Migrations CCOT Essay

From 1700 to 1900 the migrations of people from Europe and Africa to the US grew and then receded due to the limits the U.S. put on immigrants.At the beginning of the period, Europeans stuck to their side of the ocean. However, When the Irish potato famine struck in 1845 however, there was a mass exodus of irish people in search of a steady source of food and a new life. In the beginning on the African side of things, there was a mass movement of africans to the US due to the slave trade but by the end of the period the slave trade was outlawed so there was a mass migration of Africans who migrated as indentured servants to find a better life. During the 18th century, there was much migration in between the thirteen colonies, Europe and Africa. In the 18th century, the slave trade was in full swing. People from the colonies and Europe were buying slaves very frequently. There were many slave markets and any child born to a slave also became a slave. Millions of Africans were shipped across the Atlantic Ocean. During this time, although people went from Europe to the colonies, it was only to strengthen the colonies themselves. During the 19th century, the migration patterns changed. In 1845 the Irish potato famine made 250 thousand people migrate from their homes. The country had no food and was riddled with disease so the Irish people came to the U.S. to try to start a new life for themselves. In addition to this, people from Europe came to the U.S. as indentured servants to have a better life. In Africa, by 1807 the slave trade had been abolished.

Mark Twain Case Essay

Mark Twain was an extremely productive author in his lifetime.   He wrote many famous books, articles and stories.   He was also a world traveler.   He visited five continents and crossed the Atlantic Ocean 29 times.   In general, he is notarized for his fiction works.   However, he also composed many successful non-fiction manuscripts as well. Many of Twain’s non-fiction works were written on his travels.   In his travels to the Old City, Twain took photographs to correspond with his written work.   He described the Old City, highlighting the methods and manners in which the Jewish people of the city worshipped and interacted with one another.   While doing this, he provided names to many of the places that he visited.   Many of these names have stuck, and have become the common names of landmarks (Journey to the Holy City, 2).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Most readers are already familiar with the broad brushstrokes of Mark Twain’s life.   Many interviews, however, were conducted in order to present a totally new facet of the Twain story, unfictionalized and in fascinating detail. These interviews appeared in a great diversity of American and international newspapers during the long course of his creative adult life (Nash).   The interviews provide information to the volumes and volumes of Twain’s imaginative and satirical capabilities.   Most famous of the non-fiction works written by Twain is his adult biography.   The biography tells the compelling story, from his own perspective, of life and the inspirations behind his works. Countless books have been written about Twain’s life.   One book, written by Ron Powers, has been hailed by critics as serving as a â€Å"biography but much more†¦Powers uses Twain’s life to tell us what America was like then and, tangentially, why we’re what we are today† (Spiegel, 2).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Twain’s world travels began in 1867, when a California newspaper sent him on a five-month trip to Europe and the Middle East.   There, he wrote many letters that were later put together to form the book The Innocents Abroad (Twain’s Travels, 1).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Mark Twain is considered to be one of the world’s greatest humorists.   His witty phrases and observations filled the pages of his non fiction works (WordPlay, 1).   Twain was also one of the first persons in his town in Hartford, Connecticut to have a telephone.   An example of his humorous use of satire to describe a situation occurred in 1880.  Ã‚   Twain was amused by his new device, as it enabled persons who enjoyed eavesdropping to hear only one side of a conversation.   As a result, he wrote an amusing description of listening to his wife talk on the telephone (Twain, 1).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Twain composed many of his non-fiction works under his pen name.   His legal name was Samuel Clemens.   While often engaged in travel, Twain spent over 17 years at his beloved Hartford home.   While living there, he published six books.   These include: The Adventures of Tom Sawyer, A Tramp Abroad, The Prince and the Pauper, Life on the Mississippi, Adventures of Huckleberry Finn, and A Connecticut Yankee in King Arthur’s Court (Allen).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Literature critics have paid significant attention to Twain’s twang in his nonfiction writings, stating that â€Å"he pours forth a flood of most graphic word painting. He talks slowly and extracts each of his vowels with a corkscrew twist that would make even the announcement of a funeral sound like a joke† (Mark’s Twang, 1). Critics have also spent significant amounts of time dissecting Twain’s life as well as books written about his life.   In an article by Middlekauff, the author describes Twain as an inspiration to biographers, historians and literary critics alike.   Middlekauff elaborates on this by concluding, â€Å"Mark Twain, in all of his fascination, will never exhaust the interest of his readers† (1).   It seems as though Middlekauff hit it right on. In the past decade, in particular, Twain’s name has been used publicly to highlight achievement.   Schools have been named after him.   Additionally, many literary awards have been named after the famous author.   For example, in 2006, playwright Neil Simon was presented with the Ninth Annual Mark Twain Prize for American Humor (Awards and Prizes, 1). Works Cited Allen, Daniel.   Mark Twain.   Yankee.   November 2006.   Vol 70(9).   1 pg. Awards and Prizes.   American Theatre.   September 2006.   Vol 23(7).   1 pg. Journey to the Holy City in the Footsteps of Mark Twain.   PSA Journal.   October 2006. Volume 72(10).   2 pg. Mark’s Twang.   Harper’s Magazine.   September 2006.   Vol 313(1876).   1 pg. Middlekauff, Robert.   Mark Twain: A Life.   Journal of American History.   September Vol 93(2). 1 pg. Nash, Charles.   Mark Twain: The Complete Interviews.   Library Journal.   October 1, Vol. 131(16). 2 pg. Spiegel, Pamela.   Leaders as Readers.   American Libraries.   May 2006.   Vol 37(5), 4 pg. Twain, Mark.   A Telephonic Conversation.   Atlantic.   September 2006.   Vol 298(2).   1 pg. Twain’s Travels: Letters from home; from France, Morocco, Egypt and Russia.   Read. November 3, 2006.   Vol 56(6).   2 pg. Wordplay.   Read.   November 3, 2006.   Vol 56(6).   1 pg.

Othello research paper Essay Example | Topics and Well Written Essays - 1000 words

Othello research paper - Essay Example He knows that Roderigo can give him money in exchange for his schemes and friendship. Having seen the other person’s weakness, he maximizes on it for his own devious ends. In addition, he hates Othello for picking Cassio as his lieutenant (I.i. 7–32), so that he promises himself that he will not let this unfair treatment go unnoticed. He plans to take his revenge by telling Othello that Cassio is sleeping with Desdemona (I.iii.369–370) and proves it through the aid of his wife Emilia and his other innocent â€Å"subjects†. In Act 2, Iago begins to suspect that Cassio has a hidden desire for Desdemona because he praises her and Iago finds it as a means to his advantage. Because he knows that Roderigo will do anything just to win Desdemona, he convinces him that if he kills Cassio then he will have Desdemona, and Iago will take Cassio’s place as Othello’s lieutenant. It appears that Iago has become so engrossed in his plans that his imaginations have been confused in his own mind to be reality. Having been motivated by the urgency of his desire for revenge, he boldly plans to tell Othello that Desdemona and Cassio are having an affair so that Othello will discharge Cassio and appoint him as replacement for Cassio as lieutenant (II.i.286). Iago’s schemes spare nobody who comes against his plans. He even discredits Cassio to Montano who has high regard of Cassio’s abilities and character. So when Roderigo attacks Cassio, Montano is also wounded. Iago appears gentle to Roderigo as he comforts him after the fight, the latter being unaware that he is just being used to achieve Iago’s personal and vested interests. To make matters worst, he uses his wife to let Desdemona and Cassio meet so that the meeting will appear to be a proof of Desdemona’s infidelity to Othello (II.iii.310). Act 3 shows that Iago uses and performs well as a good actor that Othello does not suspect his true intentions and feelings as he pretends shock

LEGAL FORMALITIES Research Paper Example | Topics and Well Written Essays - 1500 words

LEGAL FORMALITIES - Research Paper Example ent rules and policies, laws, licensing process, business structure, required documents, taxation, accounting system, intellectual property rights and labor laws. Given below is the brief account of all legal formalities which will be fulfilled by HealthPoint in UAE. Although most of the sections of Company law are similar for all companies operating in UAE however, Government of Abu Dhabi and other regions of UAE has established their own support forums to guide new investors. As we are planning to launch our company in Abu Dhabi therefore, information on all legal activities has been collected for Abu Dhabi. The companies which are involved in viable business activities in Abu Dhabi are required to follow trade licenses Law No. (5) Of 1998. This law deals with the issuance of licenses for the business planning to operate in Abu Dhabi. In addition, as the partners of HealthPoint will be foreign therefore, they also have to consider Law No. (7) Of 1998 (Abu Dhabi Government, 2010). According to this law, HealthPoint will have to get registered with Abu Dhabi Chamber of Commerce and Industry and after obtaining the membership the perquisite to obtain the license will be fulfilled. The Government of Abu Dhabi has defined the competent authorities which are involved in issuing licenses to various kinds of businesses in Abu Dhabi. For HealthPoint the license will be issued by Commercial Licenses Authority. HealthPoint will also follow all the rules and regulations defined for the companies operating in Food Industry such as Food safety laws etc. In addition, the other legal requirements for o pening a business have been discussed in the coming sections. HealthPoint will be a General Partnership Contract between the three partners. According to Federal Law No (8) and Article (23), a general partnership can be established by two or more partners and the partners are liable to all debts of the company (Abu Dhabi Chamber of Commerce and Industry, 2010). The complete

Economics Coursework Essay Example | Topics and Well Written Essays - 1500 words - 1

Economics Coursework - Essay Example In the economic boom many invested in real estate and rented houses at a higher price to add consistent income. Such investments were centrally made in the business cities. However, the recession has caused unemployment and therefore demand for the rented houses has declined as people on being jobless moved back to their respective cities. In such cases, cost of retaining empty house increased such as maintenance cost etc. Therefore, the decline in income from rented houses caused by the decline in its demand had a positive shift in the demand of the owner occupation housing. Government to meet the challenge of crisis and budget deficit has been exploiting higher income people. In such case government can identify rental income as an additional source of income for people and therefore increases tax on the rental income. This measure of government to increase income would have a positive outward shift in the demand of the owner occupation of housing. People will prefer to self occupy houses than renting it out for additional income to benefit from tax escape. The mechanism can also be in contrast. Such as government reducing the subsidies to people that have been hit by the recession but are living in own houses can have negative shift in the demand of the owner occupation housing. People in such case can would then prefer to live in rented houses and therefore demand of the higher subsidies from government. In contrast to above proposition, in case government takes measure to generate the economic activity in certain areas to deal with affects of global crises. Among such measures can be a scheme of providing business loan at lower interest rate to the people that wishes to start own small business venture in local areas. The scheme also offering concession in the electricity and water bills to such people can have positive shift in the owner occupation in that particular area. Therefore, people to take the

Physical security requirements Essay Example | Topics and Well Written Essays - 750 words

Physical security requirements - Essay Example uting to the problem are diverse; size of the building, anonymity inside the precincts of the building, contents of the building, characteristics of occupants, location and physical features. Every door in a tall building is supposed to have a working lock at all times for security of those using the different rooms. The doors and windows are supposed to be reinforced, fitted with intrusion alarms to whine away when someone intrudes in. lighting must be feasible at all times with a back-up generator in place just in case there is a power outage. Perimeters gates, fences and bollards are supposed to be erected all round to prevent unnecessary access by intruders. Physical security hardens a building and makes it inaccessible to the unwanted publics. Some offenders however see increased security as a threat to their ingenuity (Cofer, 2013). CCTV is a primary part of security of any building. Internet based CCTV can also be installed so that all security concerns about the building can be monitored elsewhere. This means that one does not have to be in the building to view the security concerns in it. It should however be noted that CCTV is quite open and seen and therefore interferes with the open offences that would have taken place. Once this is known, there is always a counter plan by the offenders. These should be erected in all possible places; the elevators, lobbies and along adjacent sidewalks. Three concepts address the aspect of physical design. Physical design determines the design of physical security. The first is creation of ‘defensible space’. Challinger (2008) stipulated that crime rate with reference to buildings increased as the number of floors increased. Situational crime prevention is also a fact under design of the building. A modification of environmental factors has to be made to reduce crime in the building. In the case of CPTED, all the workers in the building will be required to be aware of their situations and be responsible for

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

Business - Report Evaluation - Essay Example In fact, prices are so depressed that they are not expected to rise to the pre-2007 levels at least until the next 10 years. Nevertheless, the sector continues to garner the attention of overseas investors, who have contributed to a certain extent in sustaining real estate prices. Initial gains made over the last 2-3 years have been eroded during recent months primarily due to the sovereign debt crisis in Europe and a reduction in consumer spending. Consumers are having serious concerns over their employment opportunities, which are having a direct impact on the hotel and leisure industries. Thus, it is necessary that the government take steps to restore consumer and investor confidence in order to stimulate some positive trends in the industry. Without such steps, the UK commercial property sector will become too dependent on external funding and thus react more sharply to events in the market. Thus, it is necessary for the government to understand the crucial role of the commercial property sector and undertake steps to improve its performance over the coming months. Investment Banks The Investment banking sector is important for the economy since it helps governments and corporations raise capital through adequate sources of funding. Yet, the 2008 financial crisis was caused due to the reckless acts of many investment banks and the toxic bets they made in the mortgage markets. Despite the fact that their actions brought many economies on their knees, none of the key individuals have been prosecuted or prevented through effective legislation. The primary issue here is not about the losses caused by the actions of investment bankers, but an understanding of the main reasons, which influence their decisions. The primary issue is with regards to effective management and oversight, which is rare and often inept at monitoring the actions of employees. On an average, bankers put in a 90-hour workweek and do not have any formal appraisal processes in place. Most imp ortantly, their compensation is based predominantly on performance and the profits that they can realize through their activities. This bonus-driven compensation not only creates pressure on employees to resort to high-risk taking, but also incentivizes those that succeed from taking such positions. Individualism and secrecy are other issues, which prevent any effective collaborative teamwork among employees in investment banks. All these issues suggest that there is a serious need to revamp current practices of executive compensation. Excessive bonuses should be done away with and bankers must be encouraged to perform towards long-term objectives rather than strive for short-term performance. Banks can also take note of players such JP Morgan and Goldman Sachs, which were able to overcome major losses during the financial crisis due to their emphasis on teamwork, information sharing and an inspiring organizational culture. Public Relations Public Relations (PR) are the set of strat egies and actions that allow an organizational entity to promote it in the eye of the public. While this sounds as an effective medium of promotion and branding, PR can be used to shape public perception through various tricky methods using mediums such as the press to propagate false information. Thus, PR has evolved from a mere communicative mechanism into a comprehensive paradigm that shapes perceptions in the public sphere. While PR is an

The Impact of Diversity & Inclusion on Organizational Effectiveness in Research Paper

The Impact of Diversity & Inclusion on Organizational Effectiveness in the United States - Research Paper Example Avon, the company meant for women, is a well-renowned international beauty-products company, reporting of the excess of $11 billion in revenue per annum. Avon markets its products in more than 134 nations and is the globe’s largest direct seller as it markets its products through its about â€Å"6.4 million autonomous Avon sales agents†. Avon Products includes home and fashion products and beauty and cosmetic products. Avon Products, Inc is a U.S. based company and is the globe’s leading direct seller of cosmetic and beauty products, has initiated diversity and inclusion program as early as in the 1970s. Avon supported three minority communities in U.S.A such as Asians, African-Americans, and Hispanics’ networks that interconnect AVON minority networks in all the fifty states. Each network selects its top leaders, senior management will appoint an advisor and will induct representatives on the company’s Multicultural Participation Council, to which the feedback from the management is given about perspectives of employees on issues relating to diversities. Avon’s strong support to diversity and inclusion is duly recognized, and it was one of the top ten companies listed by Business Ethics magazine published from Minneapolis as â€Å"100 Best Corporate Citizens† and well admired by Fortune magazine as one the U.S.A’s most esteemed companies. Avon’s chairperson and CEO, Andrea Jung was named by Business Week Magazine as most powerful women among 50 nominations in 2009 and named as the best manager in the year 2002.

Great Expectations Essay Example for Free

Great Expectations Essay What Picture Of Childhood Does Charles Dickens Create In The First Section of Great Expectations?  In 1861, when Dickens embarked upon telling the novel Great Expectations, the country was riveted. Theyd hasten to read the next weekly instalment which was full of drama and, more importantly, the issues which Dickens urged to convey throughout the novel. Strong feelings were rooted to his childhood where he was forced to work in a blacking factory and even give up his education at one point. When he did receive an education it was poorly taught, like Pips own experience. In comparison, our society today and its compulsory education is a striking contrast to Victorian childrens life. Treatment during childhood is also an important theme and most interestingly how Pip is treated by his sister Mrs Joe and her husband Joe Gargery. Whereas Joe supports and encourages Pip, Astonishing! You ARE a scholar, he remarks when Pip writes something on the chalkboard to him, Mrs Joe treats Pip extremely differently. Despite being only a sister to Pip, Mrs Joe acts as his mother as she has raised him by hand. Literally this describes how she raised him alone, but also symbolises how Pip seemed to be raised by Mrs Joes violence. She is firm and cruel and uses the tickler, a whip, on Pip when she sees that he has misbehaved. This sounds childish and fun to our ears, which is ironic seeing as it causes Pip so much pain throughout his childhood. Another severe and strict method of control is force feeding a disgusting dose of tar water. This treatment for a naughty child, which is used on Pip, was also used on Joe. This could be a possible reason for why Joe and Pip act brotherly and are on equal terms as seen here: get behind the door old chap, as they are united against Mrs Joes cruel punishments and severity despite the social rules that your elders are your betters. Therefore, although Joes behaviour towards Pip seems more natural to us nowadays, it is in fact Mrs Joes treatment of Pip, which Dickens writes to give us a picture of childhood, which was more common in Victorian times. The classic seen and not heard view of children, which was meant quite literally at the dinner table on Christmas day where Pip was not allowed to speak., is also portrayed in the character of Mr Pumblechook. He tells Pip over dinner he should be grateful to them which brought you up by hand, because if he had been born a Squeaker he would not have received such care. Mr Pumblechook uses every chance, like testing his arithmetic, to belittle and insult Pip. However, when Pip gains his fortune Mr Pumblechook hypocritically claims that it was well deserved and they have always been old friends. We can see that Mr Pumblechook, in seeing that Pip is now of a higher status and so has to respect and try to gain favour of him, whereas before young Pip as a child was of a very low status. Miss Havisham looks down on Pip for another reason as her wealth makes Pip feel even more common. She invites him to play in Satis House, which has been neglected since her failed wedding day. She is blunt with Pip, for example: I hope you want nothing. Youll get nothing. She has a frighteningly manipulative influence on those around her. She teaches Estella to break mens hearts and encourages Pip to think she is his mysterious benefactor. It could be because she spends too much time alone with her bitter thoughts, which allows her to be so cunningly manipulative. She expects people to follow her wishes, especially Pip as he is common. You are unwilling to play, then are you willing to work? In contrast, Magwitchs treatment towards Pip is regardless of class. When he first meets him he is desperate, shaking, ill and in pain. We can see that this makes him desperate, and even threatening to Pip. However, later on in the novel we can see that Magwitch treats Pip with great respect in affection in return for his help seeing himself as Pips second-father, whereas Mr Pumblechook tries to leech of Pip when hes older. It is difficult to tell whether Pips deed or Magwitchs nature lead Magwitch to treat someone so kindly like Pip, but as he was desperate on the marshes we can assume he isnt only kind to Pip. Friends on the desolate marshes are a fortune Pip does not possess in his childhood. Interacting with children your own age plays a vital role in growing up as we can see from Pips reactions to his meetings with Estella. Her condescending manner is very apparent in the scornful tone she refers to Pip as boy despite being the same age as him. Once again, it is because of class that she mocks him. She laughs at him for calling the Knaves Jacks. However, Pip falls in love with her even more despite her cruel actions and wishes to change and better his life in the hope of wooing Estella. She has caused a huge impact on Pips life because of the way she has been brought up to break their hearts and because she is the first pretty girl Pip has set his eyes upon. Pip first meets Herbert Pocket in the grounds of Satis House where he is challenged to a fight. Not knowing his name, Pip refers to him as the pale young gentleman. He was secretly afraid of him despite that he did not look very healthy. It could be that his fear is from being treated badly by those of higher status; however, Herbert treats him as an equal by playing and even returning Pips good will by saying same to you. This shows how he treats Pip more fairly unlike Estella. This gives us an insight that class is not an issue to all children. Another person similar to Pips age is Biddy. She comes to look after Joe, Mrs Joe and Pip and at once Pip recognises her intelligence. However, we can see a slight snobbery in the way Pip looks at her. He does not understand how she can learn quicker than Pip. From this we can see he acknowledges Biddys intelligence, but is also confused why he is not superior in that aspect which is rather snobbish. Although Pip and Biddy do not see each other in the same way (Pip did not know back then that Biddy loved Pip), Pip trusts Biddy immensely and tells her that he wants to be a gentleman on Estellas account. He has told no one else this, but still looks down on Biddy and thinks she is envious and grudging of his new wealth. He does not treat her as an equal in this aspect so it is difficult to see if we could call her a true friend. And as friends are important in childhood, its clear to see that Dickens is saying that Pip did not have much of one. Unlike today, Pip doesnt play any games nor is he allowed as much freedom to go out. He is whipped for visiting the graveyard, so he certainly wouldnt be able to go out with friends like children his age today. He is expected to learn from Joe in the forge and become apprenticed (PRENGTD) to him. Before receiving the fortune he has no choice, and at the beginning wants no other career; however we are now encouraged to consider many career options from a young age. This may have been because back then, you didnt have much chance other than to follow the family trade unless you had money. In Satis House he is expected to play in front of Miss Havisham, walk her and keep her company. Even though he is there to play, it is not by choice and he does not have fun by it. His games, for example cards, are very formal whereas today children would play informally and with children their own age, and so once again Dickens shows Pips lack of fun in childhood.

Cheesy Wheezy Essay Example for Free

Cheesy Wheezy Essay Starting as a small retail store in New Glarus, Wisconsin, the Cheezy Wheezy firm had slowly grown into a chain of nine retail shops located in southern Wisconsin and northern Illinois. In recent years, nearly all its competitors had begun issuing catalogs, widely distributed in late October, advertising gift packages of cheeses, jams, jellies, and other fancy food items. Henry Wilson, son of the firm’s founder, had convinced his father that Cheezy Wheezy should also issue a catalog. It was then March, and the last snows were melting. Henry Wilson had called his third staff meeting in as many weeks to discuss the catalog project. Present were Henry (whose title was vice president); Susan Moore, the sales manager; Jeff Bell, the inventory manager; and Robert Walker, the traffic manager. Also present was Robert Caldwell, from a Milwaukee-based ad agency that was handling many aspects of the catalog project. Moore and Caldwell had just finished describing the catalog’s tentative design and the allocation of catalog pages to various product lines. Caldwell then said, â€Å"We are to the point where we must design the order form, which will be stapled inside the center pages. It will be a single 8 1/2-by-11-inch sheet. The customer will remove it from the catalog, complete it, fold it into the envelope shape, lick the gummed lines, and mail it in. The order form will be on one side of the sheet. On the other will be the instructions for folding and Cheezy Wheezy’s mailing address in New Glarus; the remainder of the space will be ads for some impulse items. Right now we’re thinking of a Santa Claus–shaped figure molded out of cheese. â€Å"Enough of that,† said Wilson, â€Å"this group isn’t here to discuss Santa dolls. We’re here to design the order form. We may also have to talk a little about selling terms. Susan? † Responding to her cue, Moore said, â€Å"Our biggest problem is how to handle the transportation and shipping costs. We’ve studied all our competitors’ catalogs. Some absorb the costs into the product’s price, some charge by weight of the order, some charge by money value of order, and some ship COD. † â€Å"How important are shipping costs, Susan? † asked Bell. â€Å"Plenty,† was her response. They run $2 to $3 for a 1- or 2-pound package. If you take a pound of cheese that we sell in our retail stores for $2, here are our costs if it goes by catalog: cost of goods, $1; order management, 50 cents; overhead, including inventory carrying costs, 50 cents; packaging for shipment, 50 cents; and transportation costs to any point in the United States ranging between $1. 75 and $3. 20. If, however, we’re dealing with bigger shipments, the relative costs vary. †  "I’m not following you,† said Wilson. â€Å"It’s like this,† responded Moore. The wholesale cost of cheese to us is the same per pound, no matter how much is sold. Order-processing costs are approximately the same for each order we’ll be receiving by mail. Overhead and inventory carrying costs are always present but may be allocated in a variety of ways. Packaging costs are also about the same per order. They go up only a few cents as we move to larger cartons. Transportation costs are hard to describe because of their tapers. Right now our whole catalog project is bogged down with the problem of transportation cost tapers. † â€Å"Tapers? † said Wilson, turning to Walker. You’ve never told me about tapers before. It sounds like some kind of animal. † â€Å"That’s tapir, t-a-p-i-r,† said Walker. â€Å"We’re talking about tapers, t-a-p-e-r-s. † â€Å"Oh,† said Wilson. â€Å"What are they? † â€Å"When one ships small packages of cheese,† said Walker, â€Å"rates are based on two factors, the weight being shipped and the distance. As weight or distance increases or both—the rates go up but not as quickly. This is called the tapering principle. To ship 2 pounds of cheese from New Glarus to St. Louis costs $2. 40; 3 pounds cost $3. 30; 5 pounds cost $4. 60; and so on. One hundred pounds—no, 50 pounds is a better example because some of the parcel services we’ll be using won’t take 100 pounds—50 pounds would cost $21. There’s also a distance taper. The 2-pound shipment that costs $2. 40 to St. Louis is $3. 40 to Denver and $4. 15 to Los Angeles. † â€Å"Can’t we use the average transportation costs? † asked Bell. â€Å"That’s what we do with inventory carrying costs. † â€Å"Won’t work,† said Caldwell. â€Å"You’ll be overpriced for small, short-distance shipments and will lose sales. For heavy long shipments, you’ll be underpriced and will make so many sales that you might soon go belly up. Wilson shuddered and inquired, â€Å"Does that mean we charge by weight and by distance? † Moore answered, â€Å"It’s not that easy. In the cheese business, people buy by the pound, but shipping weights—which include packaging—are actua lly more. A customer who orders 3 pounds of cheese is in fact receiving 3 pounds of cheese plus 6 ounces of packaging materials. I wish we could sell a pound of cheese that consisted of 14 ounces of cheese and 2 ounces of packing material, but that would be illegal at worst, and of questionable ethics, at best. † â€Å"We have the same problems with distance,† added Walker. We’re trying to sell in 50 states, but who knows how far they are from New Glarus? We could have tables and maps in the catalog, but they take up valuable selling space. Also, if it looks too complex, we may just turn off some potential customers before they complete their orders. † â€Å"Some of our clients have another problem,† added Caldwell, â€Å"and that is split orders. The customer will want 10 pounds of cheese, but it will be five 2-pound packages sent to five different locations. That has an impact on both packaging and transportation costs. † â€Å"So, what do we do? â₠¬  asked Wilson.

A Film Review On The Film Thunderheart

A Film Review On The Film Thunderheart In this film review Im going to discuss how the Native Indians and white Americans are presented in the film Thunderheart and the stereotypes within the film and in which extent it meets the overall purpose. Thunderheart is about an quarter Native Indian FBI agent called Ray Levoi that wont except his Native Indian background and considers himself to be a white American. However things changed when he was assigned to investigate murders that have taken place in the Badland South Dakota. Purely because of his background he was given this task, Ray wasnt keen on doing the task, his body langue said it all four minutes into the film he was very stiff all the way through the interview, small pauses when I was asked questions as well as denying that he knew his biological father who was half Sioux saying he died when he was a baby. Beside how he felt, to please the white man he thanks him and got on with it. Already made his mind up that these murders were done by the Sioux Indians, he go es to reservation area and looking for the prime suspect Jimmy who he believes is responsible for the murders because Frank Coutelle also an FBI agent who he admires told him so. However series of events that take place Ray starts to doubt that Jimmy is responsible, but Frank sidetracks him and makes him believe that the Native Indian police planed the evidence. The change doesnt come quickly 40 minutes into the movie Ray is still denying his heritage when he was asked by Maggie about his nationality he replied The United States this just shows the audience that he is willing to lie to everyone even to those that already know about it. But at some stage in the course of the story, Ray is freed from his stuck-up attitude to Indian culture with the help of spiritual journey that he experience, made to understand the many problems of the violence torn Indian community and forced to accept his own past (the film is set in the late 1970s). Inspired by real events that have took place on several American Indian reservations during the early 1970s, particularly the Wounded Knee incident in South Dakota. The aim of this film was to create a different version of the Wild West and not the Hollywood type where the American Indians are portrait to be savages, indigence and violent people that arent civilised. This film is trying to get away from that entirely and want to show what the American government has treated native Americans The opening scene of the film shows the Native Indians doing a Pow-wow dance, in the early hours of the morning just as the sun is rising. It is a beautiful setting with a blue sky and a tinted shade of light orange at the bottom of the horizon by the waking sun. This portraits them to be spiritual people that are connected to their culture and that they live a very simple life compare to the way the white Americans live. Pow-wow dance is about renewing thoughts of the old ways and to preserve a rich heritage and also that the community bond stays tight because without that they wont have much left. The Native Indians are shot in medium-close-up given them a sense of power and importance and not the outsider that isnt not part of the American dream. As it gets lighter the camera moves away giving a long shot of the whole ceremony that is surrounded by mounts which shows that they coexist with nature and that over the years nothing has changed in terms of the landscape. However this a lso shows how isolated they really are from the outside world and from the number of people that come to the ceremony it indicates that there arent many Native Indians left because normally large number of people would attend it. As the sun light gets stronger the Native Indian fade way, this is symbolic because it shows that the invasion of the white people happened so fast that feels like the change occurred over night and that the Native American become invisible as if they werent there anymore, just part of the history now. The background music that is played in this scene which consists of Shamanic drums, traditional Native American flute and people singing, is very peaceful, relaxing, makes you feel closer to natural life and gives the audience a flavour of what the native culture is like. Two minutes into the film the Extreme Long Shot, gives the audience the perfect view of the Badlands landscape, which shows that over the years there hasnt been any dramatic change, which in dicates that the Native Indians respect the natural habitat that they live in. In the next shot is depressing and mostly shocking to the audience because that last thing they expected. In this scene a Native Indian man is running from the distance, with windswept hair, clear sky, and the sun giving a warm feel and being in the middle of the screen enhances his beauty even more, giving the audience the impression that he is free as the wind, but the closer he gets you can hear that he is breathing heavily, tired and things arent what they seem. The audience were set to believe that everything was good like that American government tells them and all of sudden they witness someone being shot in cold blood. This just show that the white Americans are ruthless killers that have no remorse to what they are doing and are treating these people like animals, in which makes that white man the hunters and the Native Americans the prey. This shows that even the FBI agents that meant to restore order and peace are the same people that are committing these horrendous crimes . Even the people at the very top believe that the indigenous people dont fit into their society therefore they need to help these people that are caught in the illusion of the past to come to terms of the reality of the present. This just shows that the white man are there to change the indigenous people way of life, culture because they are burdening the image they are trying to sell to the rest of world, which consists of being on the move consistently and that hard labour pays. Indigenous This sense of place helps the movie with its weakest story element, the supposition that because the Kilmer character is a quarter Indian, he will somehow summon up his roots to help him decide between good and evil. An FBI agent at the time this film was shot would probably have had little difficulty in choosing between his roots and the rule book, and the rules would have won. Still, this is a movie, after all, and at the end there is a sense of rightness in the way everything turns out. There is also the sense that we have seen superior acting, especially by Kilmer.

Characterization, Tone, and Setting in The Story of an Hour :: The Story of an Hour

Characterization, Tone, and Setting in The Story of an Hour 1 The theme of â€Å"The Story of an Hour† is do not believe everything that is told to you until you see it yourself. This story is understood better when you focus on these three critical concepts, characterization, tone and setting. 2 First off is characterization, which is important for what is upcoming at the end of the story. To understand this you must understand the character of Louise Mallard. Louise was young looking with fair skin and a calm face, who spoke repression and some strength. [?] She also has a heart problem, which means the death of her husband has to be broken to her as gently as possible. But now [?] there is nothing but a dull stare gazing into the patches of blue sky as if she was in intelligent thought. 3 The second of the three critical concepts I am using is tone. Tone is the prevailing attitude as perceived by the reader. Attitudes I got from reading this story were sad and shocked. The sad part is when her husband had died in a railroad disaster. It was her sister who had, with broken sentences, slowly told her that he had died. Mr. m[M]allard's friend Richard was also there at the time to assist Josephine in breaking the bad news. After they had told her, she had looked [?] herself in her room and stared out the window. The second attitude was shocked this was how I felt at the end of the story. [CS - 1] The reason I did is when Josephine finally got Louise to come out of her room and come back downstairs. [Frag -1] On the way downstairs the front door opened and in walked Mr. Mallard who was supposedly dead. The sight of him shocked Louise so much that it had caused her to have a heart attack and die. This was shocking to me because they had said that he had die d in a railroad accident and the second telegram confirmed it. But Mr. Mallard had said that he was now were [nowhere; Hostage 50] near the supposed accident even though [?] he did not even hear about one.

Rethinking the American Dream in Coney Island of the Mind, Why Wallace?, and Goodbye, Columbus :: Coney Wallace Columbus

Rethinking the American Dream in Coney Island of the Mind, Why Wallace?, and Goodbye, Columbus      Ã‚  Ã‚   Webster defines a dream as "something notable for its beauty, excellence, or enjoyable quality." This seems, logically, something that everyone desires to obtain. However not everyone is the same therefore each dream is not the same. According to certain works of literature regarding the 1950's-60's though, it appears as if many people are quite disillusioned and believe their dream is the one and only dream suitable for everyone. This American Dream consists of a nice job, nice spouse, nice house, nice kids, nice car and all the money, money, money you can get your hands on. Anyone who desires differently is unacceptable.    But what happens when people finally start to realize, heaven forbid, that this one dream isn't a dream at all and is not the ultimate source of happiness? A rebellion against this materialistic society takes place. Lawrence Ferlinghetti, in his poem "A Coney Island of the Mind," illustrates this dissatisfaction with American society:    "...on a concrete continent spaced with bland billboards illustrating imbecile illusions of happiness The scene shows fewer tumbrils but more maimed citizens in painted cars and they have strange license plates and engines that devour America" (Ferlinghetti,131).    America is supposed to be the great capitalistic society, but Ferlinghetti sees otherwise. Billboards feature material assets in a style showing its necessity for human happiness. By calling this happiness the billboards represent an illusion, Ferlinghetti is speaking out against materialism. This materialism has apparently also horribly disfigured America and it's citizens. The citizens believe that the more material possessions one has the happier they will be. Ferlinghetti says these material possessions such as cars and fancy license plates devour them instead and are possibly dictating their life.    Addressing this issue of a materialistic society is a common theme among many of the writer's during the 1950's and 1960's. In their writings Phillip Roth and Michael Novak both depict a family of this society. The parents of these writings have an "ideal" lifestyle and a standard for their children, which gives the children every reason to want to rebel. They want to break away from the thoughts and standards of their parents and society. In Roth's novel, Goodbye, Columbus, the character Mrs. Patimkin is much like the Andy Restek of Novak's "Why

Ethical Systems Essay

Ethical systems form the basis of moral beliefs; they are the moral philosophies that order moral principles systematically. (Thomson and WardSworth, 2005) Ethical systems can be broadly classified into deontological and teleological ethical systems. A deontological system concerns itself with the nature of an act that is under judgment, if an act is good but results in bad consequences than if it still considered a good act. Teleological systems judge consequences of an act, if an act is bad but results in beneficial consequences then it is considered moral. Ethical formulism judges the intent of the author thus, it is a deontological system. If a person performs an action from goodwill and it results in bad consequences, it is a moral action. This system also uses predetermined principles to judge goodness: that people should not be used as a means to an end, that behavior is moral when it is freely chosen and autonomous (someone worked to do a good thing is not really moral. ) and that actions should be based on behavior being universal. Utilitarianism is a teleological system whose goal is judged by consequences of an action. In this case when an action contributes much to the good of majority it is moral, regardless of the individual or minority who may have suffered because of the action. Following this system, Winston Churchill by allowing Coventry to be bombed in World War II so the Germans would not know the Allies had cracked their military code did a moral thing even though hundreds of English people were killed, when they might have been saved had they been warned. A smaller group was sacrificed for the sake of the greater good in this case, ending the war earlier and saving thousands more. Religion is a frequently used ethic system based on a willful a rational God. For believers there is no reason to question the authority of God’s will. The controversial issue is the interpretation of God’s will. According to Barry when is a dilemma; God’s will can be found in 3 ways; if one feels uncomfortable about a certain action, it is probably wrong. Religious authorities can provide guidance on right and wrong and thirdly the scripture provides answers to moral dilemmas. (Thomson and Wadsworth, 2005) The natural law ethical system proposes that ‘what is good is natural and what is natural is good’. These are innate instincts for example self-preservation is inborn, natural and basic and all actions related to it such as self-defense, prohibition of murder are moral acts. The basic problem with this system is where it is difficult to identify what is consistent and congruent with human nature. Focus on basic inclinations make this a teleological system because an action like killing may be wrong but if it is done in self-defense then it is considered a moral act since it is line with the self-preservation instinct. The ethics of virtue is a system that focuses on defining a good person as opposed to a ‘good action’. Here reason cannot be used to find out what is good. This system is teleological as it conserved with achieving a good end and more specifically happiness. One does good because of one’s character, if one has a bad character they will usually choose the immoral path. For example, a person who is broke and sees a stranger drop money without realizing calls the strangers back and gives him his money, he has performed a moral act because he has a habit of integrity. Someone else would steal because it is in his or her character to do so. The ethics of care system emphasizes human relationships and needs. It has been referred to as a feminine morality as it is founded on the natural human response to care for unborn child, ill and hurt. Some Eastern religious like, reject a rule-based form of ethics preferring instead to lead an individual in caring for needs. Braswell et al, 2002). The ethic behind rehabilitation is another illustration of ethics of care system. (Thomson and Wardsworth, 2005) This system is in line with teleological system of ethics because it does not simply classify action as wrong or right, rather it is concerned with the needs of others and effects of the actions on them, which learns more towards judging consequences corporations rather than the actions themselves. Egoism proposes that what is moral is what is good for one’s survival and personal happiness. This premise in its extreme directs that people should do whatever is beneficial to them. This disregards other people, using them as means to ensure happiness and in effect it means they have no meaning or rights (Thomson and Wadsworth, 2005) Egoism, sees an individual who performs a completely selfish act as immoral even impossible as it is not in line with true nature of human beings who like all other species have instincts for survival, self preservation and self in trust which is merely part of this natural instinct. This position is neither logical nor flexible single it would be in support of exploitation of the weak by the strong, which by all other systems is wrong. The system that closely matches my own beliefs is the religious ethical system. This is because the basis for ethics provided is rational since it can be identified wit a perfect God-figure. In addition, the similarity of the principles of these ethics in most of the religious are an indicator that they are acceptable to a wide majority hence they cover the needs of most of mankind adequately. In addition, scripture provides answers to ethical problems in all circumstances, something that most other ethical systems do not. The issue of say the birth contradicting only comes up when there is failure to understand the context of scripture. Belief in a God means that we do not have the responsibility of determining what is right, or wrong, since an unquestionable authority has determined them already.

Revenue Outstanding Measured as the Weeks Billing Outstanding

MEASURING OUTSTANDING REVENUE AS WEEKS BILLING OUTSTANDING By SACHIN GHOGLE Introduction Financial management focuses in finding the value in accounts receivable by emphasizing on improving the collections process and hence accelerating the cash flow. ‘Revenue Outstanding’ is the amount due from the customer as a result of an organisation’s normal business operation, that is, it is the amount that has been billed by organisations and is due, but which has not been collected. The management of ‘Revenue Outstanding’ is an important source of cash and hence an important parameter that the management should measure. The estimation of time to recoup the revenue outstanding is important to determine the profit of any organisation. Most prefer to receive payment immediately rather than to wait for it, especially because sometimes payment is never made in the latter scenario. There is no one general technique to estimate the time to recoup the revenue that can be adopted by all the organisations. It varies from organisation to organisation depending on the nature of business and the needs and strategies of the management. Although there is no certainty of receiving payments from all the customers, organisations use various methods to calculate the revenue outstanding or the payment that will be recovered later at a any particular point of time. The Weeks Billing Outstanding (WBO) measure calculates the revenue outstanding based on the total number of week’s billings required to recoup current Revenue Outstanding. The WBO is an important financial parameter, which shows the age in weeks, in an organization's accounts receivable and is defined in terms of the average time taken to convert the outstanding revenue into cash. The WBO measure helps the management to measure the effectiveness of collection activities and alert the management with problem accounts. If the WBO is low, then less time is spent to collect outstanding revenue. By quickly converting the billings into cash, the organisation can reinvest this cash and convert it into profits. 1 The WBO Measure A payer is responsible to pay for the services used. The total outstanding revenue of a payer is the sum of invoiced amount minus the cash received against some of the invoices minus the unallocated cash/ payments received as advance or prepayment from the payer. Some organisations report the outstanding revenue as being outstanding from the date of the invoice as opposed to the ‘due date’ of the payment. The Weeks Billing Outstanding is the total number of days billings corresponding to the payer required to recoup the current outstanding revenue for the payer divided by number of days in a week. WBO = DBO/7 This WBO is calculated for an individual payer level whereas the management needs the overall WBO for a single business unit or a particular territory. There are three methods to calculate the overall WBO for a single business unit. The overall WBO (Method 1) for a single business unit or a particular territory can then be calculated as the average of the WBO for all the payers within the corresponding business unit or territory. The overall WBO (Method 2) for a single business unit can be more accurately calculated from the business perspective by considering the weighted average of the individual WBO over an important business parameter (for example, the accumulated revenue over the past one year). These two methods can showcase the weak link or the strong link affecting the outstanding revenue. After identifying the weak link, the management can focus on the weak payers to reduce their outstanding revenue and to improve the overall cash flow within the system. The overall WBO (Method 3) can be calculated as the total number of days billings (cumulative for all the payers within the business unit) required to recoup the current total outstanding revenue for the business unit (cumulative for all the payers). Though this method cannot point the weak link, it is more accurate. 2 How to use WBO Measure Reference Date: 01 March 2008 Listed below are the aggregated Invoice figures for a Payer P1 Invoiced Amount $80,000 Cash Received $20,000 Open Amount $60,000 Unallocated Cash / Payments $15,000 Outstanding Revenue $45,000 Open Amount = Invoiced Amount – Cash Received Outstanding Revenue = Open Amount – Unallocated Cash / Payments Received US $45000 is the Outstanding Revenue from a Payer P1 Listed below is the Billing Details against Payer P1 Billing Date 1-Mar-2008 29-Feb-2008 28-Feb-2008 27-Feb-2008 26-Feb-2008 25-Feb-2008 24-Feb-2008 23-Feb-2008 22-Feb-2008 21-Feb-2008 20-Feb-2008 19-Feb-2008 18-Feb-2008 17-Feb-2008 16-Feb-2008 15-Feb-2008 14-Feb-2008 13-Feb-2008 Billing Amount $0 $0 $0 $1,000 $500 $0 $0 $0 $0 $0 $0 $0 $0 $2,000 $0 $0 $0 $2,000 Cumulative Billing Amount $0 $0 $0 $10,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $35,000 $35,000 $35,000 $35,000 $55,000 DAYNUM 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 This chart shows that a Billing of amount $55,000 against a Payer P1 which is greater that the outstanding revenue $45,000 from a payer P1is achieved after 18 days of billing counted from March 1, 2008. Thus the days billing outstanding that will be required to recoup the outstanding revenue is 18 days. 3 Hence the week s billing outstanding that will be required to recoup the outstanding revenue will be calculated as follows: WBO = DBO / 7 = 18 / 7 = 2. 57 Similarly, the WBO for each payer can be calculated. Consider the calculated WBO figures for n Payers to be as follows: Payer P1 P2 P3 P4 P5 P6 †¦ †¦ Pn WBO 4 2 15. 5 1. 5 1 0. 5 And the Management is interested in the Overall WBO measure for a business unit or a territory. Method 1 Overall WBO can be calculated as the average of the WBO’s of all the payers within the particular Business unit or territory. The overall WBO hence will be ? 1-N WBO ————N N = Total number of Payers The Overall WBO = (4 + 2 + 15. 5 + 1. 5 + 1 + 0. 5)/6 = 4. 09 The Overall WBO is 4. 9 even though the WBO for Payer P3 is 15. 5 4 Method 2 Now let us consider the following chart. Payer P1 P2 P3 P4 P5 P6 †¦ †¦ Pn WBO 4. 5 2 15. 5 3. 5 1 0. 5 Accumulated revenue over the past 1 year ( In Millions) 0. 5 1 50 5 2 0. 2 ? 1-n (WBO X Acc. Rev) . 25 2 775 17. 5 2 0. 1 x The considerations of a business parameter, here the Accumulated Revenue over the past one year for each of these payers will alter the view in which the WBO is to be measured from a management perspective. The management weighs payer P3 about 15 times more than payer P5 as the revenue accumulated from payer P3 is approximately 15 times more than that from payer P1. As the WBO for Payer P3 is high compared to the Overall WBO calculated in Method 1, the alternative to improve the calculation is to use a Weighted average of the WBO as opposed to the normal average. As per the new formula Overall WBO = ? 1-n (WBO X Acc. Rev) ——————————-? 1-n (Acc. Rev) Overall WBO = ( 2. 25 + 2 + 775 + 17. 5 + 2 + 0. 1) ——————————————-(0. 5 + 1 + 50 + 5 + 5 + 2 + 0. 2 ) = 798. 85 / 58. 7 = 13. 61 The new Overall WBO is now closer to the WBO of the Payer P3 who is a major payer for the organization. 5 Method 3 Listed below are the aggregated Invoice figures for a single business unit Invoiced Amount $1. 50 Cash Received $0. 80 Open Amount $0. 70 Unallocated Cash / Payments $0. 20 Outstanding Revenue $0. 50 $0. 5 million is the overall outstanding revenue for the business unit Listed below is the overall Billing Details for the business unit Billing Date -Mar-2008 29-Feb-2008 28-Feb-2008 27-Feb-2008 26-Feb-2008 25-Feb-2008 24-Feb-2008 23-Feb-2008 22-Feb-2008 21-Feb-2008 20-Feb-2008 19-Feb-2008 18-Feb-2008 17-Feb-2008 16-Feb-2008 15-Feb-2008 14-Feb-2008 13-Feb-2008 12-Feb-2008 11-Feb-2008 Billing Amount $0. 00 $0. 00 $0. 00 $0. 05 $0. 10 $0. 00 $0. 00 $0. 00 $0. 07 $0. 00 $0. 05 $0. 00 $0. 00 $0. 05 $0. 00 $0. 80 $0. 00 $0. 02 $0. 00 $0. 10 Cumulative Billing Amount $0. 00 $0. 00 $0. 00 $0. 05 $0. 15 $0. 15 $0. 15 $0. 15 $0. 22 $0. 22 $0. 27 $0. 27 $0. 27 $0. 32 $0. 32 $0. 40 $0. 40 $0. 42 $0. 42 $0. 52 DAYNUM 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 These charts show that a Billing of amount $0. 2 million which is greater that the outstanding revenue $0. 5 million is achieved after 20 days of billing counted from March 1, 2008. Thus the days billing outstanding that will be required to recoup the outstanding revenue is 20 days. Hence the weeks billing outstanding that will be required to recoup the outstanding revenue will be calculated as follows WBO = DBO / 7 = 20 / 7 = 2. 86 6 Based on the pros and cons of the various methods, every organization would select a method to measure its Weeks Billing Outstanding, which wil l form the baseline for their reporting. Then the management has to devise appropriate procedures to gather the required data to implement the selected method. 7

Health Promotion of the Older Adult

While previous perceptions o f health only included the physical body, health is now considered from a holistic point of v eel, encompassing the body, mind, and environment as opposed to only the absence of disease ( Chem., Hung, Line, Hang & Yang). I believe that while assessing one's health, especially that of a n older adult, the wellbeing of both the body and mind should be equally taken into considerate on. While this mindset takes on a holistic approach, I feel that it is possible to have an illness while still maintaining a degree of health.An example of this would be one who suffers from diabetes but lives an otherwise positive and productive lifestyle. My perception of health has been influenced by the examples my parents have e set Out for me. While my father put a lot of stress on the importance of the physical asps CT of health, encouraging an active lifestyle and proper nutrition, my mother taught the IM parlance of coping skills and positive environments. Both parents v iew themselves as relatively h lately and lead active lifestyles regardless of the genetically endowed illness such as heart disk ease with my ether and depression with my mother.My education is another influence of my perception of 3 health. Learning about the body and what it needs to function has made health h promotion and the maintenance of a healthy lifestyle important to me. After examining Mrs.. Hernandez case, several issues have been identified w which may impede the processes of healthy aging. Two of the issues selected for indents focus included Mrs.. Hernandez poor coping skills and poor access to necessary resources. During her assessment, Mrs..Hernandez stated that prior to the loss of her husband, she often prepared her own meals, whereas now she relies on prepackaged, and microwavable meals . Mrs.. Hernandez additionally stated that she no longer has an appetite and no longer enjoys the e taste or smell of food. These changes seem to coincide with the loss of her hu sband. Consequent entry, Mrs.. Hernandez level of health, as well as emotional well being would benefit fro m an improved level of coping skills. Mrs.. Hernandez seems to also lack active engagement in her life as a result of her poor coping skills. This is apparent in Mrs..Hernandez statement rage ding her abundance of time spent watching television as well as the little amount of it me she spends outside of her apartment. While examining limitations in Mrs.. Hernandez pr access of healthy aging, consideration Of her inaccessibility to appropriate resources is essential I. Mrs.. Hernandez stated that she obtains her food and supplies at the corner store. Immobility due to pain in her hips not only decreases her activities of daily living, but also isolates her as SSH e spends the majority of her time resting at home. A possible intervention for Mrs..Herman ex could be utilization of services that provides transportation to grocery stores, medical appointments, and social clubs. Eff ective management of her hip pain and possible physiotherapy y may also increase her physical functionality which could enable her to comfortably spend more time outside the home. 4 There are several chronological assessment tools available that cover many a aspects of healthy aging. The assessment tools that are especially pertinent to Mrs.. Here anode's current situation are the PANCAKES assessment, the family PAGE, and the GeriatricDepression scale (Toothy, Jet, Abstractors, & McCauley, 2012). PANCAKES is a comprehensive asses semen tool that incorporates the requirements needed in order to complete the activities of d lily living. This tool would help identify the needed resources and services in order to develop a p rationalized and efficient care plan. This assessment tool also helps with identifying any potent ail health and safety risks (Toothy et al. , 2012). This is especially important for Mrs.. Hernandez z as she currently resides alone. Due to the fact that Mrs..Hernand ez has recently suffered from the loss of a loved one, it is recommended that she receives a Familiarity test, which measure s the availability and quality of social supports. Using the results from this tool, a strategy cool d be implemented to help Mrs.. Hernandez develop positive relationships and ultimately, improve e On her coping skills. Finally, there is the Geriatric Depression Scale, which is used for mood measurement. This particular tool is recommended as Mrs.. Hernandez has shown signs of d oppression through her loss of appetite and level of activity.

Market Survey on Commodities Future Trading

An Industry Internship Project On COMMODITIES FURTURE TRADING WITH RESPECT TO GEOJIT COMTRADE LTD – MARKET SURVEY Done at CALICUT, KERALA Under the guidance of MRS. C. ANITHA RANI (Asst. Professor of Marketing Dept. ) (Project Guide) Mr. CHACKO . C. VARGHEESE (Regional manager) (Corporate Guide) Submitted By: LAKSHMI. P. K Roll No: 20028 SIVA SIVANI INSTITUTE OF MANAGEMENT KOMPALLY, SECUNDERABAD ACKNOWLEDGEMENTFirst of all I would like to thank Geojit COMtrade Ltd, which is a leading organization in commodity trading, for giving me an opportunity to work with them and to do Market Research to gain practical knowledge of how a Commodities Company works. My special obligations to my corporate guide Mr. Chacko C Varghese, Regional manager, GC Branch, Calicut, for granting permission to do the project in their esteemed organization. I thank him for dedicating his valuable time in reviewing my project work periodically and for directing me all the way.I am deeply indebted to thank my faculty guideAsst. Prof. C. Anita Rani. I also like to thank all my faculties who have taught me and haveshared their experience with mewhich has helped us in doing my project. I am thankful to Mr. Ajeesh Paul and Mr. Bijesh K. B, senior executives of Geojit COMtrade ltd, Calicut who was always ready to clarify my doubts related to the topic. And my sincere thanks to them. Also, I am thankful to my family, friends, and classmates and to the Almighty.Date: Signature Place: DECLARATION I, Lakshmi. P. K declare that this project entitled â€Å"Market research on commodity future trading with respect to Geojit COMtrade Ltd. †, submitted for the award of the PGDM Triple Specialization is a record of original project – research study- carried out during April 5th- June 5th) , that the project has not formed before the basis for the award of any Degree/ Diploma/ Associateship/ Fellowship of any other similar title.Ithas been completed by me at Geojit COMtrade Ltd, Calicut under the guidance ofAsst. Prof. Anita Rani,faculty of marketing department of Siva Sivani Institute of Management. Date: Signature Place: C O N T E N T S DECLARATION ACKNOWLEDGEMENT CERTIFICATE TABLE OF CONTENTS PAGE NO Chapter – IIntroduction 5 Statement of problem 5 Objectives of the study 6 Scope of study 6 Literature Review 6 Chapter – II Industry Profile 8 Company Profile 19 Departmental Details 26Chapter-III Research Methodology 44 Sources of data 45 Sampling Plan 45 Limitations 45 Chapter IV Data Analysis: Interpretation and Findings 46 Chapter-VSWOT Analysis 71 Conclusion 73 Suggestions 74 Bibliography 75 Annexure 76 CHAPTER -I INTRODUCTION Commodity trading is an area which has gained prominence ever since the dawn of civilization.It can be attributed to the fact that commodities are an integral part of our lives. Over these years there has been a tremendous growth in this segment which in turn has acted as the pillar of strength for the developmen t of our economy. This has made it an attractive investment avenue for investors. Earlier we witnessed lot of money being invested in those companies which specialized in the production of commodities. Now we have a trend reversal; commodities have gained prominence over the times.The rapidly advancing technology, particularly the Internet, has drastically changed the social and economic landscapes and every aspect of our daily lives. In the Securities Industry & Futures Commodities, the Internet has facilitated on-line trading, changing the way the market works, as well as the way the investors access the market. Having taken advantage of information technology at an opportune time, India has emerged as a front-running country of on-line trading in the global securities & commodities markets. On-line trading† is broadly defined as a trading mechanism where investors place orders and confirm trading results via electronic communication channels, such as the Internet, mobile ph ones, In India, the whole process of securities & commodities transactions, from order placement and routing, order execution, to trade confirmation, is fully automated, thus enabling the investors who have placed orders to confirm their trading results within few seconds. Geojit COMtrade Ltd. is a commodity trading service firm. It specializes in agricultural commodities, base metals, precious metals, bullion, and energy.The firm engages in trading services on commodities traded on the MCX and NCDEX in India. Its Research Division offers technical and fundamental research services. The firm also provides research on markets, currency, and economy. Geojit COMtrade Ltd. is based in Kochi, India. STATEMENT OF THE PROBLEM Online future commodities trading involve personal factors, technical factors, business factors and economic factors. The interplay of these factors on commodities market requires a deep study about the pattern process and procedures and performance.This study is inte nded to identify the various concepts about online commodities trading and its way of functioning. 1. To identify the level of awareness of commodities online future trading. 2. To identify the target consumer for online trading of commodities. 3. To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. 4. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. OBJECTIVES OF THE STUDYMy project work programmed was also directed to some particular targets and the main objectives of the study are as bellow; 1. To clearly state the awareness level about Geojit commodities 2. To understand the perception of people about Geojit commodities 3. To devise an approach by making people aware of Geojit commodities The Main purpose of conducting the Survey for Geojit COMtrade Ltd * To identify the target consumer for commodities b usiness. * To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. * To get a feel of the Customers’ perception about Geojit commodities services products. * To find an appropriate communication message for attracting the people to Geojit COMtrade Ltd SCOPE OF THE STUDY Globalization of the financial market has led to a manifold increase in investment. New markets have been opened; new instruments have been developed; and new services have been launched. Besides, a number of opportunities and challenges have also been thrown open.Online Commodities trading is new as compared to Equity market in India. Mainly three exchanges are involved in online commodities trading MCX, NCDEX & NMCE LITERATURE REVIEW So many studies are made in the area of commodity futur e trading. Some of the important studies are reviewed as follows; In a well-known literature survey on commodity futures research, Gray and Rutledge observed that, ‘Anyone who undertakes a survey of the literature on futures trading is confronted with an amorphous and rather disjointed list of publications (1971 p 57).Some of the pioneers in futures research, like Hol brook Working, Roger Gray, Tom Hieronymus, Allen Paul, and Henry Bakenwere based on an in-depth understanding of economic institutions, an appreciation of the major problems facing the industry, and careful analysis of relevant data. Gray and Rutledge (1971) provide the most comprehensive survey on futures markets and the topics covered in their review include evolutionary aspects of futures markets, inter-temporal price relationships, and concept of hedging, price variability, and the stochastic nature of price fluctuations. The Keynesian theory of normal backwardation was one of the earliest theories of the int er-temporal futures prices and it postulated that futures prices are biased estimates of forthcoming cash prices because hedgers must compensate speculators for assuming the price risk of holding future contracts * Working (1949) developed the idea that the primary function of commodity futures markets was the provision of the returns for the storage services, and he viewed inter-temporal prices as the jointly determined price of storage. Holbroook Working (1953) categorized alternative motives for commercial hedging in the commodity futures and these categories continue to be valid today. The three arbitrage hedging, operational hedging and anticipatory hedging. Since the futures and cash price converge in the delivery month, a commercial firm can ‘arbitrage’ the two markets and earn a risk-free return from the predictable change in the basis- the mathematical difference between the futures and cash price.Operational hedging facilitates commercial business by allowing firms to buy and sell on the futures markets as temporary substitutes for the subsequent cash market transactions. This provides firms with an avenue for being flexible in day-to-day operations and reducing price risk. Anticipatory hedges involve buying or selling futures contracts by commercial firms in ‘anticipation’ of the forthcoming cash market transactions. Price expectation plays a major role in this type of hedge. * Leuthold and Tomek (1980) explained that semi-perishables (e. . , butter, eggs, onions, potatoes) were traded at the turn of the century but the introduction of trading in nonstorables such as live hogs and live cattle in the 1960s was a watershed for the industry. They argued that since future prices for nonstorables are not being used to allocate inventories, forward pricing is an important economic justification for these markets They pointed out that some of the farmers remain concerned about the alleged adverse influence of futures trading. Acco rding to theoretical literature, primary commodity producers stand to derive considerable price risk reduction benefit from hedging with either future contracts or forward contracts (Johnson 1960; Stein 1961; McKinson in 1967; Danthine 1978; Holthausen 1979; Feder, Just and Schmitz 1980; Andearson and Danthine 1983) * According to empirical literature either minimum variance hedge ratios or optimal hedge ratios (i. e. % of output to be hedged) and has found large potential risk reduction benefits from hedging (Henifner 1972; Peck 1975; Ederington 1979; Grant and Eaker 198559; Casteino 1992; Lene, Kimle, and Hayenga 1993) * But both theoretical and empirical literature appears to contradict reality because very few primary producers actually hedge (Helmuth 1977; Berk 1981; Brorsen 1995) * Survey results of Blank, Carter and McDonald 1997 found thatfarmers prefer forward contracting to direct hedging with future contracts.According to Miller (1986) the one key distinguishing feature b etween these two factors is the absence of basic risk in forward contracting. * Carter and Loyns (1985) found that due to a high basis risk, there was a little incentive for Canadian feedlots to hedge cattle on the Chicago futures market. * Rolfo in 1980 suggested production risk as an explanation for the lack of hedging interest in the real world. Most research needs to be directed towards the impact of government farm programs on commodity futures markets, along the lines of Crain and Lee (1996) * The theory of price of storage explains inverted markets by appealing to the concept of convenience yield. According to this theory, the futures price can be less than the spot price plus the cost of carry when the commodity generates convenience yield. CHAPTER -II INDUSTRY PROFILE 1) COMMODITY MARKET A commodity is a material that is traded in big quantities and whose quality standards and price are objective and universally applicable.For example, gold is a commodity because quality st andards and price of gold are objective and universal, but gold jewelry is not a commodity because the price of jewelry depends on subjective factors such as design, brand image, etc. Other examples of commodities are: agricultural produce such as food grains, pulses, cotton, etc. ; metals such as nickel, zinc, aluminum, etc. Commodity markets  are markets where raw or primary products are exchanged. These raw commodities are traded on regulated  commodities exchanges, in which they are bought and sold in standardized contracts.It covers physical product (food, metals, and electricity) markets but not the ways that services, including those of governments, nor investment, nor debt, can be seen as a commodity. Commodity Market is an organized trader’s exchange in which standardized, graded products are bought and sold. Worldwide, there are 50 major commodity exchanges that trade over 100 commodities, ranging from wheat and cotton to silver and oil. The trading of commoditi es consists of direct physical trading and derivatives trading. Exchange traded commodities have seen an upturn in the volume of trading since the start of the decade.This was largely a result of the growing attraction of commodities as an asset class and a proliferation of investment options which has made it easier to access this market. Commodity trading Spot trading Spot trading is any transaction where delivery either takes place immediately, or with a minimum lag between the trade and delivery due to technical constraints. Spot trading normally involves visual inspection of the commodity or a sample of the commodity, and is carried out in markets such as  wholesale markets.Commodity markets, on the other hand, require the existence of agreed standards so that trades can be made without visual inspection. Forward contracts A  forward contract  is an agreement between two parties to exchange at some fixed future date a given quantity of a commodity for a price defined toda y. The fixed price today is known as the  forward price. Futures contracts A  futures contract  has the same general features as a forward contract but is transacted through a futures exchange. Futures contracts — which set a price for the delivery of a particular commodity in, say, six months or a year — are not themselves to blame.They're the grease that makes these markets function. Futures allow businesses like power companies or airlines to hedge against increases in fuel costs, or food processors to smooth over fluctuations in the price of wheat and corn. Wall Street plays an invaluable role, too, since financial investors — those betting that prices will fall, as well as those betting they'll rise — provide crucial liquidity. Commodity and futures contracts are based on what’s termed forward contracts. Early on these forward contracts — agreements to buy now, pay and deliver later — were used as a way of getting products from producer to the consumer.These typically were only for food and agricultural products. Forward contracts have evolved and have been standardized into what we know today as futures contracts.. In essence, a futures contract is a standardized forward contract in which the buyer and the seller accept the terms in regards to product, grade, quantity and location and are only free to negotiate the price. Hedging Hedging, a common practice of farming cooperatives insures against a poor harvest by purchasing  futures contracts  in the same commodity.If the cooperative has significantly less of its product to sell due to weather or insects, it makes up for that loss with a profit on the markets, since the overall supply of the crop is short everywhere that suffered the same conditions. Delivery and condition guarantees In addition, delivery day, method of settlement and  delivery point  must all be specified. Typically, trading must end two (or more) business days prior to the delivery day, so that the routing of the shipment can be finalized via ship or rail, and payment can be settled when the contract arrives at any delivery point.Most trading is done in futures contracts, that is, agreements to deliver goods at a set time in the future for a price established at the time of the agreement. Futures trading allow both hedging to protect against serious losses in a declining market and speculation for gain in a rising market. For example, a seller may sign a contract agreeing to deliver grain in two months at a set price. If the grain market declines at the end of two months, the seller will still get the higher price quoted in the future contract.If the market rises, however, speculators buying grain stand to profit by paying the lower contract price for the grain and reselling it at the higher market price. Spot contracts, a less widely used form of trading, call for immediate delivery of a specified commodity and are often used to obtain the goods nece ssary to fulfill a futures contract. An independent U. S. regulatory agency, the Commodity Futures Trading Commission was established in 1974 to regulate commodity markets. In 1982, the Chicago Mercantile Exchange introduced a futures contract for Standard ; Poor’s 500 U.S. companies that allow investors to speculate on the future prices of the stocks. Trading of S;P 500 and other financial futures has broken down some of the barriers that once separated stock, bond, and commodity markets and made it easier for investors to hedge their stock investments. Critics charge that the futures trading at the commodity markets in Chicago have made stock prices more volatile. The Chicago Board of Trade is the largest futures and options exchange in the Unites States, the largest in the world is Eurex, an electronic European Exchange.GLOBAL COMMODITY MARKET It is the trading of materials used to make finished products, Is far more important that what the most people give it credit for. It’s what to gives millions consumers worldwide their cups of creamy lattes, their breakfast cereals, the steel for their home construction, and even the fuel to run their cars. In fact international commodity trading is a multi-billion dollar business, and on average the number of trade executed in the commodity exchanges are about five times as much as those on major stock exchanges.And to be honest in the recent past it has been anything but dull. In the past five years commodities have provided all the thrills and spills of a high octane Vin Diesel movie. The idea of trading in commodity future contracts is really very old –school, although it has occurred new age glitz because of electronic exchanges. Most experts trace their origins back to Japan, were rice futures were first traded in the 17th century. Future market for precious metals such as gold and silver has also been around since in the 19th century with maize contracts with the Chicago Board Of Trade (CBO T).Basically commodity futures allow buyers and sellers to make bets on the expected future spot prices. They help both sides obtain insurance for the future value of their outputs or inputs. Cereals were first to be traded under the future contracts and the farmers were the first to use such contracts as they protect them from any steep fall in the value of crop harvested in future. Commodity future differed from equity derivatives in three important ways; 1. They are derivative securities not claims on long living corporations. 2. They are short maturity claims on real assets 3. nlike financial assets, they experience distinct seasonal variations in price and volatility Today there are more than 50 commodity exchanges in the world wide trading in more than 100 products. The major products come under five categories; 1. Precious metals (gold, silver, platinum, etc. ) 2. Industrial metals (copper, nickel, aluminum, zinc, etc. ) 3. Agricultural commodities (wheat, corn, cotton, oilse eds, coffee, cocoa, sugar etc. ) 4. Livestock (pork bellies, cattle, etc. ) 5. Energy(crude oil, natural gas, petrol, diesel etc. ) Oil makes up the world’s largest commodity future market. Daily turnover on the New York Mercantile Exchange(NY mex) alone totals about $15 billion) followed by coffee, steel, gold and wheat. New contract ideas however keep popping up all the time. For instance, freight futures are also traded on the Norwegian futures and Options Clearing house and the Nymex. While the Chicago Mercantile exchnge9 now taken over by the CBOT) offers contracts on temperatures, useful for hedging agricultural commodity or energy prices. COMMODITY FUTURE TRADING EVOLUTION OF FUTURE TRADING AND ITS PRESENT STATUS Organized future market evolved in India by the setting up of â€Å"Bombay Cotton Trade Association Ltd. in 1875. In 1893, following widespread discontent amongst leading cotton mill owners and merchants over the functioning of the Bombay Cotton Trade Associa tion, a separate association by the name â€Å"Bombay COTTON Exchange Ltd. † was constituted. Futures trading in oilseeds were organized in India for the first time with the setting up of Gujarati VyapariMandali in 1900, which carried on futures trading in groundnut, castor seed and cotton. Before the Second World War broke out in 1939 several futures markets in oilseeds were functioning in Gujarat and Punjab.Future trading in Raw Jute and Jute Goods began in Kolkata with the establishment of the Calcutta Hessian Exchange Ltd. , in 1919. Later East Indian Jute Association Ltd. was set up in 1927 for organizing futures trading in Raw Jute. These two association amalgamated in195 to form the present East India Jute ; Hessian Ltd. , to conduct organized trading in both Raw Jute and Jute goods. In case of wheat, future markets were in existence at several centers at Punjab and U. P. The most notable amongst them was Chamber of Commerce at Hapur, which was established in1913.Other markets were located at Amritsar, Moga, Ludhiana, Jalandhar, Fazilka, Dhuri, Barnala and Bhatinda in Punjab and Muzaffarnagar, Chansausi, Meerut, Saharanpur, Hathras, Ghazibad, Sikenderabad and Barielly in U. P. Futures market in Bullion began at Mumbai in 1920 and later similar markets came up at Rajkot, Jaipur, Jamnagar, Kanpur, Delhi and Calcutta. In due course several other exchanges were also created in the country to trade in such diverse commodities as pepper, turmeric, potato, sugar and Gur (jaggory). After independence, the Constitution of India brought the subject of â€Å"Stock Exchanges and Futures† in the Union list.As a result, the responsibility for regulation of commodity futures markets developed on Govt. of India. A bill on forward contracts was reffered t an expert committee headed by Prof. A. D. Shroff select committees of two successive Parliaments and finally in December 1952 Forward Contracts (Regulation) Act, 1952, was enacted. The Act provided for 3- tier regulatory system; (a) An association recognized by the Government of India on the recommendation of Forward markets Commission (b) The Forward Markets Commission (it was set up in September 1953) (c) The Central Government.Forward Contracts (Regulation) Rules were notified by the Central Government in July, 1954. The Act divides the commodities into 3 categories with reference to extent of regulation, viz: (a) The commodities in which futures trading can be organized under the auspices of recognized association. (b) The Commodities in which the future trading is prohibited. (c) Those commodities in which have neither being traded under the recognized association nor prohibited are referred as free Commodities and the association organized in such free commodities is required to obtain the certificate of Registration from the forward Markets Commission.In the seventies, most of the registered associations became inactive, as futures as well as forward trading in the commodities for which they were registered came to be either suspended or prohibited altogether. The Khursho Committee(June 1980) had recommended reintroduction of futures trading in most of the major commodities, including cotton, Kapas, raw jute and jute goods and suggested that steps may be taken for introducing futures trading in commodities, like potatoes, onions, etc. at appropriate time.The government, accordingly initiated futures trading in Potato during the latter half of 1980 in quite a few markets in Punjab and Uttar Pradesh. After the introduction of economic reforms since June 1991 and the consequent gradual trade and industry liberalization in both the domestic and external sectors, the Govt. of India appointed in June 1993 one more committee on Forward Markets under Chairmanship of Prof. K. N. Kabra. The Committee submitted its report in September 1994. THE MAJORITY REPORT OF THE Committee ecommended that futures trading be introduced in 1) Basmati Rice 2) Cotton ; Kapas 3) Raw Jute ; Jute Goods 4) Groundnut, rapeseed/mustard seed, cottonseed, sesame seed, sunflower seed, safflower seed, copra and soya bean, ; oils and oilcakes of all of them. 5) Rice brain oil 6) Castor oil ; its oilcake 7) Linseed 8) Silver ; 9) Onions. The committee also recommended that some of the existing commodity exchanges particularly the ones in pepper and castor seed, may be upgraded to the level of international future markets.The liberalized policy being followed by the Government of India and the gradual withdrawal of the procurement and distribution channel necessitated setting in place a market mechanism to perform the economic functions of price discovery and risk management. The National Agriculture Policy announced in July 2000 and announcements of Hon’ble Finance Minister in the Budget Speech for 2002-2003 were indicative of Governments resolve to put in place a mechanism of futures trade/market. As a follow up the Government issued notifications on 1. 4. 003 pe rmitting futures trading in the commodities, with the issue of these notifications futures trading is not prohibited in any commodity. Options trading in commodity are, however presently prohibited. ECONOMIC BENEFIT OF FUTURE TRADING ; ITS PROSPECTUS Futures contracts perform two important functions of price discovery and price risk management with reference to the given commodity. It is useful to all segments of economy. It is useful to producer because he can get an idea of the price likely to prevail at a future point of time and therefore can decide between various competing commodities, the best that suits him.It enables the consumer get an idea of the price at which commodity would be available at a future point of time. He can do proper costing and cover his purchases by making forward contracts. The futures trading is very useful to the exporters as it provides an advance information of the price likely to prevail and thereby help the exporter in quoting a realistic price an d thereby secure export contract in a competitive market. Having entered into an export contract, it enables him to hedge his risk by operating in futures market.Other benefits of futures are: (i) Price stabilization-in times of violent price fluctuations – this mechanism dampens the peaks and lifts up the valleys i. e. the amplitude of price variation is reduced. (ii) Leads to integrated price structure throughout the country. (iii) Facilitates lengthy and complex, production and manufacturing activities. (iv) Helps balance in supply and demand position throughout the year. (v) Encourages competitions and acts as a price barometer to farmers and other trade functionaries.Futures trading are also capable of being misused by unscrupulous speculators. In order to safeguard against uncontrolled speculation certain regulatory measures are introduced from time to time. They are: (a) Limit an open position of an individual operator to prevent over trading. (b) Limit on price fluctu ation (daily/weekly) to prevent abrupt upswing or downswing in prices (c) Special margin deposits to be collected on outstanding purchases or sales to curb excessive speculative activity through financial restraints. d) Minimum/maximum prices to be prescribed to prevent future prices from falling below the levels that are un remunerative and from rising above the levels not warranted by genuine supply and demand factors. During shortages, extreme like skipping trading in certain delivers of contract, closing the markets for a specified period and even closing out the contract to overcome emergency situations are taken. PROSPECTS With the gradual withdrawal of the government from various sectors in the ost liberalization era, the need has been felt that various operators in the commodities market be provided with a mechanism to hedge and transfer their risks. India’s obligation under WTO to open agriculture sector to world trade would require futures trade in a wide variety of primary commodities and their products to enable diverse market functionaries to cope with the price volatility prevailing in the worlds market. CHARECTERISTICS OF FUTURE TRADING A â€Å"Futures Contract† is a highly standardized contract with certain distinct features.Some of the important features are as under: (a) Futures trading are necessarily organized under the auspices of a market association s that such trading is confirmed to or conducted through members of the association in accordance with the procedure laid down in the Rules ; byelaws of the association. (b) It is invariably entered into for a standard variety known as â€Å"basis variety† with the permission to deliver other identified varieties known as â€Å"tender able varieties†. (c) The units of price quotation and trading are fixed in these contracts, parties to the contracts not being capable of altering these units. d) The delivery periods are specified. (e) The seller in a futures market has the choice to decide whether to deliver goods against outstanding sale contracts. In case he decides to deliver goods, he can do so not only at the location of the Association through which trading is organized but also at a number of other pre-specified delivery centers. (f) In futures market actual delivery of goods takes place only in a very few cases. Transactions are mostly squared up before the due date of the contract and contract and contracts are settled by payment of differences without any physical delivery of goods taking place.RECENT TRENDS IN COMMODITY TRADING Nature’s Commodity Outputs Commodity thinking is undergoing a more direct revival thanks to the theorists of â€Å"natural capital whose products, some economists argue, are the only genuine commodities- air, water and calories we consume being mostly interchangeable when they are free of pollution or disease. Whether we wish t think of these things as tradable commodities rather than birthrights has been a major source of controversy in many nations.Most types of environmental economics consider the shift to measuring them inevitable arguing that reframing political economy to consider the flow of these basic commodities first and foremost, helps avoids use of any military fiat except to protect â€Å"natural capital† itself, and basing credit-worthiness more strictly on commitment to preserving biodiversity aligns the long-term interests of eco regions societies, and individuals. They seek relatively conservative sustainable development schemes that would be amiable to measuring well-being over long periods of tie, typically â€Å"seven generations†, in line with Native American thought.Weather trading However, this is not the only way in which commodity thinking interacts with ecologists’ thinking. Hedging began as a way to escape the consequences of damage done by natural conditions. It has matured not only into a system of interlocking guarantees, but a lso into a system of indirectly trading on the actual damage done by weather, using weather derivatives for a rice, this relieves the purchaser of concerns such as whether a freeze will hurt the Brazilian coffee crop, whether there will be a drought in the U. S. orn belt and what the chances that we will have a cold winter are, driving natural gas prices higher and creating havoc in Florida orange areas. Emissions Trading Weather trading is just one example of â€Å"negative commodities†, units of which represent harm rather than good. â€Å"Economy is three fifths of ecology argues Mike Nickerson one of many economic theorists who hold that nature’s productive services and waste disposal services are poorly accounted for. One way to fairly allocate the waste disposal capacity of nature is â€Å"cap and trade†- market structure that is used to trade toxic emissions rights in the United States, e. . SO2. This is in effect a â€Å"negative commodity†, a ri ght to throw something away. In this market, the atmosphere’s capacity to absorb certain amounts of pollutants is measured, divided into units, and traded amongst various market players. Those who emit more SO2 must pay those who emit less. Critics of such schemes argue that unauthorized or unregulated emissions still happen, and that â€Å"grandfathering† schemes often permit major polluters, such as the state governments’ own agencies, or poorer countries, to expand emissions and take jobs, while the SO2 output still floats over the border and causes death.In practice, political pressure has overcome most such concerns and it is questionable whether this is a capacity that depends on U. S. clout: The Kyoto Protocol established a similar market in global greenhouse gas emissions without U. S. support. Community as a commodity This highlights one of the major issues with global markets of either the positive or negative kind. A community must somehow believe tha t the commodity instrument is real, enforceable, and well worth paying for. Avery substantial part of the anti-globalization movement opposes the Commodification of currency, national sovereignty, and traditional cultures.The capacity to repay debt, as in the current global credit money regime anchored by the Bank for international settlements, does not in their view correspond to measureable benefits to human wellbeing worldwide. They seek a fairer way for societies to compete in the global markets that will not require conversion of natural capital to natural resources nor human capital to move to developed nations in order to find work. Some economic systems green economists would replace â€Å"gold standard† with a â€Å"biodiversity standard†. It remains to be seen if such plans have any merit other than as olitical ways to draw attention to the way capitalism itself interacts with life. Human life as a commodity The green economists and the more conservative envi ronmental economics argue that not only natural ecologies, but also the life of the individual human being is treated as a commodity by the global markets. A good example is the IPCC calculations cited by the Global Commons Institute as placing a value on a human life in the developed world â€Å"15x higher† than in the developing world, based solely on the ability to pay to prevent climate changes. Overview of commodities exchange in IndiaForward Markets Commission (FMC) headquartered at Mumbai, is a regulatory authority which is overseen by the Ministry of Consumer Affairs, Food and Public Distribution, Govt. of India. It is a statutory body set up in 1953 under the Forward Contracts (Regulation) Act, 1952. â€Å"The Act provides that the Commission shall consist of not less than two but not exceeding four members appointed by the Central Government out of them being nominated by the Central Government to be thereof. Currently Commission comprises three members among whom Shri. B. C. Khatua, IAS, IS THE Chairman and Shri.D. S. Kolamkar IES, and Shri Rajeev Kumar Agarwal, IRS, are the members of the commission. † The functions of Forward Markets Commission are as follows: (a) To advise the Central Government in respect of the recognition or the withdrawal of recognition from any association or in respect of any other matter arising out of the administration of the Forward Contracts(Regulation) Act 1952. (b) To keep forward markets under observation and to take such action in relation to them, as it may consider necessary, in exercise of the powers assigned to it by or under the Act. c) To collect and whenever the Commission thinks it necessary, to publish information regarding the trading conditions in respect of goods to which any of the provisions of the act is made applicable, including information regarding supply, demand and prices, and to submit to the Central Government, periodical reports on the working of forward markets relating to suc h goods. (d) To make recommendations generally with a view to improving the organization and working of forward markets. (e) To understand the inspection of the accounts and other documents of any recognized association or any member of such association whenever it considers.List of Commodity Exchanges in India 1. Batinda Om ; Oil Exchange Ltd. , Batinda. 2. The Bombay Commodity Exchange Ltd. , Mumbai 3. The Rajkot Seeds oil ; Bullion Merchants` Association Ltd 4. The Kanpur Commodity Exchange Ltd. , Kanpur 5. The Meerut Agro Commodities Exchange Co. Ltd. , Meerut 6. The Spices and Oilseeds Exchange Ltd. 7. Ahmedabad Commodity Exchange Ltd. 8. Vijay Beopar Chamber Ltd. , Muzaffarnagar 9. India Pepper ; Spice Trade Association, Kochi 10. Rajdhani Oils and Oilseeds Exchange Ltd. , Delhi 11. National Board of Trade, Indore 12. The Chamber Of Commerce, Hapur 13. The East India Cotton Association, Mumbai 4. The Central India Commercial Exchange Ltd. , Gwalior 15. The East India Jute ; He ssian Exchange Ltd. 16. First Commodity Exchange of India Ltd, Kochi 17. Bikaner Commodity Exchange Ltd. , Bikaner 18. The Coffee Futures Exchange India Ltd, Bangalore 19. Esugarindia Limited 20. National Multi Commodity Exchange of India Limited 21. Surendranagar Cotton oil ; Oilseeds Association Ltd 22. Multi Commodity Exchange of India Ltd 23. National Commodity ; Derivatives Exchange Ltd 24. Haryana Commodities Ltd. , Hissar 25. e-Commodities Ltd Of these 25 commodities exchanges the MCX, NCDEX and NMCEIL are the major Commodity Exchanges.Multi  commodity exchange  of India Ltd – MCX is an independent and de-mutualised exchange based in Mumbai. Established on 10 November, 2003, it is the third largest bullion exchange and fourth largest energy exchange in the world. Recognized by the Government of India it deals in numerous commodities and carries out online trading, clearing and settlement processes for commodities future market  countrywide. MCX COMDEX is India's foremost and sole composite commodity futures price index National Commodity & Derivatives Exchange of India Ltd (NCDEX) located in Mumbai, is a public limited company incorporated on 23rd April 2003.Promoted by national level establishments it is run by professional management. Regulated by the Forward Market Commission with reference to futures trading in commodities, it trades in various commodities online. The NCDEX is covered by: * Companies Act * Stamp Act * Contracts  Act * Forward Commission (Regulation) Act National Multi-Commodity Exchange of India Limited (NMCEIL) is considered the first de-mutualized, online exchange dealing in numerous commodities. Incorporated on 20th December 2001, it is promoted and run by: * Central Warehousing Corporation National Agricultural Cooperative Marketing Federation of India Limited * Gujarat Agro Industries Corporation Limited * National Institute of Agricultural Marketing * Gujarat State Agricultural Marketing Board * Neptune Overseas Limited The Commodity Exchanges with their extensive reach embrace new participants, resulting in a powerful price discovery process. COMPANY PROFILE Evolution of the company It all started in the year 1987 when Mr. C. J. George and Mr. Ranajit Kanjilal founded Geojit as a partnership firm. In 1993, Mr. Ranajit Kanjilal from the firm and Geojit became the proprietary concern of Mr.C. J. George. In 1994, it became a Public Limited Company named Geojit Securities Ltd. The Kerala State Industrial Development Corporation Ltd. (KSIDC) in 1995, became a co-promoter of Geojit by acquiring a 24 percent stake in the company, the only instance in India of a government entity participating in the equity of a stock broking company. The year 1995 also saw Geojit being listed on the leading regional stock exchanges. Geojit listed at the stock exchange, Mumbai (BSE) in the year 2000. Company’s wholly owned subsidiary, Geojit Commodities Ltd. launched Online Future Trading in Agri -commodit ies, precious metals and energy futures on multiple commodity exchanges in 2003. This was also the year when the company was renamed Geojit Financial Service Ltd. (GFSL). The Board consists of professional directors; including a Kerala Government nominee. With effect from July 2005, the Company is also listed at National Stock Exchange (NSE). Company is a character member of the Financial Planning Standards Board of India and is one of the largest Depository Participant (DP) brokers in the country.On 31st December 2007, the company closed its commodities business and surrendered its membership in the various commodity exchanges held by Geojit Commodities Ltd. Global banking major BNP Paribas took a stake in the year 2007 to become the single largest shareholder. Consequently, Geojit Financial Services Ltd. has been renamed as Geojit BNP Paribas Financial Services Ltd. VISION The vision of Geojit is to be leading financial and commodities market intermediary for individuals and insti tutional clients from India band overseas.They continually strive to raise their products and service standards by intelligent application of technology and processes. MANAGEMENT OF GEOJIT COMTRADE Geojit COMtrade offers trading services in Commodities Futures. It is managed by a group of professionals having considerable years of experience and expertise in Commodities, ever since the reintroduction of Commodities Futures in India in 2003. Geojit COMtrade offers its client state-of-art trading tools such as:    * | * Technical and fundamental analysis at this website and also through the company's large branch network | * | * Research Reports | | * SMS alerts on market movement | * | * Content rich website | * | * Online trading | * | * Facility to view online ledger, holdings, positions, etc. | Geojit COMtrade also conducts seminars, distributes free in-house literature and holds interactive sessions that help raise awareness on the future market. The number of participants is c ontinuously on the rise thus leading to increased volumes and market efficiency. Geojit COMtrade is a member of the following Exchanges: * National Multi Commodity Exchange of India Limited (NMCE) | | * National Commodity ; Derivatives Exchange Limited (NCDEX) | | * Multi Commodity Exchange of India Limited (MCX) | | * National Spot Exchange of India Ltd (NSE) | Geojit COMtrade offers futures trading through multiple exchanges in varied commodities such as: Agricultural Commodities: | * Plantation Crops like Rubber, Coffee, Arecanut, etc. | | * Spices like Pepper, Cardamom, Turmeric, Jeera, Chilly, etc. | | * Pulses like Chana | | * Oil ; Oil Seeds like Refined Soya oil, Soya bean, Cotton seed, Mustard Seed, Mustard oil, etc. | * Cereals like Maize | | * Other commodities like Guar gum, Guar seed, Menthaoil, Potato, Sugar, etc. | | * Commodity Spot products like E Gold, E Silver, E Copper, E Lead, and E Zinc. | Precious metals: | * Gold, Silver, and Platinum | Metals: | * Copper, Le ad, Aluminum, Steel, Tin, Nickel, Zinc, etc. | Energy products: | * Crude oil, Natural Gas, Carbon Credits, etc. MILESTONES | | | Product innovation backed by a high level of domain specific knowledge and state-of-the-art technology has helped Geojit to set many milestones including numerous industries. 986 * Membership in Cochin Stock Exchange (CSE). 1994   * Becomes a Public Limited Company named Geojit Securities Ltd. 1995   * Kerala State Industrial Development Corporation Ltd. (KSIDC) acquires 24 percent equity stake. * Membership in National Stock Exchange (NSE). * Public Issue  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1996 * Launch of Portfolio Management Services with SEBI registration. 1997   * Depository Participant (DP) under National Securities Depository Limited. 1999   * Membership in Bombay Stock Exchange (BSE). 2000 * BSE Listing. * 1st broking firm in India to offer online trading facility. * Commences Derivative Trading with NSE. Integrates the 1st Bank Payment Gateway in the country for Internet Trading. 2001 * Becomes India's first DP to launch depository transactions through Internet. * Establishes Joint Venture in the UAE to serve NRI customers. 2002 * 1st in India to launch an integrated internet trading system for Cash & Derivatives segments. 2003 * Geojit Commodities Limited, wholly owned subsidiary, launched Online Futures Trading in agri-commodities, precious metals and in energy futures on multiple commodity exchanges. * National launch of online futures trading in Rubber, Pepper, Gold, Wheat and Rice. Company renamed as Geojit Financial Services Ltd. 2004 * National launch of online futures trading in Cardamom. 2005 * NSE Listing. * Geojit Credits, a subsidiary, registers with RBI as a Non-Banking Financial Company (NBFC). * National launch of online futures trading in Coffee. 2006 * Charter member of the Financial Planning Standards Board of India. 2007 * BNP Paribas takes a stake in the company’s equity, making it the single larg est shareholder. * Establishes Joint Venture in Saudi Arabia to serve the Saudi national and the NRI. 2008 * BNP Paribas Securities India (P) Ltd. – a Joint Venture with BNP Paribas S. A. or Institutional Brokerage. * 1st brokerage to offer full Direct Market Access execution in India for institutional clients. 2009 * Launch of Property Services division. * Launch of online trading in Currency Derivatives. * Consequent to BNP Paribas becoming the largest stakeholder in Geojit BNP Paribas, company is renamed as Geojit BNP Paribas Financial Services Ltd. 2010 * Launch of  FLIP (Financial Investment Platform), a new advanced online investment platform. * Launch of state of the art Mobile Trading platform to empower clients to trade from anywhere, even while on the move through the innovative application FLIP- ME. | | | | | Board of DirectorsMr. A. P. Kurian  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent ChairmanMr. C. J. George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Managing Director & Chief PromoterMr. Alkeshkumar Sharma  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. Olivier Le Grand  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Pierre Rousseau  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Mahesh Vyas   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. RakeshJhunjhunwala   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr.Ramanathan Bupathy   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. Pun noose George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorA growing footprintWith a presence in almost all the major states of India, the network of 558 offices across 300 cities and towns presently covers Andhra Pradesh, Bihar, Chattisgarh, Goa, Gujarat, Haryana, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, New Delhi, Orissa, Punjab, Rajasthan, Tamil Nadu & Pondicherry, Uttar Pradesh, Uttaranchal and West Bengal.GEOJITCOMMODITIES * Number 1 Broking house status in terms of Trading Terminals : Dun & Bradstreet Survey 2008 * The first brokerage to offer online trading in Rubber (Mar 2003), Pepper (Apr2003), Gold (Oct2003), Wheat and Rice (Dec2003), Cardamom (Apr 2004) and Coffee (Feb2006) * Brand image of Industry Pioneer since inception of commodity futures in 2003| Its clientele range from investors, co-operative societies, state and national institutions to dealers, traders, manufacturers, financiers, speculators, arbitragers, etc.Geojit COMtrade does not have proprietary interest in any commodity and therefore is price neutral. Transaction costs are highly affordable attracting a spectrum of investors. Membership in multiple exchanges gives clients the added advantage of arbitrage. Geojit has specialized staff that provide the required guidance, help and enable clients to enter at the appropriate price. Geojit COMtrade: Increasing investor awareness/education * Daily, weekly and special reports on various commodities & currencies covering both international as well as domestic markets. Seminars and workshops designed to help both the new clients as well as experienced traders. * Increased media spending to make ourselves more visible in print, visual as well as digital media, so that our reports and views reach better to our investo rs. * Offers SMS / email reports at no additional cost. GEOJIT ANTHEM DRIVEN BY TRUST â€Å"With trust, our driving force Transparent in daily chores, Passionate, compassionate, We keep Geojit on course Respectful of our call We care for our patrons’ all. Grateful for our growth before We seek blessings to grow tall. Shanti ho barabaar shanti ho Sayyam, Samridhi, Swaasthya ho,Geojit Jahaan ho! Expanding far and wide, And serving the world with pride, Loyalty inspiring us To be beyond the high tide; A brighter word to make Unfurling the flag we take; â€Å"All for one and one for all,† With love to last above all. DEPARTMENTAL STUDY Administration * Provides support and service for the activities of the board of directors * Coordination of branch activities and provision of interaction between branches and the main office * Expanding the reorganization of Bank market network. * To create appropriate condition for efficient operation of structural franchisees Human reso urceHuman Resources and Administration department is one, which facilitates smooth working of the organization by looking into the human resource side and also the overall administration of organization. The Human Resource Management is very important for the success of any organization. Different individual exhibit similar and dissimilar pattern of behavior. They have their own set of needs, drives, goals and experiences. Management should be aware of their requirements. Manpower management is the most critical job. Proper human resources management will enhance the efficiency and performance of people at work.HR MISSION * To create HR policies and processes which are employee friendly * To build a culture of warm forthcoming and professional with a sense of ownership and pride. * To encourage innovative thinking. * To encourage transparency and team work. * To develop leaders at all levels with general management skills. * To create a learning organization. * To develop competenci es and skills through training and development. * To constantly raise levels of employee productivity. * To work towards attaining and sustaining the best employer status Other functions ofHuman Resource Department RecruitmentRecruitment means generating a pool of qualified employees for job. Announcing job opportunities to public in such a way that number of suitable people will apply for them. Recruitment process is done only at the initial stage. Mainly qualified people are selected for work. Selection Selection means choosing right profile from that number, those applicants whom are most likely to succeed in the job. After getting the list of candidates an interview is conducted at the unit level. Final selection is made after testing their skill and technical abilities by putting them on the job. Training and developmentTraining and development is also done in Geojit. After recruitment and selection the new hands are given on the job training at the unit level. All workers are kept as trainers for three months to one year. Later they are absorbed as permanent workers considering their performance. Promotion Promotion is the transfer of an employee to a new position which comments high pay, privilege status both at work and the community outside and fringe benefits perhaps the greater job security. And more senior position from which a person render better service to his company. His duties, responsibilities, status and pay also increase.Company gives keen attention with regard to promotion. Wage structure Wage structure is different for different position Allowances Second most important component of wage package is dearness allowance, which is paid to offset the rise in prices. Allowances like conveyance, house rent etc. Employees provident fund Company follows contributory provident fund. The workers contribute some percentage of their wage (basic pay + DA) and the management contributes at an equal rate. Labor welfare fund There is a labor welfare fund in which the employee contributes some rupee per head and the employer contributes at double to the same.The fund enables the subscriber to get children treatment of self and dependents etc†¦ Thus all employees are covered social security schemes of government, enabling education of children of workers etc. Gratuity Employees are eligible for the gratuity based on payment of Gratuity Act, 1972 Welfare to workers Rest room A rest mean is covered provided to employees to relax at concerned time. Facilities of relaxing The company also provides siting facilities for workers when they are getting interval or lunch. Health One of the important thing is that the employees general health both physical and mental should be cared.The factors which influence the general health of the worker can be divided into two broad groups. 1) Those which are associated with his working environment 2) Those which he shares with the rest of the community Cleanliness The company is kept clean and free from effluvia. Accumulation of dust removed by proper drainage facility made in the chemical treatment. Walls, doors and windows shall be repainted or varnished at least once in three years Disposal of waste and effluence Effective arrangement shall be made for the disposal of waste. It does not harm any local people in any way. Ventilation and temperatureEffective arrangements shall be made for ventilation and temperature so as to provide comfort to the workers and prevent injury to their health. Adequate ventilation is made for fresh air. Air condition is provided for every room. Dust and fires Effective management shall be taken preview the inhalation and accumulation of dust and fires or other impurities in parities at workplace. Lighting The state government may prescribe standards of proper artificial nature lighting facilities are included. Drinking water There shall be effective arrangements for some drinking water for worker at convenient points.FINANCE AND ACCOUNTS Financ e is the lifeblood of any organization. It deals with both the acquisition as well as ‘allocation of funds. Hence finance department assumes a great role in this organization. A finance department in an organization is responsible for maintaining fair and just accounting, working capital management, long term funding decision making, costing etc. The finance department provides authorization and control to all other subsystems to utilize money more effectively through a well-designed mechanism the major functions of a finance department can be grouped as follows:- )Preparation of financial statement 2) Providing sufficient funds to all departments. 3) Cash flows within the firm 4) Cash forecasting and budgeting 5) Analysis of transactions conducted by each branch office 6) Pay in and Pay out DUTIES AND RESPONSIBILITIES Chief financial officer is the head of the finance department the entire financial operationsare controlled and coordinated by C. F. O. The entire reports are s ubmitted before him and it is his duty to take appropriate steps. He is assisted by Chief Manager Finance. The general accounts of the company are managed by the Chief Manager.Preparation of reports and statements also conies under his duty, matters concerning pay in and pay out are also determined and analyzed by Chief Finance Manager. The Chief Manager is assisted by Manager Finance. Below him there are two assistant managers, four executives and three junior executives. It is the duty of these people to record and analyze the normal accounts and transactions of a day and to report it to Chief Manager Finance. HIERARCHY OF AUTHORITY CHIEF FINANCIAL OFFICER CHIEF MARKETING OFFICER (fig-1)Department structural hierarchy JUNIOR EXECUTIVE EXECUTIVE ASSISTANT MANAGERMANAGING OFFICER The departmentis concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better  equipped in their management and control functions. The accounting department jointly performs the financial function of Geojit Functions of accounting department include preparing, checking and accounting the following vouchers and  bills. ? Cash receipt and cash payment. ?Bank receipt and bank payment. ? Purchase journal. Journal voucher. ?Preparing debit/credit notes. Updating vouchers in computer system. ?Preparation of reconciliation statement such as bank, party accounts etc. ?Maintain and safe custody of vouchers, records, ledgers and registers. ?Review of the general  ledger and sub ledger and reconciliation. ?Ensure safety custody of cash and  unused cheque. ?Maintain the fixed asset register and ensure proper filling of the bills of purchase, installation certificate etc. for the tax purpose. ?Ensure compliance of the various commitments for the borrowings and adherence of the schedule for the repayment of the interest and the principal.OPERATIONS DEPART MENT The past few decades have given-emphasis to operations functions mainly because it is the important subsystem of an organization and is responsible for customer satisfaction. As this department deals directly with customer satisfaction the company requires careful policies and procedures to carry out the activities under the operations department so that the services provided by them must be of a specific quality. The operations department of Geojit is again subdivided into five according to the services they deal with. They are 1) Risk management ; clearing and settlement ) Compliance 3) Commodity 4) Branch operations 5) Depository A study of each of these subdivisions is made their hierarchy, function of each official and the findings are noted in the coming pages. RISK MANAGEMENT ; CLEARING AND SETTLEMENT This is one of the subdivisions of the operations department. As stated earlier the operations departments are subdivided according to the functions they perform. Hence it is this subdivision of operations department which deals with the function of management of funds that arise from trading.Though buying and selling of shares take place daily in stock exchanges, settlements of transactions is executed for a specified no: of days after clubbing daily transactions for the entire period. This is known as settlements cycle. For example the beginning of a new settlement is on Wednesday of every week in N. S. E and it ends on next Tuesday. So it is the duty of this subdivision of the operations department to keep the recordsregarding transactions of each customer analyze whether he had made all the transactions in a proper way or not.It is the duty-of this department to check whether a person has paid the amount completely, if he had bought any shares and also to check whether the person is paid completely if he had sold the shares through Geojit. The chief manager (Risk and settlement) stands up in the hierarchy of the department and hence he is the head of the department. He controls and coordinates all the functions of this subdivision. Risk management of funds (of company and its branches) is one of the major functions. The chief manager is assisted by the senior manager (clearing and settlement).The senior manager (clearing and settlement) deals with the process of buying andselling of shares and thereby maintaining proper funds. There is an Asst. Manager under himwho checks the B. S. E operations. The Asst. Manager is assisted by three ‘senior executives' further there are executives junior executives and office assistants to help the topmanagement. A diagrammatic representation of the hierarchy of this departmental subdivision is given on next page. MANAGEMENT ; CLEARNING ; SETTLEMENT CHIEF MANAGER (RISK) SENIOR MANAGER (CLEARING ; SETTLE