noted that the particular subject has been chosen mostly because of the significant expansion of Islamic banking as a mode of banking contributing in the stability of the economy and the avoidance of major economic turbulences. 2. Islamic banking –

Geothermal Energy Case Study Example | Topics and Well Written Essays - 500 words

Geothermal Energy - Case Study Example ates electrical power by utilizing the thermal energy from earth and converting it to the electrical energy by utilizing the methods utilized in a thermal power plant. To generate the power, long alloyed pipes that have higher resistivity against the corrosion and high temperatures and pressure are bored deep down into the earth’s crust to make the geothermal energy usable. When water is allowed to run into theses pipes, the geothermal energy makes the temperature of the water to shoot to a level where it converts into steam. Several geothermal power plants are working in the world to provide an uninterrupted power to different locations in the world. Geothermal grounds are parts where two tectonic plates meet. However, the energy can also be gathered without having the geothermal grounds by boring the pipes into the earth crust and marinating a heat exchange. Geothermal energy can be utilized for the majority of energy application like electricity generation, heating the water to be supplied to the homes and industry (DeGunther 2008). If considering the economic aspect of the energy source, it has enough potential to provide the energy to the world. It is type of green power and has a potential that cannot be counted but it has more than the potential to meet the all the energy requirements of the world (Mock, Tester & Wright 1997). In hotter regions it can also be utilized to maintain the temperature of home lower to certain degrees, as the temperature of the earth remains constant to 20-25o C. The operational cost associated to the geothermal power plants is comparatively low. While having so much advantages of the geothermal energy, there are some disadvantages of utilizing the geothermal energy. As the geothermal energy is made usable by digging deep down into the earth, the cost of the digging sometimes rises to an unmanageable way. Sometimes the expected amount of geothermal energy differs to the actual amount due to the lack of technology. Sometimes

Assignment week 3 Example | Topics and Well Written Essays - 1750 words

Week 3 - Assignment Example A defendant is overwhelmed by his attorney s references to legal code numbers and statute paragraphs. He does not understand what these terms mean. The communication between these two parties suffers from __________. After reading the articles entitled, â€Å"Read, At Rilers, a Roadblock to Reform† and â€Å"Experience NIC’s Blended Leadership for Captains† as well as watching the video â€Å"Roselinde Torres: What it takes to be a great leader†, what leadership issues do you envision addressing as senior management of a correctional facility? What steps would you endorse and implement to address those chosen issues? Do not forget to provide applicable examples from the articles and video in your response.----- The leadership issue that should be envisioned is that the senior manahgement should be bold in order to avoid compromising their authenticity. They should exercise their full authority in order to obtain the desired goals. During the course of a raid, communication between SWAT team members suffered as excessive static overwhelmed radios. Within the communication process, this static can be viewed as ________ since it interfered with the communication. A correctional officer is upset with the way shifts are scheduled. He decides to air a grievance with the correctional sergeant and provide feedback about the way the sergeant is scheduling work. The officers communication is best considered ________. A training academy instructors trains new recruits on the legal code by communicating to them the relevant laws/statutes that they should be aware of. The training academy instructor, in this example, is the ________ in the communication process. A prison warden regularly consults with her staff regarding key policy decisions, soliciting their input and asking them to vote on major changes. This

Compare and contrast the use of dramatic irony in Oedipus Rex and Essay

Compare and contrast the use of dramatic irony in Oedipus Rex and Doll's House - Essay Example th plays use dramatic irony to develop conflict in situations that would otherwise not appear to have any, but they differ greatly in how that irony is developed and who is aware of what; in â€Å"Oedipus Rex† the irony develops as a slow but inevitable march towards disaster, making the tone of the play about sweeping concepts like fate, whereas in â€Å"A Doll House† the irony develops through constant attempts by each character to hide their actions from each other, making the play a universal parable about the life of the typical 19th century family. Both â€Å"Oedipus Rex† and â€Å"A Doll House† are similar in using dramatic irony in a plot that would otherwise be bereft of conflict. For instance, in Oedipus, there is no particular antagonist as exists in a traditional narrative – Oedipus is essentially a hero and an anti-hero. The plot revolves around a â€Å"murder† that happened before the play even begins (Sophocles 18), and centers on a quest in which the hero eventually finds himself guilty of that same murder. Likewise, in â€Å"A Doll House,† one of the central themes is the inability of this family to openly communicate with each other, until the relationships in the family erode to the point that Nora, the protagonist â€Å"does not love† her husband Helmer anymore (Ibsen 1333), leaving her house â€Å"empty† when she goes (1333). Obviously this lack of communication would not function to advance the plot if the audience could not see it develop; thus â€Å"A Doll Hou se† uses dramatic irony to advance the plot While both â€Å"Oedipus† and â€Å"A Doll House† use irony to advance the plot, the effects of that irony on the viewer are very different, because the mechanism of developing the irony is very different between the two works. In â€Å"Oedipus,† the narrative relies almost entirely on outside knowledge of events to drive the irony. The audience never sees the events that set Oedipus up to kill his father or sleep with his mother, so when he

Assignment week 3 Example | Topics and Well Written Essays - 1750 words

Week 3 - Assignment Example A defendant is overwhelmed by his attorney s references to legal code numbers and statute paragraphs. He does not understand what these terms mean. The communication between these two parties suffers from __________. After reading the articles entitled, â€Å"Read, At Rilers, a Roadblock to Reform† and â€Å"Experience NIC’s Blended Leadership for Captains† as well as watching the video â€Å"Roselinde Torres: What it takes to be a great leader†, what leadership issues do you envision addressing as senior management of a correctional facility? What steps would you endorse and implement to address those chosen issues? Do not forget to provide applicable examples from the articles and video in your response.----- The leadership issue that should be envisioned is that the senior manahgement should be bold in order to avoid compromising their authenticity. They should exercise their full authority in order to obtain the desired goals. During the course of a raid, communication between SWAT team members suffered as excessive static overwhelmed radios. Within the communication process, this static can be viewed as ________ since it interfered with the communication. A correctional officer is upset with the way shifts are scheduled. He decides to air a grievance with the correctional sergeant and provide feedback about the way the sergeant is scheduling work. The officers communication is best considered ________. A training academy instructors trains new recruits on the legal code by communicating to them the relevant laws/statutes that they should be aware of. The training academy instructor, in this example, is the ________ in the communication process. A prison warden regularly consults with her staff regarding key policy decisions, soliciting their input and asking them to vote on major changes. This

Steam Assisted Gravity Drainage Essay Example for Free

Steam Assisted Gravity Drainage Essay To relief the high demand of energy, countries like United States, Venezuela and especially Canada with 232 billion bbl recoverable unconventional reservoirs which contain bitumen, heavy oil and extra heavy oil as remarkable resources of energy. The reducing high quality oil resources and increase of oil price contributed to production from heavy oil reservoirs in recent years. This paper investigates the heavy crude oil properties and evaluates the steam-assisted gravity drainage(SAGD) which has become the method of choice for oil sand producers and it is therefore critical to optimize this process. Analysis has been done to realize the influence of different parameters on SAGD. The effects of parameters such as horizontal well length, steam quality, viscosity, porosity, permeability in both horizontal and vertical directions, injection well location, injection rate, shale barrier and grid refinement on proficiency of SAGD are analysed. The following findings were obtained: Higher vertical and horizontal permeability, injection rate and steam quality have positive effect on oil production while Lower porosity, absence of preheating period and higher injection rate have adverse effects on steam-oil ratio(SOR) . Preheating period has impact on SOR at the start of the process. In fact without preheating period the amount of SOR at the start of process is very high. Horizontal shale barrier has more negative effect on oil production than vertical shale barriers. Locating injector close to the horizontal production well has nugatory impact. The shorter the length of horizontal wells the lower the recovery of oil. This paper explains the aforementioned effects in details. Results of numerical simulations show that SAGD is advantageous for production of bitumen by considering recovery factor and cumulative steam-oil ratio(CSOR).

Standard Chartered Bank in India Analysis

Standard Chartered Bank in India Analysis Executive Summary The competition in the banking sector is increasing at a tremendous rate. MNC banks in India are doing well in India and Standard Chartered Bank being one of them wants to increase the consumer base. Therefore, it is trying to do this through retail banking. At this point of time the bank is expanding and is coming up with new branches all over India. It has recently opened a new branch there and if yes then how it can acquire new Customers. In two months time I was supposed to promote and sell their products (especially deposits) and to do a market study to know customers needs and requirements so that bank can improvise on them if possible. This time period was not enough to do an intense study. Therefore, I could collect limited data and kept my study limited to small a sample INTRODUCTION An overview of SCB Standard Chartered is the worlds leading emerging markets bank. It employs 29,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas. The Bank serves both Consumer and Wholesale banking customers. The Consumer Bank provides credit cards, personal loans, mortgages, deposit taking activity and wealth management services to individuals and medium sized businesses. The Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets. With 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets. Standard Chartered recognizes its responsibilities to its staff and to the communities in which it operates A brief history of Standard Chartered Standard Chartered is the worlds leading emerging markets bank headquartered in London. Its businesses however, have always been overwhelmingly international. This is summary of the main events in the history of Standard Chartered and some of the organizations with which it merged. The early years Standard Chartered is named after two banks, which merged in 1969. They were originally known as the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. Of the two banks, the Chartered Bank is the older having been founded in 1853 following the grant of a Royal Charter from Queen Victoria. The moving force behind the Chartered Bank was a Scot, James Wilson, who made his fortune in London making hats. James Wilson went on to start The Economist, still one of the worlds pre-eminent publications. Nine years later, in 1862, the Standard Bank was founded by a group of businessmen led by another Scot, John Paterson, who had immigrated to the Cape Province in South Africa and had become a successful merchant. Both banks were keen to capitalize on the huge expansion of trade between Europe, Asia and Africa and to reap the handsome profits to be made from financing that trade. The Chartered Bank opened its first branches in 1858 in Chennai and Mumbai. A branch opened in Shanghai that summer beginning Standard Chartered unbroken presence in China. The following year the Chartered Bank opened a branch in Hong Kong and an agency was opened in Singapore. In 1861 the Singapore agency was upgraded to a branch, which helped provide finance for the rapidly developing rubber and tin industries in Malaysia. In 1862 the Chartered Bank was authorized to issue bank notes in Hong Kong. Subsequently it was also authorized to issue bank notes in Singapore, a privilege it continued to exercise up until the end of the 19th Century. Over the following decades both the Standard Bank and the Chartered Bank printed bank notes in a variety of countries including China, South Africa, Zimbabwe, Malaysia and even during the siege of Marketing in South Africa. Today Standard Chartered is still one of the three banks, which prints Hong Kongs bank notes. Expansion in Africa and Asia The Standard Bank opened for business in Port Elizabeth, South Africa, in 1863. It pursued a policy of expansion and soon amalgamated with several other banks including the Commercial Bank of Port Elizabeth, the Colesberg Bank, the British Kaffarian Bank and the Fauresmith Bank. The Standard Bank was prominent in the financing and development of the diamond fields of Kimberly in 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Over time, half the output of the second largest goldfield in the world passed through the Standard Bank on its way to London. In 1892 the Standard Bank opened for business in Zimbabwe, and expanded into Mozambique in 1894, Botswana in 1897, Malawi in 1901, Zambia in 1906, Kenya, Zanzibar and the Democratic Republic of Congo (D.R.C.), in 1911 and Uganda in 1912. Of these new businesses, Botswana, Zanzibar and the D.R.C. proved the most difficult and the branches soon closed. A branch in Bo tswana opened again in 1934 but lasted for only a year and it was not until 1950 that the Bank re-opened for business in Botswana. In Asia the Chartered Bank expanded opening offices in, Myanmar in 1862, what is now Pakistan and Indonesia in 1863, the Philippines in 1872, Malaysia in 1875, Japan in 1880 and Thailand in 1894. Some 34 years after the Chartered Bank appointed an agent in Sri Lanka it opened a branch in 1892 to take advantage of business from the tea and rubber industries. During 1904 a branch opened in Vietnam. Both the Chartered and the Standard Bank opened offices in New York and Hamburg in the early 1900s. The Chartered Bank gaining the first branch licence to be issued to a foreign bank in New York. The impact of war Even the First World War offered opportunities for expansion when the Standard Bank set up a branch in Tanzania shortly after British troops occupied the formerly German administered Dar es Salaam in September 1916. Both banks survived the inter-war years but the world trade slump led to the closure of operations in the Canary Islands, Liberia, the Netherlands, and Equatorial Guinea. Disaster struck the Chartered Banks office in Yokohama, Japan, when an earthquake in 1923 killing a number of staff destroyed it. The Second World War particularly affected the Chartered Bank when numerous Asian countries were occupied by Japan. Standard Chartered in India The Chartered Bank opened its first overseas branch in India, at Calcutta, on 12 April 1858 Eight years later the Calcutta agent described the Banks credit locally as splendid and its business as flourishing particularly the substantial turnover in rice bills with the leading Arab firms. When the Chartered Bank first established itself in India, Calcutta was the most important Commercial city and was the centre of the jute and indigo trades. With the growth of cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Calcutta as Indias main trade centre. Today the Banks branches and sub-branches in India are directed and administered from Mumbai (Bombay) with Calcutta remaining an important trading and banking centre. Standard Chartered is the largest international banking Group in India. Key businesses include Consumer Banking-Primarily credit cards, mortgages, personal loans and wealth management and wholesale Banking, where the Bank specializes in the provision of cash management trade, finance, treasury and custody services. It is the largest international banking group in India with an employee base of nearly 3500 people across the country. It also boast the largest branch network amongst all international banks in India-with 61 branches in 15 cities. With over 2.3 million retail customers, and a Credit Card base in excess of 1.3 million, it is the leaders in the consumer banking business. The wholesale bank has over 1200 corporate customers with a 33% market share in value with over 270 top transnational companies in India. INDUSTRY PROFILE What is Banking: Banking, in a traditional sense is the business of accepting deposits of money from public for the purpose of lending and investment. These deposits can have a distinct feature of being withdrawable by cheques, which no other financial institution can offer. In addition, banks also offer various other financial services which include. Issuing Demand Drafts Travellers Cheques Credit Cards Collection of Cheques, Bills of exchange Safe Deposit Lockers Issuing Letters of Credit Letters of Guarantee Sale and Purchase of Foreign Exchange Custodial Services Investment Insurance services The business of banking is highly regulated since banks deal with money offered to them by the public and ensuring the safety of this public money is one of the prime responsibilities of any bank. That is why banks are expected to be prudent in their lending and investment activities. Every bank has a Compliance Department, which is responsible to ensure that all the services offered by the bank, and the processes followed are in compliance with the local regulations and the Banks corporate policy. The major regulations and acts that govern the banking business are Banking Regulations act, 1949 Foreign Exchange Management Act, 1999 Indian Contract Act Negotiable Instruments Act, 1881 Banks lend money either for productive purposes to individuals, firms, corporates etc, or for buying house property, cars and other consumer durable and for investment purposes to individuals and others. However, banks do not finance any speculative activity. Lending is risk taking. Banking in the New Millennium Were living in a world dominated by the new idea economy, ticking to the beat of Internet time, where customers are quality conscious, time conscious and price conscious. Technology is creating new agile players making the existing ones obsolete. In this scenario, the role of internet and its impact on banking still appears to be a puzzle. Banks around the world are subject to the same radical changes -new competition, technology, deregulation, and globalization. But, eventually, the classic rules of business will reassert themselves in this virtual environment and the winners will be the first and best movers. The challenges in this millennium for the banking industry are enormous. The technology and Banking sector reforms, together are lifting the competitive intensity of the Banking business. In Banking, embedding knowledge into products can enhance value, and connecting different knowledge sources can create innovative products. The banks that are first to market with the right mix of technologies, strategies and partnerships would be the sure winners. The banking environment worldwide is undergoing massive transformation. Despite the, not so favorable, market sentiments and an apparent backlash against dotcoms, serious players in established industries like banking, remain convinced that the Internet will have a profound impact on the banking sector. Mergers and acquisitions are changing the financial landscape, and cross-border linkages are drastically altering the business characters, in general and banking operations, in particular. But drawing firm conclusions can be dangerous, as mergers and consolidation take many different forms and the impact can give mixed results. But, there is growing concern as to whether mergers deliver the expected benefits and whether cross-border deals are feasible, particularly in Europe, where cultural considerations are seen as barriers to success. In Europe, players are beginning to assert themselves, as the Nat West battle is resolved. Nat west, one of the UKs biggest banks, was forced to accept a hostile takeover bid from a smaller rival, Royal Bank of Scotland in December 2000. Earlier in November 1999, Nat west rejected a similar bid by another small bank, Bank of Scotland. This move left the scene set for Royal Bank of Scotland to submit its long anticipated bid for Nat West. It was follo wed by a flurry of bid and counter bid by the two Scottish banks as Nat west fought to keep its independence. The Royal Bank of Scotland finally won by convincing the Nat West shareholders to accept its  £25 bn offer. This outcome has set the tone for a long overdue round of consolidation in the European financial sector. Coming home, Indian banking sector has come a long way from being a sleepy business institution to a highly proactive and dynamic entity. Indian banking system is in the midst of a technological revolution. It is impacting the Indian industry in three ways firstly, by providing efficient and effective delivery Channels, secondly, it is dramatically influencing the client profile, which in turn leads to the third change i.e. the Human Resources Management. As a service sector, it calls for a change in the attitude of the personnel that would have a salutary effect on customers. Indian Banking that was operating in a highly comfortable and protected environment till the beginning of 1990s has been pushed into the choppy waters of intense competition. Mergers and acquisitions, have been heating up in the new private banking sector since the HDFC-Times Bank merger came through in November 1999. The deal shook an otherwise placid Indian banking world and generated a kind of pressure on banks to shake hands with their peers to cope up with the competition. Going forward, the premium valuations of private banks compared to public sector banks depend on their ability to maintain high earnings growth and quality of assets. The current downturn in the economic activity could result in the increase of non-performing assets for most of the banks. The winner in the market would be the one who can sustain the high growth in business without compromising the asset quality. In this millennium, banks should strive to achieve significant increases in their productivity, efficiency, and profitability. The areas of challenges that lie ahead for the Indian banking sector would be: Restructuring and Reorganizing banks setup, leaner offices, merging and forging of strategic alliances to take advantage of the geographic spread of branch network of banks, develop new products and services that would meet the emerging needs of customers and professional Management structures that would be responsive to the changes in the business environment. The book Banking In The New Millennium examines this changing landscape for the banking services. The purpose of this book is to present the current trends, the emerging scenario and the building blocks in banking sector. A brief section is also dedicated to retail banking that is growing in a big way. The book is divided into four sections analyzing the various aspects of the banking scenario. Packed with the right mix of articles on e-banking, retail banking, and mergers and acquisitions, this book is intended to serve as an executive reference book on Banking. Challenges And Future In Banking Sector Mergers in the Banking, NPA, New Technology, Electronic Cash Transfer After the nationalization of Banks, increasing adoption of technology, continuous mergers in the banking, modernizing backroom operation in the banks and competition pave the path of growth of Indian banking. By the mid-1990, the near monopoly of public sector banks faced the competition by the more customer-focused private sector entrants. This competition forced older and nationalized banks to revitalize their operations. Year 1992 was the golden period of Indian Banking system due to the scam-tainted stock market. Large proportion of household saving moved into the banking system, which recorded an annual growth of 20 percent in deposit. But along with the continuous growth and modernization, there are several challenges confronting the banking sector. The main challenges facing the banking sector are the deployment of funds in quality assets and the management of revenues and costs. The problem of NPA (non- performing assets), overall credit recovery systems still exist. There is a continuous reforms and modernization is in process. A number of recon mediations of two Narasimham committees have been implemented. Foreign Banks focusing on corporate and on the middle class consumer and providing then better service. Nationalized Banks are also attempting to get on the path of automation. Strong Banks will acquire the weaker banks. The member of foreign banks operating in India has increased significantly and their share of total assets has also increased. In the year 2001 estimated foreign bank account for 14.7 percent of the total net profit of commercial banking sector in India. In spite tangible progress and the contribution of Narasimham I and Narasimham committee reports the banking sector in India suffering from systemic and structural problem. OBJECTIVES The main objective of this project report is to make an analytical study of Standard Chartered Bank It includes History of the Bank Product Analysis Service Banks Accounts Comparison of the saving accounts with other leading Banks of India REASEARCH METHODOLOGY Data collection has been done from both sources primary as well as secondary. Primary data : by meeting various managers of the Standard Chartered Bank, Citibank, ABN-AMRO Bank, ICICI, HDFC, HSBC, GTB, UTI and IDBI. Secondary data: From newspaper, magazines, Libraries. CONCEPTUAL FRAMEWORK Investment in India Banking Banking System Introduction The Reserve Bank of India (RBI) is Indias central bank. Though public sector banks currently dominate the banking industry, numerous private and foreign banks exist. Indias government-owned banks dominate the market. Their performance has been mixed, with a few being consistently profitable. Several public sector banks are being restructured, and in some the government either already has or will reduce its ownership. Private and foreign banks The RBI has granted operating approval to a few privately owned domestic banks; of these many commenced banking business. Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion. Capital adequacy norm Foreign banks were required to achieve an 8 percent capital adequacy norm by March 1993, while Indian banks with overseas branches had until March 1995 to meet that target. All other banks had to do so by March 1996. The banking sector is to be used as a model for opening up of Indias insurance sector to private domestic and foreign participants, while keeping the national insurance companies in operation. Banking India has an extensive banking network, in both urban and rural areas. All large Indian banks are nationalized, and all Indian financial institutions are in the public sector. RBI banking The Reserve Bank of India is the central banking institution. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India. It supervises and administers exchange control and banking regulations, and administers the governments monetary policy. It is also responsible for granting licenses for new bank branches. 25 foreign banks operate in India with full banking licenses. Several licenses for private banks have been approved. Despite fairly broad banking coverage nationwide, the financial system remains inaccessible to the poorest people in India. Indian banking system The banking system has three tiers. These are the scheduled commercial banks; the regional rural banks that operate in rural areas not covered by the scheduled banks; and the cooperative and special purpose rural banks. Scheduled and non-scheduled banks There are approximately 80 scheduled commercial banks, Indian and foreign; almost 200 regional rural banks; more than 350 central cooperative banks, 20 land development banks; and a number of primary agricultural credit societies. In terms of business, the public sector banks, namely the State Bank of India and the nationalized banks, dominate the banking sector. Local financing All sources of local financing are available to foreign-participation companies incorporated in India, regardless of the extent of foreign participation. Under foreign exchange regulations, foreigners and non-residents, including foreign companies, require the permission of the Reserve Bank of India to borrow from a person or company resident in India . Regulations on foreign banks Foreign banks in India are subject to the same regulations as scheduled banks. They are permitted to accept deposits and provide credit in accordance with the banking laws and RBI regulations. Currently about 25 foreign banks are licensed to operate in India. Foreign bank branches in India finance trade through their global networks. RBI restrictions The Reserve Bank of India lays down restrictions on bank lending and other activities with large companies. These restrictions, popularly known as consortium guidelines seem to have outlived their usefulness, because they hinder the availability of credit to the non-food sector and at the same time do not foster competition between banks. Indian vs foreign banks Most Indian banks are well behind foreign banks in the areas of customer funds transfer and clearing systems. They are hugely over-staffed and are unlikely to be able to compete with the new private banks that are now entering the market. While these new banks and foreign banks still face restrictions in their activities, they are well-capitalized, use modern equipment and attract high-caliber employees. Government and RBI regulations All commercial banks face stiff restrictions on the use of both their assets and liabilities. Forty percent of loans must be directed to priority sectors and the high liquidity ratio and cash reserve requirements severely limit the availability of deposits for lending.The RBI requires that domestic Indian banks make 40 percent of their loans at concessional rates to priority sectors selected by the government. These sectors consist largely of agriculture, exporters, and small businesses. Since July 1993, foreign banks have been required to make 32 percent of their loans to these priority sector. Within the target of 32 percent, two sub-targets for loans to the small scale sector (minimum of 10 percent) and exports (minimum of 12 percent) have been fixed. Foreign banks, however, are not required to open branches in rural areas, or to make loans to the agricultural sector. Commercial banks lent dols 8 billion in the Indian financial year (IFY, April-March) 1997/98, up sharply from dols 4.4 billion in the previous year. The deployment of gross loans was as follows: FINDINGS AND ANALYSIS BUSINESS Consumer Bank Consumer Banking Offers a wide range of premium banking products and services through the network of 90 branches in 19 cities across the country to cater to customers diverse financial needs. Wealth management offers a complete and comprehensive range of products to fulfill a gamut of customer investment and financial needs. These include domestic and NRI transaction accounts (with several value-add products and services like ATM and globally valid Debit Card, phone banking, extended banking, any branch banking, door step banking and investment advisory services), distribution of capital market and insurance products and dematerialization services and finances against shares. Standard Chartered also offers Priority Banking that is personalized banking for the privileged few. Standard Chartered Group is a leading credit card issuer in India and has several firsts to its credit. These include issuance of the first Global Credit Card in India, the first Photo card, the first Picture Card. Our card division under Unsecured Payments is also the first in South Asia to be accorded an ISO 9002 certification. The credit Cards and Personal Loans Offer include co-branded cards with unique value propositions and cards like Sapnay for the middle-market segment. The division offers a range of personal loan products and also a personal line of credit through products such as Smart Credit. Our Secured Loan Division offers mortgage auto loans and also unique overdraft products like ‘Mileage that offer revolving credit facility against the security of a used or new car. Standard Chartered Finance (SCF), an NBFC is our Centre for Excellence in Service and product distribution arm. Products include loans/leases for new passenger cars, used cars commercial vehicles and medical equipment. Standard Chartered Finance has an extensive network of branches in India. Wholesale Bank Corporate and Institutional Bank Standard Chartered is particularly strong in Institutional relationships and is the preferred correspondent bank for over 300 domestic and international bank, the largest such private sector network in India. The Bank focuses on service quality and all its operational units in trade, cash management, treasury and custody are ISO certified. Standard Chartered is Indias largest foreign trade finance bank and offers a full complement of trade finance products, including export credit in foreign currency, export letters of credit confirmations, merchanting trade and buyer credits. It is one of the few banks in India to offer services like channel financing forfeiting, without recourse export finance, project export and service export approvals and sponsorships. As a leading cash management supplier across emerging markets, Standard Chartered Offers Complete end to end cash management solutions for corporate and institutions. The Greenwich survey for 2001 nominated Standard Chartered the Best Cash Management Service Quality Bank in India Range of Products include vostro accounts, draft drawing, telegraphic transfers and an international payments facility that allows foreign currency payments without a separate account. Standard Chartereds custody and clearing service unit has served Foreign Institutional Investors in India with Superior client servicing, supported by Sophisticated and flexible computerized systems. It is the only custodian in India to earn the ISO 9001:2000 standards certification. Standard Chartered has received top ratings in Industrys benchmark surveys the Global custodian survey 2000 and the Global Investor Survey 2000. Global Markets Standard Charted provides a complete 24 hour coverage of the worlds foreign exchange markets. It provides a broad range of products like Exotic currencies, Derivatives, Debt Capital markets, Currency Options and Electronic trading. Standard Chartered was the first bank in India to introduce its on-Line Treasury, a browser enabled dealing system that enables real-time transactions. Standard Chartered is also recognized as a leading market for the Indian Rupee. The Banks Treasury-the No.1 Treasury in India-is amongst the most active treasuries in the country, being a market maker in local currency and money markets. While we seek to provide advice, treasury products and services to our global clients in the Indian market, we also have active relationships with some of the biggest and most diversified Indian companies and many medium sized companies. With a large specialized sales force, we cater to all foreign exchange, money market and risk management needs of our corporate clients. Treasury has an active inter bank desk which, apart from being a market maker in the Indian Rupee spot and the forwards market, actively quotes for other currencies. The money Market Desk is a leading player in the Rupee markets and in Government and corporate debt trading. The derivative Desk is a market maker in the Rupee Interest rate swap market. We also run one of Indias largest derivative books and offer products up to 7 years tenor. The corporate desk is amongst the largest among the foreign banks in India. With a presence in 5 major cities with state of the art dealing rooms and a corporate sales force of over 20 dealers, we have an unmatched reach and service capability across India. In addition to servicing currency market and investment needs of corporate clients, our corporate desk is active in advisory services pertaining to structuring and risk management. Standard Chartered Mutual Fund is one of the largest and fastest growing debt funds in the market. Standard Chartered Mutual Fund is the only fund that focuses only on the debt segment and prides itself on having developed one of the finest interest rate tracking models. Consumer Bank-Products Types of Deposits Bank Deposits B Standard Chartered Bank in India Analysis Standard Chartered Bank in India Analysis Executive Summary The competition in the banking sector is increasing at a tremendous rate. MNC banks in India are doing well in India and Standard Chartered Bank being one of them wants to increase the consumer base. Therefore, it is trying to do this through retail banking. At this point of time the bank is expanding and is coming up with new branches all over India. It has recently opened a new branch there and if yes then how it can acquire new Customers. In two months time I was supposed to promote and sell their products (especially deposits) and to do a market study to know customers needs and requirements so that bank can improvise on them if possible. This time period was not enough to do an intense study. Therefore, I could collect limited data and kept my study limited to small a sample INTRODUCTION An overview of SCB Standard Chartered is the worlds leading emerging markets bank. It employs 29,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas. The Bank serves both Consumer and Wholesale banking customers. The Consumer Bank provides credit cards, personal loans, mortgages, deposit taking activity and wealth management services to individuals and medium sized businesses. The Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets. With 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets. Standard Chartered recognizes its responsibilities to its staff and to the communities in which it operates A brief history of Standard Chartered Standard Chartered is the worlds leading emerging markets bank headquartered in London. Its businesses however, have always been overwhelmingly international. This is summary of the main events in the history of Standard Chartered and some of the organizations with which it merged. The early years Standard Chartered is named after two banks, which merged in 1969. They were originally known as the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. Of the two banks, the Chartered Bank is the older having been founded in 1853 following the grant of a Royal Charter from Queen Victoria. The moving force behind the Chartered Bank was a Scot, James Wilson, who made his fortune in London making hats. James Wilson went on to start The Economist, still one of the worlds pre-eminent publications. Nine years later, in 1862, the Standard Bank was founded by a group of businessmen led by another Scot, John Paterson, who had immigrated to the Cape Province in South Africa and had become a successful merchant. Both banks were keen to capitalize on the huge expansion of trade between Europe, Asia and Africa and to reap the handsome profits to be made from financing that trade. The Chartered Bank opened its first branches in 1858 in Chennai and Mumbai. A branch opened in Shanghai that summer beginning Standard Chartered unbroken presence in China. The following year the Chartered Bank opened a branch in Hong Kong and an agency was opened in Singapore. In 1861 the Singapore agency was upgraded to a branch, which helped provide finance for the rapidly developing rubber and tin industries in Malaysia. In 1862 the Chartered Bank was authorized to issue bank notes in Hong Kong. Subsequently it was also authorized to issue bank notes in Singapore, a privilege it continued to exercise up until the end of the 19th Century. Over the following decades both the Standard Bank and the Chartered Bank printed bank notes in a variety of countries including China, South Africa, Zimbabwe, Malaysia and even during the siege of Marketing in South Africa. Today Standard Chartered is still one of the three banks, which prints Hong Kongs bank notes. Expansion in Africa and Asia The Standard Bank opened for business in Port Elizabeth, South Africa, in 1863. It pursued a policy of expansion and soon amalgamated with several other banks including the Commercial Bank of Port Elizabeth, the Colesberg Bank, the British Kaffarian Bank and the Fauresmith Bank. The Standard Bank was prominent in the financing and development of the diamond fields of Kimberly in 1867 and later extended its network further north to the new town of Johannesburg when gold was discovered there in 1885. Over time, half the output of the second largest goldfield in the world passed through the Standard Bank on its way to London. In 1892 the Standard Bank opened for business in Zimbabwe, and expanded into Mozambique in 1894, Botswana in 1897, Malawi in 1901, Zambia in 1906, Kenya, Zanzibar and the Democratic Republic of Congo (D.R.C.), in 1911 and Uganda in 1912. Of these new businesses, Botswana, Zanzibar and the D.R.C. proved the most difficult and the branches soon closed. A branch in Bo tswana opened again in 1934 but lasted for only a year and it was not until 1950 that the Bank re-opened for business in Botswana. In Asia the Chartered Bank expanded opening offices in, Myanmar in 1862, what is now Pakistan and Indonesia in 1863, the Philippines in 1872, Malaysia in 1875, Japan in 1880 and Thailand in 1894. Some 34 years after the Chartered Bank appointed an agent in Sri Lanka it opened a branch in 1892 to take advantage of business from the tea and rubber industries. During 1904 a branch opened in Vietnam. Both the Chartered and the Standard Bank opened offices in New York and Hamburg in the early 1900s. The Chartered Bank gaining the first branch licence to be issued to a foreign bank in New York. The impact of war Even the First World War offered opportunities for expansion when the Standard Bank set up a branch in Tanzania shortly after British troops occupied the formerly German administered Dar es Salaam in September 1916. Both banks survived the inter-war years but the world trade slump led to the closure of operations in the Canary Islands, Liberia, the Netherlands, and Equatorial Guinea. Disaster struck the Chartered Banks office in Yokohama, Japan, when an earthquake in 1923 killing a number of staff destroyed it. The Second World War particularly affected the Chartered Bank when numerous Asian countries were occupied by Japan. Standard Chartered in India The Chartered Bank opened its first overseas branch in India, at Calcutta, on 12 April 1858 Eight years later the Calcutta agent described the Banks credit locally as splendid and its business as flourishing particularly the substantial turnover in rice bills with the leading Arab firms. When the Chartered Bank first established itself in India, Calcutta was the most important Commercial city and was the centre of the jute and indigo trades. With the growth of cotton trade and the opening of the Suez Canal in 1869, Bombay took over from Calcutta as Indias main trade centre. Today the Banks branches and sub-branches in India are directed and administered from Mumbai (Bombay) with Calcutta remaining an important trading and banking centre. Standard Chartered is the largest international banking Group in India. Key businesses include Consumer Banking-Primarily credit cards, mortgages, personal loans and wealth management and wholesale Banking, where the Bank specializes in the provision of cash management trade, finance, treasury and custody services. It is the largest international banking group in India with an employee base of nearly 3500 people across the country. It also boast the largest branch network amongst all international banks in India-with 61 branches in 15 cities. With over 2.3 million retail customers, and a Credit Card base in excess of 1.3 million, it is the leaders in the consumer banking business. The wholesale bank has over 1200 corporate customers with a 33% market share in value with over 270 top transnational companies in India. INDUSTRY PROFILE What is Banking: Banking, in a traditional sense is the business of accepting deposits of money from public for the purpose of lending and investment. These deposits can have a distinct feature of being withdrawable by cheques, which no other financial institution can offer. In addition, banks also offer various other financial services which include. Issuing Demand Drafts Travellers Cheques Credit Cards Collection of Cheques, Bills of exchange Safe Deposit Lockers Issuing Letters of Credit Letters of Guarantee Sale and Purchase of Foreign Exchange Custodial Services Investment Insurance services The business of banking is highly regulated since banks deal with money offered to them by the public and ensuring the safety of this public money is one of the prime responsibilities of any bank. That is why banks are expected to be prudent in their lending and investment activities. Every bank has a Compliance Department, which is responsible to ensure that all the services offered by the bank, and the processes followed are in compliance with the local regulations and the Banks corporate policy. The major regulations and acts that govern the banking business are Banking Regulations act, 1949 Foreign Exchange Management Act, 1999 Indian Contract Act Negotiable Instruments Act, 1881 Banks lend money either for productive purposes to individuals, firms, corporates etc, or for buying house property, cars and other consumer durable and for investment purposes to individuals and others. However, banks do not finance any speculative activity. Lending is risk taking. Banking in the New Millennium Were living in a world dominated by the new idea economy, ticking to the beat of Internet time, where customers are quality conscious, time conscious and price conscious. Technology is creating new agile players making the existing ones obsolete. In this scenario, the role of internet and its impact on banking still appears to be a puzzle. Banks around the world are subject to the same radical changes -new competition, technology, deregulation, and globalization. But, eventually, the classic rules of business will reassert themselves in this virtual environment and the winners will be the first and best movers. The challenges in this millennium for the banking industry are enormous. The technology and Banking sector reforms, together are lifting the competitive intensity of the Banking business. In Banking, embedding knowledge into products can enhance value, and connecting different knowledge sources can create innovative products. The banks that are first to market with the right mix of technologies, strategies and partnerships would be the sure winners. The banking environment worldwide is undergoing massive transformation. Despite the, not so favorable, market sentiments and an apparent backlash against dotcoms, serious players in established industries like banking, remain convinced that the Internet will have a profound impact on the banking sector. Mergers and acquisitions are changing the financial landscape, and cross-border linkages are drastically altering the business characters, in general and banking operations, in particular. But drawing firm conclusions can be dangerous, as mergers and consolidation take many different forms and the impact can give mixed results. But, there is growing concern as to whether mergers deliver the expected benefits and whether cross-border deals are feasible, particularly in Europe, where cultural considerations are seen as barriers to success. In Europe, players are beginning to assert themselves, as the Nat West battle is resolved. Nat west, one of the UKs biggest banks, was forced to accept a hostile takeover bid from a smaller rival, Royal Bank of Scotland in December 2000. Earlier in November 1999, Nat west rejected a similar bid by another small bank, Bank of Scotland. This move left the scene set for Royal Bank of Scotland to submit its long anticipated bid for Nat West. It was follo wed by a flurry of bid and counter bid by the two Scottish banks as Nat west fought to keep its independence. The Royal Bank of Scotland finally won by convincing the Nat West shareholders to accept its  £25 bn offer. This outcome has set the tone for a long overdue round of consolidation in the European financial sector. Coming home, Indian banking sector has come a long way from being a sleepy business institution to a highly proactive and dynamic entity. Indian banking system is in the midst of a technological revolution. It is impacting the Indian industry in three ways firstly, by providing efficient and effective delivery Channels, secondly, it is dramatically influencing the client profile, which in turn leads to the third change i.e. the Human Resources Management. As a service sector, it calls for a change in the attitude of the personnel that would have a salutary effect on customers. Indian Banking that was operating in a highly comfortable and protected environment till the beginning of 1990s has been pushed into the choppy waters of intense competition. Mergers and acquisitions, have been heating up in the new private banking sector since the HDFC-Times Bank merger came through in November 1999. The deal shook an otherwise placid Indian banking world and generated a kind of pressure on banks to shake hands with their peers to cope up with the competition. Going forward, the premium valuations of private banks compared to public sector banks depend on their ability to maintain high earnings growth and quality of assets. The current downturn in the economic activity could result in the increase of non-performing assets for most of the banks. The winner in the market would be the one who can sustain the high growth in business without compromising the asset quality. In this millennium, banks should strive to achieve significant increases in their productivity, efficiency, and profitability. The areas of challenges that lie ahead for the Indian banking sector would be: Restructuring and Reorganizing banks setup, leaner offices, merging and forging of strategic alliances to take advantage of the geographic spread of branch network of banks, develop new products and services that would meet the emerging needs of customers and professional Management structures that would be responsive to the changes in the business environment. The book Banking In The New Millennium examines this changing landscape for the banking services. The purpose of this book is to present the current trends, the emerging scenario and the building blocks in banking sector. A brief section is also dedicated to retail banking that is growing in a big way. The book is divided into four sections analyzing the various aspects of the banking scenario. Packed with the right mix of articles on e-banking, retail banking, and mergers and acquisitions, this book is intended to serve as an executive reference book on Banking. Challenges And Future In Banking Sector Mergers in the Banking, NPA, New Technology, Electronic Cash Transfer After the nationalization of Banks, increasing adoption of technology, continuous mergers in the banking, modernizing backroom operation in the banks and competition pave the path of growth of Indian banking. By the mid-1990, the near monopoly of public sector banks faced the competition by the more customer-focused private sector entrants. This competition forced older and nationalized banks to revitalize their operations. Year 1992 was the golden period of Indian Banking system due to the scam-tainted stock market. Large proportion of household saving moved into the banking system, which recorded an annual growth of 20 percent in deposit. But along with the continuous growth and modernization, there are several challenges confronting the banking sector. The main challenges facing the banking sector are the deployment of funds in quality assets and the management of revenues and costs. The problem of NPA (non- performing assets), overall credit recovery systems still exist. There is a continuous reforms and modernization is in process. A number of recon mediations of two Narasimham committees have been implemented. Foreign Banks focusing on corporate and on the middle class consumer and providing then better service. Nationalized Banks are also attempting to get on the path of automation. Strong Banks will acquire the weaker banks. The member of foreign banks operating in India has increased significantly and their share of total assets has also increased. In the year 2001 estimated foreign bank account for 14.7 percent of the total net profit of commercial banking sector in India. In spite tangible progress and the contribution of Narasimham I and Narasimham committee reports the banking sector in India suffering from systemic and structural problem. OBJECTIVES The main objective of this project report is to make an analytical study of Standard Chartered Bank It includes History of the Bank Product Analysis Service Banks Accounts Comparison of the saving accounts with other leading Banks of India REASEARCH METHODOLOGY Data collection has been done from both sources primary as well as secondary. Primary data : by meeting various managers of the Standard Chartered Bank, Citibank, ABN-AMRO Bank, ICICI, HDFC, HSBC, GTB, UTI and IDBI. Secondary data: From newspaper, magazines, Libraries. CONCEPTUAL FRAMEWORK Investment in India Banking Banking System Introduction The Reserve Bank of India (RBI) is Indias central bank. Though public sector banks currently dominate the banking industry, numerous private and foreign banks exist. Indias government-owned banks dominate the market. Their performance has been mixed, with a few being consistently profitable. Several public sector banks are being restructured, and in some the government either already has or will reduce its ownership. Private and foreign banks The RBI has granted operating approval to a few privately owned domestic banks; of these many commenced banking business. Foreign banks operate more than 150 branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion. Capital adequacy norm Foreign banks were required to achieve an 8 percent capital adequacy norm by March 1993, while Indian banks with overseas branches had until March 1995 to meet that target. All other banks had to do so by March 1996. The banking sector is to be used as a model for opening up of Indias insurance sector to private domestic and foreign participants, while keeping the national insurance companies in operation. Banking India has an extensive banking network, in both urban and rural areas. All large Indian banks are nationalized, and all Indian financial institutions are in the public sector. RBI banking The Reserve Bank of India is the central banking institution. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India. It supervises and administers exchange control and banking regulations, and administers the governments monetary policy. It is also responsible for granting licenses for new bank branches. 25 foreign banks operate in India with full banking licenses. Several licenses for private banks have been approved. Despite fairly broad banking coverage nationwide, the financial system remains inaccessible to the poorest people in India. Indian banking system The banking system has three tiers. These are the scheduled commercial banks; the regional rural banks that operate in rural areas not covered by the scheduled banks; and the cooperative and special purpose rural banks. Scheduled and non-scheduled banks There are approximately 80 scheduled commercial banks, Indian and foreign; almost 200 regional rural banks; more than 350 central cooperative banks, 20 land development banks; and a number of primary agricultural credit societies. In terms of business, the public sector banks, namely the State Bank of India and the nationalized banks, dominate the banking sector. Local financing All sources of local financing are available to foreign-participation companies incorporated in India, regardless of the extent of foreign participation. Under foreign exchange regulations, foreigners and non-residents, including foreign companies, require the permission of the Reserve Bank of India to borrow from a person or company resident in India . Regulations on foreign banks Foreign banks in India are subject to the same regulations as scheduled banks. They are permitted to accept deposits and provide credit in accordance with the banking laws and RBI regulations. Currently about 25 foreign banks are licensed to operate in India. Foreign bank branches in India finance trade through their global networks. RBI restrictions The Reserve Bank of India lays down restrictions on bank lending and other activities with large companies. These restrictions, popularly known as consortium guidelines seem to have outlived their usefulness, because they hinder the availability of credit to the non-food sector and at the same time do not foster competition between banks. Indian vs foreign banks Most Indian banks are well behind foreign banks in the areas of customer funds transfer and clearing systems. They are hugely over-staffed and are unlikely to be able to compete with the new private banks that are now entering the market. While these new banks and foreign banks still face restrictions in their activities, they are well-capitalized, use modern equipment and attract high-caliber employees. Government and RBI regulations All commercial banks face stiff restrictions on the use of both their assets and liabilities. Forty percent of loans must be directed to priority sectors and the high liquidity ratio and cash reserve requirements severely limit the availability of deposits for lending.The RBI requires that domestic Indian banks make 40 percent of their loans at concessional rates to priority sectors selected by the government. These sectors consist largely of agriculture, exporters, and small businesses. Since July 1993, foreign banks have been required to make 32 percent of their loans to these priority sector. Within the target of 32 percent, two sub-targets for loans to the small scale sector (minimum of 10 percent) and exports (minimum of 12 percent) have been fixed. Foreign banks, however, are not required to open branches in rural areas, or to make loans to the agricultural sector. Commercial banks lent dols 8 billion in the Indian financial year (IFY, April-March) 1997/98, up sharply from dols 4.4 billion in the previous year. The deployment of gross loans was as follows: FINDINGS AND ANALYSIS BUSINESS Consumer Bank Consumer Banking Offers a wide range of premium banking products and services through the network of 90 branches in 19 cities across the country to cater to customers diverse financial needs. Wealth management offers a complete and comprehensive range of products to fulfill a gamut of customer investment and financial needs. These include domestic and NRI transaction accounts (with several value-add products and services like ATM and globally valid Debit Card, phone banking, extended banking, any branch banking, door step banking and investment advisory services), distribution of capital market and insurance products and dematerialization services and finances against shares. Standard Chartered also offers Priority Banking that is personalized banking for the privileged few. Standard Chartered Group is a leading credit card issuer in India and has several firsts to its credit. These include issuance of the first Global Credit Card in India, the first Photo card, the first Picture Card. Our card division under Unsecured Payments is also the first in South Asia to be accorded an ISO 9002 certification. The credit Cards and Personal Loans Offer include co-branded cards with unique value propositions and cards like Sapnay for the middle-market segment. The division offers a range of personal loan products and also a personal line of credit through products such as Smart Credit. Our Secured Loan Division offers mortgage auto loans and also unique overdraft products like ‘Mileage that offer revolving credit facility against the security of a used or new car. Standard Chartered Finance (SCF), an NBFC is our Centre for Excellence in Service and product distribution arm. Products include loans/leases for new passenger cars, used cars commercial vehicles and medical equipment. Standard Chartered Finance has an extensive network of branches in India. Wholesale Bank Corporate and Institutional Bank Standard Chartered is particularly strong in Institutional relationships and is the preferred correspondent bank for over 300 domestic and international bank, the largest such private sector network in India. The Bank focuses on service quality and all its operational units in trade, cash management, treasury and custody are ISO certified. Standard Chartered is Indias largest foreign trade finance bank and offers a full complement of trade finance products, including export credit in foreign currency, export letters of credit confirmations, merchanting trade and buyer credits. It is one of the few banks in India to offer services like channel financing forfeiting, without recourse export finance, project export and service export approvals and sponsorships. As a leading cash management supplier across emerging markets, Standard Chartered Offers Complete end to end cash management solutions for corporate and institutions. The Greenwich survey for 2001 nominated Standard Chartered the Best Cash Management Service Quality Bank in India Range of Products include vostro accounts, draft drawing, telegraphic transfers and an international payments facility that allows foreign currency payments without a separate account. Standard Chartereds custody and clearing service unit has served Foreign Institutional Investors in India with Superior client servicing, supported by Sophisticated and flexible computerized systems. It is the only custodian in India to earn the ISO 9001:2000 standards certification. Standard Chartered has received top ratings in Industrys benchmark surveys the Global custodian survey 2000 and the Global Investor Survey 2000. Global Markets Standard Charted provides a complete 24 hour coverage of the worlds foreign exchange markets. It provides a broad range of products like Exotic currencies, Derivatives, Debt Capital markets, Currency Options and Electronic trading. Standard Chartered was the first bank in India to introduce its on-Line Treasury, a browser enabled dealing system that enables real-time transactions. Standard Chartered is also recognized as a leading market for the Indian Rupee. The Banks Treasury-the No.1 Treasury in India-is amongst the most active treasuries in the country, being a market maker in local currency and money markets. While we seek to provide advice, treasury products and services to our global clients in the Indian market, we also have active relationships with some of the biggest and most diversified Indian companies and many medium sized companies. With a large specialized sales force, we cater to all foreign exchange, money market and risk management needs of our corporate clients. Treasury has an active inter bank desk which, apart from being a market maker in the Indian Rupee spot and the forwards market, actively quotes for other currencies. The money Market Desk is a leading player in the Rupee markets and in Government and corporate debt trading. The derivative Desk is a market maker in the Rupee Interest rate swap market. We also run one of Indias largest derivative books and offer products up to 7 years tenor. The corporate desk is amongst the largest among the foreign banks in India. With a presence in 5 major cities with state of the art dealing rooms and a corporate sales force of over 20 dealers, we have an unmatched reach and service capability across India. In addition to servicing currency market and investment needs of corporate clients, our corporate desk is active in advisory services pertaining to structuring and risk management. Standard Chartered Mutual Fund is one of the largest and fastest growing debt funds in the market. Standard Chartered Mutual Fund is the only fund that focuses only on the debt segment and prides itself on having developed one of the finest interest rate tracking models. Consumer Bank-Products Types of Deposits Bank Deposits B