Participatory Notes - Concept Essay Example for Free

Participatory Notes Concept Essay Participatory notes are issued by FIIs to their unregistered clients who want to invest in the Indian equity market but do not want to meet the disclosure requirements to do so. Thus the modus operandi they opt for is to invest their money with the fund companies (FIIs), who will invest in Indian market on their behalf. The fund company is registered with SEBI in India and issues participatory notes to these investors as a proof of their investment. Participatory notes are instruments used by foreign funds not registered in the country to trade in the domestic market. SEBI’s Concern and rulings regarding these notes: Participatory Notes have always been a bone of contention for SEBI as the identity of the investors is not known. In 2003, there was a boom in the stock market mainly due to a lot of foreign funds. This also led to a lot of volatility in the Indian market because a lot of Investment was done through Participatory Notes. So in 2003, SEBI amended regulations relating to foreign institutional investors to incorporate a new 10 point code of conduct and inserted a clause seeking disclosure of information with regard to participatory notes. The code seeks compliance to good corporate governance standards and SEBI regulations. SEBI has clarified that there is no change in the rules relating to FIIs except for the strengthening of KYC Norms. They have also given a ruling which states that from Now on, The PNs can only be issued to Registered Entities. The actual investing parties must be registered with the regulator of their country of Incorporation. In addition, to facilitate the process of transition, derivative instruments already issued and outstanding against un-regulated entities will not be required to be terminated immediately. It has been decided that the said contracts will be permitted to expire or to be wound down on maturity, or within a period of 5 years, whichever is earlier.

Indecisiveness :: essays research papers

Indecisiveness In the story Hamlet, there is a prince who is unable to make decisions for himself. A prince who must have good quality proof before he decides to do something. The public refers to people who cannot make decisions for themselves as people who are indecisive. In Hamlet, the prince of Denmark, Hamlet, is unable to make decisions for himself, and relies on the actions of others to make his final choice on wether to kill his Uncle Claudius or not. Many situations confirm this, such as when Hamlet put on a play, when someone was killed with something placed into the actors ear killing him and making Claudius panic and run off. Or when Hamlet says, "I'll have grounds/ more relative than this--the play's the thing/ Wherein I'll catch the conscience of the King" (II.ii.583-585), this suggests that Hamlet is indecisive because he does not have enough information to decide if Claudius is guilty or not. And also in many of Hamlet’s soliloquies, Hamlet speaks to himself an d questions his own judgement at many times during the play. All this can lead one to believe that Hamlet’s fatal flaw was his inability to make a solid choice, or indecisiveness. Hamlet’s friend invited a group of traveling actors to come to the court and preform an act for Hamlet to cheer him up. Hamlet financially supports this group of actors and asks for them to, at the end, have a killing in which a liquid will be placed into the ear of a actor, thus killing him. Hamlet believes this will make Claudius snap and he will have enough proof to kill Claudius. The plan goes as follows and Claudius stands up, shouts for light, and rushes off. Hamlet and his friend Horatio agree that this is enough proof. But still, even after this incident, Hamlet never does anything to capitalize. Because of this incident, where in any other circumstance, Claudius would have no reason to run off, but he did, Hamlet should have been convinced that the ghost of his father that spoke to him months before was the ghost of his father, and not the devil. In act two, scene two, Hamlet says "I'll have grounds/ more relative than this--the play's the thing/ Wherein I'll catch the conscience of the King" (II.ii.583-585), this tells a lot about Hamlet. First off, even though the ghost looked like his father, he would not believe the ghost, fearing the devil may have taken his fathers form.

Analysis of Romeo: Christopher Boone Essay

In the book ‘the curious incident of the dog in the night time’ the author had created a very unusual teenager called Christopher Boone. The author used strange and unique techniques to create the effect Christopher brings to the readers. These techniques are; the way in which Christopher communicates, how Christopher describes himself, the way Christopher interacts with other characters and the comments of the other characters. Dialogue Christopher is the type of person who doesn’t know how to tell lies. It is not because he is a good person but because he can’t simply tell lies. â€Å"I do not tell lies. Mother used to say it is because I am a good person but it’s not because I am a good person. It is because I can’t tell lies† most people think that telling the truth is the quality of a good person. But to Christopher it is a way of life â€Å"He said, â€Å"Did you mean to hit the policeman?† â€Å"I said, yes†. This quote tells us that Christopher can’t lie even to get him out of trouble The author also teaches us that Christopher is a very precise and logical person. This is shown by the way Christopher answers to others. He can’t understand sarcasm or jokes for this same reason. Christopher likes to know every single detail, so when you tell him a joke, he would want to break it down to every possible meaning it could have. Christopher loves to give as much detail as possible. â€Å"She was wearing boots which looked like army boots and there were 5 bracelets made out of a silver-coloured metal on her wrist and they made a jingling noise.† Christopher does not shy away from detail. He notices what other people do not notice. The author may have made him act like this to give a hint that he is not a normal 15 year old teenager. Narrative The author has written the book in the 1st point of view, so every event that goes on in the book is exactly what Christopher has experienced. The author has given us information about Christopher from Christopher. He tells us exactly what he likes and what he doesn’t. We see the world from his eyes, so we get a good overview of Christopher. â€Å"My name is Christopher John Francis Boone. I know all the countries of the world and every prime number up to 7,507† he is telling us facts about himself and we are given facts directly not indirectly. The author must have chosen to write this way so that the reader can really engage with Christopher’s character and see how life is for him and maybe then try to compare it with their own life. If it was written in 3rd person, we would only get like a sneak peak of how Christopher is and the book wouldn’t give so much of an effect to reader. Language choice Christopher speaks in a very simple manner. The author has made Christopher speak in a very mathematical and scientific way. â€Å"Is it a long cake with a square cross-section which is divided into equally sized, alternately coloured squares?† when someone is trying to have a normal conversation with him, he would always link it to either maths or science. When recounting, Christopher says exactly what happed. He doesn’t forget any piece of detail when recounting. â€Å"let go of the f*****g dog for Christ’s sake† this quote shows that Christopher doesn’t care if a word is inappropriate, he would just write what he heard. I think the author has linked this to the way Christopher speaks because Christopher only knows things which have actual meaning. These words are not in the dictionary so if someone told Christopher this word, he wouldn’t understand because it doesn’t have a logical meaning. Interaction with others One way the author has given us the hint that Christopher is not a normal teenager is that Christopher says that he doesn’t like to be touched. He can’t even hug his own father. â€Å"sometimes father wants to give me a hug, but I do not like hugging people† this quotes points out that no matter how much his father wants a hug or how much Christopher wants to hug his father, he just can’t do it. Christopher’s strange ways led him to a life scared of things such as strangers and being touched. Sometimes Christopher goes through some emotions which he can’t handle causing him to act in an unmannered way. The author has taken his time to work out Christopher’s character which involves Christopher’s worst habit. In this case it is hitting a person who is either a stranger or someone who touches him â€Å"The policeman took hold of my arm and lifted me onto my feet. I didn’t like him touching me like this. And this is when I hit him† Christopher likes policemen, but he hits him because he hates being touched, especially in a forceful manner. Other characters comments In the book Mrs Shears is Christopher’s neighbour whose husband left her. She doesn’t seem to take any interest in Christopher whatsoever. She is more interested in his father. Christopher’s dad sometimes feels frustrated with the way Christopher behaves. â€Å"Then father banged the steering wheel with his fist and the car weaved a little bit across the dotted line in the middle of the road† Christopher’s dad is furious with Christopher. Even though the author doesn’t state it directly we can tell by his body language and by hitting the steering wheel, he is frustrated with Christopher. Siobhan is Christopher’s teacher in his special school. Christopher is very comfortable around her because she knows exactly how to deal with him and his problem. Siobhan gives him exact instruction about what he can and can’t do, she keeps Christopher balanced. In conclusion as the readers of the curious incident of the dog in the night time† we assume that Christopher is autistic because of the way he behaves. He does not behave like any normal teenager.

Impact Of Erp On Organization Performance And Management Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1445 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? The Information Technology has changed dramatically the performance of todays organizations to increase efficiency and effectiveness from last ten years. It is used all over the world through organizations from developed and developing countries to improve performance. This study examined the impact of ERP on organizational performance and management efficiency with respect to increase/decrease in income/ profit, growth rate, no of customer in bank and no of employees Vs ERP expenses of Pakistani manufacturing and banking sectors over period of 2000-2010. Don’t waste time! Our writers will create an original "Impact Of Erp On Organization Performance And Management Finance Essay" essay for you Create order The secondary data was collected from literature review and financial statement of 10 companies, 05 in manufacturing sector (05 multination in local market) and 05 in banking sector(05 local). The data was tested by applying statistical/financial techniques. The conclusion of research is that ERP has positive impact on organizational performance of all the organizations but the banking sector performance outstrips the performance of manufacturing sector Key words: Enterprise Resource Planning, Information Systems and Organization Performance Introduction Information systems (IS), known as enterprise resource planning (ERP) systems. ERP systems are packaged business software systems, capable of sharing common data, and accessing information in a real time. ERP applications include supply chain management (SCM), customer relationship management (CRM), product lifecycle management (PLM), E-procurement, and financial management (FM) (Barthorpe, Chien, Shih, 2004; Tsai, Fan, Hung, and Liu, 2006; Cheng, Tsao, Tsai, and Tu, 2007). ERP systems can integrate the business processes of a company, and help organizations obtain a competitive advantage (Lee, Moon, and Lee, 2006; Ip and Chen, 2004). Companies which implement ERP systems gain many advantages, including improving productivity, gaining competitive advantage, satisfying customer demand, and increasing their rapid response capabilities. Tsai, Lin, Chen, and Hung (2007) also indicated that implementing ERP systems can bring benefits for companies, for example reducing cycle time, improv ing flow efficiency, and rapidly generating financial information. ERP systems enable managers to control the whole business and accelerate decision making. Companies implement ERP system to become efficient as well as integrate and modernize the business (OMahony and Doran, 2008) Financial sector is the major user and large investor in use of ERP. In Pakistan banking sector is also progressing rapidly with growth of local and multinational banks (Mahmood 2006). Many local banks are working in private sectors and started their operations since 1992 (SBP Report, 2005). It was year 1965 when computer was introduced first time in banks in Pakistan. The main commercial banks in private sectors i.e Allied Bank, Muslim Commercial Bank started acquiring computer to regulate their banking work since that year (Hussain, 2003, Akhtar 2006a, 2006b). The most recent automated banking systems like Misys, Sibel and Fidility etc have been installed in many of the Pakistani Banks (Kazmi 2004, 2005; Khan, 2005; Shaukat et.al, 2009). ERP provides many manufacturing based advantage to different organization to be the world-class manufacturer. In 1957 Packages Ltd was the first manufacturing company in Pakistan which introduced computers. After that many other companies started using of Enterprise Resources Planning (ERP) software (an integrated IT software system comprised of several modules that share a central database, designed to automate business process across the enterprise (Thomas and Michael, 2001)) has increased. E.R.P software packages such as SAP, Oracle etc. are being commonly used in many manufacturing industries(Rizvi, 2005; Shahid, 2005) According to Wheelen and Hunger (2000) the organization performance is an accumulated end result of organizational process and activity. These are measured by organizations working and activity. The organizational management manages the organizational performance, control and customer value, as it impact reputation of organization. Commonly organizational work measures include organization effectiveness, productivity/efficiency and industry ranking (Wetherbe et.al.1999). Efficiency is defined as minimum utilization of resources and getting maximum output and effectiveness is how well job gets done (Robbin and Coulter, 2003). Literature review Huq and Martin (2006) argued that ERP is a one management strategy that creates change via process performance improvements. Subramoniam, Tounsi, and Krishnankutty (2009) examined the role of BPR in implementing ERP systems and found that all organizations which implement ERP systems should select their own approach based on organizational needs and constraints. Furthermore, Sumner (1999) examined the relationship between critical success factors (CSFs) and ERP system performance, and identified the CSFs as management support, re-design of business processes, training and re-skilling, re-design of business processes, external consultants, management structure, discipline and standardization, effective communications, maintaining excellent staffing, and avoiding attempts at software modification. Competitive pressure and systems compatibility in business process significantly explain the success of ERP system (Elbertsen and Reekum, 2008). ERP was found to save costs (Huang et al.,2009; Kang et al., 2008; Loh et al., 2006; Wieder et al., 2006), facilitate business processes (Gattiker Goodhue, 2005), and provide better information management (Federici, 2009). Operational aspects like lead time can also be shortened by utilizing ERP systems (Cotteleer Bendoly, 2006; Gupta et al., 2004; Kang et al., 2008). According to Velcu (2007), faster fulfilment of customer orders can be achieved using ERP systems. Gupta et al. (2004) and Matolcsy et al. (2005) also agree that ERP systems provide more customer satisfaction by reducing time of Provide services. In the end, it could be said that previous research suggest that a mixed result exists when analyzing the effect of IT on business performance where some studies supported a positive relation while others suggested that companies adopting ERP did not perform financially better than non-adopting companies (Nicolaou, 2004). It can be also said that the effect of IT on business performance differs from country to country (Pilat, 2004) and should be considered when measuring business performance gains due to ERP adoption Significance of Study The banking and manufacturing industries of Pakistan constitute a major portion of Pakistans economy and have experienced continuous structural and technological changes in different regimes. The manufacturing and banking industries are the major users of IT products and ERP. The both sectors i.e. manufacturing and banking have managed, to some extent, the pace with new technologies for their growth and performance increase. This study is therefore a modest yet significant attempt to explore the importance of the role which ERP currently is playing in the organizations and its impact on organizational performance i.e efficiency minimum utilization of resources and getting maximum output and effectiveness how well the job is gets done Robbins and Coulter (2003), of Pakistani banking and manufacturing industries, over time period of 1994-2004. Various studies have been undertaken to measure the impact of ERP on organizational performance of business organizations using different performance indicators which are considered key factors. These variables include income, customer satisfaction, supplier/customer links, company image, job interest of employees, stake holders confidence and interoffice after implementation of ERP and have concluded that ERP ultimately has positive impact. Limitations of the study This study uses secondary data (Financial Statement 2000 to 2010) , Growth Rate, No of Employee etc of 5 Local Pakistani Banks and 5 Local Manufacturing Companies to examine the Organization performance and Management efficacy with ERP experience. Investigation only uses the limited samples to examine the relationship between Performance and ERP system. Pakistani Banks Name of Standard ERP 1. Allied Bank Ltd. Unibank Swift 2. Bank Of Punjab Unibank Swift 3. First Women Bank Ltd. Unibank Swift 4. Muslim Commercial Bank Ltd. Unibank Swift 5. National Bank Ltd. Unibank Swift Pakistani Manufacturing Companies Name of Standard ERP 1. Atlas Honda Ltd. SAP(ERP) Germany 2. Pakistan Tobacco Co 1. Atl1. Atlas Honda Ltd.as Honda Ltd. SAP(ERP) System 3. Lakson Tobacco SAP(ERP) System 4. Indus Motors Ltd SAP(ERP) System 5. Packages Ltd SAP(ERP) System Conclusion The literature review and secondary data established that ERP play an important role in growth and uplift of todays organizations and a countrys development. ERP is a major source of change and revolution in the working of organizations now a day. It is also established through data analysis that ERP is the important management tool. It occupies a key role in modern science and technology. It is having a pervasive impact on effect every sphere of life and is having great presence in all industries, in service, as well as, in manufacturing. ERP is being used in all functional areas of the organizations to increase their performance and it is now playing more important role in the organizations than labor and capital do. Over the time the use of ERP has increased rapidly in all the organizations There are different Unibank Soft, ERPs i.e SAP, Orcle Microsoft Dynamic etc in the organizations to help managers to perform their tasks efficiency and effectively as per their level. The organizations are using ERP to achieve new goals and processes and perform the things that were not already done. In one line we say that employees efficiency increase because of implementation of ERP in local baking and manufacturing sector since 1990s. ERP investments have positive impacts on the performance of the organizations and management efficiency