The Jihad Trap :: September 11 Terrorism Essays

The Jihad Trap    The war America is engaged in after the attacks on the WTC, the Pentagon and Pennsylvania is a war for the hearts and minds of average Muslims around the world. Bin Laden, if indeed he is the mastermind behind the attacks, has set a trap for the US into which it must not fall. By attacking the US as part of a jihad ("a holy war"), Bin Laden is in fact claiming to Muslims to represent their grievances and to represent real Islam. He is in effect saying: "Muslims, I share your grievances unlike your corrupt and authoritarian governments; I am the only one doing something about it. I have destroyed the symbols of American capitalism and stopped the heartbeat of world finance which the US dominates." The US, as well as moderate Muslims the world over, must unite and deny him this symbolic victory and must not accept to engage him in combat on these terms. We should not let him define the terms of our intellectual and symbolic battle. As a professor of Islamic law I have researched the law of jihad and can state unequivocally that the war Bin Laden has engaged us in cannot be labeled a jihad. Furthermore, I believe a strong case can be made that he has acted contrary to the tenets of Islam and can be ostracized from the community of believing Muslims. Moderate Muslims will agree with me, certainly, as they are horrified by this attack and are desperate to have it disassociated from their religion. The West must provide moderate Muslims a way out of Bin Laden's trap. According to Islamic law there are at least six reasons why Bin Laden's barbaric violence cannot fall under the rubric of jihad: 1. Individuals and organizations cannot declare a jihad, only states can; 2. One cannot kill innocent women and children when conducting a jihad; 3. One cannot kill Muslims in a jihad; 4. One cannot fight a jihad against a country in which Muslims can freely practice their religion and proselytize Islam; 5. Prominent Muslim jurists around the world have condemned these attacks and their condemnation forms a juristic consensus (ijma`) against Bin Laden's actions. This consensus renders his actions un-Islamic; 6. The welfare and interest of the Muslim community (maslaha) is being harmed by Bin Laden's actions and this equally makes them un-Islamic.

Project on Comparison of Public and Private Sector Banking

Genesis The banking sector has been undergoing a complex, but comprehensive phase of  restructuring since 1991, with a view to make it sound, efficient, and at the same time it isforging its links firmly with the real sector for promotion of savings, investment and  growth. Although a complete turnaround in banking sector performance is not expected till thecompletion of reforms, signs of improvement are visible in some indicators under theCAMELS framework. Under this bank is required to enhance capital adequacy, strengthenasset quality, improve management, increase earnings and reduce sensitivity to variousfinancial risks.The almost simultaneous nature of these developments makes it difficult todisentangle the positive impact of reform measures. In 1994, the RBI established the Board of Financial Supervision, which operates as a unit of  the RBI. The entire supervisory mechanism was realigned to suit the changing needs of astrong and stable financial system. The supervisory ju risdiction of the BFS was slowlyextended to the entire financial system barring the capital market institutions and theinsurance sector. Its mandate is to strengthen supervision of the financial system byintegrating oversight of the activities of financial services firms.The BFS has alsoestablished a sub-committee to routinely examine auditing practices, quality, and coverage. In 1995, RBI had set up a working group under the chairmanship of Shri S. Padmanabhan toreview the banking supervision system. The Committee gave certain recommendations and  based on such suggestions a rating system for domestic and foreign banks based on theinternational CAMELS model combining financial management and sensitivity to marketrisks element was introduced for the inspection cycle commencing from July 1998.Itrecommended that the banks should be rated on a five point scale (A to E) based on the linesof international CAMELS rating model. CAMELS rating model measures the relativesoundness of a bank . bj ectives of the Pro j ect Study ?To study the Financial Performance of the b anks.? y To study the strength of using CAMELS framework as a tool of Performanceevaluation for Commercial banks y To describe the CAMELS model of ranking banking institutions, so as to analyze  the  performance of various bank. R ationaleIn the recent years the financial system especially the banks have undergone numerouschanges in the form of reforms, regulations & norms. The attempt here is to see how variousratios have been used and interpreted to reveal a bank ¶s performance and how this particular  model encompasses a wide range of parameters making it a widely used and accepted modelin today ¶s scenario. Data Collection y Primary Data : Primary data was collected  from the Banks ¶ balance sheets and profitand loss statements. y Secondary Data : Secondary data on the subject was collected from ICFAI journals,Banks ¶ annual reports and RBIM ethodologyAs long as the methodology is co ncerned, we have made use of a framework calledCAMELS FRAMEWORK. There are so many models of evaluating the performance of the  banks, but I have chosen the CAMELS Model for this purpose. I have gone through several  books, journals and websites and found it the best model because it measures the  performance of the banks from each parameter i. e. Capital, Assets, Management, Earnings,Liquidity and Sensitivity to  Market risks. CAMELS evaluate banks on  the following six parameters : -? Capital Adequacy (CRAR)? Asset Quality (GNPA)? Management Soundness (MGNT)?Earnings & profitability (ROA)? Liquidity (LQD)? Sensitivity to Market  Risks (? ) websitDuring an on-site bank exam, supervisors gather private information, such as details on  problem loans, with which to evaluate a bank's financial condition and to monitor itscompliance with laws and regulatory policies. A key product of such an exam is asupervisory rating of the bank's overall condition, commonly referred to as a CAMELSrating. The acronym â€Å"CAMEL† refers to the five components of a bank's condition that areassessed : Capital adequacy, Asset quality, Management, Earnings, and Liquidity.A sixthcomponent, a bank's Sensitivity to market risk was added in 1997; hence the acronym waschanged to CAMELSAMELS is basically a ratio-based model for evaluating the performance of banks. Variousratios forming this model are explained below : Capital base of financial institutions facilitates depositors in forming their risk perceptionabout the institutions. Also, it is the key parameter for financial managers to maintainadequate levels of capitalization. The most widely used indicator of capital adequacy iscapital to risk-weighted assets ratio (CRWA).According to Bank Supervision RegulationCommittee (The Basle Committee) of Bank for International Settlements, a minimum 9  percent CRWA is required. Thus, it is useful to track capital-adequacy ratios that take intoaccount the most important financial risks? foreign exchange, credit, and interest raterisks? by assigning risk weightings to the institution ¶s assets. A sound capital basestrengthens confidence of depositors. This ratio is used to protect depositors and promote thestability and efficiency of financial systems around the world. Capital R isk Adequacy R atio:CRAR is a ratio of Capital Fund to Risk Weighted Assets. Reserve Bank of India prescribesBanks to maintain a minimum Capital to risk-weighted Assets Ratio (CRAR) of 9 % withregard to credit risk, market risk and operational risk on an ongoing basis, as against 8 %  prescribed in Basel documents. Component-wise Capital Adequacy of ScheduledCommercial Banks (As at end- M arch) Capital to R isk W eighted Assets R atio- Bank Group-wise Total capital includes tier-I capital and Tier-II capital. Tier-I capital includes paid up equitycapital, free reserves, intangible assets etc.Tier-II capital includes long term unsecuredloans, loss reserves, hybrid debt ca pital instruments etc. The higher the CRAR, the stronger  is considered a bank, as  it ensures high safety against bankruptcy. Asset quality determines the robustness of financial institutions against loss of value in theassets. The deteriorating value of assets, being prime source of banking problems, directly  pour into other areas, as losses are eventually written off against capital, which ultimately  jeopardizes the earning capacity of the institution. With this backdrop, the asset quality isgauged n relation to the level and severity of non-performing assets, adequacy of  Ã‚  provisions, recoveries, distribution of assets etc. Popular indicators include non-performingloans to advances, loan default to total advances, and recoveries to loan default ratios. One of the indicators for asset quality is the ratio of non-performing loans to total loans(GNPA). The gross non-performing loans to gross advances ratio is more indicative of thequality of credit decisions made by bankers. Higher GNPA is indicative of poor creditdecision-making. N PA: N on-Performing Assets:Advances are classified into performing and non-performing advances (NPAs) as per RBIguidelines. NPAs are further classified into sub-standard, doubtful and loss assets based onthe criteria stipulated by RBI. An asset, including a leased asset, becomes non-performingwhen it ceases to  generate income for the Bank. An NPA is a loan or an advance where : 1. Interest and/or installment of principal remains overdue for a period of more than 90days in respect of a term loan;2. The account remains â€Å"out-of-order† in respect of an Overdraft or Cash Credit(OD/CC);3.The bill remains overdue for  a period of more than  90 days in case of bills purchasedand discounted;4. A loan granted for short duration crops will be treated as an NPA if the installmentsof principal or interest thereon remain overdue  for two crop seasons; and5. A loan granted for long duration crops will be treat ed as an NPA if the installmentsof principal or interest thereon remain overdue  for one crop season. The Bank classifies an account as an NPA only if the interest imposed during any quarter isnot fully repaid within 90 days from the end of the relevant quarter. This is a key to thestability of the banking sector.There should be no hesitation in stating that Indian bankshave done a remarkable job in containment of non-performing loans (NPL) considering theoverhang issues and overall difficult environment. For 2008, the net NPL ratio for the Indianscheduled commercial banks at 2. 9 per cent is ample testimony to the impressive efforts  being made by our banking system. In fact, recovery management is also linked to the  banks ¶ interest margins. The cost and recovery management supported by enabling legalframework hold the key to future health and competitiveness of the Indian banks.No doubt,improving recovery-management in India is an area requiring expeditious and effective actions in legal, institutional and judicial processes. Management of financial institution is generally evaluated in terms of capital adequacy,asset quality, earnings and profitability, liquidity and risk sensitivity ratings. In addition,  performance evaluation includes compliance with set norms, ability to plan and react tochanging circumstances, technical competence, leadership and administrative ability. Ineffect, management rating is just an amalgam of performance in the above-mentioned areas.Sound management is one of the most important factors behind financial institutions ¶Ã‚  performance. Indicators of quality of management, however, are primarily applicable toindividual institutions, and cannot be easily aggregated across the sector. Furthermore, giventhe qualitative nature of management, it is difficult to judge its soundness just by looking atfinancial accounts of the banks. Nevertheless, total expenditure to total income and operating expense to total expense helps in gauging the management quality of the banking institutions.Sound management is key to  bank performance but is difficult to measure. It is primarily a qualitative factor applicable toindividual institutions. Several indicators, however, can jointly serve? as, for instance,efficiency measures do-as an indicator of management  soundness. The ratio of non-interest expenditures to total assets (MGNT) can be one of the measures toassess the working of the management. . This variable, which includes a variety of expenses,such as payroll, workers compensation and training investment, reflects the management  policy stance. E fficiencyR atios demonstrate how efficiently the company uses its assets and howefficiently the company manages its operations. Indicates the relationship between assets and revenue. ? Companies with low profit margins tend to have high asset turnover, those with high  profit margins have low asset turnover – it indicates pricing strategy. ? This rati o is more useful for growth companies to check if in fact they are growingrevenue in proportion to sales. Asset Turnover Analysis: This ratio is useful to determine the amount of sales that are generated from each rupee of  assets.As noted above, companies with low profit margins tend to have high asset turnover,those with high profit margins have low asset turnover. Earnings and profitability, the prime source of increase in capital base, is examined withregards to interest rate policies and adequacy of provisioning. In addition, it also helps tosupport present and future operations of the institutions. The single best indicator used togauge earning is the Return on Assets (ROA), which is net income after taxes to total assetratio. Strong earnings and profitability profile of banks reflects the ability to support present andfuture operations.More specifically, this determines the capacity to  absorb losses, finance itsexpansion, pay dividends to its shareholders, and build up a n adequate level of capital. Being front line of defense against erosion of capital base from losses, the need for highearnings and profitability can hardly be overemphasized. Although different indicators areused to serve the purpose, the best and most widely used indicator is Return on Assets(ROA). However, for in-depth analysis, another indicator Net Interest Margins (NIM) is alsoused. Chronically unprofitable financial institutions risk insolvency.Compared with mostother indicators, trends in profitability can be more difficult to interpret-for instance,unusually high profitability can reflect excessive risk taking. R O A- R eturn on Assets: An indicator of how  profitable a company is relative to its total assets. ROA gives an  idea asto how efficient management is at using its assets to generate earnings. Calculated bydividing a company's annual earnings by its total assets, ROA is displayed as a percentage. Sometimes this is referred to as â€Å"return on investment†. ROA tells what earnings were generated from invested capital (assets).ROA for publiccompanies can vary substantially and will be highly dependent on the industry. This is why when using ROA as a comparative measure, it is best to compare it against a company's  previous ROA numbers or the  ROA of a similar company. The assets of the company are comprised of both debt and equity. Both of these types of  financing are used to fund the operations of the company. The ROA figure gives investorsan idea of how effectively the company is converting the money it has to invest into netincome. The higher the ROA number, the better, because the company is earning moremoney on less investment.For example, if one company has a net income of $1 million andtotal assets of $5 million, its ROA is 20%; however, if another company earns the sameamount but has total assets of $10 million, it has an ROA of 10%. Based on this example,the first company is better at converting its investment into profit. When you really think  about it, management's most important job is to make wise choices in allocating itsresources. Anybody can make a profit by throwing a ton of money at a problem, but veryfew managers excel at  making large profits with little investment. R eturn on Assets and R eturn on E quity of SCBs- Bank Group-wiseAn adequate liquidity position refers to a situation, where institution can obtain sufficientfunds, either by increasing liabilities or by converting its assets quickly at a reasonable cost. It is, therefore, generally assessed in terms of overall assets and liability management, asmismatching gives rise to liquidity risk. Efficient fund management refers to a situationwhere a spread between rate sensitive assets (RSA) and rate sensitive liabilities (RSL) ismaintained. The most commonly used tool to evaluate interest rate exposure is the Gap  between RSA and RSL,  while liquidity is gauged by liquid to total asset ratio.Initially solvent financial institutions may be driven toward closure by poor management of  short-term liquidity. Indicators should cover funding sources and capture large maturitymismatches. The term liquidity is used in various ways, all relating to availability of, accessto, or convertibility into cash. ? An institution is said to have liquidity if it can easily meet its needs for cash either  Ã‚  because it has cash on  hand or can otherwise raise or borrow cash. ? A market is said to be liquid if the instruments it trades can easily be bought or soldin quantity with little impact on market prices. ?An asset is said to be liquid if the  market for that asset is liquid. The common theme in all three contexts is cash. A corporation is liquid if it has ready accessto cash. A market is liquid if participants can easily convert positions into cash? or  conversely. An asset is liquid if it can easily be converted to cash. The liquidity of aninstitution depends on : y the institution's short-term need for cash; y cash on hand; y available lines of credit; y the liquidity of the  institution's assets; y The institution's reputation in the marketplace? how willing will counterparty is totransact trades with or lend to the  institution?The liquidity of a market is often measured as the size of its bid-ask spread, but this is animperfect metric at best. More generally, Kyle (1985) identifies three components of marketliquidity : ? Tightness is the bid-ask spread; ? Depth is the volume of transactions necessary to  move prices; ? Resiliency is the speed with which prices return to equilibrium following a largetrade. Examples of assets that tend to be liquid include foreign exchange; stocks traded in theStock Exchange or recently issued Treasury bonds. Assets that are often illiquid includelimited partnerships, thinly traded bonds or real estate.Cash maintained by the banks and balances with central bank, to total asset ratio (LQD) isan indicator of bank's liquidity. In general, banks with a larger volume of liquid assets are  perceived safe, since these assets would allow  banks to meet unexpected  withdrawals. Credit deposit ratio is a tool used to study the liquidity position of the bank. It is calculated  by dividing the cash held in different forms by total deposit. A high ratio shows that there ismore amounts of liquid cash with the bank to met its clients cash withdrawals. It refers to the risk that changes  in market conditions could adversely impact earnings and/or  capital.Market Risk encompasses exposures associated with changes in interest rates, foreignexchange rates, commodity prices, equity prices, etc. While all of these items are important,the primary risk in most banks is interest rate risk (IRR), which will be the focus of thismodule. The diversified nature of bank operations makes them vulnerable to various kindsof financial risks. Sensitivity analysis reflects institution ¶s exposure to interest rate risk,foreign exchange volatility and equity price risks (these risks are summed in market risk). Risk sensitivity is mostly evaluated in terms of management ¶s ability to monitor and controlmarket risk.Banks are increasingly involved in diversified operations, all of which are subject to marketrisk, particularly in the setting of interest rates and the carrying out of foreign exchangetransactions. In countries that allow banks to make trades in stock markets or commodityexchanges, there is also a  need to monitor indicators of equity and commodity price risk. Sensitivity to Market Risk is a recent addition to the ratings parameters and reflects thedegree to which changes in interest rates, exchange rates, commodity prices and equity  prices can affect earnings and  hence the bank ¶s capital. It  is measured by Beta (? . 1. ? ;1, depicts that changes in the firm are less than the changes in the market. LessSensitive2. ? =1, depicts that there is equivalent change in the firm with the changes i n themarket Equally Sensitive. 3. ? ;1, depicts that changes in the firm are more than the changes in the market. Highly Sensitive. The Bank The word bank means an organization where people and business can invest or borrowmoney; change it to foreign currency etc. According to Halsbury ? A Banker is an individual,Partnership or Corporation whose sole pre-dominant business is banking, that is the receiptof money on current or deposit ccount, and the payment of cheque drawn and the collectionof cheque paid in by a customer.  ¶Ã‚ ¶ The O rigin and Use of Banks The Word  µBank ¶ is derived from the Italian word  µBanko ¶ signifying a bench, which waserected in the market-place, where it was customary to exchange money. The Lombard Jewswere the first to practice this exchange business, the first bench having been established inItaly A. D. 808. Some authorities assert that the Lombard merchants commenced the  business of money-dealing, employing bills of exchange as remittance s, about the beginningof the thirteenth century.About the middle of the twelfth century it became evident, as the advantage of coinedmoney was gradually acknowledged, that there must be some controlling power, somecorporation which would undertake to keep the coins that were to bear the royal stamp up toa certain standard of value; as, independently of the  µsweating ¶ which invention may place tothe credit of the ingenuity of the Lombard merchants- all coins will, by wear or abrasion,  become thinner, and consequently less valuable; and it is of the last importance, not only for  the credit of a country, but for the easier regulation of commercial transactions, that themetallic currency be kept as nearly as possible up to the legal standard. Much unnecessarytrouble and annoyance has been caused formerly by negligence in this respect. The gradualmerging of the business of a goldsmith into a bank appears to have been the way in which  banking, as we now understand the term, was introduced into England; and it was not untillong after the establishment of banks in other countries-for state purposes, the regulation of  the coinage, etc. that any large or similar institution was introduced into England.It is onlywithin the last twenty years that printed cheques have  been in use in that establishment. Firstcommercial bank was Bank of Venice which was established in 1157  in Italy. Banking sector, the world over, is known for the adoption of multidimensional strategiesfrom time to time with varying degrees of success. Banks are very important for the smoothfunctioning of financial markets as they serve as repositories of vital financial informationand can potentially alleviate the problems created by information asymmetries. From acentral bank ¶s perspective, such high-quality disclosures help the early detection of  Ã‚  problems faced by banks in the market and reduce the severity of market disruptions.Consequently, the RBI as part and parcel of the financial sector deregulation, attempted toenhance the transparency of the annual reports of Indian banks by, among other things,introducing stricter income recognition and asset classification rules, enhancing the capitaladequacy norms, and by requiring a number of additional disclosures sought by investors tomake better cash flow and risk assessments. [Source : RBI Website] BAS EL – II ACC O R D Bank capital framework sponsored by the world's central banks designed to promoteuniformity, make regulatory capital more risk sensitive, and promote enhanced risk  management among large, internationally active banking organizations. The InternationalCapital Accord, as it is called, will be fully effective by January 2008 for banks active ininternational markets. Other banks can choose to â€Å"opt in,† or they can continue to follow theminimum capital guidelines in the original Basel Accord, finalized in 1988.The revisedaccord (Basel II) completely overhauls the 1988 Basel Accord and is based on threemutually supporting concepts, or  Ã¢â‚¬Å"pillars,† of capital adequacy. The first of these pillars is anexplicitly defined regulatory capital requirement, a minimum capital-to-asset ratio equal toat least 8% of risk-weighted assets. Second, bank supervisory agencies, such as theComptroller of the Currency, have authority to adjust capital levels for individual banksabove the 9% minimum when necessary. The third supporting pillar calls upon marketdiscipline to supplement reviews by banking agencies. Basel II is the second of the Basel Accords, which are recommendations on banking lawsand regulations issued by the Basel Committee on Banking Supervision.The purpose of  Basel II, which was initially published in June 2004, is to create an international standardthat banking regulators can use when creating regulations about how much capital banksneed to put aside to guard against the types of financial and operational risks banks face. Advocat es of Basel II believe that such an international standard can help protect theinternational financial system from the types of problems that might arise should a major  Ã‚  bank or a  series of banks collapse. In practice, Basel II attempts to accomplish this by settingup rigorous risk and capital management requirements designed to ensure that a bank holdscapital reserves appropriate to the risk the bank exposes itself to through its lending andinvestment practices. [Source : RBI Website] The final version aims at: 1.Ensuring that capital allocation is more risk sensitive;2. Separating operational risk from credit risk, and quantifying both;3. Attempting to align economic and regulatory capital more closely to reduce thescope for regulatory arbitrage. While the final accord has largely addressed the regulatory arbitrage issue, there are stillareas where regulatory capital requirements will diverge from the economic. Basel II has largely left unchanged the question of how to ac tually define bank capital,which diverges from accounting equity in important respects. The Basel I definition, asmodified up to the present, remains in place. The Accord in operation Basel II uses a â€Å"three pillars† concept y inimum capital requirements (addressing risk), y supervisory review and y market discipline  ± to promote greater stability in the financial system. The Basel I accord dealt with only parts of each of these pillars. For example : with respectto the first Basel II pillar, only one risk, credit risk, was dealt with in a simple manner whilemarket risk was an afterthought; operational risk was not  dealt with at all. The First Pillar The first pillar deals with maintenance of regulatory capital calculated for three major  components of risk that a bank faces : credit risk, operational risk and market risk. Other  risks are not considered fully quantifiable at this stage.The credit risk component can be calculated in three different ways of varyi ng degree of  sophistication, namely standardized approach, Foundation IRB and Advanced IRB. IRBstands for â€Å"Internal Rating-Based Approach†. For operational risk, there are three different approaches – basic indicator approach,standardized approach and advanced measurement approach. For market risk the preferredapproach is VaR (value at  risk). As the Basel II recommendations are phased in by the banking industry it will move fromstandardized requirements to more refined and specific requirements that have beendeveloped for each risk category by each individual bank. The upside for banks that dodevelop their own bespoke risk measurement systems is that they will be rewarded with  potentially lower risk capital requirements.In future there will be closer links between theconcepts of economic profit and regulatory capital. Credit Risk can be calculated by using one of three approaches : 1. Standardized Approach2. Foundation IRB (Internal Ratings Based) Approac h3. Advanced IRB ApproachThe standardized approach sets out specific risk weights for certain types of credit risk. Thestandard risk weight categories are used under Basel 1 and are 0% for short termgovernment bonds, 20% for exposures to OECD Banks, 50% for residential mortgages and 100% weighting on commercial loans. A new 150% rating comes in for borrowers with poor  credit ratings. The minimum capital requirement (the percentage of risk weighted assets to  be held as capital) has remains at  8%.For those Banks that decide to adopt the standardized ratings approach they will be forced torely on the ratings generated by external agencies. Certain Banks are developing the IRBapproach as a result. The Second Pillar The second pillar deals with the regulatory response to the first pillar, giving regulatorsmuch improved ‘tools' over those available to them under Basel I. It also provides aframework for dealing with all the other risks a bank may face, such as systemic risk,   pension risk, concentration risk, strategic risk, reputation risk, liquidity risk and legal risk,which the accord combines under the title of residual risk. It gives banks a power to reviewtheir risk management  system. The Third Pillar The third pillar greatly increases the disclosures that the bank must make.This is designedto allow the market to have a better picture of the overall risk position of the bank and toallow the counterparties of the bank to price and deal appropriately. The new Basel Accordhas its foundation on three mutually reinforcing pillars that allow banks and bank  supervisors to evaluate properly the various risks that banks face and realign regulatorycapital more closely with underlying risks. The first pillar is compatible with the credit risk,market risk and operational risk. The regulatory capital will be focused on these three risks. The second pillar gives the bank responsibility to exercise the best ways to manage the risk  specific to that ba nk. Concurrently, it also casts responsibility on the supervisors to reviewand validate banks ¶ risk measurement models.The third pillar on market discipline is usedto leverage the influence that other market players can bring. This is aimed at improving thetransparency in banks and  improves reporting. State Bank of India is the largest banking and financial services company in India, by almostevery parameter – revenues, profits, assets, market capitalization, etc. The bank traces itsancestry to British India, through the Imperial Bank of India, to the founding in 1806 of theBank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. TheGovernment of India nationalized the Imperial Bank of India in 1955, with the ReserveBank of India taking a 60% stake, and renamed it the State Bank of India.In 2008, theGovernment took over the  stake held by the Reserve Bank of India. SBI provides a range of banking products through its vast network of branches in India andoverseas, including products aimed at NRIs. The State Bank Group, with over 16,000  branches, has the largest banking branch network in India. With an asset base of $260 billionand $195 billion in deposits, it is a regional banking behemoth. It has a market share amongIndian commercial banks of about 20% in deposits and advances, and SBI accounts for  almost one-fifth of the nation's loans. The total assets of the Bank increased by 9. 23% fromRs. 9,64,432. 08 crores at the end of March 2009 to Rs. 10,53,413. 3 crores as at end March2010. The Bank ¶s aggregate liabilities (excluding capital and reserves) rose by 8. 93% fromRs. 9,06,484. 38 crores on 31st March 2009 to Rs. 9,87,464. 53 crores on 31st March 2010. K ey performance I ndicators [Source : Annual Report, 2009-10]SBI has tried to reduce over-staffing by computerizing operations and â€Å"golden handshake†schemes that led to a flight of its best and brightest managers. These managers took theretiremen t allowances and then went on to become senior managers in new private sector ICICI Bank (formerly Industrial Credit and Investment Corporation of India) is a major  Ã‚  banking and financial services organization in India.It is the 4th largest bank in India andthe largest private sector bank in India by market capitalization. The bank also has a network  of 1,700+ branches (as on 31 March 2010) and about 4,721 ATMs in India and presence in19 countries, as well as some 24 million customers (at the end of July 2007). ICICI Bank isalso the largest issuer of credit cards in India. ICICI Bank's shares are listed on the stock  exchanges at Kolkata and Vadodara, Mumbai and the National Stock Exchange of IndiaLimited; its ADRs trade on the New  York Stock Exchange (NYSE). [Source : Annual Report, 2009-10]The Bank is expanding in overseas markets and has the largest international balance sheetamong Indian banks.ICICI Bank now has wholly-owned subsidiaries, branches andrepresentative s offices in 19 countries, including an offshore unit in Mumbai. This includeswholly owned subsidiaries in Canada, Russia and the UK (the subsidiary through which theHi SAVE savings brand is operated), offshore banking units in Bahrain and Singapore, anadvisory branch in Dubai, branches in Belgium, Hong Kong and Sri Lanka, andrepresentative offices in Bangladesh, China, Malaysia, Indonesia, South Africa, Thailand,the United Arab Emirates and USA. Overseas, the Bank is targeting the NRI (Non- ResidentIndian) population in particular. History HDFC Bank was incorporated in the year of 1994 by Housing Development FinanceCorporation Limited (HDFC), India's premier housing finance company.It was among thefirst companies to receive an ‘in principle' approval from the Reserve Bank of India (RBI) toset up a bank in the private sector. The Bank commenced its operations as a ScheduledCommercial Bank in January 1995 with the help of RBI's liberalization policies. In a milestone transactio n in the Indian banking industry, Times Bank Limited (promoted byBennett, Coleman & Co. / Times Group) was merged with HDFC Bank Ltd. , in 2000. Thiswas the first merger of two private banks in India. As per the scheme of amalgamationapproved by the shareholders of both banks and the Reserve Bank of India, shareholders of  Times Bank received 1  share of HDFC Bank for every 5. 75  shares of Times Bank. In 2008 HDFC Bank acquired Centurion Bank of Pun j a b aking its total branches to morethan 1,000. The amalgamated bank emerged with a strong deposit base of around Rs. 1,22,000 crore and net advances of around Rs. 89,000 crore. The balance sheet size of thecombined entity is over Rs. 1,63,000 crore. The amalgamation added significant value toHDFC Bank in terms of increased branch network, geographic reach, and customer base,and a bigger pool of skilled manpower   Capital Adequacy [Source : Annual Report, 2009-10] The Industrial Development Bank of India Limited commonly known by its acronym IDBIis one of India's leading public sector banks and 4th largest Bank in overall ratings. RBIcategorized IDBI as an â€Å"other public sector bank†.It was established in 1964 by an Act of  Parliament to provide credit and other facilities for the development of the fledgling Indianindustry. It is currently 10th largest development bank in the world in terms of reach with1210 ATMs, 720 branches and 486 centers. Some of the institutions built by IDBI are the National Stock Exchange of India (NSE), the  National Securities Depository Services Ltd (NSDL), the Stock Holding Corporation of  India (SHCIL), the Credit Analysis ; Research Ltd, the Export-Import Bank of India (EximBank), the Small Industries Development bank of India(SIDBI), the EntrepreneurshipDevelopment Institute of India, and IDBI BANK, which today is owned by the IndianGovernment, though for a brief period it was a private scheduled bank.The IndustrialDevelopment Bank of India (IDBI) was est ablished on July 1, 1964 under an Act of  Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 16 February 1976,the ownership of IDBI was transferred to the Government of India and it was made the  principal financial institution for coordinating the activities of institutions engaged infinancing, promoting and developing industry in the country. Although Governmentshareholding in the Bank came down below 100% following IDBI ¶s public issue in July1995, the former continues to  be the major shareholder (current shareholding : 52. 3%). During the four decades of its existence, IDBI has been instrumental not only in establishinga well-developed, diversified and efficient ndustrial and institutional structure but alsoadding a qualitative dimension to the process of industrial development in the country. IDBIhas played a pioneering role in fulfilling its mission of promoting industrial growth throughfinancing of medium and long-term projects, in consonance wi th national plans and  priorities. Over the years, IDBI has enlarged its basket of products and services, coveringalmost the entire spectrum of industrial activities, including manufacturing and services. IDBI provides financial assistance, both in rupee and foreign currencies, for green-field  projects as also for expansion, modernization and diversification purposes.In the wake of  financial sector reforms unveiled by the government since 1992, IDBI evolved an array of  fund and fee-based services with a view to providing an integrated solution to meet theentire demand of financial and corporate advisory requirements of its clients Axis Bank, formally UTI Bank, is a financial services firm that had begun operations in1994, after the Government of India allowed new private banks to be established. The Bank  was promoted jointly by the Administrator of the Specified Undertaking of the Unit Trust of  India (UTI-I), Life Insurance Corporation of India (LIC), General Insura nce CorporationLtd. , National Insurance Company Ltd. The New India Assurance Company, The OrientalInsurance Corporation and United India Insurance Company UTI-I holds a special positionin the Indian capital markets and has promoted many leading financial institutions in thecountry. The bank changed its name to Axis Bank in April 2007 to avoid confusion withother unrelated entities with similar name. After the Retirement of Mr. P. J. Nayak, Shikha Sharma was named as the bank's managingdirector and CEO on 20 April 2009. As on the year ended March 31, 2009 the Bank had atotal income of Rs 13,745. 04 crore (US$ 2. 93 billion) and a net profit of Rs. 1,812. 93 crore(US$ 386. 15 million). On February 24, 2010, Axis Bank announced the launch of ‘AXISCALL ; PAY on atom', a unique mobile payments solution using Axis Bank debit cards.Axis Bank is the first bank in the country to provide a secure debit card-based paymentservice over IVR. Axis Bank is one of the Big Four Banks of India, along with ICICI Bank,State Bank of India and HDFC Bank Branch Network At the end of March 2009, the Bank  has a very wide network of more than 835 branch offices and Extension Counters. Totalnumber of ATMs went up to 3595. The Bank has loans now (as of June 2007) account for asmuch as 70 per cent of the bank ¶s total loan book of Rs 2,00,000 crore. In the case of AxisBank, retail loans have declined from 30 per cent of the total loan book of Rs 25,800 crorein June 2006 to around 23 per cent of loan book of Rs. 41,280 crore (as of June 2007).Evenover a longer period,  while the overall asset growth for  Axis Bank has been quite high and has matched that of the other banks, retail exposuresgrew at a slower pace. The bank, though, appears to have insulated such pressures. Interestmargins, while they have declined from the 3. 15 per cent seen in 2003-04, are still hoveringclose to the 3 per cent mark. Axis Bank, formally UTI Bank, is a financial services firm that had begun op erations in1994, after the Government of India allowed new private banks to be established. The Bank  was promoted jointly by the Administrator of the Specified Undertaking of the Unit Trust of  India (UTI-I), Life Insurance Corporation of India (LIC), General Insurance CorporationLtd. , National Insurance Company Ltd. The New India Assurance Company, The OrientalInsurance Corporation and United India Insurance Company UTI-I holds a special positionin the Indian capital markets and has promoted many leading financial institutions in thecountry. The bank changed its name to Axis Bank in April 2007 to avoid confusion withother unrelated entities with similar name. After the Retirement of Mr. P. J. Nayak, Shikha Sharma was named as the bank's managingdirector and CEO on 20 April 2009. As on the year ended March 31, 2009 the Bank had atotal income of Rs 13,745. 04 crore (US$ 2. 93 billion) and a net profit of Rs. 1,812. 93 crore(US$ 386. 15 million). On February 24, 2010, Axis Bank announced the launch of ‘AXISCALL & PAY on atom', a unique mobile payments solution using Axis Bank debit cards.Axis Bank is the first bank in the country to provide a secure debit card-based paymentservice over IVR. Axis Bank is one of the Big Four Banks of India, along with ICICI Bank,State Bank of India and HDFC Bank Branch Network At the end of March 2009, the Bank  has a very wide network of more than 835 branch offices and Extension Counters. Totalnumber of ATMs went up to 3595. The Bank has loans now (as of June 2007) account for asmuch as 70 per cent of the bank ¶s total loan book of Rs 2,00,000 crore. In the case of AxisBank, retail loans have declined from 30 per cent of the total loan book of Rs 25,800 crorein June 2006 to around 23 per cent of loan book of Rs. 41,280 crore (as of June 2007).Evenover a longer period,  while the overall asset growth for  Axis Bank has been quite high and has matched that of the other banks, retail exposuresgrew at a slower pa ce. The bank, though, appears to have insulated such pressures. Interestmargins, while they have declined from the 3. 15 per cent seen in 2003-04, are still hoveringclose to the 3 per cent mark. Reserve Bank of India prescribes Banks to maintain a minimum Capital to risk weightedAssets Ratio (CRAR) of 9 percent with regard to credit risk, market risk and operational risk  on an ongoing basis, as against 8 percent prescribed in Basel Documents. Capital adequacyratio of the ICICI Bank was well above the industry average of 13. 97% t. CAR of HDFC  bank is below the ratio of ICICI bank.HDFC Bank ¶s total Capital Adequacy stood at15. 26% as of March 31, 2010. The Bank adopted the Basel 2 framework as of March 31,2009 and the CAR computed as per Basel 2 guidelines stands higher against the regulatoryminimum of 9. 0%. HDFC CAR is gradually increased over the last 5 year and the capital adequacy ratio of  Axis bank is the increasing by every 2 year. SBI has maintained its CAR around in the rangeof 11 % to 14 %. But IDBI should reconsider their business as its CAR is falling YOY (year  on year). Higher the ratio the banks are in a comfortable position to absorb losses. So ICICIand HDFC are the strong one to absorb their loses. Gross N PA:Gross NPAs are the sum total of all loan assets that are classified as NPAs as per RBIguidelines as on Balance Sheet date. Gross NPA reflects the quality of the loans made by  banks. It consists of all the non standard  assets like as substandard, doubtful, and loss assets. It can be calculated  with the help of following ratio : SBI maintained its GNPA to 3% which is very good sign of performances as SBI is thelargest lender in INDIA. HDFC ¶s GNPA is quite good as it is low with compared to ICICIand SBI but in 2008-09 GNPA rises. The reason may be economic crises. AXIS bank haslowest GNPA which shown its management ability. ICICI has the highest GNPA in bankingindustry and rising YOY (year on  year). N et N PA:Net NPAs are those type of NPAs in which the bank has deducted the provision regarding  NPAs. Net NPA shows the actual burden of banks. Since in India, bank balance sheetscontain a huge amount of NPAs and the process of recovery and write off of loans is verytime consuming, the provisions the banks have to make against the NPAs according to thecentral bank guidelines, are quite significant. That is why the difference between gross andnet NPA is quite high. It can be calculated by following : AXIS Bank has least Net NPA and ICICI has highest NNPA among group. HDFC shown itsmanagement quality as it maintained its NNPA YOY (year on year). SBI has to keep NNPA  below. IDBI has successful to control NNPA YOY.

The Pros and Cons of Protest in American History Essay

Assembly can lead to change or it can lead to horrible circumstances, sometimes planned or sometimes accidental. Over the years people have used and abused their right to assemble, many have died, even more have been arrested. But, many issues have changed because of this right. Violence has been endured, and people’s lives have been changed. The Vietnam War is a perfect example of a group of protests that had many different outcomes. The Kent State shootings and the Democratic Convention of 1968 are examples of protests that went terribly wrong. Sit-ins and singing protest songs against violence are examples of peaceful protest. The Democratic Convention of 1968 took place in Chicago, Illinois. This convention is known as the people’s†¦show more content†¦Hundreds of protesters were beaten and the crowd was tear- gassed. After the riot seven men were held responsible for the riots and imprisoned for their action and for not caring out peaceful assembly. (Whitney) Kent State University has four markers in a parking lot that was on top of a hill on campus in 1970. Those four markers are there to represent the four lives that were lost on May 4, 1970. The protests at Kent State began Friday, May 1st the day after President Nixon announced the invasion of Cambodia. Protests were held on the commons where many rallies and demonstrations were held in the past. The second rally was scheduled for Monday, May 4th. But, Friday evening unveiled some harsh feelings between students and the local police. The mayor of Kent declared a state of emergency. The next morning the Ohio National Guard was called in because of threats that were made to local businesses and threats to destroy the town and Kent State. When the National Guard arrived to Kent, protesters had already burned the ROTC building to the ground. The Governor flew into Kent on Sunday and issued a statement that if protesters did not comply he would seek a court order declaring a state of emerg ency. The order was not actually ever issued but Kent State was under the assumption that a state of Martial Law was in effect and all rallies were banned. The rally was held anyway at noon on Monday, May 4th. Over 3,000 protesters attended and theShow MoreRelatedAmerica s Declaration Of Independence1356 Words   |  6 Pageswere so brilliantly written into the nation’s Declaration of Independence claimed that everyone was entitled to â€Å"certain unalienable rights† and these rights included â€Å"the right to life, liberty and the pursuit of happiness.† (Jefferson). Today the American government has the job of living up to the standards it set in the declaration, but also the organization of how government carries out dealings within the country guided by the Constitution. 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The Civil War remains one of the most memorable potholes on the road to current day America. From 1861 to 1865, one of the bloodiest battles in history occurred on American soil. During this time, the country split. The southern states became the Confederacy and the states in the north became the Union. Slavery (the enslavement of African- Americans) loomed over the country, causing conflict. After the Civil War, many memorials were erected that immortalized generals on the losing side, the ConfederacyRead MoreEssay on The Use of Animal Research 1431 Words   |  6 Pageshave not been approved for humans, yet so many animals died or suffer from many different experiments done to them (History). The human population should not be the one to rely on anima ls for our health concerns. I say, as human we should rely on humans and on our own aspects. These animals that we use to do research and test on for medical purposes have been changing throughout history since the BC era. Gandhi once said â€Å"The greatness of a nation and its moral progress can be judge by the way its animalsRead MoreCivil Disobedience: Cost of Change1469 Words   |  6 Pages(Civil Disobedience). Throughout history, civil disobedience was a way to get the people’s attention that the government’s idea is immoral and unfair. It is a way to make a change in law or policy and to take action in a non-violent resistance. The act of civil disobedience is effective in our society, for example, Mohandas Gandhi protest against the British rule for India’s independence, Martin Luther King, Jr.’s civil rights action, and the Sierra Club protest to neglect the Keystone XL pipelineRead MoreIssue On Concealed Carry From The United States1684 Words   |  7 PagesUnited States. Whether citizens should be allowed to legally carry a gun has been a growing debate. In this paper, I will talk about the history of concealed carry, the different types of issuances among the states, and how to obtain your concealed carry license in Wisconsin along with providing concrete evidence with different statistics and stating the pros and cons of the issue. In the old Western days, individuals, mainly men, would carry their firearm with them all the time. They would use their

Theme Of Character Development In Song Of Solomon

Song of Solomon’s protagonist Milkman plays a crucial role in the novel’s major focal point of character development. The novel can be appropriately labeled a Bildungsroman due to its clear and continuous creation of Milkman’s characteristics. Throughout the text readers can see changes made within the character, such as his reactions to situations and the language he uses when he is talking and thinking. Milkman commences the novel as a confused, spoiled young man who feels he deserves the world. However, at a certain point in the novel, it is clear that he reaches an epiphany, a change in heart, that matures him. The pivotal point in Milkman’s moral and psychological development is when he is alone hunting in the mountains. In this†¦show more content†¦This moment of clarity matures the protagonist of the novel. A major aspect of the plot is a hunt for gold; Milkman travels hundreds of miles to find a bag of gold left behind by his aunt P ilate or father. However, it can be inferred through the text that Milkman’s hunt for gold symbolizes his search for his family history. He is intrigued by his family’s past and wants to understand who he came from. This quest, however, brings Milkman not only knowledge of his ancestors, but maturity. The â€Å"gold† Milkman finds is in fact clarity. The monologue in this scene depicts his accumulative awareness of his actions and who he is as a person. He realizes that â€Å"...he thought he deserved only to be loved- from a distance, though- and given what he wanted† (Morrison 277). This comprehension of his selfish, merciless manner is truly the â€Å"gold† he was looking for. This hunting scene is not only significant for Milkman’s newly-found perception of himself and his actions, but it gives the protagonist a feeling of humbleness and independence. Throughout the novel, Milkman has always been extremely dependent; when he is not relying on his social status, Milkman utilizes his wealth and luxury to support his fragile personality. The Deads are a very affluent and successfulShow MoreRelatedThe Development Of Memory And Truth. After Doing Research1194 Words   |  5 PagesThe Development of Memory and Truth After doing research on Post Traumatic Stress disorder, there seemed to spark a striking argument of truth in memory based on how it is retrieved and convoluted with people’s previous perceptions. Truth and fact can be altered based on one’s viewpoint of a subject and preceding experiences. Authors can portray common themes in novels using drastically different methods such as character development, stylistic structures, and literary devices. 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Liberal Absolutism Vs Liberal Liberalism Essay - 1805 Words

The objective of this paper is to firstly, compare and contrast the Hobbesian notion of liberal absolutism with Lockean liberal constitutionalism and secondly, elucidate how these similarities and differences impact the American presidency. I will begin by explicating liberal absolutism and liberal constitutionalism and then proceed to articulate their points of similarity and difference. Next, I claim that these two liberalisms can blur the lines in understanding the role of the executive. Let me explain this. I argue that at times, it can be unclear whether the president is exercising a form of absolutism (even though his or her intention may be to act in a way to preserve the constitution) or constitutionalism. From this argument I aim to demonstrate that the president is an elected monarch and we have construed an image of the executive that has lead us to believe otherwise. I will then provide a possible objection to this assertion. Hobbesian Liberal Absolutism Thomas Hobbes defended the idea of an absolutist government in his piece Leviathan. In order to understand his notion of an absolutist government, I must first articulate his understanding of the state of nature. The state of nature can be understood as the condition in which people lived prior to establishing a government or society (Leviathan, 150-1). For Hobbes the state of nature is a condition where everyone is equal and posses a â€Å"natural right† to act as they please (Leviathan, 151). Hobbes articulatesShow MoreRelatedThe Four Perspectives Of International Political Economy2519 Words   |  11 Pagesthe American University in London Outline I. Introduction A. What is IPE? B. The role of IPE theory C. Benefits of IPE II. Methodology A. Research methods B. Research design C. Research strategy D. Time Horizon III. Theories of IPE A. Liberalism B. Mercantilism C. Structuralism and Nationalism D. Realism IV. Globalisation, financial crisis and state market societal relations and their impact on the political economy A. In WWII B. Cold War C. Communist and Socialist societies D.Read MoreLaw and Justice4680 Words   |  19 Pagesif they produce greatest possible benefit for the well off in a given scheme of inequality (â€Å"the difference principle†) iii) â€Å"fair equality of opportunity † and the elimination of all inequalities of opportunity based on birth or wealth[10] Rawls vs. Utilitarianism The basic principles and theories of both Rawls and utilitarian have been discussed. Thus there exists must difference between the principle of two. Rawls theory differs from utilitarian in three significant ways: Firstly, utilitarianRead MoreInternational Management67196 Words   |  269 Pages Training in International Management The Impact of Overall Management Philosophy on Training The Impact of Different Learning Styles on Training and Development Reasons for Training 520 522 523 524 Types of Training Programs Standardized vs. Tailor-Made Cultural Assimilators Positive Organizational Behavior 526 526 529 530 xxvi Table of Contents Future Trends The World of International Management—Revisited Summary of Key Points Key Terms Review and Discussion Questions Internet

Atomic Bomb 5 Essay Example For Students

Atomic Bomb 5 Essay On the morning of August 6, 1945, the first Atomic Bomb in history was dropped on the Japanese city of Hiroshima. Three days later, a second bomb was dropped on Nagasaki. Soon after, on August 14, 1945, the Japanese abruptly surrendered, abandoning their ancient customs regarding honor in war. The fact that only two bombs were able to bring an entire country to its knees is a true testament to the awesome power they held. There is nothing in modern warfare that can compete with the devastating effects of nuclear weapons. At the beginning of World War II, the Japanese were a major threat to the Asian World. On December 7, 1941, when they decided to attack Pearl Harbor (a US naval base in Hawaii), it was evident that their intentions were not limited to Asia. The United States entered World War II as a result of this attack. The war continued for six long years, and involved most of the major World Powers. During this time, there were many battles between the United States and Japan, including one of the bloodiest battles of World War II, which took place at Okinawa. If allowed to expand, Japan posed a serious threat to the allies. During the war, one of the most brilliant scientists in history, Albert Einstein, hypothesized that if the true power of the atom were released in a weapon, the results would be devastating. This was soon confirmed by a large portion of the scientific community. Whoever possessed such a weapon would be in complete power. Many government officials felt that such a weapon could put an end to the war. For this reason, in 1942, the United States decided to pursue the atomic bomb. Later that year, Franklin D. Roosevelt began the Manhattan Project. The Manhattan Project was a massive engineering enterprise aimed at the ultimate goal of creating an atomic bomb. At one time it employed over 129,000 workers. The United States was the only nation in the world with the capacity to work on such a high level. Though it cost approximately $2 billion dollars, many officials who knew about the Top Secret project felt it was well worth it- if the Atomic Bomb proved useful. Another major expense of the United States government was the development of the B-29, a bomber plane specifically designed for dropping Atomic Bombs. The estimated cost of this project is $3 billion dollars, bringing the total cost of the new atomic weapon to $5 billion dollars (approx. $50 billion 1998 dollars). If the Atomic Bomb failed, not only would many people lose their jobs, but the outcome of the war might have changed. For this reason, the Manhattan Project employed many of the top scientific minds of the world. Unbeknownst to the Allies, the Germans decided not to pursue an atomic weapon. They felt it was more important to spend the money on troops and machinery, and thought that they would have won the war before they were able to obtain an atomic weapon. They were also unaware of the top-secret Manhattan Project. The Japanese conducted small research on the possibility of building a bomb, but never fully pursued it. If the Germans had decided to build a bomb, and obtained it before the United States, they most certainly would have used it against the Allies. This is why it was so crucial for the U.S. to complete the Manhattan Project as quickly as possible. A German victory would have resulted in a history that is completely different from that which took place. If the Axis Powers had developed the Atomic Bomb, they would have been unstoppable. A nuclear weapon harnesses the power of the atom with a process known as an Uncontrollable Fission Reaction. In this process, a neutron (a subatomic particle found in the nucleus of atoms) is bombarded with the nucleus of a radioactive atom, such as Uranium or Plutonium. This causes the nucleus of the radioactive atom to become unstable, and split into two new atoms. To stabilize the new atoms, more neutrons are released, which move on to bombard with another radioactive nucleus. .u43b901e66b9a0970b471190587679c40 , .u43b901e66b9a0970b471190587679c40 .postImageUrl , .u43b901e66b9a0970b471190587679c40 .centered-text-area { min-height: 80px; position: relative; } .u43b901e66b9a0970b471190587679c40 , .u43b901e66b9a0970b471190587679c40:hover , .u43b901e66b9a0970b471190587679c40:visited , .u43b901e66b9a0970b471190587679c40:active { border:0!important; } .u43b901e66b9a0970b471190587679c40 .clearfix:after { content: ""; display: table; clear: both; } .u43b901e66b9a0970b471190587679c40 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u43b901e66b9a0970b471190587679c40:active , .u43b901e66b9a0970b471190587679c40:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u43b901e66b9a0970b471190587679c40 .centered-text-area { width: 100%; position: relative ; } .u43b901e66b9a0970b471190587679c40 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u43b901e66b9a0970b471190587679c40 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u43b901e66b9a0970b471190587679c40 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u43b901e66b9a0970b471190587679c40:hover .ctaButton { background-color: #34495E!important; } .u43b901e66b9a0970b471190587679c40 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u43b901e66b9a0970b471190587679c40 .u43b901e66b9a0970b471190587679c40-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u43b901e66b9a0970b471190587679c40:after { content: ""; display: block; clear: both; } READ: What Is Art? Essay The energy released comes from the binding energy (the energy required to keep the nucleus together) .

Mcdonaldization Essays (1600 words) - McDonalds, Fast Food

Mcdonaldization The way that Wendy's Old Fashioned Hamburgers does business and markets it's product to consumers is due to the change in our society to where the consumer wants the biggest, fastest, and best product they can get for their money. This change in society can be attributed to a process known as McDonaldization. Although McDonaldization can be applied to many other parts of our society, this paper will focus on its impact on Wendy's Old Fashioned Hamburgers. My belief is that the process of McDonaldization, where the ideology of McDonald's has come to dominate the world, has caused Wendy's Old Fashioned Hamburgers to emulate McDonald's style of running a franchised restaurant chain in terms of efficiency, calculability, and control. However, since McDonald's has become the epitome of fast-food in our society, Wendy's Old Fashioned Hamburgers has had to change their focus to giving the consumer a higher quality product in a relatively fast amount of time. So, Wendy's still caters to a Mc Donaldized society in terms of giving them a meal as fast as possible but making quality their number one priority to give people a viable option from McDonald's. In addition, I have used my girlfriend who manages at Wendy's and observations I gathered while at McDonald's as further information for this paper. First, before I discuss the impact of McDonaldization on Wendy's Old Fashioned Hamburgers, I will define what McDonaldization is. McDonaldization is the process by which the principles of fast-food restaurants are coming to dominate more and more sectors of American society, as well as, of the rest of the world. (Ritzer 1998,Page 1) George Ritzer created this concept of McDonaldization as a continuation of Max Weber's theories on bureaucracies. Max Weber defines a bureaucracy as a large hierarchical organization that is governed by formal rules and regulations and has a clear specification of work tasks. Its three main characteristics are that it has a division of labour, hierarchy of authority, and an impartial and impersonal application of rules and policies. (Newman 1997, Page 271) Thus, from that definition of a bureaucracy, one would conclude that both McDonald's and Wendy's Old Fashioned Hamburgers are bureaucracies. The fact that both restaurants are bureaucracies is supported by the fact that each assigns workers to a specific job where each worker individually contributes to the overall success of the restaurant by doing his or her job. For example, workers at each restaurant could be assigned to working the grill, making fries, working the front register, or taking orders at the drive-thru window. Both restaurants have a hierarchy of authority from worker, crew chief, shift manager, salary manager to owner of the store. Also, each restaurant enforces an impartial and impersonal application of rules and policies. Both McDonald's and Wendy's have standard, impersonal greetings at the register and at the drive-thru window. The exception when this impersonal attitude towards the customer is changed is when a worker knows the customer outside the restaurant. In this case, the worker will probably ask their acquaintance how they are doing or what they are up to. The worker might even throw in an extra cheeseburger that a regular customer might not get. Despite this exception where standardization is broken, both these restaurants have become bureaucracies because they are the most efficient means of managing large groups of people. That leaves one to wonder why the process of McDonaldization has been so successful for both companies. The first reason is that it offers efficiency where consumers know that it means the quickest way to get from one point to another. In the case of McDonald's, it offers the best available way to get from being hungry to being full. This is so important in today's society because so many people are in a rush to get from one place to another. Therefore, the quick, efficient setup of McDonald's allows consumers to eat a fast-food meal without having to leave their car. On the other hand, Wendy's strives for as efficient service as possible without effecting the quality of their product. This is because McDonald's already has imprinted on people's minds throughout the many years of its existence that they will get the same burger each visit