Automobile Industry China Essay

? China turned into the world’s biggest car maker and market in 2009 with yearly deals of about 14 million vehicles. The market keeps on extending in 2010. In the initial nine months of 2010, car creation arrived at 13. 08 million units, a 36. 1 percent expansion from a year back. The China Association of Automobile Manufacturers (CAAM) raised its conjecture for yearly deals to arrive at a record 17 million this year, coordinating the most noteworthy yearly absolute at any point came to in the United States. Industry development has been basically determined by rising household request originating from rising salaries, a developing white collar class, and by strong industry arrangements from the Chinese government. The Chinese car industry stays exceptionally divided. Also, Chinese focal government authorities dread that unchecked development of China’s automobile industry supported by neighborhood specialists could hurt the more extensive economy, and that abundance limit must be halted. Thus, the focal government keeps on pushing for mergers and acquisitions (M&A) in the car business which will bolster the rise of a couple of driving national organizations. China’s powerless R&D, residential development and structure capacities are key difficulties to its worldwide seriousness. With the government’s consolation, local firms have picked key associations with outside players, intending to encourage innovation move and improve household plan and building abilities. The Chinese government has executed various duty changes and endowments for car buys to empower mixture electric vehicles, unadulterated electric vehicles and conventional vehicles of little motor relocation. Beijing has bit by bit presented higher car outflow principles for new vehicles. Plans to create cross breed electric and unadulterated electric vehicle creation capacities are a piece of a more extensive, naturally cordial procedure to build up the automobile business. Market openings exist particularly in the accompanying zones: o Developing household advancement capacities (for example vehicle structure and designing, cross breed electric and unadulterated electric motors, electric engines and electric controls) o Productivity and quality redesign (e. g. motors, transmissions, electronic control frameworks and wellbeing frameworks) o Mergers and acquisitions (both in China and in Israel) o Clean transportation innovations 3 China’s Automotive Sector †Prepared for IEICI Updated November 2010 (Original April 2009) ? ? ? ? ? ? o Advanced assembling advances o Supply of basic car parts/frameworks to OEMs (e. g.electronic control frameworks and security frameworks) ? The accompanying car portions in China are viewed as profoundly serious and it will probably be hard for Israeli firms to enter the market except if they have an extraordinary upper hand: Fabric for seats/insides, seat covers, floor mats, shades, aluminum pass on throwing, elastic guards, electronic outfit links, reception apparatuses, speakers, electric starters, vehicle cleaning items, window films, A/C blowers, fuel and oil and air channels. 1. MARKET OVERVIEW ? ? China’s car showcase has the most development potential on the planet; per capita vehicle proprietorship is still amazingly low at 4. 78% and is relied upon to develop essentially. Local entire vehicle producers and car providers are still incredibly divided (government-upheld solidification is fast approaching sooner rather than later); challenges stay for household R&D and structure. With government sponsorships and expense motivating forces, China is expecting to build up an early balance in the creation of low-outflow and ecologically inviting autos. Segment imports flooded by 130% in the principal half of 2010; 60% of imported segments were drivetrains, motors or car body segments. ? ? 1. 1 GENERAL OVERVIEW Market Growth Primarily filled by residential and mostly by outside interest, China’s quickly extending car industry has outpaced the nation’s effectively noteworthy GDP development rates as of late. Locally, rising salaries and support from the Chinese government for the urban populace to acquire drivers licenses have prodded the interest for traveler vehicles. The blasting traveler vehicle showcase has prompted a taking off interest for car segments. Globally, car makers confronted with diminishing edges and productivity have searched out progressively moderate gracefully chain arrangements, looking to China as a likely hotspot for lower cost car parts. In contrast to created markets for traveler vehicles, where development sought after has been generally stale, China’s residential interest for new autos has soar in the previous years. Solid vehicle deals in China in 2009 pushed the auto market to the biggest on the planet, and 2010 is set follow the positive pattern. 4 China’s Automotive Sector †Prepared for IEICI Updated November 2010 (Original April 2009). Source: China Association of Automotive Manufacturers (CAAM) In the initial nine months of 2010, vehicle deals arrived at 13. 08 million units, up 36. 1% from a year back. More than 9 million of the all out deals were traveler vehicles and 3. 24 million were business vehicles. CAAM anticipated that the 2010 yearly deals will arrive at a record of 17 million units. It is generally accepted that China’s car advertise presently has the most development potential on the planet. China’s 2009 for every capita private vehicle possession was 4. 78%, far not exactly the 40% normal of created nations, and even not exactly other developing markets, for example, Russia, Brazil and India. This is a solid sign that China’s household advertise is a long way from being excessively soaked. As indicated by CAAM expectations, development in the automobile business will stay solid until 2020 with yearly development expected to reliably go from 13 to 15 percent. The complete number of vehicles will hop from 67 to 150 million. Deals in bigger tierone and level two urban communities just as provincial regions should continue developing at a fast pace throughout the following not many years and high development territories will move from eastern China to the focal and western areas. Market Players There are at present in excess of 100 entire vehicle makers and almost 8,000 car parts makers in China, found fundamentally in Southern, Eastern, and Northeastern and focal China (see the guide on the right). Together, the main ten traveler vehicle producers (seven of which are joint endeavors (JVs) make up practically 90% of China’s piece of the overall industry (see the table beneath). Almost every major worldwide vehicle maker has set up JV activities in China. 5 China’s Automotive Sector †Prepared for IEICI Updated November 2010 (Original April 2009). Top 10 Passenger Vehicle Manufacturers in China (2009) Rank 1 2 3 4 5 6 7 8 9 10 Source: CAAM Company SAIC1 FAW2 Dongfeng Chana (incl. Hafei) Beijing Auto Guangzhou Auto Chery BYD Brilliance Geely Others HQ Shanghai Changchun Wuhan Chongqing Beijing Guangzhou Hefei Shenzhen Shenyang Taizhou JV Partner GM, VW, Toyota, Mazda PSA, Nissan, Honda Ford, Mazda, Suzuki Hyundai Daimler Honda, Toyota, Isuzu, Fiat N/A N/A BMW, Toyota N/A Sales (Unit) 2,705. 5K 1,944. 6K 1,897. 7K 1,869. 8K 1,243. 0K 606. 6K 500. 3K 448. 4K 348. 3K 329. 1K 1,750K Market Share 19. 83% 14. 25% 13. 91% 13. 70% 9. 11% 4. 45% 3. 67% 3. 29% 2. 55% 2. 41% 12. 84% Import Positive interest development for vehicles and parts has caused household industry advancement, however has prompted expanded consideration from driving outside car makers anxious to venture into the quickly developing business sector. Remote car makers have likewise been empowered by lower import duties, which have been brought down for entire vehicles from 70-80% to 25% since China joined the World Trade Organization (WTO). Import taxes on Semi-Knocked-Downs (SKDs) and Complete-Knocked-Downs (CKDs) have dropped from half to 25%, while import levies on vehicle parts have dropped from 15% to 10%. 1 2 Shanghai Automotive Industry Corporation First Auto Works 6 China’s Automotive Sector †Prepared for IEICI Updated November 2010 (Original April 2009) China’s car import development was eased back because of more vulnerable interest brought about by the worldwide financial emergency of 2009. Yearly complete import were USD 33. 1 billion out of 2009, speaking to a year-onyear increment of just 5. 34%. Helped by government motivating force projects and China’s monetary recuperation, China’s auto import complete bobbed once more from a drowsy 2009, flooding by 130% to USD 27. 22 billion in the primary portion of 2010. Imported European extravagance vehicles had a noteworthy 237. 2% expansion in 2010 contrasted with a similar period the earlier year. China’s car segment imports developed to USD 12. 7 billion in the principal half of 2010, a 90% expansion over a similar time of 2009. Drivetrain, motor and car body parts represented over 60% of the complete segment imports (see graph). Over 80% of the imported segments originated from Japan, German, Korea, and the United States. The primary gatherings of imported car segments to China can be partitioned into three classes: ? Japanese and Korean OEMs and Tier I providers: Generally these organizations watch out for just use providers from their nation of cause. For instance, Toyota ordinarily sources parts from Japanese JVs or Wholly Owned Foreign Enterprises (WFOEs) on the terrain, or legitimately imports from Japan. Such practice will in general outcome from exacting quality prerequisites, social similarity and calculated concerns. German OEMs and Tier I providers: These organizations normally import segments in the zones where Chinese providers are frail (e. g. security frameworks for very good quality traveler vehicles). The US and French OEMs working in China have not expanded their car segment imports as much as their friends for various reasons. US OEMs have steadil

Creative writing Essay Example | Topics and Well Written Essays - 1500 words

Exploratory writing - Essay Example The Introduction of the article fittingly distinguishes the highlights and components of the illness being referred to, GSD. The writers of the article fittingly set up the job of the sickness with regards to the network and society nearby. The sociological and organic components of the sickness is talked about altogether and three significant factors are presented: These issues are talked about fundamentally and suitably through the assessment of existing information and other logical diaries. This is legitimate in light of the fact that the usage of auxiliary sources expand on dependable and built up sources and it is applied properly to give significant direction to a current research (MacFarlene, et al., 2014). The basic audit of ideas and speculations in the presentation give route for the definition of a theory. A theory is a conditional proclamation that is tried for its honesty and misrepresentation in an examination (Lam, 2013). In this paper, the essayist appear to offer a dubious expression which doesn't appear to give an exceptionally solid speculation that can be utilized as a reason for legitimate theorisation. It expresses that â€Å"There will be a critical relationship between chose segment factors and hazard elements of cholilithiasis†. In image terms the investigation is to assess the connection between segment factors and dangers of GSD. The free factors are the segment factors while the reliant factors are dangers of GSD. In any case, they are not obviously characterized and adjusted properly giving a few inclinations of haphazardness and discretion in the inevitable end. The investigation uses a cross-sectional examination technique. A cross-sectional examination is an illustrative report in which ailment and introduction statuses are estimated at the same time in a given populace (Kern, et al., 2013). This accompanies some intrinsic

World History Argumentative Essay Topics

World History Argumentative Essay TopicsWorld history argumentative essay topics can make or break your essay. It is no easy task, but if you know how to use world history argumentative essay topics properly, it will be easier for you to score an excellent grade.There are some things you should consider before writing your essay. You need to consider what the topic of your essay is, as well as your own personal experiences. Many people assume that because an essay is written about the United States, all students write about the United States. You should also realize that not all students write about the United States.In order to create a meaningful and interesting essay, you should always consider your world history argumentative essay topics through a historical perspective. If you want to create a quality essay, you should also be aware of how certain countries are portrayed in the world. You may think that you are simply making a point about how certain countries act and react, bu t in reality, you are merely stating a fact.Although it may seem like a big challenge, you should give some thought to the historical perspective when writing your essay. You should look at each country individually and try to focus on each country's historical and political movements and events. This way, you will gain a better understanding of the facts, and you will also increase your chances of getting an excellent grade.World history argumentative essay topics should also include facts and statistics as part of your essay. Although it may seem like a lot of work to research a particular fact, many times you are able to gather all of the facts you need without actually doing any research.Another way to gather the facts you need to include is to research the information online. Just because you have a great, detailed essay doesn't mean you can rely on a blog post. You need to find an independent source of the information you need, and then you can simply integrate that informatio n into your essay.Do your best to write different world history argumentative essay topics throughout the semester. This way, you can introduce each one in class, and you can further expand on that topic later on. You can also write a different essay for each section of your class, so that you can put your different topic ideas into a cohesive whole.Make sure that when you write your essay topics, you are focusing on the entire picture. You should never forget about the other countries in the world, as well as the government of each country.

Risk And Return Behavior Of Islamic Equity Investments - Free Essay Example

Sample details Pages: 20 Words: 6119 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Islamic equity investments deal with the application of Shariah in stock selection in fund management. Islamic equity investment is a new and emerging concept in fund management and posed a slow growth compared with a fast paced growth in Islamic fixed income à ¢Ã¢â€š ¬Ã…“Sukukà ¢Ã¢â€š ¬? markets and Islamic banking in the current decade. However Islamic equity investments contain a significant potential to generate above average risk adjusted returns than conventional equity investment as discussed in this paper. Don’t waste time! Our writers will create an original "Risk And Return Behavior Of Islamic Equity Investments" essay for you Create order The thesis argues about the risk returns behavior of Islamic equity investments by analyzing the risk return behavior of Karachi Meezan Index, an Islamic index traded at Karachi stock exchange, over the period of two and a half years. Karachi Stock Exchange 100 index and Karachi Stock Exchange 30 index was used as benchmarks to find out if there are any significant differences in the returns volatility of KMI30 and KSE 100. The complete period was also divided into bull and flat periods and each period is analyzed to further augment the research. Our findings provide strong evidence to reject the notion that Shariah Compliant investment perform poorly than conventional equity investments. In fact our finding supported the assumption that Shariah Compliant Equity Investments can deliver better returns than conventional investments given the same level of risk. Chapter 1 Introduction In the past few years there has been remarkable growth in the field of Islamic finance. New products are being developed on a consistent basis in capital markets which comply with the Shariah. The main distinguishing feature of Shariah Compliant Stocks is their low risk characteristics which has induced many risk averse investors into investment in Shariah complaint stocks and equity funds. According to Ernst Youngà ¢Ã¢â€š ¬Ã¢â€ž ¢s 2010 Islamic funds investment report, currently there are approximately $52 billion fund assets under management in the Islamic fund industry which is still a small proportion of the total assets under global fund management which are worth $22 Trillion in 2010. Total Shariah compliant assets now exceed $1 trillion worldwide because of the fast faced growth in Islamic finance during the current decade. Currently Islamic funds only constitute about 5.5% of total Islamic finance investments which signifies the potential of growth in this industry in co ming years. From July 2007 to Nov 2009, MSCI World Islamic Index outperformed the MSCI World Index Standard Core in terms of variability of returns which shows that Shariah complaint stocks generate more returns in high volatility period compare to conventional stocks. In an Islamic equity fund, the amounts are invested in the shares of Shariah complaint stock companies. The profits are mainly achieved through the capital gains by purchasing the shares and selling them when their prices are increased. Profits are also achieved by the dividends distributed by the relevant companies. It is obvious that if the main business of a company is not lawful in terms of Shariah, it is not allowed for an Islamic Fund to purchase, hold or sell its shares, because it will entail the direct involvement of the shareholder in that prohibited business. In September 2008, Karachi Stock Exchange with the collaboration of Meezan Bank launched a new index called Karachi Meezan Index comprising o f 30 companies. The distinguishing characteristic of this index is its Islamic nature in which selected companies will be fully Shariah-complaint. Companies will be selected in the index based on their liquidity in the stock market along with compliance with Shariah principles. These Shariah principles are formulated by the Shariah advisory council of Meezan bank which comprises distinguishing Islamic scholars. The objective of KSE-Meezan Index (KMI) is to serve as a gauge for measuring the performance of Shariah compliant equity investments. It may also act as a research tool for decisions in strategic asset allocation according to Shariah besides tracking performance of Shariah compliant equities; its construction will increase investor trust and enhance their participation. Stock Screening Requirements for KMI-30 Index Shariah compliance of stocks shall be done under the guidance of qualified and reputed Shariah experts. For stocks to be à ¢Ã¢â€š ¬Ã…“Shariah compliantà ¢Ã¢â€š ¬?, it must meet ALL the six key tests given below. Business of the Investee Company: Core business of the company must be HALAL and in-line with the dictates of Shariah. Hence, investment in securities of any company dealing in conventional banking, conventional insurance, alcoholic drinks, tobacco, pork production, arms manufacturing, pornography or related un-Islamic activities is not permissible. Debt to Total Assets: Debt to Asset ratio should be less than 40%. Debt, in this case, is classified as any interest bearing debts. Zero coupon bonds and preference shares are, both, by definition, part of debt. Non-compliant Investments to Total Assets: The ratio of non-compliant investments to total assets should be less than 33%. Investment in any non-compliant security shall be included for the calculation of th is ratio. Non-complaint Income to total revenue à ¢Ã¢â€š ¬Ã¢â‚¬Å" Purification of Non-compliant: income the ratio of non-compliant income to total revenue should be less than 5%. Total revenue includes Gross revenue plus any other income earned by the company. This amount is to be cleansed out as charity on a pro rata ratio of dividends issued by the company. Illiquid Assets to Total Assets: The ratio of illiquid assets to total assets should be at least 20%. Illiquid asset, here, is defined as any asset that that Shariah permits to be traded at value other than the par. Net Liquid Assets to Share Price: The market price per share should be greater than the net liquid assets per share calculated as: (Total Assets à ¢Ã¢â€š ¬Ã¢â‚¬Å" Illiquid Assets à ¢Ã¢â€š ¬Ã¢â‚¬Å" Total Liabilities) divided by number of shares. *Courtesy of Karachi Meezan Index Brochure retrieved from Karachi Stock Exchange Website Rationale of the Study Islamic equity investment funds pose immense growth potential in the future mainly on account of the following reasons: It attracts risk averse investors who previously ignore equity investments because of Islamic Equityà ¢Ã¢â€š ¬Ã¢â€ž ¢s low risk characteristics It attracts new Muslim investors who previously were wary of investing in stock markets because of non-Shariah compliance Therefore a study needs to be conducted which examines the risk return behavior of Shariah complaint stocks so that investors and general people will have a better idea about the risks profits which are inherent in Shariah complaint shares. Research Questions The study will help in answering the questions such as: Is there a difference in returns of KMI30 and KSE 100 indices? Is there a difference in the volatility of KMI30 and KSE 100 indices? Is KMI30 index giving more or less risk adjusted returns compared to KSE 100 index? How much variation is explained by KSE 100 index in returns of KMI30 index? Limitations of the Study KMI30 index represents the risk return behavior of only 30 blue chip Shariah compliant stocks. In order to have a better comparison with the KSE 100 index, a portfolio consisting of all the stocks from KSE 100 which comply with Islamic screening principles should be constituted and the return volatility attributes of this portfolio should be compared with KSE 100 index because a difference in returns between both indices can be because of superior judgment in the selection of stocks in KMI30. Chapter 2 Literature Khan (1998) studied the modern practices in commodity, currency and corporate stock trading in the light of Islamic economic framework and stated that under Islamic principles, Mudarabah or Shirakah certificates can be traded in stock exchanges. However there is no concept of preferred equity in Islamic finance as it Riba which is forbidden under Islam. Khan stated that liability towards losses of the organization need to be met which may have accumulated over a period in order to sell or disinvest shares of that organization which implied that each shareholder has a liability for cumulative past losses as well as current losses in proportion to the capital invested. Khan (1998) proposed a model of stock valuation which incorporates the Islamic principles that intrinsic value of shares should provide the prospective investor a fair amount of information about past performance of organization. Iv = intrinsic value of shares Pv = par value of shares Ri = Profits, Reserves et c L = losses S = No. of Share Lewis (2010) examined the current and historic structure and performance of Islamic investment funds and found out that Islamic investments have grown quickly over the past few years and now there are approximately 650 Islamic funds operating globally. Lewis also discovered that in the past Islamic funds have focused more on negative forbidden screening principles instead of focusing on both the negative and positive screening methodologies like socially responsible funds that focus primarily more on investments in companies which play a part in human welfare. However these Socially Responsible Investments (SRI) funds performed slightly poor compared to Islamic funds because Islamic funds invested a significant portion in energy companies who enjoyed profitability because of rising oil prices, SRI funds do not invest large portions in fossil fuel energy companies primarily because of their futile side effects on environment. Nik Maheran and Masliza (2008) analyzed the performance of Islamic mutual funds at Kuala Lumpur Stock Exchange to investigate if these funds underperform or over perform the market index using average return on mutual funds, standard deviation of weekly returns, coefficient of variation, Treynor and Sharpe index. They found out that most of the funds achieved a lower return than market from the period 2002 until 2006. However in terms of risk level Islamic mutual funds showed less risky behavior compared to the market since the betas of Islamic mutual funds was less than one. Rennebook, Horst and Zhang (2007) critically reviewed the available literature on socially responsible investments and concluded that a primary reason for low returns from socially responsible funds could be the multi-task nature of portfolio managers who pursue both financial and social objectives. They also found out that if investors avoid investments in unethical/asocial businesses, than they may require a low rate of r eturn than other investors who do not show any similar type of preferences. Hussein (2007) analyzed the returns of FTSE Global Islamic index and Dow Jones Islamic Index from 1993 till 2004 and compared them with the returns of Dow jones world index and FTSE All world index. He found out that application of Shariah screening doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t adversely impact on Islamic indices performance as Islamic indices performed as well as their counterparts over the entire period. Hussein (2007) stated that Islamic indices yield statistically positive returns in bull market period though Islamic indices underperform the all world indices in the bear period and in the long run have a superior performance compared with counterparts in entire market period. Abdullah, Hassan and Mohammad (2007) compared the performance of Islamic and conventional mutual funds in Malaysian capital market with the help of Sharpe index, adjusted Sharpe index, Jensen Alpha, timing and selective ability an d found out that Islamic funds are less risky than conventional funds and à ¢Ã¢â€š ¬Ã…“both Islamic and conventional funds have diversification levels which are less than 50 per cent of the diversification level of the market portfolioà ¢Ã¢â€š ¬?. They discovered that Islamic funds performed better than conventional funds during bearish periods while conventional funds performed better than Islamic during bullish periods and concluded that Islamic funds can be used as hedging tools. Hussein (2005) compared the performance of Dow Jones Islamic market index and FTSE Global Islamic index and benchmarked it against their counterparts, Dow Jones World index and FTSE Global Index respectively, using parametric t-statistic and non-parametric signed rank test. Monthly returns data had been used ranged from 1996 2004 and the periods had been divided into bull and bear return phases to make more meaningful conclusions from results. Hussein (2005) found out that Dow Jones Islamic Index outperformed its counterpart in the entire period (1996 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 2004) and bull period. The mean monthly return of Dow Jones World Index was higher than the DJ Islamic index over the entire bull period which indicated that the Islamic index has greater volatility in comparison with DJ world index. Contrary to this, Dow Jones Islamic index fails to maintain its better performance over the bear market phase where the DJ world index gives better returns. In case of FTSE indices, FTSE Global Islamic index outperforms FTSE All world index in the entire and bull periods. However FTSE Islamic index underperforms FTSE world index over bear period. Hussein (2005) also found out that the beta of both Islamic indices is greater than one and higher than their counterparts which imply that both Islamic indices are riskier than their counterparts. Hence Hussein (2005) stated that the application of Shariah screening principles has no adverse effect on Islamic indices performance over t he years and concluded that Shariah investing offer superior performance compared to unscreened portfolios. Albaity and Ahmad (2008) examined the performance of KLSI, A Shariah Compliant Index at Bursa Malaysia, and benchmarked it against KLCI which is a conventional stock market index at Bursa Malaysia using measures of risk adjusted returns and found out that KLCI is outperforming KLSI. Albaity and Ahmed (2008) also found out that KLCI has a higher beta as evident from conventional Non-Islamic indices and that in the short run both indices move in the same direction and tend to cause each other. Hence they concluded that there is no significant difference in the returns and movements of both indices. Hakim and Rashidian (2002) applied Islamic equity screening principles on Wilshire 5000 index and created a Shariah Compliant Portfolio and compared the return characteristics of the created Wilshire Islamic portfolio and Dow Jones Islamic market index portfolio with the parent Wilshire 5000 index and found out that the reduced diversification characteristic of newly created portfolio has not adversely affected its performance when compared with parent Wilshire 5000. Hakim and Rashidian (2002) examined the causality between the Islamic index, the Wilshire 5000 and the Tbill rate and found out that the Islamic index is influenced by factors independent from the broad market or interest rates which are contrary to the widely accepted notion that Dow Jones Islamic Index exhibits high correlation with broad market. They concluded that such correlation is temporary and false Sauer (1997) measured and analyzed the average monthly returns and variability, Jensen Alpha and Sharpe performance of the Domini 400 Social index portfolio and benchmarked it against the performance of two unrestricted portfolios (SP 500 and CRSP value weighted market indexes). Sauer (1997) discovered that the application of socially responsible strategy in stock selection does not impa ct the investment performance adversely. He concluded that the potential performance costs of implementing socially responsible criteria, as represented by the performance of Domini social index are negligible. Sauer (1997) also stated that the performance of Domini Social equity Mutual fund compares favorably to the performance of Vanguard SP 500 index. Bauer, Koedijik and Otten (2004) analyzed the performance of 103 German, UK and US ethical mutual funds and found no indication of substantial difference in return behavior between ethical and conventional mutual fund returns after controlling for factors like book to market and size. Bauer, Koedijik and Otten (2004) also concluded that ethical mutual funds are typically less exposed to market variability compared to conventional funds. Hamilton, Jo and Statman (1993) studied 32 socially responsible mutual funds and compared their returns with a portfolio of 177 conventional mutual funds. They found out that market do not pric e social responsibility characteristics so investors can expect to lose nothing by investing in socially responsible mutual funds; social responsibility factors have no effect on expected stock returns or companiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ cost of capital. Derigs and Marzban (2009) analyzed SP, DJIM, FTSE, MSCI and HSBC Shariah Complaint indices and stated that current Shariah compliant strategies result in much lower portfolio performance than portfolios without considering Shariah Compliance. They suggested that the return from Shariah complaint strategies can be increased by making Shariah compliance an attribute of portfolio constructed rather than measuring compliance on as asset level. Derigs and Marzban (2009) argued, à ¢Ã¢â€š ¬Ã…“Funds are investment vehicles, which are financially independent of the institutions that establish them.à ¢Ã¢â€š ¬? Therefore, a fund takes the form of an independent company, such as a limited liability company (Norman, 2004), in which investors a ct as shareholders. So they proposed that with respect to compliance a fund which itself invests in multiple companies has to be evaluated in the same way as a conventional independent company. Hassan and Antoniou (2006) examined the potential impact of Islamic screening restrictions on investment performance by comparing the performance characteristics of a diversified of Islamic screened stock indices with conventional benchmarks (Data stream Global Index) and the degree of correlation and volatility in price movements between both indices. Hassan and Antoniou (2006) concluded that the impact of stock screens is closely related to the performance of stock markets and further stated that any argument that Islamic equity investments are less profitable than conventional types of investments is questionable which is supported by relatively major differences between Sharpe and Treynor measures and significant positive Alpha over the positive returns period when the Dow Jones Islami c Market Index outperformed the Data stream Global Index. Chapter 3 Methodology This section emphasizes the research methodology and the type of data that has been used in this research. The research is quantitative in nature as statistical and financial models are being used to test the STOCK INDEX time series for volatility and return. The data which is going to be used in the research is secondary in nature and in the form of time series. Daily index values of Karachi Meezan Index (KMI-30), KSE-30 index and KSE-100 index from Karachi stock exchange are being used as secondary data from December 15, 2008 till March 11, 2011. Daily logarithmic returns of all indices are being calculated such that: Where is the raw return for index i for the time t, refers to the price of index i at time t, and is the price of index i at time t-1. A descriptive statistical analysis was performed on the calculated daily logarithmic returns using to calculate mean, standard deviation, standard error, median, variance, kurtosis, skewness, maximum and minimum values of al l three indices for the whole period from December 15, 2008 to march 11, 2011. Also Geometric mean for all three indices was also calculated as it contains the effect of compounding. Coefficient of variation is calculated to measure the variation in each index given its return. A correlation matrix was being calculated using excel spreadsheet to find the degree of correlation between KMI-30, KSE-30 and KSE-100 indices. A linear regression analysis has been performed using the returns of KMI-30 index as dependent variable and returns from KSE-100 as the independent variable to estimate the coefficient of determination (R-Square) and beta of KMI-30. Another linear regression was performed using KSE-30 as the dependent variable and KSE-100 as the market independent variable to estimate the beta of KSE-30 and coefficient of determination. The regression equations were as follows: Where is the intercept, is the beta of the stock index, and are the returns on KMI30 and KSE30 indices respectively and is the return on KSE100 regarded as the return on the stock market. Risk ratios which are used in the analysis to compare the risk reward profile of KMI30 with KSE 30 and KSE 100 are Alpha, Beta, Standard Deviation, R-Squared, Sharpe Ratio and Treynor ratio. A paired t-test was performed to check the hypothesis of difference in means of KMI30 and KSE 100 index because nearly all of the stocks of KMI30 are part of KSE 100 hence dependent. Also F-test was performed to check the difference in variances of KMI30 and KSE 100 indices assuming that the returns from both indices are normally distributed. The whole period from December 15, 2008 to March 11, 2011 is than divided into two bull periods and one relatively flat period to find out the risk-return profile of KMI30 and KSE 100 in these periods. The first bull period is from January 15, 2009 till October 15, 2009 while the flat period is from October 15, 2009 till October 15, 2010. The second bull period is considered from October 15, 2010 to January 15, 2011. A descriptive analysis was again performed on these bull and flat periods along with similar paired t-tests, F-tests, linear regression and correlation matrices. Sharpe ratio, Treynor ratio, Jensen Alpha, Beta and S. Deviation were also calculated for these bull and flat periods. Chapter 4 Results Analysis Descriptive Statistical Analysis Descriptive analysis shows that KMI30 index showed very good daily mean returns of 0.1014% since Dec 15, 2008 till March 11, 2011. KMI30 index started in September 2008 and considering the mean returns, it is a very good performance by a stock exchange index especially when comparing with geometric mean of KSE 30 returns of 0.0227% and KSE 100 daily returns of 0.0451% in the same period. The standard deviation of KMI30 index daily returns was 1.5051% which is considerably less than its counterpart KSE 30 index however more than the S. Deviation of KSE 100 index as expected because of large diversification effects of stock returns in KSE 100. The coefficient of variation for KMI30 index is 15.97 compared to 33.36 for KSE 100 and 74.593 for KSE 30 which clearly indicates that KMI30 is less risky when compared to both other indices per unit of return. The excess kurtosis for KMI30 for the complete period is 2.58 compared to 2.13 for KSE 100 and 2.29 for KSE 30 which shows that all thr ee indices are more peaked than normal distribution and are leptokurtic. All three indices are negatively skewed which shows that most of the returns are negative. As indicated by higher standard deviations of KSE 30 index, its maximum and minimum return are greater than KMI30 maximum and minimum returns. The maximum one day return for KMI30 during the whole period was 5.3% while the minimum return was -5.19%. From January 15, 2009 to October 15, 2009, KSE showed a bullish trend. The geometric mean of KMI30 index daily returns during this first bullish period was around 0.31% much higher than 0.24% of KSE 100 and 0.28% of KSE 30. However the standard deviation of KMI30 index is 1.93% less than 1.88% of KSE 100 and 2.35% for KSE 30. This shows that not only KMI30 beat KSE 100 and KSE 30 in returns but also remained less volatile over the bullish period when compared to KSE 100 and KSE 30. The kurtosis of all three indices is slightly over 3 (Excel displays Excess Kurtosis) whic h shows that all three indices are mesokurtic and have a kurtosis equal to that of normal distribution. KMI30 showed a slight negative skewness of -0.0195, while KSE 100 showed positive skewness of 0.04058 in this bullish period. From October 15, 2009 to October 15, 2010, KSE showed a relatively flat period of returns with KMI30 index showing a mean geometric return of 0.0498% while KSE 100 and KSE 30 showed a geometric return of 0.017% and à ¢Ã¢â€š ¬Ã¢â‚¬Å"0.0249% respectively. The KMI30 again outperformed KSE 100 and KSE 30 in returns over this flat period. KSE 30 had negative mean returns in this period. KMI30 also showed low standard deviation of 1.088% compared to 1.1049% of KSE 100 and 1.3866% of KSE 30. Hence KMI30 again outperformed KSE 30 and KSE 100 index in this relatively flat period in terms of returns and low volatility. KMI30 had an excess kurtosis of 2.18 more than 1.79 for KSE 100 but less than 2.26 of KSE 30. Hence all three indices have leptokurtic distributio n with high peaks than normal distribution. KMI30, KSE 100 and KSE 30 all showed negative skewness in this flat period. From October 15, 2010 till January 15, 2011, KSE showed a relatively bullish trend with KMI30 showing a daily return geometric mean of 0.36% against 0.3% by KSE 100 and 0.33% by KSE 30 index. However KMI30 index showed a higher daily standard deviation of 0.86% compared to 0.73% of KSE 100. KMI30 also showed a more leptokurtic distribution compared to KSE 100 as the excess kurtosis of KMI30 was around 0.497 compared to 0.262 for KSE 100. During this bullish period all three indices showed a positive skewness with impressive returns in a short span of time. Over the whole period, from December 15, 2008 to march 11, 2011, KMI30 showed impressive annualized returns of 28.825% compared with KSE 100 and KSE 30 which showed annualized returns of 11.9367% and 5.85% respectively. The annualized standard deviation for KMI30 index was a little higher than KSE 100 but l ower than that of KSE 30. Also the total return over this two and a half year period by KMI30 was quite impressive and 2.5 times more of KSE 100. KMI30 had a total return of 75.11% from Dec 15, 2008 to March 11, 2011. Sharpe ratio is only positive for the KMI30 because the other two indices had returns less than 12 month Treasury bill rate. Jensenà ¢Ã¢â€š ¬Ã¢â€ž ¢s alpha for KMI30 was 16.8687 which indicated the average return on KMI30 over and above the CAPM predicted return of 11.9566%. KMI30 also had a beta lower than one which shows that KMI30 is less volatile than the overall market. KSE 30 had a beta of greater than one showing that ità ¢Ã¢â€š ¬Ã¢â€ž ¢s more volatile than the market KSE 100 index. Correlation matrix shows a strong correlation of 92.933% of KMI30 and KSE 100 over the whole period from December 15, 2008 to March 11, 2011. KSE 30 showed a less strong correlation of 87.48% in the same period with KSE 100. In the first bullish period, KMI30 however had a rathe r less strong correlation with KSE 100 compared to the whole period correlation described above. In the flat period from Oct 15, 2009 till Oct 15, 2010, KMI30 had a very strong correlation with KSE 100 index. In second bullish period, from Oct 15, 2010 to Jan 15, 2011, KMI30 again had a relatively less strong correlation with KSE 100 as already happened in first bullish period. It looks like KMI30 is showing less strong correlation with KSE 100 in bull markets and very strong correlation with KSE 100 in relatively flat periods which shows that KMI30 shows returns which are less correlated with market in bull periods and give more correlated returns in flat market periods. In both bull periods, Jan 15, 2009 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Oct 15, 2009 and Oct 15, 2010 à ¢Ã¢â€š ¬Ã¢â‚¬Å" January 15, 2011, KMI30 outperformed KSE 100 and KSE 30 index with impressive margins. KMI30 gave a total return of 81.68% in the first bull period, 13.24% in the flat period and 23.67% in the second bull perio d. KSE 100 gave total returns of 57.3%, 4.34% and 19.92% in the same periods. KMI30 also showed a relatively same standard deviation as the KSE 100 except for the second bull period when there was a large difference in S. Deviation of KMI30 and KSE 100 returns. What this means is that KMI30 is giving higher returns than KSE 100 while having the same risk as KSE 100 also evident by Sharpe ratio. In first bull period, KMI30 had a beta of 0.927 compare to 1.077 of KSE 30. In the flat period, KMI30 had a beta of 0.948 while KSE 30 had a beta of 1.06. In the second bull period, KMI30 and KSE 30 showed an irregular trend when the beta for KMI30 increased over 1 while beta for KSE 30 dropped less than one. Regression Analysis A regression analysis was performed on the daily returns of KMI30, KSE 30 and KSE 100 for the complete period to explain the variation in the returns of KMI30 and KSE 30 index by using KSE 100 as the independent market index. The regression equations are as follows: Equation 1 Equation 2 The R-Square for the first model of KMI30 returns come out to be 86.366% which tells us that 86% of the variation in KMI30 index is caused by KSE 100 index. The R-square for the second KSE 30 model was 77% which shows that KSE 100 causes more variation in returns of KMI30 than KSE 30 index. The intercept of first equation is 0.000523179 which shows that when the daily market return is zero, than KMI30 has a daily return of 0.0523179%. The slope of the first equation, beta of KMI30 index, tells us that a one percentage change return in KSE 100 index causes a 0.9752 percentage change return in KMI30 index which shows low volatility in KMI30 compared to KSE 100. The slope and intercept for the KSE 30 model are 1.1018 and -0.0216% respectively which indicates that KSE 30 is more volatile than KSE 100 (has a beta higher than 1) and that a zero return from market will causes a -0.0216% daily return fall in KSE 30 index. Hypothesis testing The first hypothesis was to test that whether there are any significant differences in daily returns of KMI30 and KSE 100 indices for the whole period from December 15, 2008 to March 11, 2011. Since all the stocks which are part of KMI30 index are also a part of KSE 100 index which indicates that both samples are dependent hence paired t-test was employed to test the differences between returns of both indices. The null and alternative hypotheses are given as: Ho: The difference in mean daily returns of KMI30 and KSE 100 index for the period from December 15, 2008 to March 11, 2011 is equal to zero H1: The difference in mean daily returns of KMI30 and KSE 100 index for the period from December 15, 2008 to March 11, 2011 is not equal to zero The paired t à ¢Ã¢â€š ¬Ã¢â‚¬Å"test was performed on a 5% level of significance with 552 degrees of freedom. The calculated t statistic was 2.310548072 which was greater than the critical value of 1.96. Hence the null hypothesis was rej ected and the conclusion was that the difference in mean daily returns of KMI30 and KSE 100 returns is different from zero. The second hypothesis tested whether there are any significant statistical differences in returns of KMI30 and KSE 100 indices during the first bullish period from January 15, 2009 to October 15, 2009. The same paired t test was employed to test the difference in returns in this bullish period using a significance level of 5%. The null and alternative hypotheses are given as: Ho: the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is equal to zero H1: the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is not equal to zero The calculated t-statistic was 1.2773207 less than the critical value of 1.972 at 5% level of significance with 187 degrees of freedom. Hence the null hypothesis was failed to re ject and it was concluded that there is no difference in the returns of KMI30 and KSE 100 indices during the first bullish period from January 15, 2009 to October 15, 2009. The third hypothesis tested any significant difference in returns of KMI30 and KSE 100 indices during the flat period from October 15, 2009 to October 15, 2010 at 5% level of significance with 249 degrees of freedom using the paired t test. The null and alternative hypotheses are given as: Ho: the difference in mean daily returns of KMI30 and KSE 100 index for the flat period from October 15, 2009 to October 15, 2010 is equal to zero H1: the difference in mean daily returns of KMI30 and KSE 100 index for the flat period from October 15, 2009 to October 15, 2010 is not equal to zero The calculated t statistic was 1.72232 and the critical value was 1.96 at 5% level of significance. The null hypothesis was failed to reject as the t-statistic was less than the critical value in this two tail test. The fourth hypothesis tested whether there is any significant difference in the returns of KMI30 and KSE 100 indices for the second bullish period from October 15, 2010 to January 15, 2011 at 5% level of significance with 58 degrees of freedom. The paired t test was used since the samples were dependent and the null and alternative hypotheses are as follows: Ho: the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from October 15, 2010 to January 15, 2011 is equal to zero H1: the difference in mean daily returns of KMI30 and KSE 100 index for the bullish period from October 15, 2010 to January 15, 2011 is not equal to zero The calculated t statistic was 1.0557936 less than the critical value of 2.00171 at 5% level of significance with 58 degrees of freedom. Hence the null hypothesis was failed to reject and there was no difference in the returns of KMI30 and KSE 100 indices in the second bullish period from October 15, 2010 to January 15, 2011. The fifth hypothesis tested whether there is a difference in variances of KMI30 and KSE 100 index for the whole period from December 15, 2008 to March 11, 2011. An F-test of variances was performed at 5% level of significance with 552 degrees of freedom. The null and alternative hypothesis is as follows: Ho: the difference in daily variances of KMI30 and KSE 100 index for the bullish period from December 15, 2010 to March 11, 2011 is equal to zero H1: the difference in daily variances of KMI30 and KSE 100 index for the bullish period from December 15, 2010 to March 11, 2011 is not equal to zero The calculated F-Statistic was 1.091464553 less than the critical value of 1.150434753 at 5% significance level with 552 degrees of freedom. As a result, the null hypothesis was failed to reject and it was concluded that there was no significant difference in variances of KMI30 and KSE 100 indices at 5% level of significance. The sixth hypothesis tested whether there was any s ignificant difference in the daily variances of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009. An F-test of variances was performed at 5% level of significance with 187 degrees of freedom. The null and alternative hypothesis is as follows: Ho: the difference in daily variances of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is equal to zero H1: the difference in daily variances of KMI30 and KSE 100 index for the bullish period from January 15, 2009 to October 15, 2009 is not equal to zero The calculated F-Statistic was 1.2773207 less than the critical value of 1.972731 at 5% significance level with 187 degrees of freedom. As a result, the null hypothesis was failed to reject and it was concluded that there was no significant difference in variances of KMI30 and KSE 100 indices at 5% level of significance in the first bull period from January 15, 2009 to October 15, 2009. The seventh hy pothesis test was performed to find out whether there any differences in the variances of KMI30 and KSE 100 indices during the flat period from October 15, 2009 to October 15, 2010. An F-test was employed at 5% level of significance to test the difference in variances with 249 degrees of freedom. The null and alternative hypothesis was as follows: Ho: the difference in daily variances of KMI30 and KSE 100 index for the flat period from October 15, 2009 to October 15, 2010 is equal to zero H1: the difference in daily variances of KMI30 and KSE 100 index for the flat period from October 15, 2009 to October 15, 2010 is not equal to zero The calculated F-Statistic was 0.969669 greater than the critical value of 0.811496 at 5% significance level with 187 degrees of freedom. As a result, the null hypothesis was rejected and it was concluded that there was significant difference in variances of KMI30 and KSE 100 indices at 5% level of significance in the flat period from October 1 5, 2009 to October 15, 2010. The eighth hypothesis tested the differences in variances of KMI30 and KSE 100 indices during the second bullish period from October 15, 2010 to January 15, 2011. F-test was used to find the difference in variances at 5% level of significance with 58 degrees of freedom. The null and alternative hypothesis was as follows: Ho: the difference in daily variances of KMI30 and KSE 100 index for the bullish period from October 15, 2010 to January 15, 2011 is equal to zero H1: the difference in daily variances of KMI30 and KSE 100 index for the bullish period from October 15, 2010 to January 15, 2011 is not equal to zero The calculated F-Statistic was 1.3817738 less than the critical value of 1.5457683 at 5% significance level with 187 degrees of freedom. As a result, the null hypothesis was failed to reject and it was concluded that there was no significant difference in variances of KMI30 and KSE 100 indices at 5% level of significance in the secon d bull period from October 15, 2010 to January 15, 2011. Conclusion During the complete period, both bull periods, and the flat period, KMI30 index outperformed the KSE 100 and KSE 30 with a significant margin while remained less volatile than KSE 30 and slightly more than KSE 100 which shows that KMI30 has the ability to generate superior level of return given the risk when compared with KSE 100 and KSE 30. The beta of KMI30 remained less than 1 in all periods except the last bull period in which KMI30 remained more volatile than either of KSE 30 or KSE 100 which shows some kind of irregularity as KMI30 is a low risk index. Also it was found out that KSE 100 explained more variation in KMI30 than KSE 30 in all periods as determined by the R-Square which indicates that KMI30à ¢Ã¢â€š ¬Ã¢â€ž ¢s variation in its returns is caused by market more when compared with KSE 30 R-Square. The correlation matrices gave similar results with KMI30 correlated more strongly with KSE 100 in all periods than KSE 30 correlated with KSE 100. The Sharpe ratio was only positive for KMI30 over the complete period indicating that only KMI30 was able to deliver better risk adjusted returns. It also indicated that a risk-free asset e.g. 12 month T-Bill performed better than either KSE 100 or KSE 30. Also in the first paired t-test for daily mean returns for the complete period, null hypothesis was rejected indicating that there is a significant difference in the returns of KMI30 and KSE 100 however in the rest of the paired t tests for bull and flat periods, the null hypothesis was failed to reject indicating that there is no significant difference in mean daily returns of KMI30 and KSE 100 over these bull and flat periods. The F-tests indicated that there was no significant difference in the variances of KMI30 and KSE 100 indices during the complete, bull and flat periods. These findings indicate that there is no significant difference in the volatility of KMI30 and KSE 100 indices however KMI30 was able to produce much better returns over the complete, bull and flat periods which shows that Islamic indices have the potential to deliver superior or equivalent returns than their counterpart conventional indices while assuming the same level of risk. Hence it has been concluded that Shariah Compliant indices deliver better risk adjusted returns than other traditional Non-Shariah Compliant indices.

Element Symbol for Brass

Its easy to get confused about the difference between elements and alloys. Some people wonder what the element symbol for brass is. The answer is that there is no element symbol for brass because it consists of a mixture of metals or an alloy. Brass is a copper alloy (element symbol Cu), usually combined with zinc (Zn), although sometimes other metals are combined with copper to make brass. Element Symbols The only time a substance has an element symbol is when it contains only one type of atom, all having the same number of protons. If a substance contains more than one kind of atom (more than one element), it may be represented by a chemical formula made up of element symbols, but not by a single symbol. In the case of brass, the copper and zinc atoms form metallic bonds, so there isnt really a chemical formula. Thus, there is no symbol.

The Occupational Therapy Student ( Ots ) - 1132 Words

The purpose of this pre-class assignment is for the occupational therapy student (OTS) to analyze strengths and weaknesses in emotional intelligence (EI) skills prior to entering the leadership course. These skills will facilitate the OTS’ ability to provide the appropriate therapeutic skills clients will need during the occupational therapy (OT) process, as well as contribute to the development of the OTS’ leadership skills. This assignment will overview the OTS’ results in the Emotional Quotient Self-Score Questionnaire (EQSSQ) and compare and contrast results with traits of leadership and therapeutic modes utilized in OT practice (â€Å"Emotional Quotient Self-Score Questionnaire†, n.d.). EQSSQ Results The EQSSQ assesses the quality of skills including self-awareness, self-management, social awareness and social skills (See appendix A). The OTS scored 31 on self-awareness. The OTS reported strength in skills of evaluating limitations, identifying level of pressure, and admitting unreasonable behaviors. The OTS reports the need for improvement on expressing confidence in self and work, managing level of pressure, autonomous decision making. The OTS scored a total of 43 on self-management skills. The OTS reports good selfmanagement and emotional regulation skills such as maintain a calm appearance when a situation becomes uncomfortable, and self- initiating tasks. The OTS believes she can improve on accepting criticism non-defensively, adjusting rapidly to change, and stayingShow MoreRelatedThe American Occupational Therapy Association993 Words   |  4 Pagessense of urgency among the stakeholders, such as occupational therapists, educators, OT students, and parents. The sense of urgency can be established by pointing out possible consequences of not specifying OTs as school mental health providers under the NCLB. 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The Occupational Therapy Practice Framework: Domain and Process text (2014), defines occupational therapy as, â€Å"the therapeutic use of everyday life activities (occupations) with individuals or groups for the purpose of enhancing or enabling participation in roles, habits, and routines in home, school, workplace, community, and other settings† (pgRead MoreOccupational Therapists Are Ill, Injured, Or Disabled1059 Words   |  5 Pages The Bureau of Labor Statistics describes an occupational therapist as one who treats patients who are ill, injured, or disabled by the therapeutic use of everyday activities. They help patie nts develop, recover, and improve the skills needed for daily living and working (2014-15).The Occupational Handbook describes the many jobs of these occupational therapists in steps. It states that the process begins with observing patients, interviewing them, and reviewing medical history. OnceRead MorePain Case Study1732 Words   |  7 Pagesliving. The benefits of this modality in occupational therapy (at a cognitive level) can help the client to improve self-image, increase confidence, decrease stress and anxiety, and improve quality of life. Use of CAM Modalities, and its Implications for OT Research and Practice The occupational therapy practitioner must use suitable practice models to guide clinical reasoning in treatment planning and evaluation. Electroacupuncture may be used by occupational therapists as a preparatory method toRead MoreThe American Occupational Therapy Association ( Aota ) And Its Director Of Health Policy794 Words   |  4 Pagesthe Inter-OT School Legislative Workshop offered insight into the future Occupational Therapy (OT) in the United States and how I— a future therapist can advocate for change and ensure the future and strength of the profession. Within the 3-hour event, I gained a tremendous amount of understanding of OT’s future, various funding sources from the federal government, projected demands of the field in the future, and further insight to the critical work of the American Occupational Therapy AssociationRead MoreGeneral Research Perspective And Type1142 Words   |  5 Pagesthe respondents to convey their unique perspective. This will allow for a high quality of information from OT practitioners serving in different regions with varied experience. The following subquestions were asked: What are the biggest obstacles facing Occupational Therapy in the school system? Which skills are underutilized in the school system by OT practitioners? Do you feel the role of OT is understood by your co-workers? Are you satisfied with your job? The answers to these sub-questions areRead MoreMental And Physical Health Of College Students1469 Words   |  6 PagesMental and Physical Health of College Students Jackie Brocious Misericordia University Literature Review: Mental and Physical Health of College Students This paper is focused on the sub-topic of mental and physical health of college students, either within healthcare-related fields or general graduate programs. This sub-topic is a branch of our group’s research purpose of identifying the occupational therapy (OT) student’s perception and confidence with an OT program and their preparedness within

Diploma of Business Administration

Question: Case study on the "Singtel- A telecommunication company of Singapore". Answer: 1.0 Introduction Singtel is a well-known telecommunication company of Singapore that provides telecommunication service including fixed line, mobile telephony, internet service, broadband, digital television, IT and network services. Being established at 1995, the company has expanded itself in many regional areas and out of their home country. It is the largest organization in Singapore by its market capitalization and holds a significant market share in the market of Singapore. The general plan of Singtel Telecommunication is to be the market leader in Singapore and implement cost leadership strategy. The focus of this company in Singapore is to provide premium WiFi Service with increased 5x speed and enjoying unlimited data usage and hotspot (info.singtel.com, 2016). The study will describe job analysis of 2 positions in terms of job description and job specification. The positions that will be chosen for this study are marketing and sales manager and human resource manager. One job design for the post of human resource manager will also be described in this study. The study will also describe recruitment and selection strategy of the organization. Apart from that, the implementation and detailed plan of job description, recruitment and section strategy will be described in this study. 2.0 Job Analysis 2.1 Job Description for Marketing and Sales Manager Tile Marketing and Sales Manager Code MS/09 Department Marketing and Sales Department Summary Marketing and sales Manager has to establish well contact and relationship with the customers of the organization. They have to attract the customer toward the product of the organization. Apart from that the manager has also to develop and apply suitable and persuasive salesmanship in regards to selling products. Duty The prime duty of the marketing and sales manager will be to fulfill the sales quota. The manager will also be responsible for aligning with the promotional activities of the organization. The duty of this organization will also be to meet the marketing and sales objective of the organization. The responsibility of choosing market opportunity for seeking consumers will also be the responsibility of the manager. Working Condition The working condition of the organization will be normal like any other organization. Report to Marketing in marketing and sales department Table 1: Job description of marketing and sales Manager (Source: Sanchez Levine, 2012) 2.2 Job Specification for Marketing and Sales Manager Education MBA in Marketing from any recognized university Experience The manager would need at least five years of experience. Summary Strong communication skills and ability for handling complex situation should be there within the manager. The manager should also be flexible enough to accommodate himself in dynamic situation. Skills, abilities and knowledge The manager should have knowledge for marketing and sales. The manager would also be able to convince people in purchasing the product of the organization. The manager would also have strong negotiation skills in selling the products. Age The manager would be less than 40 years of old. Table 2: Job Specification for Marketing and Sales Manager (Source: Algera Greuter, 2013.) 2.3 Job Description for Human Resource Manager Title Human Resource Manager Code HR/600 Department Human Resource Department Summary The human resource manager will be responsible to direct all the human resource activities of the organization. The manager will also to ensure that all the human resource policies, procedures and strategies are as per the organizational context. Duties The human resource manager should ensure proper implementation of recruitment, selection, training, development, performance appraisal, safety and security compliance in the organization. The manager will also be responsible for transferring all the human resource related information to upper level management of the organization. Working Condition The working hours for the organization will be normal like 8 hours per day and 5 day per week. Report to Director of human resource department Table 3: Job Description for Human Resource Manager (Source: Cucina et al., 2012) 2.4 Job Specification for Human Resource Manager Education The manager will have a degree of MBA in human resource or PG diploma in human resource or MA in industrial psychology. The manager will also have degree or diploma in industrial labor. Experience The manager would require at least three years of experience in similar position in any telecommunication organization. Skills, ability and knowledge The manager should have knowledge in human resource management practice in any competing organization. The manager would also require skills in techniques of employee management. The manager needs the ability of making job description and conducting meeting with the organizational members. Work orientation factor The manager may require at least 20% of travel. Age Below 35 years of old Table 4: Job Specification for Human Resource Manager (Source: Thurgood et al., 2013) 3.0 Job Design for Human Resource Manager Job design is the core function of human resource management that requires specification of job contents, methods and relationship of job for satisfying organizational needs as well as personal needs of the organization (Wood et al., 2012). The job designs for the post of human resource manager of Singtel are as follows: 3.1 Design for efficiency The Human resource manager will be responsible to give notice and advertisement for vacant position in the organization. According to the vacant position of the organization, the human resource manager has to arrange and schedule interview for recruiting the new employees in the organization. According to the exact requirement of the vacant position, the managers have to select appropriate candidate for the organization (Freeney Fellenz, 2013). Apart from that, the manager should have the skills of developing the human resource of the organization through proper performance appraisal system. The manager will have to make health and safety programs for the employees of the organization. 3.2 Additional work The manager of the organization will have to check daily attendance of the employees for the organization. The manager will also be responsible for investigating the absence of the employees. The ability to initiate proper disciplinary action within the organization for maintaining disciplines within the organization (Cullinane et al., 2014). At some time, the HR manager has also to counsel the employees for the betterment of their job performance. 3.2 Design for motivation The HR manager will be responsible for variety of task for reducing boredom of doing one type of task. Apart from recruiting and selecting the employees, the manager will also be responsible for give training to the employees for enhancing their skills. For increasing the motivational level of human resource manager, the manager will be provided with challenging work that would increase their pride level (Freeney Fellenz, 2013). In this context, the manager will be responsible for counseling the low performing employees to increase their performance level. 3.3 Design for safety and health Generally, normal working hours will be set for the human resource manager of the organization, but the manager may have to work for longer time as per the organizational requirement. The manager may have to spend long hours sitting and use organizational equipment and computers that can cause eyesight problems (Algera Greuter, 2013). However, some of recreational activities will be set for the manager to reduce their stress level. 3.4 Mental capacity The mental capacity for the human resource manager should have strong mental capacity for to deal with complex situation. The human resource manager of Singtel will also have the ability to deal with number of task one at a time. 4.0 Recruitment Strategy Recruitment strategies are referred to the process of finding the vacant position for the organization and sourcing for the best candidate that can meet the job requirement of the vacant position. The organization can source for the vacant position either externally or internally. 4.1 External Strategies Direct Walk In Singtel can organize direct walk in interview session for recruitment of the employees in the organization. The organization will give advertise of the vacant position in new paper and other media channel from which the interested candidate would know about the job requirement (Mgge, 2016). The interested candidate can find their matching with the job requirement and come to the organizational campus for giving interview. Recruitment Agencies Recruitment agencies are some kind of organizations that sources various types of skilled and knowledgeable candidates. Singtel organization can ask for the recruitment agencies for hiring the candidate that match the requirement of the vacant job position (Buller McEvoy, 2012). The recruitment agencies keep the record of various types of unemployed candidate and from that, Singtel can hire for best candidate. The organization can use this recruitment strategy for saving time for non-core hiring activities and concentrate on their core activities related to telecommunication. 4.2 Internal strategies Promotion One of the best internal recruitment strategies for Singtel would be internal promotion of the employees to fulfill the vacant position. In this strategy, the organization can internally promote the employees to the vacant position in top level, if the skills for the vacant position is matched with any of the employees already works in the organization (Sanchez Levine, 2012). Through this process, Singtel can reduce their cost of recruitment strategy and increase the motivational level of the employees. Selecting top talent from within organization In this strategy, the organization can set merit test examination for the internal employee of the organization. In the merit text examination, the organization will be able to select top talent from within the organization for matching the vacant position. 5.0 Selection Strategies The following strategies will be selected for choosing right candidate for right position for Singtel organization. Preliminary Interview This interview will eliminate those candidates, who do not match the skills for the position of Singtel. In order to select human resource manager, the selection board will check the required qualification, skills and experience needed for the positon. Application Blank The candidate who will clear the preliminary interview will fill the application blank. In this application blank, the candidate will record their qualification, experience, reason for leaving the earlier job and their age. Written Test Various written test will be conducted in term of aptitude test and personality test for checking the ability of candidate in interacting with people. It would not be biased. Employment interview In this strategy, one to one interaction will be conducted between the employer and candidate. The aim of this strategy will be to justify the suitability of the candidate for the Human resource manager position (Algera Greuter, 2013). Medical Examination Medical test will be conducted for checking the physical fitness of the candidate. It will reduce the chance of absenteeism rate of the employees. Appointment letter The organization in this strategy will provide appointment letter to the candidate after making referencecheck. 6.0 Implementation and detailed plan for job design, recruitment and selection 6.1 Implementation of Job design Job design will be implement according to the mandate of the organization. Signtel will define their needs of human resource manager and accordingly set the skills and knowledge for the required position. The organization will ensure that their mandate support the organizational goals. After analysis the organizational goal, it would task analysis, task identity and task significance. Task analysis in job design will enhance the simplification of the job position. Apart from that, the job design will also be implemented for skill analysis that demonstrate skills variety required for the job position. 6.2 Implementation of Recruitment Strategy Recruitment strategy will be implemented through finding vacant position in the organization and sourcing right candidate for the vacant position. The organization will give job advertisement in various media channel from newspaper to social media channel. The hiring team will apply two types of recruitment strategies for sourcing candidates namely external and internal. In walk in interview method, the organization will invite different candidate that would match the required criteria for the vacant position of human resource manager (Freeney Fellenz, 2013). The candidate will directly come to organizational campus and give interview. Apart from that, the organization can also source candidate from recruitment agencies. 6.3 Implementation of Selection Strategy Signtel will implement selection strategy through arranging proper interview with the candidate from the shortlisted candidate of recruitment strategies. A written examination board will also be created for conducting written examination that identify checking the personality and skills of the candidate for the post of HR manager (Sanchez Levine, 2012). A separate room will be arranged where, the hiring manager will take one to interaction with candidate for justifying their suitability for the vacant position. One medical board will also be arranged by Signtel for checking the fitness of the candidate. 7.0 Conclusion While concluding the study, it can be said that Singtel is the largest telecommunication organization in Singapore by its market capitalization. Job analysis of two position for this organization namely marketing and sales managerand human resource manager has analyzed jib description and job specification. Job description for the two position suggests the required duty and job summary for the positions. On the other hand, job specification suggest the required qualification and experience needed for the job position. Job design for the position of human resource manager suggests the required efficiencies, motivation and mental capacity needed by the position. Recruitment strategy suggests the proper way and sourcing the candidate and selection strategy suggests way of selecting proper candidate for the positon. References Algera, J.A. and Greuter, M.A. (2013). Job analysis.A Handbook of Work and Organizational Psychology: Volume 3: Personnel Psychology,3, p.141. Buller, P.F. and McEvoy, G.M. (2012). Strategy, human resource management and performance: Sharpening line of sight.Human resource management review,22(1), pp.43-56. 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