Month: November 2017


1) Visit the thamel. com, shop. muncha. com. Compare the product/service offerings and online customer experience available on the site. Thamel. com is an ecommerce business to customer model operating in Nepal with a motive of providing services to millions of diaspora families living abroad and connects them with their friends and families in their home country. also known as ”The Dot Com Company “, it started its operation in the year 2000. t has been recognized as one of the successful ecommerce site in a developing country like Nepal and has been providing numerous services in the field of online remittances , ICT and development. Offering partnership with different companies and institutions, Thamel. com has been providing numerous services to facilitate its customers. Out of the various products and services available in Thamel. com mostly are the gift items categorized as special birthdays, anniversaries and different cultural occasions. The gifts items include cakes, flowers, greetings, clothing, watches, mobiles, foot wears, pets etc. ith collaboration with Kumari Bank Limited, Everest bank Limited and Citizen Bank Limited, t has been providing different money transfer facilities from different part of the world to Nepal and not excluding different loan facilities to NRNs especially from Kumari Bank Limited as the sponsor bank for this site. It has also been emphasizing on the sale of Nepalese Khukuri affiliation with Nepalese khukuri house and Tibetan Thangka paintings from Thanka House in Thamel. The visit of site is comfortable and easy. It has broadly categorized its products and services to facilitate its customers.

With respect to these broad categories are the sub categories which include numerous products as per the choice of the customers. Munchahouse. com, established in April 2000 was later on changed to Muncha. com which is another Business to Consumer site providing variety of products and services. It has differentiated and grouped its offering on the basis of merchants and product categories. It provides the products similar to that of Thamel. com. This site has books available as well as movie ticketing which is not available in Thamel. com.

It has more offerings than Thamel. com. This site provides the service of online puja on behalf of customers as per their direction. Puja are performed by the Pandits of the respective temples as the site has established cordial relationship with them. The coverage of services is not only constrained to Kathmandu valley but also to over 120 destinations in Nepal. The objective of the site is to emphasize local electronic shopping conveniently from home. It provides almost all types of products and consumables that one person may acquire from the market. Like thamel. om, it has also affiliated its business with different merchants such as Benetton, Adidas, Nike, Bossini, Arrow and many others. Muncha. com has been a common platform for all these affiliation businesses to sell its product online. As soon as we enter the site, the products are all listed in their respective categories. Also the new arrivals are displayed in the home page so that the customer is updated with the new product offerings in the market. Since the grouping is done on the basis of merchants, the regular customer of those particular merchants has an ease in shopping for the regular purchases.

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Correlation Between Oil and Gold Silver Using Regression Analysis

Introduction Multi Commodity Exchange of India (MCX) is a demutualised commodity exchange with permanent recognition from the Government of India to facilitate online trading, clearing and settlement operations for commodity futures markets across the country. Since its inception millions of small and medium enterprises, corporate houses, exporters, importers and traders have benefitted from this nationwide electronic trading platform through its efficient and transparent price discovery and price risk management. MCX ranks No. 1 in silver, No. 2 in gold, and No. in crude oil. This document contains the correlation between change in prices of Gold, Silver and OIL with respect to each other. Over the last 50 years or so, gold and oil have generally moved together in terms of price, with a positive price correlation. The price of oil is poised to rise steadily as the supply/demand imbalance increases and the dollar declines, even if there are no supply disruptions, terrorist threats or geopolitical concerns to consider. As this happens, the price of precious metals will climb until they eventually catch up to their historic ratios.

The oil prices definitely determine the costs of a country’s economy. However, the degree of the effects may vary among different industries. High oil prices may dampen a country’s economy activities and stock market as a whole. The same theory applies to gold, silver prices too. Nevertheless, there should be some industries which benefit from high oil and gold, silver prices. Commodities Commodities for which analysis have been done using statistical methods as follows: Gold Silver Oil Main Data: Source: http://www. mcxindia. com/sitepages/realtimedata. aspx Month-YearCrude Oil (Rs.

In Lakhs)/LotsSilver(Rs in Lakhs)/LotsGold (Rs in Lakhs)/Lots Feb-2005 57630. 65 1311280. 45554577. 04 Mar-2005 132362. 24 1492926 692900. 02 Apr-2005 275824. 58 1391875. 57513792. 54 May-2005 403515. 63 1361542. 78696960. 07 Jun-2005 1025834. 1 1530791. 54848613. 35 Jul-2005 1955893. 08 1083342. 58994230. 52 Aug-2005 2740941. 84 1270751. 68953765. 9 Sep-2005 2688590. 89 1807579. 752414181. 78 Oct-2005 2010215. 72 2422228. 53 2199385. 07 Nov-2005 1450380. 75 2368303. 42608423. 58 Dec-2005 1029696. 14 3223181. 114894473. 86 Jan-2006 948291. 3 3494238. 836556802. 61 Feb-2006 1194250. 92 1938536. 585758718. 57 Mar-2006 1330380. 32 3896481. 397748336. 7 Apr-2006 738551. 33 7207205. 987475297. 91 May-2006 651179. 87 6071277. 8910150417. 59 Jun-2006 424607. 95 4258583. 657717549. 93 Jul-2006 614862. 02 3598952. 0810028712. 99 Aug-2006 836074. 24 4779742. 738074195. 27 Sep-2006 1275558 . 91 4868747. 288681169. 95 Oct-2006 1679149. 03 4294365. 097805387. 14 Nov-2006 1699163. 27 4379644. 67008183. 53 Dec-2006 1640493. 16 4676568. 524840012. 05 Jan-2007 2529211. 67 5585620. 845645149. 58 Feb-2007 2730830. 15 5529072. 426308839. 1 Mar-2007 3325369. 62 5944265. 017022558. 62 Apr-2007 2538789. 714388504. 494408963. 36 May-2007 2444850. 233873709. 885381761. 44 Jun-2007 2791854. 094038947. 144719385. 77 Jul-2007 3512484. 883539597. 94829088. 89 Aug-2007 4071387. 434387989. 954229747. 79 Sep-2007 3176323. 044222007. 295810271. 62 Oct-2007 4684780. 595239697. 558285033. 18 Nov-2007 5154108. 346628808. 9310386144. 1 Dec-2007 5153276. 594046305. 1 7759148. 93 Jan-2008 4671822. 027085404. 2216669925. 31 Feb-2008 4468044. 927292145. 0314260015. 15 Mar-2008 5275426. 229216822. 6713868565. 59 Apr-2008 5446577. 386453967. 3210250063. 6 May-2008 9230304 5560380. 310579252. 85 Jun-2008 11287930. 816558813. 8613113103. 07 Jul-2008 10822279. 058494148. 2320076066. 06 Aug-2008 7502891. 617401530. 0516215325. 61 Sep-2008 8953858. 658931120. 1421524528. 53 Oct-2008 6138823. 076926098. 7316871983. 04 Nov-2008 5377674. 754959711. 6713718417. 16 Dec-2008 6771616. 165100578. 9916907140. 81 Jan-2009 7938402. 136776131. 21051503. 32 Feb-2009 6849426. 387803863. 2123338041. 32 Mar-2009 10782770. 577749670. 7627457088. 19 Apr-2009 9238346. 155494679. 2415955495. 1 May-2009 9712546. 9 6631683. 5514787281. 64 Jun-2009 11477869. 19469903. 4613883118. 96 Jul-2009 12887544. 025741728. 9111108629. 67 Aug-2009 11608057. 387520559. 459010227. 1 Sep-2009 9671127. 2811028454. 0714016511. 44 Oct-2009 10851078. 810479374. 6613916734. 13 Nov-2009 10802349. 0112602072. 3619219496. 25 Dec-2009 9201447. 3611794199. 624053481. 19 Jan-2010 7473491. 3910482991. 4317801540. 04 Feb-2010 9057913. 3 11954575. 3419349438. 54 Mar-2010 9922781. 0610970500. 7619118760. 08 Apr-2010 10553054. 429914325. 4 16279630. 38 May-2010 12420880. 7212532951. 824456913. 5 Jun-2010 12771847. 3713589497. 7726575953. 6 Jul-2010 15920474. 9712518705. 4524563715. 66 Aug-2010 16887973. 813991490. 8419092471. 64 Sep-2010 16708048. 7614978165. 8820256126. 44 Oct-2010 8436735. 5413124421. 0112299375. 15 Mean, Median and STDDEV: Silver Gold Oil Mean5739683. 036395410. 7511241276. 8 Median4684780. 595585620. 8410150417. 6 Stddev4557905. 363595434. 417291780. 66 Correlation: Y-variable X-variable (Rs. In Lakhs)Univariate Stat FilterCrude Oil (Rs. In Lakhs)Gold (Rs in Lakhs)Silver(Rs in Lakhs) Crude OilMean5739683Correlation1. 0000. 79290. 8307 Crude OilMedian4684781p-value 0. 00000. 0000 Crude OilMinimum57630. 65Rank-Corr1. 00000. 78860. 8094 Crude OilMaximum16887974p[rank-corr] 0. 00000. 0000 Crude OilN69N696969 Crude OilP[Sign-Rank]0. 0000intercept 3960417. 96512634201. 4935 Crude Oil  Slope 1. 26850. 6553 Gold Mean11241277Correlation0. 79291. 00000. 8355 Gold Median10150418p-value0. 0000 0. 0000 Gold Minimum513792. 5Rank-Corr0. 78861. 00000. 8788 Gold Maximum27457088p[rank-corr]0. 0000 0. 0000 Gold N69N696969 Gold P[Sign-Rank]0. 0000intercept168162. 2032 1764630. 6611 Gold   Slope0. 4956 0. 4119

SilverMean6395411Correlation0. 83070. 83551. 0000 SilverMedian5585621p-value0. 00000. 0000 SilverMinimum1083343Rank-Corr0. 80940. 87881. 0000 SilverMaximum14978166p[rank-corr]0. 00000. 0000 SilverN69N696969 SilverP[Sign-Rank]0. 0000intercept-995290. 5246405216. 6160 Silver  Slope1. 05311. 6943 Conclusion:- There is a definite correlation established between the crude oil prices and gold where a ratio of 0. 7929/1 exists between the gold and oil prices which is a clear indicator that that without considering any other factors a 79 % increase in gold prices occurs with a 100 % increase in Oil Prices.

There is also a definite correlation established between the crude oil prices and silver where a ratio of 0. 8307/1 exists which is a clear indicator that that without considering any other factors a 83 % increase in silver prices occurs with a 100 % increase in Oil Prices. One can also observe that an 83 % increase in gold prices also relates to a similar increase in silver prices and vice-versa which indicates that gold and silver behave like substitute products p value

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Belbin Framework

TEAM ROLES: BELBIN FRAMEWORK Over the last few years, work teams have become a common and increasing characteristic of organisational life. Organisational successes, gains in productivity, quality and profitability are all attributed to team working Your Project Will Be Available In Short Order! – check my reference  . There are a number of factors which contribute to the performance of teams; for instance, the organisational structure within which the team works, the type of task to be accomplished, resources available and the characteristic of the team and the team members.

The last, the characteristics of team members, is the subject of this note. Common wisdom dictates that if the best people are put together, a high performance team would inevitably result. Traditionally, the most skilled people, therefore, would be selected for the team. This approach is still prevalent in most organisations and there are many examples: a committee which comprises distribution experts; and urban redevelopment task force which comprises the best architects in the field.

In all these cases, people are chosen for their membership of teams because of the job and task skills they possess; in other words, because of the functional role they perform. It has been found, however, that such an approach does not guarantee success. While it may be necessary that a team should comprise people who have relevant knowledge in the task area, it has been discovered that factors other than technical ability were more important in determining the success of a team. Dr.

Meredith Belbin, an UK based scholar in the field of management, applied the notion of behavioural roles to teams and identified nine sets of `team roles’. His concept of team roles was based on a study of successful and unsuccessful teams competing in business games. During a period of over nine years, a team of researchers based at Henley Management College, U. K. studied the behaviour of managers from all over the world, while they engaged in a complex management exercise. Their different core personality traits, intellectual styles and behaviours were assessed during the exercise.

In their observations, Belbin and his associates found that while carrying out team activities, managers tend to prefer particular behaviours. For instance, some were naturally imaginative – `good ideas’ people. Some were good at checking details to make sure that every thing has been covered. Yet some others made sure that decisions are implemented and the task carried thorough to completion. It was also observed that individuals displaying these roles exhibited similar behaviour patterns over time. In other words, they `stick’ to their roles.

These different clusters of behaviours were identified and then given names. For example, the `ideas person’ was given the name ‘plant’, the one who controls and organises the activities of his team – `co-ordinator’, the one who tries to ensure that tasks are carried through to completion – ‘Implementer’ and so on. Belbin’s research yielded nine team roles. A team role may be defined as the way we behave, contribute and interrelate when working in any team. It refers to `work preferences’ i. e. , the different ways that individuals approach tasks of the team.

In the management games and in the subsequent research conducted in the field over the past twenty years, it has been found that certain combinations of behavioural roles lead to more effective teams. For instance, a highly successful team can be built around the co-ordinator, plant and monitor evaluator. Even though these team roles are not associated with particular job and task skills, they are considered crucial to task and goal achievement in that their presence or absence is said to influence significantly the work and achievements of teams.

Before moving to team role descriptions, one should keep in mind the underlying premises of Belbin’s team role theory: 1. People working in teams tend to adopt particular roles. 2. They tend to prefer these roles and stick with them. 3. And certain combinations lead to more effective teams. Team Roles: Descriptions It should be noted here that the descriptions are presented here in their `pure forms’, representing the extreme form of each role. In reality, such forms are unlikely to occur to that extent, but classifying them in this way help in understanding the central behavioural features characteristic of ach role. It should also be noted that each ideal role includes a number of weaknesses associated with the role. These are acceptable in a team setting and can be described as the payments that are made for the strengths inherent in the particular role. It may be counter-productive to work on these weaknesses, as in many cases they are closely intertwined with strengths. It is better to deal with weaknesses by delegating certain responsibilities or roles to others or, in some cases, recruiting a new team member to fill the void. Nine Team Roles identified in Belbin’s Research Action-oriented Roles |People-oriented Roles |Cerebral Roles | |Shaper |Co-ordinator |Plant | |Implementer |Team Worker |Monitor Evaluator | |Completer |Resource Investigator |Specialist | Team Role: Descriptions Belbin Team Role Type |Contributions |Allowable Weaknesses | |Plant (PL) |Creative, Imaginative Unorthodox. Solves |Too pre-occupied to communicate | | |difficult problems. |effectively. | |Co-ordinator (CO) |Mature, Confident, a good chairperson. |Can be often seen as manipulative. Off | | |Clarifies goals, promotes decision-making, |loads personal work. | |delegates well. | | |Monitor Evaluator (ME) |Sober, strategic and discerning. Sees all |Lacks drive and ability to inspire others. | | |options. Judges accurately. | | |Implementer (IMP) |Disciplined, reliable, conservative and |Somewhat inflexible. Slow to respond to | | |efficient. Turns an idea into practical |new possibilities. | | |actions. | |Completer (CF) |Painstaking, conscientious, anxious. |Inclined to worry unduly. Reluctant to | | |Searches out errors and omissions. Delivers|delegate. | | |on time. | | |Resource Investigator (RI) |Extrovert, enthusiastic, communicative. |Over optimistic. Loses interest once | | |Explores opportunities. Develops contacts. |initial enthusiasm has passed. |Shaper (SH) |Challenging, dynamic, thrives on pressure. |Prone to provocation, offends people’s | | |The drive and courage to overcome |feelings. | | |obstacles. | | |Team Worker (TW) |Co-operative, mild, perceptive and |Indecisive in crunch situation. | | |diplomatic. Listens, builds, averts | | | |friction. | |Specialist (SP) |Single minded, self-starting, dedicated. |Contributes on a narrow front. Dwells on | | |Provides knowledge and skills in rate |technicalities. | | |supply. | | Building an Effective Team – Some Guidelines Dr. Meredith Belbin’s research shows that technical/functional resources and skills within the team are employed to best advantage only when there is a right balance of team roles.

The notion of balance suggests that the presence of all nine roles would make a perfect team. However, it is highly unlikely that a team of workable size will have all the roles and hence it has been suggested that there are some roles that are probably essential for the success of a team. Co-ordinatorImplementer(s) PlantTeam Worker(s) Monitor EvaluatorResource Investigator(s) Completer(s) Specialist Ideal Team Composition Those in the smaller box are almost certainly vital to real effectiveness of the team. The role of the co-ordinator is more satisfactory and supportive to the effective functioning of the team.

In leadership positions co-ordinator ensures the focus on people and their needs and tries to create conditions, which allows him to work with people rather than over them. The creativity of the Plant may also be critical to success. Belbin found that when ‘Planted’ in an ordinary team (hence the name Plant), he could transform the team from a state of mediocrity to one of high achievement. There is a widespread conviction in the management literature that most teams have a need for the Plant. They are, however in short supply and that may partly explain why many organizational teams are no more than average performers.

The role of the Monitor Evaluator is central to some of the key purposes of the team, which include processing complex information, sifting ideas for flaws and relevance to the key purpose and selecting the optimum solution. The presence of a Monitor Evaluator having critical analysis capabilities ensures that high quality decisions emerge. Those roles in the larger box may be described as important contributing elements to the effectiveness of the team. For example, teams need a disciplined approach to task performance and meeting targets. The completer and the implementer are the key exponents of these roles.

Similarly, the chances of a congenial working environment and relatively harmonious relationships are higher in the presence of a Team Worker. Belbin has also noted that certain roles are more vital at certain stages of the activities of the team than others. For example, when a team is going through the process of setting project direction or establishing needs a co-ordinator or shaper is essential. When they reach the stage of actual planning, however, a Monitor Evaluator is invaluable. The particular roles that may be essential at different stages of the task include: Different Stages of the task |Roles essential | |Direction and needs |Co-ordinator, Shaper | |Ideas |Plant, Resource Investigator | |Contracts |Resource Investigator, Team Worker | |Organization |Implementer, Co-ordinator | |Follow through |Completer, Implementer |

Implications for Managers a) Those in a position to select the members of teams have to take their (members’) ability to contribute to the workings of the team into consideration just as much as their specialist technical skills. People with creative talents need to be sought out and their special skills need to be supported and used. They can contribute enormously to team success. b) Putting together people who are all of one type, whether in terms of technical skills or role denomination can be problematic. In considering team membership, there needs to be heterogeneity, where skills and abilities are complementary rather than duplicated. ) It has also been observed that a balanced team is more likely to be successful because it has the presence of key roles. A good Co-ordinator, a Plant, a Monitor Evaluator can provide the nucleus of a high performing team. These roles, therefore, are central. Very often, if a few influential team members provide these roles, the team may be successful despite the role gaps and inadequacies amongst the other team members. Individuals should also be encouraged to develop potential strengths of their preferred roles in support of the team.

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Sensorial Montessori

Two sensations, tactile and muscular are mixed together and give rise to that sense which psychologist call the stereognostic sense. Explain what stereognostic education is? And how sensorial materials in the classroom develop the stereognostic perception of young children SENSORIAL ESSAY The child is introduced to the Sensorial area of the Montessori classroom after he has worked in practical life, become familiar with classroom rules and correct handling of materials, and is used to the idea of a full cycle of activity Your Essay Will Be Done Easily! – check over here  .

While the sensorial exercises no longer involve familiar objects, they are working with skills the child uses every day- his senses. The child’s senses are his link with the world around him and his only means of exploring his environment. The formative years, from birth to six, are a time of great sensory exploration for the child. Since birth, the child has been absorbing impressions from his senses. Now, through the Sensorial materials, the child is given the tools needed to sharpen and refine his senses, as well as to understand, order, name and classify the various sensations he receives.

The child passes through a sensitive period for the refinement of the senses between the ages of 2 ? and 6 years old. The Sensorial area assists the child to educate his senses. While much of this type of education occurs naturally in the child’s life, the didactic materials in the Sensorial area help to isolate and further refine specific sensory impressions in an ordered and methodical way ‘No one can be free unless he is independent. Therefore, the first active manifestations of the child’s individual liberty must be so guided that through this activity he may arrive at independence. Dr Maria Montessori Once the child is introduced to the sensorial activities in the classroom, he starts working with the material, which grabs his attention and develops a sense of judgment and comparison, as to how to use the material. When he further repeats the activities on daily basis, he goes into the depth and starts understanding the activity much better, for example if he has worked with all the stereognostic material in the Montessori environment, like ouch tablets, touch fabrics, stereognostic bag, feeling geometrical solids, he can then go back to the previous activities (knobbed cylinders, pink tower, broad stairs and knobless cylinders, etc) and use the stereognostic sense to perform them. Once he has worked with the material several times, the power of concentration develops in the child, so now he is able to do the activity better and understand the details, which will further help him in concentrating in other aspects of life.

The concentration further develops a power of observation in the child, which also means that when the child is using his full concentration in performing an activity, he acutely observes the material and this is when he starts thinking of using the given material in different ways, he will think of different variations in the activity itself, thus making him understand the concept of the activity in a better way.

The exercises carried out in order to make the senses more refined in their perception, also do something for the education of character. It forms the basic discipline in the child which will make him more orderly in his life in future. If a person is disorderly in his life, never puts back things in their places and does not finish what he has started. This further builds the concept of the child thoroughly and now he starts giving words to the concept which is formed in his mind, for example heavy, light, thin, thick, etc.

The language building, majorly starts developing when the child is been given the three period name lesson, beginning with the color tablets, where the child is being introduced to the 3 primary colors (red, blue, yellow), then presentation tray, geometrical solids, etc. He can also go back to the previous activities and learn the language for them as well, as it would be simpler to grasp the language now. The child has become knowledgeable or what line should we use? In a way that he can now apply this knowledge some where else in the environment.

This would be called sensorial education. Montessori subdivided the five basic senses to provide an opportunity for more detailed refinement of them. Through the child’s work in the Sensorial area, he will then put them all together to interpret and appreciate his world much differently, first is the visual sense which is interpreted by the eyes. It is what you can see. Exercises develop this sense by requiring the eye to perceive differences in size, form, and color(which perceives size, shape, composition, pattern and colour): Cylinder Blocks (alas Knobless Cylinders), Pink Tower, Brown

Stairs, Red Rods, Montessori isolates the chromatic sense with her color tablet activities. Children first distinguish between primary colors, then secondary, and finally the various gradations of each. These exercises allow the child to look at a tree and see the many variations of green found in the leaves or the blues and purples of the ocean, tactile sense is interpreted through the skin. It is your perception of that which you touch. Montessori activities have the child start with touching different grades of sandpaper, then move on to different materials in the environment.

Prior to handling the different materials, the fingertips are “sensitized” either by vigorously rubbing them on the carpet or dunking them in tepid water. The sensitization heightens the perception of differences between extra-fine and super-fine sandpaper, and between silk and linens, thermic sense takes the tactile sense a step further and teaches the child to distinguish temperature. He determines hot and cold by holding metal bottles in his hand or by touching different kinds of stones and other materials to his cheeks.

Knowledge of the thermic sense protects the child from harm, baric sense is feeling different weights, the child again uses the whole arm in conjunction with the hands and the tactile sense to determine light vs. heavy. This is done through weighted tablets in the classroom and can translate into other objects in the environment as the child becomes a sort of human balance or scale, auditory sense is interpreting the world through the ears. In order to understand sound, children must first be introduced to silence, then they can be introduced to matching and grading sounds.

Games can be played in which the child is blindfolded and has to identify a person’s voice, or from where in the room a sound is coming, olfactory sense is interpreting the world through the nose by smelling. Children match different herbs or other smells in the smelling bottles. Eventually more abstract activities take place that match the scent to a picture, gustatory sense is interpreting the world through the tongue by tasting. The child learns to distinguish between sweet, salty, bitter, and sour. Tasting activities can be done in a group, as an individual work, or through food preparation activities.

The works of Montessori add to the traditional five senses a sixth sense called stereognostic. The word “stereognostic” comes from two Greek words: stereos for “solid” and gnosis for “knowledge” and it is the ability to recognize objects by the combined sense of touch and movement. The stereognostic sensorial Montessori exercises are first done with eyes open, but after practice shapes are recognized and sorted with eyes closed. The stereognostic sense gives the child “solid knowledge” to perceive and understand the size, form, shape, and nature of a solid object.

Margaret Humphrey of Montessori World has an excellent online video lesson called stereognostic sense, children can be given some cylinders blocks and three pairs of the cubes of pink tower. The exercise is to find identical ones and put them together two by two, or build up three small towers using these three objects with eyes closed. We may begin the exercise of the stereognostic sense, by finding identical forms. The greatest guide is, to find the identities, by feeling if two objects are alike.

This one may begin with closed eyes, to feel the objects, and to find the differences between the series recognizing the grading merely by the stereognotic sense. It is not difficult to induce the child to do this kind of exercise, and once when they are started, all of them begin to do all the exercises with closed eyes. They even use the geometrical insets and cylinder blocks with closed eyes. In order to satisfy the evident need of children to exercise the stereognostic sense we should give them special material with which they can work.

One of the exercises is to put the hand into a bag of objects with eyes closed, recognize the object and name it, the objects are basically geometrical solid forms, so this kind of exercise would help him in understanding their shapes. There are exercises of the same kind which require greater concentration, with objects that are more difficult to feel, more difficult to describe. “The senses are the keys to the doors of knowledge” Dr Maria Montessori In the words of the child: “I Hear and I forget, I See and I remember, I Do and I understand. ” Dr. M. Montessori

All materials and exercises require manual handling and movement. The activities in the sensorial area promote both gross motor and fine motor skills and coordination. The child is actively involved in exploring the materials. By observing, comparing, judging and categorising the concrete materials, the child refines and heightens his senses. By using his senses in many various ways he also broadens his range of sensorial impressions. He is able to order and name the impressions he is receiving and this is the basis for his understanding of himself and the world around him.

The concrete exercises and experiences lead the child into the formation of abstract concepts. Concepts and shapes in the sensorial area are presented by the directress using the correct and precise language e. g. a narrow prism, an isosceles triangle. This enriches the child’s language development, and is an aid to precise, ordered and detailed thought. The sensory input a child receives is vital to his intellectual and mental development. The impressions and experiences that the child is exposed to in his environment help to form and develop his mental abilities.

As his mental abilities increase, the child uses these same sensory impressions and experiences to build up his mental representations of the world around him and to develop concepts. A limited sensory environment has a negative impact on the child’s ability to develop fully. Through the sensorial area, the child is methodically exposed to the variety of stimuli needed to fully develop his senses. Sensorial education enables the child to make sense of what he is experiencing, not only in the classroom, but in his wider world.

Sensorial education in the Montessori classroom occurs as part of a total activity which involves both intelligence and movement. Both neurological and physical development rely on the ability to learn in an orderly manner, as well as the balanced education and use of all the child’s available senses. The prepared environment for sensorial education includes love, security and consistency. The orderly arrangement and careful design of the materials, the precision and consistency of the directress’ actions, and her deep love and concern for the child provides the ideal environment for the refinement and education of the senses.

The child feels secure and can work at their own pace, finding the right level of challenge in the graded activities available. Every child is unique, with a unique way of perceiving and understanding the world. The Montessori sensorial equipment and area, through the methodical and thorough approach to sensory education, allows the child to fulfil his individual sensory needs, and to develop a solid sensory foundation and framework for life. . This experience of a single uality occurs because each object in the set is identical in all respects except that one quality. , Colour Tablets, Geometric Cabinet, Constructive Triangles, Binomial and Trinomial Cubes, the tactile sense (perceiving texture):, the baric sense (perceiving weight): Baric Tablets, the auditory sense (perceiving loudness and pitch): Sound Boxes, Bells, The gustatory sense (perceiving tastes): Tasting Cups, the olfactory sense (perceiving scents and odours): Smelling Boxes. the stereognostic sense (which perceives through tactile and muscular impression, combined with movement): Geometric Solids, Stereognostic Bags, Mystery Bag, Sorting Grains, the thermic sense (perceiving temperature and heat absorption potential): Thermic Bottles,Thermic Tablets. It is in the sensorial area that math concepts are first introduced and internalized.

The sensorial activities provide the child with basic skills needed for mathematics work, including, calculation of amount or degree, exactness in perception and dexterity, discrimination among similarities, repetition, set recognition, algebraic analysis, and recognition of progression in a series. Most of the sensorial materials provide the child with experiences in more than one of these skills. Activities in this area also indirectly prepare the child for writing and reading.

For example, through the manipulation of the Cylinder Blocks, the child develops the muscles in his fingers as well as his coordination, which are critical for proper pencil grip and manipulation. Through the use of the rough and smooth boards, the child develops light touch for writing. The child also becomes familiar with the shape and curves of letters in writing through learning the different shapes in Geometrical Cabinet. ‘The senses, being explorers of the world, open the way to knowledge.

Our apparatus for educating the senses offers the child a key to guide his explorations of the world…’ Dr Maria Montessori The importance of sensorial training is that it aids the natural development of the child and gives him a sense of security within the learning environment. Every child has at least one sense they can rely on, it provides a basis for learning in an orderly manner that is needed for the neurological and physiological development, it prepares the child for ntellectual development, the discrimination leads from concrete to abstract, it fosters the concentration and thinking skills, which develop the mathematical mind,, prepares the child for logical learning sequence, develops power of observation, offers the child the key to the nature of things, provides opportunities for language development and strengthening fine motor skills for future writing. , promotes auto education or self learning, frequency of activity heightens the sensesprovides aesthetic enjoyment,

It is necessary to begin the education of senses in the formative period, if we wish to perfect this sense of development of the education which is to follow. The education of the senses would begin methodically in infancy, and should continue during the entire period of instruction which is to prepare the individual for life in society. ” – Dr Maria Montessori Bibliography : Course manual Jmjpublishing. com/infosensorial. html Creative development of child

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Economic Reforms Of The Banking Sector In India

Economic Reforms of the Banking Sector In India Indian banking sector has undergone major changes and reforms during economic reforms. Though it was a part of overall economic reforms, it has changed the very functioning of Indian banks. This reform have not only influenced the productivity and efficiency of many of the Indian Banks, but has left everlasting footprints on the working of the banking sector in India. Let us get acquainted with some of the important reforms in the banking sector in India. 1.

Reduced CRR and SLR : The Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) are gradually reduced during the economic reforms period in India. By Law in India the CRR remains between 3-15% of the Net Demand and Time Liabilities. It is reduced from the earlier high level of 15% plus incremental CRR of 10% to current 4% level. Similarly, the SLR Is also reduced from early 38. 5% to current minimum of 25% level. This has left more loanable funds with commercial banks, solving the liquidity problem. 2. Deregulation of Interest Rate : During the economics reforms period, interest rates of commercial banks were deregulated.

Banks now enjoy freedom of fixing the lower and upper limit of interest on deposits. Interest rate slabs are reduced from Rs. 20 Lakhs to just Rs. 2 Lakhs. Interest rates on the bank loans above Rs. 2 lakhs are full decontrolled. These measures have resulted in more freedom to commercial banks in interest rate regime. 3. Fixing prudential Norms : In order to induce professionalism in its operations, the RBI fixed prudential norms for commercial banks. It includes recognition of income sources. Classification of assets, provisions for bad debts, maintaining international standards in accounting practices, etc.

It helped banks in reducing and restructuring Non-performing assets (NPAs). 4. Introduction of CRAR : Capital to Risk Weighted Asset Ratio (CRAR) was introduced in 1992. It resulted in an improvement in the capital position of commercial banks, all most all the banks in India has reached the Capital Adequacy Ratio (CAR) above the statutory level of 9%. 5. Operational Autonomy : During the reforms period commercial banks enjoyed the operational freedom. If a bank satisfies the CAR then it gets freedom in opening new branches, upgrading the extension counters, closing down existing branches and they get liberal ending norms. 6. Banking Diversification : The Indian banking sector was well diversified, during the economic reforms period. Many of the banks have stared new services and new products. Some of them have established subsidiaries in merchant banking, mutual funds, insurance, venture capital, etc which has led to diversified sources of income of them. 7. New Generation Banks : During the reforms period many new generation banks have successfully emerged on the financial horizon. Banks such as ICICI Bank, HDFC Bank, UTI Bank have given a big challenge to the public sector banks leading to a greater degree of competition. . Improved Profitability and Efficiency : During the reform period, the productivity and efficiency of many commercial banks has improved. It has happened due to the reduced Non-performing loans, increased use of technology, more computerization and some other relevant measures adopted by the government. These are some of the import reforms regarding the banking sector in India. With these reforms, Indian banks especially the public sector banks have proved that they are no longer inefficient compared with their foreign counterparts as far as productivity is concerned.

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Rel 134 Islamic Worksheet

University of Phoenix Material Islam Worksheet When studying Islam, it is important to understand the essential elements of the faith, how they are practiced, and the distinctions among the three branches: Shiite Islam, Sunni Islam, and Sufism. Write a 1- to 2-paragraph response for each of the following directives and note where there are differences among the three branches of Islam. 1. Explain the meaning of the name, Islam. The name Islam literally means “surrender,” or “Submission. ” The idea behind this name is the complete surrender or submission to God (Allah).

The word Muslim means one who surrenders to Allah. The words Islam and Muslim are closely related to the word “peace. ” The words of Islam and Muslim propose the inner tranquility that is achieved with the surrendering to the divine. Islam teaches that all religions originally had the same essential message – which was to submit whole-heartedly to the will of God and to worship Him and Him alone. For this reason, Islam is not a new religion but is the same divinely revealed Ultimate Truth that God revealed to all prophets, including Noah, Abraham, Moses and Jesus.

The word “Islam” means peace and submission. Peace means to be at peace with you and your surroundings and submission means submission to the will of God. A broader meaning of the word “Islam” is to achieve peace by submitting to the will of God. 2. Explain the basic concepts of Islam. The Islamic belief is based off of an almighty, magnificent God who has fashioned the world and who controls each and every part of the world down to the smallest detail.

Islam is considered to be closely related to the other monotheistic religions of Judaism and Christianity, and all three religions worship the same God. The idea of God’s power receives the greatest importance in Islam. The most basic concept of Islam is that there is only one God. Since there is only one God, only this God has the right to be worshipped. None other can be worshipped. No idols or deities. No statues. 3. Describe the practices of Islam. The Five Pillars of Islam are the framework of the Muslim life.

All Muslims must accept and practice the following Five Pillars, so called because they support one’s faith. The Five Pillars are specifically mentioned in the Qur’an. The 5 pillars of Islam 1. Kalima: The believe in the Kalima, which is an Arabic recital that when translated in English, means, “There is no God but Allah and Muhammad is his messenger” 2. Prayers: To worship God 5 times a day 3. Charity: To give money in charity as often as you can. 4. Fasting: To fast during the Islamic calendar month of Ramadan. 5.

Hajj: To carry out a pilgrimage to Makkah (Mecca) and Madinah (Medina) at least once in a lifetime if you are able-bodied and can afford it. 4. Describe the goals of Islam. 5. Describe the view of authority in Islam. The Qur’an serves as the primary source of information and authority for Muslims, much as the Bible does for Christians. With this in mind, evaluate Islam’s historical influences on law, philosophy, and the arts in the Muslim world. Write a 1- to 2-paragraph response for each of the following questions.

Provide examples to illustrate your thinking. 1. What is the legal ideal in Islamic law? How does the Qur’an inform and guide Muslims in attaining this ideal? 2. What is the relationship between philosophy and theology within Islam? Is it acceptable for Muslims to hold separate philosophical and theological beliefs? 3. What artistic themes are regularly expressed in Islamic art and architecture? How are these themes explored? How has the Qur’an influenced the development of art in the Islamic world?

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Mumbai – the City of Dreams

Mumbai (play /m? m? ba? /; Marathi: ????? , Mumbai, IPA: [mumb?. i] ( listen)), formerly known as Bombay (/b? m? be? /) in English due to British colonial/imperialist renaming policies, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the sixth most populous city in the world, with a population of approximately 20. 5 million. Along with the neighbouring urban areas, including the cities of Navi Mumbai and Thane, it is one of the most populous urban regions in the world. 2] Mumbai lies on the west coast of India and has a deep natural harbour. As of 2009, Mumbai was named an Alpha world city. [3] Mumbai is also the richest city in India,[4] and has the highest GDP of any city in South, West or Central Asia. The seven islands that came to constitute Mumbai were home to communities of fishing colonies. For centuries, the islands came under the control of successive indigenous empires before being ceded to the Portuguese and subsequently to the British East India Company.

During the mid-18th century, Mumbai was reshaped by the British with large-scale civil engineering projects,[5] and emerged as a significant trading town. Economic and educational development characterised the city during the 19th century. It became a strong base for the Indian independence movement during the early 20th century. When India became independent in 1947, the city was incorporated into Bombay State. In 1960, following the Samyukta Maharashtra movement, a new state of Maharashtra was created with Bombay as capital. The city was renamed Mumbai in 1995. [6]

Mumbai is the commercial and entertainment capital of India, it is also one of the world’s top 10 centres of commerce in terms of global financial flow,[7] generating 5% of India’s GDP,[8] and accounting for 25% of industrial output, 70% of maritime trade in India (Mumbai Port Trust & JNPT),[9] and 70% of capital transactions to India’s economy. [10] Mumbai is home to important financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, the SEBI and the corporate headquarters of numerous Indian companies and multinational corporations.

It houses some of India’s premier scientific and nuclear institutes like BARC, NPCL, IREL, TIFR, AERB, AECI, and the Department of Atomic Energy. The city also houses India’s Hindi (Bollywood) and Marathi film and television industry. Mumbai’s business opportunities, as well as its potential to offer a higher standard of living, attract migrants from all over India and, in turn, make the city a potpourri of many communities and cultures.

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Batna: Negotiation

BATNA “Don’t put all your eggs in one basket. ” To a negotiator, this wise old proverb illustrates that if you bring only a single proposal to the table, you may likely end up with a rotten deal, or no deal at all Your Assignment Will Be Arranged Without Trouble! – check out here  . You need to have an alternative plan waiting in the wings. BATNA is an acronym described by Roger Fisher and William Ury which means Best Alternative to a Negotiated Agreement.

It is the alternative action that will be taken when your proposed agreement with another party results in an unsatisfactory agreement or when an agreement fails to materialize. If the result of your current negotiation only offers a value that is less than your BATNA, there is no point in proceeding with the negotiation, and one should use their best available alternative option instead. Prior to the start of negotiations, each party should have ascertained their own individual BATNA When developing a BATNA, a negotiator should: Brainstorm a list of alternatives that could be considered if the negotiation failed to deliver a favourable agreement: * Select the most promising alternatives and develop them into practical and attainable alternatives: and * Identify the most beneficial alternative to be kept in reserve as a fall-back during the negotiation. A BATNA does not concern what should be achieved, but what the course of action should be if an agreement is not reached within a certain time.

The question as to whether a BATNA should be disclosed to the other party depends on the strength (attractiveness) of the BATNA. If a negotiator has a strong BATNA, it may be beneficial to reveal it, as this would prevent the other party from acting as if a good alternative does not exist. Where a party has a weak BATNA, non-disclosure may be the preferred approach, as this may prove to be a bonus that should not be squandered through disclosure. The more a negotiator knows about the alternatives available to the other party, the better that negotiator is able to prepare for a negotiation.

If a negotiator before a negotiation has access to information that the other party is over-estimating its BATNA, such information could very effectively be used to lower its negotiation expectations. Where both parties to a negotiation have a strong BATNA, negotiation would seem rather meaningless, as there would be very little incentive to come to an agreement. In such cases the parties should rather look elsewhere to pursue their business. It is crucial to think of BATNA as having two stages in a negotiation.

You start off with your ‘walking-in’ BATNA; the things you can influence or control before the negotiation begins. However, once negotiation starts, the BATNA is a dynamic element, changing as you derive information about the interests of other parties and their constituencies and as you compare the resources each party (including you) has available to bring about and fulfil an agreement. BATNA doesn’t come in a package. It comes from planning and preparation. It is a twofold process. First, you have to determine all your available options.

Then, you must also realistically estimate your counterpart’s alternatives. Each is equally important. Otherwise, it will be impossible to gauge the strength of your best alternative in relation to their best alternative. Your plan should be a flexible approach. It is important to keep in mind that both your approach, and your alternatives, should be able to bend in the wind and weather the unexpected storm. A negotiator may enter the talks with a preconceived idea of the best alternatives available to both parties, but must not be bound by them. Circumstances can alter rapidly.

Unexpected changes can be anything from new information on the table; a sudden rise in costs due to political upheaval; new legislation: or, even a climatic intervention such as an unexpected and untimely frost. A sudden shift in conditions can immediately affect the strength of either party BATNA during the negotiation process. What’s in Your BATNA? How do you determine your best alternatives to a negotiated agreement? First, you have to dissect both your position and your interests. Then, look at the sum of these parts relative to all the alternative options available.

Pick the best option. Finally, do the reverse from your counterparts perspective. A well prepared negotiator looks at the whole picture. Some of the most crucial factors which should be considered include; * The cost – Ask yourself how much it will cost to make the deal relative to the cost of your best alternative. Cost estimation may entail both the short term and the long term. It boils down to figuring out which of your options is the most affordable. * Feasibility – Which option is the most feasible? Which one can you realistically apply over all the rest of your available options? Impact – Which of your options will have the most immediate positive influence on your current state of affairs? * Consequences – What do you think or estimate will happen as you consider each option as a possible solution? Examples: Let’s illustrate BATNA by using a simple example. In the first scenario, let’s say that you are a buyer who goes to a supplier to purchase some badly needed parts to complete a project. The supplier senses your urgency. You want the lowest price possible while he wants the higher price. You have no fallback position.

You’re both in the boat, but it’s the supplier who’s holding the oars, so guess who decides where the boat makes land? On the other hand, say you go to the meeting prepared. Before arranging the meet, you set up talks with 2 other suppliers who are ready and able to handle all your needs. When you meet with the first supplier in this second scenario, you can calmly sit back in your chair, and allow the supplier to finish his offering. Now look at the reaction when you tell him about his competitors willingness to solve your problem. You have BATNA! The talks suddenly become more amenable. So, who’s holding the oars now?

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Project on Tata

Executive summary This project has been a great learning experience for me; at the same time it gave me enough scope to implement my analytical ability. Tata Group is one of the India’s largest and most respected business groups Your Paper Will Be Ready Easily! – check it out  Your Assignment Will Be Finished Without Trouble! – check these guys out . Tata Group’s name is synonymous with India’s industrialization. Tata AIG Insurance Solutions is one of the leading insurance companies that provide both life insurance as well as general insurance. This pioneer company is a joint collaboration between the American International Group, Inc. (AIG) and Tata Group.

They own the company in the ratio of 26:74. It is a leading financial institution that has carved a niche for itself all over the world. Tata AIG Insurance Company is having different insurance policies. At the end of the project people will be knowledgeable about various insurance organizations and different products taking into considerations hundred sample sizes in Ahmedabad city. Project is on the market potential study of Tata AIG Insurance Company in Ahmedabad city. To get to know a questionnaire has been prepared which contains open ended and close ended questions.

Firstly pilot study has been done through hundred questionnaires. For collecting the data field survey method, personal interview technique has been used. Secondary data has been collected from the company. The data collected are represented into suitable tabular forms for drawing inferences. Quantitative techniques like averages, percentages, range, two-way tables, chi- square tests analysis has been applied as per the requirement. The level of preference, perception of the customers about the product and company were identified by means of a scoring scheme.

For the representation of data various charts and graphs are used as per requirement. . Introduction CHAPTER 1 INTRODUCTION TO INSURANCE 1. 1. INTRODUCTION “Insurance is a contract between two parties whereby one party called insurer undertakes in exchange for a fixed sum called premiums, to pay the other party called insured a fixed amount of money on the happening of a certain event. ” Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual.

With the help of Insurance, large number of people exposed to a similar risk makes contributions to a common fund out of which the losses suffered by the unfortunate few, due to accidental events, are made good. Insurance is a tool by which fatalities of a small number are compensated out of funds collected from plenteous. Gradually as competition increased benefits given by industry to its customers increased by leaps and bounds. Insurance is a basic form of risk management which provides protection against possible loss to life or physical assets.

Person who seeks protection against such loss is termed as insured, and company that promises to honor claim, in case such loss is actually incurred by insured, is termed as Insurer. In order to get insurance, insured is required to pay to insurance company a certain amount called premium. Premium is collected by insurance companies which acts as trustee to pool created through contributions made by persons seeking to protect themselves from common risk. Any loss to the insured in case of happening of an uncertain event is paid out of this pool. Insurance business is divided into four classes: Life Insurance · Fire · Marine · Miscellaneous Insurance. · Insurance provides: · Protection to investor. · Accumulation of savings. · Channeling these savings into sectors needing huge long term investment. 1. 2. FUNCTION OF INSURANCE: Provide protection: The primary function of insurance is to provide protection against future risk, accidents and uncertainty. Insurance cannot check the happening of the risk, but can certainly provide for the losses of risk. Insurance is actually a protection against economic loss, by sharing the risk with others.

Collective bearing of risk: Insurance is an instrument to share the financial loss of few among many others. Insurance is a mean by which few losses are shared among larger number of people. All the insured contribute the premiums towards a fund and out of which the persons exposed to a particular risk is paid. Assessment of risk: Insurance determines the probable volume of risk by evaluating various factors that give rise to risk. Risk is the basis for determining the premium rate also. Provide certainty: Insurance is a device, which helps to change from uncertainty to certainty.

Insurance is device whereby the uncertain risks may be made more certain. Small capital to cover larger risk: Insurance relieves the businessmen from security investments, by paying small amount of premium against larger risks and uncertainty. Contributes towards the development of industries: Insurance provides development opportunity to those larger industries having more risks in their setting up. Even the financial institutions may be prepared to give credit to sick industrial units which have insured their assets including plant and machinery.

Means of savings and investment: Insurance serves as savings and investment, insurance is a compulsory way of savings and it restricts the unnecessary expenses by the insured’s For the purpose of availing incometax exemptions also, people invest in insurance. Source of earning foreign exchange: Insurance is an international business. The country can earn foreign exchange by way of issue of marine insurance policies and various other ways. Risk free trade: Insurance promotes exports insurance, which makes the foreign trade risk free with the help of different types of policies under marine insurance cover. . 3. LIFE INSURANCE: Life insurance is a contract under which the insurer (Insurance Company) in Consideration of a premium paid undertakes to pay a fixed sum of money on The death of the insured or on the expiry of a specified period of time Whichever is earlier. In case of life insurance, the payment for life insurance policy is certain. The Event insured against is sure to happen only the time of its happening is not known. So life insurance is known as „Life Assurance?. The subject matter of insurance is life of human being. Life insurance provides risk coverage to the life of a person.

On death of the person insurance offers protection against loss of income and compensate the titleholders of the policy. 1. 4. ROLES OF THE LIFE INSURANCE: Life insurance as an investment: – Insurance products yield more than any other investment instruments and it also provides added incentives or bonus offered by insurance companies. Life insurance as risk cover: – Insurance is all about risk cover and protection of life. Insurance provides a unique sense of security that no other form of invest can provide. Life insurance as tax planning: – Insurance serves as an excellent tax saving mechanism . 5. IMPORTANCE OF THE LIFE INSURANCE: Protection against untimely death: – Life insurance provides protection to the dependents of the life insured and the family of the assured in case of his untimely death. The dependents or family members get a fixed sum of money in case of death of the assured. Saving for old age: – After retirement the earning capacity of a person reduces. Life insurance enables a person to enjoy peace of mind and a sense of security in his/her old age. Promotion of savings: – Life insurance encourages people to save money compulsorily.

When life policy is taken, the assured is to pay premiums regularly to keep the policy in force and he cannot get back the premiums, only surrender value can be returned to him. In case of surrender of policy, the policyholder gets the surrendered value only after the expiry of duration of the policy. Initiates investments: – Life Insurance Corporation encourages and mobilizes the public savings and canalizes the same in various investments for the economic development of the country. Life insurance is an important tool for the mobilization and investment of small savings.

Credit worthiness: – Life insurance policy can be used as a security to raise loans. It improves the credit worthiness of business. Social Security: – Life insurance is important for the society as a whole also. Life insurance enables a person to provide for education and marriage of children and for construction of house. It helps a person to make financial base for future. Tax Benefit: – Under the Income Tax Act, premium paid is allowed as a deduction from the total income under section 80C. 1. 6. INSURANCE CYCLE: Policy Renewal/Change Options/Application:-

The Insurance Cycle begins each year with the insurance offer. Actuarial documents are published annually by the Risk Management Agency (RMA). The actuarial documents list the plan of insurance, crop, type, variety, and practice that may be insured in a state and county, and show the amounts of insurance, available insurance options, levels of coverage, price elections, applicable premium rates, and subsidy amounts. The Special Provisions of Insurance list program calendar dates, and general and special statements which may further define, limit, or modify coverage.

Sales Closing/Cancellation/Termination Dates:- Insurance applications must be completed and signed no later than the sales closing date specified in the crop actuarial documents. Applications signed after the crop sales closing date may be rejected by the insurance provider. Insurance coverage is continuous and can be cancelled by either the insurance provider or the policyholder for the following crop year by providing a written notice to the other party no later than the cancellation date specified in the crop policy.

For a policyholder insured the previous crop year, any changes he or she wishes to make to the policy coverage must be made on or before the crop sales closing date. The policy will automatically renew for the subsequent crop year unless the policyholder cancels the policy in writing on or before the crop cancellation date. Insurance coverage may be terminated by the insurance provider for the following crop year for nonpayment of outstanding debt by providing a written notice to the policyholder no later than the termination date specified in the crop policy.

The insurance provider may terminate coverage on a crop if no premium is earned for three consecutive years. Acceptance:- Upon receipt of a properly completed and timely submitted insurance application, the insurance provider will accept and process the application, unless the applicant is determined to be ineligible under the contract or Federal statute or regulation. The insurance provider will issue a summary of coverage and the appropriate policy documents to the applicant.

After the application is accepted, the policyholder may not cancel the policy for the initial crop year. Insurance Attaches: – For annual crops, insurance attaches annually when planting begins on the insurance unit. The crop must be planted on or before the crop’s published final planting date unless late or prevented planting provisions apply. If prevented planting provisions apply, and the crop cannot be timely planted due to the causes specified in the crop provisions, such acreage may be eligible for a prevented planting payment.

Acreage Reports:- The policyholder must annually report for each insured crop in the county the number of insurable and uninsurable acres planted or prevented from being planted if prevented planting is available for the crop, the date the acreage was planted, share in the crop, the acreage location, farming practices used, and types or varieties planted to the insurance provider on or before the applicable acreage reporting date specified in the crop actuarial documents.

Summary of Coverage:- The insurance provider will process a properly completed and timely filed acreage report, and issue to the policyholder a summary of coverage that specifies the insured crop, the insured acres and amount of insurance or guarantee for each insurance unit. The policyholder may make changes to the filed acreage report, if permitted by the insurance provider. Premium Billing:- The annual premium is earned and payable at the time insurance coverage begins.

The insurance provider shall issue a premium billing based upon the information contained in the acreage report no earlier than the premium billing date specified in the crop actuarial documents. The premium billing will specify the amount of premium and any administrative fees that may be due. If the premium or administrative fees are not paid by the date specified in the actuarial documents or policy, the insurance provider may assess interest on the outstanding premium balance.

Notice of Damage or Loss: – A written notice of damage or loss for each unit is to be filed by the policyholder within 72 hours of the policyholder’s initial discovery of damage or loss but not later than 15 days after the calendar date for the end of the insurance period unless otherwise stated in the individual crop policy. The policyholder should refer to the individual crop provisions for additional requirements in the event of damage or loss.

These notifications provide the opportunity for the insurance provider to inspect the crop and determine the extent of damage or potential production before the crop is harvested or otherwise disposed of. Inspection:- After the insurance provider receives the written notice of damage or loss, it will be processed and, if necessary, a loss adjuster will be sent to inspect the damaged crop and gather pertinent information concerning the damage. If the policyholder wishes to destroy or not harvest the crop,the oss adjuster will gather the appropriate information, conduct an appraisal to establish the crop’s remaining value and complete any forms needed. If the crop has been harvested or will not be harvested by the end of the insurance period, and the policyholder wishes to file a claim for indemnity, the loss adjuster will gather the appropriate information and assist the policyholder in filing the claim for indemnity. It is the policyholder’s responsibility to establish the time, location, cause, and amount of any loss. Indemnity Claim:-

After the claim for indemnity is processed by the insurance provider, an indemnity check and a summary of indemnity payment will be issued showing any deductions to the amount of indemnity for outstanding premium, interest, or administrative fees. Contract Change Date:- Changes to the insurance program may be made by RMA from one year to the next. The insurance provider will notify the policyholder in writing of any changes to the policy, actuarial documents, or the Special Provisions of Insurance prior to the calendar date for contract changes specified in the crop policy.

The policyholder will have the opportunity to review the changes and, if he/she desires, continue the insurance coverage for the following crop year, change the policy coverage, or cancel the insurance coverage. Any changes to the policy coverage that the policyholder makes must be made no later than the crop sales closing date. If the policyholder wishes to cancel the policy, a written notice must be submitted to the insurance provider on or before the crop cancellation date. CHAPTER 2 Company profile TATA AIG INSURANCE COMPANY Tata Enterprises with 82 companies, spread over seven sectors and with an annual turnover exceeding US $ 8. billion, employs more than 262,000 people. Tata Group has shown over years that it is a value driven company and has pioneering contributions in various fields including insurance, aviation, iron and steel. In terms of capital market performance as many as 40 listed Tata companies account for nearly 5% of the total market capitalization of all listed companies. The Group has had a long association with India’s insurance sector having been the largest insurance company in India prior to the nationalization of insurance. TATA GROUP IN INSURANCE:

Tata AIG General Insurance Company Ltd, and Tata AIG Life Insurance Company Ltd. , (collectively “Tata AIG”) are joint venture companies between the Tata group India’s most trusted industrial house and American International Group, Inc. (AIG), the leading U. S. based international insurance and financial services organization. The Late Sir Dorab Tata, was the founder Chairman of New India Assurance Co. Ltd. , a group company incorporated way back in 1919. Government of India took over the management of this company as a part of nationalization of general insurance companies in 1972.

Not deterred by the move, Tata group have ventured into risk management services having tied up with AIG group, back in 1977, with the incorporation of Tata AIG Risk Management Services Pvt. Ltd. The Tata Group is one of India’s largest and most respected business conglomerates, with revenues in 2006-07 of $28. 8 billion (Rs129,994 crore), the equivalent of about 3. 2 per cent of the country’s GDP, and a market capitalization of $72. 2 billion as on December 6, 2007. Tata companies together employ some 289,500 people. AIG: American International Group, Inc. AIG), is a major American insurance corporation based at the American International Building in New York City. The British headquarters are located on Fenchurch Street in London, continental Europe operations are based in La Defense, Paris, and its Asian HQ is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was the 18th-largest company in the world. Company Background: AIG’s history dates back to 1919, when Cornelius Vander Starr established an insurance agency in Shanghai, China. Starr was the first Westerner in Shanghai to sell insurance to the Chinese. In 1962, Starr gave management of the company’s less than successful U. S. holdings to Maurice R. “Hank” Greenberg, who shifted the company’s U. S. focus from personal insurance to high. 1969. American International Group, Inc is the leading U. S. based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in over 130 countries and jurisdictions throughout the world.

AIG’s Life Insurance operations comprise of the most extensive worldwide network of any life insurer. AIG’s global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, savings products. THE JOINT VENTURE: Tata AIG Life Insurance Co. Ltd. is capitalized at Rs. 185 crores of which 74 per cent has been brought in by Tata Sons and the American partner brings in the balance 26 per cent. Mr. George Oommen has been named managing director of Tata AIG Life.

Tata-AIG plans to provide broad array of life insurance plans to cover to both individuals and groups. The company headquartered in Mumbai, with branch operations in Delhi,Chennai, Hyderabad, Bangalore Calcutta, Pune and Chandigarh. 3. 5. ABOUT TATA-AIG: Tata AIG Insurance Solutions is one of the leading insurance companies that provide both life insurance as well as general insurance. This pioneer company is a joint collaboration between the American International Group, Inc. (AIG) and Tata Group. They own the company in the ratio of 26:74.

It is a leading financial institution that has carved a niche for itself all over the world. Tata AIG Insurance provides facilities to both corporate and individuals. Starting its operations on April 1, 2001, it seeks to serve different categories of people. It acquired its license for carrying out operations in India on February 12, 2001. Tata AIG Insurance Solutions is one of the most prestigious organizations in the business world. It employs thousands of employees and offers various opportunities to people to build a prospective career.

As a leading name in the financial world, it identifies the potential and experience of the individual. This insurance company identifies the clients? needs and works accordingly. It stresses on innovative aspect and opening of new markets. It believes in new economy and latest Internet technology. Tata AIG Insurance offers a number of products for the General Insurance holders. General insurance products include: · Individual insurance · Small business insurance · Corporate insurance Tata AIG Insurance offers flexible life insurance to the individuals, business organization and other association.

For the corporate, there are various insurance products like group pensions, employee benefits, work place solutions and credit life. For the individuals, Tata AIG Insurance offers various products for adults, children and for retirement planning. SWOT ANALYSIS STRENGTHS: 1. No. 1 Private Player in the insurance industry in India. 2. Life Insurance linked with Investments 3. Tax benefits 4. Security against loans 5. Helps in future planning and provides financial consultancy. 6. Covers risk. WEAKNESS: 1. Negativity relating insurance and ‘Agents’. 2. No fixed Salary. OPPORTUNITIES: 1.

High Network Individuals (HNI) 2. A clear career path 3. All round support through exclusive advertising, own in house consultant, and world-class training. 4. A comprehensive benefit package. THREATS: 1. Dynamic environment 2. Increasing Competition 3. Non-creativity 4. An Unfocused approach 5. Complacency and arrogance Chapter 4 Objectives of the study: The only purpose of undergoing this topic is to find out the details research on market of TATA AIG. * To know the awreness of the insurance product of TATA AIG IN AHEMDBAD. * To study of career path for business associates. Research METHODOLOGY

Data can be classified under the two main categories, depending upon the sources used for the collection purposes, i. e. , ‘Primary data’ and ‘Secondary data’. The validity and accuracy of final judgement is most crucial and depends heavily upon how well the data is gathered in the first place. The methodology adopted for data gathering also affects the conclusions drawn there from. Primary data: Primary data are those data, which are collected by the investigator himself for the purpose of a specific enquiry or study. Such data are original in character and are generated by surveys conducted by individuals or research institutions.

Thus we can say that the data that is being collected for the first time is called primary data. Methods that can be used for collection of primary data are as follows: § Direct personal observation: Under this method, the investigator presents himself personally before the informant and obtains first hand information. This method provides greater degree of accuracy. § Telephone survey: Under this method the investigator, instead of presenting himself before the informants, contacts them on telephone and collects information from them. Indirect personal interview: Under this method, instead of directly approaching the informants, the investigator interviews several third persons who are directly or indirectly concerned with the subject – matter of the enquiry and who are in possession of the requisite information. This method is highly suitable where the direct personal investigation is not practicable either because the informants are unwilling or reluctant to supply the information or where the information desired is complex or the study in hand is extensive. Questionnaire method: Under this method, the investigator prepares a questionnaire containing a number of questions pertaining to the field of enquiry. Under this method, the investigator directly contact the person and collect the information through questionnaire related to the data. The aims and objectives of collecting the information, and requesting the respondents to cooperate by furnishing the correct replies and fill the questionnaire with correct information.

The success of this method depends upon the proper drafting of the questionnaire and the cooperation of the respondents. Secondary data: When a person uses data, which has already been collected by someone else, then such data is known as secondary data. Secondary data should be used with extra caution since someone else has collected it for his/her use. Before using such data the investigator must be satisfied with regard to the reliability, accuracy, adequacy and suitability of the data to the given problem under investigation.

Methods that can be used for collection of secondary data are as follows: § Published sources: There are a number of nationalorganisations and international agencies, which collect and publish statistical data relating to business, trade, labour, price, consumption, production, etc. These publications of the various organisations are useful sources of secondary data. § Unpublished sources: The records maintained by private firms or business houses who may not like to release their data to any outside agency are known as unpublished sources of collection of secondary data.

Both ‘Primary data collection methods’ and ‘Secondary data collection methods’ have various advantages as well as limitations. Thus it would be prudent to use both these methods to one’s advantage. More of the primary data has been used in this project. INSURANCE ADVISOR IRDA TRAINING The Insurance Act, 1938 lays down that an insurance agent will be issued a license under section 42 of the Act, by the IRDA of an officer authorized by it in this behalf. Tata AIG offices and approved by INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (IRDA).

A licence issued by the IRDA will be valid for three years. The licence may be to act as an agent for a life insurer, for a general insurer or as a “Composite Insurance Agent” working for a life insurer as well as a general insurer. An Insurance agent have undergone practical training for at least 100 hours in life or general insurance business. He should have also passed the pre-recruitment examination conducted by the Insurance Institute of India. An Insurance Agent have to give a demand draft for Rs. 1000 payable in favor of Tata AIG Life Insurance Co. Limited. sources… scribd. com

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The Link Between Scientific Management and the Human Relations Approach

The link between Scientific Management and the Human Relations approach There are inherent tensions in organisations – and they are resolved by the process of management. There are a number of management strategies that can be observed with the passing of time. Two important ones are scientific management and the human relations approach. The first is represented by scientific management or the classical school of management theory. The scientific management approach strove to control people and keep down their costs.

It emphasised the need for rationality, clear objectives, the right of managers to manage and adopted work study and similar methods. These led to the reduction of tasks to their basic elements and the grouping of similar elements together to produce low-skilled, low-paid jobs, epitomised by assembly line working with a large measure of interchangeability between workers. Workers tended to be treated relatively impersonally and collectively (management and labour) and the nature of the psychological contract was calculative, with a focus on extrinsic rewards and incentives.

Such a strategy encouraged a collective response from workers, hence the development of trade unions. While this strategy epitomised the management approach of the first half of the 20th century, it has left its legacy in many management practices, such as organisation and method study, job analysis and description, selection methods, an overriding concern for efficiency and the bottom line, appraisal and performance management. The human relations approach to the tensions in organisations emerged during the middle of the 20th century.

It developed in parallel with an increasingly prosperous society in which there were strong trade unions and later a growing acceptance of the rights of individuals to self-fulfilment. Child (1969) identifies its emergence in British management thinking as a response to growing labour tensions. It tempered scientific management by its recognition that people differed from other resources, that if they were treated as clock numbers rather than as human beings they would not be fully effective at work and could even fight back to the point of subverting management intentions.

It also recognised the significance of social relations at work – the informal organisation. Managers therefore had to pay attention to the nature of supervision and working in groups and teams. And, to find ways of involving employees through job design, motivation and a democratic, consultative or particpative style of management. The nature of the psychological contract was co-operative. Adapted from Beardwell, Claydon and Holden (2004: 81-82)

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