Counselling Skills Essay Example | Topics and Well Written Essays - 1000 words

Advising Skills - Essay Example The primary stage is the relating stage wherein you relate with the subject’s temper. This should be possible by being mindful to what he says and on occasion additionally rewording and rehashing it. This causes the customer to feel that he was tuned in to and saw appropriately and this ingrains a confidence in the customer towards the instructor. The following stage is the getting stage. In this stage, the advisor attempts to comprehend the thinking style about the subject. Next is the changing stage wherein the instructor attempts to tutor the subject along these lines changing his reasoning example and in this manner helping him to take care of his issues. Directing requires a ton of exercises from the counsellor’s side so as to support the subject. The Counselor needs to make verbal, vocal and real correspondence with the subject (Board 2005). When powerful correspondence is set up between the guide and the subject, it turns out to be simple for the advisor to comprehend the edge of reference of the subject. Advocate should utilize suitable small scale aptitudes so as to build up successful correspondence with the speaker (Hough 1996). The smaller scale aptitudes establish of keeping eye to eye connection with the customer, empowering the customer all through by gesturing at spans. Affirmation of the subject’s feelings and emotions is likewise significant (Burnard 1999). The advisor should ensure that he isn't doing some other errand by then of time. Intruding on the customer for reasons unknown is likewise an unquestionable requirement don't for guides. The advocates should ensure that the inquiries which they pose to t he customers ought not be driving ones and ought to be open inquiries (Inskipp 1988). Driving inquiries direct the customers to offer the responses which the guides want. The advocate should confront the customer in a square position, and ought to keep up a stance which shows association from the side

Marketing Project Essay free essay sample

Question 1: Define promoting and plot the means in the showcasing procedure. Answer: Though the vast majority are completely mindful of the idea of promoting and have encountered the marvelousness and prodigy that advertisers make, few have the information on the meaning of showcasing in conventional terms. As per most advertising masters, showcasing is a lot of exercises intended to arrange and advance an item or administration through brand picture and observation (Marketing power, 2009).Building a recognition and incentive about a specific item through promoting procedures, for example, division, situating and utilizing innovativeness are the qualities of promoting. Showcasing is certifiably not a solitary action and is maybe one of the most significant ones of an association depending on purchaser merchandise for its benefits. For instance, the promoting exercises of Pepsi have a more prominent financial plan than the creation spending plan; these insights are astounding as well as they give the normal man a thought of how significant advertising is, as an action to firms selling buyer merchandise. We will compose a custom paper test on Advertising Project Essay or on the other hand any comparable subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The way toward advertising is a lot of steps characterized directly anyway is followed in a manner best depicted as between connected. Every action fills the results of the past action and hence one may move to and fro the stepping stool so as to arrive at a positive objective. The promoting procedure is ordered as:1. Understanding the mission/vision of the association Being the main thrust of the organization, the drawn out crucial the organization additionally is the guide that moves the promoting goals and strategies that advertisers need to hold fast to in their exploration. There are a few occasions of the2. Assess the qualities of the association through a showcasing/inner review. Qualities and shortcomings ought to be distinguished through review to know about competitors’ potential activities against one. Foreseeing their moves dependent on organization information and statistical surveying is a significant strategy that empowers company’s to assemble and change their own advertising structure. Once in a while organizations have been fruitful not on the grounds that they had outstanding advertising programs, but since they had the option to think of progressive administrations dependent on the assessment of their competitors.3. Know your customerThe client is the principle substance without which the motivation behind creation, showcasing and every single other movement is lost. Along these lines, advertisers need to know their clients inside and out †their socioeconomics, mystic and examples in their buying propensities. 4. Build up a lot of advertising objectives and objectivesEvery promoting program is made to accomplish certain things †these are the objectives and targets. These ought to be characterized in advance with incredible consideration so the motivation behind the advertising project can be justified.5. Structure moderate and mass intrigue advancement strategiesCosts caused in promoting efforts can be enormous and hence ought to be examined. Advertising efforts must be as low in costs as could reasonably be expected but then should concentrate on an enormous fragment of the objective market following the various types of showcasing †print, TV, radio and different types of promoting including web advertising relying upon the item or administration (Buerstatte, 2004).6. Build up a showcasing planA advertising plan is a complete program with itemized postings of the promoting approach, crucial, and goals just as the instruments that will be utilized for the promoting of items. The idea of the showcasing plan is additionally reported in this deliverable.7. Execution EvaluationEvaluation bit by bit of the advancement of the exercises and procedures in the advertising stages is fundamental. This distinguishes whether the advertising stages are incorporated with each Question 2: Describe the components of a client driven showcasing technique and blend and the powers that impact it. Answer: Customer is the ruler, is a notable saying both among advertisers and nonmarketers. Individuals comprehend the significance of the client in the advertising cycle. Consequently advertising techniques and crusades ought to be engaged and coordinated towards the buyers (Donaldson, 2008).The blend for a client arranged showcasing methodology comprises of a legitimate division idea, item situating, suitable objective promoting and item separation. In spite of the fact that these are itself expansive ideas, the center is to recognize the purchaser profile, analyze it into different parts and use it to base the situating, separation and target advertise strategies.For model, Mountain Dew targets youths and individuals ready to go wild and have an overdose of insane fun. Understanding this as the general profile of its purchaser, its commercials are totally confined on this topic where individuals are indicated performing insane tricks. The item has been separated based on the shopper showcase, its objective market is a smaller bundle of â€Å"very silly† individuals and its ads are equipped towards a specific fragment of the customer populatio n.Considering the above realities, it gets essential to comprehend the components that influence a purchaser promoting methodology. Since buyers have differing tastes as far as the scattering regarding age, pay and other demographical factors, it is fundamental for advertisers to utilize their â€Å"sixth sense† in creating purchaser situated procedures on the off chance that they need individual and hierarchical achievement (Donaldson, 2008).A client driven promoting methodology ought to be affected by the accompanying factors:Fashion: What was once hot is today the most obsolete and giggled upon outfit. Such is the example of style and changing inclinations among the buyer advertise. Nothing stays perpetually and advertisers comprehend this better than any other individual. Steady advancement and statistical surveying is important to make changes to effective customer arranged advertising ideas with the goal for them to hold their wins.Demographics: Without data about socioeconomics, advertisers would be like people discovering needles in a heap of roughage. It would be an entirely outlandish errand to l ocate the correct client and all showcasing financial plans would wander off. In this manner utilizing distributed national reports and self research associations get some answers concerning the demographical idea of the market and draw out their items joined by proper promoting techniques (Etzel, Walker Stanton, 2000).Psychology and Buying Behavior: An adolescent purchasing a razor is a lot of not the same as a moderately aged man purchasing the equivalent. Advertisers accept that the youth is assessing razors and accordingly would pay more to pull in him than draw in a moderately aged man. This is on the grounds that moderately aged individuals generally follow a methodical and steady purchasing behavior while adolescents will in general make a special effort more than every so often to check out another item or two to fulfill their interests. Question 3: Describe the natural powers that influence the company’s capacity to support its clients. Answer. Aside from the inner smaller scale natural factors that cause disappointment, there are six significant large scale ecological components that can mess up associations in serving their clients completely. The inner condition of an association is influenced by providers, promoting middle people and innovative arrangements suppliers (the advertisement originators) (Czerwonka, 2008). At the point when we talk about the capacity of a firm to meet its customers’ prerequisites and requests, we need to comprehend the idea of value also. Quality is characterized as the degree to which client prerequisites coordinate the structured item. This is anyway an obscure definition which can't be taken into full trust in a purchaser showcase situation. For instance, a tire might be worked to the consumers’ necessities but it may not be sufficiently sturdy to â€Å"satisfy† the customers’ needs (Donaldson, 2008).When talking about the six significant smaller scale natural powers that hamper associations from contacting their clients completely, it ought to be recollected that it is the nature of administration that is commonly influenced much of the time. Amount is commonly influenced just when an interest exists in surplus for a specific item or administration for different reasons. The six elements are as per the following: Social Cultural Segment Financial Political Characteristic Mechanical (Etzel, Walker Stanton, 2000) Socio and social variables are naturally a factor that hinders firms in coordinating the desires for their clients. The Coca Cola notice disappointment in the Gulf where the sponsor neglected to perceive the etymological distinction in the middle of English and (Arabic is perused from option to left) was an incredible learning exercise for marketers.Demographical changes because of globalization and quick development rates have prompted more up to date fragments in the market who have modified necessities. For instance, the telecommuter was not known about 20 years prior. What's more, today, tele-working is among the quickest developing callings over the globe †this has made an interest flexibly hole which firms presently can't seem to meet by offering tweaked items. Along these lines showcasing divisions need to comprehend the changing socioeconomics and afterward appropriately plan for more current advancements, items and services.Financial circumstances have consistently been center restricting elements. Directly from the issues of financing to liquidity and credit issues, firms are confronted with development and restitution problems if the earth is truly unsteady and financially not practical. Models remember flimsy monetary conditions for Kenya and Philippines prompting a few organizations keeping up their the norm and not going for imaginative thoughts in order to moderate their profits.Political shakiness and disturbance are national level conditions which must be evaded once they happen. Foresee

Meeting with my advisor

Meeting with my advisor Today, I met with my advisor, and like all of my meetings with my advisor, I was reminded of how incredibly useful advisors are. I also am super excited for next semester. Ive been really enjoying all my of classes this semester, but I always get excited about the coming semester. For me, a new semester is the best opportunity to embrace learning new things! At my meeting with my advisor, I found out that after next semester, all of my Gen Ed classes will be complete. I know I have said this before, but Ive really enjoyed all of my Gen Eds. Theyve proven to be very interesting and have really opened my eyes to new things. One of the things that I wish I could go back and tell myself is to not think that Gen Eds are boring. Sarah Class of 2018 I'm from Grand Rapids, Michigan. I'm majoring in Communication in the College of Liberal Arts and Sciences.

Source of Finance - 3105 Words

Table of Contents I, INTRODUCTION: II, TASK: TASK 1: 1. Identify and describe the various sources of finance 1.1 Internal source 1.2 External sources 2. Assess the implication of the difference sources of finance related to risk, legal, financial and dilution of control and bankruptcy 2.1 Issue debt 2.2 Issue equity 3. Select appropriate sources of finance and make recommendations on the best ways of raising finance TASK 2: Part 1: Assess and compare various costs involve with each source of finance to Vale filters Limited Part 2: Prepare cash budget for Vale filters Ltd. And discuss the importance of financial planning 2.1 The importance of financial planning 2, Prepare cash budget III, APPENDIX IV, REFERENCE†¦show more content†¦It is often short-term finance and creditor require on time payment. - Grants: Grants is often provided by government . Business can get capital from government grants without repayment. However, government grants are only available for only some special business with high unemployment rate. - Venture capital: It is a source financed by the venture companies that feel the profit through investment to business. They also affect the operation of business and get profit through enterprise, such as dividend as shareholders. - Business angel: They are often rich people or entrepreneurial who invest to the new potential business by debt or equity. They often invest to start up and early stage business. - Factoring and invoice discounting: Factoring: is allowed for the company which is selling by credit by factors. Factors give the businesses cash in advance (often up to 80% of the value of the debt) whether the debt is unsecured. They also supply the debtor management service that control and collect the debt from business debtors if business pay fees for them. Invoice discounting: is also provide cash for business through purchase a selection of invoices with discount but business have to collect debts for them. It is only available for reliable and well-established companies - Leasing: is provided by leasing companyShow MoreRelatedsources of finance1286 Words   |  6 Pagesï » ¿Sources of finance Some sources of finance are short term and must be paid back within a year. Other sources of finance are long term and can be paid back over many years. Internal sources of finance are funds found inside the business. For example, profits can be kept back to finance expansion. Alternatively the business can sell assets that are no longer really needed to free up cash. External sources of finance are found outside the business. For example from creditors or banks. InternalRead MoreSources of Finance1496 Words   |  6 PagesP3 Introduction For this task I will be considering the sources of finance I will need for my company. Why might a business require finance? A business may require finance because they can either: †¢ Be setting up a new business and they do not have enough money to start up. †¢ They may need new equipment to help make the business expand and make more profit. †¢ Or they may even want to replace old machinery. †¢ They may want to move there store to a better location that might benefit thereRead MoreSources of Finance1111 Words   |  5 PagesIntroduction In this essay we will be looking at different sources of finance available for different type of business. Also will be looking at the definitions of different type of sources of finance, the advantages, disadvantages and also giving reasons to why different sources of finance was chosen for the given case studies. Types of sources of finance Bank Loan – is a long term loan and will often be for large amount of money for starting up a business or to expanding. Business will agreeRead MoreSources of Finance972 Words   |  4 PagesSources of finance What are the main sources and finance for UK firms and why? All firms need some kind of financing. Access to finance may differ considerably from firm to firm depending on what type of business they are and how big/known they are; Sole Trader, Public Limited or Private Limited Company. There are both INTERNAL and EXTERNAL sources of finance. Finance can be short, medium or long term. Internal sources of Finance: 2 main types 1) Funds from the owner(s) and the familyRead MoreSources of Finance1627 Words   |  7 PagesUnit 2: Business Resources Assignment 4:P4 Sources of Finance Internal Sources of finance Owners’ savings- the owner of a business often has to use their own personal savings to start a business, particularly if they are a sole trader. This is because banks may not be willing to take a risk and invest in them. Savings are a good source of finance for a business, as interest does not need to be paid to someone else while the money is being used, and the business remains totally in theRead Moresources of finance2021 Words   |  9 Pagesï » ¿Question:   IDENTIFY THE SOURCES OF FINANCE AVAILABLE TO A BUSINESS Answer: There are a number of ways of raising finance for a business. The type of finance chosen depends on the nature of the business. Large organisations are able to use a wider variety of finance sources than are smaller ones. Finance is not just needed when starting a new business, but you may be required to seek further finance even if you’re business is well established i-e further expansion, RD, new product launchRead MoreSources of Finance1934 Words   |  8 PagesSources of Finance The financing of every business is the most fundamental aspect of its management. Get the financing right and the company will have a healthy business, positive cash flows and ultimately a profitable enterprise. The financing can happen at any stage of a business s development. On commencement of your enterprise the business entity will need finance to start up and, later on, finance to expand. Finance sources may be internal or external but they may also be short, medium orRead MoreSources of Finance7811 Words   |  32 PagesIntroduction - Sources of Finance Introduction to the Sources of Finance resource. Sources of Finance Introduction This resource is designed for use with Accounting courses at A level. This resource is relevant to the following: * AQA Module 5, Section 14.5: Types of Business Organisation, Sources of Finance * OCR Module 2505, Sections 5.3.2 and 5.6.2 For many businesses, the issue about where to get funds from for starting up, development and expansion can be crucial for the successRead MoreSources of Finance4664 Words   |  19 PagesSection 1 – Sources of Finance There are 4 main types of business ownership: †¢ Sole trader †¢ Partnership †¢ Private limited company (Ltd) †¢ Public limited company (Plc) Each of these types of business needs to raise finance for capital investment Sole Trader This is a business that is owned by one person. Sole Traders are responsible for raising all the finance to set up and run the business. Usually a sole trader would be for a small business/ (businesses with a flatRead MoreInternal Sources Of Finance And Finance Essay2349 Words   |  10 PagesInternal sources of finance: Internal sources of finance are funds that arise from within the business such as profits as they can be retained to grow the finance and selling assets. Retained profit Retained profit is the money kept in the company after paying dividends. It is used to reinvest in the business or to pay debt. It comes by a business after it makes profit and is kept separate to use in other ways such as expanding the business by developing new buildings or certain areas, buying new

The Germ Theory - 850 Words

â€Å"In the light of the germ theory†¦[d]jseases are to be considered as a struggle between the organism and the parasites invading it.† The aforementioned quote, by Henry Gandle, a professor of physiology at Chicago Medical College, characterizes the germ theory through the collective human struggle against disease inducing microorganisms. In a period of discovery, where the nature of various germs and diseases were brought to light, the common conception encompassed a war between humans and diseases; this analogy to a war implicates a united effort on the part of the human race in battling these dangerous microorganisms. Tomes writes in The Gospel of Germs not only of the different scientific discoveries associated with the emergent germ†¦show more content†¦In the Southwood-Smith excerpt, he depicts the ideal method of quarantine as influenced by â€Å"neither ancient prejudices, nor an excess of anxiety to avert possible danger, should induce the continuan ce of restrictions inessential to their object.† In other words, Southwood-Smith acknowledges not only the active societal biases, but also that these partialities can enter the medical realm through prejudicial treatment of disease. A society with such prominent discrimination, including in those with medical clout, has the capacity to formulate racial and class bias in germ theory that is but an extension of already existing anxieties concerning other ‘less well off’ members of society. Rather than bringing people together in response to the fear of disease, quarantine had the capacity to create a more segregated society praying on the middle and upper-class fears of disease spreading through the other, discriminated members of society. African Americans are among the societal groups that lacked the societal cohesiveness Tomes attributes to the gospel of germs insofar as they remained segregates and relatively uneducated on the new germ theories in comparison t o other members of society. In an

Elective Banking Management Part Free Essays

string(57) " be the incremental growth in business for their branch\." Explain the factors the branch manager has to take into account at the time of preparation of the budget. 4. Write an essay on Globalization in the Banking Industry. We will write a custom essay sample on Elective Banking Management Part or any similar topic only for you Order Now 5. Examine the economic functions of banks. 6. Explain Fractional-reserve banking. 25 x 4=100 marks Answers 2. Explain performance budgeting exercise as a tool for deposit manipulation. Performance budgeting can be defined as budgeting for the performance of an individual or an organization. In the context of an organization what is required is to set some broad objectives for the organization at the top management level and motivate the employees in such a manner that they also feel like setting some individual goals, which are nevertheless complementary to the goals for the organization. Performance budgeting exercise is elucidated in the below steps: 1. Defining the Commanding Area: The concept of command areas is a highly dynamic one, having relevance only to a particular budget year. This means that the command areas of branch need not be the same for all years on the other hand, it should be changed as and when the branch has tapped the full potential of the area. Again there is another wrong concept about the command areas that it should be geographically contiguous areas around the branch. Actually the command areas of a branch should be the possible main areas, which the ranch can effectively serve during the particular years, as felt by the branch manager and the staff. Thus branch can have as its command area, a whole village, as war, as street of a town, a big building housing several offices, etc. Of course this does not mean business from other areas is not welcome but only that our main thrust will in this area. 2. Environmental Scanning and Market Segmentation: Environmental scanning really means scanning the branch environment, both inside and outside. Often we tend to ignore the internal factors as we understand it today, this involves identification of the market and its attention, the evaluation and selection of this market after it is segmented. But let us try to look at it from a different angel. A. The Internal Factors: There are three important factors to be considered under this head they are: Employees of the branch – human resources Non human resource – infrastructure Top management – the controlling offices It is a fact the branch management can realize its goals only through the active co-operation of the staff working in the branch and the administrative offices. There a fair knowledge of the nature of staffs their aspirations and robbers will help branch manager to take them along with his as team to achieve the goals. Naturally, he should interact with them as frequently as possible. The manager should also try to create good rapport with higher authorities. For this is should properly communicate with them regarding this action plan and feed them with sufficient data at the appropriate time. He must work in close liaison with them so that he can strengthen his hand and try to avoid origination conflicts and help himself to take quick and sound decisions consistent with the policies of the bank. Then comes the assessment of the infrastructural facilities available in the branch. The goals set for the branch should be possible to be achieved with the available infrastructure thus we can very well see that non achievement of budgetary goals cannot be ascribes to staff shortage, if the spirit of the performance budget is properly understood. B. The External Factors: Four important factors under this head National plan objectives and government policies Aspirations and expectations in the command area Customer satisfaction Handling competition from rivals The national plan objectives are normally given in the policy guidelines book published by the central office, planning department. These should be through at length. The prime function of bank is to accept deposits from those with surplus money and lend it to those who need it for productive investment. This necessitates the identification of pockets of potential deposit on the one hand and identification of person who need advance for productive purposes, on the other. Collection of these data is very important and it has to be done methodically. These data can be used to: 1. Segment the market according to various parameters. 2. Prepare bankable schemes for various segments and . It is better that these data are collected and kept updated frequently. Regarding customer satisfaction, we have to ensure that the primary motto in formulating any scheme is the satisfaction of the customer. We have to worry about the competition from other financial institution and fellow bankers. For this we have to know the terms, nature and cost of services rendered by our competition and also their marketing strategies. Apart from all these, the branch manager should try to: Develop personal inclination to take safe risks. Create a climate of confidence and trust within the branch Establish personal rapport with the higher authorities and Take quick an sound decisions 3. Studying the past trend in business growth: A study of the past trend in the business growth of the branch helps the manger to take as stock of the inherent strength and weakness of the branch, the staff members and its location, etc. This must be done to mark the budget realistic. There is no point in setting a budget, which IS very ambitious for a branch with limited resources. . Preparation of Tentative Budget: After doing all the above exercise, the branch manager should attempt to rooter the incremental growth in business for the next year. It is at this stage that he should seek the reviews of all his staff members in agreement and frank atmosphere. Preferably a meeting of all the staff members should be called in which he can present all the details. It should then be left to the group to decide how much should be the incrementa l growth in business for their branch. You read "Elective Banking Management Part" in category "Management" In such a meeting, the leadership qualities of the manger should be made use of, so as to elicit the view of each and every staff member. Apart from this the manager should patiently listen to the view so everybody. It all the certain views and suggestions are not acceptable to the group, the members should be convinced of the reason why they are not acceptable. Once sufficient deliberations have been gone through in the meeting a consensus decision in regard to the incremental growth in the business in each sector like deposits, advances, profit etc. Ill be taken. There is important advantage in formulating the budget in this way. Because the goals have been set jointly, every member for the staff will be totally committed to the goals and will be striving hard to achieve them. As a result, he budge of the branch will not be treated as the branch managers budget but will recognized as a branch budget. 5. Participating in the Budget Meeting of the Region: The branch manager present t his draft budget to eh regional manager in the budget meeting convened by the latter for the entire region. In this meeting, the regional manager present the macro level scenario of the region and invites suggestion and views of the individual branch manages regarding their contribution to the achievement of the incremental business growth for the regions for the next year. The draft budgets brought by the individual branch angers are the discussed and the total business for the entire regions is arrived at. The figures furnished by the individual branches are not simply accepted by the regional manager. The branch managers will have to us passionate their projected business figures to the satisfaction of the regional manager. . The Final Budget Meeting at the Branch: After the regional manager has finalize the regional budgets in the above meeting, the branch manager has to convene another staff meeting in his own branch to inform the staff member s about the details of the final budget room the draft budget, the branch manager should explain the position to all the staff members to their satisfaction. In this way all the staff members are very well aware of the task. In this meeting some notion plans can also be chalked out. 7. Review Meeting at Branch Level and Regional Level: Once the budget year starts, the real action begins. Success of any planned project depends on large extent on the periodic review of the progress made. The entire yearly budget can be divided into quarterly or half yearly budgets. In the review meetings half of the regional level, the performance of each ranch will be reviewed visit–visit the targets; For making the regional review meetings more meaningful, it is advisable to attempt such review meetings at the individual branches by conducting staff meetings. This should be preferably done before the regional review meetings so that the branch manager is ready with all the necessary details when comes for the regional meeting specifically in regard to the reasons for variances, if any from the budgetary goals. 3. Explain the factors the branch manager has to take into account at the time of preparation of the budget. At the time of preparation of the budge, the branch manager has to take into account the following four factors: 1. Bank’s corporate goals 2. Rib’s ground rules 3. Government of Indian’s Directives 4. Expectations of the people in the command area 1. Bank’s corporate goals The corporate goal of the bank, as decided by the top management, forms the basis of the performance budget. As such it is necessary that these are clearly spelt out and advised to the branches well in time. In some banks these are given in the booklet, â€Å"Policy Guidelines†, brought Out by the central office every year. This provides the branches the broad guidelines, covering the economic scenario for the country and the bank’s expectations of the incremental growth in the business during the coming year. 2. Rib’s Ground Rules There are certain ground rules prescribed by the RIB, which should govern all the activities of the bank. They are summarized below: a. No bank shall pay interest on current account. B. No bank shall pay countervailing interest on any current accounts maintained with it by its borrowers. C. No bank shall discriminate in the matter of rate of interest paid on deposits, between one deposit and another, accepted on the same date and the same maturity, whether such deposits are accepted at the same office or at the different offices of the bank. D. No bank shall pay brokerage on deposits in any form to any individual, firm, company, association, institution or any other person, except I) Commission paid to agents, employed to collect door to door deposits under special schemes ii) Inexpensive gifts costing not more than the amount prescribed by the RIB in this regard from time to time. Ii) Incentive granted to staff members as approved by RIB from time to time. E. No bank shall violate the other instructions issued by RIB from time to time, on payment of interest and related aspects in accepting of deposits and granting advances. 3. Government of India Directives The government of India issues directives from time to time to banks in the matter Of providing credit to the pr iority sector and other specified groups, and implementation for various poverty alleviation programs. These are kept in mind at the time of drawing the credit plan for the ensuring year. 4. Expectation of People of the Command Area Over all above all these, the branch manager at the time of drawing up the actual budget has to take into account the expectation of the people inhabiting the command area in regard to their credit needs and also other types of services, especially now that we are going to adopt the set-vice areas approach in all our activities. Answer: Fractional-reserve banking is the practice whereby a bank holds reserves (to satisfy demands for withdrawals) that are less than the amount of its customers’ deposits. Reserves are held at the bank as currency, or as deposits in the bank’s accounts at the central bank. Because bank deposits are usually considered money in their own right, fractional-reserve banking permits the none supply to grow beyond the amount of the underlying reserves of base money originally created by the central bank Fractional-reserve banking is the current form of banking practiced in most countries worldwide. Fractional reserve banking has been said to violate Islamic principles of ownership. Working of Fractional Reserve Banking In most legal systems, a bank deposit is not a bailsmen. In other words, the funds deposited are no longer the property of the customer. The funds become the property of the bank, and the customer in turn receives an asset called a deposit account (a checking or savings account). That deposit account is a liability on the balance sheet of the bank. Each bank is legally authorized to issue credit up to a specified multiple of its reserves, so reserves available to satisfy payment of deposit liabilities are less than the total amount which the bank is obligated to pay in satisfaction of demand deposits. Fractional-reserve banking ordinarily functions smoothly. Relatively few depositors demand payment at any given time, and banks maintain a buffer of reserves to cover depositors’ cash withdrawals and other demands for funds. However, during a bank run or a generalized financial crisis, demands or withdrawal can exceed the bank’s funding buffer, and the bank will be forced to raise additional reserves to avoid defaulting on its obligations. A bank can raise funds from additional borrowings (e. G. , by borrowing in the interbrain lending market or from the central bank), by selling assets, or by calling in short-term loans. If creditors are afraid that the bank is running out of reserves or is insolvent, they have an incentive to redeem their deposits as soon as possible before other depositors access the remaining reserves. Thus the fear of a bank run can actually precipitate the crisis. Many of the practices of contemporary bank regulation and central banking, including centralized clearing of payments, central bank lending to member banks, regulatory auditing, and government-administered deposit insurance, are designed to prevent the occurrence of such bank runs. Economic Function of Fractional Reserve Banking: Fractional-reserve banking allows banks to create credit in the form of bank deposits, which represent immediate liquidity to depositors. The banks also provide longer-term loans to borrowers, and act as financial intermediaries for those funds. Less liquid forms of deposit (such as time deposits) or riskier lasses of financial assets (such as equities or long-term bonds) may lock up a depositor’s wealth for a period of time, making it unavailable for use on demand. This â€Å"borrowing short, lending long,† or maturity transformation function of fractional-reserve banking is a role that many economists consider to be an important function of the banking system. Additionally, according to macroeconomic theory, a well-regulated fractional-reserve bank System also benefits the economy by providing regulators with powerful tools for influencing the money supply and interest rates. Many economists believe hat these should be adjusted by the government to promote macroeconomic stability. The process of fractional-reserve banking expands the money supply of the economy but also increases the risk that a bank cannot meet its depositor withdrawals. Modern central banking allows banks to practice fractional-reserve banking with inter-bank business transactions with a reduced risk of bankruptcy. Money Creation Process There are two types of money in a fractional-reserve banking system operating with a central bank: Central Bank Money: money created or adopted by the central bank regardless Of its form -? precious metals, moodily certificates, banknotes, coins, electronic money loaned to banks, or anything else the central bank chooses as its form of money Commercial Bank Money: demand deposits in the banking system; sometimes referred to as â€Å"checkbook money† When a deposit of central bank money is made at a bank, the central bank money is removed from circulation and added to the commercial banks’ reserves (it is no longer counted as part of MI money supply). Simultaneously, an equal amount of new commercial bank money is created in the form of bank deposits. When a loan is made by the commercial ann. (which keeps only a fraction of the central bank money as reserves), using the central bank money from the commercial bank’s reserves, the ml money su pply expands by the size of the loan. This process is called â€Å"deposit multiplication†. Regulatory Requirements: Government controls and bank regulations related to fractional-reserve banking have generally been used to impose restrictive requirements on note issue and deposit taking on the one hand, and to provide relief from bankruptcy and creditor claims, and/or protect creditors with government funds, when banks defaulted on the other hand. Such measures have included for examples such as: Minimum required reserve ratios (Errs) Minimum capital ratios Government bond deposit requirements for note issue 100% Marginal Reserve requirements for note issue and Sanction on bank defaults and protection from creditors for many months or even years The Banking Sector has for centuries now formed one of the pillars of economic prosperity. Indeed history provides us with some starting information regarding how banks provided finance for imperialist ventures in newly acquired colonies. Over time banks have formed an important part in providing an avenue for both savings and investments. Land, Labor, capital and entrepreneurs are the basic economic resources available to business. However, to make the use of these resources, a business requires finance to purchase of the land, hire labor, pay for capital goods and pay for individuals with specialized skills. Detail role of functions of banks in economic development is given below: Trade Development The banks provide capital, technical assistance and other facilities to businessmen according to their need, which leads to development in trade. Agriculture Development Banks finance the most important sector Of the developing economics I. Agriculture, short, medium and long-term loans are provided for the purchase of seeds and fertilizer, installation of tube wells, construction of warehouses, purchase of tractor and thresher etc. Industrial Development The countries, which concentrated on industrial sector made rapid e conomic development. South Korea, Malaysia, Taiwan, Hong Kong and Indonesia have recently developed their industrial sector with the help of banks. Capital Formation Banks help in increasing the rate of capital formation in a country. Capital formation means increase in number of production units, technology, plant ND machinery. They finance the projects responsible for increasing the rate of capital formation. Development of Foreign Trade Banks help the traders of two different countries to undertake business. Letter Of credit is issued by the importer’s bank to the exporters to ensure the payment. The banks also arrange foreign exchange. Transfer of Money Banks provide the facility of transferring funds from one place to another which leads to the growth of trade. More Production A good banking system ensures more production in all sectors of the economy. It increases the prod auction capabilities of the economy by threatening capital structure and division of labor Development of Transport The banks financed the transport sector. It has reduced unemployment on one hand and increased the transport facility on the other hand. Remote areas are linked to main markets through developed transport system. Safe Custody The business concerns and individuals can make themselves tension free by depositing their surplus money in banks. The banks also provide them the facility of lockers to keep their precious articles and necessary documents safe. Increase in Saving Banks persuade the people to save more. Different saving schemes with attractive interest rates are introduced for this purpose. Number of bank branches is opened in urban and rural areas. Construction of Houses Banks provide credit facilities to their customers for the purchase or construction of houses. Assistance to Government By providing funds to government for development programs, the banks share the government for economic stability. How to cite Elective Banking Management Part, Essays

Resort and Spa Management Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Resort and Spa Management Answer: Introduction: The study is enlightened with the concept of resort and spa management procedures in the present business market. In this particular study, some current issues and challenges that the spa and resort industry is confronting in present are manifested well. Moreover, a number of recommendations are brought out in order to resolve those challenges and complexities. Apart from this, some emerging trends is elaborated to make understand about its affect on the resort and spa business in future. The prime objective behind resort and spa management is to deliver higher quality of service to the customers and make them enjoy their leisure time. Resort and Spa Management: Current issues and Challenges As opined by Lo, Wu and Tsai (2015), the resort and spa industry is currently facing major issues and challenges for changing business environment and increasing global competition. One of the major problems they confront is related to escalating renovation and construction cost. Whereas, Lin (2015) argued that changing and merging technology is the prime reason behind the difficulties the industry face in present. As stated by Lagrosen and Lagrosen (2015), lack of the skilled workers is the reason that they fail to meet the expectations of the customers in enjoying their leisure time. As the growth of resort and spa business relies less on capital and more on its human resources. Vezzoli et al. (2015) has supported the viewpoint that nowadays renovation is required in keeping the same business position in the market. The increased capital requirements increases the reconstruction cost. Many of the spa and resort businesses that have good market position tend to improve the physical condition of the service area. This primarily helps them to provide visual satisfaction to their customers. Reconstruction also causes escalating the operating cost that results more expenses and less saving as well as less investments. It has been found that the management bodies of the resort and spa industry confront difficulties in managing the operating cost with renovation and hence expenses overlap the income. Resort and spa industry is facing complexities in finding the ways to restrict the expenditure without sacrificing their service quality. In managing the new business operations, the managers need to think the ways more effectively. Failure in proper management results generating low degree of competitive advantages. This further results less income as well as less profit which acts as hitches in the path of success. As per the statement of Enderwick (2013), the business system of resort and spa industry is rapidly moving towards internet based technology. Changing and merging technology allows the managers to operate the business in more easier and flexible way. However, the rapid change in technology makes the business confront challenges in operating the new system properly and effectively. This is the reason that lies behind the failure of proper operational management in resort and spa industry. As people come for enjoying their leisure time to the fullest extent through having their services, their expectations lies on the highest level. Through effective utilization of the new technology, they can fulfill customers' expectations. Most of the businesses fail to identify as well as quantify the business benefits from proper integration of technology. It has been found that most of the current systems and business operations are under-utilized. Hence, they fail to fully integrate as well as o ptimize the new business systems. In the emerging technology period, large number of new business is entering in the existing market. This increases the competition for the firms that are already existed in the market. As the new firms start up their business, they can easily incorporate new systems that deliver strong competition to the existed firms. It is difficult for the existed firms to restructure the entire system through integrating new technologies. On the other way, Torres and Kline (2013) represented completely a different viewpoint that demonstrates human resource as the most powerful assets that the resort and spa industry have. Due to lack of skilled workers, they fail to retain its existing customers and attract the new ones. The service of this particular industry highly depends on numeracy and literacy skills as well as customer handling skills of the workers. Their ineffective effort in pursuing the business goal might create more challenges in the present scenario. In this twenty first century, the ways of thinking of the customers has changed from the ways they used to do the same in 90's. Therefore, the service providers are always in the stage of constant change in strategic policies that help to attract the customers. Apart from this, shrinking or compression of the workforce along with union issues affects the working environment. This changing labor condition decreases the effective role of the service providers. Besides, it has been seen that some of the businesses provide less benefit to the service providers in order to restrict the benefit cost. This causes increasing employee grievances and lowering the service quality. Thus, the spa and resort industry confronts challenges in balancing the entire expenditure along with delivering satisfaction to both its employees and customers. However, it has been found that these are the major challenges and difficulties the resort and spa industry confronts in the present scenario. The challenges mentioned above are interrelated with other. The emerging technology raises the need of adopting new system in order to gaining comparative advantages. Further, the new system requires reconstruction of the existing business systems and operations that increase the cost. As the technology have been changing rapidly, the business operations and the working environment changes constantly. As a result, the service providers are divorced from the roles and procedures and hence it affects the employability skills of the workers which decline the service quality. Recommendations After analyzing the current issues and challenges that the resort and spa industry confronts, the study brings out a number of recommendations. Through discussing about the recommendations, the study addresses the pathways of resolving the problems. It is important to mention that the recommendations would cover each of the challenges that are discussed in the above section. Recommendation for escalating renovation and construction cost: The resort and spa industries are in financially challenging environment as the renovation and construction cost increases gradually. In this context, it is suggested that the management bodies of this industry should make proper budget plan and monitor the operations as per the budget. The budget plan is the road map of the business operations that direct the entire process in a certain way (Zimina, Ballard and Pasquire 2012). Before making budget plan, the historical results and the current cost trends should be considered in order to predict the future financial health. This way, the future financial result will possible to be outlined and thus they can balance the income and expenditure. Apart from this, the managers should pursue proper budget management process so that the operations would not exceed the amount set in budget plan (Lahdenper 2016). Recommendation to deal with changing and merging technology: Improper integration of modern technology is the prime reason behind confronting difficulties in operating the new system. It is recommended that the spa and resort industry should hire experts and provide training programs to its service providers. The employees should be provided training programs of using the new system in more effective way by the experts (Mithas, Krishnan and Fornell 2016). Moreover, the training programs will help to motivate the employees to use the modern technology and improve their employability skills. It is mentioned that the modern technologies are incorporated but under-utilized in most of the spa and resort businesses. The hired expert would direct the service providers in utilizing the new techniques to the fullest extent (Ostrom et al. 2015). Recommendation to deal with lack of the skilled workers: In the above section, it has been suggested that the employees should be trained by hired experts that would improve their employability skills. Moreover, the study suggests through employing new workers who have high skill as well as experience, the industry can improve their entire labor performances. Besides, the employees should analyze the changes in the choices and preferences of the customers as the service providers are the one who directly communicate with the clients. The study further suggests the employers should provide more benefit packages to the employees in order to motivate them in delivering quality service to the customers. The employers should enhance the customers and clients satisfaction without maximizing the cost (Devambatla and Nalla 2015). Analysis of emerging trends within resort and spa industry In this particular section, the study demonstrates five emerging trends in the resort and spa industry. The customers want more mobile accessibility As per the statement of Ramos et al. (2015), huge number of consumers use smart phones and similar devices to take any kind of services. Therefore, nowadays it is essential to incorporate mobile technology in the business to move towards further steps. It has been found that most of the service industry improves their service quality through involving mobile technology. When the customers receive the service details in their mobile phones, they find it is easy to take the service. The resort and spa industry should allow point of sales payments through using smart phone devices. The customers want more health conscious resorts and spa services In this present century, the consumers become more conscious about their health and well beings. Most of the customers want to take services from the organizations that focus on wellness and healthy environment. The services that include healthy environment are in high demand. Therefore, the resort and spa industry needs to make their service environment healthier in order to attract more customers. The resort and spa are investing more in technology Hanson, Lind and Muendler (2015) opined that the organizations would able to gain comparative advantages and make growth through investing capital in incorporating technology. In this modern world, it is essential to operate the business in innovative ways. Sustainability It has been seen that people prefer to invest in the services which are environmentally friendly and green. Therefore, the resort and spa industry would need to invest more capital for the wellness in the working environment. Social media engagement Moncrief, Marshall and Rudd (2015) stated that the social media is one of the most powerful tools that the organizations take advantage of. The resort and spa industry should involve themselves more in the social media to keep the customers update about their services. Justification of the effect of the trends on future of the resort and spa industry Effect of incorporating mobile accessibility The researcher assumes that the more mobile accessibility would attract more customers. The organizations can represent their service in more attractive ways in the mobile software to grab the attention of the clients. As a result, the resort and spa industry would able to attain sustainable growth and development in the long run. Effect of creating healthier service environment As the customers become more health conscious, the healthy environment will able to attract large number of customers. Through paying more attention to the wellbeing of the customers and the clients, the resort and spa industry would able to provide additional benefit to them. This will attract both the customers and the new employees. The researcher expects that it would help the resort and spa industry to make sustainable growth. Effect of investment in technology The researcher assumes that the resort and spa industry might face increasing expenditure in the short run, but the investing in technology would reduce the cost in the long run. This would help the business to maximize their revenue through minimizing the cost. Effect of Sustainability In this context, the researcher assumes that sustainability would be beneficial in the long run. This would help to enhance their business more in both the domestic as well as global market. Effect of engaging social media engagements The researcher states that most of the customers crave for social media engagements. Thus, the resort and spa industry would able to stay connected more with the customers. Conclusion: The researcher concludes that the resort and spa industry is presently confronting several issues regarding escalating reconstruction cost, emerging technology use and lowering skills of the workforce. In this regard, the study brings out some suggestions to deal with these challenges. The study further describes five specific emerging trends in the industry along with the justification how it would affect the future of the industry. Bibliography Devambatla, L. and Nalla, D., 2015. An Approach to Improve Employability Skills: ebridge.Journal of Engineering Education Transformations,28(23), pp.131-138. Enderwick, P. ed., 2013.Multinational Service Firms (RLE International Business). Routledge. Hanson, G.H., Lind, N. and Muendler, M.A., 2015.The Dynamics of Comparative Advantage(No. w21753). National Bureau of Economic Research. Ibisworld.com.au. (2016). Market Research Reports Analysis | IBISWorld AU. [online] Available at: https://www.ibisworld.com.au/ [Accessed 17 Apr. 2016]. Lagrosen, Y. and Lagrosen, S., 2015, September. Entrepreneurial Learning for Quality and Competitiveness: A Study in the Spa-Industry. InEuropean Conference on Innovation and Entrepreneurship(p. 392). Academic Conferences International Limited. Lahdenper, P., 2016. Formularising two-stage target-cost arrangements for use in practice.International Journal of Managing Projects in Business,9(1), pp.147-170. Lin, I.Y., 2015. Marketing Global Luxury Spa and Wellness Trends, Experiences, and Challenges.Handbook of Research on Global Hospitality and Tourism Management, p.185. Lo, A., Wu, C. and Tsai, H., 2015. The impact of service quality on positive consumption emotions in resort and hotel spa experiences.Journal of Hospitality Marketing Management,24(2), pp.155-179. Mithas, S., Krishnan, M.S. and Fornell, C., 2016. Research NoteInformation Technology, Customer Satisfaction, and Profit: Theory and Evidence.Information Systems Research,27(1), pp.166-181. Moncrief, W.C., Marshall, G.W. and Rudd, J.M., 2015. Social media and related technology: Drivers of change in managing the contemporary sales force.Business Horizons,58(1), pp.45-55. Ostrom, A.L., Parasuraman, A., Bowen, D.E., Patrcio, L., Voss, C.A. and Lemon, K., 2015. Service research priorities in a rapidly changing context.Journal of Service Research,18(2), pp.127-159. Ramos, S., Armua, C., Arenal, A. and Ferrandis, J., 2015. Mobile Communications and the Entrepreneurial Revolution.Emerging Perspectives on the Mobile Content Evolution, p.32. Statista. (2016). Statista - The Statistics Portal. [online] Available at: https://www.statista.com [Accessed 17 Apr. 2016]. Torres, N.E. and Kline, S., 2013. From customer satisfaction to customer delight: Creating a new standard of service for the hotel industry.International Journal of Contemporary Hospitality Management,25(5), pp.642-659. Vezzoli, C., Ceschin, F., Diehl, J.C. and Kohtala, C., 2015. New design challenges to widely implement Sustainable ProductService Systems.Journal of Cleaner Production,97, pp.1-12. Zimina, D., Ballard, G. and Pasquire, C., 2012. Target value design: using collaboration and a lean approach to reduce construction cost.Construction Management and Economics,30(5), pp.383-398.