A brief history of science education in Ghana Essay

Science education is the cultivation and disciplining the mind and other faculties of an individual to utilize science for improving his life, cope with an increasingly technological world, or pursue science academically and professionally, and for dealing responsibly with science related social issues (Akpan, 1992). Ghana, formerly known as the Gold Coast, was the first African country to the south of the Sahara to gain political independence from colonial rule in 1957. This former British colony of 92,000 square miles (about 238,000 square kilometers) shares boundaries with three French-speaking nations: the Cote d’Ivoire to the west, Burkina Faso to the north and Togo to the east. The Gulf of Guinea of the Atlantic Ocean is to the south of the country. EARLY HISTORY OF EDUCATION BEFORE INDEPENDENCE As was the case in many colonies during the early colonial period, the main goal of education was to ‘make civilization march hand-in-hand with evangelization’ (Anum –Odoom, 2013). This statement gives a clear description of how education in Ghana was implemented at that time. The formal, western-style education in Ghana is directly associated with the history of European activities on the Gold Coast The Portuguese were the first Europeans to arrive at the Guinea coast in 1471. Their intention to establish schools was expressed in imperial instructions that, in 1529, encouraged the Governor of the Portuguese Castle at Elmina to teach reading, writing, and the Catholic religion to the people. It is imply proven that the Danish, Dutch and the English merchants also set up schools in their forts and castle to educate their mulatto children by native women. Unmistakably linked to the implementation of formal education in Ghana with the Christian missionaries, who realized that in order to spread the word of God, they needed well- educated local assistants. Following the consolidation of the coastal region as the British Gold Coast Colony, the administration became more aggressive in pursuit of its educational policy. This was precipitated by the British purchase of the Danish property at Christiansborg in 1850 and the Dutch Elmina Castle in 1872. To help redress problems faced by the mission schools—such as training local teachers and improving the quality of education—the administration made grants to both the Wesleyan and Basel missions in 1874. In the Educational Ordinance of 1882, government grants to denominational schools were made dependent on an assessment of the level of efficiency. The schools receiving grant-in-aid were defined as â€Å"government assisted schools,† but their primary funding was to come from the missions themselves and from other private sources. On the Gold Coast, the appointment of Brigadier General Gordon Guggisberg as governor brought its own advantages. During his tenure from 1919 through 1927, Governor Guggisberg initiated several major developmental programs that included educational improvements as a critical ingredient in his construction of a modern Gold Coast. While the previous administration had seen the provision of elementary schools by the various Christian missions as adequate, Guggisberg was of the conviction that the current system could not sustain future developments. In fact, only a few months after his arrival, the governor presented a 10-year development plan for the Gold Coast. Among other things, funding was aggressively sought for post elementary education for boys and girls. Even though the administration proposed a technical college for Accra, the Prince of Wales College (now Achimota College) was the real trophy of the administration’s educational program. This non denominational school catered for students from kindergarten to the pre university level. THE BIRTH OF SCIENCE EDUCATION The inadequacies inherent in the system of education were observed in the post-World War I appeal made by the Foreign Missions Conference of North America to the Phelps-Stokes Funds for a review of the state of education in Africa. The Phelps-Stokes Commission on Africa issued reports in 1922 and 1925 in which educators were criticized for inadequately catering to the social and economic needs of the continent. The commission of which James Emman Kwegyir Aggrey was a member, called for instructions in the mechanical operations necessary for the improvement of the condition of the mass majority of the people. This included science education and character training. The Phelps-Stokes fund’s founded in 1920, is an African Education Commission represented one of the early attempts to link black Africa with Negro America. The attempt to forge this link represented a concerted policy on the part of a number of missionary and philanthropic groups in the United Kingdom and the United States to draw attention to what seemed to be analogous situations-politically, socially, and economically. Ghana is said to be the first independent sub-Saharan African country outside South Africa to embark on a comprehensive drive to promote science education and the application of science in industrial and social development (Anamuah-Mensah, 1999). Science Education after Independence After Phelps- stokes commission had pushed for the birth of science education in Africa in general and in particular, Gold Coast, there has not been any clear cut national policy for science education in Ghana up to date (Ahmed, 2013). Dr Kwame Nkrumah who aimed at achieving Free Compulsory Universal Basic Education instituted an Act called 1961 Act, (Act 87) . This Act was to make Basic education free and Compulsory and anyone who fails to send his or her child to school was made to pay a fund by the Minister for education. The education system at that point consisted of six year of primary education, followed by four-years of secondary education. At the end of the four years suitable students went on to do a two-year sixth form course that could lead to a three year University course. Students, who were not suitable to continue, completed two- year of pre-vocational classes. The Nkrumah government encouraged the learning of science by instituting a special scholarship scheme which enabled science and agriculture undergraduates to enjoy scholarships a little higher than those of their counterparts in the humanities. This facility was withdrawn after 1966. Science and mathematics teachers were also paid a little more than their colleagues in the humanities. (Djangmah, 2007) The Reforms The seven year development plan instituted by Dr. Kwame Nkrumah was short lived. The system was later regarded as too long and too academic. Thus Dzobo Education Reforms of 1974 saw a reform of the system, instating the Junior Secondary School (now Junior High School) on an experimental basis. The Junior Secondary School introduced practical subjects and activities allowing students to acquire occupational skills, which after an apprenticeship lead to the qualification for self-employment. Due to a wide range of factors such as the economic decline, bureaucracy and sheer lack of interest the JSS-system never went beyond the experimental phase. By 1983 the education system was in a state of crisis. It faced drastic reductions in Government financing, lack of educational materials, and deterioration of school structures, low enrollment levels and high dropout rates. With the assistance of several development partners (World Bank, Department for International Development (ODA) and international grants) the education system was reviewed and proposals were implemented in 1987 known as Evans-Anfom reforms. In 1987, Ghana’s Ministry of Education introduced a restructured educational system that gradually replaced the British-based O-level and A-level system. The transition was completed in June, 1996, when the last class took A-level exams. The last O-level exams were administered in June 1994, although a remedial exam was offered through 1999 (Keteku, 2013) The 1987 Reforms had strengths as well as weaknesses. One of the strengths was that it provided a comprehensive Basic Education which improved access to education for more children of school-going age. Junior Secondary Schools were provided throughout the country and this helped to increase literacy levels. The reform also introduced Continuous Assessment which formed part of the final examination. This ensured that internal assessment in schools was included in the final examinations and this ended the single-shot examination existing in the old system. The Anamuah-Mensah Report recommended similar structure of education just like the Evans-Anfom Report of 1986. The difference was the inclusion of two (2) years of Kindergarten education as part of Basic Education and Apprenticeship training for leavers of the Junior Secondary School who unable to or do not want to continue in the formal sector. The implementation of the Anamuah-Mensah Reforms began in September 2007, and it was faced with initial problems. These problems included delay in the supply of syllabuses and textbooks for the smooth take-off of the programme, and teachers were not adequately prepared in terms of training to implement the reforms. These problems were later dealt with as the implementation of the reforms progressed. The next major problem being anticipated is the inadequate classrooms and other facilities as students will enter the fourth year of Senior High School in September 2010. The Way Forward For Science Education Promotion of science education in the country will depend on three drivers of change, namely, funding, teaching and interventions, and research (Akyeampong ,2007) Funding Knowledge is not cheap. Science, technology and mathematics knowledge required to move the country into the knowledge society can never be cheap. Government’s commitment to science education should be demonstrated in the level of resources allocated to science and technology. Laboratories and workshops in the schools, teacher training colleges, universities and polytechnics should be well equipped and new ones constructed to take into consideration the increasing student population. Research The knowledge society thrives on the creation of new knowledge. Research provides the means by which new knowledge is created. Resources, both material and human, for research in science and technology are woefully inadequate or non-existent. This has had a profound effect on the development of post graduate research in the universities. A number of measures need to be taken to strengthen research in science and technology in order to meet the demands of the country. The following are being suggested: †¢Research in research institutions and the universities should be adequately funded. †¢Most researches carried out in the universities are those that interest the researchers and are hence supply-driven; the Government should challenge our scientists and provide funds to carry out research on problems confronting the country. This can be done through the provision of research funds to be competed for by all scientists in the country. †¢Establish a National Science Research Facilities Centre equipped with world class specialized facilities which are normally expensive and therefore beyond the means of single institutions, to provide opportunities for Ghanaian researchers to carry out scientific research and development and retain local researchers as well as attract foreign ones. †¢To improve the quality of science education at all levels, research in science and technology should include research on teaching and learning science, technology and mathematics. †¢Institute special awards for best researchers and science teachers. This could be termed the President’s Award for Science to be given annually. We need to celebrate achievement. †¢Set up a formal scheme for mentoring the Youth- This is critical to the development of a career path in science for the youth. Mentors excite interest in junior colleagues and help them to â€Å"walk the path†. This experience is however rare in the universities. These days, newly recruited scientists struggle to keep afloat with little or no support. A formal mentoring system should be established in all institutions to ensure that young scientists recruited into the universities or research institutions are attached to professors and senior scientists in their fields of study to receive advice and support. The mentoring can take the form of joint research, publications and presentations at conferences and seminars. †¢To raise the level of awareness of science and technology innovation (research) and foster a synergy among education, industry and research institutes, a project referred to as SMART. MOVES in some countries should be established in secondary schools. This project will involve encouraging schools through visits, presentations and seminars to work on problem solving projects with support from the community. The projects will be assessed and students with innovative and creative projects will be invited to present their projects at a Junior Scientist Conference which will be attended by senior scientists who can later act as mentors for the students. Prizes will be given to students based on the quality of project and presentation. The Ghana Academy of Science and Arts can take up this. Conclusion The vision of the National Science and Technology Policy is: â€Å"to support national socio-economic development goals with a view to lifting Ghana to a middle income status by the year 2020 through the perpetuation of a science and technology culture at all the levels of society, which is driven by the promotion of innovation and the mastery of known and proven technologies and their application in industry, and other sectors of the economy†. (MEST, 2000) This vision can become a reality when science education is given a boost at all levels of education. It has been suggested that the promotion of science education hinges on three pillars – funding, teaching and intervention, and research. Without adequate funding, quality teachers, supportive intervention activities and research to illuminate our understanding, science education will have no impact on the everyday lives of Ghanaians; and the observation made by the National Development Planning Commission will remain true. Our national vision for science and technology will be therefore be meaningless. REFERENCES Ahmed, M. (2012). Ghana to launch National Science policy. Retrieved 4th October, 2013, from http://www. ghanaweb. com/GhanaHomePage/NewsArchive/artikel. php? ID=235350. Akpan, O. E. (1992) Toward Creative Science teaching and learning in West African school. Ghana: catholic Press Akyeampong, K. (Centre for International Education, University of Sussex, England) in his lecture on â€Å"50 Years of Educational Progress and Challenge in Ghana†, at Parliament House, London, England; 2007 Anamuah-Mensah, J. (1999). Science and Technology Education in Ghana. A paper delivered at the National education Forum on the theme: Towards Sustaining an Effective National Education System, held at the Accra International Conference Centre, Accra, 17-19th November. Anum-Odoom, A. K. M . Educational Reforms in Ghana, 1974-2007. Retrieved on 12th October, 2013, from http://www. ghanaweb. com/GhanaHomePage/blogs/blog. article. php? blog=2091&ID=1000004125- Djangmah, J. S. Clarifying Ghana’s national vision for the application of science and technology to development. Retrieved on 12th October, 2013, from http://www. ghanansem. org/index. php? option=com_content&task=view&id=234 Keteku, N. W (EDUCATIONAL REFORM IN GHANA: THE SENIOR SECONDARY SCHOOL). Retrieved 10th October, 2013, from http://www. bibl. u-szeged. hu/oseas_adsec/ghana. htm Ministry of Environment, Science and Technology (MEST) (2000). National Science and Technology Policy Document. Accra: MEST.

Branches of Philosophy Essay

1. Logic Logic is the science and art of correct thinking. It attempts to codify the rules of rational thought. Logicians explore the structure of arguments that preserve truth or allow the optimal extraction of knowledge from evidence. Logic is one of the primary tools philosophers use in their inquiries; the precision of logic helps them to cope with the subtlety of philosophical problems and the often misleading nature of conversational language. 2. Ethics. Ethics is the study of the nature of right and wrong and good and evil, in terms both of considerations about the foundations of morality, and of practical considerations about the fine details of moral conduct. Moral philosophers may investigate questions as sweeping as whether there are such things moral facts at all, or as focused as whether or not the law ought to accord to rape victims the right to an abortion. 3. Metaphysics Metaphysics is the study of the nature of things. Metaphysicians ask what kinds of things exist, and what they are like. They reason about such things as whether or not people have free will, in what sense abstract objects can be said to exist, and how it is that brains are able to generate minds. 4. Epistemology Epistemology is the study of knowledge itself. Epistemologists ask, for instance, what criteria must be satisfied for something we believe to count as something we know, and even what it means for a proposition to be true. Epistemology is sometimes referred to as the â€Å"theory of knowledge. † 5. Axiology Axiology is philosophical the study of value; the investigation of its nature, criteria, and metaphysical status. More often than not, the term â€Å"value theory† is used instead of â€Å"axiology. † 6. Aesthetics Aesthetics is the study of value in the arts or the inquiry into feelings, judgments, or standards of beauty and related concepts. Philosophy of art is concerned with judgments of sense, taste, and emotion. Other Divisions of Philosophy 1. Philosophy of the Mind 2. Philosophy of the Person 3. Political Philosophy 4. Social Philosophy 5. Philosophy of Language 6. Philosophy of Science 7. Philosophy of Art 8. Philosophy of Language 9. Philosophy of Religion 10. Philosophy of Law 11. Philosophy of Education 12. Philosophy of History _______________________________ Cruz, Corazon L. 2005. Philosophy of man (third edition). Mandaluyong City: National bookstore Divisions and definition of philosophy. 2005. Available at http://philosophy. lander. edu/intro/what. shtml. Retrieved last November 8, 2010. Gripaldo, Rolando M. 2008. Philosophy, Sophism/Sophistry, and Pilosopo. Included in The philosophical landscape : A panoramic perspective on philosophy. Quezon City: C&E Publishing. Vuletic, Mark I. 2010. What is philosophy? Available at http://www. vuletic. com/hume/ph/philosophy. html. Accessed last November 8, 2010.

Comparison of Public and Private Banks

A â€Å"SUMMER TRAINING† PROJECT REPORT ON COMPARATIVE STUDY BETWEEN PRIVATE SECTOR BANKS ANP PUBLIC SECTOR BANKS Submitted To: PUNJAB TECHNICAL UNIVERSITY,JALANDHAR MASTER OF BUSINESS ADMINISTRATION(MBA) SESSION(2007-09) CT INSTITUTE OF ENGINEERING,MANAGEMENT & TECHNOLOGY,JALANDHAR (SHAHPUR CHAMPUS) PREFACE Someone has rightly said that practical experience is for better and closer to the real world then mere theoretical exposure.The practical experience helps the students view the real world closely, which in turn widely influences their perceptions and argument their understanding of the real situation. Research work constitutes the backbone of any management education programme. A management student has to do research work quite frequently during his entire span. The research work entitle â€Å"COMPARATIVE STUDY BETWEEN PRIVATE SECTOR BANKS AND PUBLIC SECTOR BANKS† aims to analyze various services provided by private sector banks and public sector banks for this pu rpose Pathankot city have been chosen.ACKNOWLEDGEMENT I feel immense pleasure to give the credit of my summer training project work not only to one individual effort of all those who concern with it. I want to thanks to all those individual who guided me to move on the track. The summer training project entitled â€Å"COMPARATIVE STUDY BETWEEN PRIVATE SECTOR AND PUBLIC SECTOR BANKS† I am gratefully indebted to Mr. Davinder Singh for providing me all the necessary help and required guideline for the completion of my project and also for the valuable time that he gave me from his scdedule. Neha Kapoor TABLE OF CONTENTS |CHAPTER NO. PARTICULARS |PAGE NO. | | 1 |INTRODUCTION OF THE STUDY | 1-23 | | 2 |OBJECTIVES OF THE STUDY | 24-25 | | 3 | 3. 1 RESEARCH METHODOLOGY | 26-36 | | | | | | |3. LIMITATIONS OF THE STUDY | | | | |37 | | 4 |DATA ANALYSIS AND ITS INTERPRETATION | 38-46 | | 5 |FINDING OF THE STUDY | 47-50 | | 6 |SUGGESTIONS 51-54 | | 7 |CONCLUSION | 55-56 | | 8 |BIBLIO GRAPHY | 57-58 | | 9 |ANNEXURE | 59-62 | Introduction The world of banking has assumed a new dimension at dawn of the 21st century with the advent of tech banking, thereby lending the industry a stamp of universality.In general, banking may be classified as retail and corporate banking. Retail banking, which is designed to meet the requirement of individual customers and encourage their savings, includes payment of utility bills, consumer loans, credit cards, checking account and the like. Corporate banking, on the other hand, caters to the need of corporate customers like bills discounting, opening letters of credit, managing cash, etc. Metamorphic changes took place in the Indian financial system during the eighties and nineties consequent upon deregulation and liberalization of economic policies of the government.India began shaping up its economy and earmarked ambitious plan for economic growth. Consequently, a sea change in money and capital markets took place. Application of marketing concept in the banking sector was introduced to enhance the customer satisfaction the policy of privatization of banking services aims at encouraging the competition in banking sector and introduction of financial services. Consequently, services such as Demat, Internet banking, Portfolio Management, Venture capital, etc, came into existence to cater to the needs of public.An important agenda for every banker today is greater operational efficiency and customer satisfaction. The mew watchword for the bank is pretty ambitious: customer delight. The introduction to the marketing concept to banking sectors can be traced back to American Banking Association Conference of 1958. Banks marketing can be defined as the part of management activity, which seems to direct the flow of banking services profitability to the customers. The marketing concept basically requires that there should be thorough understanding of customer need and to learn about market it operates in.Further the market is segmented so as to understand the requirement of the customer at a profit to the banks. DEFINITION OF BANK The Oxford dictionary defines the Bank as, â€Å"An establishment for the custody of money, which it pays out, on a customer’s order. † According to Whitehead, â€Å" A Bank is defined as an institution which collects surplus funds from the public, safeguards them, and makes them available to the true owner when required and also lends sums be their true owners to those who are in need of funds and can provide security. † Banking Company in India has been defined in the Banking Companies act 1949, One which transacts the business of banking which means the accepting, for the purpose of lending or investment of the deposits of money from the public, repayable on demand, or otherwise and withdraw able be cheque, draft, order or otherwise. † The banking system is an integral subsystem of the financial system. It represents an important channel of collecting small savings form the households and lending it to the corporate sector. The Indian banking system has Reserve Bank of India (RBI) as the apex body for all matters relating to the banking system. It is the central Bank of India.It is also known as the Banker To All Other Banks. EVOLUTION OF INDIAN BANKING Ancient banking system of India constituted of indigenous bankers. They have been carrying on their age-old banking operations in different parts of the country under different names. The modern age of banking constitutes the fundamental basis of economic growth. The term Bank is being used since long time but there is no clear conception regarding its beginning. According to the viewpoint, in good old days. Italian money leaders were known as â€Å"Banchi† because they kept a special type of table to transact their business.IMPORTANCE OF BANKS Today banks have become a part and parcel of Kotak Bank's life. There was a time when dwellers of the city alone coul d enjoy their services. Now banks offer access to even a common man and their activities extend to areas hitherto untouched. Banks cater to the needs of agriculturalists, industrialists, traders and to all the other sections of the society. In modern age, the banking constitutes the fundamental basis of economic growth. Thus, they accelerate the economic growth of a country and steer the wheels of the economy towards its goals of â€Å"self reliance in all fields†.It naturally arouses Kotak Bank's interest in knowing more about the ‘Bank’ and the various men and the activities connected with it. Indian Banking System Banking in India has its origin as early as the Vedic period. It was believed that transition from money lending to banking must have occurred even before Manu, The great Hindu Jurist, who has devoted a section of his work to deposit advance and laid down rules relating to rates of interest. During the Mogul period, the indigeneousBankers played a ve ry important role in lending money financing foreign trade and commerce.During the days of East India Company, it was turn over the agency houses to carry on the business. â€Å"The General Bank of India† was the first to join sector in the year 1786. The others that followed were the Bank of Hindustan and the Bengal bank. The bank of Hindustan is reported to have continued till 1906 while the other two failed in the meantime. In the first half of the 19th century the East India Company established three banks: 1. Bank of Bengal (1809). 2. Bank of Bombay (1840). 3. Bank of Madras (1843. These three banks are also known as Presidency Banks were independent units and functioned well.These three banks were amalgamated in 1920 and Imperial Bank of India was established on 27th january1921, which started as private shareholders banks, mostly Europeans shareholders, with the passing of time Imperial bank was taken over by the newly constituted State bank of India act in1955. In 186 5 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up.Reserve Bank of India came in 1935. On July, 1969, 14 major banks of India were nationalized and on 15th April, 1980 six more commercial private banks were also taken over by the government. Reserve Bank of India The Banking system is an integral sub-system of the financial system. It represents an important channel of collecting small savings from the households and lending it to the corporate sector. The Indian banking system has The Reserve Bank of India (RBI) as the apex body from all matters relating to the banking system. It is the â€Å"Central Bank† of India and act as the banker to all other banks.Functions of RBI: †¢ Currency issuing authority †¢ Banker to the government. †¢ B anker to other Bank. †¢ Framing of monetary policy. †¢ Exchange control. †¢ Custodian to foreign exchange and gold reserves. †¢ Development activities. †¢ Research and development in the banking sector. CLASSIFICATION OF BANKS On the basis of Ownership PUBLIC SECTOR BANKS Public sector banks are those banks that are owned by the government. The government owns these banks. In India 20 banks were nationalized in 1969 and 1980 respectively. Social welfare is there main objective. PRIVATE SECTOR BANKSThese banks are those banks that are owned and run by private sector. An individual has control over these banks in proportion to the shares of the banks held by him. CO-OPERATIVE BANKS These are those banks that are jointly run by a group of individuals. Each individual has an equal share in these banks. Its shareholders manage the affairs of the bank. According to the Law SCHEDULED BANK Schedule banks are the banks, which are included in the second schedule of th e banking regulation act 1965. According to this schedule bank: 1. Must have paid-up capital and reserve of not less than Rs500, 000. . Must also satisfy the RBI that its affairs are not conducted in a manner Determinate to the interest of its depositors. Schedule banks are sub-divided as:- a) State co-operative banks b) Commercial banks NON-SCHEDULED BANKS Non -schedule banks are the banks, which are not included in the second schedule of the banking regulation act 1965. It means they do not satisfy the conditions lay down by that schedule. These are the banks having paid up capital, less than Rs. 5Lakhs. They are further classified as follows:- A. Central Co-operative banks and Primary Credit Societies.B. Commercial banks According to Function COMMERCIAL BANKS These are the banks that do banking business to earn profit. These banks make loans for short to business and in the process create money. Credit creation is the main function of these banks. FOREIGN BANKS These are those ba nks that are incorporated by foreign company. They have set up their branches in India. These banks have their head offices in foreign countries. Their principle function is to make credit arrangement or the export and the import of the country and these banks deals in foreign exchange. INDUSTRIAL BANKSIndustrial banks are those banks that offer long term and medium term loan to the industries and also work for their development. These banks help industries in sale of their shares, debentures and bonds. They give loan to the industries for the purchase of land and machinery. AGRICULTURAL BANKS Agricultural banks are those banks that give credit to agricultural sector of the economy. SAVING BANKS The principle function of these banks is to collect small savings across the country and put them to the productive use. In India department of post office functions a savings banks. CENTRAL BANKCentral Bank is the apex bank of the banking system of the country. It issues currency notes and acts a banker's bank. Economic stability is the principle function of this bank. In short, it regulates and controls the banking system of the country. RBI is the Central Bank of India. PRIVATIZATION OF INDIAN BANKING For the public sector banks, the era of bumper profit is over. For much of the last decade the process of collaborated financial liberalization had cleared up the Bank’s balance sheet enabling them to with stand increased competition, global financing, turmoil and even unprotected industrial slow down.But the cycle of liberalization has run its full course. Now it is the time for the big structural leap, rationalization, mergers, and privatization. Unless the banks undertake these fundamental changes, their profit will stay under pressure. There are twp areas of competitions which banking industry is facing internationally and nationally. In the pre-liberalization era, Indian banks could grow in a closed economy but the banking sector opened up for private compe tition. It is possible that private banks could become dominant players even within India.It has been recorded a rapid rise of the new private sector banks and it has tracked the transformation of the public sector banks as they grapple with the changes of financial deregulation. Use of ATM cards, Internet Banking, Phone Banking, Mobile Banking are the new innovative channels of banking which are being widely used as they result in saving both time and money which are two essential things that every one is short of and is running to catch hold of them. Moreover private sector banks are aligning its infrastructures, marketing quality and technology to build deep commitment in building consumer and retail banking.The main focus of these banks is on innovative range of services or products. STRUCTURE OF BANKING SYSTEM Different countries of the world have different types of banking systems. However, commercial banking had grown under all these banking systems. To understand the structu re of banking system, let us take up various types of banking systems one by one. These types are: (1) UNIT BANKING Unit Banking originated in the United State of America. It grew in the United States of America. As a counter part of independent or industrial units. An independent unit bank is a corporation that operates one office and that is not related to other banks through either ownership or control. Shaper, Solomon and White. Thus under unit banking, a single bank is a complete organization in itself having its own management. The scale of operation is small and the area is restricted to a locality only. Unit banking is localized banking and is much more responsive to the needs of the locality. It has better understanding of the local problems and conditions, which helps it to cater to the needs of the area in a better way.The staff of the unit bank is generally local and is in a better position to determine the standing or desirability of the customers. The failure of the un it bank will not endanger the banking system and economy. It is free from the difficulties and diseconomies of large scale operations. It will not drain out the financial resources of villages and small towns to big industrial centers and will ensure a balanced growth. (2) BRANCH BANKING: Economic and Managerial problems faced by the unit banks let to the emergence of banking system. Now, This the most popular and important banking system.In branch banking, a bank has a large network of branches scattered all over the country. Branch banking developed in England. Subsequently most of the countries of the world adopted the system. In terms of branches, the State Bank of India has emerged as one of the largest banks in the world. As under the system the resources of a number of branches get pooled under the same management, any individual branch is in a better position to face excessive withdrawals by the customers. It facilitates diversification of activities because the area covered by the branches is generally widespread.Under the system branches can operate without keeping large idle cash reserves. It becomes possible for the bank to hire the services of competent and professionally qualified managers, capable of understanding the handling technical problems and complex situations. The cost of remitting or transferring funds from one place to another works out to be less. The staff stays at a branch only for a limited period, so the chances of objective decision making in the branch banking are high. Branch Banking tends to bring homogeneity in the prevailing Interest Rates as it increases the mobility of resources from one place to another.It is easier for the Central Bank to exercise Control. It will communicate only with a few Registered /Head Offices of the Banks and not with each individual branch. In this system there more safety and liquidity of funds. The choice of securities and investments is larger. Branch banking makes complete banking services a vailable to the smallest communities. The branches in small localities can be initially operated at loss in expectation of future gains. The comparative study of unit banking and branch banking is a case of small scale banking versus large scale banking. It is evident that the scale is clearly titled towards branch banking.With the growth of large scale business it is no wonder that the trend is almost every country towards the branch banking i. e. big banks with a network of branches all over the country. Even in the U. S. A. The birthplace of unit banking. The Bank of America has now more than 500 branches in the state of California itself. (3) CHAIN BANKING : Shaper, Solomon and White have defined Chain Banking as â€Å"An arrangements by which two or more banks –each of which retains its identity, capital and personnel –are brought under common control by any device other than a Holding Company. † Under the system there is pooling of resources.Chain banking overcomes certain limitations of unit banking. But the system suffers from certain limitations of its own. There may be a lack of co-ordination, proper control etc. The system is inflexible. (4) GROUP BANKING : It is similar to Chain Banking, the difference being that under Group Banking two or more banks are brought under the control of the same management through a Holding Company. Both the systems aim at gaining the advantages of large scale operations. The banks are able to pool their resources in case of emergency or when large amount of cash is required to meet the loan requirements of the customer.The advantages and disadvantages of both the systems are similar. Both the systems developed in the United State of America as a result of attempts to overcome the difficulties or limitations of unit banking. (5) CORRESPONDENT BANKING: Under Correspondent banking, small banks serving local communities hold deposits with joint banks serving in big cities. This kind of banking is prev alent in U. S. A. The correspondent banks perform two important services of outstation cheque clearing and loan participation for the respondent banks while they benefit for the deposit funds of respondent banks.A) COMMERCIAL BANKS [pic] PRIMARY FUNCTIONS : 1) Accepting of Deposits : A bank accepts deposits from the public. People can deposit their cash balances in either of the following accounts to their convenience:- a. Fixed or Time Deposit Account : Cash is deposited in this account for a fixed period. The depositor gets receipts for the amount deposited. It is called Fixed Deposit Receipt. The receipt indicates the name of the depositor, amount of deposit, rate of interest and the period of deposit. This receipt is not transferable.If the depositor stands in need of the amount before the expiry of fixed period, he can withdraw the same after paying the discount to the bank. b. Savings Account : This type of deposit suits to those who just want to keep their small savings in a bank and might need to withdraw them occasionally. Banks provide a certain rate of interest on the minimum balance kept by the depositor during the month. c. Current Account : This type of account is kept by the businessman who are required to withdraw money every new and then. Banks do not pay any interest on this account.Any sum or any number of withdrawals can be presented by such an account holder. 2) Advancing of Loans : The bank advances money in any one of the following ways. a. Overdraft Facilities : Customers of good trading are allowed to overdraw from their current account. But they have to pay interest on extra amount they have withdrawn. Overdrafts are allowed to provide temporary accommodation since the extra amount withdrawn is payable within a short period. b. Money at Call : It is the money lent for a very short period varying from 1 to 14 days.Such advances are usually made to other banks and financial institutions only. Money at call ensures liquidity. In the Inte rbank market it enables bank to make adjustment according to their liquidity requirements. c. Loans : Loans are granted by the banks on securities which can be easily disposed off in the market. When the bank has satisfied itself regarding the soundness of the party, a loan is advanced. d. Cash Credit : The Debtor is allowed to withdraw a certain amount on a given security. The debtor withdraws the amount within this limit, interest is charged by the bank on the amount actually withdrawn. . Discounting Bill of Exchange : It is another method of making advances by the banks. Under this method, bank give advance to their clients on the basis of their bills of exchange before the maturity of such bills. f. Investment in Government Securities : Purchasing of government securities by the banks tantamount to advancing loans by them to the Government. Banks prefer to buy government securities as these are considered to be the safest investment. For example : Indira Vikas Patra : It enables the banks to meet requirement of statutory liquidity ratio (SLR) ) Credit Creation :One of the main functions of banks these days is to create credit. Banks create credit by giving more loans than their cash reserves. Banks are able to create credit because the demand deposits i. e. a claim against the bank is accepted by the public in settlement of their debts. In this process the bank creates money. For this reason Prof. Sayers has called bank â€Å"the manufactures of money. † 4) Cheque system of Payment of Funds A cheque, a negotiable instrument, which in fact is a bill of exchange, drawn upon a banker, is the most popular credit instrument used by the client to make payments.Cheque system is the main credit instrument in the banking world. Although a cheque is not a legal tender money, the serves as a medium of exchange in a limited way as it is a negotiable instrument. Because of â€Å"clearing houses† and â€Å"clearing† operations of the banks, cheques can be and are used for transferring funds from one centre to another. In the modern days they can also be used for transferring funds from one country to another. SECONDARY FUNCTIONS Besides the above primary functions, banks also perform may secondary functions such as agency functions, general utility and social functions.A) Agency Functions Banks act as agents to their customers in different ways :- i) Collection and Payment of Credit and Other Instruments: The Commercial banks collect and pay cheques, bills of exchange, promissory notes, hundies, rent, interest etc. On behalf of their customers and also make payments of income tax, fees, insurance premium etc. on behalf of the customers. Customers can leave standing instructions with the banker for various periodic payments ensuring the regular payments and avoiding the trouble of performing it themselves. ii) Purchase and Sale of Securities : The modern ommercial banks also undertake the purchase and sale of various securities like shares, stocks, bonds units and debentures etc. On behalf of the customers, banks do not give any advice regarding the suitability or otherwise of a security but simply perform the functions of a broker. iii) Trustee and Executor : Banks also acts as trustees and executors of the property of their customers on their advice. Sometimes banks also undertake income tax services on behalf of the customers. iv) Remittance of Funds : The Commercial banks remit funds on behalf of clients from one place to another through cheques, drafts, mail transfers etc. ) Representation and Correspondence : Sometimes commercial banks acts as representatives or correspondents of the clients especially in handling various applications. For instance, passports and travel tickets, booking of vehicles, plots etc. vi) Billion Trading : In many countries, the commercial banks trade is billions like gold and silver. In Oct 1997, 8 banks including SBI, IOB, Canara Bank and Allahabad Bank have been allowed import of gold which has been put under open general licensed category. vii) Purchase and Sale of Foreign Exchange : Banks buy and sell foreign exchange, promoting international trade.This function is mainly discharged by foreign Exchange Banks. viii) Letter of References : Banks also give information about economic position of their customers to domestic and foreign traders and vice versa. B) GENERAL UTILITY SERVICES In addition to agency services, banks render many more utility services to the public. These services are :- i) Locker Facilities : Banks provide locker facilities to their customers. People can keep their valuables or important documents in these lockers. Their annual rent is very nominal. ii) Acting as a referee : It desired by the customers, the bank can be a referee i. . who could be referred by the third parties for seeking information regarding the financial position of the customers. The bank will acts as referee only and only if it is desired by the customer, o therwise the secrecy of a customers is account is maintained very carefully. iii) Issuing letters of credit : Bankers in a way by issuing letters of credit certify the credit worthiness of the customers. Letters of credit are very popular in foreign trade. iv) Acting as Underwriters : Banks also underwrite the securities issued by the Government and Corporate bodies for a commission.The name of bank as an underwriter encouraged investors to have faith in the security. v) Acting as information banks : Commercial banks also acts as â€Å"information† bureau as they collect the financial, economic and statistical data relating to industry, trade and commerce. HDFC Bank is providing information relating to NRI Schemes and commentaries of experts on development in the areas of finance through Internet. vi) Issuing Traveler’s cheques and credit cards : Banks have been rendering great service by issuing traveler’s cheques, which enable a person to travel without fear o f theft or loss of money.Now, some banks have started credit card system under which a credit card holder is allowed to avail credit from the listed outlets without any additional cost or effort. Thus, credit card holder need not carry or handle cash all the time. Now, international credit cards are joining hands with Indian Banks. vii) Issuing of gift cheques: Certain banks issue gift cheques of various denominations, e. g. Some Indian banks issue gift cheques f the denominations of Rs. 21, 31, 51 and 101 etc. They are generally issued free of charge. viii) Dealing in Foreign Exchange: Major branches of commercial banks also transact business of foreign exchange.Commercial banks are the main authorized dealers of foreign exchange in India. ix) Merchant banking Services: Commercial banks also render merchant banking services to the customers. They help in availing loans from non-banking financial institutions. x) Help in Transportation of Goods: Big businessmen or industrialists aft er consigning goods to their retailers send the Railway Receipt (Consignment Note) to the bank. List of Public Sector Banks o State Bank of Bikaner & Jaipur o State Bank of Hyderabad o State Bank of Indore o State Bank of Mysore o State Bank of Saurastra State Bank of Travancore Other Nationalised banks are: †¢ Allahabad Bank †¢ Andhra Bank †¢ Bank of Baroda †¢ Bank of India †¢ Bank of Maharastra †¢ Canara Bank †¢ Central Bank of India †¢ Corporation Bank †¢ Dena Bank †¢ Indian Bank †¢ Indian Overseas Bank †¢ Oriental Bank of Commerce †¢ Punjab & Sind Bank †¢ Punjab National Bank †¢ Syndicate Bank †¢ UCO Bank †¢ Union Bank of India †¢ United Bank of India †¢ Vijaya Bank List of Private Sector Bank †¢ Bank of Punjab †¢ Bank of Rajasthan †¢ Catholic Syrian Bank †¢ Centurion Bank †¢ City Union Bank †¢ Dhanalakshmi Bank †¢ Development Credit Bank †¢ Fede ral Bank †¢ HDFC Bank ICICI Bank †¢ IDBI Bank †¢ IndusInd Bank †¢ ING Vysya Bank †¢ Jammu & Kashmir Bank †¢ Karnataka Bank †¢ Karur Vysya Bank †¢ Laxmi Vilas Bank †¢ South Indian Bank †¢ United Western Bank †¢ UTI Bank List of Foreign Banks in India †¢ ABN-AMRO Bank †¢ Abu Dhabi Commercial Bank †¢ Bank of Ceylon †¢ BNP Paribas Bank †¢ Citi Bank †¢ China Trust Commercial Bank †¢ Deutsche Bank †¢ HSBC †¢ JPMorgan Chase Bank †¢ Standard Chartered Bank †¢ Scotia Bank †¢ Taib Bank Upcoming Foreign Banks In India [pic] |[pic] | By 2009 few more names is going to be added in the list of foreign banks in India.This is as an aftermath of the sudden interest shown by Reserve Bank of India paving roadmap for foreign banks in India greater freedom in India. Among them is the world's best private bank by Euro Money magazine, Switzerland's UBS. The following are the list of foreign b anks going to set up business in India †¢ Royal Bank of Scotland †¢ Switzerland's UBS †¢ US-based GE Capital †¢ Credit Suisse Group †¢ Industrial and Commercial Bank of China Merrill Lynch is having a joint venture in Indian investment banking space — DSP Merrill Lynch. Goldman Sachs holds stakes in Kotak Mahindra arms.GE Capital is also having a wide presence in consumer finance through GE Capital India. India's GDP is seen growing at a robust pace of around 7% over the next few years, throwing up opportunities for the banking sector to profit from. The credit of banks has risen by over 25% in 2004-05 and the growth momentum is expected to continue over the next four to five years. Participation in the growth curve of the Indian economy in the next four years will provide foreign banks a launch pad for greater business expansion when they get more freedom after April 2009. Objectives of the StudyThis study has been conducted with a variety of importa nt objectives in mind. The following provides us with the chief objectives that have tried to achieve through the study. The extent to which these objectives have been met could judged from the conclusions and suggestions, which appear in the later of this study. The Chief Objectives of this study are: 1. To find the bank sector that is largely availed by the customer. 2. To study the factors the factors influencing the choice of a bank for 3. availing services. 4. To find and compare the satisfaction level of customers in public sector 5. s well as in private sectors bank. 6. To study the problem faced by customer. 7. To get suggestions for improvement or change in the services of public and private sector banks. 8. To study what do people expect in the new era of banking. RESEARCH METHODOLOGY Research is an art of scientific investigation. In other word research is a scientific and systematic search for pertinent information on a specific topic. The logic behind taking research me thodology into consideration is that one can have knowledge about the method and procedure adopted for achievement of objectives of the project.With the adoption of this others can evaluate the results also. Its main aim is to keep the researchers on the right track. The methodology adopted for studying the objectives was surveying the saving account holders of District Jalandhar. So keeping in view the nature of requirements of the study to collect all the relevant information regarding the comparison of saving account of Centurion Bank of Punjab with other banks, direct personal interview method with structured questionnaire was adopted for the collection of primary data. Secondary data has been collected through the various magazines and newspapers and by surfing on Internet.And the guide in the organization was consulted at many times. SAMPLE DESIGN:-A sample design is a definite plan for obtaining a sample from a given population. It refers to the techniques or the procedure th e researcher would adopt in selecting items for the sample. Sample design may as well lay down the number of items to be included in the sample i. e. , the size of the sample. Sample design is determined before data are collected. Here we select the population as sample in our sample design. The selected respondents should be as representatives of the total population.POPULATION:- The persons holding saving account related to business class of District Jalandhar were taken into consideration. DATA COLLECTION Data was collected by using main two methods i. e primary data and secondary data. PRIMARY DATA Primary data is the data which is used or collected for first time and it is not used by anyone in the past. There are number of sources of primary data from which the information can be collected. We choose the following resources for our research. QUESTIONNAIRE:-This method of data collection is quite popular, particular in case of big enquiries.Here in our research we set 15 simple questions and request the respondents to answer these questions with correct information. RESPONDENTS:-Respondents helps in creation of more accurate idea about our research. We personally meet the respondents inside and outside the banks. SECONDARY DATA Secondary data is the data which is available in readymade form and which is already used by people for some purposes. There may be various sources of secondary data such as-newspapers, magazines, journals, books, reports, documents and other published information.BANKS ANNUAL REPORTS:-Banks issues there annual reports to get the people informed with the profitability and growth of the bank. These annual reports helps us a lot to get the latest data and other related information for our research. It tells us about the increase or decrease in profits and other facilities. JOURNALS AND PUBLICATIONS OF DIFFERENT BANKS :- We also take into consideration the journals and publications issued by the bank at different times. we comes to kn ow about the Branches, ATM, locations and other useful information.MANUALS AND BROACHERS OF DIFFERENT BANKS:-We take the help of bank staff and other people who gives us deep information and data which may not be available at anywhere. They gives us there full co-operation. INTERNET:-We also take into consideration the internet facility with which we collect lot of latest information. SAMPLE PLAN : ? SAMPLE SIZE: Keeping in mind all the constraints the size of the sample of the study was selected as 80. ? SAMPLING UNIT:- Centurion Bank of Punjab Branch in Jalandhar city. Due to nature of study, we also visited various different banks ICICI, HDFC, SBI, PUNJAB NATIONAL BANK etc. f Jalandhar District. ? SAMPLING TECHNIQUE:- Stratified convenient sampling. All the saving account holders were taken into consideration. Research was conducted on clear assumptions that the respondents would give frank and fair answers in a pragmatic way and without any bias. ? SAMPLING DESCRIPTION:- In orde r to understand the nature and characteristics of various respondents in this study, the information was collected and analyzed according to their socio economic background which included the characteristic of their respondents like education, age marital status and monthly income.This description shows that respondents included in this survey belong to different backgrounds and this turn increase the scope of the study. PERSONAL DETAIL AGE |Particulars |%age of Respondent | |20-30 years |20% | |30-40 years |50% | |40-50 years 20% | |50-60 years |10% | [pic] Analysis & Interpretation: From the above study we find that nobody is below 20 age and 20% respondents are between 20-30 age group, 50% respondents are between 30-40 age group, 20% respondents is between 40-50 age group and 10% respondents are between 50-60 age group. SEX Particulars |No of Respondent |%age | |Male |70 |70% | |Female |30 |30% | |Total |100 |100% |Analysis: From the above result we come to know that out of 100, 62 respondents are male and 38 are female which is 62% and 38% are respectively. Interpretation: From the above data we conclude that most of our respondents are male. MARITAL STATUS Particulars |No of Respondent |%age | |Married |33 |33% | |Unmarried |67 |67% | |Total |100 100% | [pic] Analysis: From the above study we find that out of 100%, 33% respondents are married and 67% respondents are unmarried. Interpretation: Most of the respondents of our survey are Unmarried. Q4: HIGHEST EDUCATIONAL QUALIFICATION:- Particulars |No of Respondent |% age | |Matric |4 |4% | |Senior Secondary |14 |14% | |Graduate |46 |46% | |Post graduate | 36 |36% | | Total |100 |100% | [pic] Analysis: This analysis shows that out of 100 respondent, 46% respondents are graduate & professional, 36% respondents are post graduate, 14% respondents are senior secondary and 2% respondents are of Matric category. All the respondents of our survey are qualified. Interpretation: From the above data we conc lude that most of our respondents are Graduates & professional degree holders.OCCUPATION |Particulars |No of Respondent |%age of respondents | |Businessman | 32 |32% | | Government Employee | 28 |28% | | Student | 24 |24% | | Others |16 |16% |Analysis: From the above analysis it is clear that 32% respondents are doing their own business, 28% are employees and 16% respondents belong to other category And 24% of our respondents are students. Most of the respondents of our survey are Businessmen. Interpretation: From the Above data we conclude that most of our survey respondents are businessmen. DATA COLLECTION: Data was collected using two main methods: COLLECTION OF DATA LIMITATIONS OF THE STUDY Due to constraints of time and resources, the study is likely to suffer from certain limitations. Some of these are mentioned here under so that the findings of the study may be understood in a proper perspective. The limitations of the study are: Some of the respondents of the survey were un willing to share information. ? The research was carried out in a short period of 6 weeks . Therefore the sample size and other parameters were selected accordingly so as to finish the work within the given time frame. ? The information given by the respondents might be biased because some of them might not be interested to give correct information. ? The officials of the bank supported me a lot, but did not have sufficient time to make the points more clear. Analysis of Data collected 1. The respondents were asked about which banking sector’s services do their avail. Table1: banking sector’s services which the respondents avail. Banking sector |Number of respondents | |Public |32 | |Private |38 | |Both |30 | Graph 1: Banking Sector’s services which the respondents avails INTERTRETATION:-It was found that most of the respondents were availing services of private sectors banks while those of the public sector banks were less as compare to public sector 2. The res pondents were Asked about the type of account they have in the public sector as well as Private sector banks Table 2. 1 Number of type of account held in Public sectors banks Type of Accounts Name of Account |Savings |Current |Demat |Fixed deposits |Salary | |Total no of respondents |50 |15 |6 |15 |14 | [pic] Graph 2. 1 :- Number of type of accounts held in Public sector banks Analysis: 50% people own Saving Account, 15% own Current account, 6% demat,15% fixed deposits account and 14% salary Account Interpretation: It was found that in case of public sector banks, maximum number of account holders owns Saving Account. After Saving account most prefer account is salary account prefer by people and the next priority goes to fixed deposits Accounts. 3. The basic purpose of this question was to know the most preferred bank. Table 3. Number of respondents preferring different banks Names of Banks |Number of respondents | |ICICI Bank |24 | |HDFC Bank |22 | |State Bank Group |20 | |Pu njab National Bank |28 | |Punjab And Sind Bank |6 | Analysis: From above graph, it is seen that 28% stake of the respondents follows to Punjab National bank followed byICICI bank. It is the bank which provide 12-hour banking. also the ATM machine is more as compared to the other private sector banks. Interpretation : From the above graph, it is seen that Punjab national is the most preferred bank as compared to other Public and Private sector Banks. The reason for preference of public sector bank is the minimum amount of deposit for saving account. 4. The aim to ask this question was to know he reasons for their preference in different banks :- Table 4:- Reason for account in different banks Reasons |No of respondents | |Friendly Behaviour of the Staff |16 | |Reliability/trust |14 | |Quick and fast services |55 | |Location |15 | Graph 4:-Reasons for account in different banks Inpretation: By analyzing this graph, we can conclude that most of the people is influenced by the qui ck and speedy services provided by the bank and location is given less preference than others. 5. The respondents were asked about the facilities they were availing in public as well as private sector banks :- Table 5. Number of people availing different facilities at public sector banks: |Facilities Availed |No of respondents | |ATM/Debit card |60 | |Demat |5 | |Internet/Mobile/Phone Banking |15 | |Insurance |20 | [pic]Graph 5. 1: Number of people availing different facilities at public sector banks Interpretation: From the above graph, it was found that was availed by most of the people at public sector banks was that of ATM/Debit cards which hold 90% of respondents. It is clearly observed by the graph that Insurance are neck to neck holding 20% of respondent each. 6. The purpose of this question is to know the satisfaction level they were having with their banks overall performance:- Public sector banks Table 6. 1 Satisfaction level of the customers regarding the facilities availed from the public sector banks |Level of Satisfaction |No. f respondents |%age | |Excellent |12 |24% | |Good |21 |42% | |Very Good |27 |54% | Graph 6. 1 Satisfaction level of Customers regarding the facilities availed from the public sector banks. Analysis: It was found that in case of public sectors banks, 18% of the respondents were highly satisfied ranked excellent from the products and services availed by them. 44% were just satisfied given very good and 38% have moderate view. Interpretation: People have mixed type of view regarding public sector banks. 7.The respondents were asked that if they have given option, would they like to shift from the present banks:- Table 7 Number of customers ready to shift from present bank. [pic] Graph 7:- Number of customers ready to shift from their present bank or not. Interpretation: From this above Graph, we can conclude that the number of respondents ready to shift from their present bank is 28% while 70% customers seems to be sat isfied from their bank and hence willing to shift from their present bank to other. 8. The aim to ask this question was to know whether the respondents faces any problem regarding the services provided them by their preferred bank :- Table 8 Problem faced by customers. Types of problem |No of respondents | |Time consuming |10 | |Introduction |8 | |Reference |15 | |Too many formalities |6 | |No facility of photograph instantly |4 | |No problem |6 | [pic] Interpretation: It was found that most of the respondents are facing problem of reference. Respondents also find that the time and too much formalities also cause problem in banks. FINDINGS OF THE STUDY More number of people have account with private banks. ? Majority of the respondents whether in public sectors or in private sector banks have savings account with banks. ? Number of problem faced by the people is more in public sector banks. ? People want a change in the behavior of the staff of the public sector banks. ? People are more satisfied form the private sector banks due to their better services provided by them in terms of speedy transactions, fully computerized facilities, more working hours (in case of ICICI bank, the number of working hour are 12), good investment Advisory services, efficient and co-operative staff, better approach to Customer Relationship Management. In private sector banks proper promotional activities should be taken up so as to make the population aware of the services provided by the banks even in rural areas. ? The facility that was availed by most of the people at public sector banks was that of ATM/Debit cards. The least availed facility was that of Demat account and foreign transfer of funds. ? The facility that was availed by most of the people at private sector banks was that of Internet/Phone banking by ATM/Debit card. ? Majority of respondents do not want to shift from their present bank. ? From the above study it is clear that private banks are providing better services than nationalized banks. 5% respondents favored that private banks are providing better services than nationalized banks while 5% respondents are not agree with it. ? From the above study it is clear that majority of the respondents said that the average balance requirement for operating their saving account is between 5000-10000. 20% said it is between 10000-20000 and remaining 5% said it is between 20000-50000 in private sector banks which as compared to Public sector bank is very high. ? 40% respondents said that the bank employees never pay any attention to them and 10% respondents said that their problems are not solved by bank executives. The remaining 50% respondents give a positive reaction in the favour of bank. 0% respondents favoured that their problems are solved by bank executives and 20% respondents said they are received with smile by bank executives. So there is a mix response. ? Majority of the respondents said that the average time taken for transactions i s between 25 to 50 minutes in their bank. 30% respondents said the average time taken for transaction is between 20-25 minutes, 20% said it is between 10 to 25 min. and remaining 10% said that the average time taken for transaction by their bank is 5 to 10 minutes. ? From the above study is clear that the banks do not organize any customer meets. All the 100% respondents said that their bank does not organize any customer's meets to resolve their problems.Customer satisfaction is the demand of time, so the banks should organize customer meets to resolve the problems of their customers. ? From the above study it is clear that majority of the respondents are ready to pay nominal charges for better services provided by private banks while 40% respondents are not ready to pay any nominal charges. ? The above study depicts that 60% respondent said that their bank updates them time to time about the latest facilities and remaining 40% said that their bank doesn't update them. [pic] SUGGES TIONS Based on the study conducted, There are some of the suggestions given by the customers of how the modern banking should be.These are the comment given by them about the improvement of the banking sector in India. ? Banks should obey the RBI norms and provide facilitiesas per the norms, which are not being followed by the banks. While the customer must be given prompt services and the bank officer should not have any fear on mind to provide the facilities as per RBI norms to the units going sick. ? Banks should increase the rate of saving account ? Banks should provide loan at the lower interest rate and education loans should be given with ease without much documentation. All the banks must provide loans against shares. ? Fair dealing with the customers. More contribution from the employee of the bank.The staff Should be co-operative, friendly and must be capable of understanding the problems of customers ? Internet banking facility must be made available in all the banks. ? P rompt dealing with permanent customers and speedy transaction without harassing the customers ? Each section of every bank should be computerized even in rural areas also. ? Real time gross settlement can play a very important role. ? More ATM coverage should be provided for the convenience of the customers. ? No limit on cash withdrawls on ATM cards. ? The bank should bring out new schemes at time-to-time so that more people can be attracted. Even some gifts and prizes may be offered to the customers for their retention. 24 hours banking should be induced so as to facilitate the customers who may not have a free time in the daytime. It will help in facing the competition more effectively. ? The charges for saving account opening are high, so they should also be reduced. ? Customers generally complain that full knowledge is not granted to them. Thus the bank should properly disclose the features of the product and services to the customers. Moreover door to door services can also be introduced by bank. ? The need of the customer should properly be understood so that customer feels satisfied. The relationship value should be maintained. ? The branch should promote cooperation and coordination among employees which help them in efficient working. Maintenance of proper hierarchy should be done. A good hierarchy set up can ensure better results with in the bank. Banking sector is improving by leaps but still it needs to be improved. Proper and efficient relationship staffs having knowledge for one stop banking, customer friendly atmosphere, and better rate of interest are need of the hour. the concept of privatization has overall improved the services in all the banks. Home banking will be order of the day. Recommendations For Public Sector Banks: †¢ Bank staff should be customer friendly and highly motivated to serve the normal customer. †¢ As far as possible, banks should reduce its documentation process while providing loans. Computerization should be done in banks at all level and the operators should de properly trained. †¢ Token system should be induced so as to minimize the waiting lines in the banks. †¢ Proper ambience in the banks can develop a healthy working culture. †¢ Quick services should be provided. For Private sector Banks †¢ 24 hours banking should be induced so as to facilitate the customers who may not have free time in the day time. It will help in facing the competition more effectively. †¢ More ATM coverage should be provided for the convenience of the customers. †¢ Customer care services should be provided by banks. CONCLUSIONThe customers now days are not only exposed of what type of service is being provided by banks in India but in the world as a whole. They expect much more than what is actually being provided. So the new coming banking sector has to provide and cater to all the needs of the customers otherwise it is difficult to survive in the competition coming up. They no t only expect the safety of money but also best ways to invest that money which need needs to be fulfilled. Banks need to have a better outlook towards to actually what customers are requiring. Entries of the private sector banks have made the competition tougher. If a bank is not functioning properly it is being closed. So it is difficult to face these types of conditions.Here a simple philosophy can work that customers are God and we need to follow this to survive and serve better. The banking sector is poised for explosive growth. In this, scenario, it is imperative that banks adopt technology at an aggressive Pace, if they wish to remain competitive. Mani Mamallan makes a case for banks to outsource their technology infrastructure requirement, thus enabling early adoption and increased efficiencies. In the prevailing scenario, a number of banks have adopt a new deployment strategy of infrastructure outsourcing, to lower the cost of service channels. As a result, other banks too will need to align their reinvented business models. The required changes at both the business and technology levels are enormous.In a highly competitive banking markets, early adopters are profiting from increased efficiencies. BIBLIOGRAPHY BOOKS: ? Kothari C. R. (1990) Research Methodology: Method and Techniques; Wishva Prakashan, New Delhi. ? Bodie. Z, Kane. A & Mracus. J : Essentials of Investments. ? Prof. E Gordon & Dr. K. Natrajan â€Å"Banking Theory Law and Practice†. ? â€Å"Indian financial System & Commercial Banking† by Khan Masood Ahmed ? â€Å"Banking in India† by P. N. Varshney WEBSITES: ? www. centurionbop. co. in ? www. pnbindia. com ? www. statebankofindia. com ? www. icicibank. com ? www. rbi. org. in ? www. iba. org. in ? www. knowledgestom. com ? www. igniter. com BROACHERS & PAMPHLETS Broachers and pamphlets of Saving A/c QUESTIONNAIRE â€Å"Comparative Study on public and private sector banks† Dear customer, We are the students of C. T. I. E. M. T. Shahpur, Jalandhar. We are undergoing the project entitled named â€Å"Comparative Study on public and Private sector banks† So by filling this questionnaire please helps us in completing our project. Q1. Which Sector bank do you have your account? Public (Private( Both ( Q2. In which bank do you have your Account? 1. 2. 3. 4. Q3. Which type of account do you have in the bank? Saving ( Current ( Demat ( F. D ( Salary (Q4 In Case you have yours Account in more than one a Bank which one is your most preferred bank (Give only one bank) Q5. Rank the selection criteria for opening account with bank? Brand Image (Services ( Location ( Charges ( Q6. Kindly rank the reasons for yours preference in this particular bank? Quick and fast services (Location ( Friendly Behavior ( Reliability ( Q7. Which facilities are you availing at your bank? Atm/Debit card ( Credit card ( Insurance ( Mobile Banking ( Q8. How often do you use debit card to shop? Occasionally(Never( Q9. How much Satisfied are you with your bank’s overall performance ? Excellent(Very Good(Good ( Q10. Any Specific services you expect from your bank ? Q11. If an option is given to you, would you like to shift from the present Bank? Yes ( No ( Q12. Do you face any problem regarding the services provided by your preferred bank? If Yes Q13. Would you like to give any suggestions for the better functioning of banks in these sectors? Public Sector Private sector 16. Any other suggestions please specify ? ____________________________________________________________ ____________________________________________________________ Thanks for your valuable time given to us .We assure you that the information provided by you will remain confidential. Thanks for your co-operation. PERSONAL DETAILS. NAME-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ AG E-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ GENDER-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. EDUCATION-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ADDRESS-†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. PHONE NO. -†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦

Intelligence Community Essay Example | Topics and Well Written Essays - 750 words

Intelligence Community - Essay Example Threats such as terrorism are not easy to tackle and it has forced intelligence agencies to invest heavily in new technology as well as create more sophisticated methods of spying on potential adversaries. The rise of al Qaeda and its affiliate organizations has created a situation where it has become essential for the intelligence community to utilize all the resources available to it to ensure that this threat is either neutralized or destroyed. The intelligence community after the Cold War has had to face adversaries who are more numerous than during the Soviet era and this has made it imperative for there to be changes in the way that the various agencies within it operate. For example, during the Soviet era, it was common practice for the various intelligence agencies not to share information with each other; each of them attempting to ensure that what they considered to be their jurisdiction was jealously guarded.1 The rise of the terrorist threat on the United States, especial ly after the 9/11 attacks, changed all that as it led to the realization of the need to be interagency cooperation to prevent such an event from ever taking place again. In recent years, there have developed fusion centers whose main purpose is to ensure that all the information, concerning potential threats, that has been collected by the various agencies is shared in a common database.2 This is a phenomenon which would have been considered strange during the Cold War as each agency in the period attempted to keep all the information that it gathered a closely guarded secret, not to be shared with rival agencies. During the Cold War, the main means of intelligence gathering was either through direct spying, the use of double agents, or through the use of sleeper agents. This form of spying was extremely risky for those individuals involved because it created a situation where, if caught, they were likely to either be killed, or put on display to the embarrassment of their home nati on. The modern form of intelligence gathering, however, aims at preventing such incidents as much as possible and this is based on the fact that there is the use of advanced technology to cover those areas which are highly sensitive. The use of the new forms of intelligence gathering technology has ensured that the need for field agents has become minimal; their being required only during the most crucial of missions. The use of evermore sophisticated intelligence gathering technology has created a situation where it has become much easier to gather intelligence on any target around the globe.3 All the potential threats to the nation are often on the radar of the intelligence agencies, and one way or the other; they are more often than not found out and eliminated. The use of the drone technology has enabled the swift identification, targeting, and elimination of threats to national security anywhere in the world, thus creating more efficiency when protecting the interests of the Un ited States. When compared to the Cold War era, it can be said that the status of the intelligence community has changed for the better since it has seen the development of better cooperation between the various intelligence agencies. There has developed the realization that the cooperation betwe

Personal Development Planning (PDP) Assignmant Essay - 1

Personal Development Planning (PDP) Assignmant - Essay Example After completing the thirty two questions on line, I received feedback indicating that I should seek further assistance with time-management, concentration, note-taking skills, test preparation and test taking skills and writing skills. Thinking about this I wrote up a personal SWOT analysis with the aim of trying to find out exactly where I was falling short and where I needed to improve. I found a downloadable example from Bristol Business School, belonging to the University of Western England, which helped me with the questions I should ask myself. I found it very difficult to determine my strengths except that I think I am imaginative and very personable at a social level. My weaknesses however, were easier to determine. I know I have trouble with writing, especially long assignments or reports - this PDP assignment is not too difficult because it is broken into different parts. I am very disorganized and never seem to have enough time to finish my assignments on time or have enough time to review the day's or week's lessons. My performance in seminars is not good enough because I am not properly prepared nor positively alert or motivated. I also worry a lot about whether or not I can finish everything and whet her or not I will pass. The main opportunities I could think of were gaining a good job in a good company after graduation and making my family happy by studying hard and graduating. Threats were easier to think about. The biggest threat, gaining a qualification, is obviously dependent solely on me and relates to my weaknesses. Only I can fix things but I believe I have the strength to overcome my weaknesses and prevent them from stopping me taking advantages of my opportunities. At least now I have thought about my strengths and weaknesses and understand that I need to develop in the following areas: time-management, applying myself to study by acquiring appropriate study habits and learning strategies and determining clear goals and objectives. Next I completed a simplified version of a learning approaches questionnaire (based on Approaches to Study Inventory (Tait & Entwistle 1996) and provided by Bristol Business School.Results indicated that I had a surface/passive approach to learning and that I tended to reproduce information and tried to memorize subject matter rather than delving further or seeking to extend that information; that I kept closely to the syllabus provided by the lecturers and did not follow up interest of my own, and that although I really tried and wanted to pass in order to gain a qualification, sometimes I did not do so well.At this point I wanted to know more, so because learning styles is one component of this PDP assignment, I decided to spend time researching learning styles and strategies. I wanted to take the first step in the challenge of changing from a surface learner (not questioning) to a deep learner, and find out more about what learning styles and strategies were, before determining w hich best suited me. (Refer to essay below on Learning Styles.) My second step was to find out more about time-management, not only because it was a component of this PDP assignment but also because I obviously needed to improve this skill. Again, I began with research in the area to acquire as much information as possible, from which I could then develop the most appropriate

Legal Research Paper Example | Topics and Well Written Essays - 2000 words

Legal - Research Paper Example Their operations and business may be similar to that of companies, but the in-depth details differ with a great degree (Derek). The first regulation in the operation is the separation between the corporation and its owners. Unlike other forms of business operations, companies are separate legal entities from their owners (Franklin). The limited liability clause covers this. This entails the extent to which a person may be called upon to pay to the assets and liabilities of the company during winding up of the company operations. The clause stipulates that the owners of the business cannot be accountable for any action of the business; therefore, companies operate as legal persons. This means that they can litigate or be litigated in a court of law (Derek). During formation of companies, the law stipulates that the company should have a minimum of 2 members and a maximum of 50 members. The members of the company are the owners who contribute the start-up capital or share capital. Members do not own the company property individually or correctively. The members of the company have no duty in the daily operations of the company. The day-to-day operations of the company are overseen by the company’s board of directors. Once the company is incorporated, the ultra vires limits the company’s powers and prevents it from changing the objects under the memorandum (Franklin). Company law regulates the way a company chooses it business name. Businesses are mandated by law to select a name that does not contradicts its business or misleading as per to the business it operates in. The company’s name should not suggest illegitimacy or should not contain prohibited clauses. For instance, companies in the United States are not allowed to contain the word â€Å"Federal† in their company name (James &Thomas). Those wishing to start a company are required to check with the registrar of companies

Mongol People Essay Example | Topics and Well Written Essays - 1000 words

Mongol People - Essay Example The culture of the Mongol allows them to marry off their daughters to other clans and the parents were the ones to arrange for the marriage. The parents always ask for gifts before the wedding and during the wedding, the Buddhist seek heavenly protection by reading the scripture (Newworldencyclopedia.org). The Mongolians are also singing communities who like to sing echoing songs. The Mongol people also practice dancing. The saber, Ordos and Andai dances are famous around the world.The Mongol people are governed by their imperial court of dynasty. The rulers inflict punishment on the wrong doers. The punishment was through possession of the herds of the wrong doer and the repossession of the lands they own.The Mongol people are also good at writing and translation skills. Most of the grammar books, dictionaries and translated history books about Mongolia were done by the Mongol people themselves (Newworldencyclopedia.org).ReligionMongolians main religion is Lamaism, the yellow sect o f the Buddhism. Shamanism was the earlier main religion, but recently Lamaism is considered their main religion because it pushed the male Mongols to be monks than the warriors in earlier periods. During the period of conversion to Lamaism, every family is supposed to provide one son to be raised to be a lama.Medicine and health careMongols have been using acupuncture, massages, and herbal medicine to treat most of the diseases among their people. Kublai Khan was born in the year 1912 in Mongolia in the country of china.

Article Review 2 Case Study Example | Topics and Well Written Essays - 1500 words

Article Review 2 - Case Study Example 19% of children had severe autism, 36% were moderately autistic and 43% showed symptoms of autism. 67% of children were 12 years or younger. 80% of the children were male. Questionnaires were used to get the Peruvian parents’ stress profiles which were translated in Spanish for easy understanding. The t-test was used for analyzing data. Research findings: `Research revealed that parents for children with autism were more stressed than those for children with no disabilities. The parents for autistic children with cognitive impairment and life span care were highly stressed. Security and safety were the main reasons for children as they could not be left alone and required constant looking after. Moreover, there was huge concern for their future welfare when parents would be no more. Taking the income group as independent variable, it was also found that financial aspect was not very relevant for parents from middle and high income group. But it was a critical factor for parent s belonging to low income group. They were considerably more worried because they could not afford care services for their children with autism. The children required specialized medical care and skill which was not easily accessible due to financial constraints. Stated implications by investigator(s): The study has important implications as it focuses on difficulties and anxieties faced by parents, caregivers and family. The plethora of problems like decreased efficacy, increased stress and other health related issues have negative impact on the autistic child and may even reduce or even nullify positive interventions. The major implications of the study revealed that stress had adverse impact on the overall development of children with autism. It significantly changed the behavior of the parents towards their autistic children which increased the potential for negative development outcome as against those parents’ behavior who were less stressed out. This was important beca use behavioral shortcomings of parents may also be reflected in the behavior of autistic child who could become more agitated and violent, thus endangering his/her own safety along with that of others. Bringing up of autistic children is onerous experience for parents, families and caregivers. It was also deduced that if the specialized services are accessible either free or at reduced cost to low income group parents of autistic children, they have better chance of gaining employment and meeting their needs as well as the needs of their children, especially autistic children. Full day care services will allow parents with more opportunities for employment and give them time for completing household and other important chores which was hitherto used in caring for their autistic children. This would reduce their stress level and help them to focus on the needs of their children with autism. Moreover, with local care centers, travel time would be significantly reduced thereby ensuring better care for autistic children. The self efficacy of parents therefore, emerges as key issue for improving and improvising the care services for autistic children. The cognitive and adaptive limitations of the autistic children were crucial issue for parents, family and caregivers as they significantly limit their ability for independent living. The fact they require some

The Concept of Risk in Diffirent Project Management Approaches Essay

The Concept of Risk in Diffirent Project Management Approaches - Essay Example If we talk about the risk management in agile (Scum) software project management, it basically allows us to deal with risks on the daily basis. For instance, till the end of a day we identify and record the project risks. On the other hand, PRINCE2 goes beyond the definition of risk as it divides the risk into two categories on the basis of their positive or negative consequences. These two categories can be threat and opportunity. In this scenario, a threat could be an uncertain activity or action which if it occurs can cause negative effect on the project’s likelihood of achieving its objectives. On the other hand, an opportunity is an event if it takes place can cause a favorable and advantageous effect on the project likelihood of achieving its objectives (Brady, 2009; Rehman et al., 2010; TutorialsPoint, 2012). However, in this paper we will consider the risk as a threat. In addition, risk management is an essential element of both the Agile (scrum) and Prince2 project ma nagement approaches. This paper will discuss the concept of risk from the perspective of Prince2 and Scrum project management approaches. ... According to this attribute, risk may or may not take place; in other words, we are not 100% sure about the occurrence of possible risks. On the other hand, another attribute is acknowledged as â€Å"loss†. According to this attribute, the risk turns into a certainty, unnecessary outcome or losses can take place. Hence, while evaluating project risks, it is necessary to assess the degree of loss and the level of improbability associated with each risk (Pressman, 2001, p.146; Kerzner, 2006, p.743). In addition, risk management is the process of identifying, measuring, and managing what might go in the wrong way into a project before it turns out to be a danger to the successful completion of the project or the implementation of a software application. Moreover, risk management is a very important skill to manage a project successfully (Turban et al., 2005, p.712; Whitten et al., 2000, p.83). According to (Murthi, 2002), large software systems cannot be developed without facing a wide variety of risks. In this scenario, a report published by â€Å"The Standish Group† with the name of "CHAOS: A Recipe for Success," shows that only less than 30% of all software development projects are within budget and on time as well as fulfil all their indented requirements. On the other hand, more than 70% either fail or do not fulfil software development goals. Additionally, these facts are frightening in a cost-cutting measure where software systems play a significant role in fact they can make or break the organization (Murthi, 2002). In this paper, we will use the approach of identifying, measuring, and managing what might go in the wrong way into a project before it becomes problem for the successful completion of a project. Concept of Risk in Prince2 Project Management

Comparison Essay Example | Topics and Well Written Essays - 1000 words - 2

Comparison - Essay Example Similarities Irrespective of whether communication is in-person or electronic, it consists of some basic elements that ensure the transfer of information. Both in-person and electronic communication therefore follows an outline, with specific elements of the communication process. The first element is the piece of information to be transferred as it forms the basis of communication. Further, there must be a sender. This party has the piece of information and wishes to transfer it to another party. The sender then uses an encoding process to disseminate the message in a form that can be understood by the receiver. The encoded information is then transmitted from the sender’s location to the recipient’s location. Once the receiver gets the information in its encoded form, he or she decodes the message into an understanding that generates reaction to the received message. Such a reaction facilitates a response to the sender to complete the communication process. The commun ication process, whether in in-person or electronic is also subject to noise in the transmission channel that develops barriers between the sender and the receiver. Electronic communication also has variety of features that corresponds to those of the different types of in-person communication. This is because it incorporates a majority of characteristics of in person communication elements. ... Incorporated voice applications have also been developed to allow for electronic voice communication. An example is using ‘skype’. This approach corresponds to a number of voice based in-person communication approaches with particular similarity to telephone and mobile phone calls. In both cases, the sender disseminates information and receives an immediate response through a dual line oral communication. Similarly, application of audio visual devices to electronic communication has establish its similarity to the interactive face to face in-person communication in which parties to a communication both hear and see one another during a communication process. The similarity compares meeting based communication in face-to-face communication to video conferencing in electronic communication. Both of the approaches offer an interactive forum in which parties to the communication can be organized into a discussion forum. These features identify electronic communication as a c omprehensive approach that combines different features of in-person communication towards application of a multipurpose communication method that can fit into different applications. Electronic communication and in-person communication also share a similarity in their ability to promote teamwork among members of a group. Based on the common features in both methods of communication, they link group members towards interpersonal communication and even interactions. As a result, they both develop interpersonal bonds and understanding that facilitates cohesion. This leads to focus on goals and a resultant corporation towards building teamwork. The features and functionalities of in-person communication and electronic communication also identify a

Technology-HSBC Case Study Essay Example for Free

Technology-HSBC Case Study Essay How has the company chosen to improve its knowledge of customers and therefore its decision making? Analyze the management, organization, and technology dimensions of the solution. HSBC, as with other banks, took advantage of many poor consumers looking to own their own home. These consumers had low credit scores, are in default or have low income, which means there was a higher probability of them not paying back the loan. These banks took advantage by not explaining the entire process of how the amount will double and the interest rate will become adjustable after a couple years. This led to many subprime mortgage loan holders to not meet payments and eventually lose their home. Because of this HSBC was one of the first banks â€Å"announce a billion dollar write-off linked to its exposure to subprime mortgages. † (Modell) HSBC improved one way by advancing their technology. Data is collected and sent to one team of specialized individuals who make sure that all is correct for approval. HSBC also implemented a new process using Experian-Scorex decision support software. This new software will help HSBC with their decision making process. It â€Å"allows HSBC to identify the value of each customer and create tailored product packages. † (Finextra) George Lennox, a senior manager at HSBC, stated â€Å"Strategy Management will undoubtedly become an integral part of our business and we expect that it will make more than 50 billion customer decisions annually for us as we roll it out across our global business. (Finextra) They have also decided that customer satisfaction and building trust is more important than profit. Did HSBC choose the best solution? Explain your answer. HSBC chose a great solution. They allowed almost anyone to obtain a loan as long as they met some requirements. By using the new strategy management software they implemented, they will be able to make sure that each customer looking for services are eligible and able to keep the services. Explore HSBC . Does this Web site provide opportunities for HSBC to gather data about its customers? Describe the customer data collected at the Web site and explain how that data can be used to improve its business performance. Would you redesign the Web site to increase interactions with customers? I explored HSBCPremier, where they gave lots of information on how I can save money for my family, for example a college fund or saving for my child’s first car. HSBC requests lots of information mostly general such as name, date of birth, social security number and driver’s license number. But they also request other information such as any current loans or mortgages, and for instant funding you need to provide them with your current banking information. By collecting all this information, it gives HSBC the right tools to be able to assist customers with great satisfaction. HSBC has requirements linked to all their services. They want to service customers in the best way so they use the information collected to give customers the best service. I would not redesign the entire website. It seems pretty clear to me that not only do they give much information on each product and service they provide, but you are able to contact a representative who will clearly interpret anything you don’t understand. But one feature that I would add is in the â€Å"contact us† section, an option to chat with a live operator. This will allow customers to chat online with a representative about services without having to call on phone or go to a location. HSBC had decision making tools in place prior to the subprime meltdown. Why would you think they missed or ignored the potential catastrophic consequences that became reality? What added value would the new Experian-Scorex software provide? HSBC was looking to expand in the U. S. With the rise of consumers looking to become homeowners, as a business your first instinct is to get in the game and increase profits. I believe that HSBC only wanted to grow and help customers, but due to not being psychics and knowing that the market would crash and people would lose jobs and not be able to pay back loans, they lost in that game. When you have lenders not collecting the right information on consumers to help predict if they are able to pay the loan or not and not explaining the loan correctly to consumers, it causes conflicts. Consumers did not really understand the loans; they just knew they would become homeowners. Subprime loans are the worst, to me. Who wants to pay back 10 times what their home is actually worth? The new Experian-Scorex software will provide great value to HSBC’s strategy management. This new system will collect information and will help HSBC in their credit decisions. â€Å"George Lennox, Senior Manager, Group Credit and Risk at HSBC: As one of the worlds leading financial organizations, it is important to us that we make use of leading edge decision support technology. † (Experian) By implementing this new technology, HSBC will better assist their new and existing customers.