Essay on Understanding the Principles and Practices of...

unit 01 UNDERSTANDING THE principles and practices of assessment D/601/5313 mohammad aziz hasan 7/10/2011 | 1. UNDERSTAND LEGAL AND GOOD PRACTICE REQUIRMENTS IN RELATION TO ASSESSMENT | 1.1 Functions of assessment in learning and development Assessment Assessment can be defined as the systematic gathering of information regarding the knowledge and ability of learners which enables learners to obtain feedback on the quality of their learning and enables teachers or assessors to evaluate the effectiveness of their teaching/assessment. In my point of view assessment is a testing tool by which a teacher or assessor can use to detect the outcomes of teaching, learning or assessment process with the learners by†¦show more content†¦1.2 Key Concepts and Principles of Assessment Assessments are usually: Internally set – produced by the assessor or module tutor, for example, questions, projects or assignments Externally set – usually by an Awarding/Examining body, for example, an examination at the end of the programme. These will be marked either by module tutor, or the Awarding/Examining body. The assessment strategy should state how the subject should be assessed, and subsequent results recorded. It should also state the experience, professional development and qualifications that assessors should hold. Quality assurance requirements, for example internal and external verification or moderation, will also be stated. Organisation may also have an assessment policy which an assessor should familiarise him/herself with. Initial Assessment The Assessment Cycle: Assessment Planning Review of Progress Assessment Activity Assessment Decision and Feedback Figure 1.2: The Assessment Cycle (Gravells, A. 2009: 8) Depending upon the subject being assessed and whether it is academic (theory) or vocational (practical) an assessor will usually follow the assessment cycle. The cycle will continue until all aspects of the qualificationShow MoreRelatedUnderstanding the Principles and Practices of Assessment Learner Assignment3161 Words   |  13 PagesUnit 3 – Principles and practice of assessment Introduction; Assessment is viewed as a critical part of teaching and learning to ensure that the required outcomes and criteria for the qualification are achieved by both the tutor and the student. Assessment is the means of obtaining information, which allows teachers, pupils and parents to make judgements about pupil progress.   The starting point for this is the curriculum and the processes of learning and teaching. Assessment is a toolRead Moreunit 1 understanding the principles and practices of assessment2423 Words   |  10 Pagesï » ¿Unit 1: Understanding the principles and practices of assessment 1. Explain the functions of assessment in learning and development Assessment is to judge someone against set criteria to establish whether they are capable to perform a particular activity/job. Assessments can take many different forms i.e. assignments, oral and written questions or professional discussion all of which help to demonstrate the knowledge the individual has developed through learning, these all support the decisionRead MoreAssessment and Quality Assurance Essay examples1221 Words   |  5 PagesTraining, Assessment, Quality Assurance (6317) Qualification Information Policy Statement It has come to our attention that the acronym TAQA has been adopted by a private training provider as their company name. The TAQA acronym has been used by City Guilds since early in 2010 to represent the group of Training Assessment and Quality Assurance qualifications which were launched in September 2010. City Guilds has no relationship with the training provider and does not in any way endorse theirRead MoreLearning Theory From The Classroom908 Word s   |  4 Pagestechnology integration practice is, more often than not, thought of as a set of pedagogical skills or strategies to simply utilize technology in pursuit of effective instruction. Given the omission of learning theory from the teacher competency framework, it might mislead us to understand teacher competencies as merely a skill-based knowledge (i.e., teaching as a straightforward enterprise). Yet, teaching is a complex intellectual work necessary to have a solid understanding of the foundational theoriesRead MoreA New Revised Framework For Teachers Competency With Technology That Expands Mishra And Koeler s Tpack Framework867 Words   |  4 Pagestechnology integration practice is, more often than not, thought of as a set of pedagogical skills or strategies to simply utilize technology in pursuit of effective instruction. Given the omission of learning theory from the teacher competency framework, it thus may lead us to understand teacher competencies as merely a skill-based knowledge (i.e., teaching as a straightforward enterprise). Yet, teaching is a complex intellectual work necessary to have a solid understanding of the foundational theoriesRead MoreKnowledge and Assessment Essay708 Words   |  3 Pages1. Understand the principles requirements of assessment 1.1 explain the functions of assessment in learning and development Determining level of knowledge understanding †¢ Ensuring that learning is taking place †¢ Checking progress †¢ Adhering to course criteria 1.2 define the key concepts and principles of assessment 1. Explain the functions of assessment in learning and development. Assessment is carried out to evaluate that learning has taken place. It measures the learner’sRead Morea1 assessor834 Words   |  4 PagesUnderstanding the Principles and Practices of Assessment. 1. Explain the functions of assessment in learning and development The function of assessment in learning and development is primarily to provide a measure of the students progress. Assessment is carried out through formative (checks throughout the course), passive (to test against previous marks), and/ or summative (at end of course) activities to help the learner see their development whilst allowing the Assessor toRead MoreEssay on Understanding the Principles of Assessment1706 Words   |  7 PagesUnit 1 1.Understanding the Principles and Practices of Assessment 1.1 Function of assessment in learning and development Assessment enables the assessor to measure and record learner achievement. It also enables one to identify individual learner needs through formative assessments as you are working with the learner throughout, identifying what the next step should be. Formative assessments are a continuous process used to provide feedback to the learner. It could also be through summativeRead MoreEssay on Assessment1124 Words   |  5 PagesTAQA UNIT 301 UNDERSTANDING THE PRINCIPLES AND PRACTIES OF ASSESSMENT 1.1 EXPLAIN THE FUNCATIONS OF ASSESSSMENT IN LEARNING AND DEVELOPMENT. During the initial assessment the assessor must ensure the learner knowledge performance and practical skills. The assessor must ensure that the learning understands their course, The assessor must explain all the units to the learner and support them in choosing the most suited units for their learner. The assessor and the learner must decide on anRead MoreHigh Quality Curriculum For Gifted Learners1574 Words   |  7 PagesPrinciple 1: High-Quality Curriculum for Gifted Learners Uses a Conceptual Approach to Organize or Explore Content that is Discipline Based and Integrative This principle is nonnegotiable because gifted learners need to have more than just facts taught to them. â€Å"Most curriculum experts concur that curriculum should focus students on the knowledge, skills, and understanding that best represent the essential structure of the discipline† (Tomlinson et al, 2009, p. 8). There are many different topics

School Bullying How Does Bullying Affect Children

School Bullying How does bullying affect children? Name: Thai Nguyen Phuc Dang ( Dom ) Teacher: Jack Moon ID number: 4956206 Due date: 04/05/2015 Subject code and title: EDU00004 – ACADEMIC AND COMMUNICATION SKILLS B Abstract School bullying is one of the issues being hotly debated today. It effects on daily life, psychological and physical of each student. This is the issue that parents and teachers must understand to be able to control their children in a better way. This report will show the acts and manifestations of school bullying and its impact on children. In addition, this report also made some comments about cyber-bullying. Table of Contents Abstract ii List of figures: iv Introduction 1 1.1 Background 1 1.2 Purpose 1 1.3 Scope 1 1.4 Methodology 1 2. The impact of bullying 2 3. How it happened at school? 3 4. Cyberbullying (School bullying online) 5 5.Conclusion 6 6. Recommendation 6 Reference List 7 List of figures: Figure 1 3 Figure 2 4 Figure 3 5 Introduction 1.1 Background School bullying is one of the big problems in student life. Most student have experienced bullying or feel bullying while they at school. The consequences of this problem can happen for a long time. It can make the victim feel helpless, lonely, scared or upset. Moreover, they may lose the confidence and striving in their school life. Gradually, it makes they don’t want to go to school anymore. 1.2 Purpose This report aims to show how school bullying happened at school andShow MoreRelatedThe Effects Of Bullying On Children s Learning And Development Essay1587 Words   |  7 PagesIntroduction Bullying in Australian primary schools has become an epidemic, having a negative effect on children’s learning and development (Lodge, 2014). Therefore, it is crucial that schools and teachers are aware, understand and educated on how bullying can impact children’s learning and development; to be able to effectively implement policies, respond, educate and eliminate bullying in the school environment. The purpose of this report is to highlight how bullying is a growing issue that affects children’sRead MoreDoes Bullying Affect A Child s Academic Achievement / Performance? Essay1746 Words   |  7 PagesIntroduction DON’T FORGET TO CITE PROPERLY Title: How and why does bullying in primary school affect a child’s academic achievement/performance? Change from primary school to primary and middle school Abstract: Introduction: (is this the correct way of doing it) The research question for this paper is â€Å"How and why does bullying in primary school affect a child’s academic achievement/performance†Ã¢â‚¬ ¦Ã¢â‚¬ ¦um†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦................... Bullying is said to occur when a child is the target of any behaviourRead MoreRacial Bullying Essay1472 Words   |  6 PagesThe word bullying is heard almost everywhere, but what does the word really mean? The definition of bullying according to Dan Olweus, the creator of the Olweus Bullying Prevention Program, is aggressive behavior that involves unwanted negative actions, involves a pattern of behavior repeated over time, and involves an imbalance of power or strength (Olweus). Bullying doesn’t affect just the victim, but it also affects the bystanders around the incident and even the person doing the bullying. ThereRead MoreHow Children Being Bullied Can Not Only Affect Them1021 Words   |  5 PagesWhen one thinks of bullying, they usually associated it with the phrase, â€Å"Sticks and stones may break my bones, but words will never hurt me† those â€Å"sticks and stones† may not only just break those bones, but can undoubtedly leave a lasting impact on a person and make those hateful words and actions hurt that much more to a point that the person would not know how to deal with them. Bullying has become a problematic issue in today’s society, especially where school age children is concerned. BulliesRead MoreIs The Real Psychology Behind Bullying?1683 Words   |  7 PagesIntroduction: Bullying has been a huge part of a student’s life since school began in the 12th century, maybe even before. But, what creates bullies? For many years it has been thought of that bullies were students with low self-esteem. However, new information has shown up showing that bullies tend to be the ones with the highest self-esteem and are the most popular students and are living a great life with no large problems. So, what is the real psychology behind bullying? Why does this continueRead MoreSchool Should Be A Safe Place For Children823 Words   |  4 PagesSchool should be a safe place for children: to learn, play, and make friends. Oklahoma City Public Schools Bullying, Harassment, and Discrimination District policy have been put into place for just that, to protect our children. This policy prohibits and does not tolerate bullying, harassment, or discrimination. Bullying is when someone is specifically picked on for their appearance, actions, religion, sexuality, race or sometimes for no reason at all. Bullying has been a part of school for as longRead MoreNegative Effects Of Bullying1232 Words   |  5 Pages Bullying is a continuing problem that has affected individuals from their childhood and continuing well into adulthood. Consequences of bullying are vast in their potential to negatively impact the person s physical, emotional, and psychological state of well being. The poor management of stress brought by the onset of bullying affects social health both short term and long term foreshadowing numerous potential risk factors and actions. Prevalent issues in victims include higher chances of mentalRead MoreBullying and Its Effects on Our Society936 Words   |  4 Pagesdemonstrate the bullying and its effects on our society, also its will propose some solutions to curb this social evil. Before we can discuss why people bully, need to have a clear understanding of what bullying is . It is the use of force to exploit the resources of others in order to achieve a particular interest; which stems from the need to force the owner of the resources and the talents and abilities of others to employ them in a manner expediency. Regardless of the meaning of bullying, it certainlyRead MoreThe Effects Of Bullying On Children By Dr. Terry Ehiorobo1021 Words   |  5 PagesThe article Bullying in School: The Traumatic Effects of Bullying on Children was written by Dr. Terry Ehiorobo. Dr. Ehiorobo has the following qualifications to address these issues, because he has worked as a school teacher and principal. Currently, Dr. Ehiorobo is employed as a school principal at an alternative school in Kenosha, WI. The main idea of the article is to focus on how these acts of bullying can cause long-lasting effects for the victims. Basically, bullying has a real emotionalRead MoreBul lying Essay1384 Words   |  6 PagesAbstract Bullying is a huge issue in our society today, as adults we need to have as much knowledge as we can on the subject. We need to know the laws, regulations, and statics of bullying so we can help stop it. Bullying leads to young adults having mental illnesses and even children committing suicide. Normally bullies pick certain kinds of children as their victims and torture them. As future teachers and adults in general, we must do everything in our power to try and stop bullying. Bullying

Scm in Petroleum Industry Free Essays

string(40) " is the specialty of the oil companies\." International Journal of Global Logistics Supply Chain Management. Vol. 1, No. We will write a custom essay sample on Scm in Petroleum Industry or any similar topic only for you Order Now 2, 1 November 2006, 90 – 97. Supply Chain Management in the Petroleum Industry: Challenges and Opportunities RAED HUSSAIN Department of Quantitative Methods Information Systems, Kuwait University, Kuwait TIRAVAT ASSAVAPOKEE Department of Industrial Engineering, University of Houston, Texas, U. S. A. BASHEER KHUMAWALA Department of Decision and Information Sciences, University of Houston, Texas, U. S. A. Supply chain management in the petroleum industry contains various challenges, specifically in the logistics area, that are not present in most other industries. These logistical challenges are a major influence on the cost of oil and its derivatives. However, opportunities for cost savings in logistics still do exist. Giant oil and petrochemical companies are undertaking a â€Å"swap† practice that saves companies millions of dollars. The objective of this paper is to shed some light on the supply chain challenges and opportunities in the petroleum industry and on swap practices that have long been employed by petroleum industry’s giants around the world, such as BP, BASF, Honeywell, Nova, and much more, yet have long been ignored in the operations management literature. Keywords: Supply Chain Management, Logistics, Petroleum Industry, The Swap Practice 1. Introduction The steadily increasing global demand for oil and its derivatives such as petrochemicals has enabled companies providing these products to reach more customers and increase their market share and profitability. This boom in global demand along with the ease of international trade and the inflexibility1 involved in the petroleum industry’s supply chain has made its management more complex and more challenging (Coia, 1999; Morton, 2003). Despite the importance of supply chain management and its growing complexity, the petroleum industry is still in the development stage of efficiently managing their supply chains. In fact, according to Steve Welsh, a managing director of the College of Petroleum and Energy Studies at the University of Oxford, the oil and petrochemical industry’s insight into the supply chain is still in its infancy (Schwartz, 2000). However, even with the inflexibility and complexity involved in the industry’s supply chain, there is a lot of room for improvement and cost reduction, specifically in its logistics area. Werner Paratorius, president of BASF’s petrochemicals division said â€Å"Supply chain management is the backbone of a business where logistics costs can be greater than manufacturing costs† (Whitfield, 2004, p. R12). By the end of 2004, world-wide demand for oil reached 75 million barrels per day and has been projected to increase at a rate of 2 percent per year over the next ten years. For example, China’s demand for energy alone is expected to grow at a rate of 4. 5 percent per year for the next five years and reach four million barrels by 2010. However, due to recent political unrest in the Middle East, which is the largest oil producing region, sustainable oil supply has become highly unpredictable. Oil and petrochemicals companies are forced to maintain higher safety stocks and search for alternative sources of supplies (Ikram, 2004). Inflexibility in the supply chain is the constraints involved along the chain, such as long lead-times, manufacturing capacity, and limited means of transportation, that are hard to change. 1 Commodities such as oil, gas, and petrochemicals require specific modes of transportation such as pipelines, vessels or tankers, and railroads. These commodities are produced in specific and limited regions of the world, yet they are demanded all over the globe since they represent an essential source of energy and raw material for a large number of other industries. Several weeks lead-time from the shipping point to the final customers’ location is very common in this type of industry. For example, it takes five weeks for the Persian Gulf’s oil to make its way to the United States and up to another three weeks for it to be processed and delivered (Schwartz, 2000). Opening new production sites or distribution centers closer to dispersed customers is one way to reduce the lead time and transportation costs. However, the acquisition of such facilities in the oil and petrochemical industries, if feasible, is typically very costly and often results in higher inventory and operating costs (Hebert, 2004). Red Cavaney, president of the American Petroleum Institute, said â€Å"Most companies are unlikely to undertake the significant investment needed to even begin the process† (Hebert, 2004) These factors are pushing oil and petrochemicals companies to either absorb the increase in costs or pass the costs on to customers who are already facing increasing prices. Companies therefore have recognized that improved supply chain efficiencies represent a huge area for cost savings, specifically in the logistics area; they are estimated to be an average between 10 and 20 percent of revenues (Hamilton, 2003). Also, companies believe that the supply chain in which they participate as customers and suppliers is what creates competition rather than individual companies (Whitfield, 2004; Lange, 2004; Morton, 2003; Bianchi, 2003; Collins, 1999; Coia, 1999). Despite the importance of the petroleum industry in our daily life and the operational challenges it involves, unfortunately the topic has received very little attention in operations and supply chain management literature. The objective of this paper, therefore, is to shed some light on challenges and opportunities in the petroleum industry’s supply chain management. Our discussion will focus on a practice that has been saving companies millions of dollars but has long escaped the attention it deserves from academia. The practice is referred to as systematic cooperative reciprocal barter (also called â€Å"swaps†) (Haberman, 2002). 2. Supply Chain Management in the Petroleum Industry Before getting into any further discussion of supply chain management in the petroleum industry, it is important to first clarify the industry background and its production process. A brief explanation is available in the appendix. The supply chain of the petroleum industry is extremely complex compared to other industries. It is divided into two different, yet closely related, major segments: the upstream and downstream supply chains. The upstream supply chain involves the acquisition of crude oil, which is the specialty of the oil companies. You read "Scm in Petroleum Industry" in category "Papers" The upstream process includes the exploration, forecasting, production, and logistics management of delivering crude oil from remotely located oil wells to refineries. The downstream supply chain starts at the refinery, where the crude oil is manufactured into the consumable products that are the specialty of refineries and petrochemical companies. The downstream supply chain involves the process of forecasting, production, and the logistics management of delivering the crude oil derivatives to customers around the globe. Challenges and opportunities exist now in both the upstream and downstream supply chains. 3. Challenges in the Supply Chain 3. 1. Logistical Challenges The logistics network in the petroleum industry is highly inflexible, which arises from the production capabilities of crude oil suppliers, long transportation lead times, and the limitations of modes of transportation. Every point in the network, therefore, represents a major challenge (Jenkins and Wright. 1998). The oil and petrochemical industries are global in nature. As a result, these commodities and products are transferred between locations that are—in many cases—continents apart. The long distance between supply chain partners and slow modes of transportation induce not only high transportation costs and in-transit inventory, but also high inventory carrying costs in terms of safety stocks at the final customer location. The great distances between supply chain partners present a high variability of transportation times that can hurt suppliers in terms of service levels and final customers in terms of safety stock costs. Moreover, the transportation process is carried out either by ships, trucks, pipelines, or railroads. In many instances, a shipment has to exploit multiple transportation modes before reaching the final customer’s location. â€Å"Very few industries 91 deal with that kind of complexity in shipping,† said Doug Houseman, a senior manager at the consulting firm Accenture (Morton, 2003, p. 1). Such constraints on transportation modes in this type of industry induce long lead times from the shipping point to the final customers’ location compared to other industries. Hence, considering the amount of inflexibility involved, meeting the broadening prospect of oil demand and its derivates while maintaining high service-levels and efficiency is a major challenge in the pe troleum industry. 3. 2. Other Challenges The logistics function is only one of many areas that affect supply chain performance in the petroleum industry. Integrated process management, information systems and information sharing, organizational restructuring, and cultural reorientation are as equally important (Ikram, 2004). The need for integrated processes all the way from procurement of raw materials to the delivery of the final product is crucial for a company’s success. â€Å"Manufacturing efficiency alone does not ensure a competitive advantage anymore,† said Paratorius, president of BASF’s petrochemicals division (Whitfield, 2004, p. R12). The industry lags behind in using integrated planning across the supply chain. This type of disintegration in the supply chain can increase the cost of acquiring crude oil, which will eventually affect gas prices for consumers (Coia, 1999). Also, due to the globalization of the petroleum industry supply chain, sophisticated information technology is essential for smooth information flow considering the complexity of the logistics network in such an industry. Companies’ relationships in supply chain networks are directly related to the effective use of information technology (Guimaraes, Cook, and Natarajan, 2002). A data flow diagram (DFD) was developed by Hull in 2001 to improve supply chain information flow reliability of the Alaskan North Slope Oil supply chain. The study showed that using the DFD helped to realize the importance of the relationship between scheduling and dispatching (synchronization). By using the DFD to examine the information flow, overall supply chain efficiency was improved and distortion,2 which is greatly related to supply chain structure, was greatly reduced. Moreover, the generic DFD developed offers a template for modeling any supply chain or logistics activity, whether it is a push, pull, or a hybrid push/pull system (Hull, 2001). Sophisticated information technology is also essential for petroleum industries due to security needs. Petroleum companies ship a great deal of hazardous products, and supply chain partners (suppliers and customers) must be aware of the locations of each shipment at any point in time. According to Houseman at Accenture, chemical companies are considering wireless technology to track their shipments (Morton, 2003). Another challenge in the petroleum industry supply chain is the attitude and anxiety regarding collaboration and information sharing between supply chain partners. While collaboration and information sharing represent a crucial factor for supply chain efficiency, â€Å"companies in the petroleum industry are sometimes cautious when it comes to sharing their demand/costs information,† said Salah Al-Kharraz, a supply chain director at Equate Petrochemicals (Personal Communication, 23 December 2004). This type of parsimony regarding collaboration and sharing demand/costs information can waste opportunities for costs saving. Improved supply chain efficiency in the petroleum industry, therefore, needs a new philosophy in collaboration, even if this means working with competitors. â€Å"Collaboration, information sharing, and asset optimization require the greatest mind change because chemical producers and LSPs would have to work with their competitors, as well as with other operators in the supply chain,† said Phil Browitt, CEO of AGILITY, a logistics firm (Young, 2005, p. 10). The acquisition of sophisticated information technology, although necessary, can only do so much if it is not supported by a cultural change. The next section will discuss an opportunity, specifically a practice that has been saving companies millions of dollars in the petroleum industry’s supply chain, yet has not received the attention it deserves in academia. 4. Opportunities in the Supply Chain and Swap Practices In an effort to manage their supply chain and reduce costs, oil and petrochemical companies are outsourcing3 their logistics4 functions. As the trend in outsourcing has grown, these companies have become increasingly Distortion in Hull’s paper is the â€Å"bullwhip effect† established by the well-known beer game developed by Sterman (1989) and Senge (1990). 3 Outsourcing takes place when an organization transfers the ownership of a business process to a supplier. 92 2 reliant on the services of third-party5 logistics companies for managing their supply chains (Collins, 1999). Companies in the petroleum industry, however, took the outsourcing idea one step further and found that one way of outsourcing their logistics functions is to ally and collaborate with competitors. This form of collaboration is referred to as a systematic cooperative reciprocal barter (also called â€Å"swaps† or â€Å"exchanges†) of supplies, assets, market share, or even the entire business among competitors (O’Dwyer, 1988; Robert, 1995; Gain, 1997; Alperowicz, 2001; Sim, 2002). However, despite the significant advantages this practice has generated for companies, a defined model for making such decisions does not exist. The subject has barely received any attention in the operations management literature. Currently, no specific method has been adopted to determine when companies should attempt to make swap decisions. An interview with supply chain directors in two international petrochemical companies that have been involved in swapping with their competitors for the past few years revealed that the only methods used are judgmental6 methods and spreadsheets. Although judgmental approaches may improve accuracy in many decision-making problems, they should not be the only methods employed. The use of only such approaches cannot guarantee an optimal solution. 4. 1. The Swap Practice In a commodity-type industry such as oil and petrochemicals, the source of the commodity is often of no interest to the final customer as long as the commodity adheres to its required specifications and the delivery of that commodity is made by the promised due date. Therefore, competing oil and petrochemical companies form supply chain alliances when delivering commodities to customers in order to reduce transportation and inventory costs and improve customer service. In return, cost savings for transportation in the overall supply chain are shared among participating companies. This form of collaboration is referred to as shipment swapping. This kind of collaboration with competitors creates a shared solution to common supply chain obstacles and is predicted to be the â€Å"Next Big Thing† (Morton, 2003). The swapping technique is currently applied by oil and petrochemical companies around the world in all of its different forms: asset swapping, business swapping, and shipment swapping. However, because of the absence of any general analytical discussion of swap practices in the literature, we first provide examples from the oil and petrochemicals industry for each form of swap practice being used. This is done to illustrate the advantages of collaboration among competitors. Due to brevity, only the more recent examples of such practices are discussed here. 4. 2. Asset Swapping In 2001, BP became the largest olefins producer in Germany after an asset swap with E. ON, a German utility company. Following the deal, BP took over Veba Oel, E. ON’s oil, refining, and petrochemicals business, and E. ON bought BP’s 25 percent stake in Ruhrgas, Germany’s largest gas distributor. The deal gave BP 2. 1 million tons of ethylene7 capacity in Germany, which is about 40 percent of the country’s total, and ave E. ON control of one of the largest gas distribution networks in Germany (Milmo, 2001). In 2003, BASF, a leading German chemical company, and Honeywell signed a long-term deal under which BASF will supply Honeywell with nylon chips and Honeywell will supply BASF with specialty nylon and nylon co-polymers8. Since Honeywell has a strong presence in electrical an d tooling applications and BASF is strong in the automotive sector, the deal has benefited both companies in their business specialties. For example, in 2003 the deal raised BASF’s market share in nylon from 9 percent to 35 percent and gave Logistics is the process of planning, implementing, and controlling the efficient, cost-effective flow and storage of raw material, in-process inventory, finished goods, and related information from point of origin to point of consumption to conform to customer requirements (Council of Logistics Management, 1998, p. 2). 5 Third-party logistics is the use of an outside company to perform all or part of the firm’s materials management and product distribution function. 6 A judgmental method is the use of people’s opinions when making decisions. 7 Ethylene is a colorless gas at room temperature. At very low temperatures, it is a liquid. It is used as a refrigerant and in welding and cutting metals. It is also used to manufacture ethylene oxide, mustard gas, and other organics and to accelerate the ripening of fruits. 8 When a polymer chain-like molecule is made by linking only one type of small molecule together, it is called a homopolymer. When two different types of molecules are joined in the same polymer chain, it is called a co-polymer. 93 4 Honeywell the chance to concentrate on carpet, apparel, and fabrics for automotive upholstery. Honeywell plans to eventually sell the nylon business (Sim, 2003). More recently, the Kuwait Petroleum Company (KPC) and the Iraqi Oil Institute (SOMO) signed a comprehensive memorandum of understanding related to exchanges of shipments of Kuwaiti benzene and diesel with Iraqi natural gas. The swap will be implemented in two phases. Thirty-five million cubic feet of Iraqi natural gas will be supplied daily to Kuwait for about one year at an estimated cost of U. S. $24 million during the first phase. Then, 165 million cubic feet of natural gas will be supplied daily to Kuwait for about two years at an estimated cost of U. S. 700 million dollars during the second phase. Meanwhile, Kuwait will supply Iraq with oil derivatives, benzene, and diesel, ranging from two to three million liters of benzene and 1. 3 to 1. 5 million liters of diesel daily (Alshalan, 2004). The outcome of this agreement is expected to significantly benefit both countries. Kuwait produces a relatively modest volume of natural gas (around 293 billion cubic feet––Bcfâ €“–in 2002), the vast majority of which is â€Å"associated gas. †9 Prior to the 1990-1991 Gulf War, Kuwait received significant volumes of natural gas from Iraq. The gas came from Iraq’s southern Rumaila field through a 40-inch, 100-mile, 300 Mmcf/d pipeline to Kuwait’s central manifold at Ahmadi. The gas was used for the production of petrochemicals, electricity, and water through desalination processes. With such uses of natural gas, the Kuwaiti-Iraqi swapping deal could free up a substantial amount of oil to Kuwait, possibly 100,000 barrels per day (bbl/d) for export by 2006, which is presently used for similar purposes. For example, 65,000 bbl/d of fuel oil is currently used to generate electric power in Kuwait. Throughout most of the 1990s, Iraq generally did not have access to the latest state-of-the-art oil industry technology. Saybolt International reported that Iraq oil companies, NOC and SOC, were able to increase their oil production through the use of short-term techniques not generally considered acceptable in the oil industry (i. e. , â€Å"water flooding,† the injection of refined oil products into crude reservoirs). In addition, a U. N. report in June 2001 stated that Iraqi oil production capacity would fall sharply unless technical and infrastructure problems were addressed. Moreover, Iraq’s southern oil industry was decimated in the 1990-1991 Gulf War, with production capacity falling to 75,000 bbl/d in mid-1991. The Gulf War resulted in the destruction of (a) gathering centers and compression/degassing stations at Rumaila; (b) storage facilities, including the 1. 6 million bbl/d (nameplate capacity) Mina al-Bakr/Basra export terminal; and (c) pumping stations along the 1. 4 million bbl/d (pre-war capacity) Iraqi Strategic (North-South) Pipeline. Seven other sizable fields remain damaged or partially mothballed. These include Zubair, Luhais, Suba, Buzurgan, Abu Ghirab, and Fauqi. Generally speaking, oil field development plans were put on hold following Iraq’s invasion of Kuwait, with Iraqi efforts focused on maintaining production at existing fields. At the present time, problems with Iraq’s refineries––stemming largely from post-war looting and sabotage in addition to power outages––continue to force the country to import gasoline, diesel, liquid petroleum gas (LPG), and other refined products from neighboring countries (Iran, Jordan, Kuwait, Syria, and Turkey). As of October 2004, Oil Minister Ghadban said that Iraqi gasoline imports were running around 40,000 bbl/d (mainly by truck), costing the country U. S. $60 million per month in direct costs. This does not include the additional cost of steep government subsidies on the consumer price of gasoline, which runs around 10 cents per gallon. It is estimated that overall direct and indirect oil subsidies cost Iraq U. S. $8 billion per year, with no indication as to when this problem might be resolved (Country Analysis Brief, March 2004). As a result, both countries are expected to benefit from the swapping agreement; Iraq will secure current and future needs of oil, benzene, and diesel and Kuwait will use the natural gas for the production of petrochemicals, electricity, and water while freeing up a substantial amount of oil for exportation. 4. 3. Swapping Businesses In 1997, PPG Industries, a specialty chemical company, exchanged its surfactants10 business for BASF’s packaging coatings business. This swap resulted in the growth of PPG’s portfolio and led to the expansion of geographic opportunities for the coating business. Moreover, this swap enabled PPG to become one of the world’s largest suppliers of package coating for food, aerosols, and other container and packaging applications. On the other hand, this business swap made it possible for BASF to expand its surfactants offerings for the food, personal care, and coatings industries (Gain, 1997). 9 10 Associated gas is found and produced in conjunction with oil. Surfactants are also known as wetting agents and may be liquids or powders. Surfactants are used in aqueous cleaners to provide detergency, emulsification, and wetting action. 4 Similarly, BP swapped its polyethylene glycol11 (PEG) ether brake fluid business for the butyl glycol ether12 (BGE) solvents operation belonging to Clariant, a Swiss specialty chemical company. However, this swapping deal was restricted only to the exchange of customer lists and contracts. No manufacturing units, staff, or cash transfer between the two companies took place. Clariant discontinued production of BGE at Gendorf, Germany, and BP discontinued manufacturing brake fluids at Lavera. The deal broadened the range of products that Clariant supplied to the automotive industry and enabled BP to better utilize the Lavera BGE plant (Alperowicz, 2001). 4. 4. Swapping Shipments During 2000, a swapping arrangement of liquid natural gas took place among Spain, Algeria, and Trinidad. Spain’s Gas Natural became the first European LNG buyer to resell LNG to the U. S. market. This gas had been sold to Gas Natural by Atlantic LNG of Trinidad. At the same time, Algerian LNG dedicated to the United States was delivered to Spain, reducing shipping charges for all parties. In 2001, these swaps developed into a more permanent arrangement with the signing of a contract between Sonatrach of Algeria, Gas Natural of Spain, Tractebel LNG North America in the United States, and Distrigas of Belgium. Companies with interests on both sides of the Atlantic gained an advantage over others, enabling them to react faster to any market opportunity (Gandolphe, 2002). Moreover, Nova Chemicals, a Canadian chemical company, and BASF entered a swap deal for styrene13 in which Nova supplied BASF in North America and BASF supplied Nova in Europe. This agreement provided each company with a stable supply of styrene without committing either one to significant investments. The deal also gave each company a low-cost styrene position for their PS (Sim, 2002). Another swap example is between world-class Indian polymer manufacturers Haldia Petrochemicals Ltd. (HPL) and GAIL Ltd. , India’s principal gas transmission and marketing company. The two companies entered into a product swapping and sharing arrangement that forced other polymer sellers in eastern and northern India to retreat from the market. Under this swapping agreement, both companies gained substantial savings on freight costs. Gail supplied HPL’s customers in northern India from its plant in Uttar Pradesh, and HPL served Gail’s customers in eastern and southeastern Asia by supplying them from the Haldia plant (Saha, 2003). 5. Conclusion More efficient and cost effective supply chain practices in the petroleum industry represent important factors for maintaining continuous supplies of crude oil, the reduction of lead times, and lowering of production and distribution costs. Due to the inflexibility involved in the petroleum industry’s supply chain network, logistics represent a great challenge. However, it is only one of several challenging factors. Integrated process management, information systems and information sharing, organizational restructuring, and cultural reorientation are equally important. Despite the great challenges in the petroleum industry’s supply chain, opportunities for improvements and cost savings do exist along the supply chain. One major area for improvement and cost savings lies in the logistics function. Companies in the petroleum industry have become increasingly reliant on the services of third-party logistics companies to manage their supply chains. Companies in the petroleum industry took the outsourcing idea a step further to collaborate with competitors and found shared solutions to their supply chain challenges. This form of collaboration is referred to as a systematic cooperative reciprocal barter, or swaps. Collaboration among competing companies in the form of swaps is a practice that can offer companies huge savings and introduce new opportunities. However, despite its wide use and benefits, especially in the oil and petrochemical industries, the subject has not received the attention it deserves in the operations management literature. Currently, judgmental methods and the aid of spreadsheets are the only approaches utilized when attempting swap decisions. Although great savings are realized by companies using swap practices, the 11 Polyethylene glycol is a non-toxic chemical used in a variety of products such as skin creams, toothpaste, shampoos, etc. 12 Butyl glycol ether is a widely-used solvent for many applications. 3 Styrene is a chemical molecule used in polystyrene manufacturing, the rubber industry, and the reinforced plastic industry. 95 approaches used for making such decisions cannot guarantee an optimal solution, and hence, opportunities to utilize the full capability of swap practices are not fully exploited. Therefore, the next step would be the utilization of management science techniques, presumably mathematic al/simulations models. These methods will significantly enhance the capability of such forms of collaboration and will represent valuable tools for practitioners to use. . Appendix: Production Process and Industry Background Crude oil and natural gas are the raw materials of the petroleum industry. They are used for the production of petrochemicals and other oil derivatives. After the production of crude oil is complete from oil reserves located deep underground or in sea beds, the crude oil undergoes a distillation14 process. As a result of the distillation process, various fractions of the crude oil are produced, such as fuel gas, liquefied petroleum gas (LPG), kerosene, and naphtha. 5 The output of the distillation process is then provided to refineries as feedstocks. These feedstocks are first processed through cracking16 operations before they are supplied to petrochemical plants. Once the cracking process is complete, companies are able to obtain new products that serve as the building blocks of the petrochemical industry, such as olefins (i. e. , mainly ethylene, propylene, and the so-called Carbon (C) derivatives, including butadiene) and aromatics, which include benzene, toluene, and the xylenes. After the cracking process, petrochemical products such as ethylene, propylene, butadiene, benzene, toluene, and the xylenes are then used at petrochemical plants to produce even more specialized products, such as plastics, soaps and detergents, healthcare products (such as aspirin), synthetic fibers for clothes and furniture, rubbers, paints, and insulating materials. References Alperowicz, N. (2001, August 29 – September 5). BP swap business with Clariant. Chemical Week, 163, 33. Alshalan, M. (2004, December 15). Iraqi gas to Kuwait and Kuwaiti benzene to Iraq. Alwatan, 10368/4814 – Year 43. Bianchi, M. (2003). Getting to the route. ACN: Asian Chemical News, September, 19. BP, Conoco swap Gulf of Mexico, Alaskan assets. (1993, November 15). Oil Gas Journal, 91, 46. Coia, A. (1999, July 12). Integrating oil’s supply chain. Traffic World, 259, 2. Collins, T. (1999, September 9). Striking it big together. Supply Management, 4, 18. Gain, B. (1997, August 27 – September 3). PPG, BASF swap businesses. Chemical Week, 159, 33. Gandolphe, S. (2002). Flexibility in natural gas supply and demand. International Energy Agency. Guimaraes, T. , Cook, D. , Natarajan, N. (2002). Exploring the importance of business clockspeed as a moderator for determinants of supplier network performance. Decision Sciences. 33, 4, Fall, 629. Haberman, D. I. , (2002, April 19). Petroleum swapping between oil giants â€Å"exchanges†: An elephant in our living room, Statement submitted to the Federal Trade Commission Second Conference re: Factors that Affect Price of Refined Petroleum Products. Hamilton, S. (2003, August). Must chemical companies outsource logistics to save money? GLSCS. Hebert, H. (2004, July 28th). Oil industry not building new plants. Arizona Daily Star. Tucson, Arizona. http://www. azstarnet. om/dailystar/starmedia/31783 Hull, B. (2001). A structure for supply-chain information flows and its application to the Alaskan crude oil supply chain. Logistics Information Management, 15, 1/2, 8. Ikram, A. (2004, November). Supply chain management in the oil and gas sector. Supply Chain Update, University of Wisconsin-Madison School of Business. Iraq Country Analysis Brief. (2004, March). Country Analysis Briefs, pp. 1-18. www. usiraqprocon. org/pdf/ eiacountryanalysis. pdf Japan marketers to Swap supplies. (1998, July 6). Oil Gas Journal, 96, 27. Jenkins, G. , Wright, D. (1998). Managing inflexible supply chains. International Journal of Logistics Management, 9, 2, 83. Lange, C. (2004, November). Extreme makeover: Supply chain edition. Chemical Market Report, 266, 16, 21. 14 15 Distillation is the separation of heavy crude oil into lighter groups (called fractions) of hydrocarbons. Naphtha is used in the production of gasoline and is the primary source from which petrochemicals are derived. 16 Cracking is the process of breaking down heavy oil molecules into lighter, more valuable fractions. 96 Milmo, S. (2001, July 23). BP bags Veba Oel following asset swap with E. ON. Chemical Market Reporter, 260, 4. Morton, R. (2003, October). Good chemistry in the supply chain. Logistics Today, 44, 10, 30. O’Dwyer, G. (1988, March 30). DSM, Kermira will swap plants. Chemical Week, 142, 13. Robert, B. (1995, July). A new dimension to shipping. Distribution, 94, 7. Robert, M. (1995, March 29). Hoechest, BP chemicals in PE swap. Chemical Week. Saha, S. (2003, November). Haldia’s Comeback. rediff. com. http://www. rediff. com/money/2003/nov/ 15haldia. htm. Schwartz, B. (2000, August). The crude supply chain. Transportation Distribution, 41, 8. Senge. (1990). The Fifth Discipline, the Art and Practice of the Learning Organization, Doubleday, New York, NY, Chapter 3. Sim, P. H. (2003, May 7). BASF Honeywell complete nylon swap. Chemical Week, 165, 17. Sim, P. H. (2002, August 14). Nova-BASF Styrene Swap â€Å"makes sense. † Chemical Week, 164, 32. Sterman, J. D. (1989). Modeling managerial behavior: Misconceptions of feedback in dynamic decision making experiment, Management Sciences, 355. 3, 321 – 39. Westervelt. R. (2002). Seeking greater supply chain efficiency through Whitfield, M. (2004, Sep 20 – Sep 26). A stronger link. European Chemical News, 81, 2116, R12. Young, I. (2005). Industry eyes big savings from supply chain collaboration. Chemical Week. Nov 2, 167, 36, 10. 97 How to cite Scm in Petroleum Industry, Papers

Outline of Research Paper Employees in the Organization

Question: Discuss about theOutline of Research Paperfor Employees in the Organization. Answer: Rough Draft The purpose of the study will be to find out the perception that the employee will have towards motivation. It will also show how the reward systems will help in effectively motivating the employees in the organization. This research is divided in to five chapters. The first chapter of the research will be focused on the introductory part with respect to the motivation of the employees. Chapter two is based on the different literatures on the reward and motivational factor with respect to the employees in the organization. The frameworks used in this theory with the rewards that acts as motivation will be used in this research such as the X and Y Theories of McGregor. In addition, the Hierarchy of Needs that has been explained by Maslow, the existence theory of Alderfer, the theory based on relatedness and growth (EGR), the acquired needs theory of McClelland and the two-factor theory of Herzberg. This chapter will also review the literature that has been proposed by the contemporary theorists such as the paradigm shift to humanistic approach with respect to management, which helps in employee motivation (Wang, Noe Wang, 2014). The end of the chapter will include the rewards and the incentives that are extrinsic and intrinsic. The third chapter will be based on the methodology that will be used for this research. The review on the literature will be based on the advantages and the disadvantages of the qualitative interviews that will be conducted with the use of questionnaires. The recruitment process and the sample size will be provided along with the other characteristics that are based on reliability and validity and confidentiality. The fourth chapter will be based on the interviewees from the various companies and industries that are present in Beaver County and Big Lakes County in Alberta, Canada. The last chapter will consist of the key factors and the problems with respect to motivating employees. According to Shields et al. (2015), employees need to be seen as individuals and not a homogenous entity, which will help in structuring the rewards to enhance their performances. Reference List Shields, J., Brown, M., Kaine, S., Dolle-Samuel, C., North-Samardzic, A., McLean, P., ... Plimmer, G. (2015).Managing Employee Performance Reward: Concepts, Practices, Strategies. Cambridge University Press. Wang, S., Noe, R. A., Wang, Z. M. (2014). Motivating knowledge sharing in knowledge management systems: A quasifield experiment.Journal of Management,40(4), 978-1009.

Self-esteem an Example of the Topic Psychology Essays by

Self-esteem Personality trait has long been the subject of many research studies. But perhaps, the most discussed personality trait that has generated a considerable amount of theoretical and empirical research is the topic of self-esteem. This paper seeks to further examine the nature of self-esteem through new conceptualizations of its properties and dimensions, and to explore how these new ideas in self-esteem research impact on a specific area of psychological well-being an inpiduals vulnerability to depression. Need essay sample on "Self-esteem" topic? We will write a custom essay sample specifically for you Proceed First, self-esteems definition is examined. According to Rosenberg (1965), self-esteem is the evaluation which the inpidual makes and customarily maintains with regard to himself; it expresses an attitude of approval or disapproval (p. 5). Most researchers who investigate self-esteem utilize this definition as a starting point for their own definition of self-esteem. Coopersmith (1967) states that self-esteem is the component of the self-concept that refers to .ones feelings of self-worth. Holland and Andre (1994) explains that self-esteem is how an inpidual perceive the value or sense of worth about their selves. As it is, self-esteem can be best defined as an inpiduals feelings of self-worth or self-regard. While it is necessary to define self-esteem, it is equally important to acknowledge the motivational aspect of self-esteem (especially this investigation deals with depression). Gecas (1991) maintains that because an inpidual has a self-concept, he will be motivated to maintain and enhance it, to conceive of it as efficacious and consequential, and to experience it as meaningful and real (p. 174). Gecas further explains that one way a person can do this is through the self-esteem motive. The self-esteem motive refers to a persons desire to view ones self favourably and behave in such a way that will maintain or enhance a favorable view of ones self. In short, self-esteem can be motivational. Motivation is that which gives direction to action and intensity and persistence to the directed action. Taking these two definitions into account, it can be said that a persons level of self-esteem dictates what types of behaviour that particular person may engage in. With this motivational aspect of self-esteem develops a debate that has long been the interest of many researches. There has been a long standing debate on the impact of self-esteem to an inpiduals psychological well-being, especially his vulnerability to depression. According to Whitley (1983), self-esteem is related to psychological well-being both empirically and theoretically; that is, high self-esteem is seen by clinicians to be a healthy and desirably characteristic and that many literatures has examined the connection of self-esteem to depression, anxiety, poor general adjustment, and self-referral to mental health professionals. One position in this debate sees self-esteem as a powerful influence on inpidual health and stability. Research in depression provides an example of evidence for a hypothesized protective factor of high self-esteem against the development of symptomatology. Although Becks (1967) theory of depression does not seem to be as emphatic on the idea that high self-esteem is a protective factor; it does suggest that low self-esteem results in a type of vulnerability to depressive symptoms. Beck also records the common finding people suffering from depression commonly express negative feelings about themselves, specifically feelings of worthlessness. A negative evaluation of the self forms one leg of Becks primary cognitive triad of depressive symptoms where the depressed inpidual not only sees himself as inferior, but he dislikes himself for it (p. 259). A connection between level of self-esteem and coexisting depressive symptoms has been recorded across many studies. Many researchers in psychology have adopted this position. Feathers (1985) study of the relations among gender roles, self-esteem, and depressions suggested that self-esteem may be as much as construction of Western, inpidualized culture as are masculinity and femininity. Feather found the widely reported negative correlation between masculinity and depression disappeared when the effects of self-esteem were controlled. This suggested that masculinity and self-esteem might reflect the same construct. Thus, according to Feather, ...self-esteem may reflect in part the dominant masculine values of Western-type cultures (p. 491). Thus, traits researchers attributed to self-esteem were in fact the same traits that researchers attributed to masculinity. Thus one who is masculine, goal- or action-oriented is reinforced for reflecting dominant cultural goals and by virtue of those traits is said to have high self-esteem. It is, however, still unclear as to what is assigned the protective factor against depression high self-esteem or adoption of male-oriented socially supported roles. In 1993, Andrews and Brown compared Rosenbergs (1965) SES to their interview measure. They called their measure the Self Evaluaton and Social Support scale (SESS). The SESS was designed to measure positive and negative self-evaluation using scales measuring personal attributes, role performance, and self-acceptance across occupational, domestic and interpersonal contexts. Andrews and Brown reported that the interview measure was more successful at predicting subsequent depression due to its focus on specific dimensions of self-dissatisfaction for each inpidual. Each interview was conducted by a researcher who gathered facts and coded emotional tone, salience, and frequency of positive and negative comments. This meant the interviewer was responsible for judging the relevance of information and emotional context for inclusion into the data set, comparing them with anchors, and then making ratings of self-esteem for the inpidual. This is clearly a more fluid, state-based approach to self-esteem. Andrews and Brown contrast this approach to the trait-based self-report questionnaires, which they hypothesize are handicapped by their demands on reliability and comparability of item responses across inpiduals. They argue that this focus of the trait-based measures is not sensitive to specific abilities or domain that have salience to the inpidual subject. However, since previous research demonstrates that the prediction of depressive symptoms from level of self-esteem is inconsistent, many researchers have begun looking at a different aspect of self-esteem for a better definition of its relationship with vulnerability to depressive symptoms. This they called the lability of self-esteem. Self-esteem lability is the tendency of an inpiduals self-esteem to fluctuate over time in response to environmental or social influences (Butler, Hokanson & Flynn, 1994). Butler et al. (1994) found that self-esteem lability is a better index of vulnerability to depression than trait or level-bases self-esteem (whether self-esteem is high or low). This research suggested that self-esteem lability interacts with daily events to produce depressive symptoms wherein an inpidual with labile self-esteem had a higher reactivity to life stressors than an inpidual with a more stable sense of self-esteem. Whisman and Kwon (1993) examined the role of self-esteem and hopelessness to life stress and dysphoria. They assessed eighty undergraduates on self-esteem, hopelessness, and dysphoria and reassessed them after three months on life events, daily hassles, hopelessness, and dysphoria (Whisman and Kwon, 1993). They found a significant association between residual change in dysphoria and self-esteem, life stress and an extreme interaction of both. Furthermore, they found that residual change in hopelessness mediated the relations between residual change in dysphoria and both self-esteem and life stress (Whisman and Kwon, 1993, abstract). These studies provide a reasonably solid basis upon which to advance the idea that self-esteem lability has a strong connection with vulnerability to depression. The models generally proposed using self-esteem lability follow a diathesis-stress structure in which an inpidual carries some kind of vulnerability to depressive symptoms that, while predisposing him to a depressive illness, will not develop into depression unless triggered by the correct environmental stressors. The vulnerability to illness is not enough to trigger expression of symptoms. Vulnerability and stressor must both be present at sufficient levels and interact to produce depressive symptoms. The existing research literature is generally supportive of the role of social self-esteem in prediction of depressive symptoms. Many models of depressive vulnerability use the concept of reliance upon external sources for self-esteem or social comparison as a diathesis for future illness. However, there are substantive differences for the relation of personal relevance of this concept. For inpiduals endorsing low levels of social esteem relevance, depressive symptoms were predicted by adverse events and an interaction of social self-esteem and self-esteem lability. Further analysis of the relation between the variables in this interaction term revealed a negative relationship between these variables. This would suggest that for inpiduals endorsing low relevance of social self-esteem, high levels of lability may have a predictive relationship with depressive symptoms when those inpiduals experience low levels of self-esteem derived from social sources. For inpiduals endorsing high relevance of social esteem, depressive symptoms were predicted through an interaction of social self-esteem level and adverse events. While exploratory at this time, these findings would seem to leave little doubt that social self-esteem and its centrality to the inpidual have important effects in a model of vulnerability to depressive symptoms. References Andrews, B., & Brown, G. W. (1993). Self-esteem and vulnerability to depression: The concurrent validity of interview and questionnaire measures. Journal of Abnormal Psychology, 102, 565-572. B.E. Whitley, J. (1983). Sex role orientation and self-esteem: A critical meta-analytic review. Journal of Personality and Social Psychology, 44(765-778). Beck, A. (1967). Depression: Clinical, experimental, and theoretical aspects. London: Staples. Butler, A. C., Hokanson, J. E., & Flynn, H. A. (1994). A comparison of self-esteem lability and low trait self-esteem as vulnerability factors for depression. Journal of Personality and Social Psychology, 66, 166-177. Coopersmith, S. (1967). The antecedents of self-esteem. San Francisco: W.H. Freeman and Company. Feather, N. T. (1985). Masculinity, femininity, self-esteem, and subclinical depression. Sex Roles, 12, 491-500. Gecas, V. (1991). The self-concept as a basis for a theory of motivation. In J. A. Howard & P. L. Callero (Eds.), The self-society dynamic: Cognition, emotion, and action (pp. 171-187). New York: Cambridge University Press. Holland, A., & Andre, T. (1994). The relationship of self-esteem to selected personal and environmental resources of adolescents. 29(114), 345-360. Rosenberg, M. (1965). Society and the adolescent self-image. Princeton: Princeton University Press. Whisman, M. A., & Kwon, P. (1993). Life stress and dysphoria: The role of self-esteem and hopelessness. Journal of Personality and Social Psychology, 65(5), 1054-1060.

Self-esteem an Example of the Topic Psychology Essays by

Self-esteem Personality trait has long been the subject of many research studies. But perhaps, the most discussed personality trait that has generated a considerable amount of theoretical and empirical research is the topic of self-esteem. This paper seeks to further examine the nature of self-esteem through new conceptualizations of its properties and dimensions, and to explore how these new ideas in self-esteem research impact on a specific area of psychological well-being an inpiduals vulnerability to depression. Need essay sample on "Self-esteem" topic? We will write a custom essay sample specifically for you Proceed First, self-esteems definition is examined. According to Rosenberg (1965), self-esteem is the evaluation which the inpidual makes and customarily maintains with regard to himself; it expresses an attitude of approval or disapproval (p. 5). Most researchers who investigate self-esteem utilize this definition as a starting point for their own definition of self-esteem. Coopersmith (1967) states that self-esteem is the component of the self-concept that refers to .ones feelings of self-worth. Holland and Andre (1994) explains that self-esteem is how an inpidual perceive the value or sense of worth about their selves. As it is, self-esteem can be best defined as an inpiduals feelings of self-worth or self-regard. While it is necessary to define self-esteem, it is equally important to acknowledge the motivational aspect of self-esteem (especially this investigation deals with depression). Gecas (1991) maintains that because an inpidual has a self-concept, he will be motivated to maintain and enhance it, to conceive of it as efficacious and consequential, and to experience it as meaningful and real (p. 174). Gecas further explains that one way a person can do this is through the self-esteem motive. The self-esteem motive refers to a persons desire to view ones self favourably and behave in such a way that will maintain or enhance a favorable view of ones self. In short, self-esteem can be motivational. Motivation is that which gives direction to action and intensity and persistence to the directed action. Taking these two definitions into account, it can be said that a persons level of self-esteem dictates what types of behaviour that particular person may engage in. With this motivational aspect of self-esteem develops a debate that has long been the interest of many researches. There has been a long standing debate on the impact of self-esteem to an inpiduals psychological well-being, especially his vulnerability to depression. According to Whitley (1983), self-esteem is related to psychological well-being both empirically and theoretically; that is, high self-esteem is seen by clinicians to be a healthy and desirably characteristic and that many literatures has examined the connection of self-esteem to depression, anxiety, poor general adjustment, and self-referral to mental health professionals. One position in this debate sees self-esteem as a powerful influence on inpidual health and stability. Research in depression provides an example of evidence for a hypothesized protective factor of high self-esteem against the development of symptomatology. Although Becks (1967) theory of depression does not seem to be as emphatic on the idea that high self-esteem is a protective factor; it does suggest that low self-esteem results in a type of vulnerability to depressive symptoms. Beck also records the common finding people suffering from depression commonly express negative feelings about themselves, specifically feelings of worthlessness. A negative evaluation of the self forms one leg of Becks primary cognitive triad of depressive symptoms where the depressed inpidual not only sees himself as inferior, but he dislikes himself for it (p. 259). A connection between level of self-esteem and coexisting depressive symptoms has been recorded across many studies. Many researchers in psychology have adopted this position. Feathers (1985) study of the relations among gender roles, self-esteem, and depressions suggested that self-esteem may be as much as construction of Western, inpidualized culture as are masculinity and femininity. Feather found the widely reported negative correlation between masculinity and depression disappeared when the effects of self-esteem were controlled. This suggested that masculinity and self-esteem might reflect the same construct. Thus, according to Feather, ...self-esteem may reflect in part the dominant masculine values of Western-type cultures (p. 491). Thus, traits researchers attributed to self-esteem were in fact the same traits that researchers attributed to masculinity. Thus one who is masculine, goal- or action-oriented is reinforced for reflecting dominant cultural goals and by virtue of those traits is said to have high self-esteem. It is, however, still unclear as to what is assigned the protective factor against depression high self-esteem or adoption of male-oriented socially supported roles. In 1993, Andrews and Brown compared Rosenbergs (1965) SES to their interview measure. They called their measure the Self Evaluaton and Social Support scale (SESS). The SESS was designed to measure positive and negative self-evaluation using scales measuring personal attributes, role performance, and self-acceptance across occupational, domestic and interpersonal contexts. Andrews and Brown reported that the interview measure was more successful at predicting subsequent depression due to its focus on specific dimensions of self-dissatisfaction for each inpidual. Each interview was conducted by a researcher who gathered facts and coded emotional tone, salience, and frequency of positive and negative comments. This meant the interviewer was responsible for judging the relevance of information and emotional context for inclusion into the data set, comparing them with anchors, and then making ratings of self-esteem for the inpidual. This is clearly a more fluid, state-based approach to self-esteem. Andrews and Brown contrast this approach to the trait-based self-report questionnaires, which they hypothesize are handicapped by their demands on reliability and comparability of item responses across inpiduals. They argue that this focus of the trait-based measures is not sensitive to specific abilities or domain that have salience to the inpidual subject. However, since previous research demonstrates that the prediction of depressive symptoms from level of self-esteem is inconsistent, many researchers have begun looking at a different aspect of self-esteem for a better definition of its relationship with vulnerability to depressive symptoms. This they called the lability of self-esteem. Self-esteem lability is the tendency of an inpiduals self-esteem to fluctuate over time in response to environmental or social influences (Butler, Hokanson & Flynn, 1994). Butler et al. (1994) found that self-esteem lability is a better index of vulnerability to depression than trait or level-bases self-esteem (whether self-esteem is high or low). This research suggested that self-esteem lability interacts with daily events to produce depressive symptoms wherein an inpidual with labile self-esteem had a higher reactivity to life stressors than an inpidual with a more stable sense of self-esteem. Whisman and Kwon (1993) examined the role of self-esteem and hopelessness to life stress and dysphoria. They assessed eighty undergraduates on self-esteem, hopelessness, and dysphoria and reassessed them after three months on life events, daily hassles, hopelessness, and dysphoria (Whisman and Kwon, 1993). They found a significant association between residual change in dysphoria and self-esteem, life stress and an extreme interaction of both. Furthermore, they found that residual change in hopelessness mediated the relations between residual change in dysphoria and both self-esteem and life stress (Whisman and Kwon, 1993, abstract). These studies provide a reasonably solid basis upon which to advance the idea that self-esteem lability has a strong connection with vulnerability to depression. The models generally proposed using self-esteem lability follow a diathesis-stress structure in which an inpidual carries some kind of vulnerability to depressive symptoms that, while predisposing him to a depressive illness, will not develop into depression unless triggered by the correct environmental stressors. The vulnerability to illness is not enough to trigger expression of symptoms. Vulnerability and stressor must both be present at sufficient levels and interact to produce depressive symptoms. The existing research literature is generally supportive of the role of social self-esteem in prediction of depressive symptoms. Many models of depressive vulnerability use the concept of reliance upon external sources for self-esteem or social comparison as a diathesis for future illness. However, there are substantive differences for the relation of personal relevance of this concept. For inpiduals endorsing low levels of social esteem relevance, depressive symptoms were predicted by adverse events and an interaction of social self-esteem and self-esteem lability. Further analysis of the relation between the variables in this interaction term revealed a negative relationship between these variables. This would suggest that for inpiduals endorsing low relevance of social self-esteem, high levels of lability may have a predictive relationship with depressive symptoms when those inpiduals experience low levels of self-esteem derived from social sources. For inpiduals endorsing high relevance of social esteem, depressive symptoms were predicted through an interaction of social self-esteem level and adverse events. While exploratory at this time, these findings would seem to leave little doubt that social self-esteem and its centrality to the inpidual have important effects in a model of vulnerability to depressive symptoms. References Andrews, B., & Brown, G. W. (1993). Self-esteem and vulnerability to depression: The concurrent validity of interview and questionnaire measures. Journal of Abnormal Psychology, 102, 565-572. B.E. Whitley, J. (1983). Sex role orientation and self-esteem: A critical meta-analytic review. Journal of Personality and Social Psychology, 44(765-778). Beck, A. (1967). Depression: Clinical, experimental, and theoretical aspects. London: Staples. Butler, A. C., Hokanson, J. E., & Flynn, H. A. (1994). A comparison of self-esteem lability and low trait self-esteem as vulnerability factors for depression. Journal of Personality and Social Psychology, 66, 166-177. Coopersmith, S. (1967). The antecedents of self-esteem. San Francisco: W.H. Freeman and Company. Feather, N. T. (1985). Masculinity, femininity, self-esteem, and subclinical depression. Sex Roles, 12, 491-500. Gecas, V. (1991). The self-concept as a basis for a theory of motivation. In J. A. Howard & P. L. Callero (Eds.), The self-society dynamic: Cognition, emotion, and action (pp. 171-187). New York: Cambridge University Press. Holland, A., & Andre, T. (1994). The relationship of self-esteem to selected personal and environmental resources of adolescents. 29(114), 345-360. Rosenberg, M. (1965). Society and the adolescent self-image. Princeton: Princeton University Press. Whisman, M. A., & Kwon, P. (1993). Life stress and dysphoria: The role of self-esteem and hopelessness. Journal of Personality and Social Psychology, 65(5), 1054-1060.

Writing the Century

Writing the Century Writing the Century Writing the Century By Maeve Maddox Melvin Merzon sets me this multi-part question: How would you write 21st Century?  In a legal document? In a business letter? In fiction? In   a   nonfiction context?    21st Century? 21st century? Twenty-first Century? Twenty-First Century? twenty-first century? My short answer for all specified contexts is twenty-first century. Unless the name of the century begins a sentence or is part of a proper name, it is written in all lowercase letters: We are living in the twenty-first century. When a century is part of a proper name, no hard and fast rule can apply. Someone naming a program, company or a book may express the century any way they wish: Twenty-first Century Scholars Twenty-First Century Foundation Twenty-First-Century Gateways (In this book title the century name has become an adjective.) 20th Century Fox Century 21 Realty Newspaper headline writers may also exercise freedom when writing the century: New Year Rings in 21st Century Bottom line: go with twenty-first century unless there is some reason not tofor example, contrary guidelines in a style manual you are required to follow. Writing the Decades Decades may be spelled out or expressed in numerals: the eighties the 1980s NOTE: Theres no apostrophe between the numerals and the letter s. The same rule about capitalization applies to decades as to centuries: if the decade is part of a proper name or title, it will be capitalized; otherwise leave it in lowercase. For example, write the nineties, but the Gay Nineties Referring to the first two decades of a century can be tricky. For example, if you want to talk about the first decade of the century, you cant write the 1900s, or the 2000s because too many readers would assume youre referring to the entire century. Another problem is that not all authors agree as to what years are included in a decade. Is the first decade of the 1900s 1900 to 1909, or 1900-1910? And what about the second decade? Some writers talk about the teens of a century, but what about the years ending in -10, -11, and -12? When writing about the first two decades of a century, its probably best to be a little wordy for the sake of clarity. For example: History seemed to repeat itself in the decade 2000-2009. 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 Writing Basics category, check our popular posts, or choose a related post below:Comparative Forms of AdjectivesBody Parts as Tools of Measurement35 Synonyms for Rain and Snow

Chevron Corporation Case Study Example | Topics and Well Written Essays - 4250 words

Chevron Corporation - Case Study Example The company owns or has stakes in 9,700 gas stations in the US which operate under the Chevron and Texaco brands. Outside the US it owns or has stakes in 15,400 gas stations, which also use the Caltex brand. The study examines in detail, the three different sectors or industries that Chevron has a stake in: oil and gas exploration and production, petroleum refining, and chemical industry. Earnings for the upstream segment are closely aligned with industry price levels for crude oil and natural gas. Crude oil and natural gas prices are subject to external factors over which the company has no control. Earnings for the downstream segment are closely tied to margins on the refining and marketing of products that include gasoline, diesel, jet fuel, lubricants and fuel oil. The company recorded sales growth of 5.1 percent to $221 billion and net income of $18 billion. Revenue of the company rose to $61.4 billion from $47.7 billion. Worldwide oil-equivalent production fell by 42,000 barrels to 2.61 million barrels per day. A detailed SWOT Analysis has also been conducted in the study, analyzing the various internal sources to examine the strengths and weaknesses, and external factors to examine the opportunities and threats in the environment. Finally, the conclusion and recommendations analyze the different strengths of the company to offset the weaknesses and environmental threats faced by Chevron. Chevron - Company overview Chevron Corporation (Chevron) is one of the largest oil refiners in the United States. The company was incorporated in 1926 and currently has operations in the United States and approximately 180 additional countries. Chevron Corporation, then called Standard Oil Company of California, in 1938 made a huge oil discovery in Saudia Arabia, which eventually led to the discovery of 52 oil fields. After World War II, the company began a major effort to market Arabian crude oil, which was probably the single most important factor in establishing Chevron as a major multinational company. The company acquired thousands of service stations and terminals on the East Coast and part ownership of many more throughout Europe, East Africa, and Asia. The Chevron discovery changed the course of history throughout the world (Jiffynotes, 1998). Today, the company is engaged in every aspect of the oil and natural gas industry, including exploration and production, refining, marketing and transportation, chemicals manufacturing and sales, geothermal and power generation. It is headquartered in San Ramon, California and employs approximately 65,000 people. The company recorded revenues of $204,892 million, during the fiscal year ended December 2006, an increase of 5.8% over 2005. The operating profit of the company was $32,497

Strategic Management Unit 5 IP Assignment Example | Topics and Well Written Essays - 1500 words

Strategic Management Unit 5 IP - Assignment Example A business is as good as its planning, controlling and implementation. During this study different strategic discussions will be there which would help the company to keep its footsteps in the Tennessee market. Strengths: - It is a very well known company throughout the USA. As it is very well known people can easily recall its name. Management of the company would not find any problem regarding their recognition of their products. Company makes good quality of musical instruments. Products are of very high quality. Customers are very stratified with the products made by company. Quality assurance is a real strength for the company. Price ranges of their products are also well within the reach of normal customers. Company is having a great pool of experienced work force. Tools Corp Corporation is having great after sales services facilities for their customers. After sales service is also a great strength for the company. Weakness: - Modern day musical instruments companies are coming up with different kinds of innovative products. Company is having certain set of products. Company is lacking in innovative products. Company has lesser stocks of products for sudden demand in the market. Company’s total working model is not that much technically advanced like other companies in the industry. Company is over dependent on one or two vendors. Every other player in the industry are giving importance to promotion and branding. Company is lacking in this aspect also. Opportunities: - Tennessee is a music loving state. People here are very fond of their music. As a musical instrument company it would create lots of opportunity for the company. Opportunities are very high as cost-effective musical instrument companies are in few numbers in this market. Whole lot of middle income people of Tennessee can be opportunity for the company. New and young people are making new bands. These types of new budding members of the state can be opportunity for the

Fox's Book of Martyrs Religious Essay Example | Topics and Well Written Essays - 1000 words

Fox's Book of Martyrs Religious - Essay Example The main objective of writing this book is to attack the Roman Catholic Church and it' s hypocritical values. The writer has given detailed accounts of the corruption in the Roman Catholic Church and also the illegal or unethical ways; the Popes resorted to, to attain the position of Pope. The motive behind writing this book was to create awareness amongst the masses to rise against the tyrannical rule of the Romans. Fox himself was the victim of the unjust rule of the king and the notorious Bishop. Bishop had made an unsuccessful attempt of nabbing Fox and persecuting him. He was lucky enough to escape from his country. Being the witness of such gruesome incidents, he was provoked to write a book, and he did this with utmost dedication and sincerity. He even neglected his health and continued writing for this noble cause. The book speaks of the atrocities of Queen Mary on the Protestants and about the cruel Bishop Bonner. It was only after the accession of Queen Mary to the throne t hat the reign of terror began. For the sake of restoring the supremacy of the Roman Empire and the Roman Catholic Church, she ordered the persecution of those who protested against her power and Roman Catholicism. Hundreds of Protestants were burnt alive during her reign. It is really ironical that both the Romans and the Protestants fought in the name of God but Romans followed the unethical way and massacred those who followed the right path as directed by God. Although they shared common values, their motive was eclipsed by the vices like that of thirst for power and they adopted immoral ways to restore their supremacy. Thus this book not only deals with the tyranny of the Romans but also it speaks about the bravery of the martyrs who sacrificed their lives for the sake of their God and his Gospels. This book appeals not only to the heart but also to the head or mind of every Englishmen. The work of Fox was so appealing and so realistic that it was ordered that his work be displa yed along with the Bible in the churches and all public places where people could read the book. During the reign of Queen Elizabeth I, the Englishmen accepted this book as an expression of national faith, second in place to the Bible. Whenever an Englishman entered any church, he discovered for himself about the ruthless behavior of Roman Catholics and about the valor of the Martyrs. The aim of this book was not merely to glorify the Protestants and undermine the Romans, but also about the human values as a whole as suggested by the Almighty. In the first part of the book, in the early Christian days we come across the saints like St. Stephen, James The Great, St. Luke, St. Philip, St. Mathew, James The Less, St. Peter and St. Paul etc. St. Stephen was stoned to death by the murderers of Christ, just because he tried to preach the Gospels of Christ to them in a faithful manner. Immediately after the persecution of St. Stephen all those who professed their beliefs in Jesus Christ as their Lord, had to face martyrdom. After 10 years of the persecution of St. Stephen, James the Great was beheaded. He was the son of Zebede and relative of Christ. He was beheaded by Herod Agrippa, the Governor of Judea. Agrippa used the strategy of attacking the leaders of the

SREI India Financial and SWOT Analysis

SREI India Financial and SWOT Analysis OBJECTIVE OF THE PROJECT: To develop and understanding of the Non-Banking Financial Institutions (NBFIs) and their business operations in India. To do a detailed research on SREI Equipment Finance Private Limited, its market share and the SWOT analysis. To thoroughly review SREIs credit appraisal and credit management process. To understand the risk management process of the company. To gain a detailed knowledge of the parameters that affects various risks. To determine weightages and scores for designing and developing risk assessment model based on market forces for assessing SREIs Customers. METHODOLOGY: In order to achieve the said objectives, will be to go through the entire NBFs history, thrust areas; growth opportunities, present scenario. This will be the ongoing process and will be done using internet, news and books. To understand the functioning of SREI pertaining to credit risk management and appraisal process followed for financing large corporates (risk exposures more than Rs.5 crores). Factual data, credit appraisal memorandum prepared by the company and the credit risk policy of the company will be referred in this regard. Then comes the technical part of conducting Balance Sheet Analysis, Ratio Analysis and Cash Flow Analysis. To propose a statistical credit rating model, data have been collected from credit officers and the relationship managers in the institution. Financial ratios were used to measure the strength of the customer. Score model for assessing risk to convert responses to scores. Weighted average method applied to assign appropriate importance to various parameters. LIMITATIONS OF THE STUDY: The study will only be focusing on the LARGE CORPORATES (risk exposure more than Rs.5 crores) not the retail and SME sectors of SREI. Study is on the basis of first-hand information collected from employees/head of the division of the company that might be incorrect or biased. Duration of the internship imparts the pressure of covering this vast spectrum in a limit period of 14 weeks. The accuracy of the Risk Assessing Model depends on the accuracy of information provided by the customer. The risk rating model doesnt take into the consideration where in the company doesnt follow the rules norms strictly. The relationships with the customers are given more importance. INDUSTRY ANALYSIS: Structure of Indias Financial Services Industry: The RBI, the central banking and monetary authority of India, is the central regulatory and supervisory authority for the Indian financial system. SEBI and IRDA regulate the capital markets and insurance sector, respectively. A variety offinancial intermediaries in the public and private sectors participate in Indias financial sector, including the following: Commercial banks; NBFCs; Specialised financial institutions like NABARD, EXIM Bank, SIDBI and TFCI; Securities brokers; Investment banks; Insurance companies; Mutual funds; and Venture capital. NON-BANKING FINANCIALCOMPANIES: Non-banking financial companies (NBFCs) are fast emerging as an important segment of Indian financial system. It is an heterogeneous group of institutions (other than commercial and co-operative banks) performing financial intermediation in a variety of ways, like accepting deposits, making loans and advances, leasing, hire purchase, etc. They raise funds from the public, directly or indirectly, and lend them to ultimate spenders. They advance loans to the various wholesale and retail traders, small-scale industries and self-employed persons. Thus, they have broadened and diversified the range of products and services offered by a financial sector. Gradually, they are being recognized as complementary to the banking sector due to their customer-oriented services; simplified procedures; attractive rates of return on deposits; flexibility and timeliness in meeting the credit needs of specified sectors; etc. The working and operations of NBFCs are regulated by the Reserve Bank of India (RBI) within the framework of the Reserve Bank of India Act, 1934 (Chapter III B) and the directions issued by it under the Act. As per the RBI Act, a non-banking financial company is defined as:- (i) a financial institution which is a company; (ii) a non-banking institution which is a company and which has as its principal business the receiving of deposits, under any scheme or arrangement or in any other manner, or lending in any manner; (iii) such other non-banking institution or class of such institutions, as the bank may, with the previous approval of the Central Government and by notification in the Official Gazette, specify. NBFCs VsBANKING SECTOR IN INDIA: Non-Banking Finance Companies (NBFCs) are an integral part of the countrys financial system complementing theservices of commercial banks. The main reason attributed to the growth of NBFCs is the comprehensive regulation of thebanking system. Other factors include higher level of customer orientation, lesser pre/post sanction requirements andhigher rates of interest on deposits being offered by NBFCs. NBFCs have traditionally been extending credit across various parts of the country through their geographical presence,with NBFCs being a supplier of credit to segments such as equipment leasing, hire purchase, and consumer finance. Theseare areas which warrant infusion of financing due to the existing demand-supply gap. NBFCs have been a more flexiblesource of financing and have been able to disburse funds to a gamut of client, from the local common man to a varietyof corporate client. NBFCs are also able to accelerate the pace of decision making to disburse funds, customise andtailor their products according to the client needs and take on excess risks on their portfolio. NBFCs can be divided intodeposit taking NBFCs, i.e., which accept deposits from public and non-deposit taking NBFCs being those which do notaccept deposits from public. The activities carried out by NBFCs in India can be grouped as under The types of NBFCs registered with the RBI are:-  § Equipment leasing Company: is any financial institution whose principal business is that of leasing equipment or financing of such an activity.  § Hire-purchase Company:is any financial intermediary whose principal business relates to hire purchase transactions or financing of such transactions.  § Loan Company: means any financial institution whose principal business is that of providing finance, whether by making loans or advances or otherwise for any activity other than its own (excluding any equipment leasing or hire-purchase finance activity).  § Investment Company: is any financial intermediary whose principal business is that of buying and selling of securities. Now, these NBFCs have been reclassified into three categories:-  § Asset Finance Company (AFC)  § Investment Company (IC) and  § Loan Company (LC). Under this classification, AFC is defined as a financial institution whose principal business is that of financing the physical assets which support various productive/economic activities in the country. GOVERNMENT ROLE IN PROMOTING INFRASTRUCTURE FINANCE: Infrastructure is expected to be a key area of growth in a developing country like India. The Government has been activelypromoting the countrys infrastructure through a sustained focus on area like power, roads, ports and urbantransportation. Private sector participation through public private partnerships as well as privately funded projects isbeing encouraged in order to enable quick scale up of governments efforts and better management. As per PlanningCommissions estimates the investments in infrastructure during the Tenth Plan aggregated to Rs. 4, 52,900 crores whichis expected to increase to Rs. 11, 25,000 crores in the Eleventh Plan. The chart below describes the anticipated andestimated investments under the two plans respectively. PROJECTED INVESTMENT IN INFRASTRUCTURE in the 11th FIVE YEAR PLAN: COMPANY PROFILE: A started operation in 1989, Srei is a leading infrastructure focused private sector Non-Banking Financial Company (NBFC) in India. It is currently the only institution in India offering holistic infrastructure solutions financing, advisory services development. Milestones Achieved: 1989 Started operations and identified the infrastructure sector as its core Business area. 1992 Initial Public Offering with listing on all major stock exchanges. 1997 IFC, FMO DEG invested as strategic equity partners Promoters stake. 2002 Conceived Quippo, Indias first equipment bank. 2004 All India presence, currently 63 offices. 2005 First Indian NBFC to be listed on the London Stock Exchange. 2006 Geographical expansion into Russia; equity partners EBRD, DEG, FMO. 2007 Joint venture with BNP Paribas Lease Group, 100% subsidiary of BNP Paribas. 2008 Holistic Infrastructure Institution, financing, advisory services Development. Services: Ø Infrastructure Equipment Financing Leasing Ø Infrastructure Project: Financing, Advisory services and development Ø Insurance Broking Ø Venture Capital Ø Capital market Ø Sahaj e-village Ø Quippo Equipment Bank GROUP STRUCTURE: About Srei Equipment Finance Private Limited: Srei BNP Paribas (Registered name: Srei Equipment Finance Private Limited) is a 50:50 joint-venture between Srei Infrastructure Finance Limited, Indias leading and only private sector Non-Banking Financial Institution in the infrastructure space and BNP Paribas Leasing Solutions(BPLS), a wholly owned subsidiary of BNP Paribas, France. Srei BNP Paribas started its operation from January 01, 2008 with the infrastructure and construction equipment financing and insurance businesses and has further plans to expand its business to new verticals. Industry leader in the infrastructure and construction equipment financing, Srei BNP Paribas is aptly benefitting from the Indian expertise and insight of Srei and global leasing insight in diverse product classes of BNP Paribas. Srei BNP Paribas has deep insight on diverse equipment used in the infrastructure and construction sector and acts a valuable advisor to its customers. It has tied up with all the leading equipment manufacturers. Over the years, Srei BNP Paribas has been innovating new marketing programs bringing together the manufacturers and customers on a single platform, creating immense value and sharing this value with all the stake holders. Paison Ki Nilami and Srei BNP Paribas Partnership Week are two such prominent programs. Srei BNP Paribas has already started financing Technology Solutions (financing of IT equipment, software and services) and has effectively partnered with leading global IT vendors for financing their customers. It has also forayed into financing of new Equipment classes: Agriculture Equipment, Healthcare Equipment, Office Automation, and Equipment in Education sector etc. With its foray into new equipment classes, Srei BNP Paribas has become probably the one and only Company to offer complete Equipment Solutions. With a customer base of over 20,000, Srei BNP Paribas has grown from strength to strength enjoying a strong national presence with a network of 86 offices across India. VISION: To be the most inspiring global holistic infrastructure institution. MISSION: To be an Indian multinational company providing innovative integrated infrastructure solutions. CORE VALUES: Customer Partnership: At Srei, customer satisfaction is the benchmark for success. Srei delights its customers through a comprehensive range of financial services that are personalized, fast, reliable, convenient, quality driven, and yet cost effective. Integrity: Business integrity is a way of life at Srei. The company strongly stands by integrity in all its dealings and ensures strict adherence to the highest standards of business ethics. Passion for Excellence: Sreis passion for excellence is instrumental in positioning the company as the most innovative infrastructure solution provider in India. Respect for People: Srei acknowledges the fact that its people are its most valuable assets and accordingly provides the best possible work environment and treats them like family members. The company rewards excellence and initiative. Stakeholder Value enhancement: Srei is committed to earning the trust and confidence of all its stake holders. Its growth focus, the ability to constantly enlarge its product basket while controlling risk and reducing the cost of its services have resulted in enhanced value for its stakeholders. Professional Entrepreneurship: Sreis in depth knowledge of infrastructure financing business in India, coupled with its spirit of entrepreneurship, and helps the company to overcome the obstacles and complexities with professional expertise. MANUFACTURING PARTNERS: MARKET SHARE OF SREI BNP PARIBAS: Source: Company. MAJOR COMPETITORS: 1. MAGMA FINCORP LIMITED: Magma Fincorp Ltd (Magma) is a Kolkata based asset financing company. The company is engaged in financingof commercial vehicles, cars, construction equipment, tractors and utility vehicles.The companys target customers are mostly first time users and small entrepreneurs. The Company provides construction equipment finance across retail and strategic customer segments. In the retail segment, it focuses on first-time buyers and small customers. The Company has established contracts with large value vendors addressing multiple projects. It finances a range of construction equipment like excavators, backhoe loaders, compactors, compressors, cranes, tippers and drillers of prominent brands like JCB, Telcon, LT, Ingersoll-Rand, Caterpillar, ECEL, Escorts and Atlas Copco etc. Magma provides unsecured EMI-based loans to SMEs for working capital, business expansion and business maintenance. It has developed proprietary financial analysis tools to make safe credit assessments. The share of this segment is increasing in the total disbursements (5% in FY10). Going forward the company intends to maintain the proportion of these loans at 5% and would adopt a cautious approach while lending. In Commercial Vehicle Finance Segment, Magma provides loans on used commercial vehicles and construction equipment. Magma refinanced popular models of Tata Motors and Ashok Leyland. Magma Fincorp predominantly was engaged in financing of construction equipment and passenger cars, utility vehicles and commercial vehicles (CVs). These business verticals accounted for 90% of the companys disbursements in FY10. Recently the company has ventured into high-yield segments, viz; financing of used CVs, tractors and SME loans. Most of the loans disbursed are retail loans and have small ticket size except in the construction equipment segment. MFL has a concentrated focus on the under tapped semi urban and rural market to finance first time users, Small Road Transport operators, small contractors etc. 2. TATA CAPITAL: The Company was incorporated on March 8, 1991 and actively commenced business operations since September, 2007. The Company is a wholly owned subsidiary of Tata Sons Limited, the apex holding company of the Tatas. Their fund based businesses comprise Corporate Finance, Infrastructure Finance and Retail Finance fee based businesses comprise investment banking, broking and distribution, wealth management, private equity, treasury advisory, services relating to travel, forex and infrastructure. With the wide array of products and customized service, the commercial finance business, helps small, medium and large corporates grow their business. The companys team of handpicked professionals offers in-depth expertise to help customers keep pace with the changing marketplace and offer them appropriate solutions to meet their ever-growing financial needs. The companys management structure enables them to leverage relationships across lines of our businesses. Their product knowledge and multi-channel delivery model enhances the ability to cross-sell the companys services. TATA Capital is in the advanced stages of setting up institutional broking, insurance broking and rural finance businesses which would supplement the aforementioned lines of business. TATA Capital believes that the following are the key strengths: Unified financial services platform; Diversified and balanced mix of businesses; Experienced management team; Innovative solutions model; Respected brand; Controls, processes and risk management systems; and Access to capital. 3. LT FINANCE LIMITED: LT Finance Limited (LTF) is a subsidiary of Larsen and Toubro. It was incorporated as a Non-Banking Finance Company in November 1994. Through LTF, LT aims at making a strong foray in the ever-expanding financial services sector.LT Finance understands the intricacies of your business. We at LT Finance offer financing for your Construction Equipment in the form of term loans, working capital loan and operating lease facilities. In 1996, LT Finance had made a foray in financing of commercial vehicles. LT Finance offers financing Commercial Vehicles of all makes and sizes. We also undertake funding of the body for the Commercial Vehicles. LT Finance has an extensive network from where you can easily avail financing for your Commercial Vehicle. Advantages of partnering with LT Finance Presence in more than 70 locations Flexible repayment option Competitive interest rates Finance for used vehicles available Faster loan approval and disbursement A brief Comparison between SREI EQUIPMENT FINSNCE its Competitors: REASON FOR THE JOINT VENTURE WITH BNP PARIBAS LEGAL SOLUTIONS: Mr.HemantKanoria, Vice Chairman and Managing Director of SREI, termed this joint venture as a very significant step in the Indian Financial Services Market. â€Å"We are the largest player in the financing of infrastructure equipment and collaborating with BPLG will help in increasing our market share further and also expanding the product line into financing of agriculture, information technology, medical and other equipment.† Speaking at the occasion Mr. Bertrand Gousset, member of the Executive Committee of BPLG, in charge of Corporate Development, said, â€Å"We are delighted to be associated with the SREI group, who are the leaders in the financing of infrastructure equipment and provide a wide range of equipment finance products to large strategic clients as well as to retail customers, with pan-India coverage. This joint venture is very significant for us and we look forward to a long and prosperous association with them.† Mr. Sunil Kanoria said, â€Å"This joint venture signifies the coming together of two companies with the same shared values. Both SREI and BPLG are convinced that they are well positioned to build on the already strong platform established by SREI and that this will enable in reduction in cost of funds resulting in higher profitability.† Mr.Amoudru, CEO of BNP Paribas India and Head of Territory, said The acquisition of a 50% stake in this joint-venture with SREI a highly recognised firm in equipment and infrastructure financing further evidences the willingness of the BNP Paribas Group to expand its presence in India in activities where it has a strong expertise. It represents another substantial capital commitment from the Group- the largest so far- in this country and testifies our confidence in the long term prospects of the Indian economy. SWOT ANALYSIS: LITERATURE REVIEW: FLOW OF THE PROCESS AT SREI: CREDIT APPRAISAL: Credit Appraisal is a process to ascertain the risks associated with the extension of the credit facility. It is generally carried by the financial institutions which are involved in providing financial funding to its customers.These financial institutions appraise the technical feasibility, economic viability and bankability including creditworthiness of the prospective borrower. Credit appraisal starts from the time a prospective borrower walks into the branch and culminates in credit delivery and monitoring with the objective of ensuring and maintaining the quality of lending and managing credit risk within acceptable limits. Credit appraisal involves analysis of liquidity position/ financial soundness of the company. Although, the analysis also covers understanding growth trends in revenues and earnings, and profit margins, more emphasis is required to be placed on liquidity-both long term and short term. There are basically two types of proposals that are received by the companies for funds. The first types of proposals are financing against new and first hand assets to be purchased (EQUIK) and the other proposals are financing against pre owned assets (REQUIK). Asset finance is generally divided into three departments depending upon the risk exposure*: Retail: Aggregate risk exposure not exceeding Rs.1 crore. SME (Small Medium Enterprises): Aggregate risk exposure between Rs.1 5 crores. Strategic: Aggregate exposure more than Rs.5 crores. *NOTE: Risk exposure to a client is determined by the summation of Net Finance Amount for the approval(s) being considered, together with all existing exposures to the client all related concerns in aggregate and residual Net Finance Amounts under all previous valid approvals for the Client pending part or full disbursement. SOME IMPORTANT TERMINOLOGIES: ASSET FINANCE: Asset Finance category includes secured business loan in which the borrower pledges as collateral an asset used in the conduct of its business. Asset finance also includes business in which a client takes an asset on lease for use in the conduct of his business for a defined period with or without right of onward sub lease the asset. ASSET COST: In case of Equik, the invoice values of the Asset including all duties and taxes which are not refundable or adjustable under drawback or otherwise any scheme. Spares, consumables, accessories auxiliaries, consultancy fees, installation and erection charges, etc. shall not be considered as part of asset cost. In case of Requik, Asset cost will be determined by the lowest of: Present Intrinsic Value of Asset as determined through a process by an expert approved by SREI. Actual purchase price to be paid by the consumer Current Insured Declared Value. MARGIN: Margin means the clients contribution on the Asset Cost payable upfront or any amount deposited with us as Security Deposit in relation to the transaction before the disbursement or release of facility. AIRR: Internal Rate of Return (IRR) by definition is the rate of return at which the Net Present Value of the stream of payments (repayment of installments and interest by the customer vis-à  -vis the actual disbursement made by the company) become equal to zero. FIRR: Financial IRR (FIRR) shall mean the transaction IRR without factoring any benefit available to Srei BNPP in terms of normal MOU entered into by srei BNPP with concerned manufacturer. Management fees/ RTE/ Commitment Charges collected upfront, an extra credit period, subvention or other cash incentives extracted from the manufacturer over and above those available workings. YIELD: Yield means the rate of return to Srei-BNPP from the transaction, factoring all the benefits available to Srei-BNPP under normal MOU and otherwise from the manufacturers/vendors. ETR (Excellent Track Record): ETR means peak delay of not more than 30 days and average delay of not more than 15 days for payment of dues in all existing and past accounts of the proposed customer. GTR (Good track Record): GTR means peak delay of not more than 45 days and average delay of not more than 30 days for payment of dues in all existing and past accounts of the proposed customer. PTR (Poor track Record): PTR means peak delay more than 45 days and average delay of more than 30 days for payment of dues in all existing and past accounts of the proposed customer. ANALYSIS OF CREDIT APPRAISAL MEMORANDUM: Credit risk of each individual transaction is studied and managed from the five different perspectives: Customer credit worthiness Asset quality Asset deployment Collateral security Facility type Background of the proponent/ management: The identification of the borrower is done properly through scrutiny of his antecedents, experience, competence, integrity, initiative etc. This may be done by obtaining status reports from previous bankers. In case of corporate, the management structure, the background of the top management needs to be scrutinized. KYC guidelines as framed by RBI are adopted by the company. Commercial Appraisal: The nature of the product, demand for the same, the existing and perceived competition in the segment, ability of the proponents to withstand the same, government policies governing the industry etc. need to be taken into consideration. Technical Appraisal: Technical appraisal of the project needs to be carried out for industrial activity proposals beyond the cut off limits prescribed from time to time. Such appraisal may be carried out in house by technical officers. Financial Appraisal: Apart from ascertaining the need based character of the limits requested for, the financial health of the proponents, ability to absorb unanticipated financial costs need to be looked into which would include scrutiny of the cost of the project, means of financing, financial projections etc. important performance indicators like profitability ratios, debt equity ratio, operating profit margin etc. need to be within acceptable parameters for that industries/ activities. INTRODUCTION TO RISK: The interpretation of the word risk will determine the approach to risk management. The word risk is interpreted in three distinct senses namely risk as hazard, risk as opportunity and risk as uncertainty. Risk as hazard is the most commonly used meaning of risk and it means likely financial losses arising from negative events such as control failures, bad publicity and loss of reputation. Risk management in this context would mean eliminating possibilities of losses from such negative events by putting in place adequate control systems. Risk as an opportunity means, taking risks and earning adequate returns on them. This implies the trade-off between risk and return. Here risk management, becomes risk optimization meaning maximizing the upside potential and minimizing the downside. Here capacity and ability to manage risk is used to increase shareholders value and achieve a competitive advantage. Risk, as uncertainty is basically a statistical concept, which assumes a normal distribution for future outcomes. Here risk management means narrowing the difference between the expected outcomes and actual results. Banks and other similar financial institutions need to manage the risk inherent in the entire portfolio as well as the risk in individual credits or transactions. The effective management of risk is a critical component of a comprehensive approach to risk management and essential to the long-term success of any banking organization. In simple words, risk is the possibility of losses associated with decrease in the credit quality of borrowers. In a financial institution, loss may stem from default due to inability or unwillingness of a customer to meet his commitments in relation to lending, trading, settlement and other financial transactions. A default reduces the present value of the loan and consequently the value of the banks business. Thus, it is imperative that these institutions have a robust risk management. MODEL BUILDING: Need for Study: A Risk Assessment Model (RAM) is necessary to avoid the limitations associated with a simplistic and broad classification of applicants into a good or bad category The comapny currently uses a judgemental risk assessing model. Grading System for Standardization of Risk: The grades (symbols, numbers, alphabets, and descriptive terms) used in the internal credit-risk grading system represent, without any ambiguity, the default risks associated with an exposure. The grading system will enable comparisons of risks for purposes of analysis and top management decision-making. The grading system is therefore, be flexible and should accommodate the refinement SREI India Financial and SWOT Analysis SREI India Financial and SWOT Analysis OBJECTIVE OF THE PROJECT: To develop and understanding of the Non-Banking Financial Institutions (NBFIs) and their business operations in India. To do a detailed research on SREI Equipment Finance Private Limited, its market share and the SWOT analysis. To thoroughly review SREIs credit appraisal and credit management process. To understand the risk management process of the company. To gain a detailed knowledge of the parameters that affects various risks. To determine weightages and scores for designing and developing risk assessment model based on market forces for assessing SREIs Customers. METHODOLOGY: In order to achieve the said objectives, will be to go through the entire NBFs history, thrust areas; growth opportunities, present scenario. This will be the ongoing process and will be done using internet, news and books. To understand the functioning of SREI pertaining to credit risk management and appraisal process followed for financing large corporates (risk exposures more than Rs.5 crores). Factual data, credit appraisal memorandum prepared by the company and the credit risk policy of the company will be referred in this regard. Then comes the technical part of conducting Balance Sheet Analysis, Ratio Analysis and Cash Flow Analysis. To propose a statistical credit rating model, data have been collected from credit officers and the relationship managers in the institution. Financial ratios were used to measure the strength of the customer. Score model for assessing risk to convert responses to scores. Weighted average method applied to assign appropriate importance to various parameters. LIMITATIONS OF THE STUDY: The study will only be focusing on the LARGE CORPORATES (risk exposure more than Rs.5 crores) not the retail and SME sectors of SREI. Study is on the basis of first-hand information collected from employees/head of the division of the company that might be incorrect or biased. Duration of the internship imparts the pressure of covering this vast spectrum in a limit period of 14 weeks. The accuracy of the Risk Assessing Model depends on the accuracy of information provided by the customer. The risk rating model doesnt take into the consideration where in the company doesnt follow the rules norms strictly. The relationships with the customers are given more importance. INDUSTRY ANALYSIS: Structure of Indias Financial Services Industry: The RBI, the central banking and monetary authority of India, is the central regulatory and supervisory authority for the Indian financial system. SEBI and IRDA regulate the capital markets and insurance sector, respectively. A variety offinancial intermediaries in the public and private sectors participate in Indias financial sector, including the following: Commercial banks; NBFCs; Specialised financial institutions like NABARD, EXIM Bank, SIDBI and TFCI; Securities brokers; Investment banks; Insurance companies; Mutual funds; and Venture capital. NON-BANKING FINANCIALCOMPANIES: Non-banking financial companies (NBFCs) are fast emerging as an important segment of Indian financial system. It is an heterogeneous group of institutions (other than commercial and co-operative banks) performing financial intermediation in a variety of ways, like accepting deposits, making loans and advances, leasing, hire purchase, etc. They raise funds from the public, directly or indirectly, and lend them to ultimate spenders. They advance loans to the various wholesale and retail traders, small-scale industries and self-employed persons. Thus, they have broadened and diversified the range of products and services offered by a financial sector. Gradually, they are being recognized as complementary to the banking sector due to their customer-oriented services; simplified procedures; attractive rates of return on deposits; flexibility and timeliness in meeting the credit needs of specified sectors; etc. The working and operations of NBFCs are regulated by the Reserve Bank of India (RBI) within the framework of the Reserve Bank of India Act, 1934 (Chapter III B) and the directions issued by it under the Act. As per the RBI Act, a non-banking financial company is defined as:- (i) a financial institution which is a company; (ii) a non-banking institution which is a company and which has as its principal business the receiving of deposits, under any scheme or arrangement or in any other manner, or lending in any manner; (iii) such other non-banking institution or class of such institutions, as the bank may, with the previous approval of the Central Government and by notification in the Official Gazette, specify. NBFCs VsBANKING SECTOR IN INDIA: Non-Banking Finance Companies (NBFCs) are an integral part of the countrys financial system complementing theservices of commercial banks. The main reason attributed to the growth of NBFCs is the comprehensive regulation of thebanking system. Other factors include higher level of customer orientation, lesser pre/post sanction requirements andhigher rates of interest on deposits being offered by NBFCs. NBFCs have traditionally been extending credit across various parts of the country through their geographical presence,with NBFCs being a supplier of credit to segments such as equipment leasing, hire purchase, and consumer finance. Theseare areas which warrant infusion of financing due to the existing demand-supply gap. NBFCs have been a more flexiblesource of financing and have been able to disburse funds to a gamut of client, from the local common man to a varietyof corporate client. NBFCs are also able to accelerate the pace of decision making to disburse funds, customise andtailor their products according to the client needs and take on excess risks on their portfolio. NBFCs can be divided intodeposit taking NBFCs, i.e., which accept deposits from public and non-deposit taking NBFCs being those which do notaccept deposits from public. The activities carried out by NBFCs in India can be grouped as under The types of NBFCs registered with the RBI are:-  § Equipment leasing Company: is any financial institution whose principal business is that of leasing equipment or financing of such an activity.  § Hire-purchase Company:is any financial intermediary whose principal business relates to hire purchase transactions or financing of such transactions.  § Loan Company: means any financial institution whose principal business is that of providing finance, whether by making loans or advances or otherwise for any activity other than its own (excluding any equipment leasing or hire-purchase finance activity).  § Investment Company: is any financial intermediary whose principal business is that of buying and selling of securities. Now, these NBFCs have been reclassified into three categories:-  § Asset Finance Company (AFC)  § Investment Company (IC) and  § Loan Company (LC). Under this classification, AFC is defined as a financial institution whose principal business is that of financing the physical assets which support various productive/economic activities in the country. GOVERNMENT ROLE IN PROMOTING INFRASTRUCTURE FINANCE: Infrastructure is expected to be a key area of growth in a developing country like India. The Government has been activelypromoting the countrys infrastructure through a sustained focus on area like power, roads, ports and urbantransportation. Private sector participation through public private partnerships as well as privately funded projects isbeing encouraged in order to enable quick scale up of governments efforts and better management. As per PlanningCommissions estimates the investments in infrastructure during the Tenth Plan aggregated to Rs. 4, 52,900 crores whichis expected to increase to Rs. 11, 25,000 crores in the Eleventh Plan. The chart below describes the anticipated andestimated investments under the two plans respectively. PROJECTED INVESTMENT IN INFRASTRUCTURE in the 11th FIVE YEAR PLAN: COMPANY PROFILE: A started operation in 1989, Srei is a leading infrastructure focused private sector Non-Banking Financial Company (NBFC) in India. It is currently the only institution in India offering holistic infrastructure solutions financing, advisory services development. Milestones Achieved: 1989 Started operations and identified the infrastructure sector as its core Business area. 1992 Initial Public Offering with listing on all major stock exchanges. 1997 IFC, FMO DEG invested as strategic equity partners Promoters stake. 2002 Conceived Quippo, Indias first equipment bank. 2004 All India presence, currently 63 offices. 2005 First Indian NBFC to be listed on the London Stock Exchange. 2006 Geographical expansion into Russia; equity partners EBRD, DEG, FMO. 2007 Joint venture with BNP Paribas Lease Group, 100% subsidiary of BNP Paribas. 2008 Holistic Infrastructure Institution, financing, advisory services Development. Services: Ø Infrastructure Equipment Financing Leasing Ø Infrastructure Project: Financing, Advisory services and development Ø Insurance Broking Ø Venture Capital Ø Capital market Ø Sahaj e-village Ø Quippo Equipment Bank GROUP STRUCTURE: About Srei Equipment Finance Private Limited: Srei BNP Paribas (Registered name: Srei Equipment Finance Private Limited) is a 50:50 joint-venture between Srei Infrastructure Finance Limited, Indias leading and only private sector Non-Banking Financial Institution in the infrastructure space and BNP Paribas Leasing Solutions(BPLS), a wholly owned subsidiary of BNP Paribas, France. Srei BNP Paribas started its operation from January 01, 2008 with the infrastructure and construction equipment financing and insurance businesses and has further plans to expand its business to new verticals. Industry leader in the infrastructure and construction equipment financing, Srei BNP Paribas is aptly benefitting from the Indian expertise and insight of Srei and global leasing insight in diverse product classes of BNP Paribas. Srei BNP Paribas has deep insight on diverse equipment used in the infrastructure and construction sector and acts a valuable advisor to its customers. It has tied up with all the leading equipment manufacturers. Over the years, Srei BNP Paribas has been innovating new marketing programs bringing together the manufacturers and customers on a single platform, creating immense value and sharing this value with all the stake holders. Paison Ki Nilami and Srei BNP Paribas Partnership Week are two such prominent programs. Srei BNP Paribas has already started financing Technology Solutions (financing of IT equipment, software and services) and has effectively partnered with leading global IT vendors for financing their customers. It has also forayed into financing of new Equipment classes: Agriculture Equipment, Healthcare Equipment, Office Automation, and Equipment in Education sector etc. With its foray into new equipment classes, Srei BNP Paribas has become probably the one and only Company to offer complete Equipment Solutions. With a customer base of over 20,000, Srei BNP Paribas has grown from strength to strength enjoying a strong national presence with a network of 86 offices across India. VISION: To be the most inspiring global holistic infrastructure institution. MISSION: To be an Indian multinational company providing innovative integrated infrastructure solutions. CORE VALUES: Customer Partnership: At Srei, customer satisfaction is the benchmark for success. Srei delights its customers through a comprehensive range of financial services that are personalized, fast, reliable, convenient, quality driven, and yet cost effective. Integrity: Business integrity is a way of life at Srei. The company strongly stands by integrity in all its dealings and ensures strict adherence to the highest standards of business ethics. Passion for Excellence: Sreis passion for excellence is instrumental in positioning the company as the most innovative infrastructure solution provider in India. Respect for People: Srei acknowledges the fact that its people are its most valuable assets and accordingly provides the best possible work environment and treats them like family members. The company rewards excellence and initiative. Stakeholder Value enhancement: Srei is committed to earning the trust and confidence of all its stake holders. Its growth focus, the ability to constantly enlarge its product basket while controlling risk and reducing the cost of its services have resulted in enhanced value for its stakeholders. Professional Entrepreneurship: Sreis in depth knowledge of infrastructure financing business in India, coupled with its spirit of entrepreneurship, and helps the company to overcome the obstacles and complexities with professional expertise. MANUFACTURING PARTNERS: MARKET SHARE OF SREI BNP PARIBAS: Source: Company. MAJOR COMPETITORS: 1. MAGMA FINCORP LIMITED: Magma Fincorp Ltd (Magma) is a Kolkata based asset financing company. The company is engaged in financingof commercial vehicles, cars, construction equipment, tractors and utility vehicles.The companys target customers are mostly first time users and small entrepreneurs. The Company provides construction equipment finance across retail and strategic customer segments. In the retail segment, it focuses on first-time buyers and small customers. The Company has established contracts with large value vendors addressing multiple projects. It finances a range of construction equipment like excavators, backhoe loaders, compactors, compressors, cranes, tippers and drillers of prominent brands like JCB, Telcon, LT, Ingersoll-Rand, Caterpillar, ECEL, Escorts and Atlas Copco etc. Magma provides unsecured EMI-based loans to SMEs for working capital, business expansion and business maintenance. It has developed proprietary financial analysis tools to make safe credit assessments. The share of this segment is increasing in the total disbursements (5% in FY10). Going forward the company intends to maintain the proportion of these loans at 5% and would adopt a cautious approach while lending. In Commercial Vehicle Finance Segment, Magma provides loans on used commercial vehicles and construction equipment. Magma refinanced popular models of Tata Motors and Ashok Leyland. Magma Fincorp predominantly was engaged in financing of construction equipment and passenger cars, utility vehicles and commercial vehicles (CVs). These business verticals accounted for 90% of the companys disbursements in FY10. Recently the company has ventured into high-yield segments, viz; financing of used CVs, tractors and SME loans. Most of the loans disbursed are retail loans and have small ticket size except in the construction equipment segment. MFL has a concentrated focus on the under tapped semi urban and rural market to finance first time users, Small Road Transport operators, small contractors etc. 2. TATA CAPITAL: The Company was incorporated on March 8, 1991 and actively commenced business operations since September, 2007. The Company is a wholly owned subsidiary of Tata Sons Limited, the apex holding company of the Tatas. Their fund based businesses comprise Corporate Finance, Infrastructure Finance and Retail Finance fee based businesses comprise investment banking, broking and distribution, wealth management, private equity, treasury advisory, services relating to travel, forex and infrastructure. With the wide array of products and customized service, the commercial finance business, helps small, medium and large corporates grow their business. The companys team of handpicked professionals offers in-depth expertise to help customers keep pace with the changing marketplace and offer them appropriate solutions to meet their ever-growing financial needs. The companys management structure enables them to leverage relationships across lines of our businesses. Their product knowledge and multi-channel delivery model enhances the ability to cross-sell the companys services. TATA Capital is in the advanced stages of setting up institutional broking, insurance broking and rural finance businesses which would supplement the aforementioned lines of business. TATA Capital believes that the following are the key strengths: Unified financial services platform; Diversified and balanced mix of businesses; Experienced management team; Innovative solutions model; Respected brand; Controls, processes and risk management systems; and Access to capital. 3. LT FINANCE LIMITED: LT Finance Limited (LTF) is a subsidiary of Larsen and Toubro. It was incorporated as a Non-Banking Finance Company in November 1994. Through LTF, LT aims at making a strong foray in the ever-expanding financial services sector.LT Finance understands the intricacies of your business. We at LT Finance offer financing for your Construction Equipment in the form of term loans, working capital loan and operating lease facilities. In 1996, LT Finance had made a foray in financing of commercial vehicles. LT Finance offers financing Commercial Vehicles of all makes and sizes. We also undertake funding of the body for the Commercial Vehicles. LT Finance has an extensive network from where you can easily avail financing for your Commercial Vehicle. Advantages of partnering with LT Finance Presence in more than 70 locations Flexible repayment option Competitive interest rates Finance for used vehicles available Faster loan approval and disbursement A brief Comparison between SREI EQUIPMENT FINSNCE its Competitors: REASON FOR THE JOINT VENTURE WITH BNP PARIBAS LEGAL SOLUTIONS: Mr.HemantKanoria, Vice Chairman and Managing Director of SREI, termed this joint venture as a very significant step in the Indian Financial Services Market. â€Å"We are the largest player in the financing of infrastructure equipment and collaborating with BPLG will help in increasing our market share further and also expanding the product line into financing of agriculture, information technology, medical and other equipment.† Speaking at the occasion Mr. Bertrand Gousset, member of the Executive Committee of BPLG, in charge of Corporate Development, said, â€Å"We are delighted to be associated with the SREI group, who are the leaders in the financing of infrastructure equipment and provide a wide range of equipment finance products to large strategic clients as well as to retail customers, with pan-India coverage. This joint venture is very significant for us and we look forward to a long and prosperous association with them.† Mr. Sunil Kanoria said, â€Å"This joint venture signifies the coming together of two companies with the same shared values. Both SREI and BPLG are convinced that they are well positioned to build on the already strong platform established by SREI and that this will enable in reduction in cost of funds resulting in higher profitability.† Mr.Amoudru, CEO of BNP Paribas India and Head of Territory, said The acquisition of a 50% stake in this joint-venture with SREI a highly recognised firm in equipment and infrastructure financing further evidences the willingness of the BNP Paribas Group to expand its presence in India in activities where it has a strong expertise. It represents another substantial capital commitment from the Group- the largest so far- in this country and testifies our confidence in the long term prospects of the Indian economy. SWOT ANALYSIS: LITERATURE REVIEW: FLOW OF THE PROCESS AT SREI: CREDIT APPRAISAL: Credit Appraisal is a process to ascertain the risks associated with the extension of the credit facility. It is generally carried by the financial institutions which are involved in providing financial funding to its customers.These financial institutions appraise the technical feasibility, economic viability and bankability including creditworthiness of the prospective borrower. Credit appraisal starts from the time a prospective borrower walks into the branch and culminates in credit delivery and monitoring with the objective of ensuring and maintaining the quality of lending and managing credit risk within acceptable limits. Credit appraisal involves analysis of liquidity position/ financial soundness of the company. Although, the analysis also covers understanding growth trends in revenues and earnings, and profit margins, more emphasis is required to be placed on liquidity-both long term and short term. There are basically two types of proposals that are received by the companies for funds. The first types of proposals are financing against new and first hand assets to be purchased (EQUIK) and the other proposals are financing against pre owned assets (REQUIK). Asset finance is generally divided into three departments depending upon the risk exposure*: Retail: Aggregate risk exposure not exceeding Rs.1 crore. SME (Small Medium Enterprises): Aggregate risk exposure between Rs.1 5 crores. Strategic: Aggregate exposure more than Rs.5 crores. *NOTE: Risk exposure to a client is determined by the summation of Net Finance Amount for the approval(s) being considered, together with all existing exposures to the client all related concerns in aggregate and residual Net Finance Amounts under all previous valid approvals for the Client pending part or full disbursement. SOME IMPORTANT TERMINOLOGIES: ASSET FINANCE: Asset Finance category includes secured business loan in which the borrower pledges as collateral an asset used in the conduct of its business. Asset finance also includes business in which a client takes an asset on lease for use in the conduct of his business for a defined period with or without right of onward sub lease the asset. ASSET COST: In case of Equik, the invoice values of the Asset including all duties and taxes which are not refundable or adjustable under drawback or otherwise any scheme. Spares, consumables, accessories auxiliaries, consultancy fees, installation and erection charges, etc. shall not be considered as part of asset cost. In case of Requik, Asset cost will be determined by the lowest of: Present Intrinsic Value of Asset as determined through a process by an expert approved by SREI. Actual purchase price to be paid by the consumer Current Insured Declared Value. MARGIN: Margin means the clients contribution on the Asset Cost payable upfront or any amount deposited with us as Security Deposit in relation to the transaction before the disbursement or release of facility. AIRR: Internal Rate of Return (IRR) by definition is the rate of return at which the Net Present Value of the stream of payments (repayment of installments and interest by the customer vis-à  -vis the actual disbursement made by the company) become equal to zero. FIRR: Financial IRR (FIRR) shall mean the transaction IRR without factoring any benefit available to Srei BNPP in terms of normal MOU entered into by srei BNPP with concerned manufacturer. Management fees/ RTE/ Commitment Charges collected upfront, an extra credit period, subvention or other cash incentives extracted from the manufacturer over and above those available workings. YIELD: Yield means the rate of return to Srei-BNPP from the transaction, factoring all the benefits available to Srei-BNPP under normal MOU and otherwise from the manufacturers/vendors. ETR (Excellent Track Record): ETR means peak delay of not more than 30 days and average delay of not more than 15 days for payment of dues in all existing and past accounts of the proposed customer. GTR (Good track Record): GTR means peak delay of not more than 45 days and average delay of not more than 30 days for payment of dues in all existing and past accounts of the proposed customer. PTR (Poor track Record): PTR means peak delay more than 45 days and average delay of more than 30 days for payment of dues in all existing and past accounts of the proposed customer. ANALYSIS OF CREDIT APPRAISAL MEMORANDUM: Credit risk of each individual transaction is studied and managed from the five different perspectives: Customer credit worthiness Asset quality Asset deployment Collateral security Facility type Background of the proponent/ management: The identification of the borrower is done properly through scrutiny of his antecedents, experience, competence, integrity, initiative etc. This may be done by obtaining status reports from previous bankers. In case of corporate, the management structure, the background of the top management needs to be scrutinized. KYC guidelines as framed by RBI are adopted by the company. Commercial Appraisal: The nature of the product, demand for the same, the existing and perceived competition in the segment, ability of the proponents to withstand the same, government policies governing the industry etc. need to be taken into consideration. Technical Appraisal: Technical appraisal of the project needs to be carried out for industrial activity proposals beyond the cut off limits prescribed from time to time. Such appraisal may be carried out in house by technical officers. Financial Appraisal: Apart from ascertaining the need based character of the limits requested for, the financial health of the proponents, ability to absorb unanticipated financial costs need to be looked into which would include scrutiny of the cost of the project, means of financing, financial projections etc. important performance indicators like profitability ratios, debt equity ratio, operating profit margin etc. need to be within acceptable parameters for that industries/ activities. INTRODUCTION TO RISK: The interpretation of the word risk will determine the approach to risk management. The word risk is interpreted in three distinct senses namely risk as hazard, risk as opportunity and risk as uncertainty. Risk as hazard is the most commonly used meaning of risk and it means likely financial losses arising from negative events such as control failures, bad publicity and loss of reputation. Risk management in this context would mean eliminating possibilities of losses from such negative events by putting in place adequate control systems. Risk as an opportunity means, taking risks and earning adequate returns on them. This implies the trade-off between risk and return. Here risk management, becomes risk optimization meaning maximizing the upside potential and minimizing the downside. Here capacity and ability to manage risk is used to increase shareholders value and achieve a competitive advantage. Risk, as uncertainty is basically a statistical concept, which assumes a normal distribution for future outcomes. Here risk management means narrowing the difference between the expected outcomes and actual results. Banks and other similar financial institutions need to manage the risk inherent in the entire portfolio as well as the risk in individual credits or transactions. The effective management of risk is a critical component of a comprehensive approach to risk management and essential to the long-term success of any banking organization. In simple words, risk is the possibility of losses associated with decrease in the credit quality of borrowers. In a financial institution, loss may stem from default due to inability or unwillingness of a customer to meet his commitments in relation to lending, trading, settlement and other financial transactions. A default reduces the present value of the loan and consequently the value of the banks business. Thus, it is imperative that these institutions have a robust risk management. MODEL BUILDING: Need for Study: A Risk Assessment Model (RAM) is necessary to avoid the limitations associated with a simplistic and broad classification of applicants into a good or bad category The comapny currently uses a judgemental risk assessing model. Grading System for Standardization of Risk: The grades (symbols, numbers, alphabets, and descriptive terms) used in the internal credit-risk grading system represent, without any ambiguity, the default risks associated with an exposure. The grading system will enable comparisons of risks for purposes of analysis and top management decision-making. The grading system is therefore, be flexible and should accommodate the refinement