Thursday, October 31, 2019

Internet Marketing Essay Example | Topics and Well Written Essays - 3000 words

Internet Marketing - Essay Example From the discussion it is clear that  the internet is a unique medium of marketing because of the interactive nature and thus it is able to not only provide instant responses but also elicit instant responses from clients and audience in general. Furthermore, the hastily embrace of internet has been as a result of the alleged wider scope of the internet marketing. The scope is wider because it involves both digital media such as e-mail and the wireless media. It is also important to note the fact that internet marketing also involves management of customer data which is digital and also an electronic customer relationship management (ECRM) system.  This paper discusses that internet marketing continues to be popular because it combines the dual potential of internet for marketing; the creativity and technical aspects. These two greatly enhance the aspects of marketing such as the development of design, advertisement and sale. Internet marketing engages the customers through vario us stages such as SEM (search engine marketing), Banner adverts within various popular websites such as face book, marketing via e-mail, SEO (search engine optimization) and web 2.0 strategies. These various stages of customer engagement afford a wider audience and have a scope component as well.  When one talks of internet marketing, a business model within which the internet marketing is conducted is implied. Internet marketing is related to a number of business models. Some of these models include e-commerce, affiliate marketing and publishing among others. Most of these models are based on the particular needs of both the individual customer and needs of the company or organisation that launches the internet marketing campaign. As far as the e-commerce model is concerned (model that is embraced by most organisations that carry out internet marketing) the goods and/or services are sold straight to the customers or other business organisations without going through intermediarie s. This approach is able to afford the internet marketing a one-to-one approach. In this one-to-one internet marketing approach, the targeted consumer is usually browsing alone and thus the advertisement message is able to reach him/her personally. This approach is mostly used along with what is popularly known as search marketing. Search marketing is an internet marketing scenario in which the advertisements are based on the search keywords that are entered by the person browsing the internet (Hanson, 1999: pp245-255). 2.1 Advantages of Internet Marketing Internet marketing is relatively cheaper as compared to other offline media used for marketing. The cost effectiveness is measured in terms of the cost to target audience ratio. Actually, at a lower cost, internet marketing is able to reach a wider audience than the other offline marketing would achieve at a similar

Tuesday, October 29, 2019

Supply Chain Management Essay Example | Topics and Well Written Essays - 2000 words

Supply Chain Management - Essay Example As per the franchise agreement, the Corporation owns most properties where McDonald's is located. The UK business model is different, in that fewer than 30% of restaurants are franchised, with the majority under the ownership of the company. McDonald's trains its franchisees and others at Hamburger University in Oak Brook, Illinois. Nearly one in eight workers in the US has worked with McDonald's at one point in their lives. [1] Eric Schlosser's. McDonald's is also the largest private operator of playgrounds in the country, apart from being the single biggest purchaser of pork, beef, potatoes, and apples. The meats that the company deploys vary with the culture of the country. McDonald's is unique in several ways to its competitors as regards the way it runs its business. It has not always been smooth sailing though, for the most famous fast food joint in the world. McDonald's has been targeted by criticism for allegations of manipulation of entry-level workers, , ecological damage generated by industrial processing of its products, selling far from healthy food, producing packaging waste, exploitative and controversial advertising and partaking in the suffering of livestock. McDonald's' tendency towards promoting high-calorie foods like French fries has not helped either. Also, several McDonald's restaurants are alleged to have used substitute meats, like wildebeest and horse. While these allegations are serious, some argue that it is simply paying the price for being famous. McDonald's Food supply chain McDonald's puts food safety at the very top of their agenda. This is not surprising for a company that does billions of sales revenue annually. This kind of ethics promotes good business as well. At the heart of the McDonald's operation is a quality assurance and supplier food safety programs and is seen as top corporate priority. Suppliers and franchisees have to follow meticulous quality and safety guidelines if they want to sustain their association with McDonald's. It is a high-profile business whose success is founded on good customer experience. Thus, setting clear food safety and quality expectations is the best way to make the business work. [2] Sarah Fister Gale "Food safety is a never-ending process for McDonald's, from raw materials, through the facilities and distribution centers, and all the way to the restaurants. It's a top priority at McDonald's. It's a fundamental standard of our business and our heritage, and will never be compromised." - Lamont Rumbers, director of quality systems for McDonald's USA. [2] For sandwich buns alone McDonald's has tie-ups with more than 20 bakeries all

Sunday, October 27, 2019

Blue Dart Express Limited Management Essay

Blue Dart Express Limited Management Essay On a late summer afternoon in May 2012, Ketan Kulkarni, Vice President and Head of Blue Darts Marketing, Corporate Communication Sustainability division, was working on the proposed future plans of marketing strategy in his plush office in Blue Darts head office in Mumbai. He had  a meeting scheduled with Tulsi Mirchandaney, Managing Director and Accountable Manager for Blue Dart Aviation to discuss the companys plans to address the intense competition and growing challenges of the express industry. Looking outside through the clear windowpanes, Ketan thought about the Blue Darts remarkable journey. Blue Dart was the leading express company in India, engaged in door to door pick up and distribution of packages, documents, and shipments in India and overseas. In its first decade since its inception in 1983, Blue Dart became the dominant player in the courier industry and in the next decade it surpassed all the competition and became South Asias premier number one express company in air and integrated transportation, distribution and logistics. In India, Blue Dart was one of the very few companies providing an array of services in air express (both domestic and international through DHL), air freight, ground and charters. It was a one stop solution for any logistical requirement. Blue Dart enjoyed a 45.9% market share and gained a significant increase in both, volumes and value. In the ground segment, the company garnered a market share of 12.4%. Blue Dart not only offered secure and reliable delivery of consignments, but also managed to deliver impressively on the financial front with the help of its widespread infrastructure network and aggressive growth strategies. Rs.10 billion in annual revenues was a remarkable landmark for any logistics company. Blue Dart managed better, leaping over the 11-digit barrier to record Rs. 14.89 billion in top line during FY2011. The company was established with a vision to be the best and set the pace in the express air and integrated transportation and distribution industry, with a business and human conscience. Through high quality and professional service, and use of sophisticated technology, the company was committed to meet and exceed customer and stakeholder expectations profitably. With a dedicated air and ground network optimized by cutting-edge technology, Blue Darts core competence was in the business of superior express delivery services, maintaining reliability levels of 99.96%. A people-first company, Blue Dart continued to deliver value to its stakeholders through its people philosophy and corporate governance, based on distinctive customer service, business ethics, accountability and profitability. The marketing strategies were of utmost importance for any company to become and to remain a market leader. Tulsi Mirchandaney summed up the marketing strategy of Blue Dart in India and outside in just five words Care Customer Addition, Retention Empathy. However, against the backdrop of volatile economic scenario of 2011, global economic crisis, and companys declining profits in 2012, the company needed strong and aggressive marketing strategies to hold and further strengthen its market leadership position. Ketan came out of his reverie as thought of the future marketing strategies and wondered whether the will be enough to meet 2012s target, especially when the profits declined by around 20% in the first quarter of 2012. With a cup of strong coffee in one hand, he started thinking about how to make Blue Dart grow faster and which marketing plans the company should implement to handle the multiple challenges. Company History In November 1983, three young entrepreneurs, Clyde Cooper, Tushar Jani and Kushroo Dubash identified tremendous opportunities in Indias expanding exports market and came up with an idea of delivering small packages and samples. On that date, Blue Dart was established in a space of 200 square feet under a staircase, with a capital of Rs. 30,000. Grit, determination and hard work propelled the young company from sorting and delivering a few dozen packages outside Mumbai airport on that first night, to handling nearly 200,000 shipments each day. In a study conducted by Dhristi Strategic Research Services in 2007, Blue Dart emerged as one of the strongest brands in India with amongst the highest top of mind recall. In its early days, Blue Dart forged ties with Gelco Express International, UK to introduce an international air package express service from India and thus enhance the value offered to its customers. In 1993, foreseeing the potential in India, Blue Dart decided to shift focus from international to domestic service. It went on to become the first Indian courier company to conceptualise domestic on-board couriers with a guaranteed 10:30 am delivery to major metros. In 1994, the company went public with an IPO of 2.55 million shares. In the same year Blue Dart launched its multi-modal, premium package delivery service DartApexà ¢Ã¢â‚¬Å¾Ã‚ ¢ (Air Package Express) and COSMATIIà ¢Ã¢â‚¬Å¾Ã‚ ¢, an advanced tracking and ERP system that redefined the industry. In that year, too, Blue Dart Aviation, a 100% subsidiary of Blue Dart Express, was incorporated and became the first private company to receive government approval for the operation of cargo aircraft in the country. In 1995, Blue Dart Aviation acquired two B737 aircraft and developed SMART (Space Management Allocation Reservations and Tracking), the first cargo reservations systems in India. The following year, Blue Dart launched the first jet express airline and also became the first express company to receive an ISO: 9001 Certification. 1995 was also momentous because in that year Blue Dart crossed Rs. 100 crore (US$ 25 million) in turnover for the first time. 1997 witnessed the launch of domestic charter operations and the signing of interline agreements with international airlines for distribution of bonded cargo within Blue Darts network. Today, these have extended to 26 operators and include bonded warehousing and transhipment facilities. In 1998, the company developed Indias first Load and Trim software for its aircraft, reducing handling time by 80%. In 1999, Blue Dart moved to its state-of-the art administrative, technology and operations Super hub and Headquarters, the Blue Dart Centre, in Mumbai. In 2001, a third Boeing 737 was added to the Blue Dart fleet. A year later, Blue Dart entered into a sales alliance with global leader DHL Express Worldwide. Today, DHL owns 81.03% stake in the company. In 2002, Blue Dart was re-certified to the new global ISO 9001 2000 standards for Design, management and operations of countrywide express transportation and distribution service within the Indian subcontinent and to international destinations serviced through multinational express companies. Blue Dart was one of the few Indian companies to get this certification. Blue Dart signed a pioneering alliance with the DHL Worldwide Express, the leading international air express company. Blue Dart also crossed 1,00,000 shipments per day. The fourth aircraft joined the fleet in 2004 and Blue Dart became the first private operator in India to receive approval from the Director General of Civil Aviation (DGCA) for undertaking heavy maintenance D-checks on its aircraft. Two B757 freighters the first in the Indian skies joined the Blue Dart fleet in 2006. In an effort to fortify its unique capability of offering the entire gamut of end-to end distribution solutions, Blue Dart launched its ground express service Dart Surface Line in September 2007 and inducted the third B757 freighter. In 2008 Blue Dart completed 25 years of facilitating trade and commerce. The land mark year also saw the launch of twenty-five new products and services to its customers. By 2011, Blue Darts infrastructure comprised a fleet of three Boeing 737 and four Boeing 757 freighters operating each night to the 7 main metros in India and offering a revenue payload of over 370 tonnes per night. It owned a flotilla of over 6,272 vehicles, 365 facilities including 7 aviation hubs and bonded warehouses, 56 domestic warehouses and 12 express hubs delivering excellence. [1] Current Operations Blue Dart offered express air and integrated transportation, distribution and logistics services and as part of the DHL Group accessed the largest and most comprehensive express and logistics network worldwide. It offered an entire spectrum of distribution services including international air express, freight forwarding, supply chain solutions and customs clearance. Blue Dart was the largest player in the domestic segment of documents and non-documents with 26 per cent market share in terms of tonnage. In terms of overall (domestic plus overseas) market share, it was the largest express company in India with a share of about 45.9 per cent. The company had a turnover of Rs 14.89 billion in 2011 and has had an annual growth rate of about 50 per cent while the industry growth rate has been hovering around 35 per cent. The company had showed a tremendous growth over the years (see Exhibit 1 and 2). The core function of Blue Dart was the physical transportation of a shipment from its origin to the destination which was performed by the operations department. The distribution system followed the hub-and-spoke concept, i.e., shipments picked up at a particular origin location were transported to the nearest hub, which in turn routed these shipments to the hub to which the destination location was attached. The destination hub routed the shipment to the specific destination location where the staff delivered the shipment to the consignee. (see Exhibit 3) Blue Dart offered secure and reliable delivery of consignments to more than 35,900 locations in India and to over 220 countries and territories worldwide through its integrated air support and ground network group company DHL Express. In 2011, Blue Dart operated through 1,342,677 sq. ft. of facilities and carried over 988.5 lacs domestic shipments and over 8 lacs international shipments weighing over 423,000 tonnes. Administratively, the company was organized into regional centers at six major cities namely, Ahmedabad, Mumbai, Delhi, Chennai, Bangalore, and Calcutta. Each regional center was responsible for a number of branch locations under which there were area locations. The company currently had around 7,800 employees. Each major branch had a team of operations personnel who managed the entire network, transportation and tracking of shipments. They also liaised with airline and transportation agencies and took care of scheduling out-bound couriers. Other responsibilities of the operations department included routing, sorting, security checking, fleet management, and customer billing. Commercial functions like finance and marketing were centralized at the head office in Mumbai. Its international out-bound gateways functioned at Dubai, Singapore, London, and Mumbai. The in-bound international gateway was at Mumbai which received packages from London, Frankfurt, Singapore, and Dubai. [1] -Company history was referenced from Blue Darts 19th annual report. The Express Industry Structure, Overview and Developments The express industry was a key enabler in facilitating trade and commerce because of the time-sensitive nature of most goods and the increasing demand for reliability, efficiency and speed. The Indian logistics industry was growing at a steady pace. The growth in this industry was largely driven by increase in trade, government policy reforms, increased spending on infrastructure, and the overall economic growth driven by the domestic consumption and growing affluence. The demand for express services was surging with each passing year and customer expectations had also risen tremendously. Today, the Indian express industry provided integrated, value-added, time-bound, door-to-door delivery of documents, parcels and merchandise. It supported industries such as electronics, telecommunication, IT, banking, retail, auto-components, textiles and apparels, gems and jewellery and pharmaceuticals. Moreover, with India recognized as an outsourcing destination, manufacturing sectors such as textiles, automobiles and pharmaceuticals were likely to witness increased activities in the medium to long term. In order to maintain competitiveness, companies operating in these industries were expected to outsource their logistics requirements to third-party logistics service providers and concentrate on their core-competency of manufacturing and marketing. Furthermore, the opening up of banking, insurance, telecom and retail sectors had increased the demand for value-added express services in India, as these were major user industries. The courier industry in India has expanded its horizon to provide a wider range of services. Whereas it started initially as a service provider for the document and samples demand of industry, it is now viewed as an important part of the supply chain for industries, which demand speed, reliability, security and just-in-time distribution. Though this market is still in its infancy in India, it is growing. Tulsi Mirchandaney, Senior Vice President, Marketing and Projects According to Anil Khanna, Managing Director, Blue Dart, the growth in the Indian economy and the overall economic scenario, fuelled primarily by domestic consumption, was promising. The Indian economy was poised to record growth between 7 and 8 per cent in the financial year 2012. The Indian organised Express Market (a part of the overall logistics market) was about 4500 crores2 and expected to grow at a CAGR of 17%2. This included organised Air Express and organised Ground Express which for 2011 were estimated at 2000 crores2 and 2500 crores2 respectively. This in itself was a strong indicator of the potential of the express industry. However, the logistics industry in India still remained largely unorganised and fragmented. The industry faced several challenges like high logistics costs, inadequate infrastructure, capacity constraints, low usage of technology, complex tax laws, over regulation, policy issues and lack of skilled manpower. The need for the highest levels of efficiencies still existed. Competitive Edge: Building IT for Business Agility Blue Darts Information Technology (IT) infrastructure remained one of its key differentiators and enabler to values. Blue Dart was always in the forefront of technology and its technology innovations played a key role in the companys premium positioning and in bringing global standards to the Indian customers doorstep. 2 AT Kearney figures from Blue Darts 2011 Annual report Blue Dart became an important part of the supply chain of many companies by providing integrated services. Blue Darts in-house IT team constantly developed technology solutions over the past seventeen years. Such has been the ramifications of these offerings that more than 79% of Blue Darts regular customers used it actively. These Home grown innovations included COSMAT IIà ¢Ã¢â‚¬Å¾Ã‚ ¢ (the tracking and ERP system), TrackDartà ¢Ã¢â‚¬Å¾Ã‚ ¢ (monitoring shipment status), MailDartà ¢Ã¢â‚¬Å¾Ã‚ ¢ (tracking shipments over e-mail), InternetDartà ¢Ã¢â‚¬Å¾Ã‚ ¢ (memory bank for shipments), PackTrackà ¢Ã¢â‚¬Å¾Ã‚ ¢ (tracking software for medium and large customers), ShopTrackà ¢Ã¢â‚¬Å¾Ã‚ ¢ (tracking and CRM tool for e-business portals), ImageDartà ¢Ã¢â‚¬Å¾Ã‚ ¢ (online download of proof of delivery challans/documents, to speed up the customers bill process, waybill issuance capability, customer directory, data upload and download of tracking information). The company also provideed econom ical packaging that facilitates customers sending documents at a price that includes door-to-door delivery service within India. These innovation solutions enabled the weaving of thoughtful information management to the logistics business. With this advanced technology support Blue Dart delivered door-to-door to over 13,000 locations in the country with an in-house team of experts to handle inter-state regulatory requirements. Quality levels were at 99.95% and were monitored daily. Blue Darts IT infrastructure strengthened both its business and marketing strategies. Blue Darts Marketing Strategies In 2011, a combination of new product launches and tactical shift in focus across sectors helped Blue Dart register growth in spite of an overall slowdown in the economy. For instance, in order to lessen the impact of the slowdown in client verticals such as automobile and realty, it consciously improved its focus on sectors such as health sciences and the spare parts segment of the auto sector. It also built on its exposure to high-growth segments such as e-commerce and SMEs and high-growth potential Tier-II and III cities in 2011. These put together helped the company grow its revenues and profits by about 34 per cent and 42 per cent by the end of quarter 3 in 2011. On various other fronts the company provided multitude marketing strategies. Product Offerings A combination of the right product mix helped Blue Dart build strong brand loyalty over the years. Blue Dart offered a range of products and services that could be customised to address individual requirements. Blue Darts core business was domestic door-to-door and integrated (air and ground) express distribution. Each product has been developed with a customer centric approach. The products were proficiently supported by cutting-edge technologies. Blue Dart offered express, air freight, ocean freight, supply chain solutions, customs clearance, project handling, freight forwarding, and charters through its synergies with the three DHL Business Units DHL Express, DHL Global Forwarding and DHL Exel Supply Chain. Air Express segment included Time Definite Solutions (Domestic Priority 1030, Domestic Priority 1200, Dart Apex 1200) and Day Definite Solutions (Domestic Priority, Dart Apex, Dart Surfaceline). Packaging Solutions included Express Pallet, Smart Box Ground Express, Time Definite Delivery, etc. The company also offered Cargo Solutions like Airport to Airport, Interline and Charters besides offering Festive Solutions and discounted Student Solutions. A recent addition to Blue Darts product portfolio was Import Express. It was the only service of its kind in India and offered door-to-door facility for importing shipments from over 200 countries. Services Blue Dart presented a range of services: Domestic Priority a fast reliable service for non-commercial documents and non-documents. Dart Apex supported reliable commercial distribution and supply chain requirements. Dart Surface line a reliable and secure surface option, and an airport to airport option included charter of aircraft for large volumes and urgent shipments. (See Exhibit 4) Blue Dart also offered some of the best services such as free computerized proof of delivery, real time tracking, regulatory clearance and free pick up from the location of the customer. The most used features were real time tracking and Money Back Guarantee (MBG) offered on specific shipments. The express services offered domestic priority for non-commercial domestic documents and small packages under 32 kilos. Freight services included domestic, early morning airport-to-airport deliveries to the seven metros in India. Charters also offered carriage of urgent and large volumes to eighteen airports in India and four international airports in the region. Solutions like Temperature Controlled Logistics (TCL), Dart Surfaceline Plus, Point to Point (P2P) and a host of value added services like Demand Draft on Delivery (DOD), Freight on Demand (FOD), Freight on Value (FOV), Cash on Delivery (COD) etc. represented tailor made services for specific industry requirements. Blue Dart was in the process of rolling out several sector-specific, innovative products and services in a phased manner, in line with specific needs and requirements of different industries like BFSI, Pharmaceuticals, IT, Consumer Durables, FMCG, Automotive, Retail, Textiles, Telecommunications etc.. These products provided the much-required flexibility to the shipper and consignee. Pricing Though Blue Darts offerings were known to be reliable, these were offered at a very high price compared to that offered by competitors. In India, where huge section is of middle class buyers, this pricing strategy was awkward. However, Blue Dart maintained the view that for customers, aspects like service quality, consistency, responsiveness and reliability were of paramount importance because these dimensions directly impact their business outcomes. Blue Dart held the view that when customers experience optimal service with Blue Dart, they do not mind paying a premium for these products. Connecting with Customers In such a competitive industry, Blue Dart tried to differentiate itself from its competitors by establishing its core focus on strengthening customer relationship and on making more effective use of the 4800 plus vehicles as mobile touch points. Blue Dart always made a conscious effort to create a bond with its customers. Perhaps, because of this, the brand became synonymous with value, quality, speed, efficiency, responsiveness and service excellence. Blue Dart constantly rolled out promotions for its customers to keep them updated on our various offerings. Blue Dart successfully ran a loyalty programme Blue Points: Returns to provide customers value while making shipments through Blue Dart. As part of the its ONE-RETAIL focus, the company regularly ran a retail store promotion drive across the country. Company had a dedicated team of specialists who provided the expertise for customs as well as regulatory clearances at all States within the country, to support seamless service to the customer. Customers Growth Strategy Blue Darts strategy was to focus on existing customers to scale up existing relationship. There was also a special focus to select high potential clients by offering them a lot more than what Blue Dart has been traditionally offering them. This strategy was expected to not only lead to revenue enlargement, but also to give an army of loyal customers. Positioning Blue Darts positioned itself to offer a consistent, premium, standardized quality of service. Its competitive advantage was driven by its extensive and consummate domestic network which was linked by some of the most advanced communications systems. Blue Dart was focused on carrying packages as its prime business, rather than as a by-product of a passenger airline. Blue Dart also had a dedicated self-sustaining aviation system to support its services, with its own bonded warehouses, ground handling and maintenance capability. Blue Dart envisioned itself as a warehouse in the sky creating a niche segment in supply chains that demand critical deliveries, low inventories and reliable and timely distribution. Blue Dart was now strategically positioned as the market leader in the air express segment. It also had an aviation system with an in-house ground handling and maintenance capability with stringent security and quality norms. Blue Dart also invested extensively in technology for integration, data flow and customer software for greater customer convenience and efficiency. Promotion Blue Dart was not known to be aggressive advertiser, but as aggressive marketer. Blue Dart tried to focus on the total customer experience the brand tangibles such as the retail outlets (service counters), vehicles, signages, etc, as well as the intangibles at the customer contact point. The company emphasized that the personal touch was essential and thus has also strengthened the areas of customer care centres. Blue Darts promotion method was to create a strong emotional connect with customers, in order to achieve brand strength, saliency and equity. Even its TV commercials and print ads tried to connect emotionally with customers. Blue Darts prime communication vehicle was PR land direct mailers, with support from a large sales force across the country to directly engage the customer. New Areas for Business Growth and Expansion Blue Dart already had an aggressive market share plans which aimed to increase its market share both in air and ground express divisions. For this, Blue Dart would have to grow faster than the industry. Blue Dart already identified some growth levers. One of these was adding lot of new products. The company has been regularly introducing new products such as the latest Go Green carbon neutral service and it intends to continue. The other growth lever was the sectorial focus. There were certain sectors that do not get impacted by a slowdown sectors like health sciences and the spare parts segment of the auto sector. Demand for streamlined supply chains from the auto, pharma, hitech and retail sectors was expected to drive growth. Thus, Blue Dart was detecting opportunities and offering sector specific solutions, which had and would help in the overall growth strategy of the company. Third, Blue Dart was focussing on verticals which were high-growth verticals like e-commerce. The company also identified small and medium enterprises (SMEs) as another growth lever and efforts had been underway to tap this segment across industry verticals, aggressively. For a company, which has probably focussed more on our large customers, SMEs thus offered an tremendous opportunity. Finally, the company was looking at geographic expansion. It intended to reach out to those towns and cities where it currently did not have any presence. Also, prior to this, in smaller cities, the company was more focussed on the in-bound side. It then realised that a lot of these tier-II and tier-III cities had a lot of out-bound potential. These provided additional opportunity for business expansion. Blue Dart planned to continue to focus on transit time improvements, and strengthening channels to gain further market share. Looking ahead Blue Dart has been able to differentiate itself and achieved scalability due to its focus on technology right from the early stages of its business. It was reflected in the way the company moved its products, in a manner which was more cost-effective, more fuel-efficient and more environment friendly. However, Blue Dart Express net profit declined by 19.47% in the March 2012 quarter. Blue Dart faced the challenges of increase in fuel cost, inadequate infrastructure, and increasing competition. But of these the biggest challenges was Infrastructure of both air and surface. Space at airports, airside and city-side infrastructure were often inadequate. In addition, parking bays, air-side/city-side access and traffic congestion adversely impact costs as well as service quality. Air express companies were constrained by the sizes of the facilities at the airports, as they have remained the same while the loads have increased many folds. It was estimated that though 70% of the freight transportation in India was through roads, National Highways constitute merely 2% of the total road network in India. Fuel prices were also a concern. In an industry, where space was a highly perishable commodity, any disruption in services, due to either natural disasters or manufactured reasons, affects us adversely, as the days capacity inventory was lost forever. Ketan Kulkarni, Vice President and Head of Blue Darts Marketing, Corporate Communication Sustainability division In addition to above problems, Blue Dart also faced a tough competition from multiple courier service providers. (See Exhibit 5 and 6) Thus an aggressive business and marketing strategy was the need of the hour. How Blue Dart would rise to the occasion remained to be seen. With this thought, Ketan Kulkarni was wondering how Blue Dart can further differentiate itself and would remain a market leader in the coming years. Exhibit 1 Financial Summary of the last five years (Rupees in Lacs) (Source: Blue Darts 2011 Annual report) Particulars 2007 2008 2009 2010 2011 Particulars 2007 2008 2009 2010 2011 Income from Operations 80,872 97,446 90,523 1,14,741 1,48,960 Other Income 311 1,071 760 532 2,426 Total Income 81,183 98,517 91,283 1,15,273 1,51,386 Total Expenditure 68,083 84,935 80,150 99,324 1,31,338 Operating Profit 13,100 13,582 11,133 15,949 20,048 Interest (Expense) 40 50 55 1 0 Gross Profit 13,060 13,532 11,078 15,948 20,048 Depreciation 2,403 1,657 1,776 1,922 2,160 Profit Before Tax 10,657 11,875 9,302 14,026 17,888 Taxation 3,664 4,140 3,232 4,589 5,664 Profit After Tax 6,993 7,735 6,070 9,437 12,224 Equity 2,376 2,376 2,376 2,376 2,376 Reserves 29,354 36,811 42,605 51,765 63,438 Gross Fixed Assets 25,692 28,562 30,036 32,544 39,326 Net worth 31,730 39,188 44,981 54,141 65,814 Book Value 133.72 165.15 189.57 228.17 277.37 ROCE (In percentage) 37.13 33.63 22.24 28.3 29.83 Exhibit 2 Income and Profit trends from 2007 to 2011 Exhibit 3: Shipment Movement from Pick up to Destination Exhibit 4 Services by Blue Dart Domestic Priority 1030 A guaranteed door-to-door time definite delivery of shipments by air the next possible business day by 10:30 hours, targeted at time-critical business-to-business needs. Domestic Priority 1200 A guaranteed door-to-door time definite delivery of shipments by air the next possible business day by 12:00 hours, targeted at time-critical business-to-business needs. Dart Apex 1200 A guaranteed door-to-door time definite delivery of commercial shipments by Air that require regulatory clearances and specialized handling on the next possible business day by 12:00hrs, targeted at time-critical business-to-business needs. Dart Surfaceline Blue Darts premium ground express service provides economical, door-to-door ground distribution solutions. Smart Box A convenient door-to-door service for cargo in two sizes 10 kilos and 25 kilos, available on air and ground express modes Smart Truck An intelligent pick-up and delivery vehicle that combines a number of innovative technologies including a route planner. Exhibit 5 Competitors TNT Express: TNT Express is the key leader not only in the Indian market, but also in the international market in the sector of global express services. They ensure timely and safe delivery of parcels, freight and document

Friday, October 25, 2019

The Effects Of Anabolic Steroids :: essays research papers

The Effects of Anabolic Steroids   Ã‚  Ã‚  Ã‚  Ã‚  You've seen them, and you thought you knew what was going on. The muscle-heads at the gym, the all-star basketball player, the amazing offensive tackle, and the lightning fast swimmer. All of them used steroids, and you knew it. They were all unnaturally strong, and looked like gods. But what you could not see is the terrible side effects which come through the use of anabolic steroids. These powerful drugs have both positive and negative results from their use. Along with increased strength and size, users of steroids suffer from ailments like cancer, bad acne, hair loss, damaged organs and intense mood swings.   Ã‚  Ã‚  Ã‚  Ã‚  Anabolic steroids are a group of muscle building chemicals, which are synthetic versions of the male hormone, testosterone. Developed in 1935 they were prescribed to aid in muscle and tissue repair by those who had undergone surgery or had degenerative diseases. Now they are used by athletes and patients alike. But they are illegal to use if not prescribed by a physician, and have been banned by nearly all athletic organizations, both professional and amateur.   Ã‚  Ã‚  Ã‚  Ã‚  When you think of someone who uses steroids you typically picture someone who is massive, and whose muscle mass is very well defined. A picture comes to mind of the giant body builder, who is so big he can't touch his back because his biceps are in the way, but he can manage to bench press his car. The possible growth and development is amazing. With much less work necessary, the results can be astounding. Athletes can get bigger, stronger and faster, with less effort than previous. The limits of an athletes potential with steroids seem to be unbounded. These are the positive aspects to the use of steroids. One study showed that as much as ten pounds of lean muscle mass could be gained by a mature adult using steroids over a years period. The resulting size and strength increase would be greater more easily attained than without use of steroids.(Taylor pg 45) Also, the type of body structure that may males are looking for can be easily obtained through the use of steroids. Large pectoral muscles, as well and big biceps and a well defined stomach are what many teenage users are after. Society dictates what the current trends are, and our society has dictated that athletic looking men (and women) are in. But not everyone can be so fortunate to have a beautiful body with their given gene pool. So through the use of steroids, people can attain the wonderful body that they so desire. One ex-user commented that after he had used steroids and bulked up,

Thursday, October 24, 2019

Medical Marijuana and Its Uses and Effects

Hastings Center Report, 36(3), 19-22. Cone's credibility as a trustworthy author is indisputable, because of all of his accomplishments. He was a professor of anesthesiology at the University of Pennsylvania medical school, the chairman of the Society of Academic Anesthesiology, and of the Medical Society of the District of Columbia. Cone's formal article mainly focused on the lack of scientific evidence of the therapeutic use of marijuana, and how people were being prosecuted for using medical marijuana even though it was legal by state law.His purpose throughout was to motivate scientists to perform research and testing of medical marijuana. He began taking about the Supreme Court case of Gonzales v. Rich, which ruled that the production and use of home-grown marijuana can be criminality. Rich legally grew marijuana for her own medical use under Californians Proposition 21 5, but she was still prosecuted by the federal government. Cohen cleverly used Roach's example to show that me dical marijuana needs further testing to show the extent of its benefits.He manipulated the audience's emotions by describing Rich as a 39 year old mother who had struggled with disabling ailments since she was a child, yet miraculously marijuana made her strong enough to stand p and learn to walk again. Cone's tone throughout the article was very skeptical. For example, he referred to marijuana as an unproven therapy, and compared its use without scientific evidence to using liniments of turpentine for curing cancer. He also used pathos and logos to depict the political barriers to obtaining valid studies of medical marijuana.For example, Cohen used the story of how he had to wait four years to try to obtain marijuana legally from the National Institute on Drug Abuse (NADIA) to perform clinical studies of its effectiveness, and then later was rejected. Cotter, J. (2009). Efficacy of crude marijuana and synthetic delta-9- dehydrogenation's as treatment for chemotherapy-induced nause a and vomiting: A systematic literature review. Oncology Nursing Forum, 36(3), 345-352. Jaime Cotter's credibility as an author could be seen as reliable, although he has only written one article on medical marijuana.Cotter is an oncology clinical nurse specialist at Aurora SST. Lake's Medical Center in New Berlin, WI. , which affects his perspective on the uses of medical marijuana, which is that marijuana is better for treating patients with chemotherapy-induced nausea and vomiting (CINE). His targeted audience was mostly nurses and physicians. The goal of Cotter's article was to evaluate side effects and patient preference of smoked marijuana to the oral version of marijuana, TECH. Also he wanted to encourage fellow nurses to suggest the use of the TECH for treatment of CINE to their patients and physician associates.Cotter's article gave a general overview of the history of marijuana and its uses, and it compared smoked marijuana to TECH and placebo for treating CINE, by gathere d research from published scholarly articles. He used logos to convince his audience f the impossibility of death by a marijuana overdose, by reporting that the absence of cannoning receptors in the lower brainstem makes the probability for lethal overdoses impossible. Cotter also honestly stated that the adverse side effects of medical marijuana such as impaired memory, distorted perception, and anxiety.He continued is persuasive remarks by stating that all drugs have their own unique side- effect, which is undeniable. Hathaway, A. D. , & Roister, K. (2007). Medical marijuana, community building, and Canada's compassionate societies. Contemporary Justice Review, 10(3), 283-296. Hathaway and Rosette's credibility paled in comparison to the other authors even though their Journal was well researched. Hathaway works at the University of Gulch's department of sociology and anthropology, and he has a PhD. Roister also has a PhD and she works in the department of public health science at the University of Toronto.The main goal of their Journal was to shed light on the obstacles that patients go through to obtain medical marijuana, and to expose clandestine communities like compassion clubs that helped patients to gain access he medical marijuana. The authors' stance was in support of medical use of marijuana. Their Journal was mostly give out general information on the historical and present use of medical marijuana. Their main focus was to elaborate on the difficulty of patients to achieve access to medical marijuana through physicians, and how it caused them to go to other unreliable sources to gain medical treatment.The authors gathered research by going to a compassion club to perform face-to-face interviews with people that used marijuana for medicinal purposes. The author used he interviews as a way to manipulate the audience to believe that the compassion clubs were a safe haven for patients seeking marijuana treatment. They depicted that the clubs provided a wealth of information about medical marijuana and spared the patients form the dangers of buying street drugs. Season, M. J. , Fast, J. A. , Maria, M. , & ABA-Shears, N. A. (2007). Medical marijuana and the developing role of the pharmacist.American Journal of Health-System Pharmacy, 64(10), 1037-1044. The authors of this text are highly creditable, because they all reactive within pharmaceutical companies, and some are practicing pharmacists themselves. That fact totally shaped the goal of their article, which was to encourage fellow pharmacists to learn as much as possible about the medical and social histories of marijuana. The authors perspectives on medical marijuana was that it is a drug that should be used with caution and can have potentially adverse side- effects, especially if it interacts with prescription drugs.The authors used logos to convince the audience that the lack of scientific research is due to the fact the deiced marijuana is tightly regulated product, and i ts quality clinical trials are limited. The authors used ethos by naming prestigious institutes such as the Institute of Medicine and the House of Lords to support their claim that medical marijuana does have some value. The authors also made unsupported claims of marijuana being associated with adverse effects that impair the cardiovascular, respiratory, and nervous system. Tooting, W. , Collect, J. , Shapiro, S. & Ware, M. A. (2008). Adverse effects of medical cannabises: A systematic review. ECMA: Canadian Medical Association Journal, 178(13), 1669-1678. The authors article overall is creditable as a source for general information on medical marijuana, but they sometimes make claims without any proof to support them. All of the authors have occupations relative to health care. This whole article in a nutshell, was about a systematic review of medical marijuana by evaluating eligible articles that were published in the past 40 years, their results, and their interpretation.The pur pose was to report known adverse effects of marijuana, so their Journal could inform physicians, policymakers and the public. The authors used logos in the way that they performed systematic review, so that could persuade their audience that they were creditable and well informed. Also they used varied types of graphs to visually show their results, and to impress the audience. According to the authors, medical marijuana has a risk factor for psychosis, cancer, and neurologist effects.That study was focused on the recreational use of marijuana, so it cannot be trusted, because it is not relevant to medical uses. Ware, A. M. , Kahn, M. , Assertive, A. (2006). Is there a role for marijuana in medical practice? Canadian Family Physician, 52, 1531-1533. Ware, Kahn, and Secretariat's Journal was highly credible and useful. They all had professions that relate to health and medicine, so they could easily be declared reliable authors. Ware was a practicing pain physician and assistant prof essor in anesthesia and family medicine.Kahn was medical director of the addiction medical service and head of the alcohol clinic at SST. Josephs Health Centre for addiction and mental health. Also Assertive was a staff physician at SST. Josephs Health Centre and a clinical researcher. Their Journal entry was basically two opposing sides debating on whether marijuana use belongs in medical practice. The authors' goal was to show both sides of the marijuana debate to educate patients and physicians. Both side made strong points that supported their opinions.For example, the side for medical marijuana stated that marijuana could be cultivated under controlled conditions, which could reduce the risk of patients being prosecuted, and it could be documented and monitored as part of standard care. On the side against medical marijuana, they stated and oral TECH and a buyback spray are available, which is safer than smoking dried marijuana. Also they declared that patients that use marijua na are in a high risk for adverse effects like dependence and psychosomatic impairment, due to approved daily amounts that patients can consume.

Wednesday, October 23, 2019

How to Maintain a Good Health Essay

Nowadays, most people are busy with their daily work and lives which cause most of them have less time to care for their health including me. I used to eat foods that are easily to prepare in short period of time for example French fries, chicken nuggets or even pizza without paying attention to its nutrition if they are harmful or healthy for my health. According to Rockwell, high- fat foods may increase your risk for high blood cholesterol and this puts you at a higher risk for heart disease and other health conditions (2011). Here are some steps that we can follow to avoid high-fat foods, not smoking and eating foods high in vitamins help protect the eyes.There are three steps that I recommend others to follow of how to avoid fat foods, it may not work on everybody but at least it works on me. First, making a list of good and healthy foods before going to supermarket then just follow what we have listed out and buy it for our meal. Secondly, try to put as much as foods such fresh fruits in the refrigerator so that every time we need something to eat, especially in night time, we can replace junk foods or fatty foods with fruits. Last, we need to put our health on the top of everything in life that is why we need to read the nutritional fact carefully before we buy something.Not only fatty food can affect our health but also smoking could be dangerous for us. By reading an article from Black stated that â€Å"currently some 444,000 people die annually from direct and indirect tobacco diseases ( 2011).† It is good to avoid smoking that everybody has to do as soon as possible to save our lives. Here are some ways that people should follow to avoid tobacco. Keep yourself busy with daily activities instead of thinking about tobacco. For example, take your free time to go to the gym for working out instead of smoking or you can take a walk for sightseeing. Efficient nutritional intake is the most important part to keep our body healthy. There are certain types of minerals and vitamins are required for the eyes need. Vitamin A is one of the major sources to keep the human’s eyes work properly, and this kind vitamin we can obtain mostly from fresh fruit and vegetables. Furthermore, Vitamin D is also crucial to maintain and improve vision suggested by Dr. Mercola because it helps â€Å"reductions in retinal inflammation and levels of amyloid beta accumulation which is a hallmark of aging† (2012). Those are some information that I want to let people know how avoiding high-fat foods, not smoking, and eating foods high in vitamins help protect the eyes. Hopefully people will have a good life and stay healthy. Works Cited Black, Ken. â€Å"How many people dies an hour smoking?.† College Central. May 1, 2011. Web. October 2, 2012. Dr. Mercola. â€Å"This Vitamin Found to Rejuvenate Aging Eyes.† Take control of Your Health. February 6, 2012. Web. October 2, 2012. Rockwell, Kay. â€Å"Can Fatty Foods Cause Dark Circles Under the Eyes?†. The Limitless Potential of You. May 2, 2011. Web. October 2, 2012. Http://

Tuesday, October 22, 2019

The Economy of Oil Gas in UAE

The Economy of Oil Gas in UAE UAE is one of the largest producers of oil and natural gas. According to Taib, in 2009, UAE was the 8th largest producer of oil in the world. In the same year, UAE had the 4th largest reserves of natural gas (Taib). Around forty years ago, UAE was among the poorest countries in the world.Advertising We will write a custom essay sample on The Economy of Oil Gas in UAE specifically for you for only $16.05 $11/page Learn More However, after the discovery of oil, UAE’s economy was transformed within a short period. At the moment, it is one of the richest countries in the world. According to the Complete Resident’s Guide, â€Å"UAE is the second richest Arab country, after Qatar, on a per capital basis† (4). The guide also reiterates that UAE has an annual GDP growth rate of around 10%. However, due to fluctuations in oil and gas prices and the realization that an economy based on oil and gas might not be sustainable, UAE has diversified its economy. Therefore, other economic sectors play a huge role in UAE’s economy at the moment. This essay provides an insight into the effects of oil and gas on UAE’s economy. UAE has large onshore and offshore reserves of oil and natural gas. According to Shihab, UAE growth has been dependent on oil and gas since its formation in early 1970s. In 2009, UAE boosted nearly 7.3 % of world’s total oil reserves and was ranked 8th in the production of crude oil (Taib). At the same time, it was estimated that UAE had 1.6% of the world’s proven natural gas reserves. For that reason, it is believed that oil and gas will continue to be the backbone of UAE’s economy for a long period of time. Most of the oil and natural gas reserves are in Dubai and Abu Dhabi (Shihab). These two emirates have, therefore, made UAE an important player in the world’s oil industry. . â€Å"Economic development can be perceived as change in the structure of an economy† (Shihab 4). Likewise, oil and gas have greatly transformed the structure of UAE’s economy. Before 1970, UAE’s economy was slowly driven by agriculture. Moreover, in the late1950s and early 1960s, UAE was an underdeveloped country. â€Å"Its inhabitants were nomads, pearl divers and fishermen† (Shihab). Interestingly, the ruler’s fort was the only significant building in Abu Dhabi city. Moreover, roads and other basic infrastructures were missing. However, after 1970, oil and gas propelled the economy in a rate only seen in a few countries worldwide. Abu Dhabi is now a world class city and UAE income levels match those of developed countries. This transformation has been brought about by forty years of a flourishing oil industry. Furthermore, UAE skipped the hypothetic development stages that most countries go through before attaining the status of developed countries (Shihab).Advertising Looking for essay on business economics? Let's see if we c an help you! Get your first paper with 15% OFF Learn More It is believed UAE’s enormous oil and natural gas reserves enabled it skip these stages. Before the year 2000, UAE’s development strategy was inclined towards resource-based industries (Shihab). For instance, after the discovery of oil in Dubai, its infrastructure was developed solely from oil revenues. Therefore, UAE embraced an industrial strategy that strictly depended on the utilization of natural resources (Shihab). UAE utilizes the latest technology to increase efficiency and productivity in its oil and gas industry. According to Shihab, it has the capacity to produce two million barrels a day. This is the maximum production that can be sustained in one day. However, if the current rate of production is maintained, UAE’s oil reserves will only last for just over a hundred years (Shihab). Reliance on oil and gas has also impacted negatively on UAE’s economy and that of other co untries in the Gulf region. A study by Arouri, Lahiani and Bellalah showed that stock markets within the Gulf region reacted strongly to fluctuating prices in the oil industry. This study also concluded that the economic slump witnessed in UAE between2008 and 2009 had a relationship with fluctuating oil prices. Nonetheless, oil is not the only source of revenue for UAE. In 2004, oil only accounted for thirty two percent of the total GDP (Complete Resident’s Guide 6). For that reason, other economic sectors such as trade, manufacturing, housing and tourism played an important role in UAE’s economy. In addition, some emirates, within the federation, are not content with their oil and gas success (Mandel). For instance, Abu Dhabi has embarked on a mission to diversify its economy. In doing so, Abu Dhabi hopes that oil proceeds will only account for less than half of its GDP after 2015 (Mandel). It can be concluded that oil and gas are important elements of the UAE’ s economy. Huge reserves of oil and natural gas propelled UAE from a least developed country to a developed country in no time. However, some emirates, within UAE, such as Abu Dhabi have realized that an economy based on oil and gas is not sustainable. For instance, it is predicted that wells in UAE might dry up in a hundred years time (Shihab). For that reason, UAE economy is currently being diversified. Accordingly, other economic sectors such as housing, trade and tourism are being developed. Arouri, Mohamed, Lahiani Amine and Bellalah Makram. â€Å"Oil Price Shocks and Stock Market Returns in Oil-Exporting Countries: The Case of GCC Countries.† International Journal of Economics and Finance 2.5 (2010). Print.Advertising We will write a custom essay sample on The Economy of Oil Gas in UAE specifically for you for only $16.05 $11/page Learn More Mandel, Jen. â€Å"Emirate Channeling Oil Wealth into Bid for Green Economy.† New York Times on the Web 19 April. 2010. Shihab, Mohamed n.d., Economic Development in the UAE. PDF file. Web. Taib, Mowafa 2009, The Mineral Industry of the United Arab Emirates. PDF file. Web. The Complete Resident’s Guide: Dubai. Dubai: Explorer Publishing Distribution LLC, 2006. Print.

Monday, October 21, 2019

History of Ice Cream

History of Ice Cream The origins of ice cream can be traced back to at least the 4th century BCE. Early references include the Roman emperor Nero (37-68 CE) who ordered ice to be brought from the mountains and combined with fruit toppings, and King Tang (618-97 CE) of Shang, China who had a method of creating ice and milk concoctions. Ice cream was likely brought from China back to Europe. Over time, recipes for ices, sherbets, and milk ices evolved and served in the fashionable Italian and French royal courts. After the dessert was imported to the United States, it was served by several famous Americans. George Washington and Thomas Jefferson served it to their guests. In 1700, Governor Bladen of Maryland was recorded as having served it to his guests. In 1774, a London caterer named Philip Lenzi announced in a New York newspaper that he would be offering for sale various confections, including ice cream. Dolly Madison served it in 1812. First Ice Cream Parlor in America - Origins of Name The first ice cream parlor in America opened in New York City in 1776. American colonists were the first to use the term ice cream. The name came from the phrase iced cream that was similar to iced tea. The name was later abbreviated to ice cream the name we know today. Methods and Technology Whoever invented the method of using ice mixed with salt to lower and control the temperature of ice cream ingredients during its making provided a major breakthrough in ice cream technology. Also important was the invention of the wooden bucket freezer with rotary paddles, which improved the manufacture of ice cream. Augustus Jackson, a confectioner from Philadelphia, created new recipes for making ice cream in 1832. Nancy Johnson and William Young - Hand-Cranked Freezers In 1846, Nancy Johnson patented a hand-cranked freezer that established the basic method of making ice cream still used today. William Young patented the similar Johnson Patent Ice-Cream Freezer in 1848. Jacob Fussell - Commercial Production In 1851, Jacob Fussell in Baltimore established the first large-scale commercial ice cream plant. Alfred Cralle patented an ice cream mold and scooper used to serve on February 2 1897. Mechanical Refrigeration The treat became both distributable and profitable with the introduction of mechanical refrigeration. The ice cream shop or soda fountain has since become an icon of American culture. Continuous Process Freezer Around 1926, the first commercially successful continuous process freezer for ice cream was invented by Clarence Vogt. The Ice Cream Sundae Historians argue over the originator of the ice cream sundae but three historical probabilities are the most popular Ice Cream Cones The walk-away edible cone made its American debut at the 1904 St. Louis Worlds Fair. Soft Ice Cream British chemists discovered a method of doubling the amount of air in ice cream creating soft ice cream. Eskimo Pie The idea for the Eskimo Pie bar was created by Chris Nelson, an ice cream shop owner from Onawa, Iowa. He thought up the idea in the spring of 1920 after he saw a young customer called Douglas Ressenden having difficulty choosing between ordering an ice cream sandwich and a chocolate bar. Nelson created the solution, a chocolate covered ice cream bar. The first Eskimo Pie chocolate covered ice cream bar on a stick was created in 1934.​ Originally Eskimo Pie was called the I-Scream-Bar. Between 1988 and 1991, Eskimo Pie introduced an aspartame-sweetened, chocolate-covered, frozen dairy dessert bar called the Eskimo Pie No Sugar Added Reduced Fat Ice Cream Bar. Haagen-Dazs Reuben Mattus invented Haagen-Dazs in 1960, He chose the name because it sounded Danish. DoveBar The DoveBar was invented by Leo Stefanos. Good Humor Ice Cream Bar In 1920, Harry Burt invented the Good Humor Ice Cream Bar and patented it in 1923. Burt sold his Good Humor bars from a fleet of white trucks equipped with bells and uniformed drivers.

Sunday, October 20, 2019

An Explanation of Chain Migration

An Explanation of Chain Migration Chain migration has several meanings, so its  often misused and misunderstood. It can refer to the tendency of immigrants to follow those of a similar ethnic and cultural heritage to communities theyve established in their new homeland. For example, its not unusual to find Chinese immigrants settling in Northern California or Mexican immigrants settling in South Texas because their ethnic conclaves have been well-established in these areas for decades. Reasons for Chain Migration   Immigrants tend to gravitate to places where they feel comfortable. Those places often are  home to previous generations who share the same culture and nationality.   The History of Family Reunification in the U.S. More recently,  the term chain migration has become a pejorative description for immigrant family reunification and serial migration.  Comprehensive immigration reform  includes a pathway to citizenship that critics of the chain migration argument often use as a reason to deny unauthorized immigrants legalization. The issue has been at the center of U.S. political debate since the 2016 presidential campaign and throughout the early part of Donald Trumps presidency. The U.S. policy of family reunification began in 1965 when 74 percent of all new immigrants were brought into the U.S. on family reunification visas. They included unmarried adult children of U.S. citizens (20 percent), spouses and unmarried children of permanent resident aliens (20 percent), married children of U.S. citizens (10 percent), and brothers and sisters of U.S. citizens over age 21 (24 percent). The government also increased family-based visa approvals for Haitians after a devastating earthquake in that country in 2010. Critics of these family reunification decisions call them examples of chain migration. Pros and Cons   Cuban immigrants have been some of the prime beneficiaries of family reunification over the years, helping to create their large exile community in South Florida. The Obama administration renewed the Cuban Family Reunification Parole Program in 2010, allowing 30,000 Cuban immigrants into the country the previous year. Overall, hundreds of thousands of Cubans have entered the U.S. through reunification since the 1960s. Opponents of reform efforts often are  opposed to family-based immigration as well. The United States allows its citizens to petition for legal status for their immediate relatives- spouses, minor children,  and parents- without numerical limitations. U.S. citizens also can  petition for other family members with some quota and numerical restrictions, including unmarried adult sons and daughters, married sons and daughters, brothers, and sisters. Opponents of family-based immigration argue that it has caused migration to the U.S. to skyrocket. They say it encourages overstaying visas and manipulating the system, and that it allows too many poor and unskilled people into the country. What the Research Says   Research- especially that performed by the Pew Hispanic Center- refutes these claims. In fact, studies have shown that family-based immigration has encouraged stability. It has promoted playing by the rules and financial independence. The government caps the number of family members who can immigrate each year, keeping the levels of immigration in check. Immigrants with strong family ties and stable homes do better in their adopted countries  and theyre generally a better bet to become successful Americans than immigrants who are on their own.

Saturday, October 19, 2019

The Social Impact of the Industrial Revolution Essay

The Social Impact of the Industrial Revolution - Essay Example lution.   In reality, this eve began more than two centuries before this date.   The late 18th century and the early l9th century brought to fruition the ideas and discoveries of those who had long passed on, such as, Galileo, Bacon, Descartes and others. The birthplace of the industrial revolution was eighteenth century England, blessed with people, natural resources, inventions, and money, all of which were needed for industrialization.   The industrial revolution required both workers and consumers, both of which were supplied by Englands rapidly expanding population.   Prior to the eighteenth century, population growth in England had been slow.   In 1700, England had less than seven million people, and its population was growing very slowly.   But by the first decade of the nineteenth century, its population had reached an unexpected eleven million.   Although the number of births rose during this period, the more dramatic change was in the death rate which dropped sharply.   The death rate dropped because of reasons such as more babies surviving child-birth, reduction in deaths due to epidemics and increase in availability of food.   The growing number of people created an expanding market for all kinds of goods.   English industry met this demand first by finding ways to speed up the manufacture of the desired wares and second by building more factories to turn out more goods.   The growth of industry meant that more workers were needed.   The population that gave rise to increased business also provided the labor force to generate that increase (Corrick, 1998, pp.15-19). The industrial revolution gradually began to spread to other parts of the world.   Countries such as France, Holland and Belgium also possessed some of the elements that triggered the industrial revolution in England.   Like England, Belgium had a growing population, good supplies of coal and iron, and centuries-old weaving industry ripe for mechanization.   Belgium used English technology

Friday, October 18, 2019

The International Monetary Fund and World Bank Annotated Bibliography

The International Monetary Fund and World Bank - Annotated Bibliography Example IMF has laid strategies and efforts to promote sound macroeconomic policies, orderly adjustment, and market-oriented reforms are essential to reduce poverty and income inequality in those countries under the IMF programs. According to the Eurodad report, the organization is paying increasing attention to the quality, not just the quantity, of its adjustment programs. These allegations raised by the IMF are of fundamental nature but I disagree with the initiative based on the following sentiments. In this case, the IMF does not issue fresh instructions to adjust the amount the member must transfer so that the amount will be in accord with the new exchange rates in relation to the loans offered through World Bank. Article IV of the IMF has provided a disagreement support regarding the motion that the IMF and World Bank should not continue attaching strict conditions on how their loan money is used and what other economic changes must occur before the loans are approved. The support is based on the macroeconomic outlook and the risk of economy globally. With the recovery of intense domestic demand in New Zealand by mid-2010, the IMF in conjunction with the World Bank should do away with the strict notions laid on the loans offered to the clients. Such unexpected happenings that were experienced in New Zealand should be planned for when the IMF is issuing out funds through the World Bank. For instance, the IMF director had announced a direct increase on the funding projects in New Zealand by 15%, a state that could not have been implemented in the initial epoch while implementing the standardized value on the funding of the earthquake victims in New Zealand.

The movie ( the station Agent) Review Example | Topics and Well Written Essays - 250 words

The ( the station Agent) - Movie Review Example Rather, it explores the possibility and feasibility of strange equations between newly acquainted humans. For example, when Fin moves to the old building left behind by Henry (upon the latter’s death), he suddenly finds himself forming an intricate network of social interactions. In this newfound social atmosphere there are opportunities for creative exploration as well as for personal bonding. The former is attested by the joy Fin derives through observing and studying trains and the latter is borne by the close personal bonds he develops with Joe and Olivia. The most distinct character of this independent film is the lack of sexual interest in any of these relationships. This is a far cry from conventional Hollywood fare whose plots are woven around sexual/romantic interest of the lead characters. The Station Agent is simultaneously inspiring and thought-provoking. For example, the film shows the transformation of a physically disadvantage person’s attitude toward life and other humans. This way it poses key questions to the viewer as to how they view their own predicaments in life. Fin’s near-death experience on the rail tracks is an imploration to the audience to seize everyday moments and make the maximum out of them. This subtle and implicit dialogue that the director Thomas McCarthy strikes with the viewer makes The Station Agent a truly one-of-its-kind independent

Insurance Fraud and its Perpetration Essay Example | Topics and Well Written Essays - 1750 words

Insurance Fraud and its Perpetration - Essay Example The individuals who are mostly found engaging in hard fraud include company executives, as well as employees. A corporate worker who engages in fraud will typically choose to defraud the insurance firm by taking bribes from physicians to validate false claims. Insurance agents could also participate in defrauding an insurance firm by not forwarding policyholder premiums to it, and instead of pocketing them while hoping that a claim is not filed by the policyholder. Hard fraud could also be perpetrated by con artists who create fake insurance firms and then proceed to collect premiums from gullible consumers. Such con-artists almost never pay claims. Once the numbers of claims being filed by policyholders reach a certain number, the defrauders will vanish with the company assets. Soft fraud is also referred to as opportunity fraud and takes place when a claimant overstates a genuine claim. For instance, a car owner who is involved in a minor incident where there is a ‘fender bender’ problem can exaggerate the claim (Karamouzis and Hallawell 2005). Soft fraud can also take place in the course of the underwriting process when consumers are invited to renew their coverage. In such an instance, the claimants could offer false information for the purpose of lowering the insurance premiums; thus increasing the possibility of their applications being accepted (Pontell 2005b). For instance, they could provide false information on the car’s mileage, provide a false garage location, or even add to the number of items that may have been stolen, in incidences of theft. The UK Fraud Act of 2006 actually strengthened the existing law on insurance fraud. It included the notion that people would be charged with fraud if they used fake representations, or even refrained from disclosing important information (Hoyer, Zakhariya, Sandner, and Breitner 2012).

Thursday, October 17, 2019

Discussion Questions and Participation Questions Essay - 2

Discussion Questions and Participation Questions - Essay Example Along with English which the universal business language websites must the capacity to translate its material to other popular languages such as Spanish, Portuguese, French, and Japanese. Doing so will increase the reach of the corporate website. Two issues that are important in international transactions are foreign exchange transactions and regulatory compliances. When doing business international companies have to interchange money. Due to the fact that different countries utilize other monetary units other than the dollar the business transactions internationally have to take into consideration the foreign exchange market. A way to protect itself against the risk of a monetary unit going up in the value is to write business contracts in which the parties stipulate the monetary unit that is going to be utilized. Another important issue in international business transactions is the local environmental regulations. Depending on the nation there are different regulations. Performing research on the local laws that apply in international location is the best way to reduce business risk associated with regulatory compliance. You mentioned the importance of knowing the foreign language and the culture of the people. Misunderstanding about cultural issues can lead to major mistakes. For example in India people considered the cow a sacred animal. Fast food chains such as McDonald’s and Wendy’s would be making a major mistake if they tried to penetrate the India marketplace with their traditional products. In some cultures such as the Chinese culture body language is important. Americans are less formal about body language gestures. Professional databases such as CultureGrams provide great information about the cultures of the different countries in the world. The proliferation of online shopping has become a factor companies cannot ignore anymore. In 2009 e-commerce generated nearly $132 billion in sales in the United States

Manhattan Bagel Essay Example | Topics and Well Written Essays - 750 words

Manhattan Bagel - Essay Example Since its inception, the association now has over 1000 franchise members, as well as 350 suppliers and 7000 franchisee members. Manhattan Bagel Franchise Manhattan Bagel always brings fame to the customer's desires for each varied sensation in flavour. It also creates a very uniquely attractive place featuring traditional as well as modern selections for their meals. The company is about authentic food for the real people, this serves in a way suggesting that each customer is a treasured neighbour. The companies’ authentic food includes, the award winning bake bagels and boil, and also goes right in to our appetizing and freshly baked food. The success of Manhattan stores depends on various factors, this includes availability of the suitable stores sites and securing of lease terms for new locations, also, should consider the company’s ability to obtain or acquire construction and also other necessary permits in timely manner, moreover, ability to meet schedules set for construction, the financial and capabilities of company’s main franchisees, lastly the company should have business and general economy conditions (Grumet). Its success partially depends on the ability it has to attract, contract and retain suitable franchisees and their abilities to open and also operate each of the stores successfully. To spice it all, Manhattan business may be subjected to changes in the products tastes to maintain consumers, local and regional economic conditions, national, type and the trends in demography, location and number of the businesses competing. The competition is always increasing in Bagel industry significantly with the increasing number of regional, local and national stores competition for locations of stores and franchisees, as well as their customers. The services offered by the company are standardized and maintained by the authorities’ regular checks (Grumet). It understands and also acknowledges that each and every detail or in formation that is valid to the company is given attention. Through this, the company maintains high standards in its operations and product demands are in that case increased, sold all over the markets by their stores while the reputation and goodwill is protected. Manhattan Bagel Strengths Manhattan Bagel strengths are seen in the company’s brand which exists with franchisee field support structure. It began at its inception and thereafter polished and honed ever since. The other strength of Manhattan Bagel is the senior positions in the management are filled with the veterans from the company thus bringing a very strong background operating the business. The leadership in the company is also very skilful and experienced in all supporting departments. Moreover, the program in the company extends the daily operations in individual store, from the right manuals supply to topical training thorough field support. Additionally, while the company strive to uphold the standards of their stated brands, it also works with franchisees on a consultative base through the Franchise Consultant network to help it improve by moving the brand forward. The company also has in-house culinary department ranking with the best in industry (Grumet). The culinary researchers in the company and seasonal chefs are considered to be constant quest for the future of the Manhattan. Through this, the company franchisees showcased and the cutting edge culinary prospered in the markets. Manhattans Bagel weaknesses Though many companies have gone into

Wednesday, October 16, 2019

Discussion Questions and Participation Questions Essay - 2

Discussion Questions and Participation Questions - Essay Example Along with English which the universal business language websites must the capacity to translate its material to other popular languages such as Spanish, Portuguese, French, and Japanese. Doing so will increase the reach of the corporate website. Two issues that are important in international transactions are foreign exchange transactions and regulatory compliances. When doing business international companies have to interchange money. Due to the fact that different countries utilize other monetary units other than the dollar the business transactions internationally have to take into consideration the foreign exchange market. A way to protect itself against the risk of a monetary unit going up in the value is to write business contracts in which the parties stipulate the monetary unit that is going to be utilized. Another important issue in international business transactions is the local environmental regulations. Depending on the nation there are different regulations. Performing research on the local laws that apply in international location is the best way to reduce business risk associated with regulatory compliance. You mentioned the importance of knowing the foreign language and the culture of the people. Misunderstanding about cultural issues can lead to major mistakes. For example in India people considered the cow a sacred animal. Fast food chains such as McDonald’s and Wendy’s would be making a major mistake if they tried to penetrate the India marketplace with their traditional products. In some cultures such as the Chinese culture body language is important. Americans are less formal about body language gestures. Professional databases such as CultureGrams provide great information about the cultures of the different countries in the world. The proliferation of online shopping has become a factor companies cannot ignore anymore. In 2009 e-commerce generated nearly $132 billion in sales in the United States

Tuesday, October 15, 2019

Paradise Lost Essay Example for Free

Paradise Lost Essay Paradise Lost is divided into twelve books. In Book I Milton explains the theme of his work, man’s disobedience to God, his expulsion from Heaven and the story of the rebel angels sent to Hell. In Book II the angels meet in council to decide what they will do. In Book III God makes a speech on man’s freedom to choose between good and evil. In Book IV Satan observes the happiness of Adam and Eve in the Garden of Eden. In Book V God sends Raphael to warn Adam. In Book VI the war in Heaven in described. Book VII and VIII tell the story of the creation of the Earth and the universe. In Book IX Satan persuades Adam and Eve to taste the forbidden fruit. In Book X God’s Son pronounces the sentence of expulsion. In the last two books Adam and Eve abandon paradise. Paradise Lost is an epic poem. Milton chose the epic genre because of the greatness of the subject. He follows the typical epic conventions in his masterpiece, such as the opening with the statement of the theme. This epic takes place in the universe, in Heaven, Hell and Eden. The main characters, God, Satan, Christ, Man and the fallen angels remind the warriors and heroes of the classical epic, even though they are more philosophical heroes. Milton knew the Copernican cosmology but he based the universe of Paradise Lost on the traditional Ptolemaic system because he thought that this conception was fixed in the minds of the people and it had limits within which it was easier for him to work. In Milton’s Heaven God created the Earth, fixed in the centre of the Universe, and he put his life and thoughts in the natural world so that the external reality reflects the divine soul. In Paradise Lost evil and good are opposed. However, Satan has many characteristics of the epic hero, courage, leadership, initiative. Milton has sympathy for his Satan because he himself was a rebel against the political and religious authority. Both Milton and Dante said that their works had divine inspiration but they had contrasting ideas about Satan’s physical appearance and meaning. Dante’s Satan becomes a means of punishment and it resembles a mythic monster, with wings and three heads. Milton’s Satan is a symbol of God’s justice and it takes several forms, first it is a fallen angel, then it has an inhuman form and finally he becomes a snake. The style of the poem is elevated, the poet used a new kind of magnificent blank-verse.

Monday, October 14, 2019

The Evolution Of Microfinance Institutions In Nigeria Economics Essay

The Evolution Of Microfinance Institutions In Nigeria Economics Essay With the huge shortage of funds in the banking industry, failure of the established community banks and other government programs in financing microenterprises in Nigeria, gave rise to the idea of transforming existing microfinance NGOs into microfinance banks. In the past years, microfinance institutions were informal in nature. They were characterized by different mechanism such as ability of the members of these microfinance institutions to have credit support from other members which could be used in expanding their businesses mainly in the agricultural sector. For almost three decades it has been a challenge for governments to provide micro-credit to the poor people who are operating micro and medium enterprises. It is known that in every country around the world, over 90% of the businesses are micro and small businesses (Jenkins, 2009). In Nigeria, there used to be people who go round taking money from other people in their job places. These kinds of people serve like village banks, where they accept the money as deposit and save it for the people. This kind of agreement between the inhabitants of the respected area and the people going round to collect their money establishes a trust between them. Although it differs between community to community, the whole idea is the same which is deposit taking and saving, but what remains interesting here is that in some cases, these people that agree to save, form group amongst themselves, and one or two people among them borrow the money after it has been accumulated. They usually gather the money for six to twelve months. The members who collect the money usually use it to invest in their businesses but they also know that they are required to return the money back to the depositors. This way other members will also have a chance to borrow. This is one of the interesting ca ses as it gives us an insight on how the financial sector operates in Nigerian villages and towns. This process of formation of own borrowing groups was not only common in Nigeria, but it was experienced around the world. An empirical evidence in Ghana (Owusu and Tetteh, 1982), Zimbabwe (Bratton, 1986) and Dominican Republic (Desai, 1983) shows that local conditions have influenced the ideal size of membership and that below or above the ideal size of membership correlates negatively with cohesiveness and joint accountability. Anyanwu (2004) conducted a study on micro-finance institutions in Nigeria, their policy practice and potential. In this study, he analyzed at that time, the ten major micro-finance institutions in Nigeria with respect to their location. These micro-finance institutions were Farmers Development Union (FADU), in Ibadan; Community Women and Development (COWAD), in Ibadan; Country Women Association of Nigeria (COWAN), in Akure; Lift Above Poverty (LPO), in Benin; Justice Development and Peace Commission (JDPC), in Ijebu-Ode; Women Development Initiative (WDI), in Kano; Development Education Centre (DEC ENUGU), in Enugu; Development Exchange Centre (DEC BAUCHI), in Bauchi; Outreach Foundation (OF), in Lagos; and Nsukka Area Leaders of Thought United Self-Help Organization (NLTNUSHO), in Nsukka. The result of the analysis carried out by Anyanwu in 2004 showed that most of the beneficiaries of the services provided by the micro-finance institutions in Nigeria were women. About 97.4 per cent of the clients in the sample were women. Four of the institutions exclusively provide services to women, while five had over 90 per cent of their clients as females (Anyanwu, 2004 pp.5). This shows clearly how women have been the most important target for the micro-finance institutions which is viewed as normal because of the fact that women in Nigeria are always believed to be marginalized in terms of socio-economic matters. The study was one of the triggering factors that led to the public sector seeing the fact that almost 60 percent of the Nigerian populations which reside in the rural or remote areas do not have access to micro-credit. This gave the public sector a thinking of coming out with alternative solution to this problem. The following tables 1 to 4 summarize the ten major mic ro-finance institutions in Nigeria and their activities before 2005. As the analysis in Table 1 to 4 shows, in average all these microfinance institutions source their funds from either government grants or grants from other individual or international donors. This kind of source tells us that the microfinance institutions in Nigeria were dependent on these grants which constitute 51.2 percent of their whole source of funds. This is a very big number in respect of sustainability of the entire microfinance sector that they serve to the poor. Microfinance institutions in Nigeria should be able to have continual supply of micro-credit to the Nigerian poor and abandoned population on their own without receiving any exogenous grants or donations. Having that huge amount of external support as 51.2 percent grants or donations, gives us a hint that a more adequate and self-sustainable institution is needed in order to serve the poor on sustainable basis. So overall, self-sustainable institutions are needed to be able to tackle the poverty alleviation questio n addressed by the government through the micro-finance sector in Nigeria. With these downturns and global concern about poverty, micro-finance became a very important discussion and top priority of even international development institutions. Huge funds were set aside by these institutions to combat poverty. These institutions are membered by the world countries which made it powerful enough to deal with questions of poverty and promote consensus solution amongst themselves. With the clear international concern about the effect of poverty which the world income distribution with a Gini coefficient of around 0.85 makes it an excellent indicator of unsuccessful nature of the aggregate world economy these days. This result shows an unjust income distribution, which roughly 15 percent of worlds population receive 80 percent of the aggregate income generated, whereas almost half of the worlds population to fall under massive conditions of poverty (Birtek, 2009). Microcredit is a critical anti-poverty tool and a wise investment in human capital. Now that the nations of the world have committed themselves to reduce the number of people living on less than $1 a day by half by the year 2015, we must look even more seriously at the pivotal role that sustainable microfinance can play and is playing in reaching this Millennium Development Goal (Annan, 2006). Year 2005 was recognized by the United Nations as Year of Microfinance (Jenkins, 2009). United Nations is one of the sole organizations which foster the continual existence of micro financing in both the developed and developing countries. The millennium development goals addressed the issue of alleviating poverty not only by giving foreign aid to the less developed and under-developed countries, but also by supporting the poor to stand on their own. With all these developments that took place since early 1990s, like the other governments, the Nigerian government also reacted. The Central Bank of Nigeria (CBN) responded in 2005 by establishing laws which will promote the establishments of better financial institutions to serve the Nigerian poor population. The microfinance policy, regulatory and supervisory framework for Nigeria entered into force in 2005. This law obligates microfinance institutions to be regulated in Nigeria. With this policy, regulatory and supervisory framework, the government addressed different issues needed to strengthen microfinance institutions in Nigeria. This law required the private sector to acquire license from the Central Bank of Nigeria. The license was open to start-up a micro-finance banks or an already established microfinance institutions that wanted to convert into a micro-finance bank. The policy aimed at having adequate regulation and supervision over the microfinance sector in Nigeria. According to Jenkins (2009), one of the ways of incorporating microfinance into the financial system can be achieved through the change of microfinance NGOs into a formal regulated financial institutions. With this, adequate credit allocations to the poor could be achieved. As (white and Campion, 2002) termed it to be up scaling of microfinance institutions. Furthermore, Jenkins (2009) stated that since 1990s a large number of microfinance institutions have transformed into a regulated microfinance bank such as BancoSol, K-Rep and ACLE-DA Bank. These microfinance NGOs were all unregulated, but they later transformed into a fully regulated institution under their respective country laws. 3.2 Regulation of Micro Finance Banks in Nigeria The microfinance policy, regulatory and supervisory framework in 2005 was the first formal policy established for microfinance institutions that are becoming microfinance banks in Nigeria. Some months later, another formal text was released on regulatory and supervisory frameworks for micro-finance banks (MFBs) in Nigeria. These provisions were established in line with the Millennium Development Goals (MDGs) as every member of the United Nations should respect. Analysis would be made on the policies establishing the micro-finance banks in Nigeria. This policy was the proceeding of the National Conference on Microfinance organized between the Ministry of Finance (MoF) and Central Bank of Nigeria (CBN) in 2000. As a result, in 2001, the Central Bank of Nigeria conducted a baseline study of the microfinance institutions in Nigeria. Some of the objectives of the study among others as indicated by Okojie, Monye-Emina, Eghafona, Osaghae Ehiakhanem (2009, pp22-23) were: Identifying the role of MFIs in financial intermediation in Nigeria, Determining the level of financial intermediation of MFIs with a view to developing a regulatory and supervisory framework to guide and enhance its operations in Nigeria, and Recommending policies that would facilitate the linkage of informal, semi-formal, and formal financial services providers to micro- and small-scale rural entrepreneurs. Also the study shows that as of third quarter of 2001, about 60 percents of commercial banks had aggregate savings of about N99.4 million about 662,666 USD and outstanding credit of N649.6 million about 4,330,666 USD, indicating huge business transactions in the sector. This clearly indicates the large size of their equity base. (Okojie, Monye-Emina, Eghafona, Osaghae and Ehiakhanem, 2009). With the above indications addressed by the study which explained the need for a proper regulatory framework, the Central Bank of Nigeria (CBN) responded as indicated by (Anyanwu, 2004) as follows: Development of a regulatory and supervisory framework for the operations of MFIs in Nigeria Establishment of an apex regulatory institution charged with the responsibility of building capacity through the training of directors and managers of MFIs to enable them to develop an efficient information system for identifying and managing risks, and satisfying relevant data and information requirements of regulators and stakeholders, Improvement of infrastructural facilities so as to reduce the transactional costs associated with the administration of microcredit in the country. These areas above indicated by the Central Bank of Nigeria (CBN) brought about the entire regulatory and supervisory framework for microfinance banks (MFBs) in Nigeria. Below will be analysis on the kinds of regulatory and supervisory issues are addressed. 3.2.1 What determines the Central Bank of Nigeria (CBN)s Power? The regulatory and supervisory guidelines and rules are issued by the CBN in the exercise of powers given by the provisions of section 28 subsection (1) (b) of the CBN Act 24 of 1991 (as amended) and in pursuance of the provisions of section 56-60A of the Banks and Other Financial Institution Act (BOFIA) 25 of 1991 (as amended). These guidelines were to organize and establish micro-finance banks (MFBs) that will be able to utilize deposit acceptance and savings from the public and engage in microfinance activities with their clients (CBN, 2005). This power made CBN above any other government department or parastatal in decidng regulatory and supervisory rules for these microfinance banks in Nigeria. 3.2.2 What Defines a Micro Finance Bank by law? As indicated by the policy law, a microfinance bank unless otherwise stated shall be taken to mean any kind of company licensed to carry out the business of providing microfinance services which includes such things as savings, loans, domestic funds transfer and other financial services that economically active poor, micro enterprises and small and medium enterprises need to carry out and boost their businesses as indicated by these rules and guidelines (CBN, 2005). 3.2.3 Who should be the micro-finance clients ? It is clealy indicated in the policy establishing the microfinance banks in Nigeria that who their clients should be. The policy clealy states that the main purpose is to serve the economically active poor which will be a way of empoering them to have more choices. The policy indicated that for a person to benefit from the microfinance banks, certain characteristics should be met (CBN, 2005), which includes : Having a monthly income of not more than twice the monthly per capital income of Nigeria or minimum wage, whichever is higher Having a total productive assets [inclusive of those arising from loans but excluding the cost of land] of not more than five hundred thousand Naira [N500, 000.00] only, about 3,333.33 USD. Is not a regular employee of any organization Age between 18 and 60 years. Unless if someone fall in that category, or else microfinance loan would not be granted. 3.2.4 What defines a Poor Person? A poor person as explained by the policy is one who has meager means sustenance or livelihood, and who earns a total income in a year that is less than the minimum taxable income set by the Nigerian government (CBN, 2005). 3.2.5 Which businesses are termed as micro-enterprises? It is indicated in the policy that micro enterprises are those firms that require micro credit or loans to operate and boost their businesses. These kinds of businesses are characterized of mainly sole proprietorships and are family basic in nature. Employments are provided to few which are mostly immediate family members. These micro entrepreneurs work informally and usually are engaged in activities which are primary in nature like local craft and subsistence agriculture. 3.2.6 What defines Collateral and what is the Loan Duration? Unlike the commercial bank lending where collateral is a requirement, micro loans are given to the micro entrepreneurs such as peasants, farmers, artisans, fishermen, women, senior citizens and non-salaried workers in the formal and informal sector based on their character and the cash flow of the businesses and their household (CBN, 2005). Collateral is not needed to secure any micro-credit loan due to the fact that the idea is to help the poor, low income earners and micro entrepreneurs boost their businesses as indicated by the policy (CBN, 2005). The micro-loan duration should not exceed 180 days (6 months), but in some exceptional cases where a loan is giving to micro-enterprises engaged in agricultural activities with longer gestation period, maximum of 12 months (one year) would be granted. The loan may be repaid daily, weekly, monthly or bi-monthly basis depending on the amortization schedule in the contract (CBN, 2005). 3.2.7 Ownership and License of Microfinance Banks (MFBs) In Nigeria The policy framework explained that micro-finance banks can be established by a single person, group of individuals, community development associations, and domestic private and foreign investors. The policy further explained that significant diversification in ownership would continue to be encouraged in order to enhance good corporate governance of licensed MFBs. Also those universal banks that intend to create any category of MFB as their subsidiaries shall be required to satisfy all the requirements set by the law. Talking about granting license, it requires that any investor thats willing to operate a MFB in Nigeria shall put it in writing to the governor of Central Bank of Nigeria (CBN). It indicated that there shall be two categories of licenses. These categories as indicated by the Micro-Finance policy were: Those Micro Finance Banks (MFBs) licensed to operate as a unit bank otherwise known as Community banks shall operate and open branches within a specified local government area [LGA]. N20 million [twenty million naira] roughly 133,333.333 USD or such amount shall be the minimum capital requirement as may be prescribed by the CBN from time to time. And Those Micro Finance Banks (MFBs) licensed to operate in a State and open branches within a specified state or Federal capital territory. N1.0 billion (one billion naira) only roughly 6,666,666.667 USD or such an amount shall be the minimum capital requirement as may be prescribed by the CBN from time to time (CBN 2005, p10). With these features mentioned above, one can see the differences between a universal bank and a micro-finance bank regulation in Nigeria. A clear demarcation can be seen in the amount of capital requirement. For a universal bank, its 25 Billion Naira about 166,666,666.7 USD, which is 25 times the minimum capital requirement for a microfinance bank licensed to operate in a state. This is a huge gap because microfinance banks in Nigeria are only restricted to given credits to the class of people that are either low income earners, aged or senior citizens. These only are allowed to receive a micro-credit loan. 3.3 Permissible acts for Microfinance Banks in Nigeria There are number of permissible acts indicated by the policy establishing microfinance banks in Nigeria. As indicated by the framework policy, a microfinance bank shall only be allowed to provide the following services to its clients (CBN, 2005 pp8-9): Acceptance of various types of deposits including savings, time, target and demand from individuals, groups and associations; except public sector deposits [government], provision of credit to its customers, including formal and informal self-help groups, individuals and associations; promotion and monitoring of loan usage among its customers by providing ancillary capacity building in areas such as record keeping and small business management; issuance of redeemable debentures to interested parties to raise funds from members of the public with approval of the CBN; collection of money or proceeds of banking instruments on behalf of its customers through correspondent banks; provision of payment services such as salary, gratuity, pension for the various tiers of government; provision of loan disbursement services for the delivery of credit programme of government, agencies, groups and individual for poverty alleviation on non-recourse basis; provision of ancillary banking services to their customers such as domestic remittance of funds and safe custody; maintenance and operation of various types of account with other banks in Nigeria; investment of surplus funds of the MFB in suitable instruments including placing such funds with correspondent banks and in Treasury Bills; pay and receive interests as may be agreed upon between them and their clients in accordance with existing guidelines; operation of micro leasing facilities, micro finance related hire purchase and arrangement of consortium lending and supervise credit schemes to ensure access of micro finance customers to inputs for their economic activities; receiving of refinancing or other funds from CBN and other sources, private or public, on terms mutually acceptable to both the provider of the funds and the recipient MFBs; provision of micro finance related guarantees for their customers to enable them have greater access to credit and other resources; buying, selling and supplying industrial and agricultural inputs, livestock , machinery and industrial raw materials to poor persons on credit and to act as agent for any association for the sale of such goods or livestock; investment in shares or equity of any body-corporate, the objective of which is to provide microfinance services to poor persons; encouragement of investment in cottage industries and income generating projects for poor persons as may be prescribed by the CBN provision of services and facilities to customers to hedge various risks relating to microfinance activities; provision of professional advice to poor persons regarding investments in small businesses; rendering managerial, marketing, technical and administrative advice to customers and assisting them in obtaining services in such fields; mobilize and provide financial and technical assistance and training to micro- enterprises provision of loans to microfinance clients for home improvement and consumer credits; and performance of non-banking functions that relate to micro finance related business development services such as co-operatives and group formation activities, rural industrialization and other support services needed by micro enterprises. Unless otherwise stated by the CBN, no microfinance bank is allowed to spill over these permissible acts, in other words only these services can be performed and provided by microfinance banks in Nigeria. These permissible acts are subject to review by the CBN from time to time. 3.4 Prohibitive acts for Microfinance Banks in Nigeria As indicated by the policy, microfinance banks are not allowed to carry activities (CBN, 2005 pp9-10) such as : acceptance of public sector [government] deposit except for the permissible activities like provision of payment services such as salary, gratuity, pension for the various tiers of government and provision of loan disbursement services for the delivery of credit programme of government, agencies, groups and individual for poverty alleviation on non-recourse basis foreign exchange transactions, international commercial papers, international corporate finance, international electronic funds transfer, cheque clearing activities, dealing in Land for speculative purposes, real estate except for its use as office accommodation, allow any facility for speculative purposes; and enter into leasing, renting, and sale/purchase of any kind with its directors, officers, employees or persons who either individually or in concert with their family members and beneficiaries own five percent [5%] or more of the equity of the MFB, without the prior approval in writing of the Central Bank of Nigeria