Explain the Main difference between Act and Rule Utilitarianism (it can also be used to explain the main difference between Bentham and Mill)

Explain the Main difference between Act and Rule Utilitarianism (it can also be used to explain the main difference between Bentham and Mill) Explain the main differences between Act and Rule UtilitarianismUtilitarianism is a theory, which first became widely acknowledge when it was adopted by its greatest advocate Jeremy Bentham. It is a theory that maintains that it is an action's total consequence that determines its moral correctness. It is a theory not concerned with the effects of the action on the individual carrying out the action, but instead the effect it has on everybody affected by the action. It also maintains that it is happiness that is key to life's conquest, and hence happiness that is the determination of right or wrong. Very simply if an actions consequence cause happiness, then the action is right, if it causes pain, or destroys happiness then the action is wrong. The main philosophy of the theory of Utilitarianism is to create the greatest happiness for the greatest number.Jeremy Bentham, and his disciple John Stuart Mill have become recognised as the two greatest sponsors of Utilitarianism.From http:/ /hypernews.ngdc.noaa.govBentham is known for his popularisation of the more traditional version of the theory, know as Act Utilitarianism. Although a student of Bentham, Mill could see problems in what he was being taught and so began to develop his own views on Utilitarianism, which are now known as Rule Utilitarianism.Bentham was a great traditionalist believer in the expression, "the greatest good for the greatest number." Bentham called this principle the principle of utility. With "utility" here referring to the tendency of an action to produce happiness, not its usefulness. It is the aim of Act Utilitarianism to fulfil to the greatest extent the principle of utility.Act Utilitarianism focuses solely on the consequences of the action. The motives and the reasons why actions are carried out are trivial in determining the moral rightness of the action;...

Arab Americans Populations by State

Arab Americans Populations by State As a bloc, the 3.5 million Arab Americans in the United States are becoming an important economic and electoral minority. The largest concentrations of Arab Americans are in some of the most contested electoral battlegrounds of the 1990s and the 2000s - Michigan, Florida, Ohio, Pennsylvania and Virginia. In the early 1990s Arab Americans tended to register Republican more than Democratic. That changed after 2001. So have their voting patterns. The largest block of Arab Americans in most states is of Lebanese descent. They account for a quarter to a third of the total Arab population in most states. New Jersey is an exception. There, Egyptians account for 34% of the Arab American population, Lebanese account for 18%. In Ohio, Massachusetts, and Pennsylvania, Lebanese account for 40% to 58% of the Arab American population. All these figures are based on estimates by ​Zogby International, conducted for the Arab American Institute. A note about the population estimates in the table below: ​Youll notice quite a disparity between the 2000 Census Bureau figures and those of Zogby in 2008. Zogby explains the difference: The decennial Census identifies only a portion of the Arab population through a question on ancestry on the census long form. Reasons for the undercount include the placement of and limits of the ancestry question (as distinct from race and ethnicity); the effect of the sample methodology on small, unevenly distributed ethnic groups; high levels of out-marriage among the third and fourth generations; and distrust/misunderstanding of government surveys among more recent immigrants. Arab American Populations, 11 Largest States Rank State 1980Census 2000Census 2008Zogby Estimate 1 California 100,972 220,372 715,000 2 Michigan 69,610 151,493 490,000 3 New York 73,065 125,442 405,000 4 Florida 30,190 79,212 255,000 5 New Jersey 30,698 73,985 240,000 6 Illinois 33,500 68,982 220,000 7 Texas 30,273 65,876 210,000 8 Ohio 35,318 58,261 185,000 9 Massachusetts 36,733 55,318 175,000 10 Pennsylvania 34,863 50,260 160,000 11 Virginia 13,665 46,151 135,000 Source: Arab American Institute

Strategic plans for American car manufacturer Chrysler Essay

Strategic plans for American car manufacturer Chrysler - Essay Example However, in 1970s, oil crisis led to a high demand in oil efficient vehicles. In the year 2009, the third largest automobile manufacturer filed for bankruptcy. This essay is based on a case study analysis of the management aspects of Chrysler and develops recommendations that can improve the profitability of the automobile manufacturer. The company hired a new leadership in 1978. The new management team initiated cost-cutting measures which includes shutting down some plants, temporary layoffs, scaling down nonproductive plants and stopping a number of employee benefits. The company appealed for a federal loan as the debt escalated. The loan revamped the company has the product line of the company begun to expand again. The company embarked to manufacturing fuel efficient cars and passenger vehicles. The company entered into a strategic alliance with Samsung in 1987 and increased its shareholding in Mitsubishi motors’ corporation (Zaccaro & Klimoski 2001). The company was struggling to stay afloat even after receiving financial aid from a federal loan of $ 4 billion in 2009. The federal government insisted that the company had to merge with Fiat in order the get additional funding of $ 2 billion. This additional funding request was one of the strategies to ensure that the long-term viability of the company is ensured (Hampton 2009). The management was requested to cut the costs through negotiating with both united auto workers and Canadian auto workers. The failure of the debtors of agrees on debt restructuring caused the company to file for bankruptcy. The company is seen as suffering from poor business management. Besides, the Japanese cars were smaller, oil-efficient and had competitive prices. The Japanese cars had a better performance. This led to a decline in the sales of the Chrysler products. The company has a history of failing to respond decisively to the prevailing challenges. This has caused the other competitors to take

UCR and NCIC Essay Example | Topics and Well Written Essays - 500 words

UCR and NCIC - Essay Example The NCIC started out its operation by helping law enforcement in the apprehension of fugitives and helping to locate property that was stolen (â€Å"Public Safety†). Since the NCIC database consists of information about humans and property, the database includes 18 files, which contain this information. Records for articles and other properties such as vehicles, guns, boats, among others, are found in seven files, while the remaining 11 files consist of person records, including fugitives, sexual offenders, gang members, wanted persons, terrorist groups, among others. To back up the files, this database also includes images to assist law enforcement agencies in the identification of people and property (â€Å"Public Safety†). The NCIC can be used in a variety of ways. For instance, during a traffic stop, a law enforcement officer can instantly check the NCIC records to verify if a particular vehicle in the traffic stop was stolen, or if it is being driven by a criminal. The NCIC therefore, serves an important purpose of availing an electronic database, which can be accessed by various criminal justice agencies for inquiries, and information on crime and criminals from other agencies. The information in the NCIC therefore, helps law enforcement and authorized agencies to locate missing persons and stolen property, identify criminals, and protect the law enforcement personnel (â€Å"Public Safety†). The Uniform Crime Report (UCR) was established in the United States out of the need for tracking changes in the rate of crime at the state and national level. This program mainly collects data about crime instances reported by various law enforcement agencies in different states. The Federal Bureau of Investigation (FBI) is responsible for the collection and publishing of this crime data annually. These publications however, vary depending on the state, type of crime, and nature of criminals. The most popular and biggest annual

Jain Architecture Essay Example for Free

Jain Architecture Essay Summary Jainism is a religion, based on ‘non violence’ and ‘self control of the human senses’. It has its origins in India. Jains are idol worshippers, and a temple is a place where this worship is carried out. Jain places of worship in India are unique in many respects. Temple cities are built atop hills at a considerable height from the sea level. Palitana, Delvada and Sametshikhar are classic examples of cluster of temples built on the top of hills. These were built during the times when the only technology available was hand work. Ranakpur and Shramanbelgoda are other classic examples of architectural masterpieces emerging out of devotion to idol worship. A photographic exhibition on these five sites is proposed. It will try to explain the uniqueness of temples at each of the sites. It would be an effort to demonstrate to the world, the marvelous results faith can bring. Attention would also be paid to the extensive use of marble as a material of faith ( the idols) construction ( the structures) and decoration ( the pillars and the domes) of Jain temples. The team will visit each of the sites and shoot the required still pictures. Specialists on each of sites will be personally interviewed to understand the architecture of each site as a form of art. So far, much work is not done on documentation of Jain architecture. Nor is there any authentic analysis available to see them as a form of art. For examples the basic geometric principles of Jain temples are hardly documented. The final form of the exhibition will be a series of still photographs, sketches or drawings or maps supplemented by text. This will make a comprehensive presentation of Jain temples as a form of art. Scope: The scope of this exhibition is to communicate the uniqueness of Jain architecture, mainly the five most popular sites in India, namely, Sametshikhar, Palitana, Delvada, Ranakpur and Shramanbelgoda. The medium used is still photography, supported by drawings, sketches and written text. All the photographs will be shot on 35 mm format. All the information will be displayed on panel size 4 ft X 3 ft. Each site will be allotted 10 panels, making it 50 panels in total. Each temple site will be documented as an independent module, to facilitate erection at any place in future. Leaving proper space between two modules will ensure a smooth human flow, while the exhibition is on. The exhibition is not to be viewed from a religious or a philosophical point of views, but as a form of art. It will expose the onlooker to how Jains incorporated the element of art into their ‘places of worship’. All the five sites chosen for this exhibition are in India. Sametshikhar, in the state of Bihar, can be compared to Mecca of Jains. This is the place where most of the 24 ‘tirthankars’ of Jains, attained their ‘nirvan- freedom from the cycle of rebirth’. Temples are built on the top of an array of hills as a mark of respect to each of them. Palitana, in the state of Gujarat, is a city of temples on the top of a hill, where the first ‘ tirthankar’, prayed. Delvada, at Mt. Abu in Rajasthan is well known for its intricate hand carving of large marble columns and the domes. Ranakpur, at the foot of Aravalli hills in Rajasthan, is again a rare piece of architectural marvel. It is a four sided temple, with 1,444 hand carved marble columns, in its interior. No art symbols on any of the columns are duplicated. The ceilings and the domes are also carved with symbols representing Jain beliefs. Shramanbelgoda, in the state of Karnataka in South India, is not a closed temple, but a single, huge idol of Bahubali. This idol is believed to be carved out of single piece marble. Temple complex at Palitana ( clipart ) ( ref. No. 1 ) Close up view of column carving at Delavada Dome carving at Delavada ( clipart ) ( clipart) ( ref.No. 2) ( Ref. No. 3 ). Temple complex- Delwada ( clipart) ( Ref. No. 4) Temple complex – Ranakpur ( Clipart) ( Ref. No. 5) Few of the 1444 pillars at Ranakpur ( Clipart)(ref6) Dome carving at Ranakpur(Clipart) ( Ref 7) Pillar carvings – Ranakpur ( Clipart ) ( re no. 8) Idol of Bahubali, Sramanbelgoda ( Clipart )(ref 7) A team consisting of experts in still photography, freehand sketching, documentation will be visiting these sites personally in India. They will also interview and talk to people who are experts on each of the sites. The same team on return, will edit the visual and the text material and prepare the final panels. This team will also be present at the site wherever this exhibition is held, to personally brief the visitors on the subject. This exhibition must happen, because of the uniqueness of its subject. Perhaps there is no such collective documentation existing, as yet. It would surely enlighten the onlooker. Works-cited page 1. Clipart , Clip Arts from Jain temples/Pilgrimage places, Retrieved on 1 May 07 from: http://www. jainworld. org/pictures/temples .

Comparing the Salem Witch Trials, European Witchcraft Craze and the McC

Comparing the Salem Witch Trials, European Witchcraft Craze and the McCarthy Hearings The evidence of witchcraft and related works has been around for many centuries. Gradually, though, a mixture a religious, economical, and political reasons instigated different periods of fear and uncertainty among society. Witchcraft was thought of as a connection to the devil that made the victim do evil and strange deeds. (Sutter par. 1) In the sixteenth, seventeenth, and twentieth century, the hysteria over certain causes resulted in prosecution in the Salem Witch Trials, European Witchcraft Craze, and the McCarthy hearings. These three events all used uncertain and unjustly accusations to attack the accused. The Salem witch trials in Massachusetts Colony lasted from 1692 to early 1693. Even before the witchcraft trials, Salem Village was not exactly known as a bastion of tranquillity in New England. (Sutter par.2) There was a population of over six hundred that was divided into two main parts; those that wanted to separate from Salem Town and those that did not. They divided themselves into the eastern and western parts of the town. With this tension and an unfortunate combination of economic conditions, congregational strife, teenage boredom, and personal jealousies, (Oliver par. 2) Salem became unstable. When Elizabeth Parris and Abigail Williams, Reverend Samuel Parris's daughter and niece, started to exhibit strange behavior including convulsive seizures, screaming, and trances, (Oliver par. 2) and the doctor declared that the girls were under the influence of the devil, the townspeople believed him. This could be because there was an Indian War ranging less than seventy miles away, and with many refugees from the war were in tha... ...uring the McCarthy hearings, people were prosecuted for being communists even without valid proof just as in the two witchcraft crazes, people were prosecuted for being witches without valid proof. All three were caused mainly of fear of the so-called evil. During a time of crisis, people turn to extreme solutions. The witchcraft hysteria of the sixteenth and seventeenth centuries and the McCarthy hearings are only three examples of how people can try to prosecute those they fear by assumption and without valid proof. The witchcraft hysteria should warn us to think about how best to safeguard and improve our system of justice to avoid unjustly trials that lead to unfair prosecution. These trials come to show as a reminder of how politics, family conflicts, religion, economics, and the imagination and fears of people (Sutter par.1) can yield tragic consequences.

Electronic Health Record (EHR) System Potential Threats and Measures Taken to Protect It

Since the early 1980s, information technology have improved and revolutionized every aspect of our lives. We use information technology to do our daily chores like shopping and reading the latest global news at the comfort of our living room. It replaces old challenges with new possibilities. However, one of the areas that had evolved to this new demand in information technology but rather in a slow phase is the healthcare industry. Today’s healthcare includes hospitals and private clinics. A lack of an effective management of data about a disease and the treatment for saving lives can be put at risk. In previous years medical information was stored only on paper and in one location, usually a patient's primary care physician's office or medical institute. People tend to migrate to a different area or country, thus making it difficult to transfer piles of paperwork and medical records to every point of medical institution which a patient is seeking treatment. It is even more complex when most patients visit more than a single physician or an institution and the process of being treated by a different number of nurses, consulting specialists, diagnostic technicians and administrative staff. Paper-based medical record systems are also adding the unnecessary expense to a medical institution. Registration clerks, nurses spend precious time away from patients attending to huge piles of paperwork. This adds up an enormous financial burden inclusive for the storage of the medical records and wages for the administrative support staff. Miss-kept or missing medical records adds to the lost of precious time and can lead to unnecessary or duplicating of clinical tests. However, until recently, usage of information technology has increased and become prominent part of the healthcare industry. Many large hospitals and private hospitals have made the transition from old-school paper medical records to EHR, Electronic Health Record System. Early stages of an EHR System were base on a simple side but have advance tremendously. Now EHR System is Web-based which are accessible across networks and utilizing GUI, Graphics User Interface for interactivity. Web-based EHR are easy to use, have the capabilities to organize and link information, strong multimedia presentation capabilities, works on most hardware platform and operating system in the market; which communicate through the Internet and provide access to medical records using web browsers and web technologies. Jamie R. Steck(1998), Director of IT from the Central Utah Clinic stated that â€Å"Efficiency has increased dramatically. We did an in-motion study in our records room, which showed that filing electronically is 80 percent more efficient than filing manually, and we’ve seen proof of that on a daily basis. Study shows that EHR is more efficient than the normal process of filing the paper-medical records. Health institution of many sizes faces many demands and challenges when making the transition from paper records to EHR. Healthcare institutions are working hard to reduce their reliance on handwritten records. EHR has improved patient care through greater and qui cker access to patient information thus reducing medical errors due to paper-records. It also significantly reduces test result and patient wait-times with a faster and more efficient workflow. It also reduces record-keeping time thus decreasing paperwork for administrative staff. EHR establish a better information and improved communications in a medical institution. It reduces the possibility of misplaced and lost records thus ensuring the patient record; test results are available when needed. It reduces cost on paper and supply. But just as much as its ancestor, EHR are subjected to privacy violations. Today, healthcares systems in developed countries are changing dramatically. These countries are looking into more inexpensive communication means using the internet to achieve a more efficient and high quality EHR. With the increase of health care system on information technology, we must also look into the increasing number of threats resulting from distribution and the implementations of the EHR System. Patients and doctors are aware of the security requirements base upon the system with the usage of communications over open and insecure network such as the internet. There are concerns over the privacy and security of electronic health information and they fall into two general categories: â€Å" 1. concerns about inappropriate releases of information from individual organizations 2. oncerns about the systemic flows of information throughout the health care and related industries† – National Research Committee (1997, p. 54) The first category can result either from an authorized users who intentionally or unintentionally access or distributes information in violation of the institution policy or from hackers who break into a institution’s computer system. The second categ ory refers to the open disclosure of patient health information to parties that may act against the interests of the patient or may also be alleged as invading a patient’s privacy. EHR stored at medical institution are vulnerable to internal or external threats. Internal threats includes authorized system users or medical personnel who abuse and misuses their privileges by accessing information for inappropriate reasons such as viewing their friends, neighbors, colleagues or to leak information to the press for spite, revenge, or profit. External threats or unauthorized access, which is related to the open architecture of Internet, sometimes by vindictive former employees, angry patients, network intruders, hackers or others may steal information, damage systems, or disrupt operations. Till today, there have been modest amounts of evidence to gauge the exposure of EHR to external attacks as there are still no tools for detecting attacks on EHR in the healthcare industry. In a case reported by Marbach, William D. (1983), so-called â€Å"414† group broke into a computer system at the National Cancer Institute in 1982, although no damages were reported. Study by the Federal Bureau of Investigation and the Computer Security Institute (CSI), CSI Director Patrice Rapalus(1996, p. 2) said, â€Å"The information age has already arrived, but most organizations are woefully unprepared . . . making] it easier for perpetrators to steal, spy, or sabotage without being noticed and with little culpability if they are. † Set of laws are being introduced for patient record privacy put strict demands on healthcare providers to protect patient information while using EHR while sharing the information with other patients. Six main factors are integrity, dependability, av ailability, confidentiality, authenticity and accountability. Patient records involves very sensitive data, which should only be disclosed to authorize users, thus confidentiality of the required data is essential. Integrity and availability of the services are also important. To accomplish the desire measure of information system security, a range of security policy models have been proposed and implemented in healthcare. One of the most widely use of security policy being adopted by medical institutions to protect patients information in a EHR System is the Role Based Access Control policy. Role Base Access Controls (RBAC) is the common policy being used in an ERH System. These include two basic types of access control mechanism that are used to protect data which are discretionary access control (DAC) and mandatory access controls (MAC). DAC is very supple hence it is not suitable for protection of health records. MAC on the other hand is stricter, allowing ample space for flexibility and it requires all users handling the records to follow a set of rules administered by the system admin. RBAC in EHR System should have the advantages of both DAC and MAC. With the RBAC approach, EHR System should adopt the roles and the authorization management in its system. In RBAC, it identifies which staffs in a medical institution are authorized to view a patient medical record. It restricted the data from being abuse or falling to the wrong hands. Each and every medical staff in a medical institution are assigned a specific role and operates the EHR System according to their role. Medical staffs are only allowed to view patients’ record that they are allowed to access. Not all data are being revealed to the every role. G. Pangalos(1998) states that: â€Å"EHR System identifies the following roles in its system: 1. Patients. They have access to their own health institution, personal and demographic data. 2. Physicians. Main Users of EHR System. Make diagnosis, admissions and treatment. Act on behalf of patients. 3. Doctors. Responsible for the laboratory tests and evaluation results. 4. Nurses. Responsible for providing daily care to patients. Don’t need to know any sensitive personal patient data. 5. Other Healthcare Professionals. Responsible to perform treatments for example psychiatric consultation. 6. Administration. Responsible for collection of the administrative, social, personal and non-personal demographic and insurance information about the patient. 7. Local authorities. Specifically Government bodies have access to health records for research or investigation purposes and any sensitive personal data will not be reveal. Department of Health and Human Services (1998), in the proposed rule for security and electronic standards, â€Å".. each organization that uses communications or networks would be required to protect communications containing health information that are transmitted electronically over open networks so that they cannot be easily intercepted and interpreted by parties o ther than the intended recipient, and to protect their information systems from intruders trying to access systems through external communication points†. (vol 63, No 155) As of the statement above given by the Department of Health and Human Services, all information that are sent over the internet must only be accessed by authorized receiver. Today’s technologies allow users to prove their authenticity and with data encryptions allow data to be transmitted safely over the medium. Data encryption should be at a satisfactory level of security to protect against intruders, thus data integrity have been compromised. User authentication must also be present with the encryption and data transmission process to ensure that the data sent are received by authorized receiver. Other than data encryption, a good firewall should also be implemented on the database server to avoid external intruders from accessing unauthorized data. Although these policies and counter measures are being implemented, unauthorized data leakages do still prevails. Medical records of celebrities and famous people are sought after by the media around world. This is due to the interest of people and money. So patient plays a part in protecting their own medical records. They have to put their trust in the medical institution where their records are being kept.

Pnb Project Report

Research Project on Application & Management of Information System in Punjab National Bank IN PARTIAL FULFILLMENT OF MASTER’S DEGREE IN BUSINESS ADMINISTRATION INDRAPRASTHA UNIVERSITY (2008-2010) Submitted by: Pratik Jain — 0781563908 Northern India Engineering College (N. I. E. C), Delhi Under the valuable guidance of: Mrs. Shaveta Kumar (Faculty, N. I. E. C) Subject: Information System Management Course Code: MS-205 Submitted on: 30 17 November, 2009 AcknowledgementThis formal piece of acknowledgement is an attempt to express the feeling of gratitude towards people who helped me in successful completion of research project. I would like to express my deep gratitude to Mr. B. D Sharma (branch manager, PNB), for his constant co-operation. He was always there with his competent guidance and valuable suggestion throughout the pursuance of this research project. Special thanks to Mrs. Shaveta Kumar, my internal coordinator who guided me to work honestly and to give valuabl e suggestion for improving my work.Above all no words can express my feelings to my parents, friends all those persons who supported me during my project. I would also like to thank almighty God for his blessings showered on me during the completion of project report. INDEX | | | | | |S. NO |Sub Topic |Topic Name |Page Number | | |S.NO | | | |1. |Acknowledgement |2 | |2. |COMPANY PROFILE | | | |1. |Origin – Punjab National Bank |4 | | |2. |Profile |5 | | |3. Vision and Mission |6 | | |4. |Financial Performance Comparison |7 | |3. |INFORMATION SYSTEM IN PNB | | | |1. |History of Information System in PNB |8 | | | |1. 2000- The Beginning | | | | |1. b 2001-2003- Long Term Strategy | | | | |1. c 2004-2007- Growth | | | | |1. d 2008- Rural Initiative | | | | |1. 2009- 100% CBS Implementation | | | |2. |Other Banking Applications |12 | | | |2. a Straight to Processing (STP) | | | | |2. b Depository Setup | | | | |2. Bank Mate & EDI | | | |3. |PNB IT Setup |13 | | | |3. a S ystems | | | | |3. b Network Design | | | | |3. Storage, WAN & Connectivity | | | | |3. d Security Systems | | | | |3. e Hardware & Software Resources | | | |4. |Organizations Other Computing Resource |15 | | | |4. Payroll TPS | | | | |4. b Online Assistance | | | | |4. c Account Opening – MIS | | | | |4. d SPNS, RTGS & Mobile Alert Service | | |4. IMPACT OF INFORMATION SYSTEM | | | |1. |Finacle’s Impact |16 | | |2. |Impact on Employees, Customers |17 | |5. |Available Alternatives |18 | |6. |Conclusion |19 | |7. Suggestion |20 | |8. |References |21 | Company Profile – Punjab National Bank Origin Established in 1895 at Lahore, undivided India, Punjab National Bank (PNB) has the distinction of being the first Indian bank to have been started solely with Indian capital.The bank was nationalized in July 1969 along with 13 other banks. From its modest beginning, the bank has grown in size and stature to become a front-line banking institution in India at pre sent. |[p|A professionally managed bank with a successful track record of over 110 years. | |ic| | |] | | |[p|Largest branch network in India – 4668 Offices including 432 Extension Counters spread throughout the country. |ic| | |] | | |[p|Strategic business area covers the large Indo-Gangetic belt and the metropolitan centers. | |ic| | |] | | |[p|Ranked as 248th biggest bank in the world by Bankers Almanac, London. |ic| | |] | | |[p|Strong correspondent banking relationships with more than 217 international banks of the world. | |ic| | |] | | |[p|More than 50 renowned international banks maintain their Rupee Accounts with PNB. |ic| | |] | | |[p|Well equipped dealing rooms; 20 different foreign currency accounts are maintained at major centers all over the globe. | |ic| | |] | | ProfileWith its presence virtually in all the important centers of the country, Punjab National Bank offers a wide variety of banking services which include corporate and personal banking, industria l finance, agricultural finance, financing of trade and international banking. Among the clients of the Bank are Indian conglomerates, medium and small industrial units, exporters, non-resident Indians and multinational companies. The large presence and vast resource base have helped the Bank to build strong links with trade and industry.With over 38 million satisfied customers and 4668 offices, PNB has continued to retain its leadership position among the nationalized banks. The bank enjoys strong fundamentals, large franchise value and good brand image. Besides being ranked as one of India's top service brands, PNB has remained fully committed to its guiding principles of sound and prudent banking. Apart from offering banking products, the bank has also entered the credit card & debit card business; bullion business; life and non-life insurance business; Gold coins & asset managementsbusiness,setc.Since its humble beginning in 1895 with the distinction of being the first Indian ba nk to have been started with Indian capital, PNB has achieved significant growth in business which at the end of March 2009 amounted to Rs 3,64,463 crore. Today, with assets of more than Rs 2,46,900 crore, PNB is ranked as the 3rd largest bank in the country (after SBI and ICICI Bank) and has the 2nd largest network of branches (including three overseas offices).PNB has always looked at technology as a key facilitator to provide better customer service and ensured that its ‘IT strategy’ follows the ‘Business strategy’ so as to arrive at â€Å"Best Fit†. The bank has made rapid strides in this direction. Along with the achievement of 100% branch computerization, one of the major achievements of the Bank is covering all the branches of the Bank under Core Banking Solution (CBS), thus covering 100% of its business and providing ‘Anytime Anywhere’ banking facility to all customers including customers of more than 2000 rural branches.The bank has also been offering Internet banking services to the customers of CBS branches like booking of tickets, payment of bills of utilities, purchase of airline tickets etc. Towards developing a cost effective alternative channels of delivery, the bank with more than 2150 ATMs has the largest ATM network amongst Nationalized Banks. With the help of advanced technology, the Bank has been a frontrunner in the industry so far as the initiatives for Financial Inclusion is concerned. With its policy of inclusive growth in the Indo-Gangetic belt.The Bank has launched a drive for biometric smart card based technology enabled Financial Inclusion with the help of Business Correspondents/Business Facilitators (BC/BF) so as to reach out to the last mile customer. The BC/BF will address the outreach issue while technology will provide cost effective and transparent services. The Bank has started several innovative initiatives for marginal groups like rickshaw pullers, vegetable vendors, dairy far mers, construction workers, etc. The Bank has already achieved 100% financial inclusion in 21,408svillages.Backed by strong domestic performance, the bank is planning to realize its global aspirations. In order to increase its international presence, the Bank continues its selective foray in international markets with presence in Hongkong, Dubai, Kazakhstan, UK, Shanghai, Singapore, Kabul and Norway. A second branch in Hongkong at Kowloon was opened in the first week of April’09. Bank is also in the process of establishing its presence in China, Bhutan, DIFC Dubai, Canada and Singapore. The bank also has a joint venture with Everest Bank Ltd. EBL), Nepal. Under the long term vision, Bank proposes to start its operation in Fiji Island, Australia and Indonesia. Bank continues with its goal to become a household brand with global expertise. Amongst Top 1000 Banks in the World, ‘The Banker’ listed PNB at 250th place. Further, PNB is at the 1166th position among 48 In dian firms making it to a list of the world’s biggest companiesscompiledsbysthesUSsmagazines‘Forbes’. Punjab National Bank continues to maintain its frontline position in the Indian banking industry.In particular, the bank has retained its NUMBER ONE position among the nationalized banks in terms of number of branches, Deposit, Advances, total Business, operating and net profit in the year 2008-09. The impressive operational and financial performance has been brought about by Bank’s focus on customer based business with thrust on SME, Agriculture, more inclusive approach to banking; better asset liability management; improved margin management, thrust on recovery and increased efficiency in core operations of the Bank. Vision and Mission Vision To be a Leading Global Bank with Pan India footprints and become a household brand in the Indo-Gangetic Plains providing entire range of financial products and services sssssssunder one roof† Mission â€Å"Ba nking for the unbanked† Performance Comparison over the years [pic] During the FY 2008-09, the bank achieved a net profit of Rs 3,091 crore, maintaining its number ONE position amongst nationalized banks. Bank has a strong capital base with capital adequacy ratio at 14. 03% as on March’09. As on March’09, the Bank has the Gross and Net NPA ratio of 1. 77% and 0. 17% respectively.During the FY 2008-09, its’ ratio of priority sector credit to adjusted net bank credit at 41. 53% & agriculture credit to adjusted net bank credit at 19. 72% was also higher than the respective national goals of 40% & 18%. Information System in PNB History of Information System at PNB 2000 – The Beginning In March 2000, the penetration and use of IT was not very high at PNB. PNB was relying on manual processes to collect, store, and analyze business data. Its retail branches were not connected and it was difficult for management to understand business drivers and impediment s.This situation made it difficult for PNB to provide optimum customer service and resulted in lost opportunities. Manual operations were also costly to support. The bank used seven different software, which ran on 13 different flavors of UNIX, on standalone PCs. The 500-odd branches were not networked and only 35 percent of the bank's business was computerized. The overall expertise in IT among users was low. The Central Vigilance Commission (CVC) issued a directive to the bank to computerize at least 70 percent of its business by December 2000.This prompted the bank to work out a strategy to tackle the daunting task in the short period of time. At that time there were various factors which caused a barrier in implementing an Information System for centralized banking. These weaknesses were:- †¢ Different Unix OS used in different branches. †¢ Different standalone financial applications on PCs at different branches. †¢ Lack of interoperability due to disparity in sys tems. †¢ Limited expertise on the software packages currently deployed. †¢ Most branches did not have a proper LAN in place.PNB hired a consultant and devised a two-pronged plan of action. The plan comprised: †¢ A short term goal – To meet the CVC deadline of 70 percent computerization. †¢ A long term goal – To create a dependable core banking infrastructure and build a nationwide network to connect different branches to the core infrastructure. PNB chose a product from a company called Nelito. It was a DOS-based, ‘Partial Branch Automation' application. Standalone versions were chosen since there weren't LANs in place, and deployment of LANs at branches would take so long that the CVC deadline couldn't be met.The interface was simple in design, and thus easy for the bank personnel to use. The bank requested CVC for an extension of the deadline and was granted time till March 2001. By March 2001, 70. 60 percent of the bank's business was compu terized. 2001-2003 – The Long Term Strategy In the long-term, PNB wanted a technology that would consolidate all its business resources and sustain the bank's future growth. It also wanted to create its own network, which would play a vital role in its success. Three consultants were appointed to review technology options for long-term adoption.The verdict of the consultants was to deploy a centralized core banking architecture. On 30 March 2001, the bank used the services of Infosys for the deployment of Finacle. A core team was selected, which would be the heart of the project. Infosys trained 200-odd personnel from a core team over six months. The core team modified and customized the package according to its specific needs. As the time passed besides making a mark in terms of revenues, the bank— among the few technology-savvy PSUs—set up examples for other banks, especially PSUs in early of this decade.Institute for Development and Research in Banking Techno logy (IDRBT), a division of the Reserve Bank of India (RBI), presented PNB with the award for excellence in banking technology in 2002. This was quite an achievement considering that the technology transformation started only two-and-a-half years back at PNB. In March 2000, the bank had only 36 percent of its businesses covered on computers, as against 84 percent in 2002. PNB purchased servers, security infrastructure, and storage equipment and decided to house it in its own central data center in New Delhi.A lot of infrastructure from Cisco has been used to build the data center. In April 2002 the bank rolled-out Finacle in 7 branches as a pilot venture. This was done because the bank had seven different application packages, and it wanted to ensure smooth migration of the data into Finacle. By mid May 2002, all data from other software was successfully migrated into Finacle and by end of year, the number of locations has increased to 12. As far as the centralized core banking syst em is concerned, PNB has a data centre at the corporate office and all these 12 centers have an extension to that data.This system enables an individual having an account in any of our branches to conduct transactions/operate the account from any of these 12 branches. 2004-2007 – The Growth Stage In 2004, India's National Association of Software and Service Companies (NASSCOM) nominated Punjab National Bank (PNB) as the best user of technology in its sector. The bank continued to spread the technology to more of its branches and centers. The adoption of Core Banking Solution not only ensured standardization of products, but also enabled quick launch of the new and innovative financial products ensuring sufficient lead time to market it.The core banking solution offered seamless platform for integrating various such initiatives and also reduces the cost of transaction, thereby offering financial products at an affordable cost. On May 27,2004 Punjab National Bank (PNB) has intr oduced Loans and Advances Data Desk for Evaluations and Reports, (LADDER), a computerized management information system for rationalization of returns, asset classification and provisioning, credit monitoring and NPA management. The implementation of the system comprised two modules. The first module would require branches to capture data on borrowal accounts as a | |one-time activity with transaction updates at periodic intervals. | |   | |The second module for implementation of the software envisages collection of information on the loan accounts from the stage of receipt of | |application to disbursement of sanctioned loans. | | |With the implementation of this system, manual collation of a large number of loan-related returns become redundant and branch staff | |concentrated on business development and objective monitoring of asset quality. | 2008 – Rural Initiative Infosys Technologies Ltd (Infosys) and Punjab National Bank (PNB) in 2008 announced that PNB has chosen Finacle from Infosys to power its core banking initiative for rural banking deploying Finacle across PNB’s six Regional Rural Banks (RRBs) covering 1300 branches.Punjab National Bank took lead in business excellence and commitment to customers by providing core banking coverage to its 4850 service outlets. Due to the remoteness of rural branch locations, there were issues such as connectivity of branches for operational ease, centralization of data, and enhancement of customer service as well as innovation in banking products. Moreover, all this is needed at a substantially lower cost for RRBs as their operations were relatively less complex. Finacle from Infosys recognized this need of RRBs and adapted its industry leading core banking solution to suit the requirements of these institutions.PNB management selected this platform to transform and standardize the operations of its RRBs. A majority of Indian banks were already ahead in terms of adoption of new age technology. Ex tending the benefits of technology to RRBs helped sponsor banks in not just priority sector lending but also present an additional business avenue with tremendous potential. Finacle enabled RRBs to better manage audit processes, adhere to statutory compliance, enhance internal MIS requirements and offer customers competitive services on par with commercial banks. 2009 – 100% CBS ImplementationIn Feb, 2009 India's second largest public sector bank, announced that it has completed 100 per cent core banking implementation at its 4604 branches and extension counters through the FinacleaUniversalaBankingaSolutionafromaInfosys. The bank implemented industry-leading Finacle CBS across its operations running a flexible and scalable database platform from Oracle and innovative and cost-effective Sun SPARC enterprise serversafromaSunaMicrosystems. Finacle has enabled the bank to consolidate and centralize its operations, improving branch efficiency and productivity per employee.Consoli dation has also resulted in reduction of revenue leakage and cost, while increasing ease of technical support and maintenance at branches. The solution's scalability has also enabled the bank's scalability to be the best in the countryawithatheanumberaofapeakatransactionsaata3. 5amillion. Further, the bank has covered all the branches under CBS platform including extension counters. As a result, 38 million PNB’s customers are enjoying the facility of â€Å"one bank – one account†. In addition, the bank has intended to build a data center capable of handling business of 6000 branches and 1 lakh terminals.The bank was awarded â€Å"IBM green award† for adopting environment friendly technology for data warehouse implementation during the year. Other Banking Applications The banking major also introduced a number of value added services like ATMs, Tele-banking, SMS banking, mobile banking and Internet banking, remote access facility through its website, etc. under a license from RBI to launch Internet banking. The bank also enabled customers to avail of the Straight to Processing (STP) facility. The biggest advantage of STP is that if a person with an account in Delhi deposits a cheque in Chennai, his account in Delhi gets updated the same day.PNB’s team has also customized this package to suit the typical requirements of a public sector bank. â€Å"As PNB handles huge number of government accounts—public provident fund, deposit of income tax, deposit of different duties and treasury payments, PNB had to customize it and also built a module for government businesses into this package. The bank also has a depository set-up (to store dematerialized share certificates) at its corporate office in New Delhi and another in Mumbai. Customers owning shares and bonds can deposit them at these depositories after which the hard copies are destroyed.The bank, on the other hand, keeps a digital copy of all these documents. Thus, one d oes not have to bother about the loss of paper, or a signature that does not match and so on. Customers can now instruct the bank at any point of time to transfer these securities. Another very interesting development with PNB is its contract with Indian Railways. It is putting up an ATM machine at the New Delhi station’s reservation office, which is going to be a interface between the Railways’ server and the bank’s server.Once this is functional, customers can collect their tickets from the ATM machine and the payment can be made using credit or debit cards. Once this is successful and the interface is done, the bank plans to enable all their ATMs across the country on this platform. Electronic Data Interchange (EDI) is another technology initiative that the bank has taken up. It has entered into an agreement with the Customs department wherein the Customs’ server is connected with the bank’s corporate office server, which is further connected to several branches of PNB and also to importers.Thus, whatever duties are required to be deposited with the Customs department can be debited from the importer’s (read customer’s) account automatically. The pilot project for this has already been carried out and the bank plans to introduce this service soon. The PSU has also introduced bilingual software known as Bank-mate. With the help of this software one can generate reports in Hindi and also can get his/her passbook in Hindi. This is already in operation at around various branches and PNB is also getting orders for this package from other banks. PNB’s IT SetupPNB also has a number of applications running on its network like any other Financial Institution. The bank has standardized all its platforms on UNIX operating system and RDBMS on Oracle. Other OS like Microsoft’s windows 2000/ XP are also enabled in centers. As far as the hardware platform is concerned, PNB has Sun Microsystems’ Web serv ers at the data centre. Apart from this, they are also using Compaq, IBM and Xeon servers. At some locations, the bank is still using DOS machines to run some of their ATMs. Systems Before deploying the core banking architecture, PNB used servers which were NT-based, from IBM, and from other vendors.The bank conducted benchmarking tests for Finacle on various server platforms. And it was satisfied with the performance of Sun's hardware on Solaris. Sun's Fire servers, Solaris OS, and Oracle's RDBMS are now in use. Network design Cisco has tied up with PNB to evolve the network design and implement a nationwide network backbone to connect all its offices. Cisco will assist the bank in understanding and implementing the various technologies associated with the project. The converged network infrastructure allowed PNB to standardize the applications and software needed to provide the banking services.The various branches are connected to the data center using new-world routing and switc hing technologies. Storage systems The bank has followed RBI's storage requirement guidelines. Provisions have been made to store transaction data for around 10 years. In some cases, data is stored permanently. Around 164 Sun enterprise class servers are used in DAS architecture. The total capacity is of multiple TBs. The Sun hardware uses an in-built storage management tool. Later look over a storage management application from VERITAS. WAN and connectivity 101 branches of the bank were on a WAN in 2000.The bank put 500-odd branches on the WAN in 2002, and in three years the WAN had 2000-odd branches. The bank tried a number of connectivity options. 802. 11b wireless connectivity was installed in five branches to begin with. The bank then explored the option of leased lines and used connectivity from MTNL and BSNL. It also used Bharti's leased line between Mumbai and Delhi. The bank also used Reliance Infocomm's fiber optic backbone along with the leased lines in locations where th e optic fiber does not reach. PNB had appointed HCL Com-net to carry out 24Ãâ€"7 monitoring of the countrywide network.There's a live link between HCL and PNB's IT head office. The network is monitored remotely and can also be viewed at the bank's IT facility, where a separate monitoring system is used. Security Systems Security was especially important because the bank could afford no compromise. The security architecture had to be robust, reliable, and scalable to meet current and future needs. Cisco was chosen as the service provider who could meet these stringent requirements. The bank uses a range of security products like Firewalls and IDSs from Cisco for its security needs in its LANs and WAN.All data transactions between its routers and switches are encrypted. It has appointed Ramco Systems as the security integrator. The security integrator is responsible for the complete security infrastructure and is answerable for any security breach or lapse. The bank appointed securit y administrators. VeriSign provided the necessary Public Key Infrastructure (PKI) to the bank for secure transactions. Software Resources PNB is using various software’s for its operational activities for its smooth and efficient running, the Software used by PNB include:-  ¬ Microsoft office 2003 Acrobat Reader  ¬ Bank-mate  ¬ Attack Filters: – Spyware, Trojan, VoIP etc.  ¬ Protocols: – IP, VLAN, DNS, HTTP, FTP, TCP, TELNET, UTP etc.  ¬ Operating System’s:- UNIX, Solaris, Windows NT, 2000 Server, XP etc..  ¬ Databases: – MS Access, MS SQL, Oracle, FoxPro. Hardware Resources To fulfill the requirement and as per compatibility with software these hardware are used:-  ¬ HCL, IBM etc Desktops,  ¬ Printer  ¬ NT Based servers from IBM,  ¬ Sun’s hardware for Solaris,  ¬ Network Cards.  ¬ Routers, Scanners etc†¦ Organizations Other Computing Resources Payroll Transaction Processing SystemPayroll TPS, which is a typical accounting transaction processing system found in PNB. A payroll system keeps track of the money paid to employees. The master file is composed of discrete pieces of information (such as a name, address, or employee number) called data elements. Data are keyed into the system, updating the data elements. The elements on the master file are combined in different ways to create reports of interest to management and government agencies and to send paychecks to employees. Management notices the record of the employee’s efficiency to work and may declare added bonus or other incentive.This report is checked and approved by the branch manager after which cheque is issued to the employee. Online Assistance PNB provides its customers online assistance by providing i-banking, online complaints, providing them information about various products and services. These complaints and assistance are processed by customer care services executive. Account Opening In account opening the MIS is used, every information about the customer is recorded like their name, address, account, type of account, account information, their sample signature, these helps in Identification of customer instantly and creating a database at faster rate.This includes the filling of KYC and AC forms. SPNS (Shared Payment Network System) Swadhan, the first SPNS launched in Mumbai by IBA. The banks that participate on this network could issue the cards to customers for transacting on networks. RTGS (Real Time Gross Settlement) RTGS System is a payment settlement system that minimizes the credit risk in the prevalent cheque clearing system. Under RTGS the funds are settled on a near real time basis across Banks in different locations.Bank offers this immediate electronic fund transfer facility to RTGS enabled bank branches across through the country its designated RTGS enabled locations. Mobile Alert Service The clients now have the facility to subscribe to Mobile Alert Service for receiving alert s on registered mobile phone numbers instantly after the funds are pooled. Impact of Information Systems An information system is there to empower its users. A database simply provides data, but an information system is all about providing the best information the user needs to do their task more effectively.It also takes into account that different users doing their own specific tasks may need to see their information presented in differing ways. The benefits of an information system follow when the user can quickly access, understand and respond correctly to that information. The implementation of Information Systems in PNB and other financial institutions had a vast impact on the Employees (the way they work), Customers, The industry & Government. The system provides information on the past, present and project future and on relevant events inside and outside the organization. Finacle’s ImpactFinacle core banking solution is a comprehensive, integrated yet modular business solution that effectively addresses the strategic and day-to-day challenges faced by banks. It is highly parameterizable providing that much-needed flexibility to adapt to a dynamic environment. The solution has an integrated CRM module enabling banks to offer a rich and differentiated value proposition to customers. The layered Service Oriented Architecture (SOA), STP capabilities, web-enabled technology and 24 X 7 operations ensure multi-channel, multi-country and multi-currency implementations.The functionality-rich modules in the solution provide banks with a varied palette of features to continuously innovate on their product and service offerings. With Finacle core banking solution, banks can meet the challenges of managing change, competition, compliance and customer demands effectively. †¢ Differentiated Product Spread Finacle core banking solution offers an unlimited palette of features for banks to design and deploy products for varying market segments.The product bu ndling capabilities of the solution offers a wide range of possibilities for banks to create products with innovative features. The facilities provided for differential pricing, channel rules and customization through Finacle Studio – the scripting engine, empower banks to continuously innovate and extend their suite of products, across segments. †¢ Agile Operations The Service Oriented Architecture (SOA) enables the IT team at the bank to effect changes without touching the base code, ensuring lesser vendor dependency and faster adaptability to changing business conditions. Robust Cross-sell Framework The CIF and CRM capabilities in Finacle offer a unified view of the customer across the entire solution and across multiple back-end applications, enabling the bank to view the customer from a completely informed angle. This empowers banks to effectively manage customer relationships and aggressively explore cross-sell opportunities. †¢ Increased Operational Efficienc ies and Productivity Finacle core banking solution supports business events automation and process orchestration, thus eliminating manual tasks and reducing process time.The elimination of error and data redundancies also results in increased branch productivity. Straight through Processing (STP) abilities enhance reduction in turnaround and processing time, increasing output and enabling speedy completion of tasks. The multilingual web-based single repository of information enables remotely located bankers to collaborate and transact seamlessly. Impact on Employees Information System serves employees with user friendliness, easy storage and access of data, removal of redundancies, fastening up of the processes and providing up of multiple views at same time.In beginning the issues were mostly cultural. Most staffers were used to working in a manual environment, and some had worked in standalone environments. In the new networked environment, personnel at the node/counter didn't act ually ‘see' the transactions updating in the various account books. This gave rise to a number of queries and suggestions from personnel. It took around six-eight months for the personnel to felt that the environment ‘change' had done them good, and they were used to working on the systems. Other Available AlternativesThe Indian banking sector is slowly coming of age and hand grooming this sector is the banking solution market, which has carved a name for itself in the global arena. Not to forget the pro-active government reforms that are helping the Indian banking market reach greater heights and adding glitz and glamour to Indian economy as a whole. Other then Finacle from Infosys there are various available alternatives for which the banking industry and financial institutions can opt. These are:- †¢ Office Accounting Professional 2009 †¢ SAP ERP Financials †¢ Tally 9: Financial Accounting and Inventory Management Software †¢ Flexcube – â₠¬Ëœi-flex solutions’ Hyperion Financial Management – System 9 While in past i-flex solutions’ flagship product Flexcube has been rated the #1 banking product in the world by UK based IBS, an independent banking solutions rating vendor, but Infosys Technologies’’ Finacle doesn’t took long enough to overtake Flexcube. But now a day’s SAP ERP programmes are giving a tough competition to Finacle. Conclusion A management information system is a system or process that provides the information necessary to manage an organization effectively. MIS and the information it generates are generally considered essential components of prudent and reasonable business decisions.This report starts with the Punjab National Bank with overview of PNB followed by history of information system and the steps taken by PNB to be effective in banking industry by using information’s technology. Information Technology (IT) innovations in the last few years have changed the landscape of banks in India. Today, IT seems to be the prime mover of all banking transactions. Electronic and Information Technology together are bringing a swift change in the way banks operate, especially offering better delivery channels and customers’ friendly services.Anywhere banking, telebanking, mobile banking, net banking, automated teller machine(ATMs), credit cards, debit cards, smart cards, call centers, CRM, data warehousing have totally transformed the banking industry. Today almost all the major banks in India like ICICI Bank, UTI Bank, Citibank, Standard Chartered Bank, ABN Amro, SBI and PNB are offering online services to their customers. ATMs have emerged as the most favored channel for offering banking services to the customers in the world.One of the biggest benefits that the bank has derived out of IT has been the tremendous saving on recruitment front—the bank has not recruited more staff even while the business and work pressure s have gone up five times. Consequently, PNB’s profitability has also increased. To train users the bank has set up more than 15 computer training labs across the country. It explains all the TPS how the transactions are made by the bank, using of these TPS from the new events such as account opening, new allowances etc†¦ to the routine work including cash and payments record, updating of records, payroll and the processing of the complaints.These TPS holds all the activities from the manager and employees to the customers. The report discuses the inbound and the outbound logistics and relate all the processes of TPS used in the bank with the Information System is enabling the bank to provide the quality and satisfactory services to their customers. Suggestions The bank is using information system efficiently and it has increased the customer satisfaction, efficiency, data storage, fast data retrieval. But to improve more and regarding future success of PNB here are the some suggestions. The bank must update Hardware to get maximum performance from Information Systems in order to allow the IS to procure the least amount of system resources it requires for functioning.  ¬ The bank should update all their software, networks etc to keep information system up to date for competitive edge, customer satisfaction.  ¬ Steps should be taken to increase the safety & to avoid the unethical practices like phishing.  ¬ Need for improved training for using Information Technology and tools to employees.  ¬ Intra firm communication should be improved.References Websites:- http://www. networkmagazineindia. com/200305/tech4. shtml http://www. expresscomputeronline. com/20021202/banks7. shtml http://www. business-standard. com/india/news/pnb-to-implement-loan-data-software/151819/ http://www. financialexpress. com/news/pnb-in-networking-pact-with-cisco/64296/ http://www. pnbindia. com/ http://netpnb. com/ Books:- PNB Vision 2007-2008 Zonal Training Centre Gui de. ———————– (The name you can bank upon) All Banks Average Punjab National Bank (Performance Chart) (Amount in Rs Crore)

Child Development Essays

Child Development Essays Child Development Essay Child Development Essay Essay question: Jean Piaget proposed a step-wise sequence of mental development during childhood. Provide an overview of Piaget’s core ideas, discussing evidence for and against these ideas. Jean Piaget (1869-1980) started to investigate children’s development after two years of working with children in Binet’s lab (Eddy, 2010). He found that children of younger aged gave different answers than those of alder age not because they have less knowledge but because they thought differently.He describes development as sequence of stages and each of these stages represents different type of thinking occurs in variable ages in different background (Vidal, 2000) Focal point – children have all the cognitive mechanisms to learn by constantly react with their environment. Experiences also play an very important formative role in children’s development. Piaget (1985) says that experience engenders disequilibrium and eventually a higher state of equilibrium. So me underlying principle behind Piaget’s theory: Schema: cognitive structures or frameworks that represent certain aspect of the world and to help individuals understand the world they inhibit. * Adaptation: the process that builds and adapts our schemes through interaction with environment. * Assimilation: a process that takes in substances and stimulations or incorporates/ fits new information into pre-existing schema (Read, 1997). * Accommodation: this happens when the existing schema does not work and changes are needed to adapt better to the assimilated reality (Read, 1997).The four stages of Piaget’s theory of cognitive development: 1. The sensorimotor stage (0-2 years): Develop the ability to make sense of the world by using their senses ad motor abilities. 2. Preoperational stage (2-7 years): begin to develop motor skills but still lacks of understanding of conservation of physical properties. Wellman and Gelman (1992) claim that young children by age 3 or 4, th ey see people as processing beliefs, desires, thoughts and images as well as emotional reactions. 3. Concrete operational stage (7-11 years): child able to think logically 4.Formal operational stage (11 years ): able to manage higher order reasoning. (Read, 1997) * Describe each of the stages with more details. * Critically discuss the stages of Piaget’s theory. Strength of Piaget’s theory This theory changes the way that people thinks the child’s mind and his work increases interest in child development and it is very useful as practical application to the real world such as education and development psychology(Cherry, 2013). Further the understanding of cognitive development and children.Weakness Some have said that children are more precocious than what Piaget’s proposed. Piaget underestimated children’s abilities (Cherry, 2013). Some claim that Piaget’s did not include intervention into account. He did not consider about the importance of social influence of an adult. The aspects in Piaget’s step-wise model are strict and rigid. Besides, Cherry (2013) states that research show that all children will automatically move to next stage of development but not through environmental factors.

What to Expect in Graduate School

What to Expect in Graduate School You planned ahead and sought experiences to construct a solid graduate school application. Through hard work, good grades, a solid GRE score, stellar letters of recommendation, and countless grad school interviews, you won admission to a  program. Prepare yourself for whats next including several years of intense research, studying, and professional growth. What is grad school really like? Here are five things to expect as a graduate student.   1.  Successful Graduate Students are Autonomous Graduate school is less structured than college. It requires independent thinking and the initiative to figure things out on your own. You may have to choose your own advisor. It will be up to you, with a little guidance, to carve out an area of research and find a thesis or dissertation topic. You will also want to network and make professional contacts which will be essential to advancing in your field and getting a job after graduation. New grad students often wait for someone to tell them what to do. For success in graduate school, be prepared to take control of your own education. 2.  Graduate School is Not Like Undergrad Doctoral and masters programs are nothing like college. If youre considering graduate school because youre doing well in college and enjoy school, be aware that grad school will likely be very different than the last 16 or more years of school youve experienced.  Graduate study, especially at the doctoral level, is like an apprenticeship. Instead of sitting in class for a couple of hours a day and then being free, grad school is more like a job that occupies all of your time. Youll spend a great deal of your time working on research in your advisor or mentors lab. 3.  Graduate School Means Research While college centered around classes, graduate school centers around research. Yes, youll take courses, but the purpose of doctoral education is to learn to conduct research. The emphasis is on learning how to gather information and construct knowledge independently. As a researcher or professor, much of your job will consist of gathering materials, reading, thinking about what youve read, and designing studies to test your ideas. Grad school, especially doctoral education, is often preparation for a career in research. 4.  Doctoral Study Takes Time A doctoral program is typically a five- to eight-year commitment. Usually, the first year is the most structured year with classes and lots of reading. Most students are required to pass a set of comprehensive exams at various points in their program in order to continue. 5.  The Dissertation Determines Your Final Outcome The doctoral dissertation is the basis for earning a Ph.D. Youll spend a great deal of time searching for a thesis topic and advisor, and then reading up on your topic to prepare your dissertation proposal. Once the proposal is accepted by your dissertation committee (typically composed of five faculty members that you and your advisor have chosen based on their knowledge of the field), youre free to begin your research study. Youll plug away for months or often years until youve conducted your research, made some conclusions, and written it all up. After youve finished, youll prepare your dissertation defense: a presentation of your research to your dissertation committee where youll answer questions and defend the validity of your work. If all goes well, youll walk away with a new title and some special letters behind your name: Ph.D.

Capital Budgeting Research Paper Example | Topics and Well Written Essays - 1250 words

Capital Budgeting - Research Paper Example Capital budgeting is a resource allocation process that requires a balance between three factors, which include amount of resources that are to be expended, rate of utilization of those resources, and the time within which the investment starts showing some return in the form of profit. The basic aim of this report is to provide an in-depth understanding of important issues related to capital budgeting. The report also demonstrates the role of capital budgeting in the process of business development. Importance of Capital Budgeting Morgan (2006) states, â€Å"The success of a business depends on the capital budgeting decisions taken by the management†. Capital budgeting is basically a tool to evaluate, analyze, compare, and select the most appropriate project from a list of projects available for investment. Capital budgeting is one of the most important managerial tools, which helps the managers choose among different projects based on cash flows and rates of return. The mana gers choose those projects for investment, which are likely to generate considerable profits for their companies. In an interview with Mr. Darren Sammy, assistant manager finance department of Covrick Business Solutions, Sammy said that capital budgeting, if done properly, not only strengthens the financial position of the investing companies but also plays its role in strengthening the economy of a country as a whole (D. Sammy, personal communication, February 25, 2011). One can know the importance of capital budgeting by the fact that it increases a company’s credibility and profits by assisting the managers in the selection of most suitable investment opportunity for the company. Capital budgeting also helps the companies get considerable benefits from an investment over time, reduce the risks related to capital shortage, and increase the revenues. Three Important Factors There are some factors, which the companies need to consider while creating a capital budget for any s pecific project. Tatum (2011) asserts, â€Å"In order for the capital budgeting for a project to be attractive, the projections have to indicate several factors that will make up the outcome of the project†. Those factors include time needed to recoup the allocated resources, expected generation of revenues from the project, and amount of resources required to sustain the project’s momentum. It is a fact that a company, which recoups all allocated resources within a reasonable amount of time, enjoys more profits from the venture as compared to those companies which are not able to recover their investments in a short time. Capital budgeting for a project is successful if the project continues to generate profits for a long time. The graph of profitability generated from a selected project should continue to rise before leveling out, and this can only happen when the amount of resources required to sustain the project’s momentum are less than the amount of resour ces allocated to the project at the point of launch. Capital Budgeting Process Having discussed the importance of capital budgeting in the businesses and the considerable factors for budgeting, let us have a look at the capital budgeting process. The capital budgeting process helps managers select the most profitable projects from a pool of projects, time the projects’ expenditures, and include the selected projects into a

Examine how effectively one local authority empowers young people by Essay

Examine how effectively one local authority empowers young people by facilitating the election of a young mayor - Essay Example Apart from this, the other policies being undertaken by the government include the establishment of the ‘Youth Innovations Zones’. In fact, in recent scenario, the UK government is undertaking prudent strategies in order to accelerate the youth participation. The youth participation is increasing in the areas such as building futures, developing engagement and augmenting participation in learning as well as work among others (Department for Education, 2011). The UK government’s effort in providing the young generation with the power to generate opportunities for themselves can be well identified by ‘Young Mayor’s Project’. London Borough of Lewisham is known for its history that reflects about the encouragement and the involvement of young people’s participation pertaining to the local democracy. This particular project is determined as a strategy to encourage citizenship along with the participation of Lewisham’s young people. This study intends to discuss the effectiveness of the local authority in empowering the young people by facilitating the election of a young mayor in the London Borough of Lewisham. Furthermore, the concerned study will provide a reflection on the young people policies and practices. It will further evaluate the notion of youth participation and citizenship for the work with young people. ‘Young Mayor’ is regarded as a young person, who is usually elected by a group of young people to represent themselves. ‘Young Mayor Scheme’ is looked upon as the election process. In accordance with the ‘Youth Mayor Scheme’, it can be determined that this particular scheme executes considering the cabinet based system. One of the key constituents of Lewisham‘s Young Mayor Scheme is that it involves 25 young advisers for the purpose of decision making. In this regard, it can be well ascertained that their prior responsibilities include conveying the information and the concerns of the young