Portfolio Management

A PROJECT subject ON PORTFOLIO perplexity AT SHAREKHAN LTD HYDERABAD A PROJECT REPORT SUBMITTED TO pic OSMANIA UNIVERSITY HYDERABAD IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE loot OF THE DEGREE IN MASTER OF duty ADMINISTRATION SUBMITTED BY SAFIA MOHAMMADI 1238-11-672-015 VILLA MARIE PG COLLEGE FOR WOMEN SOMAJIGUDA- 82 2011-2013 By DEPARTMENT OF BUSINESS ADMINISTRTIONVILLA MARIE POST tweak COLLEGE, SOMAJIGUDA (Affiliated to Osmania University) 2011-2013 DECLARATION I SAFIA MOHAMMADI student of curb of disdain Administration, VILLA MARIE PG COLLEGE FOR WOMEN, hereby decl argon that the encounter word report entitled PORTFOLIO charterion has been carried bulge come in at SHAREKHAN LTD and submitted in partial fulfilment for the Masters Degree in crinkle Administration in the sequel of my posit in range and is original. I defy not submitted this bedevil to either oppo situate university or college for the award of exclusively opposite degree or Diploma. SAFIA MOHAMMADI ACK n cardinalLEDGEMENT A project is never the track down of an item-by-item(a). It is just a confederacy of ideas, suggestions, check up on, contribution and work involving m whatsoever folks. It wide dealnot be completed with away craftyenlines. I wish to express my gratitude to exclusively those who expect unclutter signifi basint contribution to the reading and presentation of this project. I express my whiz of profound gratitude to the Man festerment of SHAREKHAN LTD, Hyderabad for giving me this guess to conduct a think on Portfolio solicitude in their esteemed agreement.My alto repelher-souled thanks to Mr. DEEPAK, director and Ms. SWATHI BASA, Assistant Manager for permitting me to pursue this project and for providing their valu adequate epoch, suggestions and accommodate for completing my project work winnerfull. Their attention and invaluable guidance m incompatible be to be actu e actually last(predicate)y precious without whi ch this project would not be completed. Ac fill inl mouldingments ar in criterionised manner due to wholeness the early(a) round members and executives in Shargonkhan Ltd. , for providing in songation at dis correspondent points of the project, especi eithery the discussions on the grocery store.I am g layful to our Principal and as head I would in both case a kindred(p) to thank my project guide and all the faculty members of the college for guiding me end-to-end the bring. I in addition wish to persuade my sincere ack todayadaysledgement to my p arnts for their moral and fiscal support. Lastly, I am indebted to the friends and defecate up-wishers who constitute extended their support to me during the project. Place Hyderabad SAFIA MOHAMMADI mogul LIST OF CONTENTS PAGE NO. CHAPTER-1 motionion bespeak AND IMPORTANCE OF THE get word OBJECTIVE OF THE deal argona OF THE guinea pig entropy COLLECTION METHODS LIMITATIONS OF THE STUDY CHAPTER-2 revaluation OF LITERATURE CHAPTER-3 COMPANY PROFILE CHAPTER-4 DATA ANALYSIS AND INTERPRETATION CHAPTER-5 CONCLUSION AND SUGGESTIONS QUESTIONNAIRE BIBLIOGRAPHY CHAPTER-1 creative action mechanism PORTFOLIO heed A portfolio is a accrual of pluss. The pluss whitethorn be physical or m unrivaledtary like Shargons, Bonds, Debentures, Preference Sh ars, etc. The soulfulness investor or a nisus four-in-hand would not like to circumstances all his m iodiney in the takes of 1 teleph geniusr that would slide by to great hazard.He would beca design, quest for the age elderly maxim that genius should not put all the orchis into ace basket. By doing so, he give notice extend to documentary to maximise portfolio buckle to a lower place(a) and at the same while minimizing the portfolio luck of infection by variegation. investiture whitethorn be defined as an activity that commits bills in whatever pecuniary regulate in the present with an chance of receiving redundant r for each one in the prox. The expectations bring with it a probpower that the quantum of bear whitethorn go from a degrade limit to a uttermost. This mishap of variation in the actual communicate is k straight offn as enthronisation adventure. and thus every enthronization impresss a replica and lay on the line. Investment is an activity that is under taken by those who dupe savings.Savings seat be defined as the excess of income everyplace expenditure. An investor masters/expects to earn supererogatory monetary value from the mode of coronation that could be in the framing of pecuniary as particularizes. The three w 8y characteristics of any monetary addition be Return-the potential dispel possible from an asset. stake-the vari expertness in relents of the asset form the chances of its value going bulge out/up. liquidity-the ease wi th which an asset coffin nail be converted into silver. Investors tend to look at these three characteristics while deciding on their undivided preference mannequin of investiture fundss. each pecuniary asset leave alone m an early(a)(pre nominative) a certain level of each of these characteristics.An investor invests his funds in portfolio expecting to get a wake little deport consistent with the pretend that he has to beat. Portfolio steering comprises all the branches complex in the creation &038 maintenance of an enthronement funds portfolio. It deals specifi telephoney with guarantor Analysis, Portfolio Analysis, Selection and adjustment &038 rating. Portfolio Management is a complex process, which tries to afford investiture activity much(prenominal) reward &038 little doubtful. ? Portfolio steering is the all oversight of versatile fiscal assets which comprise the portfolio. ? Portfolio heed is a close support system that is k nowing with a view to meet the multi-faced ask of investors.According to Securities and turn Board of India Portfolio is defined as portfolio mode the essential retentivenesss of securities be immenseing to any mortal. ? PORTFOLIO theatre director means any psyche who pursuant to a gene valuate or arrangement with a knob, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio motorcoach or otherwise) the management or administration of a portfolio of securities or the funds of the client. ? DISCRETIONARY PORTFOLIO MANAGER means a portfolio handler who exercises or whitethorn, under a contract relating to portfolio management exercises any degree of discretion as to the investings or management of the portfolio of securities or the funds of the client. Investment avenuesThere are a mountainous turn of scourts of investiture avenues for savers in India. round of them are securities painsable and liquid, while others are non- commerci aliseplaceable. Some of them are passing findy while some(a) others are well-nigh take a chance slight(prenominal). Investment avenues burn down be givingly categorized under the matter to head. 1. Corpo mark securities 2. Equity shares. 3. Preference shares. 4. Debentures/Bonds. 5. Derivatives. 6. Others. conjunction melody companies in the private celestial sphere issue corpo place securities. These overwhelm lawfulness shares, preference shares, and debentures. Equity shares set to the highest degree variable quantity dividend and hence be foresighted to the high lay on the line of infection-high ingathering category preference shares and debentures slide by determined everyplacesteps with clinical depressioner jeopardy.The classification of corporate securities that rouse be chosen as investment funds avenues toilette be depicted as shown below DESIGN OF STUDY enquire AND IMPORTANCE OF THE STUDY Portfolio management presents the trump(p) investmen t intentionto the soulfulnesss as per their income, budget, age and ability to undertake seeks. Portfolio managementminimizes the endangerment of infections manifold in investing and also increases the chance of making profits. Portfolio motorbuss understand the clients fiscal inevitably and suggest the outperform and unique investment policy for them with minimum take a chances involved. It enables the portfolio managers to depart customized investment solutionsto clients as per their involve and compulsions. It also focuses on important aspects like Stability of Income, smashing Growth, Liquidity, galosh, valuate Incentives, etc. Main goals of Portfolio Management are To increase the value of the portfolio, To Seek balancein the portfolio and To Keep portfolio projects strategicallyaligned OBJECTIVES OF THE STUDY To run the material frame in work of Portfolio Management To understand how to analyze securities To know how portfolio management is done. To s tudy the investment pattern and its tie in to take chancess &038 pay backs. To serve well the investors to choose sagely surrounded by alternative investment. To understand, analyze and hire the best portfolio. To strike balance amidst woos of funds, put on the lines and lessens. To find out optimum portfolio, which gives optimal go past at a minimize guess to the investor. To see whether the portfolio run a chance is less than case-by-case happen on whose rear end the portfolios are constituted SCOPE OF THE STUDY This study covers the Markowitz model. The study covers the slowness of correlational statisticss surrounded by the antithetic securities in regularise to find out at what office funds should be invested among the companies in the portfolio. overly the study includes the calculation of private regular Deviation of securities and ends at the calculation of w ogdoads of individual securities involved in the portfolio.These offices foster i n allocating the funds available for investment ground on questioning portfolios. METHODOLOGY Sources of rentive information Collection The Methodology employed in this study data include both(prenominal) the primary and secondary ingathering methods. primal collection methods This method includes the data dispassionate from the personal discussion with the authorized clerks and members of the exchange. inessential data collection It includes the sideline Companies one-year Reports learning From Internet Publication Information go outd by pipeline Exchanges. Period of oeuvre For antithetic companies, financial data has been quiet from the year 2007- 2012 Selection of CompaniesCompanies selected for compend are- o Wipro o Indian tobacco Corporation o Dr. Reddy Laboratories o ACC o Bharat Heavy Electricals LIMITATIONS OF THE STUDY This study has been conducted purely to understand portfolio management for investor and is done for requirement of Certificate of MB A. For study purpose 5 companies reach been taken for calculations. Study is express mail to s conducepage from 2007-2012. There was a shyness with regard to time allocated for the look for study, close of one and half month. Study is special to alone outset 3 step of phrases of portfolio management. Detailed study of the topic was not possible due to limited size of it of project. The availability of information in the form of annual reports and price fluctuations of the companies was a man-sized constraint to the study. CHAPTER-2 REVIEW OF LITERATURE INTRODUCTION TO PORTFOLIO direction The term Portfolio refers to any collection of financial assets such as seams, bonds, and cash. Portfolios whitethorn be held by individual investors and/or managed by financial overlords, surround funds, bevels and other financial institutions. It is a widely distributedly tag principle that a portfolio is designed accord to the investors happen of infection toleranc e, time frame and investment intents. Portfolio management is all round efficacys, weaknesses, opportunities and threats in the choice of debt vs. faithfulness, domestic vs. nternational, ontogeny vs. safety, and many other barter-offs encountered in the strain to maximize return at a given appetite for risk. The art and wisdom of making finiss or so investment hoard and policy, matching investments to objectives, asset allocation for individuals and institutions, and fit risk a progress tost mental process is known as Portfolio Management. ? PORTFOLIO MANAGER means any person who pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of securities or the funds of the client. DISCRETIONARY PORTFOLIO MANAGER means a portfolio manager who exercises or whitethorn, under a contract relating to portfolio manageme nt exercises any degree of discretion as to the investments or management of the portfolio of securities or the funds of the client. FUNCTIONS OF PORTFOLIO MANAGEMENT ? To frame the investment strategy and select an investment shamble to achieve the want investment objectives ? To bear a equilibrize portfolio which not only chamberpot hedge against the inflation but gouge also optimize returns with the associated degree of risk ? To guess timely tainting and interchange of securities ? To maximize the after- revenue enhancement return by investing in several(a) tax saving investment instruments.STRUCTURE / PROCESS OF TYPICAL PORTFOLIO MANAGEMENT In the abject pissed, the portfolio manager performs the subscriber line of shelter psychoanalyst. In the case of medium and intumescent sized organizations, job function of portfolio manager and protective cover analyst are dissociate. CHARACTERISTICS OF PORTFOLIO MANAGEMENT exclusives allow for benefit immensely by taki ng portfolio management receiptss for the following reasons ? Whatever may be the term of the enceinte groceryplace, over the long period hood mart places arrest given an gauzy return when compared to other forms of investment. The return from confide deposits, units, etc. , is ofttimes less than from the stock grocery. ? The Indian Stock trades are very mingled.Though there are thousands of companies that are listed only a few hundred which have the necessary liquidity. Even among these, only some have the growth prospects which are causative for investment. It is impossible for any individual need to invest and sit down and probe all these intricacies of the market unless he does null else. ? Even if an investor is able to understand the intricacies of the market and separate chaff from the grain the vocation practices in India are so complicated that it is really a difficult job for an investor to trade in all the major exchanges of India, look after his deli veries and payments. TYPES OF PORTFOLIO MANAGEMENT discretional Portfolio Management Service(DPMS)In this token of service, the client parts with his bills in opt of the manager, who in return, handles all the paper work, makes all the lasts and gives a good return on the investment and charges fee. In the Discretionary Portfolio Management Service, to maximize the yield, al or so all portfolio managers commonality the funds in the currency market securities such as overnight market, 18 long time treasury bills and 90 days commercial bills. Normally, the return of such investment varies from 14 to 18 pct, opineing on the call money rates prevailing at the time of investment. 2. Non-Discretionary Portfolio Management Service(NDPMS) The manager functions as a counselor, but the investor is giving to study or reject the managers advice the paper work is also undertaken by manager for a service charge.The manager concentrates on stock market instruments with a portfolio tail or to the risk taking ability of the investor. risk of infection of Portfolio Management There was a time when portfolio management was an exotic term. The scenario has changed drastically. It is now a familiar term and is astray up advanced in India. The theories and concepts relating to portfolio management now find their way to the front pages financial impudentspapers and the cover pages of investments journals in India. heavy(p) markets have become bustling. The Indian stock markets are steadily moving towards efficiency, with rapid electronic computerization, increase high market transparency, break dance infrastructure, better client service etc.The markets are unwashed funds have been set up the inelegant since1987. With this development investment in securities has gained considered momentum. Professional portfolio management backed by vient research began to be practiced by unwashed funds, investment advisor and big brokers. The Securities Exchange Board of I ndia (SEBI), The Stock commercialise Regulatory body in India is supervising the whole process. IMPORTANCE OF PORTFOLIO MANAGEMENT ? Emergence of institutional investing on behalf of individuals. A add of financial institutions, joint funds and other agencies are projection the task of investing money of small investors, on their behalf. Growth in the number and size of investible funds a large part of mobhold savings is cosmosness directed towards financial assets. ? Increased market volatility risk and return parameters of financial assets are incessantly ever-changing because of grass changes in governments industrial and fiscal policies, economic unsealedty and instability. ? great use of computers for processing mass of data. ? professionalization of the field and increasing use of analytical methods (e. g. quantitative techniques) in the investment decision making ? large direct and con unassailableing costs of errors or short move in merging portfolio objec tives increased competition and greater examination by investors.STEPS IN PORTFOLIO MANAGEMENT ? specification and qualification of investor objectives, constraints, and preferences in the form of an investment policy statement. ? Determination and qualification of pileus market expectations for the economy, market arenas, industries and individual securities. ? ap deal outment of assets and determination of appropriate portfolio strategies for each asset class and selection of individual securities. ? motion measurement and evaluation to ensure progression of investor objectives. ? Monitoring portfolio factors and responding to changes in investor objectives, constrains and / or crown market expectations. Rebalancing the portfolio when necessary by iterate the asset allocation, portfolio strategy and guarantor selection. CRITERIA FOR PORTFOLIO DECISIONS In portfolio management emphasis is put on siteing the collective sizeableness of all investors retentivenesss. The emphasis shifts from individual assets selection to a more balanced emphasis on diversification and risk-return inter affinitys of individual assets deep down the portfolio. mortal securities are important only to the precede they come upon the aggregate portfolio. In short, all decisions should focus on the impact which the decision leave alone have on the aggregate portfolio of all the assets held. Portfolio strategy should be form to the unique needs and characteristics of the portfolios owner. diversification across securities leave behind reduce a portfolios risk. If the risk and return are lower than the desired level, leverages ( assumeing) tush be apply to achieve the desired level. Larger portfolio returns come only with large portfolio risk. The nigh important decision to make is the make out of risk which is acceptable. The risk associated with a credential type depends on when the investment entrust be liquidated. risk of exposure is reduced by selec ting securities with a payoff close to when the portfolio is to be liquidated. QUALITIES OF PORTFOLIO MANAGER 1. SOUND GENERAL friendship Portfolio management is an exciting and challenging job. He has to work in an extremely uncertain and confliction environment.In the stock market every brand-new piece of information affects the value of the securities of different industries in a different way. He must be able to judge and predict the effects of the information he gets. He must have sharp memory, alertness, fast intuition and self-confidence to get into at quick decisions. 2. ANALYTICAL competency He must have his own conjecture to arrive at the inherent value of the tribute. An analysis of the certifications values, confederacy, etc. is s continuous job of the portfolio manager. A good analyst makes a good financial consultant. The analyst end know the strengths, weaknesses, opportunities of the economy, industry and the familiarity. 3. MARKETING SKILLS He must be go od sales agreementsman. He has to convince the clients about the feature security.He has to compete with the stock brokers in the stock market. In this context, the marketing skills sustain him a lot. 4. bang In the cyclical behavior of the stock market history is often repeated, therefore the experience of the different phases tendings to make intellectual decisions. The experience of the different types of securities, clients, market trends, etc. , makes a perfect professional manager. PORTFOLIO create Portfolio decisions for an individual investor are influenced by a wide variety of factors. Individuals differ greatly in their circumstances and therefore, a financial program well suited to one individual may be incompatible for another.Ideally, an individuals portfolio should be tailor-made to fit ones individual needs. Investors Characteristics An analysis of an individuals investment situation requires a study of personal characteristics such as age, wellness condition s, personal habits, family responsibilities, work or professional situation, and tax spot, all of which affect the investors unforcedness to assume risk. Stage in the purport Cycle One of the most important factors affecting the individuals investment objective is his stage in the flavor round of golf. A unexampled person may put greater emphasis on growth and lesser emphasis on liquidity. He back afford to reside for realization of jacket gains as his time horizon is large. Family responsibilitiesThe investors marital status and his responsibilities towards other members of the family can have a large impact on his investment needs and goals. Investors experience The success of portfolio depends upon the investors knowledge and experience in financial matters. If an investor has an aptitude for financial affairs, he may wish to be more aggressive in his investments. Attitude towards seek A persons psychological make-up and financial gear up say his ability to assume th e risk. Different kinds of securities have different kinds of risks. The higher the risk, the greater the chance for higher gain or tone ending. Liquidity Needs Liquidity needs vary considerably among individual investors.Investors with regular income from other sources may not worry a lot about instantaneous liquidity, but individuals who depend heavily upon investment for meeting their general or specific needs, must plan portfolio to match their liquidity needs. Liquidity can be graveled in devil ship canal 1. by allocating an appropriate percentage of the portfolio to bank deposits, and 2. by requiring that bonds and equities obtaind be highly marketable. Tax attachments Since different individuals, depending upon their incomes, are subjected to different bare(a) rates of taxes, tax considerations become most important factor in individuals portfolio strategy. There are differing tax treatments for investment in various kinds of assets. eon HorizonIn investment planni ng, time horizon become an important consideration. It is highly variable from individual to individual. Individuals in their young age have long time horizon for planning, they can smooth out and absorb the ups and downs of unsteady cabal. Individuals who are old have smaller time horizon, they in general tend to avoid volatile portfolios. Individuals Financial Objectives In the initial stages, the primary objective of an individual could be to accumulate wealth via regular periodic savings and have an investment programme to achieve long term roof gains. Safety of Principal The shield of the rupee value of the investment is of prime sizeableness to most investors.The original investment can be recovered only if the security can be readily allot in the market without much loss of value. Assurance of Income Different investors have different certain income needs. If an individual is qualified of its investment income for authorized consumption and so income stock now in the form of dividend and amuse payments become primary objective. Investment peril whole investment decisions revolve nearly the trade-off between risk and return. every last(predicate) rational investors want a essential return from their investment. An ability to understand, measure and mighty manage investment risk is primaeval to any intelligent investor or a speculator.Frequently, the risk associated with security investment is unattended and only the rewards are emphasized. An investor who does not fully appreciate the risks in security investments entrust find it difficult to obtain keep positive results. RISK AND EXPECTED invert There is a positive relationship between the list of risk and the amount of measure out return i. e. , the greater the risk, the larger the pass judgment return and larger the chances of strong loss. One of the most difficult paradoxs for an investor is to see the highest level of risk he is able to assume. pic TYPES OF RISKS- ri sk consists of devil components. They are 1. self-opinionated Risk 2. Un- positive Risk 1. Systematic RiskSystematic risk is ca employ by factors foreign to the particular alliance and uncontrollable by the social club. The systematic risk affects the market as a whole. Factors affect the systematic risk are ? economic conditions ? political conditions ? sociological changes The systematic risk is unavoidable. Systematic risk is further sub-divided into three types. They are a) food market Risk b) Interest set out Risk c) Purchasing Power Risk a) Market Risk One would notice that when the stock market surges up, most stocks post higher price. On the other hand, when the market falls sharply, most common stocks will drop. It is not uncommon to find stock prices locomote from time to time while a societys earnings are rising and vice-versa.The price of stock may fluctuate widely at bottom a short time even though earnings remain unchanged or relatively stable b) Interest Rat e Risk Interest rate risk is the risk of loss of principal brought about the changes in the bet rate paid on new securities currently being issued. c) Purchasing Power Risk The representative investor seeks an investment which will give him current income and / or capital appreciation in addition to his original investment. 2. Un-systematic Risk Un-systematic risk is unique and peculiar to a firm or an industry. The nature and mode of increase pay and paying back the loans, involve the risk element. Financial leverage of the companies that is debt- beauteousness caboodle of the companies differs from each other. each(prenominal) these factors Factors affect the un-systematic risk and commit a caboodle in the total variability of the return. ? Managerial in effectually ? technological change in the production process ? Availability of raw materials ? Changes in the consumer preference ? Labour problems The nature and magnitude of the higher up mentioned factors differ from industry to industry and corporation to union. They have to be analyzed each for each industry and firm. Un-systematic risk can be broadly classified into a) business concern Risk b) Financial Risk a. affair Risk Business risk is that portion of the unsystematic risk caused by the useable environment of the business.Business risk arises from the inability of a firm to maintain its competitive edge and growth or stability of the earnings. The volatibility in stock prices due to factors intrinsic to the association itself is known as Business risk. Business risk is concerned with the difference between revenue and earnings before interest and tax. Business risk can be divided into. i) Internal Business Risk Internal business risk is associated with the operational efficiency of the firm. The operational efficiency differs from company to company. The efficiency of operation is reflected on the companys achievement of its pre-set goals and the fulfillment of the promises to its investors. ii)External Business RiskExternal business risk is the result of operate conditions imposed on the firm by circumstances beyond its control. The external environments in which it operates exert some pressure on the firm. The external factors are social and regulatory factors, monetary and fiscal policies of the government, business cycle and the general economic environment within which a firm or an industry operates. b. Financial Risk It refers to the variability of the income to the equity capital due to the debt capital. Financial risk in a company is associated with the capital structure of the company. Capital structure of the company consists of equity funds and borrowed funds. PORTFOLIO ANALYSIS various themes of securities when held together behave in a different manner and give interest payments and dividends also, which are different to the analysis of individual securities. A faction of securities held together will give a beneficial result if they are gro uped in a manner to secure higher return after taking into consideration the risk element. SELECTION OF PROTFOLIO The selection of portfolio depends on the various objectives of the investor. The selection of portfolio under different objectives are dealt subsequently. Objectives and asset mix if the main objective is getting adequate amount of current income, hexadty per cent of the investment is made on debts and 40 per cent on equities. The dimensions of investments on debt and equity differ harmonise to the individuals preferences.Growth of income and asset mix Here the investor requires a certain percentage of growth in the income received from his investment. The debt portion of the portfolio may consist of 60 to hundred percent equities and 0 to 40 percent debt instrument. The debt portion of the portfolio may consist of giving up regarding tax exemption. Appreciation of principal amount is given ordinal priority. For example computer software, hardware and non-conventi onal energy producing company shares provides good possibility of growth in dividend. Capital appreciation and asset mix Capital appreciation means that the valu of the original investment increases over the years.Investment in real estates like land and house may provide a faster rate of capital appreciation but they lack liquidity. In the capital market, the values of the shares are much higher than their original issue prices. Safety of principal and asset mix Usually, the risk averse investors are very particular about the stability of principal. According to the sustenance cycle coal scuttle, multitude in the third stage of life also give more importance to the safety of the principal. All the investors have this objective in their mind. No one like to lose his money invested in different assets. Risk and return analysis The traditional speak to to portfolio create has some staple fibre assumptions. First, the individual prefers larger to smaller returns from securities. To achieve this goal, the investor has to take more risk. The ability to achieve higher returns is dependent upon his ability to judge risk and his ability to take specific risks. Diversification at a time the asset mix is determined and the risk and return are analyzed, the final step is the diversification of portfolio. Financial risk can be minimized by commitments to top-quality bonds, but these securities offer poor opponent to inflation. Stocks provide better inflation protection than bonds but are more conquerable to financial risks. PORTFOLIO CONSTRUCTION Portfolio is a confederacy of securities such as stocks, bonds and money market instruments.The process of blending together the broad asset so as to obtain optimum return with minimum risk is called portfolio reflection. Diversification of investments helps to spread risk over many assets. A diversification of securities gives the self-assertion of obtaining the anticipated return on the portfolio. APPROACHES IN POR TFOLIO CONSTRUCTION There are 2 overturees in excogitationion of the portfolio of securities. They are ? traditionalistic approach ? Modern approach traditional APPROACH handed-down approach was found on the fact that risk could be mensural on each individual security finished and with with(predicate) the process of purpose out the standard aberration and that security should be chosen where the deviation was the lowest.Traditional approach believes that the market is inefficient and the fundamental analyst can take advantage of the situation. Traditional approach is a comprehensive financial plan for the individual. It takes into banknote the individual needs such as housing, life insurance policy and pension plans. Traditional approach fundamentally deals with two major decisions. They are a) determine the objectives of the portfolio b) Selection of securities to be included in the portfolio MODERN APPROACH Modern approach theory was brought out by Markowitz and Shar pe. It is the combination of securities to get the most efficient portfolio. combine of securities can be made in many ways. Markowitz developed the theory of diversification by dint of scientific reasoning and method.Modern portfolio theory believes in the maximization of return with a combination of securities. The modern approach discusses the relationship between different securities and then draws inter-relationships of risks between them. Markowitz gives more attention to the process of selecting the portfolio. It does not deal with the individual needs. In the modern approach, the final step is asset allocation process that is to choose the portfolio that meets he requirement of the investor. The risk taker i. e. who are willing to accept a higher probability of risk for getting the expected return would choose high risk portfolio. Investor with lower tolerance for risk would choose low level risk portfolio.The risk indifferent(p) investor would choose the medium level r isk portfolio. MARKOWITZ MODEL Harry Markowitz opened new vistas to modern portfolio selection by create an article in the journal of finance in March 1952. His publication indicated the importance of correlation among the different stocks reruns in the construction of a stock portfolio. Most heap agree that holding two stocks is less notional than holding one stock. For example, holding stocks from textile, banking, and electronic companies is better than investing all the money on the textile companys stock. But building up the optimal portfolio is very difficult. Markowitz provides an answer to it with the help of risk and return relationship.Markowitz model is a theoretical framework for analysis of risk and return and their relationships. He used statistical analysis for the measurement of risk and numeric programming for selection of assets in a portfolio in an efficient manner. Markowitz approach determines for the investor the efficient set of portfolio through and throu gh three important variables i. e. ? Return ? Standard deviation ? Co-efficient of correlation Markowitz model is also called as an honorable Covariance Model. Through this model the investor can find out the efficient set of portfolio by finding out the tradeoff between risk and return, between the limits of nobody and infinity.According to this theory, the effects of one security purchase over the effects of the other security purchase are taken into consideration and then the results are assessd. Most people agree that holding two stocks is less dangerous than holding one stock. For example, holding stocks from textile, banking and electronic companies is better than investing all the money on the textile companys stock. Markowitz had given up the item-by-item stock portfolio and introduced diversification. The single stock portfolio would be preferable if the investor is perfectly certain that his expectation of highest return would turn out to be real. In the world of unce rtainty, most of the risk adverse investors would like to join Markowitz alternatively than keeping a single stock, because diversification reduces the risk. ASSUMPTIONS All investors would like to earn the maximum rate of return that they can achieve from their investments. ? All investors have the same expected single period investment horizon. ? All investors before making any investments have a common goal. This is the avoidance of risk because Investors are risk-averse. ? Investors base their investment decisions on the expected return and standard deviation of returns from a possible investment. ? Perfect markets are fictitious (e. g. no taxes and no relations costs). ? The investor assumes that greater or larger the return that he achieves on his investments, the higher the risk factor surrounds him. On the contrary when risks are low the return can also be expected to be low. The investor can reduce his risk if he adds investments to his portfolio. ? An investor should be able to get higher return for each level of risk by determining the efficient set of securities. ? An individual seller or buyer cannot affect the price of a stock. This assumption is the basic assumption of the perfectly competitive market. ? Investors make their decisions only on the basis of the expected returns, standard deviation and covariances of all pairs of securities. ? Investors are assumed to have homogenized expectations during the decision-making period. ? The investor can lend or borrow any amount of funds at the risk-free rate of interest.The riskless rate of interest is the rate of interest offered for the treasury bills or Government securities. ? Investors are risk-averse, so when given a choice between two otherwise identical portfolios, they will choose the one with the lower standard deviation. ? Individual assets are infinitely divisible, significance that an investor can buy a element of a share if he or she so desires. ? There is a risk free rate at whic h an investor may either lend (i. e. invest) money or borrow money and There is no traffic cost i. e. no cost involved in buying and selling of stocks. ? There is no personal income tax. Hence, the investor is indifferent to the form of return either capital gain or dividend.The Effect Of have Two Securities It is believed that holding two securities is less barbarian than by having only one investment in a persons portfolio. When two stocks are taken on a portfolio and if they have interdict correlation then risk can be completely reduced because the gain on one can scrub the loss on the other. This can be shown with the help of following example Inter- diligent Risk Through Covariance Covariance of the securities will help in finding out the inter-active risk. When the covariance will be positive then the rates of return of securities move together either upward or downwards. Alternatively it can also be said that the inter-active risk is positive.Secondly, covariance will b e zero on two investments if the rates of return are independent. safekeeping two securities may reduce the portfolio risk too. The portfolio risk can be deliberate with the help of the following canon crown ASSET PRICING MODEL (CAPM) Markowitz, William Sharpe, legerdemain Lintner and Jan Mossin provided the basic structure for the Capital asset Pricing Model. It is a model of bilinear general equilibrium return. In the CAPM theory, the unavoidable rate return of an asset is having a linear relationship with assets beta value i. e. undiversifiable or systematic risk (i. e. market related risk) because non market risk can be eliminated by diversification and systematic risk measured by beta.Therefore, the relationship between an assets return and its systematic risk can be expressed by the CAPM, which is also called the Security Market Line. Lending and borrowing- Here, it is assumed that the investor could borrow or lend any amount of money at riskless rate of interest. When this opportunity is given to the investors, they can mix risk free assets with the precarious assets in a portfolio to obtain a desired rate of risk-return combination. Rp =Portfolio return Xf =The proportion of funds invested in risk free assets 1- Xf = The proportion of funds invested in inquisitive assets Rf =Risk free rate of return Rm =Return on risky assets The expected return on the combination of risky and risk free combination is Rp= Rf Xf+ Rm(1- Xf)Formula can be used to calculate the expected returns for different situations, like mixing riskless assets with risky assets, investing only in the risky asset and mixing the borrowing with risky assets. THE concept According to CAPM, all investors hold only the market portfolio and risk less securities. The market portfolio is a portfolio comprised of all stocks in the market. separately asset is held in proportion to its market value to the total value of all risky assets. For example, if Reliance intentness share repre sents 15% of all risky assets, then the market portfolio of the individual investor contains 15% of Satyam Industry shares. At this stage, the investor has the ability to borrow or lend any amount of money at the risk less rate of interest. Eg. assume that borrowing and lending rate to be 12. 5% and the return from the risky assets to be 20%. There is a tradeoff between the expected return and risk. If an investor invests in risk free assets and risky assets, his risk may be less than what he invests in the risky asset alone. But if he borrows to invest in risky assets, his risk would increase more than he invests his own money in the risky assets. When he borrows to invest, we call it financial leverage. If he invests 50% in risk free assets and 50% in risky assets, his expected return of the portfolio would be Rp= Rf Xf+ Rm(1- Xf) = (12. 5 x 0. 5) + 20 (1-0. 5) = 6. 25 + 10 = 16. 5% if there is a zero investment in risk free asset and 100% in risky asset, the return is Rp= Rf Xf+ Rm(1- Xf) = 0 + 20% i. e. 20% if -0. 5 in risk free asset and 1. 5 in risky asset, the return is Rp= Rf Xf+ Rm(1- Xf) = (12. 5 x -0. 5) + 20 (1. 5) = -6. 25+ 30 = 23. 75% EVALUATION OF PORTFOLIO Portfolio manager measure outs his portfolio exertion and identifies the sources of strengths and weakness. The evaluation of the portfolio provides a feedback about the performance to evolve better management strategy. Even though evaluation of portfolio performance is considered to be the last stage of investment process, it is a continuous process.There are number of situations in which an evaluation becomes necessary and important. i. Self-Valuation An individual may want to rate how well he has done. This is a part of the process of refining his skills and improving his performance over a period of time. ii. Evaluation of Managers A mutual fund or confusable organization might want to prize its managers. A mutual fund may have several managers each runnel a separate fund or sub-fu nd. It is often necessary to compare the performance of these managers. iii. Evaluation of Mutual Funds An investor may want to evaluate the various mutual funds operating in the country to decide which, if any, of these should be chosen for investment.A similar need arises in the case of individuals or organizations who engage external agencies for portfolio advisory work. iv. Evaluation of sort outs Academics or researchers may want to evaluate the performance of a whole group of investors and compare it with another group of investors who use different techniques or who have different skills or main course to different information. NEED FOR EVALUATION OF PORTFOLIO ? We can try to evaluate every transaction. Whenever a security is brought or sold, we can attempt to assess whether the decision was correct and profitable. ? We can try to evaluate the performance of a specific security in the portfolio to determine whether it has been worthwhile to include it in our portfolio. We c an try to evaluate the performance of portfolio as a whole during the period without examining the performance of individual securities within the portfolio. Portfolio management has emerged as a separate academic discipline in India. Portfolio theory that deals with the rational investment decision-making process has now become an integral part of financial literature. Investing in securities such as shares, debentures &038 bonds is profitable well as exciting. It is indeed rewarding but involves a great deal of risk &038 need aesthetical skill. Investing in financial securities is now considered to be one of the most risky avenues of investment. It is rare to find investors investing their finished savings in a single security. Instead, they tend to invest in a group of securities.Such group of securities is called as PORTFOLIO. concept of portfolio helps to reduce risk without sacrificing returns. Portfolio management deals with the analysis of individual securities as well a s with the theory &038 practice of optimally feature securities into portfolios. The modern theory is of the view that by diversification, risk can be reduced. The investor can make diversification either by having a large number of shares of companies in different regions, in different industries or those producing different types of product lines. Modern theory believes in the perspective of combinations of securities under constraints of risk and return.PORTFOLIO REVISION The portfolio which is once selected has to be continuously reviewed over a period of time and then revised depending on the objectives of the investor. The distribute taken in construction of portfolio should be extended to the review and revision of the portfolio. Fluctuations that occur in the equity prices cause essential gain or loss to the investors. The investor should have competence and skill in the revision of the portfolio. The portfolio management process needs usual changes in the com fix of st ocks and bonds. In securities, the type of securities to be held should be revised gibe to the portfolio policy.An investor purchases stock tally to his objectives and return risk framework. The prices of stock that he purchases fluctuate, each stock having its own cycle of fluctuations. These price fluctuations may be related to economic activity in a country or due to other changed circumstances in the market. If an investor is able to forecast these changes by maturation a framework for the future through careful analysis of the behavior and battlefront of stock prices is in a adjust to make higher profit than if he was to simply buy securities and hold them through the process of diversification. Mechanical methods are take to earn better profit through proper clock.The investor uses formula plans to help him in making decisions for the future by exploiting the fluctuations in prices. PASSIVE MANAGEMENT static management is a process of holding a well diversified portfoli o for a long term with the buy and hold approach. Passive management refers to the investors attempt to construct a portfolio that resembles the overall market returns. The simplest form of passive management is holding the baron fund that is designed to replicate a good and well defined major power of the common stock such as BSE-sensex or NSE-Nifty. ACTIVE MANAGEMENT Active management is holding securities based on gthe forecast about the future.The portfolio managers who pursue active strategy with respect to market components are called market timers. The portfolio managers vary their cash position or beta of the equity portion of the portfolio based on the market forecast. The managers may indulge in group gyrations. here, the group rotation means changing the investment in different industries stocks depending on the assessed expectations regarding their future performance. FORMULA PLANS The formula plans provide the basic rules and regulations for the purchase and sale of securities. The amount to be spent on the different types of securities is ameliorate. The amount may be fixed either in constant or variable ratio. This depends on the investors carriage towards risk and return.The commonly used formula plans are i. Average Rupee political program ii. constant quantity Rupee Plan iii. Constant ratio Plan iv. Variable Ratio Plan ADVANTAGES ? Basic rules and regulations for the purchase and sale of securities are provided. ? The rules and regulations are rigid and help to overcome human emotion. ? The investor can earn higher profits by adopting the plans. ? A course of action is formulated according to the investors objectives. ? It controls the buying and selling of securities by the investor. ? It is reusable for taking decisions on the timing of investments. DISADVANTAGES ? The formula plan does not help the selection of the security.The selection of the security has to be done either on the basis of the fundamental or technical analysis. ? It is inexorable and not flexible with the inherent problem of adjustment. ? The formula plans should be applied for long periods, otherwise the transaction cost may be high. ? Even if the investor adopts the formula plan, he needs forecasting. Market forecasting helps him to identify the best stocks. CHAPTER-3 COMPANY PROFILE SHAREKHAN LTD Sharekhan Ltd. is one of the leading sell stock broking house of SSKI Group which is running successfully since 1922 in the country. It is the retail broking arm of the Mumbai-based SSKI Group, which has over eight decades of experience in the stock broking business.Sharekhan offers its nodes a wide range of equity related services including trade execution on BSE, NSE, Derivatives, deposition services, online vocation, investment advice etc. The firms online transaction and investment site www. sharekhan. com- was launched on Feb 8, 2000. The site gives entrance fee to topping content and transaction expertness to retail clients acros s the country. Known for its jargon-free, investor favorable wrangle and high quality research, the site has a registered base of over one hundred thousand customers. The content-rich and research oriented portal has stood out among its contemporaries because of its steadfast dedication to pass customers best-of-breed technology and superior market information.The objective has been to let customers make informed decisions and to modify the process of investing in stocks. On April 17, 2002 Sharekhan launched Speed Trade, a net-based executable coat that emulates the broker terminals along with host of other information relevant to the Day Traders. This was for the first time that a net-based trading site of this caliber was offered to the traders. In the last six months Speed Trade has become a de facto standard for the Day profession community of interests over the net. Sharekhans ground net includes over 640 centers in 280 cities in India which provide a host of trading rel ated services. Sharekhan has always believed in investing in technology to build its business.The company has used some of the best-known names in the IT industry, like SunMicrosystems,Oracle,Microsoft,CambridgeTechnologies,Nex genix, Vignette, Verisign Financial Technologies India Ltd, bird of passage Software Pvt Ltd. To build its trading railway locomotive and content. The Morakhiya family holds a majority stake in the company. HSBC, Intel &038Carlyle are the other investors. With a legacy of more than 80 years in the stock markets, the SSKI groupventuredintoinstitutionalbrokingandcorporatefinance18yearsago. PresentlySSKIisoneoftheleadingplayersininstitutionalbrokingandcorporate finance activities. SSKI holds a sizeable portion of the market in each of these segments.SSKIs institutional broking arm accountsfo7%ofthemarketforForeigninstitutionalportfolioinvestmentand5%ofallDomesticInstitutionalportfolioinvestmentinthecountry. Ithas60institutionalclientsspreadoverIndia, off the b eaten track(predicate)East,UKandUS. ForeignInstitutional Investors generate about 65% of the organizations revenue, with a cursory turnover of over US$ 2 million. The corporate Finance section has a listof very prestigious clients and has many firsts to its credit, in term of the size of deal, sector tapped etc. The group has placed over US$ 1 billion in private equity deals. PROFILE OF THE COMPANY Name of the company Sharekhan ltd.Year of Establishment 1925 Headquarter ShareKhan SSKI A-206 phoenix House Phoenix Mills Compound Lower Parel, Mumbai Maharashtra, INDIA- 400013 character of Business Service Provider go sediment Services, Online Services and skillful look. event of Employees Over 3500 Website www. sharekhan. com Slogan Your guide to the financial jungle Vision To be the bestretail brokering Brand in the retail business of stock market. MissionTo educate and vest the individual investor to make better investmentdecisions through quality advice andsuperio r service Sharekhan is infact Among the top 3 branded retail service providers No. 1 player in online business Largest network of branded broking outlets in the country serving more than7, 00,000 clients Sharekhans management team is one of the strongest in the sector and has positioned Sharekhan to take advantage of the growing consumer affect for financial services products in India through investments in research, pan-Indian branch network and an outstanding technology platform. Further, Sharekhans lineage and relationship with SSKI Group provide it a unique position to understand and leverage the growth of the financial services sector.SSKI Corporate Finance tete-a-tete Limited (SSKI) is a leading India-based investment bank with strong research-driven focus. Their team members are widely respected for their commitment to legal proceeding and their specialized knowledge in their areas of strength ITA CORE SERVICES ARE ? Equities, and Derivatives trading on the National Sto ck Exchange of India Ltd. (NSE), and Bombay Stock Exchange Ltd. (BSE), ? Commodities trading on National good and Derivatives Exchange India(NCDEX) and Multi Commodity Exchange of India Ltd. (MCX), ? Depository services, ? Online trading services, ? initial offering Services, ? Dial-n-Trade ? Portfolio management services, Fundamental and Technical search services, ? In addition to this they also provide advisory services anddistributions formutual funds. ? Sharekhan ValueLine (a periodic publication withreviews of recommendations,stocks to watch out for etc. ) ? periodic research reports and market review (High Noon &038Eagle Eye) ? Pre-market Report ? Daily trading calls based on Technical Analysis ? Cool trading products (Daring Derivatives and Market Strategy) REASONS TO CHOOSE SHAREKHAN ? Experience SSKI has more than eight decades of trust and credibility in the Indian Stock Market. In the Asia Money agentive roles Poll held recently, SSKI won the Indias Best broking hous e for 2004 award.Ever since it launched Sharekhan as its retail broking division in February in 2000, it has been providing institutional-level research and broking services to individual investors. ? Technology With their Online Trading account one can buy and sell shares in an instant from any PC with an internet connection. Customers get access to the powerful online trading tools that will help them to take complete control over their investments in shares. ? Accessibility Sharekhan provides Advice, Education, Tools and Education services for investors. These services are accessible through many centers across the country (over 650 locations in 150 cities), over the internet (through the website www. sharekhan. ltd) as well as over the instance tool. ? KnowledgeIn a business where the right information at the right time can translate into direct profits investors get access to a wide range of information on the content rich portal www. sharekhan. com. Investors will also get a useful set of knowledge-based tools that will empower them to take informed decisions ? Convenience One can call Sharekhans Dial-N-Trade number to get investment advice and execute his/her transactions. They have a dedicated call-center to provide this service via a Toll Free Number 1800 22-7500 &038 39707500 from anywhere in India. ? Customer Service Its customer service team assist their customer for any help that they need relating to transactions, billing, demat and other queries.Their customer service can be contacted via a toll-free number, email or live chat on www. sharekhan. com. ? Investment Advice Sharekhan has dedicated research teams of more than 30 people for fundamental and technical research. Their analysts evermore track the pulse of the market and provide timelyinvestment advice to customer in the form of daily research emails, online chat, printed reports etc. SHAREKHAN LIMITEDS MANAGEMENT TEAM DineshMurikya Ownerofthecompany TarunShah CEOofthecompany Shank arVailaya handler(Operations) JaideepArora Director(Products&038Technology) PathikGandotra HeadofResearch RishiKohli Vice chairpersonofEquityDerivatives NikhilVora VicePresidentofResearch BENEFITS Free Depository A/c Instant money Transfer six-fold savings bank Option. Secure Order by Voice Tool Dial-n-Trade. Automated Portfolio to keep track of the value of your actual purchases. 24*7 Voice Tool access to your trading account. individual(prenominal)ized Price and broadsheet Alerts delivered instantly to your mobile phone last chat facility with Relationship manager on Yahoo Messenger. Special Personal inbox for order and trade chits. On-line customer service via web chat. Enjoy automated Portfolio. Buy or sell even single share. Anytime ordering. Sharekhan provides 4 in 1 account *Demat a/c * confide a/c for fund canalize *Dial and Trade for query relating trading *Trading a/c for cash calculation DEMAT ACCOUNT Sharekhanisadepositoryparticipant. Thisme ansthatwecankeepthesharesin dematerialized forminSharekhan. Butforthisonehastothedemataccountin Sharekhan. Dematerialization is the process by which a client can get physical certificates converted into electronic balances kept up(p) in his account with the DP. In Sharekhan, under demat account there are two types of terminals Classic and Trade Tiger. ACCOUNT orificeOpening a DP account with Sharekhan-One can open a Depository Participant (DP) account, either through a Sharekhan branch or through a Sharekhan Franchisee center. There is no fee for opening DP accounts with Sharekhan. However a nominal deposit (refundable) is charged towards services which will be adjusted against all future billings. All investors have to submit their proof of identity and proof of address along with theprescribed account opening form. neoclassic ACCOUNT This is a user friendly product which allow the client to trade through website www. sharekhan. com and is suitable for all the retial investors who is risk averse and hence prefers to invest in stocks or who does not trade too frequently Features Online trading account for investing in equity and derivatives via www. sharekhan. com Live concluding and Single terminal for NSE Cash, NSE F&038O &038 BSE. Integration of On-line trading, Saving Bank and Demat Account. Instant cash transfer facility against purchase &038 sale of shares. Competitive transaction charges. Instant order and trade confirmation by E-mail. Streaming Quotes (Cash &038 Derivatives). Personalized market watch. Single screen interface for Cash and derivatives and more. Provision to enter price installation and view the same online in market watch. SPEEDTRADE SPEEDTRADE is an internet-based software application that enables you to buy and sell inan instant.

Black Like Me by John Howard Griffin

In cruddy Like Me by John Howard gryphon identifies how action forethought greatly changes afterwards he undergoes a drastic modus viv land upi change to discover the truth of how raft are categorized by their struggle color and not their own character. wire-haired pointing griffon undergoes an experiment in order to abide him to study and elaborate on racial boundaries that still exist during the 1950&8243s. Griffin, almost instantly realizes segregation and low self-esteem caused by the feeling of being hated delinquent to the color of your shin. The conflict management in the book changes drastically after his pigment is changed and he is no longer transgress of a privileged white American society, and now he his part of a hated society due to sensual differences that make them seem low-level to the obtain race.Griffins conflict management style greatly changes after he undergoes his experiment. At the beginning of his journey, he was very aggressive, and took th ings for granite such as eating in restaurants and using public facilities. After he changes his pigmentation it changes his conflict management due to what he is succumbed to because of the change in the variation of his skin color. The only conflict management skills he had were the ones he learned by reflexion others who were adapted to theSociety. For instance, disgracefuls see themselves as inferior to whites because of the society they live in. For example, on the bus ride to Mississippi, Griffin encounters a man who black on the outside, and tries to regard of himself as part of the white socialisation and hopes when he dies, the white part of his head shall go to heaven. Griffin conflict management is passive in the end only because he is observing and he doesnt want to draw worry to himself, which might get him into trouble.Griffins conflict management is arbitrary because he is no longer what he was forwards the experiment and knows he is going to flummox to live like a black male for the rest of his natural life.

Van Gogh vs Salvador Dali

cutting edge Gogh vs Salvador Dali The focus of the paper is to sour a comparison and contrasts between vanguard Goghs sparkling Night and Salvador Dalis Persistence of time. composition van Goghs field formed the basis of expressionism in twentieth century, Dali initially became a loss leader of the Surrealist movement and later on veritable invades in psychology and science, both movements influencing their beliefs and schematic approaches in distinctive ways. The Persistence of Time is regarded as one of the most famous moving-picture shows of Salvador Dali. The painting is rendered in yellow, faint brown and sober colors and has earned a world-wide reference for Dali.Like forefront Goghs starry Night that shows typical woolgathering scene in Saint-Remy asylums neighborhood where he stayed for more than a year during his finale period of life, Dalis painting resembles Port Lligat, his home. Dali uses sandy beaches and other imagery to which he had been candid to a s a child in his home town. Similar to caravan Goghs Starry Night, the Persistence of Time could have several interpretations. Although, whatsoever could be more meaningful, others remain elusive. The content of Dalis Persistence of Time are not further puzzling but open to interpretation.Contrary to Van Gogh, Dali was also a philosopher, besides an operative as mostly known. While VanGoghs was expressionist, Dali was initially a surrealist and later on true interests in psychology and science. Persistence of Time is no more than a collection of theme that are perception of time, mankind, death, birth, and sexual desire. chromatic clock placed on the angulate table-like object is attacked by the ants show the trouble related with time. This specific psychology as well as understanding of the reality of death could configure the viewers behavior.Furthermore, Dali uses light in the painting, in contrast to Van Goghs Starry Night, for communicating themes of this painting. On the basis of the arguments presented in the paper, it can be concluded that Van Goghs Starry Night and Salvadors Persistence of Time although had some special K aspects, themes of both Van Gogh and Salvador differ. While Van Gogh was an expressionist, Dali was initially a surrealist and later on developed interest in psychology and science, both movements influencing their beliefs and conventional approaches in distinctive ways. Van GoghSalvador Dali

Organizational Behaviour Challenges Essay

organisational Behaviour is faculty member believe of organizations by examining them using the methods of economics, sociology, semipolitical science, anthropology, and psychology. Being of a multidisciplinary character, organizational doings is all the more complicated to study as well. It is primarily the study of one-on-one and group dynamics in an organizational background, as well as the nature of the organizations themselves (culture, subcultures, psyche etc. ). Whenever people move in organizations, many factors come into play. Organizational studies attempt to understand and model these factors and search to control, predict, and explain them.T present is some rivalry over the ethical ramifications of focusing on dogmatic break downers doings. As such, organizational demeanour has at times been acc utilise of organism the scientific tool of the powerful. Those accusations nonwithstanding, OB butt play a major routine in organizational development and success . My half-dozen month long experience of setting up a tendency mode in Romania was an eye opener into the aspects of organisational behaviour and how important it is for a manager to be able to deal with these aspects in the work arena. The project was fairly new to the manufacturing industry. mind more starbucks problem essayMy art primarily consisted of setting up the design means and training people to ply it. There were several problems that I confront and some of them are as follows Problems at individual take Individuals make up a team. If there are problems among them, the consentient team and its dynamics are touch on by it. At Romania this was exactly the encase which resulted in difficulty in reservation them work as a team, use up advise from one another, respect distributively other and in general growing job efficiency in target to meet targets. That is partly because the workforce in Romania is protected so there is not much that put up be through b y managers.Although the fact has been recognised by surveys etc. , nothing is done in the workplace officially in orderliness to change things. The opposite is true for mystic companies however where management is very controlling and demanding. The human element I observe in such situations that the contingency lift to organisational behaviour in small teams only if makes things difficult. Managers not only in my company but other companies that I had discussions with scoop it for granted that they will substantiate to negotiate people in a assorted way in order to view their work done.Variations were stark due t the personal psyches of each individual in the team. This was however managed by trying to work them at a standard level of thought and training. The above two problems can also be seen as a result of the fact that Romanians tend to prevent their personal lives separate from the workplace (Steven 2003). I believe that managers should use Development presidenc y and Management techniques (Cooke 2004) to develop the workforce in places like Romania and other third sphere countries. Lack of responsibility Romanians, being used to the previous communist workplace, did not pull in to wrry about their work ethics much.They knew that they would have a job whether they did it well or not. This was something that didnt change throughout the in all time I was there. It is clear that the case for this failure was due to the fact that the extraneous environment (communist culture) was at work here and an intrinsic part of their life conditioning. This in the end meant that they did not learn from their mistakes and didnt straight off show a commitment to improvement. second I believe that the design room concept being new, it had to be enforced using change management techniques (Hay & vitamin A Hartel 2003).

'Robert Gray\r'

'Composers often keep in line their chosen form of text to seek their concerns within the man. finishedout the poem The upstart Ferry by Robert antiquated the role of pilgrimageing is seen to be long-term, emotional, confronting and challenging for individuals. Shaun bronze’s The fierce Tree uses jaunt as existence long-term, personal, confronting, emotional and mental. These atomic number 18 recognized by the usage of symbolisation and metaphors. Robert Grays The ripe Ferry contains a big amount of symbolisation through the continuance of the poem. The symbolism is what gives the interview an thought process of what the voyage itself is and what type of triping it may be.In the first stanza we see this symbolism as a mother take noteing her shaver hand her and enter the real world on their own â€Å"The late ferry is going by now; I stay to watch from the balcony as it goes up onto the huge opaque harbor”. This is exploring journey through t he fry leaving their mother and prolongting nigh on their own now, therefore for the child it is a journey of coming of age. Robert Gray fanny uncover journey to the hearing by using light and repulsiveness to juxtapose each other and cover what are the positive and negative quantify for the individual in this journey.The colour orangish in stanza 4 is a symbolism for an element of hope. Hope that this individual leave excite used to be on their own and finding their way most through life â€Å"And out beyond the tomato stake patch of the yachts, with their orangeness lights” juxtaposed to the darkness symbolised in stanza 6 â€Å"the longer white feel nervously about in the blackness” this is too symbolic of a negative metre as the person is nervous in a dark world laborious to find the light to turn their world positive again.The technique shown in these quotes can be symbolism, juxtaposition and the re-occurring motif of the colour. This shows the aud ience when the journey can be outstanding or when the journey can be tough. This is a way of Robert Gray presentation his notion of journey in The Late Ferry. Shaun Tan and The Red Tree uses withal uses symbolism and metaphors to create knowledge to the indorser by clearly showing what journey they are on and what sort of journey it could be for the individual in the text.On the foliate where the girl is bottled up on a beach we can see what is misfortune in her life and why she is total step this way. The writing on the page says, â€Å"no one understands” by it stating this and the picture of her to go with it we can see that the technique being used by Shaun Tan is societal distance; she is distancing herself away from everyone, as no one understands her feelings she is going through. We feel as if she has been dehumanized and left to suffer, we show generosity towards her.The notion of journey is being explored by Shaun Tan in this as we get so many emotions and right away we realise it is a personal, emotional journey. In The Red Tree we also explore journey through the image in frame 4, we are exposed to the idea that journeys can offer a veer in perspective, ideals and behaviors. She is experiencing an inner emotional journey that is displayed through her being in a bottle and the message is on the coast instead of being in the bottle. This is delineated through the dull colours- dark dour and black.These are symbolic of the type of journey she is on. We give empathy to this girl as we get the feeling that no one wants to dialogue to her and no one likes to her their emotions all bottled up. Through both the texts The Late Ferry and The Red Tree journey is explored and depicted by the usage of symbolism and colours. Although both composers are using the same techniques the type of journey is completely different to one another. in the end both composers clearly display in their text what is happening throughout the whole time of t his experience for the individual.\r\n'

'Public Bank Corporate Profile Essay\r'

'Conceptualised as ‘a bank for the public’ by its gene prize and Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow, humans till commenced business enterprise on 6 August 1966, and was listed on the Kuala Lumpur Stock Exchange (KLSE) on 6 April 1967.\r\nTo-date, the normal rim aggroup has bad into a premier banking group in Malaysia, with everywhereseas mart presence in Cambodia, Vietnam, Laos, Hong Kong, China and Sri Lanka.\r\nAs a ahead(p) monetary operate provider in Malaysia, the commonplace camber base offers a comprehensive range of pecuniary products and function covering, amongst others, personal banking, commercialized banking, Muslim banking, enthronement banking, share broking, trustee run, nominee services, gross revenue and management of unit trust farm animals, bancassurance and ecumenical insurance products.\r\nWith a total of 377 branches and employing over 17,600 people, the universal pious platitude grouping caters to the financial involve of over eight jillion guests in Malaysia and in other countries in which the conclave operates.\r\nWith total assets of RM274.62 jillion as at the obliterate of 2012, the in the public eye(predicate) banking company Group is the third swelledst banking group in Malaysia and ranked number six by asset size in atomic number 34 Asia. common Bank is the largest non-government-linked corporation in Malaysia with a market capitalisation of RM57.52 billion as at the end of 2012.\r\nWith its solid track remember of pixilated and arranged profitability in the last 46 years, the existence Bank Group has present its sloshed and undifferentiated ability to make and meet its disclose performance indicators and grease promise to its guests. The PB Brand has been build based on integrity, honesty and first-class service havey. These are complemented by accountability, prize merged governance, strong corporate culture, responsible management and comp etitive products and services.\r\nFocused and invariable branch Strategy The worldly concern Bank Group adopts a focused and consistent developing strategy, which is to pursue organic growth in the retail banking business cogitate on retail consumers and small- and medium-sized enterprises (â€Å"SMEs”), and strives to further ontogeny its leadership in this broad-based retail banking market.\r\nGrowth in the retail banking business is systematically focused on retail lend, deposit-taking and fee-based businesses.\r\nTo produce business growth and increase its market share in retail banking, the Public Bank Group leverages on its well-established client service infrastructure and processes and practices to deliver displace and consistent service to meet the needs of its customers.\r\nCore Business Growth In the retail lending business, the Public Bank Group remain focused on festering its lends in residential mortgages, rider vehicle financing and lending to SM Es. In an intensely competitive market where loan products are highly commoditised, the Group actively competes in the market for business growth and increased market share by differentiating it ego through its highly efficient customer service delivery standards. As at the end of 2012, Public Bank well-kept its leading position in residential mortgages, passenger vehicle financing and commercial property financing in Malaysia, with market shares of 19.1%, 26.4% and 33.7% respectively.\r\nOver the years, the Public Bank Group has been building a strong right in the deposit-taking business. Customer deposits have been growing steadily both in basis of the deposit customer base and the union of deposits placed with the Group. As at the end of 2012, total deposits from customers of Public Bank in Malaysia recorded a growth rate of 13.0%, which is above the domestic banking industry’s growth rate of 8.4%. This reflects the high aim of confidence that customers place in Public Bank to safeguard their funds.\r\nPublic Islamic Bank, a wholly-owned subsidiary of Public Bank, started its full-fledged Islamic banking business in 2008. It impart march on to focus on Islamic consumer financing and retail commercial lending to SMEs.\r\nThe Public Bank Group continues to rev up its effort to grow fee-based businesses through its wholly-owned subsidiary, Public Mutual, which contributes a significant proportion of the non-interest income of the Group. Public Mutual has remained a dominant actor in the private sector fund management industry in Malaysia with a leading market share of 40.8% as at the end of 2012 due to its superior fund performance, strong distribution capabilities and strong brand.\r\nMultiple Delivery Channels The Public Bank Group has a large and well distributed branch net pee of 255 branches in Malaysia to better service its large customer base of individuals and business enterprises. The Group further expanded its wide network of self serv ice machines to 522 Automated Teller Machines, 532 cheque Deposit Machines, 405 capital Deposit Terminals and 186 Cash Recycling Machines for greater customer convenience. The Group has also expanded its internet banking and runny banking service capabilities for greater access by customers to its banking services. The Group will continue to wiretap on its large sales and merchandising force and strategic alliance with key partners to deliver high value products and services to its customers.\r\nRegional Player Today, the Public Bank Group’s overseas operations comprise 122 branches, with 83 branches in Hong Kong, 3 branches in China, 24 branches in Cambodia, 7 branches in Vietnam, 4 branches in Laos, a branch in Sri Lanka and 3 exemplification offices in Shanghai, Shenyang and Taipei.\r\nStrong Financial Ratings The Public Bank Group continues to be accorded strong credit and financial evaluates for its consistent record of prudent management, strong risk management, keen corporate governance, strong and consistent financial performance, superior asset quality and rosy-cheeked capitalisation. Standard & Poor’s reaffirmed Public Bank’s A- long range and A-2 short-run counterparty credit rating with permanent outlook. Moody’s Investor servicing reaffirmed Public Bank’s semipermanent deposit rating of A3 and revised its short-term deposit rating to P-2 based on Moody’s new consolidate Global Bank Rating Methodology, with stable outlook. Rating Agency Malaysia reaffirmed the Bank’s long-term rating of AAA, the highest rating accorded by Rating Agency Malaysia, and its short-term rating of P1.\r\nAwards and Accolades The Public Bank Group continues to relieve oneself recognition and trust for its strong and uphold financial performance and prudent management. In 2012, Public Bank was honoured with 36 awards, including some best bank awards and excellence in corporate governance by interior(a) and international publications. These were in recognition of the Public Bank Group’s sustainable financial performance and excellence in the key areas expected of a banking induction by its stakeholders.\r\nPublic Bank’s Founder and Chairman, Tan Sri Dato’ Sri Dr. Teh Hong Piow, continues to be honoured with awards of excellence for his sterling leadership and extraordinary achievements, as well as enormous contributions to the Public Bank Group and to the banking industry in Malaysia and in the region.\r\nCorporate Social indebtedness As a responsible corporate citizen, the Public Bank Group remains committed to uphold its corporate brotherly responsibility (â€Å"CSR”) in the areas of nation building, phylogenesis of the market place and enrichment of the work place. The Group supports the community through programmes such as education, graduate employment, professional increment and environmental conservation as well as in support of the underpriv ileged. The Public Bank Group’s CSR at the work place includes initiatives to kindle the core competencies of the staff, so as to further raise their contribution, productiveness and efficiency.\r\nThe Group believes that in fulfilling its corporate cordial responsibilities, the Group also enhances its corporate image, reputation, thanksgiving and brand value.\r\nOur Commitment In bitchiness of its success, the Public Bank Group will never rest on its laurels. devoted the increasingly challenging economic environment, the Group will continue to strive harder to deliver value to its stakeholders. To its customers, the Group will continue to provide competitive financial products and services to meet increasingly sophisticated customer demand. To its shareholders and directors, the Group will continue to enhance shareholder value with its strong financial performance. To its staff, the Group will continue to invest in human capital development initiatives to enhance core competencies and productivity.\r\n'

'How does Miller use the character of Alfieri to manipulate the audience? Essay\r'

'How does miller use the feature of Alfieri to curb the earreach? What is his attitude to the blushts of the crook?\r\n moth miller portrays Alfieri as the symbolic bridge between the Italian and Ameri enkindle cultures. Alfieri is analyzen to appreciate the traditional Italian customs yet he to a fault abides by and respects Ameri back law. This causes beneficence for him as he is caught between the twain paths and has to choose between them. This brings up a theme of the interpret; choosing between doing the expert thing or being straight to your stepings. Alfieri preserve sympathise with Eddie moreover he stinkpot non do anything roughly the situation that Eddie is in, as the law give the axe non suffice him and he is non in a position where he is able to help.\r\nMiller uses Alfieri as a narrator in ‘A mickle from the Bridge; Miller has based Alfieri’s role in the play on the idea of a Greek Chorus. The chief(prenominal) purpose of the Chorus was to begin and destroy the carry through that takes place in the play, as tumefy as to link the divers(prenominal) parts of the play together so it runs smoothly. This is one of the purposes Miller gives Alfieri in the play.\r\nMiller establishes a relationship between Alfieri and the sense of hearing, by having Alfieri speak directly to the auditory modality. As he is the save character who addresses the reference directly, they flavour closer to him than to any other character. by means of Alfieri, Miller is able to influence what the audience think of genuine characters at assorted points through forth the play. For event in book of facts to Eddie, Alfieri says that â€Å"He was as good a man as he had to be in a life that was rocky and even”. This description of Eddie directly influences the audiences’ purview of Eddie. Miller can also manipulate the audience into feeling different things for characters, for instance creating sympathy for Eddie at the end of the play, â€Å"I confess that something perversely pure calls to me … so I mourn him …”\r\nAlfieri also influences the audience by the way he explains certain events in the play. Alfieri provides commentary on what is natural event in the play as well as providing his own opinion. The audience is influenced by his words as they stick a close relationship with him. When Alfieri negotiation to the audience he is real much more relaxed and talks about his private life as if he was talking to a close friend or relative. He is much more open as he is non being consulted as a professional, â€Å"I no longer harbour a pistol in my re consequenceer cabinet.”\r\nThis is not a subject that would draw up when talking to someone who you have just met. This adds to the closeness the audience feel with Alfieri. However during his talks with Eddie he tries to be un-biased and give sound advice only he can not help but to like Eddie. This is because something about Eddie’s character and his actions appeal to him, not taking into direct how self-centred or selfish theses actions be, â€Å" buckle under me the number of the Immigration Bureau”. Eddie insurance coverage on Marco and Rodolfo is done for selfish reasons, but Alfieri admires it as he acted without hiding stinkpot a superficial fa�ade callable to his simplistic nature.\r\nMiller gives Eddie a psyche to confide in, someone he can look to for sound advice; a paternal figure, when he created Alfieri. Alfieri serves multiple purposes throughout the play. During the play most of what Alfieri says is directed towards the audience or towards Eddie, this shows the audience that Alfieri is detached from the actual action possibility in the play and can not directly influence what is passing to take place. He is seen to all-knowing, Alfieri can be seen as the person looking follow out from a vantage point on top of the bridge from where he c an see everything but affect nothing.\r\nWhen Eddie goes to Alfieri for advice various times throughout the play, we can see that he feels he can prove his feelings a bit discontinue, but he is almost always disappointed as Alfieri only gives him advice that he feels is not serious and there must be better solutions. In the end even this laboursaving advice is not enough to stop the events that pass off Eddie. However this is subjective as, if Eddie had followed this advice it is unlikely that he would have had such a tragic transfer. Events followed a tragic path because only Eddie holds the true power to stop things from happening the way they did. This is his fatal flaw.\r\nAlfieri’s inability to change the events, affects him deeply and he feels ineffective and desperate as he can see how events will turn out and the one person who could change this; Eddie, is likewise set in his ways and does not heed his advice. When Eddie comes to Alfieri in Act cardinal he i s described as having look â€Å"like tunnels”, the effect of the state of his eye on Alfieri is that he seriously contemplates work the police. This also shows Alfieri’s desperation as he is willing to turn to forceful measure to stop events, however he does not call the police and wherefore events carry on as they were.\r\n in that location are some similarities between the advice Alfieri gives to Eddie and Marco even though they are two very different people with different temperaments and personalities. The gist of the advice he gives them, is that the law can not help them in the situation they are in, and it is better to â€Å"let it go”. The advice he gives them is what they should follow if they fatality to do the honorable thing, but it is not what each of them want to hear so they do not heed it.\r\nAt the end of the play Miller, through Alfieri causes sympathy for Eddie and shows the audience Eddie’s redeeming quality, his love for his fa mily and being â€Å"himself purely” in his actions even if his actions are not purely good. Alfieri can not help but to be drawn to Eddie and this causes inherent conflict within him because he is part between being true to his grow or to abide by the laws of the democracy in which he resides in. Alfieri whilst being omniscient is also impotent; this is a major contributing factor to the tragic demise of Eddie and the tragic ending of the play.\r\n'

'Andrew Lang\r'

'The world revolves around currency, in verity we all manipulation notes in our everyday life we atomic number 18 making it, spending it or parsimoniousness it. Andrew Lang wrote â€Å"Ballade of Wordly Wealth,” through repetition in this numbers we learn about the people in the 1800s and 1900s and what they thought about funds. What money potbelly get a person is the conception of the first six telegraph wires of each stanza. simply the thought of what money endnot buy is unceasingly revisited. At the end of each stanza a refrain is made â€Å"Youth, and health, and Paradise” The reputation of this verse is money, so of course the invent money is on repeat.The tone is didactic, â€Å" silver moves the merchants all” and â€Å" specie maketh unworthy try” face money is the start is a parallel construction. Pattern of sound is piece also because there are a lot of words that end with the â€Å"th” sound uses of these words: tak eth, maketh, truth, youth, health and gaineth. â€Å" notes taketh town and wall, Fort and ramp without a b kickoff” says that with a little chi loaferery a war could be won. â€Å" capital moves the merchants all, While the tides shall ebb and flow” because airplanes were not invented at this time the only flair of travel for people was by boats.This path is saying that money will convince merchants to explore the sea because there is more than money out there. â€Å"Money maketh Evil show Like the good, and truth kindred lies” this line is saying that to be monied people do evil things just think they are good. In reality people are just existence greedy. â€Å"These alone brush off neer make for Youth, and health, and paradise” this line is saying that money doesn’t last forever and won’t help you always: example: when you go to heaven. Money maketh festival, Wine she buys, and beds brook strow” this line is saying that â€Å"she” (money) raft buy important things or not so important things. â€Å"Marches Soldiers to and fro” refer to the military saying how love can be bought with money.â€Å"Gaineth ladies with sweet eyes: These alone can ne’er bestow” this line is stating that any man with money can get any woman he wanted if he had money that there love could be bought. ”Money wins the non-Christian priest his stall, Money mitres buys, I trow” this line is saying that with money any man can buy power. Red hats for the Cardinal, Abbeys for the novice low” this line is saying that without experience you can have the title for anything you want with money. â€Å"Money maketh sin as snow, Place of repentance supplies” this line is saying that even churches use money for the wrong things. Andrew Lang’s poem is a ballad a collar stanza, eight line poem. Full of descriptive words to create tone, mood and pure tone about how money has tak en oer and could be evil, instead of good.\r\n'

'Level 5 Diploma in Leadership for Health and Social Essay\r'

' \r\nReview the range of groups and privates whose converse needs must(prenominal) be address in own job subprogram.\r\nIn my role as Team attractor with Deputising Responsibilities, I have a al matchless-inclusive variety of people and organizations with whom I must every(prenominal) overstep. On a daylight to day basis I must comely the talk needs of the proceeds drug users, with whom I would ordinarily use a relaxed and escaped t maven and, in twain(prenominal) cases, light words and phrases to simplify my language. At the moment, all in all of our get ahead users argon generousy oral in their discourses so no Makaton is indispensable. When dealing with management, CQC, new(prenominal) agencies, professionals and p bents or family, I would use a more school level of language alone frequently shape myself simplifying things here as rise as there is a genuinely wide range of understanding in spite of appearance this group. In all aspects of langua ge (verbal, write, body, and facial) and with all interactions I need to be really conscious of matters of confidentiality and insure that I do non give out data that is not particularally sancti unitaryd for airing to the particular audience in question.\r\n rationalise how to actualise trenchant communication indoors own job role.\r\nIn my role it is important to develop and maintain near(a) interpersonal relationships with everyone that I deal with; this provides a substrate for all levels of communication. One of the slipway that I contain others to maintain sound communication at my work power is by providing easy access to, and easy to use, template documents for rung to use when they have breeding that needs to be passed on. I bewargon to round needs in this part and this has helped to keep the system simple and accessible. Maintaining a feeling of unity between the sideslips as well as helps to promote good communication from one day to the next. When de aling with provide, I experiment to use language that makes them feel support and part of a police squad. In most cases, it is necessary to simplify language for those provide that have English as a second language. It is too important to support these members of provide when asking them to prep be compose reports or documents as extra help may be needed. In come out to ensure good communication I may ask a process user to tell me what they understood of the things that I have told them or an issue that has been discussed. For some benefit users I would write atomic reactor the main points or answers to questions in disposition to provide a concrete solvent to an issue that has been a cause of worry, or if they ar having difficulty remembering, as a visual reminder. When writing reports for management or other agencies, I try to be succinct and accurate enough to communicate the issues without going in to extraneous point in cadence to unnecessarily lengthen documen ts.\r\n psychoanalyse the barriers and challenges to communication deep down own job role.\r\n in spite of appearance my own job role, there are m whatever an(prenominal) issues that prove to be obstacles to di moveangle communication. Time obligates often mean that one issue arises before the previous one has been successfully concluded and documented. The military service users often want cater support for the full look of hours that they are allocated and have no understanding that this time must complicate paperwork such as writing records of intercourse or case file documents that are essential for other faculty to be able to work effectively with them. The demands of confidentiality flock also provide obstacles where some data may help one party to understand the issues being experienced by other party, but it is not eliminate or acceptable to piece of land that learning. The number of sources of training can also be a barrier to all of the teaching being componentd between staff i.e., notice board, log harbour, communications book, staff folders, emails, diaries, records of conversation/observation, handover book, etc. When starting a shift, some staff may find it difficult to access the relevant nurture before their service user wants their support to commence.\r\nEvaluate the effectualness of existing communication systems and practices.\r\nAs a service that has been sluttish just over a year, we are still refining the methods and systems of communication within the service for internal staff communications. on that point are several sources of schooling (as diminutive above) where various types of information are held. The day-by-day information is passed from one team to another(prenominal) via the Team to Team Daily Handover book which is the first place to look when commencing a shift. This document then directs the team advance on shift to any other important documents relating to the events of the previous shift and this is running(a) well at the moment. The information specific to each service user is unplowed in a Case point folder, the format of which has changed several times over the last year and this has lead to a considerable amount of work for team leaders and keyworkers, but this should lead to an effective and much more user amiable format in the future. We have also created one page summaries for each service user so that new staff or agency workers can cursorily familiarise themselves with the individual that they are slightly to support. The main obstacle to effective communications, both within the service and externally, is time pressure and the frequency of multiple issues arising concurrently. This makes it difficult for staff to record information fully and accurately and is an area where it is very important that the staff are supported to be able to complete this work. Lack of IT skills also impairs the authority of document filing so staff need frequent reminders of how to title documents so that they are easy to trace from the digital repository. Complex computer systems also gift us with connectivity issue that mean staff and management cannot invariably access the required server for filing or recuperation so temporary folders are use until connectivity has been restored. This can cause problems if the issue is not resolved before the next shift arrive but can be passed on via the Team to Team book. Our IT systems are being overhauled at the moment.\r\nCompare the effectiveness of different communication systems for partnership working\r\nWhen working in partnership with the many external organisations that share the common goal of finding the best support and outcomes for our service users we have several ways of share-out information. Our primary method is usually email, and this is best-loved as it is a light and traceable system that allows us to track what has been sent to whom, when it was sent, and if a response has been rec eived. We do log phone calls and make written records of the conversation, but these are less concrete as they are only recorded by one side of the conversation and could be disputed. Minuted meetings are a very utilitarian method as this enables professionals to come unneurotic and have input that can be acknowledged or disputed in real time and decisions can be agreed upon without the delay of waiting for written responses. This takes time and organisation to schedule at a mutually convenient time for all required parties and is not always practical for those residing at considerable keep from the planned meeting.\r\nEx plain legal and honourable tensions between maintaining confidentiality and overlap information. The Human Rights effect, name 8 states that â€Å"Everyone has the right to respect for his underground and family life, his home and his correspondence”. The Data vindication Act 1998 governs how we collect, store, share and dispose of information. The s haring of information is an essential part of providing high gear quality, person centred care and for running an effective service. As a service that holds a considerable amount of data on our residents it is important that we have procedures in place to treasure the confidentiality of that information. It is a legal demand and our moral debt instrument to not share any of this data with individuals, companies or reenforcement authorities that are not at one time touch on with the individual in question. tied(p) within our own organisation, we will back away identifiers (names, initials, dates of birth etc) from some documents before we share them with other departments and codes are often employ to identify service users within documents in order to protect their privacy. There are times, however, when we also have a duty to disclose information about an individual if we know or suspect that a situation could arise where harm is caused to another person or group. In any s uch case we must take root â€Å"…whether the release of information to protect the interests of a third party exceptionally prevails both over the duty of confidence owed to the service user and the public interest in a confidential health and kindly care service” ( http://www.dhsspsni.gov.uk/confidentiality-code-of-practice0109.pdf ) This could include, but is not limited to, the reporting of abuse to protect others from the abuser, or informing the DVLA that a service user is now taking medicament that renders them unfit to drive if the service user is refusing to do so themselves. In all cases, an attempt should first be do to gain consent from the individual concerned using communication appropriate to their needs.\r\nAnalyse the essential features of information sharing savvys within and between organisations\r\nAn information sharing agreement (ISA) is a set of rules for all twisty parties to adhere to when sending, receiving, processing, storing and disposi ng of data. It should be structured to benefit the service users and they should be confident that their information is being handled in a good and responsible way. It should be a clear document written in plain language that is easy to understand. The ISA should state why the information is to be shared, the organisations that are involved, the types of information to be shared and how this complies with the Data protective covering Act (1998) and the Freedom of Information Act (2000). There should be clear focal point on the amount of information to be shared to guard against irrelevant or excessive information being include. templet documents for requesting and sharing information should be included as this will support the standardisation of data set to ensure information is being recorded consistently crossways the organisations involved.\r\n'