Philosophy †Religion Essay

Explain and illustrate two criticisms of the claims that the universe shows design Many philosophers have suggested that world shows design to the extent that there can be no other conclusion other than there is a God who created it. This argument has come to be known as the teleological argument (from the Greek ‘telos’ meaning ‘purpose’). The argument is an inductive one, a posterior (knowledge gained from experience) and is put forward to prove the existence of God. Design can refer to qua regularity and qua purpose. The former focuses on order and regularity in the world and the latter focuses on purpose and beauty but does this hold up to scrutiny? One criticisms was put forward by Hume in his Dialogues Concerning Natural Religion says that there is no evidence for order in the world. In fact the evidence given seems to suggest an evil creator; the arbitrary destruction in the world that affects everyone included innocents seems to suggest that there is no design or order in the world. Tsunamis, hurricanes and earthquakes can all be cited in Hume’s attack. This is made even more apparent from the fact that modern physics isn’t as ordered as the predominant supporter of the design argument, William Paley. Paley gave examples such as the planets and seasons and even gives backing from science saying that Newton’s laws govern the very body of nature. However this has been proved to be wrong by Princeton University and their study called ‘The Dome’, the study in itself shows that Newton’s law’s are non-deterministic meaning that a ball can drop from any apex (as did in the experiment) without a cause. This shows that even science isn’t ordered as Paley made out. Another criticism is which is also put forward by Hume is that Paley’s argument (that there is, indeed, design in the world) is that this is a disanalogy. Paley gave the example of watch stating that it had purpose (it could tell us the time), regularity (evident through second, hour and minute hand) and design (the mechanisms) and he claims that this is analogous to the world. However this is a clear disanalogy according to Hume; for we have experience of watches and we know that they have designers and thus know that they must be designed, we can not however say the same for the universe, as we only have one and we are contained within it. If we were transcendent and had access to more than one universe or even if we had witnessed them being designed we may have been able to accept Paley’s claims. Hume also says that it’s not analogous because a watch’s purpose is axiomatic but this is unlike the universe where it is subjective. For a Christian, the purpose of life is to create a relationship with God so that they can be eschatologically reunited and the universe allows this (it’s purpose) however a humanist would say that the universe has no purpose and that we are here to live our lives to the full. Thus Paley’s claims are left redundant. To conclude, these two criticisms have shown that there is question as to whether there is design in the world. Hume has shown that design qua (in relation to) purpose and regularity are merely positions which are nothing more than falsities. Explain and illustrate two claims that God’s existence is incompatible with the existence of evil Evil has come to pose one of the single largest threats to theism, indeed, many such as John Stuart Mill and David Hume concluded that God no longer existed because of the existence and the incompatibility of it. Evil has been defined to be the â€Å"absence of good† by Aristotle but it mainly refers to two types, either natural evil which entails natural disasters such as tsunamis or moral which refers to morally wrong actions and intents taken by humans such as infanticide or examples such as the Holocaust. Some try to reconcile the ideas of evil and God (in what has come to be known as theocies) but it is questionable whether they have succeeded. Hume puts the first criticism forward which is known as the logical problem of evil, a deductive argument, by first reissuing the statements as a theist would accept them; 1. God is omnipotent. Omniscient and omnibenevolent 2. Evil (and thus suffering exist) Hume claims that the one and two are incompatible. For if he loved us then he would stop suffering and thus he can not be omnibenevolent. Hume developed his argument through his ‘inconsistent triad’ which states that God is either unable to stop evil which means they he is not omnipotent; that he does not know about the evil which means he is not omniscient. This leads us to the conclusion that God’s existence is logically incompatible with the existence of evil and Hume to say that one of the sides of triangle (attributes of God, considering that evil objectively exists) and so Hume says that it is the â€Å"death† of classical theism. The answer to this could be that evil exists so that we can allow us to spiritually grow, for it is true that we can not become courageous unless an instance of danger arises, similarly we can not gain compassion without suffering. So the criticism is solved through God wanting us to experience suffering so we can go though a process of soul-making (this marks the basis for Iraneus’ theodicy). However this leads to the second criticism which is predominantly put forward by William Row, Charles Darwin and David Hume says that even if we were to accept that evil should exist and it is compatible, the sheer amount and the distribution of it shows that the existence of God and evil is less probable. This inductive argument cites points in history that show that the distribution doesn’t seem to amount justification for soul-making; it can accept the death of an adult, but what of the Gulag and Holocaust? Rowe also notes that there are evils which do not lead to spiritual growth such as people who never recover such as child who has had his whole family burned. Rowe also gives the example of a fawn who burns in a forest but no one is around to see it, who is growing spiritually, what compassion has been encompassed? This anthropocentric approach (by implication) also fails because it leaves animal suffering unanswered. Thus, the view that evil and God’s existence is compatible is made redundant not only in the face of the incompatibility of God’s very nature and the existence of evil but the sheer amount and distribution of it.

Internshp on Performance Evaluation of Exim Bank Ltd

Internship REPORT ON EXPORT IMPORT BANK LIMITED TOPIC: Performance Evaluation of EXIM Bank Ltd. Special Focus on Foreign Exchange Division Department of Business Administration Submitted by www. AssignmentPoint. com Date of Submission: 17th May2012 LETTER OF TRANSMITTAL 17th May2012 To Lecturer Department of Business Administration Subject: Submission of the BBA Internship Report. Dear Madam, It is a great Pleasure for me that I have the opportunity to submit the Internship Report on performance evaluation of Export Import Bank of Bangladesh Limited special focus on foreign exchange division.The internship program gave me an opportunity to have an exposure to the working environment and on the job experience. I have acquired a good understanding on distribution channel of this multinational. I have tried my level best to put meticulous effort for the preparation of this report. Any shortcomings or fault may arise as my unintentional mistakes' I will wholeheartedly welcome any clarifi cation and suggestion about any view and conception disseminated through this report. Sincerely yours www. AssignmentPoint. com †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. SUPERVISOR’S CERTIFICATIONThis is to certify that student of department of BBA and major in Finance, has completed the Internship Report titled â€Å"Performance Evaluation of EXIM Bank Ltd. Special Focus on Foreign Exchange Division† successfully under my supervision. I wish her every success in life. Supervisor †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Lecturer Department of Business Administration Acknowledgement Allah is Almighty to mock internship report of my port of study of BBA Program. The accomplishment and completion of this report would not have been viable without the contribution of some people who took the time and effort to guide me in my report work.I deeply appreciate and value their suggestions and recommendations through the entire course of my report work. I would like to extend my heartiest thanks and my sincerest gratitude to all those who directly/ indirectly contribute to the compilation of report. I am especially grateful to my teacher, my internship supervisor. I could not prepare my Internship Report without her proper guidance and inspiration. Last but not least, I would like to give my thanks to all the members of EXIM Bank Ltd. , Panthapath Branch because working with them was such a wonderful experience in my life that I will never forget.TABLE OF CONTENTS Particular Page No |Executive Summary |VIII | | | | |CHAPTER-1 Introduction |1 | |1. 1 |Origin of the Report: |2 | |1. 2 |Objective of the Report: |2 | |1. |General objective of the Report: |2 | |1. 4 |Specific objective of the Report: |3 | |1. 5 |Scope of the Report: |3 | |1. 6 |Limitations of the Report: |4 | |1. 7 |Methodology of the Study: |4 | |1. |Sources of Information: |5 | | | | | |CHAPTER-2 Economic Conditions In Bangladesh |6 | | | | |CHAPTER - 3 Industry Analysis | | | | |CHAPTER-4 Company Analysis |12 | |4. 1 |Historical Background Of The Exim Bank |13 | |4. 2 |Vision |13 | |4. 3 |Mission |13 | |4. 4 |Objective |14 | |4. |Strategy |15 | | | | | |CHAPTER-5 The General Banking Division |16 | | | | |CHAPTER-6 Loans And Advances Department |24 | | | |25 | | | |29 | | | | | |CHAPTER-7 Foreign Exchange Department |39 | | | | |CHAPTER-8 Competitive position of Export Import Bank of Bangladesh limited with Premier Bank limited |45 | | | | |CHAPTER-9 SWOT & Financial Analysis |51 | | Swot Analysis | | |Ratio Analysis | | |CHAPTER-10 Recommendation & Conclusion |70 | |10. 1 |Findings |71 | |10. 2 |Recommendation |72 | |10. 3 |Conclusion |73 | | | | | Appendix |74 | |Bibliography |78 | Executive Summary Bank is a service oriented business organization. The prime goal of this organization is earning profit as another business organization. Customer service is core product of the bank. According to Bank Company Act 199 1 clause 5(3) Banker means that person or institute of accepting for the purpose of lending or investment of Deposit of money from public, repayable on demand.To know your customer is the main slogan in new modern Banking System providing customer services. EXIM Bank Limited has earned a good reputation around Bangladesh. Despite competition among banks operating in Bangladesh both local and international, EXIM Bank has made remarkable progress, practically in every sphere of its activities. Export Import Bank of Bangladesh Limited is a third generation private commercial bank in the country with commendable operating performance. This study is mainly based on performance evaluation of EXIM Bank Ltd. Special focus on foreign exchange division. In order to make foreign the report more meaningful and presentable, use both the primary and secondary sources of collection information. EXIM Bank Ltd. as already established a favorable reputation in the banking industry of the country. At is one of the leading private sector commercial banks in Bangladesh. The bank has already shown a tremendous growth in the profits and deposits sectors. To get competitive advantage and to deliver quality service management can establish training institute and credit car should be introduced. The over all performance of the bank is very good according to its competitive position. Within a near future EXIM bank will be a market leader among the banks. 1. Introduction: 1. 1 Origin of the Report: In today's world only academic education does make a student perfect to become competitive with the corporate & Global business world.By doing an internship program, a student can get the opportunity to learn facing about real business world. Internship is highly needed to gain idea knowledge and experience. I am a BBA graduate from Private University in Bangladesh. It has designed its curriculum of the BBA Program such a way that the international standard graduates will be produced. After co mpleting my 139 Credit hours I Need to go for further professional experience through Internship program in a Business organization EXIM Bank Ltd. is a place where I have learned the business dealings. This organization has created a positive image to the customer's mind by providing better service specifically I am telling about the Panthapath Branch.This branch has introduced an exclusive modern banking system that has got high market sharing and rating in the prominent business & banking avenue in Panthapath Bank way. As an BBA Internee Office I have tried to maintain the pace with the competitive business environment on official Activities Culture Philosophy Norms & Styles. It should be reflect the best at any field of my Professional life; The Vice President & Manger is my overall Guide Philosopher & Superior. By receiving his all sorts of cordial support I have been availed the opportunity to work with this branch for three months from 10th January 2010 to 9th March 2010. I ac quired idea about real business and corporate world. 1. 2 Objective of the Report: Prime objects to a large-scale study on Banking System. 1. 3 General objective of the Report:The report specification based on the overall banking performance evaluation and special focus on foreign exchange division of EXIM Bank Ltd. 1. 4 Specific objective of the Report: ? To apply theoretical knowledge in the practical field. ? To make a bridge between the theories and practical procedures of banking day-to-day operations. ? To know the different modes of scheme, in EXIM Bank. ? Trend analyses of the different scheme. ? To know the financial activity of bank. ? An overview on the major financial activity and practices of EXIM Bank ? To identify the strategies for EXIM Bank Limited, implementing in constant prosperity of the company ? Analyzing the performance trends of EXIM Bank. To give some idea about its management and organization structure ? To present and overview of EXIM Bank Ltd. ? Compare the different mode of scheme of Exim Bank with other similar bank. 1. 5 Scope of the Report: First the report presents about the current economic condition of Bangladesh and the present condition of the banking sector of our country and next it gives some ideas about EXIM Bank Ltd. Then it analyzes the performance of the bank based on financial analysis and SWOT analysis. After that, it emphasizes or foreign exchange division. By reading this report one can easily have some ideas about the performance and foreign exchange division of EXIM Bank Ltd. 1. 6 Limitations of the Report:Although there were sincere co-operation from employees of EX1M Bank Limited, Panthapath Branch, they could not manage enough time to provide the necessary information for the completion of the report. During the preparation of the report the following problems occurred that may be termed as the limitation or shortcomings of the study. Some of the limitations faced in preparing this report are: ? Confidentia lity the Bank's policy restricts disclosing some data ? Data about the performance of the bank of the year 2008 have not yet been disclosed by the bank. ? The study of such a short course of time is not free from limitation. ? The data relevant for the analysis report writing sometimes could not be collected due to excessive year-ending workload at the branch. It is too much difficult to comment and suggest based on only the annual report and information collected from written documents. ? As some assumptions were made with the help of limited information, there may be some personal mistake in the report ? It was very difficult to collect the information from various incumbents for the job restriction. 1. 7 Methodology of the Study: Although there were so many limitations, it was tried to use both the primary and secondary sources of collecting information to make the report presentable with as less abstraction as possible. 1. 8 Sources of Information: Two sources (i) Primary & (ii) Secondary A.Primary data: Primary data is always known as survey data. This type of data is collected from the respondent. For this personal Interview with the offices and customers have been conducted. B. Secondary Data: Data that were published before for some other reason can be collected using internal and external sources. i) Internal secondary data: To furnish the report properly some papers has been collected from the officials of EXIM Bank Ltd. Information from annual reports journals, newspapers and other published documents have been used besides other published information about the organization, depth interview of the branch manager and second branch manager have also taken. i) External Secondary data: For better interpretation some data has been collected from Bangladesh Bank. Internet Browsing is also one source of external Secondary data. 2. ECONOMIC CONDITIONS IN BANGLADESH Bangladesh has an agrarian economy with 32% of GDP coming from the Agriculture Sector. Major agricultural products are rice, jute, wheat, potato, pulses, tobacco, tea and sugarcane. . The country is the largest exporter of jute and jute goods in the world. Readymade garments are among the most exportable items. Tea, frozen shrimp, fish, leather goods and handicrafts are also major exportable commodities. The country has under gone a major shift in its economic philosophy and management in recent years.At Bangladesh's birth, the country embraced socialism as the economic ideology with a dominant role for the public sector. But, since the mid-seventies, it undertook a major restructuring towards establishing a market economy with emphasis on private sector-led economic growth. During the nineties, the country has completed a major stabilization program which has reduced inflation as well as fiscal and current account deficits and established a healthy foreign exchange reserve position with low and sustainable debt-service liabilities. With modest economic growth, the basic in dicators related to health, education and poverty have all shown sustained improvement.According to a World Bank estimate, Bangladesh has the 36th largest economy in the world in terms of GNP based on the purchasing power parity method of valuation, and the 55th largest in terms of nominal GNP in U. S. Dollars. Bangladesh economy grew on an average at above 6. 0 percent in the last four years up to FY07 . According to the provisional estimates of the Bangladesh Bureau of Statistics (BBS),real GDP recorded a strong growth of 6. 5 percent in FY07,which is marginally lower than 6. 6percent recorded in FY06 . This growth was commendable as it was achieved in challenging environment marked by high and volatile oil price ,phasing out of the MFA quota, labour unrest in the garment industry and confrontational political situation of the country in the first half of FY07. With reasonable support from agriculture sector, the 6. percent real GDP growth was underpinned mainly by industry sector and services sector. The expansion was broad based, registering positive growth by all sectors and sub-sectors of the economy. Spurred by a robust 9. 5 percent growth in industry sector and 6. 7 percent growth in services sector, GDP growth during the year was also aided by 3. 2 percent growth in the agriculture sector. The domestic savings-investment gap was met with net factor income from abroad which increased by 37. 0 percent in FY07 from 4. 4 percent in FY06 reflecting higher savings growth. The domestic savings investment gap was met with net factor income from abroad which increased by 37. 0 percent in FY07.The rising trend of inflation of FY06 as measured by CPI continued in FY07 mainly due to higher prices of oil and some other imported goods in the international market, distortion in the supply side factors and demand pressure generated from excess money supply . Slower import of consumer necessities pulling their domestic prices heightened the price pressures. Annual ave rage CPI (base FY96) inflation as of end June 2007was 7. 20 percent, compared to 7. 16 percent as of end June 2006. There was notable increase of food prices component of CPI inflation from 7. 8 percent as of end June 2006 to 8. 1 percent as of end June 2007. Maintaining a favorable investment environment and a sound macroeconomic management are important to strengthen private sector investment in the economy.In view of medium term outlook of sustainable economic growth and low inflation for world and south Asian economies and assuming continuation of prudent policies and progress in advancing structural reforms, the near and medium term economic prospects of Bangladesh appear favorable. 3. INDUSTRY ANALYSIS Bank plays an important role in this modern world. The development of industries and business sectors of a country mainly depends on good banking system. The industries and businessman are taking short and long term loan from banks. In the modern world international businesses a re fully depended on banks. Without sound banking system no country can develop in international trade. Bank constitutes an important segment of the financial infrastructure of any country. The economic history of many countries reveals that economic development and growth of financial infrastructure go hand in hand.Financial system of a country is the heart of a country’s economic system as it connects suppliers of the funds and demanders of fund, which is needed to produce economic goods. It also provides a large arena of employment opportunity. As Bangladesh is containing a bank base economy, its economic development is largely depended on the development of banking sectors. Bangladesh appeared as a new nation on the world map in the year 1971. After independence financial institutions, especially banks played a vital role in re-constructing the war-torn economy of Bangladesh. Bangladesh Bank is the central bank of the country and is in charge of monetary policies of the G overnment and controls all commercial banks. Development and growth of our banking system may be divided into three parts. The performance of our banking system during 1972 to 1982 was commendable in respect of expending network and providing easy credit to the socially desirable sectors but equally frustrating with regard to maintaining validity and customer services. The second phase from 1983 to 1989 was characterized by denationalization and privatization of banking system without broad-basing the prudential and information regulatory framework; however, these measures of denationalization and privatization could not bring the viability and operational efficiency of banking system.Under the above circumstances and with the recommendation of World Bank, a Financial Sector Reform Project (FSRP) was undertaken in 1989 by the government, which can be identified with third phase of the development of our banking system. The government of Bangladesh has also enacted some important act s namely financial institutions act 1993, Securities and Exchange Commission act 1993, the companies’ act 1994 and recently Bankruptcy act 1997. The present day banking structure has evolved over several decodes. The far-reaching program of economic reform is being carried out at present towards efficient utilization of scare resources and the development of private entrepreneurship. Banks are financial service firms, producing and selling professional management of the public's fund as well as performing many other roles in the economy.Banks are those financial institutions that offer the widest rang of financial functions of any business firm in the economy. Competition is strengthened by the entry of new and innovative provides of financial services, through the development of Money market and Capital market. Money market is designed for the making of short-term loans where individuals and institutions with temporary surplus of funds meet borrowers who have temporary cash shortages. Capital market is deigned to finance long-term loans where individuals and institutions with temporary surplus of finds meet borrowers who have temporary cash shortages. Capital market is designed to finance long-term investments.Private sector commercial banks are private companies operate under the legislative framework, which covers both Company Act, and Banking Company Act, under the ongoing financial liberalization, EXIM Bank emerges as a new Bank in private sector to operate at the Banking arena of Bangladesh It is committed to provide high quality financial services/ products to contribute to the growth of GDP of the country through stimulating trade and commerce, accelerating the pace of industrialization, boosting up export, creating employment opportunity for the educated youth , poverty alleviation, raising standard of living of limited income group and overall sustainable socio-economic development of the country. 4. COMPANY ANALYSIS 4. 1 HISTORICAL BACKGROUND OF THE EXIM BANK EXIM Bank- Export Import Bank of Bangladesh Ltd. was named at first as BEXIM Bank BEXIM stands for Bengal Export Import of Bangladesh. This new commercial Bank was opened in August 03, 1999 with some new innovative visions in customer services.The Bank received the certificate of incorporate no. C-37864 (2164)/99 under the commencement of the business on the same day by the section 150(2) under companies Act. A part from the head office in Dilkusha C/A, it stared its first local branch in Motijheel C/A simultaneously in order to provide all kinds of Banking support to the clients. On December 02, 1999 the second branches both in Dhaka City and other cities. Now it has twenty-five branches in the country. 4. 2 VISION The gist of EXIM bank vision is ‘Together Towards Tomorrow'. Export Import Bank of Bangladesh Limbed believes in togetherness with its customers, in its march or the road to growth and progress with services.To achieve the desired goal, there will be pursuit of excellence at all stages with a climate of continuous improvement, because, in EXIM Bank, they believe, the line of excellence is never ending. Bank's strategic plans and networking will strengthen its competitive edge over others in rapidly changing competitive environments. Their personalized qualities services to the customers with the trend of constant improvement will be cornerstone achieve their operational success. 4. 3 MISSION The bank has checked out the following corporate objectives in order to ensure smooth achievement of its goals- ? To be the most caring and customer friendly and service oriented bank. ? To create a technology base most efficient banking environment for its customers ? To ensure ethics and transparency in ail levels To ensure sustainable growth and establish full value of the honorable shareholders and ? Above all, to add effective contribution to the national economy Eventually the bank also emphasize on: ? Provide high quality financia l services in export and import trade ? Providing efficient customer service ? Maintaining corporate and business ethics ? Being trusted repository of customers’ money and their financial adviser ? Making its products superior and rewarding to the customers ? Display team spirit and professionalism ? Sound Capital Base ? Enhancement of shareholders wealth ? Fulfilling its social commitments by expanding its charitable and humanitarian activities 4. Objective Bangladesh is now integral part of global market. As such there is an urgent requirement for Bangladesh to place the traditional banking pretties in harness with the global trades of a free market economy by following international banking customs, practices and standards. Today clients of a bank in Bangladesh are exposed as well as international markets. They have to stay update with their practice and standards to meet the demands of achieving harmony in the high standards of a free economy. EXIM Bank fully appreciates the importance and implication of the rapidly emerging competition in the banking and finance sector of Bangladesh.It intends financing its customer suited to his or her place in the market. In this regards EXIM Bank emphasizes in its employment the software aspects of human resource capability. It also emphasizes competence among its banking professional to cater to vary customer requirements to the modern time. The objectives of EXIM BANK is not only to earn profit but also to keep the social commitment and to ensure its co-operation to the person of alt level, to the businessman, industrialist specially who are engaged in establishing large-scale industry by consortium and the agro-based export oriented medium and small scale industries by self inspiration.EXIM BANK is always ready to maintain highest quality of services by upgrading banking technology prudence in management and by applying high standard of business ethic through its established commitment and heritage. EXIM BANK is committed to ensure its contribution to national economy by increasing its profitability through professional and disciplined growth strategy for its customer and by creating corporate culture in international banking area. 4. 5 Strategy In order to reach the goal it is important to build strategy and follow the policies. If it can select the appropriate strategy and choose the right policy, it will be very easy to touch its desired position.The distinguishing attribute of policy is to set the over all boundaries for activities. According to this system when the bank was started it has to decide what kind of business it is going to be in. The Bank also has to decide on its growth and communicate through am system of major objective of the business is to reach the goal, to reach the desired position from the current status. There might be a number of ways to reach there and its has to be decided which path would be easier to reach the objective. So the authority has no decided wh ich path they select to proceed. The following figure can be explained clearly. Slogan of the EXIM Bank: â€Å"Local Bank Global Network†The world EXIM implies the meaning of its operation. Through it is a new type of Bank in Bangladesh; it is familiar with so many countries in the world such as Export Import Bank of the United States, Export Import Bank of Japan. Despite it is a local Bank, It has spread of its operation in the whole world through foreign Banking. To achieve the desired goal, it has intention to pursuit f excellence at stages with a climate of continuous improvement. Because it believes, the line of excellence is never ending. It also believes that its strategic plans and business networking will strength its competitive edge over in rapidly changing competitive environment.It motto I to provide quality service to the customers all over the world so, the slogan of the Bank â€Å"Local Bank Global Network† is completely adjustable with its operation. T HE GENERAL BANKING DIVISION Internship has provided the opportunity to coordinate the theoretical knowledge that one has gathered in MBA Class with the practical field. Although three months is not a very long period to learn the whole thing that usually occurs in an organization. The supervisor divided this report into three parts. 1) The general banking department 2) The Investment department 3) The foreign Exchange department. Learning experience from General Banking Division:The main business of this Division is dealing with Deposit. There are two types of Deposit in this Branch and General Banking division as the following section: 1. Deposit section 2. Account Section 3. Remittance section 4. Clearing section 5. Customer Service section 6. Cash section and 7. Information Technology section Task I Handled in this Division is 1. Opening Accounts 2. Opening Monthly saving scheme, 3. Modaraba Term Deposit Account Current 4. Deposit foreign current Deposit Account 5. Modarada short notice Deposit (STD). 6. Fixed Deposit, Steady Money. 7. Demand Draft (D. D) 8. Telegraphic Transfer (T. T) 9. Payment Order (P/O) 10. Travelers Check (T. C) 1. Issuing Check. Pay Order (PO): Pay order is one kind of unconditional promissory note or instrument that is issued by the Bank to the customer. The difference between check and pay order is the mode of encasement. Demand Draft: Demand Drafts are made for the transfer of money from one place to another in the form of cheques through a particular Bank, which can be ensued right way. The Bank issues DD for their outer district branches. Telegraph/ Telephone Transfer: When a certain amount of money is asked by the client to transfer from one branch to another than it is called telegraph/ telephone transfer. For TT, there is a particular from.When the form is filled up properly and deposits the amount by the applicant, the authorized officer issued a cost memo to the application for their confirmation. lssuing cheques Books: Che ckbook issue is a very sensitive because most of the fraud occurs through this checkbook. Customer requiring check books to fill out requisition ship. For saving accounts 10 pages check book issued and CD/SOD/ CC accounts issued 25 and 50 pages checkbook. Cash Section: In clearing section the work is to clear the cheques, DD's and PO's through Bangladesh Bank that are submitted for cash collection. Everyday morning House another in the evening called return house.In the hose all the Banks representative sit together and exchanges their money receive instrument of their particular bank to clear the paper and transfer to money the paper partlcular accounts. Type of Clearing: There is two type of clearing 1) In-Ward 2) Out –Ward In- ward: Those Cheques or instrument of EXIM, which are submitted to other banks for collections are called In – Ward Clearing. Out- Ward: The cheques of other banks that are submitted to the EXIM for collections are called out-ward Clearing. Cas h Section: Cash is the main element of all financial activities. The cash section of any branch plays very significant role. It's very sensitive place of the branch, because it deals with most liquid assets. The EXIM Bank Mirpur Branch has an equipped cash section.This section receives cash from depositors/Client and pays cash against cheques draft, payment order and pay to slip over the counter This section deals with all type as of negotiable instruments and in includes volt. Used as the store of cash instrument, the main functions of the sections are cash receipt and cash disbursement. Accounts Opening Section: This section deals with opening of different types of accounts. It is also deals with issuing of books and different deposit boos to the different accounts opener. A customer can open different types of accounts through this department such as: l. Current Account 2. Saving Account 3. Fixed deposit account (FDR) 4.Short term Deposit (STD) 5. Monthly saving Scheme (Money Gro ver) 6. Monthly income scheme (Steady money) 7. Smart saver Scheme 8. Multi plus saving Account 9. Super saving scheme 10. Education saving scheme EXIM Bank gives special importance various deposit schemes are: l. Monthly saving Scheme (money Grower) 2. Monthly income scheme (Steady Money) 3. Multi plus savings A/C 4 Super saving scheme 5. Double benefit Scheme 6. Smart saver Scheme 7. And Education saving Scheme Types of Accounts with Terms and Conditions Current (CD) Account: Current account is purely a demand deposit account. There is no restriction on withdrawing money from the account.It is basically justified when funds are to be collected and money is to be paid at frequent interval. Some Important Points are as follows- †¢ Minimum opening deposit of TK. 1000/- is required; †¢ There is no withdrawal limit. †¢ No interest is given upon the deposited money; †¢ Minimum Tk. 1000/= balance must always maintain all the time. Savings (SB) Account: The bank provid es savings account services for the ease of its clients. It offers both personal and corporate Savings Account to its clients in every branch. Hence, there is a restriction on withdrawals in a month. Heavy withdrawals are permitted only against prior notice. Some Important Points are as follows- Minimum opening deposit of Tk. 5000/= is required; †¢ Minimum Tk. 1000/= balance must always maintain all the time; †¢ Withdrawal amount should not be more than 1/4th of the total balance at a time and limit twice in a month. †¢ If withdrawal amount exceed 1/4th of the total balance at a time no interest is given upon the deposited money for that month. †¢ The current rate on deposit amount is 6%. †¢ Closing of saving accounts will cost 300tk to a customer. Short Term Deposit (STD) Account: Normally various big companies, organizations, Government Departments keep money in STD account. Frequent withdrawal is discouraged and requires prior notice.The deposit should be kept for at least seven days to get interest. The interest offered for STD is less than that of savings deposit. Interest is calculated based on daily minimum product and paid two times in a year. Interest rate is 4. 50%. Call Deposits (Money at Call): Sometime the banker secures funds from the money markets usually from other bankers against receipt to meet his purely tepmorary shortage of funds. These debts are repayable immediately at call. When the money market is tight such derosits attract higher rate of interst and then to be treated as banker’s borrowings as call loans. Account opening: To dill with the bank individuals need to have an account first.The particulars are essential for identification of the account holders individually so that the banker can discharge his obligations to every one correctly and to the extent due. Documents required for opening account ? Individual / Joint Account: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Identity (copy of passport). 4. Joint Declaration Form (For joint a/c only). 5. Employee’s Certificate (in case of service holder). ? Partnership account: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Partnership letter duly signed by all partners (Sign should be similar as stated in Partnership Deed). 4. Partnership Deed duly certified byNotary public. 5. Registration (If any). 6. Updated Trade license. ? Proprietorship account: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the introducer. 3. Valid copy of Trade License. 4. Rubber stamp. 5. TIN number certificate. 6. Identity (Copy of passport). 7. Permission letter from DC/ Magistrate (in case of newspaper) 8. ? Limited company: 1. Introduction of the account. 2. Two photographs of the signatories duly attested by the Introducer. 3. Valid copy of Trade License. 4. Board resolution of opening A /C duly certified by the Chairman/Managing Director. 5. Certificate of Incorporation. 6.Certificate of Commencement (In case of Public limited company). 7. Certified (joint stock) true copy of the Memorandum and Article of Association of the Company duly attested by Chairman or Managing Director. 8. List of directors along with designation & specimen signature. 9. Latest certified copy of Form – xii (to be certified by register of joint stock companies) (In case of Directorship change). 10. Rubber Stamp (Seal with designation of each person) 11. Certificate of registration (In case of Insurance Company – Obtained from department of Insurance from the Peoples Republic of BD). ? Club / societies account: 1. Introduction of the account. 2.Two photographs of the Signatories duly attested by the introducer. 3. Board Resolution for Opening A/C duly certified by President/ Secretary. 4. List of Existing Managing Committee. 5. Registration (if any). 6. Rubber Stamp. 7. Permiss ion letter from Bureau of N. G. O. (In case of N. G. O. A/C). Savings Scheme; †¢ Monthly Income Scheme †¢ Multiplus Savings †¢ Smart saver †¢ Super Saving Scheme †¢ Monthly Savings Scheme (Money Grower) †¢ Hajj Scheme Finance/Loans: †¢ Corporate Finance †¢ Industrial Finance †¢ Lease Finance †¢ Hire Purchase Finance †¢ Commercial Loans †¢ Project Finance †¢ Syndicate Loans †¢ Retail Loans †¢ Mortgage Loans †¢ Loan against Share and Securities †¢ Account Opening Procedures: Step 1 | | | |The account should be properly introduced by Any one of the following: | | |An existing Current Account holder of the Bank. | | |Officials of the Bank not below the rank of an Assistant officer. | | |A respectable person of the locality well known to the Manager/Sub-Manager of the Branch concerned. | |Step 2 | | | |Receiving filled up application in bank’s prescribed form mentioning what type of account is de sired to be | | |opened. |Step 3 | | | |The form is filled up by the applicant himself / herself | | |Two copies of passport size photographs from individual are taken, in case of firms photographs of all | | |partners are taken | | |Applicants must submit required documents | | |Application must sign specimen signature sheet and give mandate | | |Introducer’s signature and accounts number – verified by legal officer | |Step 4 | | | |Authorized Officer accepts the application | |Step 5 | | | |Minimum balance is deposited – only cash is accepted | |Step 6 | | | |Account is opened and a Cheque book and pay-in-slip book is given | Account Sections: Daily function: The routine daily tasks of the accounts department are as follows: 1. Recording the daily transactions in the cash book 2. Recording the daily transactions in general and subsidiary ledgers 3. Preparing the daily position of the branch comprising of deposit and cash 4.Preparing the daily statement o f affairs showing all the assists and liability of the branch as per ledger and subsidiary leader separately. 5. Making payment of all expenses of the Branch 6. Recording inters branch fund transfer and providing accounting treatment in this regard. 7. Checking whether all the vouchers are correctly passed to ensure the Conformity with the Activity Report; if otherwise making it correct by calling the respective official to rectify the voucher. 8. Recording of the vouchers in the Voucher Register 9. Packing of the correct vouchers according to the debit voucher and the credit voucher. Periodical Tasks: The routine periodical tasks performed by the department are as follows. 1. Preparing the monthly salary statements for the employees 2.Publishing the basic data of the branch 3. Preparing the weekly position for the branch this is sent to the Head Office to maintain Cast Reserve requirement 4. Preparing the monthly position for the branch, this is sent to the Head office to maintain statuary liquidity requirement. 5. Preparing the weekly position for the branch comprising of the break up of sector wise deposit, credit etc. 6. Preparing the weekly position for the branch comprising of the denomination wise statement of cash in tills. 7. Preparing the budget for the branch by fixing the target regarding profit and deposit so as to take necessary steps to general and mobilize deposit 8.Preparing an Extract' which is a summary of all the transactions of the Head Office account with the branch to reconcile all the transaction held among the accounts of all the branches. General Account: General account is important one, which has to be maintained by each branch. Indeed general account is are record of Oregonian and responding transactions among inter- branches of the same bank. All types of assets and liabilities of one branch with another one are settled through this account. Branch can know how much the bank is liable with Head Office. The debit and credit balance shows assets and liabilities of the respective branch. Statement or Affairs:Accounts section prepares the statement of affairs for finding the profit/ loss as well as amount of assets and liabilities of concerned branch per day Theoretically, it is called financial statement and has tow parts: 1. Income and Expenditure Account 2. Statement of Assets and Liabilities Amortization and Depreciation: Amortization is the allocation of the cost of an intangible asset to expense for example, prepaid expenditure, prepaid insurance and good will etc Amortization schedule is determined by the decision of management. Establishment: This section deals with employee's salary, much type of internal expenses such as purchase of pen, paper equipment, machinery and payment of labor Cost and employee conveyance. In cause of leave of absence employee collects prescribed from this section. LOANS AND ADVANCES DEPARTMENT Introduction:Banking is essentially a business dealing organization with money and c redit like all other business activates. Banks are profit-oriented organization. A bank invites its find many ways to earn more and more profit and most of its income is derived from loans and advances. Bank makes loans and advances to traders, Businesspersons, industrialists and many other persons against security of some cautions policy and sound lending principle in the matter of lending. EXIM Bank is a lending bank in loans and advances and it grant loans in various sectors especially in industry, trade and commerce. Types of loans and advances: There may be different types of loans and advance given from the commercial banks such as EXIM Bank Ltd. Of our country.Loans and advances may be in the following types: 1. Cash credit 2. Overdraft 3. House Building loan (General and Staff) 4. Transportation (Car) loan (only for senior staff) 5. Consumer credit Scheme 6. Loan against Imported Merchandise (LIM) 7. Loan Bills purchases Documentary (LBPD) 8. Loan against Other Securities (L AOS) 9. Term Loan Brief Idea about the different types of loans and advance: Cash Credit (CC): Cash credit is an arrangement by which the customer is allowed to borrow May up to a creation limit. This permanent arrangement and the customers need not to draw the sanctioned amount of money at a time. The borrower can draw the money when required.The borrower can put back any surplus, amount, which he/she may he affect frequently. Intersect is charged only to the amount with drawn and not he whore amount sanctioned cash credit arrangement is usually divide into two ways such as: 1. Cash credit pledge 2. Cash credit hypothecation Cash Credit Pledge: In case of cash credit pledge possession of the goods dealings to bank and ownership of the of the goods belongs to borrower and bank the possessions of the goods as primary security. The goods storied in go down under lock and key by direct supervision of the bank. If the borrower wants to sell any potion of the pledged goods he/she permiss ion of bank with returning the value of the loan amount.It is therefore regarded as the most secured type of advance. Cash Credit hypothecation: In case of cash Credit hypothecation possession of the goods not transferred to the bank and therefore such and advance is no better than a clean loan, such an advance can thus only be granted to a person in whose integrity the barked has full confidence cash credit in the form of Hypothecation is normally accompanied with mortgagee of immovable properties. The pray/ borrower possesses the lock and key of the down. The Formalities of opening cash Credit: There intending cash credit holder should submit the following documents and being fill up properly: 1. Stock repot, rend receipt 2. Trade license 3.Up to date income tax clearings certificate 4. Charge documents 5. Letter of Continuity 6. Letter of arrangement 7. DP (Demand Promissory) note 8. Letter of guarantee 9. Letter lien 10. Limit sanction advice 11. Non-Encumbrance Certificate Obse rving the documents the bank authority prepares a cc proposal from that contains the following information: 1. Nature of business 2. Banking with EXIM 3. Transition with CD account by the client 4. Allied deposit with SB/STD account. 5. Number of adjustment (s) how many times the CC holder made his/her Account nil that means debit balance equal to credit balance. 6. Recycling it is ration of total credit summation to the limit.If the ratio is Higher it is better from banker's points of view. 7. Turn over in the account 8. By the encasement authority the bank holds the power to encase the FDR the encasement authority at any time in case borrower's failure to repay the loan amount with interest in due time. Based in the above-mentioned information the dealing officer of the loans and advances department prepares recommendation about the prospect of granting the CC loan to the client. Overdraft: Overdraft is an arrangement between the banker and the customer by which the letter is allo wed to withdraw over his/her credit balance in the current account up to an agreed limit.The borrower is permitted for draw and repays any number of times, provided he total amount overdrawn dose not exceeds the agreed limit. Here the interest is charged only for the amount withdrawn over the limit. Not for the whole amount. Overdraft is divided into tow categories:  ¦ Secured overdraft (SOD)  ¦ Temporary overdraft (TOD) Secured overdraft: It is allowed against the full security (i. e. FDR, ICB unit Certificates). Temporary Overdraft: It is allowed to the customer for a very short period of time. But EXIM bank deals only secured overdraft. Car Loans: This is a special type of loan, which is only provided for the staff of EXIM Bank.Usually AVP and above level officers get this kind facility. This loan is reimbursed on instrument basis and repayable after each month. House Building loan (General and Staff): General house building loan is providing into two sectors:  ¦ Generally  ¦ Staff Naturally house building loan is paid for the construction of commercial building, and owners etc, procedures for sanctioning house- building loan as follows:-  ¦ Application for sectioning loan  ¦ Application properly filled up for credit facilities supplied by the bank.  ¦ Personal net worth statement each director  ¦ Enquiry form Required papers for sanctioning HB loan:  ¦ Copy of general power of attorney  ¦ Copy of material certificate Copy of engineer's estimate  ¦ Copy of projected cash flow Loan (General): In case of loan the banks sanction some of money for a certain period of time. The enter amount is one time disbursement and paid in cash or credit loan A/C. The interest is charged on full sanctioned amount @16%. The bank generally sanctions loan to establish industry. These types of loan are granted for capital expenditure such as purchase of land, constriction of factory building, purchase of new machinery and modernization of plant. The borrowe r cannot withdraw this type of loan once repaid in full or in part again. Formalities for extending project loan: Loan application form:After receiving the loan application from the borrower the branch scrutinizes the application whether it is viable or not. Loan application from contains the following particulars amongst other detail below:  ¦ Particular description of the Project.  ¦ Nature of the Project  ¦ Detail information about the borrower  ¦ Statements of assets and liabilities of the borrower with declaration  ¦ Detail information about proposed products, machinates and manpower etc  ¦ Project cost and source of fund.  ¦ Market for the proposed project. Feasibility report: This report is provided by the borrower, which includes the following aspects of the project:  ¦ Marketing aspect  ¦ Technical aspect financial aspect  ¦ Managing aspect  ¦ Socio-economic aspect 1) Classification Procedure 1.Categories of Loans- At first all loans and advances will be grouped into four categories for the purpose of classification, such as- (a) Continuous Loans (b) Demand Loans (c) Fixed Term Loans and (d) Short Term and Agriculture & Micro Credit. (a) Continuous Loans : The loan A/C in which transaction may be made within a certain limit and have an expiry date for full adjustment will be treated as continuous loan. Exp CC, OD etc. (b) Demand Loans: The loan that becomes repayable by the party on demand by his bank will be treated as demand loans. If any contingent or any other liabilities are turned into forced loan will also be treated as demand loan. Exp. LIM, PAD, FBP, IBP etc. (c) Fixed Term Loans: The loan which is repayable with in the specific time period under a pacific repayment schedule will be treated as Fixed Term Loans. d) Short Term Agriculture & Micro Credit: Short Term Agricultural Credit will be as per list issued by Agricultural Credit and Specialized Programmers Department (ACSPD) of Bangladesh Bank under the Agricultural C redit Programmed. Credit in the Agricultural sector repayable within 1(one) year will also be included herein. Short Term Micro Credit includes any micro credit not exceeding TK. 25,000. 00 and repayable within 12 months. 2) Basis for Loan Classification: (A) Objective Criteria (1) Past due/ over due: In this point we saw four factors those are; a) Any continuous loan if not repaid / renewed within the fixed expiry date for repayment be treated as past due/ overdue from the following day of the expiry date. ny demands loan if not repaid/ rescheduled within the fixed expiry date will be treated as past due/ overdue from the following day of the expiry date. b) In case any installment of a fixed term loan (repayable within fives) is not repaid within the fixed expiry date, the amount of unpaid installment will be treated as past due/ overdue (defaulted instilment) from the following day of the expiry date of the particular installment. c) Incase of any installment or part installment of a Fixed Term Loan (repayable over five years) is not repaid within the fixed expiry date, the amount of unpaid installment will be treated as past due/ overdue after 6(six) months of the expiry date of that particular installment. ) The Short Term Agriculture & Micro Credit if not repaid within the fixed expiry date for repayment will be considered as past due/ over due (defaulted instilment) after 6(six) month of the expiry date. (B) Qualitative Judgment; If any uncertainty or doubt arises in respect of recovery of any continuous, Demand or Term Loans the same will have to be classified as Sub- Standard or Doubtful or Bad/ Loss. Considering the merit of the A/C on the basis of qualitative judgment be it classified or not on the basis of objective criteria. The Bank will classify on the basis of qualitative judgment and can be- classify loans if qualitative improvement does occur.But if a loan classified by Bangladesh Bank inspection Team, the same can be de- classified with the approval of the Board of Directors of the Banks. CIB Report: Before making credit report to the head office the lending branch takes the credit information to the borrower from the CIB (credit Information Bureau) of Bangladesh Bank and other financial institutions. For obtaining this report the branch sends Inquiry form' to CIB duly filled in particulars of the borrower. The report id divided into 5 segments. Project appraisal: It is the reinvestment analysis done by Banker before a project is approved. Project appraisal in the Banking sector is needed for following reasons:  ¦To ensue repayment of the Bank finance To achieve the organizational goals  ¦To establish industrialists in a country. The main tasks of the project appraisal is to justify the soundness of an investment by the Banker by means of a capital and systematic of the different elements of the Project For this purpose Banks use two types of analysis:  ¦Lending Risk Analysis (LRA)  ¦Spread Sheet Analysis (SSA) Lending risk analysis: Lending risk analysis is modern methodologies, which describes how to access the risks that are inherent any credit extension and how to access the likelihood that the customer will repay a loan. The LRA form contains 16 pages to analysis different categories of Risks.The Financial Sector Reform project introduces the lending Risk analysis format in 1993. LRA is a standardize format for analyzing the credit worthiness of a borrower and the likelihood that the borrow will repay. Bangladesh bank issued a letter number BCD (p) 611/13/290 dated 17-07-1994, which now makes it mandatory for the commercial Banks to implement the LRA approach to credit analysis prior to extending credit facilities to a Borrower. The modern concept of lending is purpose and production oriented and not security oriented. The emphasis should be given not any security rather on he likelihood of repayment, the credit worthiness of the customer soundness and viability of the business etc. Lending PrinciplesThe Principle of lending is a collection of certain accepted time tested standards, which ensure the proper use of Investment fund in a profitable way and its timely recovery. Different authors describe different principles for sound lending. 1. Safety 2. Security 3. Liquidity 4. Adequate yield 5. Diversity Process of Investment |Heads |Characteristics | |Application |Applicant applies for the Investment in the prescribed form of the bank describing the types | | |and purpose of Investment. |Sanction |Collecting credit information about the applicant to determine the credit worthiness of the | | |borrower. Sources of information | | |Personal Investigation, Confidential Report from other bank, Head Office/Branch/Chamber of | | |Commerce. | | |CIB (Central Information Bureau) report from Central Bank. | | |Evaluation of compliance with its lending policy. | | |Evaluating the proposed security. | | |LRA is must for the Investment exceeding one crore – as ord ered by Bangladesh Bank. | |If everything is in accordance the Investment is sanctioned | |Documentation |Then bank prepare a Investment proposal which contains terms and conditions of Investment for | | |approval of H. O. or Manager. | | |Takes the necessary papers and signatures from borrower | |Disbursement |An Investment Account is opened. Where customer | | |A/C—————————————————————————————Dr. | | |Respective Investment A/C —————————————-Cr. |FOREIGN EXCHANGE DEPARTMENT Introduction: One of the largest businesses carried out by the commercial bank is foreign trading. The trade among various countries fills for close link between the parties dealing in trade. The situation calls for experti se in the field of foreign exchange operations. The bank, which provides such operations refereed to as rending international Banking operation. Mainly trisections with overseas countries are respects of import, export and foreign remittance come under the preview of foreign exchange transaction, and international trade demands a flow of goods from seller to buyer of payment from buyer to seller.In this case the Bank plays a vital role to bridge between the buyer and seller. Foreign Exchange Mechanism in Flow Chart: Sales/Purchase contract Issues L/C Forward Forward documents Makes payment Makes payment Foreign Exchange department of EXIM Bank is department of all departments. This department handles various types of activates by three separate sections: 1. Import Section 2. Export section 3. Foreign Remittance. Import Section: The functions are of the section is mainly to deal with various components such as  ¦ Letter of Credit (L/C)  ¦ Payment against Document (PAD)  ¦ Payme nt against Trust Receipt (PTR)  ¦ Loan against Imported Merchandise (LIM) Letter of Credit (L/C): Definition:A letter of credit can be defined as an arrangement where in a Bank Guarantee on behalf of these customers to make payments to the beneficiary upon presentation of documents specified in the credit. Parties involved in L/C: Opener/ Buyer/Importer: The person who opens the L/C is known as opener/ buyer/importer of the L/C. The buyer and the seller conclude a sales contract providing for payment by documentary credit. 0pening Bank: The Bank issuing the L/C in favor of exporter is known as opening Bank. The opening bank opens L/C on request of importer according to application of the importer. Advising Bank: The Bank through L/C is advised their agent (correspondent Bank) abroad.The duty of the advising Bank is to authenticate the message so that is to the seller can act on it without any fear of forgery etc. Beneficiary: Seller and exporter in whose favor the L/C are opened. The beneficiary is normally the seller of good who receive payment under documentary credit. If has compiled with terms and conditions thereof. Negotiating Bank: The Bank that is authorized to handle (purchase) the documents under the L/C in the exporting country is known as negotiating Bank. L/C will stipulate either a notified bank to negotiate (restricted L/C) or any bank can negotiate in the seller’s country (unrestricted L/C). Reimbursing Bank: The Bank that is (by the L/C issuing Bank) to effect reimbursement is known as reimbursing bank.Reimbursing Bank authorized to honor the reimbursement claims in settlement of negotiation/ accepting/ payments lodged with its by the paying/ negotiating/ accepting Bank. Confirming Bank: A Confirming Bank is one which adds the guarantee to the credit opened by another bank. Therese undertaking the responsibility of payment/ negotiating/ acceptance under the credit in addition to that of the issuing Bank. A confirming Bank normally doe s so it requested by the issuing Bank. Types of L/C: – Revocable/ irrevocable L/C – Confirmed/ unconfirmed L/C. – Transferable L/C – Back to back L/C – Acceptance L/C – Revolving L/C – Red clause L/C – Green close L/C The EXIM Bank basically deals with irrevocable L/c. which can not be amended or cancelled by the issuing Bank at any moment and without prior to the beneficiary.It also deals back to back L/C, which is the letter of credit, provided by the exporter to the import the raw materials from abroad in order to produce the exportable commodity for the importer. Procedures for opening L/C: Application for opening L/C: An importer who is desirous to import goods from foreign country will apply Issuing Bank for opening a L/C. The importer will provide an application mentioning the following aspects: 0 Full particulars of applications Bank account. 0 Types of business 0 Historical background 0 Amount of required L/C limit 0 A mount of L/C margin. 0 Term of payment 0 Name of imported goods 0 Repayment schedule and source of fund Document schedule and source of fund.An importer or L/C opener has to submit the following documents 0 Application from (provided by the Bank) 0 Import registration certificate 0 Pro-forma invoice 0 Four sets of IMP from 0 Insurance cover not 0 VAT registration number 0 Tex registration number 0 Letter of credit authorization form Examination for opening L/C: Application must be carefully checked by the concerned officer considering the facts mentioning below: ? The terms and conditions of L/C applications are consistent with exchange control and import trade resolution UCPDC 500. ?Illegibility of imported goods ?The L/C must be opened in favor of importer ?That is signed by the importer and agreed with the terms and conditions. Indenting registration number ?Goods are not of Israel and vassals to be used are not of Israel ? Insurance cover note with date of shipment. ?Whether RC is up to date or not ?Whether IMP form is duly filled up and singed ?The imported goods are marketable After scrutinizing all thee legal aspects necessary entry is given to the margin register and charge, commission and margin in realized. Transmitting the L/C: The L/C is transmitted to the advising Bank for advising the L/C to he beneficiary. L/C is generally transmitted through tested Telex of Fax. Before transmission of final examination of the L/C contents is

Aspirations

For as long as I can recall I had always been afraid of aspiring for more than I had the ability to attain. This summer I met my future wife, I Just didnt know it yet. Although that Is another story that was written on its own, but once we were in love and both accepted each other, we came to find that others did not agree with our decision. We thought our bond could overcome anything Including their reproach, but, sooner than later, it began to come between us. Soon my life became a struggle to keep our love a secret from society.We didnt want different treatment, because we were both till the same people we met and the same girls everyone else knew. I was afraid of losing her to the world. I began to consider my options. Let my love go and let society separate us or follow my Intuition and Just live my life the best way I knew how, I chose to live and love even though It was hard from the start. I began to love my girlfriend fearlessly. I began to fight for us and overcame my fear of the unknown and the contempt others may harbor towards us. Even though we had challenges to overcome and people to confront we both held fast to the opportunities that lay ahead.The glares and sly whispers from others only provided a reason to prove them wrong thus I grew more determined to be happy no matter what the circumstance. She gave me the confidence to not only pursue my goals but actually fulfill my potential academically and set ideals for my life. She allowed me to be whoever I wanted to be, without letting go of how I got there. She was the kind that let me embrace those internal contradictions that made up an entire oxymoron, complex and complete human being.

Frank Lloyd Wright Essay Example | Topics and Well Written Essays - 2000 words

Frank Lloyd Wright - Essay Example At the age of eighteen, Wright got admitted into the University of Wisconsin; however he was dropped before two years.3 Then he worked for Chicagoan architect James Lyman Silsbee, where he stayed only for few months. And later as he was employed by Sullivan and Adler, he was highly influenced by Sullivan's work that is now recognized as the first modern architect of America. One the prominent theory of Sullivan, which summed up his experience and knowledge was "form follows function," which meant that buildings design determine their use.4 However, it appeared quite far-reaching then, but was Wright accepted this by his 'Master'. Wright continued for five years with Sullivan where he worked as a designer and a draftsman. He designed the Charnely House, 1891 and worked for the greatest of the Sullivan buildings Chicago. He designed his own house in Oak Park in 1889. 5Later in 1893, to start his own practice in Chicago and Oak Park, he left Sullivan and Adler. Then he went for a year t o Europe, form where upon his return he went to an inherited farmhouse in Spring Green, Wis., where he built the Taliesin, the farmhouse in 1911. Later in 1915, in Tokyo Japan he built the Imperial Hotel, thereafter until its construction in 1922 he stayed in Japan.6 Due to his creativity and a longer period for w... Architectural Work Due to his creativity and a longer period for which he lived and worked, historians have divided his work into three divisions, i.e. the early period from 1893 to 1910, later the mature period between 1910 and 1945 and lastly the later period extending from 1945 to the year 1959.78 Early Period In the initial period of his work and practice, Wright mainly designed apartment buildings, and houses in Oak Park, Ill and Chicago and near townships. Although these buildings didn't actually indicated the pattern he was to follow later, but they represented great design and detail and were quite analogous to the forms of those designed by most of the educational and experimental designers.9 However, in 1902, he built the Willits House which contributed to his career, which reflected the signs of the themes he built in his later creations. More specifically, they had exteriors which were low and had wide overhangs and hipped roofs these themes later turned out to be recognized as the Prairie Houses or Style which were one of his identities. The Martin House built in 1904 in Buffalo, N.Y., and the Heurtley House at Oak Park in 1902, were significant in this particular style.10 Moreover one of his greatest creations was the Larkin Company Administration Building in Buffalo in 1904, which was the first of his masterpieces. Not only the design and level of detail were not only significant, but the its interior entrance hall; and the use of air conditioning and plate glass, were of considerable attention then, though it's quite common in houses today, and also the, however this building was demolished in 1905. Soon afterwards he created a number of masterpieces of the Prairie Style; of

The effect of national culture on Commitment forms within Essay

The effect of national culture on Commitment forms within international joint venture - Essay Example the huge population growth which had occurred in the Arab world due to work opportunities related to oil supplies resulting in considerable international migration to countries such as Saudi Arabia and the United Arab Emirates. Such immigration is mainly from surrounding countries (Ali, 1986). Such large-scale immigration occurs because there is a shortage of national labour means there is a need to seek non-national workers who then end up making national a minority within their own country (Ali, 1986). Therefore this situation results in making the national culture a minority within its own environment and has significant implications for that culture. Ali provides data to prove this assertion. For example, the national population living in the United Arab Emirates has declined from 36 per cent in 1975 to 17 per cent in 1986 (Ali, 1986). In 1986 it was predicted that the proportion of nationals living in Saudi Arabia would fall to 9 per cent in 1990 and 2.5 per cent in 2000 (Ali, 1 986). In comparison in 1983 the Indian population living in the United Arab Emirates numbered 300,000, which was one and a half times the number of nationals living in the country (Ali, 1986). Ali went on to explore the reasons why countries such as Saudi Arabia and the United Arab Emirates depended on non-national workforces. Some factors proposed by Ali (1986) included the relatively young age of the population of the Arab Gulf States’. For example in 1975 45 per cent of the populations of these states were under 15 (Hamady, 1978; cited by Ali, 1986). Also, there is a high illiteracy rate in the Arab Gulf States’. In 1978 the rate of illiteracy in this group raged from 31 per cent in the United Arab Emirates to 57 per cent of the population of Saudi Arabia (Al-Atiah, 1983; cited by Ali, 1986). These high illiteracy rates are due to problems in the education system which does not have the capacity to provide adequate educational and technical skills (Ali, 1986). This is due to the

Management Structure Essay Example | Topics and Well Written Essays - 2500 words

Management Structure - Essay Example Within any organization, the structure and management approaches needs to change in accordance with global changes and requirements and despite several changes, since the World War, companies have failed to meet the demands of the changing world economy. According to Bartlett and Ghoshal (1995) companies seem to have become fossilized and unable to adapt to slower growth so there is much instability in the market. Cost reduction programs tend to provide only short term relief, to the markets and companies so different business and organizational strategies are required to focus on long term gains and benefits to bring about growth and organizational stability. Successful companies like GE, ABB and Toyota seem to have rejected the principles of multi divisional enterprising according to Bartlett and Ghoshal and these companies employ an emerging management model which is not a new organizational structure but brings out a set of management processes and new roles and tasks for managers at different levels. Within any organization, the changes in the managerial structure are based on the core processes of entrepreneurial or encouraging initiatives, integrative and leveraging competence, renewal as in managing, rationalization and revi talization and a new management approach (Bartlett and Ghoshal, 1995). ... l typology of multinational companies or MNCs tend to show a global, multidomestic and transnational aspects of interdependence and local responsiveness. The relationship between local and global corporate social responsibility with international organizational strategy shows that the strategic logic of Bartlett and Ghoshal could be applied to the realm of corporate social responsibility and multinational firms tend to respond to pressures for integration and responsiveness (Husted and Allen, 2006). Multinational firms tend to replicate the product market organizational strategy in the management of corporate social responsibility and these alternative approaches are also followed by MNEs. Institutional pressures, strategic analysis of social issues and stakeholders tend to guide decision making in CSR. Management of multinational enterprises is thus largely dependent on the strategies in management and corporate social responsibility, the analysis of social issues, the human resourc e management approach, and shows the implications of marketing management and public policy. Harzing (2000) used data from 166 subsidiaries of 37 MNCs in 9 countries and show how the MNCs tend to differ in aspects of interdependence and local responsiveness. International management assumes the existence of different types of MNCs that are polycentric, ethnocentric, geocentric, global as well as transnational. Multinational organizations are complex and manageable with a number of related characteristics and a typology for MNCs could help in explaining the functioning of such companies. The lack of conceptual integration and empirical corroboration in international business and management could be corrected with the reinforcing characteristics of MNCs. MNCs that bring about a balance

Book exploration of Cooper, They Came to Japan Essay

Book exploration of Cooper, They Came to Japan - Essay Example The difference between the Japanese and the European social relations emanates from the strong traditional system structure of the Japanese culture, which contrasts with the volatile nature of the European culture. Thus, where the European ancient traditions can eventually be lost, the Japanese culture and traditions are never lost, but merely runs out of fashion (Cooper, 20). However, even when they are out of fashion, they still remain an important part of the social structure of the society, thus informing the subsequent transformations in the cultures and social structures, which draw their roosts from these traditional cultural systems. The Jesuit Christians were the most informed European group that visited and settled in Japan, since they landed in Japan earlier than the other Europeans (Cooper, 11). Thus, their observation and documentation of the Japanese social structure and social relations is more informative. Drawing from this Jesuit documentation of the Japanese social relations during the period 1543-1640, we are able to understand that the social system of the Japanese culture was built around five fundamental values, which were also shared with the Chinese value system (Cooper, 55). The social structure and the social classes in the traditional Japanese culture was not built purely based on the wealth and the material possessions of an individual, but on the respect and honor that the individual has earned, even in becoming wealthy and influential. In this respect, the merchants were not esteemed or regarded as members of the upper class of the society, owing to the fact that they were considered as a set of individuals that earned their wealth through unscrupulous means (Cooper, 56). Thus, the value system of the traditional Japanese culture during this era was firmly based on positive societal outlook and fulfillment of the fundamental social values that would then deliver

Fiedler and Garcias Cognitive Resource Theory Essay

Fiedler and Garcia - Essay Example The theory predicts that uncertainty and stress are the two factors, which worry a leader. Fiedler connects this to his Least Preferred Co-worker Theory (LPC theory) where a high LPC leader will be more likely to give high scores to the people he has worked with earlier while a low LPC leader will be more inclined to assign low scores for the same. When the control of a leader over a situation and his LPC score are in tune with each other, good performance of leadership will result. Again, when a low LPC score leader is in a situation of moderate control and high LPC leaders are in situations of high control or low control, the LPC and situational control are not in line with each other. The transition from his â€Å"in match† condition to the not â€Å"in match† condition will bring about stress and worries in the leader owing to a â€Å"perceived inability to deal with situations of this nature† (Miner, 2005, p.250). When a particular circumstance causes anxiety in the leader he tries to gain confidence from his â€Å"previous successful reinforced behavioral patterns†. On one hand, the effective level finds this behavior has dealt with earlier cases of dealing with interpersonal issues while on the other hand, the cognitive level finds that such behaviors show what one learned from experience. The efficacy of the behavior of the leader is conditioned by the matching of the situations’ demands and the leader’s response to the same. Thus the model works under two assumptions. First, managers let their subordinates know their plans via directive behavior and second, leaders with greater experience and smartness have better decision-making ability than the ones who are less intelligent or experienced. Hence, one may say that when a leader is under stressful conditions, intelligence does not function efficiently or with full effect and even might have a negative impact. A leader should search for previous experience under similar situations from where he might derive some strength and decision making power. Again under a high-stress scenario, the intelligence is often damaged, but experience might help the leader respond well to the situation. Again when the task is simple then the leaders’ effectiveness does not matter because even the subordinate will be able to handle it. (Cognitive Resource Theory n.d.) Therefore when the situation is stressful a leader with greater experience will be more reliable to handle it. When a leader has the lesser level of experience he should undertake relatively stress-free assignments and the level of stress should be gradually increased with experience.            

The existence of Sylvia Plath's mental illness Research Paper

The existence of Sylvia Plath's mental illness - Research Paper Example The feminine self that Plath often explores in her poems is permeated with an autocratically free zeal which fiercely struggles for more breath under the choking grip of her male counterpart and ferociously victimizes her male foes. In an article â€Å"Mad Poets Society†, Alex Beam confirms that Plath began to develop schizophrenic syndromes and manic depression at the age of twenty. He says in this regard, â€Å"At the age of twenty, Plath experienced mild depressions while studying at Smith† (Beam 98). But a close psychoanalysis of the evidences in her poems as well as her life-events will necessarily reveal that her mental illness -schizophrenia and manic depression- can directly be connected to her experiences of her father Otto Plath and her husband Ted Hughes. In this paper I will explore the evidences of Plath’s real-life mental illness in Plath’s poems and stories. Also this paper will discuss whether Plath successfully uses her mental illness to h er advantage, or whether she dissociates from it. When Plath was eight, Otto â€Å"developed gangrene in one foot after minor trauma and was found to have late stage untreated diabetes mellitus† (Cooper 4). ... Secondly, it was the end of a male authority and restriction under which Plath’s young feminine had been panting. This â€Å"death at such a young age for Plath had some sort of a belated effect on her mental health† (Dyer 5). Referring to the complexity of Plath’s relationship with her father, Ling notes, â€Å"Plath herself faces a confusing relationship with her father, whom she lost to diabetes at quite an early age†¦.Her need to please her father remains with her even to her death, as she was unable to exorcise the hold of this strange, authoritarian figure over her† (2). Later, this emotional complexity about her father further got aggravated by Ted Hughes’s extramarital affair as well as academic failure. Consequently, her literary works show an abundance of schizophrenic symptoms. Apart from Plath’s inability to think rationally, a good deal of her poems displays the paroxysmal and spastic emotions like burning anger, hatred and wrath against her father and her husband. ‘Daddy’, ‘Lady Lazarus’, ‘Colossus’ ‘Full Fathom Five’, etc are some of these poems which displays her real-life schizophrenic symptoms. Indeed Schizophrenia is a â€Å"mental disorder that makes it  hard for the patient to a. tell the difference between what is real and not real, b. think clearly, c. have normal emotional responses, and d. act  normally in social situations† (Freudenreich 23). In ‘Daddy’, Plath’s hatred for her father obviously surpasses her rationality. She successfully portrays and then disparages a patriarchal ‘father-figure’ â€Å"in which [she] have lived like a foot / For thirty years, poor and white, / Barely daring to breathe or Achoo† (Plath, â€Å"Daddy†). It is quite normal for a feminist to take any patriarchal authority

Williams Brice Stadium Essay Example for Free

Williams Brice Stadium Essay Williams Brice Stadium appears to be just another college football stadium, but one step through those gates proves it’s a loud exciting and full of heart place. From the band playing, cheers and chants being yelled. The smell of stadium food and the garnet and black color that surrounds you will leave you with the feelings of excitement and a love of college football. Williams Brice Stadium is home to the University of South Carolina Gamecocks football team. Game days at the stadium are the most exciting, thrilling, and full of spirit. From the moment you walk through the gates the sounds of the Mighty Southeast Gamecock marching band, playing â€Å"2001† and â€Å"Step to the Rear† fill your ears. Pumping the fans up for the game that lies ahead. Throughout the game you will hear many cheers and chants being yelled; but none like the famous â€Å"Game Cocks†! The 86,000 plus fans become divided, one half yells â€Å"Game†, while the other half yells â€Å"Cocks†! Making it and Williams Brice Stadium one of the loudest college football stadiums to be. The food at the stadium is delicious typical stadium food. From popcorn, nachos, pizza, hotdogs, cotton candy, pretzels, all fill the walkway behind the seating; thus making your mouth water. All plastic containers are personalized with gamecock football history or design. Sometimes the lines can be a bit long, but so worth the wait. Everywhere you look you will see the colors garnet, black, and white. From bathroom walls, to the signs, banners, railings, letterings, and scoreboards all decked out with school colors. The 86,000 plus fans will all be wearing these beautiful, bold colors. Gamecock fans are some of the most dedicated, loyal, and full of team pride and spirit in all of college football. Visiting Williams Brice Stadium is a very loud, exciting, unique, and full of spirit experience. From the band, to the chants, to the food and color that surrounds you. It’s a one of a kind college football experience. The excitement, the noise, the food, and the Carolina Gamecock pride of football and spirit will leave you longing to return to another game experience at Williams Brice.

Psychodynamic Theory and Trait Theory of Personality

Psychodynamic Theory and Trait Theory of Personality The purpose of this paper is to understand the behaviour exhibited in a specific case study using Freud’s psychodynamic theory and Allport’s trait theory of personality. Personality is defined as the thoughts, feelings and behaviour of an individual that perseveres over time and different situations (Perelberg Ebooks, 2008). Following a summary of the case study the paper will provide a brief overview of each theory and go into detail about how each theory explains the behaviour and personality of Judy, a mother who is the focus of the case study. Judy loves cleaning her house. She desires receiving compliments regarding her cleanliness. Judy spends every weekend cleaning. Whenever guests were invited over Judy would spend a lot of time and effort making sure her house was spotless. She would instruct the kids on acceptable conversation and organise frequent family meetings. Judy did not understand why other family members wouldn’t take cleaning seriously. A neighbour once accidently left grass clippings on her front lawn which resulted in Judy ignoring that neighbour for two years. Even though the family were not in any financial troubles Judy would force everyone to take extreme measures to save money. Judy would get mad when her friends didn’t invite her to dinner parties. She frequently criticises her friends and does not understand why someone would not want to be her friend. The first theory that will be discussed is Freud’s psychodynamic theory. Psychodynamic theory explains personality by focusing on the conscious and unconscious motivation behind human behaviour, feeling and emotion (Shelder, 2010). Freud stressed that the mind is not a single construct, but is in fact made up of separate components. These mental processes are fuelled by sexual and aggressive urges. These urges stem from instinctual and biological drives (Perelberg Ebooks, 2008). Some of these urges may be unacceptable on a conscious level and are repressed into the unconscious where they build up over time until they influence thoughts, feelings or behaviour. The mind is divided into three components that house these urges. The id is an unconscious component that seeks pleasure. The superego is constructed from internalised rules and expectations. The ego mediates between the unconscious urges of the id and the firm rules of the superego. The interactions between these components determine human personality and behaviour. This model on human behaviour is called Freud’s Structural Model (Freud, 1961). Freud proposed that adult human behaviour is influenced by childhood experiences (Freud Hall, 2014). Specifically he proposed a model where childhood sexual development would influence adulthood personality and behaviour. Inadequate development in a psychosexual stage would result in a fixation that would negatively influence behaviour and personality later on in life. In order to deal with these issues the mind can employ a range of defence mechanisms. Defence mechanisms are unconscious processes that distort reality to reduce unpleasant feelings and thoughts such as anxiety (Freud, 1992). These processes arise from the ego. Anxiety and other unpleasant feelings are a result of the id or superego becoming too demanding and causing distress. The second perspective that will be used is Allport’s Trait Theory. Allport’s theory suggests that human behaviour and personality is influenced by emotional, cognitive and behavioural tendencies called traits (Allport Allport, 1921). A trait can either be a predisposition to behave in a certain manner or it could be a personality characteristic. These traits can be used to obtain an understanding of a subject’s overall personality. Allport organised these traits into a hierarchical structure with three levels. Cardinal traits lie at the top of the hierarchy and are traits that govern an individual’s whole behaviour or personality (Allport, 1966). Most people don’t have cardinal traits but if they do they generally only have a singular trait that dictates their behaviour and personality. The next level of traits is called central traits. These consist of general characteristics of personality present in most individuals. These traits affect behaviour the most (Allport, 1937b). The last level of traits is secondary traits which are characteristics that are only apparent when in contact with specific external stimuli. These secondary traits can conflict with central traits when activated and account for uncommon displays of behaviour which may contradict overall personality. A major theme of Allport’s theory is that of functional autonomy, which states that adult behaviour and personality is not related to earlier experiences but behaviour first started as a drive for a separate motive which over time the desire for the drive outgrows the motive resulting in the drive being separate, or autonomous from the original drive (Allport, 1937a). Since the original motive for the behaviour is lost it is difficult to find the source or reasoning behind behavioural traits. Freud will be the first theorist that will be used to discuss Judy’s behaviours and personality. Freud explains Judy’s excessive cleanliness due to an inadequate development of the anal stage of psychosexual development in childhood (Freud Hall, 2014). In the anal stage, which lasts from 18 months to three years of age the child is learning to become toilet trained which is the first step in autonomy from parents. Properly developing this skill leads to a sense of accomplishment and independence. The outcome of this stage is dependent on the methods employed by the parents to teach bowl control (Freud Hall, 2014). If parents are too strict then the child may develop an anal-retentive personality which results in the child being orderly, rigid and obsessive. In this case study Judy is showing signs of an anal-retentive personality by her obsession on having a clean house and her strict rules on where items go in the kitchen. This behaviour is maintained by her superego which dominates her thoughts, feelings and behaviour (Freud, 1961). Judy’s strict rules on cleanliness and order may be the reason why she is so controlling in the family’s financial situation, due to her strict nature on cleanliness carrying over to other aspects of her life such as finance. Judy maintains order by frequently organising family meetings which are an outlet for her unconscious desires of order to manifest. Her feelings regarding her relationships with other people are repressed into her unconscious where they build up and come out via criticism to Sarah, her daughter or to the recipients face. Judy seeks approval from her guests. This approval is a major part of her id. Judy pursues approval for her id by using strict rules from her superego to gather compliments regarding her home. Judy’s quest for approval results in anxiety from keeping a clean house and frustration from guests not inviting her to dinner. Anxiety is a threat to the ego from impulses generated by the id (Freud, 1992). She uses defence mechanisms to reduce anxiety. Defence mechanisms are an unconscious process that distorts reality so that the threat impulses to the ego do not become conscious (Freud, 1992). Whenever someone does not want her friendship Judy uses denial to ignore any criticisms she may have said which resulted in her loss of friendship. She may repress any memories where she acted in a way that is not friendly. To gain more information a psychodynamic psychologist would use performance based measures such as a projective test or free association (MacCann, Matthews, Zeidner, Roberts, 2003). Performance based measures reveal underlying attitudes and implicit motivations due to their indirect nature. These tests do not provide information about what the subject is thinking or feeling. A specific measure that would be used to gather more information is free association (Oxburgh Dando, 2011). Free association is a psychoanalytic technique where the individual is allowed to talk about whatever thoughts come to mind. This is an indirect measure that can provide information on an individual’s thoughts and feelings. The therapist would listen and take notes to try and find any underlying unconscious motivation to gain a better understanding of the individual’s personality and behaviour. This method can reveal dispositions about personality and behaviour that an individual is not consciously aware of possessing. The second theorist that will be used is Allport. Judy is obsessive to the point that it is classed as a cardinal trait. Her obsessive trait affects nearly every other aspect of her personality and behaviour. Her main high central traits are authoritative, economical, cleanly and sociable, which are all affected by her cardinal trait. These trait names are from Allport’s list of trait names that best define personality (Allport Odbert, 1936). Judy’s authoritative trait is evident in the way she informs her children on proper conversation topics and when organising family meetings to discuss the proper procedure and location of items. Her economical trait is shown through her strict rules governing her family’s finances. This is a clear example of how her cardinal trait has affected a central trait to the extreme. The trait of cleanliness is clearly shown to be an important trait of her personality as evident by her passionate cleaning ritual. Her sociability has a secondary trait where she gets angry when someone disrupts her clean home, shown by the neighbour who she ignored for two years. Judy also gets frustrated when other family members don’t see the value in keeping the home organised and clean, further supporting her secondary trait. One method to gain more information on Judy’s personality and behaviour can be to administer a self-report inventory such as the California Personality Inventory (CPI). The CPI is an inventory that measures personality traits (Groth-Marnat Mullard, 2010). The questions on the CPI relate to normal behaviours, feelings and attitudes regarding family and social matters. Self-report inventories directly measure how a person thinks and feels (MacCann, et al., 2003). Due to this explicit method the inventory is a good way to identify personality states and other behavioural traits that they can recognize about themselves. The two different perspectives share many similarities in their assessment of Judy’s behaviour and personality. Both perspectives conclude that her obsessive reliance on strict rules is a major factor in her philosophy on financial matters. Both perspectives believe that a certain characteristic (obsessiveness/cleanliness), dominates her whole personality and its effect carries over into other aspects of her personality and behaviour. Lastly both perspectives agree that her frustration at not being invited out to dinner parties by her friends is social in nature. Although the two perspectives seem to come to similar conclusions regarding Judy’s behaviour there are a couple of major differences. Freud’s perspective believes that her obsession towards cleanliness is due to a childhood experience concerning toilet training while Allport believes that cardinal traits such as this are developed later on in life and due to functional autonomy it is not possible to find out the cause of this trait. Freud’s theory has many positive benefits. It is a theory that is based on experimental psychology and it explains characteristics of personality (Freud Hall, 2014). Unfortunately the theory has an overemphasis on the unconsciousness and relies too heavily on childhood experiences (Perelberg Ebooks, 2008). The theory is mainly backed by data gathered via case studies and clinical observations which are not reliable as data gathered from a wide range of sources. Allport’s theory is based on objective and statistical data (Allport, 1966). There are no biases compared to Freud whose relationship with his mother is said to have greatly influenced his work (Allport Allport, 1921). The theory can account for any behavioural or personality aspect with traits. The theory itself is easy to understand and can be used with many different assessment measures. There are a few negative connotations with Allport’s perspective. The theory is a poor predictor of future personality and behaviour since the theory does not explain how traits are maintained (Bertocci, 1940). The theory does not discuss how the traits themselves have developed nor does the theory explain how personality works due to functional autonomy. There is also some discrepancy on the consistency of traits although that is partially explained via secondary traits. Allport’s theory does not take into account ecological, social or situational factors that may affect behaviour or personality. The definition of trait is broad and includes attitudes, habit and other tendencies such as need under one classification which may decrease the validity of traits. Freud’s perspective states that Judy’s major behavioural and personality attributes are due to an inadequate development in her childhood anal psychosexual development stage which has caused Judy to exhibit an anal-retentive personality that affects her behaviour negatively. Her behaviour results in the production of anxiety and Judy uses ego defence mechanisms to reduce anxiety. More information about Judy’s personality and behaviour can be gathered via free association. Allport’s perspective suggests that Judy’s behaviour and personality is due to a cardinal trait of obsessiveness which affects every other aspect of her personality from keeping her house clean and organised to managing her family’s finances. More information about Judy’s personality can be gained by conducting a self-report inventory on personality. Both perspectives focused on different aspects of Judy’s personality. Freud’s theory focused on the unconscious motivation behind Judy’s actions while Allport looked at the actions in detail. They both came to similar conclusions in that Judy is obsessive and that this is negatively affecting her relationships. References Allport, F. H., Allport, G. W. (1921). Personality Traits: Their Classification and Measurement. The Journal of Abnormal Psychology and Social Psychology, 16(1), 6-40. Allport, G. W. (1937a). The Functional Autonomy of Motives. The American Journal of Psychology, 50(1/4), 141-156. Allport, G. W. (1937b). Personality: A psychological interpretation. Allport, G. W. (1966). Traits revisited. American psychologist, 21(1), 1. Allport, G. W., Odbert, H. S. (1936). Trait-names: A psycho-lexical study. Psychological Monographs, 47(1), i-171. Bertocci, P. A. (1940). A critique of G. W. Allports theory of motivation. Psychological Review, 47(6), 501-532. Freud, A. (1992). The Ego and the Mechanisms of Defence: Karnac Books. Freud, S. (1961). THE EGO AND THE ID. The American Journal of the Medical Sciences, 5(1), 656. doi:10.1097/00000441-196111000-00027 Freud, S., Hall, G. S. (2014). A General Introduction to Psychoanalysis. Auckland: The Floating Press. Groth-Marnat, G., Mullard, M. J. (2010). California Psychological Inventory. In The Corsini Encyclopedia of Psychology: John Wiley Sons, Inc. MacCann, C., Matthews, G., Zeidner, M., Roberts, R. D. (2003). PSYCHOLOGICAL ASSESSMENT OF EMOTIONAL INTELLIGENCE: A REVIEW OF SELF-REPORT AND PERFORMANCE-BASED TESTING. [Article]. International Journal of Organizational Analysis (2003), 11(3), 247-274. Oxburgh, G. E., Dando, C. J. (2011). Psychology and interviewing: what direction now in our quest for reliable information? The British Journal of Forensic Practice, 13(2), 135-144. doi:http://dx.doi.org/10.1108/14636641111134378 Perelberg, R. J., Ebooks, C. (2008). Freud: A Modern Reader. Hoboken: Wiley [Imprint]. Shelder, J. (2010). The Efficacy of Psychodynamic Psychotherapy. Psychotherapy in Australia, 16(3), 38-51.