Insignificance Of Words :: essays research papers

The Insignificance of Words A man walks down a dimly lit street; the bright red lights above the hospital’s exit are now just a faint glow behind him. As he staggers along the city blocks back to his quiet row home, he ponders the tragic news he has just received regarding his mother’s failing health. A couple blocks from the refuge of his home, he runs into some of the neighborhood locals. Some he knows most he doesn’t, but greets them all the same. â€Å"How’s it goin’?† he says, in a voice that is less then enthusiastic. â€Å"Good† they reply, â€Å"How’s it goin’ with you?† The man responds â€Å"Good, thanks for asking†, again not showing much interest in the conversation he just finished, he trudges toward home. After passing the locals, the man is amused at the simple truth that he is not doing â€Å"good† and that he does not really care if those people are. He ponders the stupidity of the conversation he just had and l aughs for the first time all day.   Ã‚  Ã‚  Ã‚  Ã‚  As he enters his doorway and hangs up his jacket, he slowly glances around the living room and finds his way to the olive colored sofa. As he searches the coffee table for the remote control, he begins to think of his ailing mother and her impact on his life. His search ends as he finds the clicker and turns on the television. Not paying any attention to the infomercial on the screen, he is just glad that the silence of his home is broken. As Chuck Norris is explaining why the â€Å"Ab Slide is the newest, safest and most effective method for getting in shape in the comfort of your own home.† He reflects back on the conversation that he had walking home from the hospital. He quickly laughs again and thinks what was the point of even talking to them. . The simple nonchalant nature of not caring what â€Å"is† goin’on, reflects one of the reasons why individuals in America are becoming less community oriented.   Ã‚  Ã‚  Ã‚  Ã‚  Do they even care how I am? Do they even know who I am? Should I trouble them with the predicament that I am in? Would it be proper to stop and explain to these people how my mother is dying and how much pain I am in. Unsure if the man was rude to his neighbors with his dismissive attitude towards their conversation he reflected back on his life.

Oligopoly and Match Price

After reading this chapter, you should know: 1. The unique characteristics of oligopoly. 2. How oligopolies maximize profits. 3. How interdependence affects oligopolists' pricing decisions. Problems for Chapter 10 1. Suppose the automobile market in the U. S. is divided as follows: General Motors28% Ford23% Toyota18% Daimler-Chrysler16% All others15% a) What is the four firm concentration ratio? b) What is the approximate Herfindahl-Hirschman Index? 2.Assume an oligopolist confronts two possible demand curves for its own output, as illustrated below. The first (A) prevails if other oligopolists don’t match price changes. The second (B) prevails if rivals do match price changes. Price ($) $10 9 8 7 6 5 4Demand A 3 2 1Demand B 02468101214 Quantity (units per period) a) By how much does quantity demanded change if price is reduced from $10 to $4 and i) Rivals match price cut? ii) Rivals don’t match price cut? b) By how much does quantity demanded change if price is raised from $4 to $9 and ) Rivals match price hike? ii) Rivals don’t match price hike? 3. Suppose the following schedule summarizes the sales situation confronting an oligopolist in the beverage industry: Price (per unit) |$0. 30 |$0. 40 |$0. 50 |$0. 60 |$0. 70 |$0. 80 |$0. 90 | |Quantity demanded per period (in millions) |10 |9 |8 |7 |6 |5 |4 | | Using the graph below, a) Draw the demand and marginal revenue curves facing this firm. b) Identify the profit-maximizing rate of output in a situation where marginal cost is constant at $0. 0 a unit. $ 1. 00 0. 90 0. 80 0. 70 0. 60 0. 50 0. 40 0. 30 0. 20 0. 10 012345678910 (Quantity in millions) 4. Suppose Nike and Adidas spend enormous sums of money every year to promote their athletic wear, hoping to steal customers from each other. Furthermore, assume each year they have to decide whether or not they should spend more money on advertising. If neither firm advertises, each of them will earn $5 million. If both advertise, each will earn $2 million in profit.If one firm advertises and the other does not, the firm with the promotions will earn a profit of $3 million and the other firm will earn a mere $0. 5 million. Use a payoff matrix to present this problem. 5. For the problem above: a) If the probability of an Adidas decision to advertise is 90 percent, what is the expected payoff to Nike’s decision to advertise? b) If the probability of Adidas not advertising even though Nike does not is 20 percent, what is expected payoff to Nike’s decision to not to advertise? c) What should Nike do?

The Vampire Diaries: The Awakening Chapter Two

Elena was surrounded the instant she stepped into the high school parking lot. Everyone was there, the whole crowd she hadn't seen since late June, plus four or five hangers-on who hoped to gain popularity by association. One by one she accepted the welcoming hugs of her own group. Caroline had grown at least an inch and was slinkier and more like aVogue model than ever. She greeted Elena coolly and stepped back again with her green eyes narrowed like a cat's. Bonnie hadn't grown at all, and her curly red head barely came up to Elena's chin as she flung her arms around Elena. Wait a minute-curls? thought Elena. She pushed the smaller girl back. â€Å"Bonnie! What did you do to your hair?† â€Å"Do you like it? I think it makes me look taller.† Bonnie fluffed up the already fluffy bangs and smiled, her brown eyes sparkling with excitement, her little heart-shaped face alight. Elena moved on. â€Å"Meredith. You haven't changed at all.† This hug was equally warm on both sides. She had missed Meredith more than anyone, Elena thought, looking at the tall girl. Meredith never wore any makeup; but then, with perfect olive skin and heavy black lashes, she didn't need any. Right now she had one elegant eyebrow raised as she studied Elena. â€Å"Well, your hair is two shades lighter from the sun†¦ But where's your tan? I thought you were living it up on the French Riviera.† â€Å"You know I never tan.† Elena held up her hands for her own inspection. The skin was flawless, like porcelain, but almost as fair and translucent as Bonnie's. â€Å"Just a minute; that reminds me,† Bonnie interjected, snatching one of Elena's hands. â€Å"Guess what I learned from my cousin this summer?† Before anyone could speak, she informed them triumphantly: â€Å"Palm reading!† There were groans, and some laughter. â€Å"Laugh while you can,† said Bonnie, not at all disturbed. â€Å"My cousin told me I'm psychic. Now, let me see†¦Ã¢â‚¬  She peered into Elena's palm. â€Å"Hurry up or we're going to be late,† said Elena a bit impatiently. â€Å"All right, all right. Now, this is your life line-or is it your heart line?† In the crowd, someone snickered. â€Å"Quiet; I'm reaching into the void. I see†¦ I see†¦Ã¢â‚¬  All at once, Bonnie's face went blank, as if she were startled. Her brown eyes widened, but she no longer seemed to be staring at Elena's hand. It was as if she were lookingthrough it-at something frightening. â€Å"You will meet a tall, dark stranger,† Meredith murmured from behind her. There was a flurry of giggles. â€Å"Dark, yes, and a stranger†¦ but not tall.† Bonnie's voice was hushed and faraway. â€Å"Although,† she continued after a moment, looking puzzled, â€Å"he was tall, once.† Her wide brown eyes lifted to Elena's in bewilderment. â€Å"But that's impossible†¦ isn't it?† She dropped Elena's hand, almost flinging it away. â€Å"I don't want to see any more.† â€Å"Okay, show's over. Let's go,† Elena told the others, vaguely irritated. She'd always felt psychic tricks were just that-tricks. So why was she annoyed? Just because that morning she'd almost freaked out herself†¦ The girls started toward the school building, but the roar of a finely tuned motor stopped them all in their tracks. â€Å"Well, now,† Caroline said, staring. â€Å"Quite a car.† â€Å"Quite a Porsche,† Meredith corrected dryly. The sleek black 911 Turbo purred through the parking lot, searching for a space, moving as lazily as a panther stalking prey. When the car came to a stop, the door opened, and they glimpsed the driver. â€Å"Oh, my God,† Caroline whispered. â€Å"You can say that again,† breathed Bonnie. From where she stood, Elena could see he had a lean, flat-muscled body. Faded jeans he probably had to peel off at night, tight T-shirt, and a leather jacket of unusual cut. His hair was wavy-and dark. He wasn't tall, though. Just average height. Elena let out her breath. â€Å"Whois that masked man?† said Meredith. And the remark was apt-dark sunglasses completely covered the boy's eyes, shielding his face like a mask. â€Å"That maskedstranger ,† someone else said, and a babble of voices rose up. â€Å"Do you see that jacket? That's Italian, as in Roma.† â€Å"How would you know? You've never been farther than Rome, New York, in your life!† â€Å"Uh-oh. Elena's got that look again. The hunting look.† â€Å"Short-Dark-and-Handsome had better be careful.† â€Å"He isn't short; he's perfect!† Through the chatter, Caroline's voice suddenly rang out. â€Å"Oh, come on, Elena. You've already got Matt. What more do you want? What can you do with two that you can't do with one?† â€Å"The same thing-only longer,† drawled Meredith, and the group dissolved into laughter. The boy had locked his car and was walking toward school. Casually, Elena started after him, the other girls right behind her in a close-knit pack. For an instant, annoyance bubbled up inside her. Couldn't she goanywhere without a parade on her heels? But Meredith caught her eye, and she smiled in spite of herself. â€Å"Noblesse oblige,† Meredith said softly. â€Å"What?† â€Å"If you're going to be queen of the school, you have to put up with the consequences.† Elena frowned at this as they entered the building. A long corridor stretched before them, and a figure in jeans and leather jacket was disappearing through the office doorway up ahead. Elena slowed her pace as she walked up to the office, finally stopping to glance thoughtfully at the messages on the cork bulletin board by the door. There was a large window here, through which the entire office was visible. The other girls were openly gazing through the window, and giggling. â€Å"Nice rear view.† â€Å"That isdefinitely an Armani jacket.† â€Å"You think he's from out of state?† Elena was straining her ears for the boy's name. There seemed to be some kind of trouble in there: Mrs. Clarke, the admissions secretary, was looking at a list and shaking her head. The boy said something, and Mrs. Clarke lifted her hands in a â€Å"What can I say?† gesture. She ran a finger down the list and shook her head again, conclusively. The boy started to turn away, then turned back. And when Mrs. Clarke looked up at him, her expression changed. The boy's sunglasses were now in his hand. Mrs. Clarke seemed startled by something; Elena could see her blink several times. Her lips opened and closed as if she were trying to speak. Elena wished she could see more than the back of the boy's head. Mrs. Clarke was fumbling through piles of paper now, looking dazed. At last she found a form of some kind and wrote on it, then turned it around and pushed it toward the boy. The boy wrote briefly on the form-signing it, probably-and returned it. Mrs. Clarke stared at it a second, then fumbled through a new pile of papers, finally handing what looked like a class schedule to him. Her eyes never left the boy as he took it, inclined his head in thanks, and turned to the door. Elena was wild with curiosity by now. What had just happened in there? And what did this stranger's face look like? But as he emerged from the office, he was settling his sunglasses in place again. Disappointment coursed through her. Still, she could see the rest of his face as he paused in the doorway. The dark curly hair framed features so fine that they might have been taken from an old Roman coin or medallion. High cheekbones, classical straight nose†¦ and a mouth to keep you awake at night, Elena thought. The upper lip was beautifully sculpted, a little sensitive, a whole lot sensual. The chatter of the girls in the hallway had stopped as if someone had thrown a switch. Most of them were turning away from the boy now, looking anywhere but at him. Elena held her place by the window and gave a little toss to her head, pulling the ribbon out of her hair so that it fell loose around her shoulders. Without looking to either side, the boy moved on down the hallway. A chorus of sighs and whispers flared up the moment he was out of earshot. Elena didn't hear any of it. He'd walked right by her, she thought, dazed. Right by without a glance. Dimly, she realized the bell was ringing. Meredith was tugging her arm. â€Å"What?† â€Å"I said here's your schedule. We've got trig on the second floor right now. Come on!† Elena allowed Meredith to propel her down the corridor, up a flight of stairs, and into a classroom. She slid into an empty seat automatically and fixed her eyes on the teacher at the front without really seeing her. The shock still hadn't worn off. He'd walked right by. Without a glance. She couldn't remember how long it had been since a boy had done that. They all looked, at least. Some whistled. Some stopped to talk. Some just stared. And that had always been fine with Elena. After all, what was more important than boys? They were the mark of how popular you were, of how beautiful you were. And they could be useful for all sorts of things. Sometimes they were exciting, but usually that didn't last long. Sometimes they were creeps from the beginning. Most boys, Elena reflected, were like puppies. Adorable in their place, but expendable. A very few could be more than that, could become real friends. Like Matt. Oh, Matt. Last year she'd hoped that he was the one she was looking for, the boy who could make her feel†¦ well, something more. More than the rush of triumph at making a conquest, the pride in showing your new acquisition off to the other girls. And shehad come to feel a strong affection for Matt. But over the summer, when she'd had time to think, she'd realized it was the affection of a cousin or sister. Ms. Halpern was passing out trigonometry books. Elena took hers mechanically and wrote her name inside, still wrapped in thought. She liked Matt more than any other boy she'd known. And that was why she was going to have to tell him it was over. She hadn't known how to tell him in a letter. She didn't know how to tell him now. It wasn't that she was afraid he'd kick up a fuss; he just wouldn't understand. She didn't really understand herself. It was as if she were always reaching for†¦ something. Only, when she thought she'd got it, it wasn't there. Not with Matt, not with any of the boys she'd had. And then she had to start all over again. Fortunately, there was always fresh material. No boy had ever resisted her successfully, and no boy had ever ignored her. Until now. Until now. Remembering that moment in the hall, Elena found that her fingers were clenched on the pen she held. She still couldn't believe he'd brushed by her that way. The bell rang and everyone flooded out of the classroom, but Elena paused in the doorway. She bit her lip, scanning the river of students flowing through the hall. Then she spotted one of the hangers-on from the parking lot. â€Å"Frances! Come here.† Frances came eagerly, her plain face brightening. â€Å"Listen, Frances, you remember that boy this morning?† â€Å"With the Porsche and the-er-assets? How could I forget?† â€Å"Well, I want his class schedule. Get it from the office if you can, or copy it from him if you have to. But do it!† Frances looked surprised for a moment, then grinned and nodded. â€Å"Okay, Elena. I'll try. I'll meet you at lunch if I can get it.† â€Å"Thanks.† Elena watched the girl go. â€Å"You know, you really are crazy,† Meredith's voice said in her ear. â€Å"What's the use of being queen of the school if you can't pull a little rank sometimes?† returned Elena calmly. â€Å"Where do I go now?† â€Å"General Business. Here, take it yourself.† Meredith thrust a schedule at her. â€Å"I've got to run for chemistry. Later!† General Business and the rest of the morning passed in a blur. Elena had hoped to catch another glimpse of the new student, but he was in none of her classes. Mattwas in one, and she felt a pang as his blue eyes met hers with a smile. At the lunch bell, she nodded greetings right and left as she walked to the cafeteria. Caroline was outside, posed casually against a wall with chin up, shoulders back, hips forward. The two boys she was talking to fell silent and nudged each other as Elena approached. â€Å"Hi,† Elena said briefly to the boys; and to Caroline: â€Å"Ready to go in and eat?† Caroline's green eyes barely flickered toward Elena, and she pushed glossy auburn hair out of her face. â€Å"What, at theroyal table ?† she said. Elena was taken aback. She and Caroline had been friends since kindergarten, and they had always competed with each other good-naturedly. But lately something had happened to Caroline. She'd begun to take the rivalry more and more seriously. And now Elena was surprised at the bitterness in the other girl's voice. â€Å"Well, it's hardly as if you were a commoner,† she said lightly. â€Å"Oh, you're so right about that,† said Caroline, turning to face Elena fully. Those green cat-eyes were slitted and smoky, and Elena was shocked by the hostility she saw there. The two boys smiled uneasily and edged away. Caroline didn't seem to notice. â€Å"A lot of things changed while you were gone this summer, Elena,† she continued. â€Å"And just maybe your time on the throne is running out.† Elena had flushed; she could feel it. She struggled to keep her voice steady. â€Å"Maybe,† she said. â€Å"But I wouldn't buy a scepter just yet if I were you, Caroline.† She turned and went into the lunchroom. It was a relief to see Meredith and Bonnie, and Frances beside them. Elena felt her cheeks cool as she selected her lunch and went to join them. She wouldn't let Caroline upset her; she wouldn't think of Caroline at all. â€Å"I got it,† said Frances, waving a piece of paper as Elena sat down. â€Å"And I have some good stuff,† said Bonnie importantly. â€Å"Elena, listen to this. He's in my biology class, and I sit right across from him. And his name is Stefan, Stefan Salvatore, and he's from Italy, and he's boarding with old Mrs. Flowers on the edge of town.† She sighed. â€Å"He isso romantic. Caroline dropped her books, and he picked them up for her.† Elena made a wry face. â€Å"How clumsy of Caroline. What else happened?† â€Å"Well, that's all. He didn't really talk to her. He's ver-r-ry mysterious, you see. Mrs. Endicott, my biology teacher, tried to get him to take off his glasses, but he wouldn't. He has a medical condition.† â€Å"What kind of medical condition?† â€Å"I don't know. Maybe it's terminal and his days are numbered. Wouldn't that be romantic?† â€Å"Oh, very,† said Meredith. Elena was looking over Frances's sheet of paper, biting her lip. â€Å"He's in my seventh period, History of Europe. â€Å"Anybody else have that class?† â€Å"I do,† said Bonnie. â€Å"And I think Caroline does, too. Oh, and maybe Matt; he said something yesterday about how it was just his luck, getting Mr. Tanner.† Marvelous, Elena thought, picking up a fork and stabbing at her mashed potatoes. It looked as if seventh period was going to beextremely interesting. Stefan was glad the school day was almost over. He wanted to get out of these crowded rooms and corridors, just for a few minutes. So many minds. The pressure of so many thought patterns, so many mental voices surrounding him, was making him dizzy. It had been years since he had been in a swarm of people like this. One mind in particular stood out from the others. She had been among those watching him in the main corridor of the school building. He didn't know what she looked like, but her personality was powerful. He felt sure he'd recognize it again. So far, at least, he'd survived the first day of the masquerade. He'd used the Powers only twice, and then sparingly. But he was tired, and, he admitted ruefully, hungry. The rabbit hadn't been enough. Worry about that later. He found his last classroom and sat down. And immediately he felt the presence of that mind again. It glowed at the edge of his consciousness, a golden light, soft and yet vibrant. And, for the first time, he could locate the girl it was coming from. She was seated right in front of him. Even as he thought it, she turned around and he saw her face. It was all he could do not to gasp in shock. Katherine! But of course it couldn't be. Katherine was dead; no one knew that better than he did. Still, the resemblance was uncanny. That pale golden hair, so fair it almost seemed to shimmer. That creamy skin, which had always made him think of swans, or alabaster, flushing faintly pink over the cheekbones. And the eyes†¦ Katherine's eyes had been a color he had never seen before; darker than sky blue, as rich as the lapis lazuli in her jeweled headband. This girl had those same eyes. And they were fixed directly on his as she smiled. He looked down from the smile quickly. Of all things, he did not want to think about Katherine. He didn't want to look at this girl who reminded him of her, and he didn't want to feel her presence any longer. He kept his eyes on the desk, blocking his mind as strongly as he knew how. And at last, slowly, she turned around again. She was hurt. Even through the blocks, he could feel that. He didn't care. In fact, he was glad of it, and he hoped it would keep her away from him. Other than that, he had no feelings about her at all. He kept telling himself this as he sat, the droning voice of the teacher pouring over him unheard. But he could smell a subtle hint of some perfume-violets, he thought. And her slender white neck was bowed over her book, the fair hair falling on either side of it. In anger and frustration he recognized the seductive feeling in his teeth-more a tickling or a tingling than an ache. It was hunger, a specific hunger. And not one he was about to indulge. The teacher was pacing about the room like a ferret, asking questions, and Stefan deliberately fixed his attention on the man. At first he was puzzled, for although none of the students knew the answers, the questions kept coming. Then he realized that that was the man's purpose. To shame the students with what they didn't know. Just now he'd found another victim, a small girl with clusters of red curls and a heart-shaped face. Stefan watched in distaste as the teacher badgered her with questions. She looked wretched as he turned away from her to address the entire class. â€Å"You see what I mean? You think you're pretty hot stuff; you're seniors now, ready to graduate. Well, let me tell you, some of you aren't ready to graduate kindergarten. Like this!† He gestured toward the red-haired girl. â€Å"No idea about the French Revolution. Thinks Marie Antoinette was a silent film star.† Students all around Stefan were shifting uncomfortably. He could feel the resentment in their minds, and the humiliation. And the fear. They were all afraid of this thin little man with eyes like a weasel, even the husky boys who were taller than he was. â€Å"All right, let's try another era.† The teacher swung back to the same girl he'd been questioning. â€Å"During the Renaissance-† He broke off. â€Å"Youdo know what the Renaissance is, don't you? The period between the thirteenth and seventeenth centuries, in which Europe rediscovered the great ideas of ancient Greece and Rome? The period that produced so many of Europe's greatest artists and thinkers?† When the girl nodded confusedly, he continued. â€Å"During the Renaissance, what would students your age be doing at school? Well? Any idea at all? Any guesses?† The girl swallowed hard. With a weak smile she said, â€Å"Playing football?† At the ensuing laughter, the teacher's face darkened. â€Å"Hardly!† he snapped, and the classroom quieted. â€Å"You think this is a joke? Well, in those days, students your age would already be proficient in several languages. They would also have mastered logic, mathematics, astronomy, philosophy, and grammar. They would be ready to go on to a university, in which every course was taught in Latin. Football would be absolutely the last thing on-† â€Å"Excuse me.† The quiet voice stopped the teacher in midharangue. Everyone turned to stare at Stefan. â€Å"What? What did you say?† â€Å"I said, excuse me,† Stefan repeated, removing his glasses and standing up. â€Å"But you're wrong. Students in the Renaissance were encouraged to participate in games. They were taught that a healthy body goes with a healthy mind. And they certainly played team sports, like cricket, tennis-and even football.† He turned to the red-haired girl and smiled, and she smiled back gratefully. To the teacher, he added, â€Å"But the most important things they learned were good manners and courtesy. I'm sure your book will tell you that.† Students were grinning. The teacher's face was red with blood, and he was sputtering. But Stefan continued to hold his eyes, and after another minute it was the teacher who looked away. The bell rang. Stefan put his glasses on quickly and gathered his books. He'd already drawn more attention to himself than he should, and he didn't want to have to look at the blond girl again. Besides, he needed to get out of here quickly; there was a familiar burning sensation in his veins. As he reached the door, someone shouted, â€Å"Hey! Did they really play football back then?† He couldn't help throwing a grin over his shoulder. â€Å"Oh, yes. Sometimes with the severed heads of prisoners of war.† Elena watched him as he went. He'd deliberately turned away from her. He'd snubbed her on purpose, and in front of Caroline, who'd been watching like a hawk. Tears burned in her eyes, but at that moment only one thought burned in her mind. She'd have him, even if it killed her. If it killed both of them, she'd have him.

To Study Swot Analysis for Portfolio Management Services Offered by Sharekhan Ltd.

SUMMERY In today’s business environment many of stockbroker’s offers PMS (Portfolio Management Services). While observing the business environment of Stockbrokers the main business is how they offer low brokerage and better services to the clients. In this context an attempt is made to study the SWOT analysis of PMS (Portfolio Management Services) offered by SHREKHAN Ltd. Which highlights what are the Strengths, Weaknesses, Opportunities and Threats of PMS (Portfolio Management Services) offered by SHREKHAN Ltd. as compare to other competitors offered this scheme. Also take the interview of 100 clients and observe what the expectations about the PMS (Portfolio Management Services) are offered by SHREKHAN Ltd TABLE OF CONTENTS ? Acknowledgments †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ? Abbreviations †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. ? An Executive Summary †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. ? Industry Profile†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ? Company Profile†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. ? Market share of Share khan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ? Introduction to project†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ? Hypothesis of the Project †¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ? Objectives Project†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ? Limitations of the Project†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ? Research Methodology †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ? Empirical Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. ? Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ ? Bibliography†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Abbreviation AMC:Annual Maintenance charges. BSE:Bombay Stock Exchange. DP:Depository participant. IPO:Initial Public Offer. MCX:Multi Commodity Exchange. MT:Management Thesis. NAV:Net Asset Value. NCDEX:National Commodity and derivatives Exchange. NCFM:National Stock Exchange Certification In Financial  services. NFO:New Fund Offer. NSE:National Stock Exchange. PMS:Portfolio Management Services. SEBI:Security Exchange Board of India. Industry Profile By 1830's business on corporate stocks and shares in Bank and Cotton presses took place in Bombay, there were only half a dozen brokers recognized by banks and merchants during 1840 and 1850. In 1860-61 the number of brokers increased to about 200 to 250. In 1895, the Stock Exchange acquired a premise in the same street and it was inaugurated in 1899. Thus, the Stock Exchange at Bombay was combining. Trading Pattern of the Indian Stock Market Trading in Indian stock exchanges is limited to listed securities of public limited companies. They are broadly divided into two categories, namely, †¢ Specified securities (forward list) †¢ Non-specified securities (cash list). A member broker in an Indian stock exchange can act as an agent, buy and sell securities for his clients on a commission basis. National Stock Exchange (NSE) The National Stock Exchange was incorporated in 1992 by Industrial Development Bank of India, ICICI, all Insurance Corporations, selected commercial banks and others. Trading at NSE can be classified under two broad categories: (a) Wholesale debt market and (b) Capital market. Wholesale debt market operations are similar to money market operations – institutions and corporate bodies enter into high value transactions in financial instruments such as government securities, treasury bills, public sector unit bonds, commercial paper, certificate of deposit, etc. There are two kinds of players in NSE: 1. Trading members and 2. Participants. Recognized members of NSE are called trading members who trade on behalf of themselves and their clients. Participants include trading members and large players like banks who take direct settlement responsibility. India's oldest and first stock exchange is Bombay Stock Exchange which is established in 1875. More than 6,000 stocks listed in BSE. Totally there are 22 stock exchanges in India. They are located in Ahmadabad, Bangalore, Calcutta, Chennai, Delhi etc. There is also a National Stock Exchange (NSE) which is located in Mumbai. There is also an Over the Counter Exchange of India (OTCEI) which allows listing of small and medium sized companies. The regulatory agency which oversees the functioning of stock markets is the Securities and Exchange Board of India (SEBI), which is also located in Bombay Overview of Company Sharekhan is a firm, which is working under SSKI (S. S. Kantilal Ishwarlal Securities Ltd. ). SSKI was founded in 1922. SSKI is One of India’s Oldest Brokerage Houses Having Eight Decades of Experience into: ? Institutional Broking ? Investment Banking ? Retail Broking It is one of the Founding members of the Stock Exchange, Mumbai and Pioneer Institutional Broker. SSKI Entered into Retail Broking in 1985. Share khan is the Retail Broking Arm of the BIG 80 Years old organization i. e. of SSKI and â€Å"Sharekhan† is the Brand Name given to its Retail Business. SSKI carries out its Retail Broking Activities under â€Å"Sharekhan† Brand Name. Sharekhan Outlets act as Full Service Investment Solutions Provider, providing you wide range of services like – ? Equity & Derivatives Trading on NSE and BSE ? Online Trading ? Commodities Trading on MCX & NCDEX ? Portfolio Management Services ? Depository Services ? IPO Services ? Wide Range of Customized Research Products ? Uniform Service Standards Offerings of the Sharekhan: – Sharekhan offers both Offline and online trading account. But now a days it mostly concentrates on online trading account through which a customer can buy and sell shares in an instant from any part of the globe trough website. It does not take into account any type of physical restriction of going to the broker for carrying out a transaction or any type of settlement of payment. It facilitates the customer a speedy and hassle free transaction. Share khan’s product consists of a 4-in-1 concept, which integrates: †¢   D-mat Account †¢ Trading Account †¢ Bank Link †¢ Dial-N-Trade For doing a trading of shares everyone need D-mat A/C. In his D-mat A/C one can keep his shares. Then Sharekhan provides a Trading A/C  . Through this trading account, a Sharekhan customer can directly transfer his funds from his savings account i. e. from bank account to Sharekhan to his trading account without any paper work. He can buy and sell shares from the website and also view the market prices of the shares he trades on the terminal. Sharekhan. com allows trading at present only on NSE. BSE trading will be shortly available. To open an account a customer requires filling up a form consisting of 12 agreements, a passport size photograph, a residential proof, a photo id proof and a cheque drawn of respective amount in favor of S. S. Kantilal Ishwarlal Securities Pvt. Ltd. & From 22 March, 2007  cheque is drawn in favor of Sharekhan Ltd. itself. After opening an account with Sharekhan, a customer will be given User id, Membership password and trading password, which will enable him to access his account and trade. Products of â€Å"SHAREKHAN†: – Sharekhan offers 2 types of products according to the volume-based requirements of the investors that are as follows:  Ã‚   CLASSIC ACCOUNT: †¢ This account allows the client to trade through the website and is suitable for the retail investors. Here maximum scripts that can be shown on the terminal are only 25. Also the technical charts are not available. †¢ It’s a JAVA BASED APPLET, which allows trading only through website and see latest prices of the scripts of your choice which is attached below. †¢ This account also allows trading in Derivatives. †¢ The lifetime registration charge for this account is Rs. 750 and there is no constraint of minimum turnover. SPEED TRADE ACCOUNT: – o This is ideal for active traders who transact frequently during day’s trading session to capitalize on intra-day price movements. Speed trade is Internet-based application based software, which is available on a CD, which provides everything a trader needs on one screen, thereby, reducing the time required to execute a trade. o Speed trade offers a tick-by-tick update on stock price movements with market depth and intra-day chart and lets the client do his own stock/technical analysis. o While the Lifetime charge for this account is Rs. 1000 /- with a minimum brokerage of Rs. 1500 /- to be generated each quarterly. OFF LINE SERVICES- ? In this Dmats A/C is open in Rs 350/- ? In this trader has to come in office for trading. Bank Connection: – Sharekhan has affiliation with 8 banks, which allows its customers to enjoy the facility of instant credit and transfer of funds from his savings bank account to his Sharekhan trading account. The affiliated banks are as follows:   ? HDFC BANK ? UTI BANK ? CITI BANK ? ICICI BANK ? OBC BANK ? UNION BANK ? INDUSLAND BANK ? IDBI BANK DIAL-N-TRADE: – It is also an exclusive service available to all Sharekhan customers for trading in shares via the telephone. On dialing the toll free number 1800-22-7500 the customer will be directed to a tele-broker who will buy or sell shares for him. After Hour Orders: – Sharekhan customers also enjoy the facility of placing orders even after the trading hours, and the orders are executed as soon as the market opens. Brokerage:- †¢ It is one of the important things, which are observed by the customer while opening a D-mat A/C. †¢ For Intraday Transactions they charge 0. 05 % on each leg Transaction. †¢ For Delivery Transactions they charge 0. 50 % on each leg Transaction. & †¢ For Derivatives Transactions they charge 0. 05 % on each leg Transaction. Trade in Commodity: – Sharekhan also trade in commodities like Bullion: Gold / Silver and Agricultural commodities through Sharekhan Commodity Pvt. Ltd. which are a wholly owned subsidiary of its parent SSKI. Research Team of Sharekhan: – Research and in-depth knowledge of markets provide better than speculations or reacting to rumors. Research team provides knowledge to their customers about market condition. †¢ In morning they provide â€Å"Eagle Eye† which tells about how the market will be in whole day. †¢ In afternoon they provide â€Å"High Noon† which tells that up to that time how was the market and what about the remaining time what will be the condition of the market. †¢ After the market they analyze the market summery of the whole day and give idea about next day market. Mobile-N-Trade facility: – Now Sharekhan is providing the facility that their customers can do trading with the help of their mobile handset. For that purpose they have to pay some extra charge to activate that facility. Importance of the research to the Organization: – 1) The organization get’s the competitive information about the pricing strategy of their competitor’s. 2) Through that they can establish their new pricing strategy to gain competitive advantage. 3) They came to know the effects of using the pricing strategy in the market. Location of company: SHAREKHAN Limited Cross Land, 1204/22, J M Road, Opposite Shambhaji Park, Shivajinagar, Pune, 411005 Phone No. :  020 25520002 Way to Share Khan (JM Road, Pune) Products of Sharekhan:- 1) Stock broking (NSE,BSE) 2) F & O broking (Future and option) 3) PMS (Portfolio Management Services) 4) Commodity trading 5) Insurance 6) Mutual fund 7) Pan card 8) IPO (Initial public offer) |Sharekhan Services | |Sharekhan, one of India's leading brokerage houses, is the retail arm of  SSKI. With over 510 share shops in 170 cities, and India's premier online trading | |portal www. sharekhan. com, our customers enjoy multi-channel access to the stock markets. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Introduction The project assigned is â€Å"TO Study SWOT Analysis For Portfolio Management Services Offered By SHAREKHAN Ltd. In JM Road, Pune†. The purpose of project is to understand Portfolio Management Services, its function, terms involved in and types of Portfolio Management Services. And also study competitors PMS Services in this way that to help the company in its day-to-day work. I worked with the company as a management trainee in SHAREKHAN ltd. Hypothesis 1. People those have large excess money interested in investing in PMS. 2. Retail investors are also now take interest in this scheme. 3. PMS scheme does not have more impact on sales revenue of SHAREKHAN. OBJECTIVE ? To study Portfolio Management Services Offered By SHAREKHAN Ltd. To understand Portfolio Management Services and its importance. ? To study various types of Portfolio Management Services ? To know about the Portfolio Management Services Offered by competitors of SHAREKHAN Ltd ? To understand and know various term s used in and process used in Portfolio Management Services in market. ? Make the SWOT analysis of Portfolio Management Services offered by SHAREKHAN Ltd. LIMITATIONS While completing this project following limitations are occurred: ? Graphical Constraint: – ? Wrong Mind Set about Share Market: – ? Lack of awareness: – ? Lack of Money: – Methodology This project is Descriptive type of the project. In this project I considered only the part of pricing strategy of the organization, and I also studied the topic of my Management Thesis from angle of 360 degree. This project comes under the Formal Research in which objectives are clearly defined and where researcher gathers whole information about all aspects of the project. There is a formal procedure to conduct research; I followed following steps of methodology to conduct the research, Identifying & Defining Problem Planning the Research Design Selecting a Research Method Selecting a Sampling Procedure Data Collection Evaluating the Data Preparing the Research Report Sources of the Information: – While collecting the data for project two types of Sources are used. 1. Primary sources : – In this, data is collected directly from respondents using questionnaire, direct observation & interview techniques. So for this purpose I visited 150 people in the JM Road, Pune. I interviewed them and asked them various questions related to my project and try to find out the actual result 2. Secondary sources: – In this type of data collection I used the information which is already collected by some other person or in printed form before I collected. Sources of secondary data include websites, books, Internet, Journals and also the pamphlets, and the broachers made by the company for their advertisement, etc. I used above methodology & data sources for my project by following steps What is PMS (Portfolio Management Services)? Meaning of PMS The word portfolio means a set or group or combination of securities held by and investor. And the word management means to conduct or manage in a proper way. Thus it means managing of share in a proper way expecting the risk and return. Portfolio Management is the process of selecting a bundle of securities that will provide the investing organization a maximum yield for a given level of risk or alternatively ensure minimum risk for a given level of return. A portfolio is defined a s the composite set of ownership rights to financial assets in which the investor wishes to invest. Portfolios are, thus, composed of securities. It means manages your money by fund manager. It just like Invest your money in PMS, sit back and do nothing. † Advantages of investing in PMS V/s Mutual Fund †¢ You have greater control over the asset allocation, whereas it is automatic in a mutual fund. †¢ The portfolio can be customized to suit your risk-return profile †¢ The portfolio man ager has relatively greater flexibility to move in and out of cash as and when required depending on the market view. †¢ Typically, charges are lower and more transparent in PMS vis a vis a Mutual Fund †¢ Holdings not impacted by entry / exit of the investors. How Sharekhan Manages Portfolio? Sharekhan portfolio Management Services ? Protech ? Proprime ? Proarbitrage [pic] A Trading based portfolio management scheme :- Sharekhan introduces a PMS Protech for- a client with higher risk profile using the tenents of Technical Analysis. Product Offerings 1. Nifty Thrifty 2. Beta Portfolio 1. Nifty Thrifty:- Nifty futures are bought and sold on the basis of an automated trading system that generates calls to go long / short. The exposure never exceeds value of portfolio i. e. there is no leveraging; but being short in Nifty allows you to earn even in falling markets and there by generates linear returns. Features of Nifty thrifty: o Nifty futures are bought and sold on the basis of an automated trading system that generates calls to go long / short. The exposure will never exceeds the value of the portfolio i. e. no leveraging; but will allow to be short in Nifty in falling market therefore allowing the client to earn irrespective of the market direction. o The balance money will be invested in Liquid Funds o Money management rules will be in place to see th at the capital is not eroded. 2. Beta Portfolio:- Stocks in long term technical up trends are identified at various inflection points in their trading cycles. 80% of the portfolio is traded in delivery of such stocks. 20% is used in creating and options book i. e. buying calls/puts of the index / stocks to increase the portfolio beta and hedge against pitfalls. Features of Beta Portfolio: Stocks in long term technical up trends are identified at various inflection points in their trading cycles o 80% of the portfolio is traded in delivery of such stocks. o 20% is used in creating and options book i. e. buying calls/puts of the index / stocks to increase the portfolio beta and hedge against pitfalls. o The use of timing for delivery and options for a higher beta will attempt to offer a superior rate of returns by taking a risk only 20% of the capital. o Money management rules will be in place to see that the capital is not eroded. o Portfolio rebalancing may be conducted between the cash and options segments based on the profitability of each segment. Product characteristics: Using swing/momentum based index trading systems with stop/reverse trend following. ? Investor get the best of worlds by: ? Having positions in cash and options ? Delivery positions enable profit maximization, while options position offered high beta short term profit in the same portfolio. ? Low impact cost. Product details: †¢ Minimum investment Rs. 5 Lakh †¢ Lock in for 3 months †¢ Fortnightly reporting of Portfolio Net Worth †¢ Monthly reporting of Portfolio Holdings/Transactions †¢ 20% profit sharing fees on booked profits quarterly basis †¢ 5% discount on profit sharing fees [to 15%] for investment of 1 crore OR lock in of 1 year. †¢ 0% AMC fees Brokerage 0. 05% for derivatives and 0. 30% for delivery. Nifty futures will be bought and sold on the basis of an automated trading system that will generate calls to go long/short. The system has been test ed over the last 20 years of data  and  performance has been very good [details or returns v/s risk are available  for interested investors]. The portfolio's exposure will never exceed the value of the portfolio, i. e. there shall be no leveraging. But the strategy will allow us to go short/hedge on Nifty in falling markets, thereby yielding returns irrespective of the market direction. The portfolio will either be long or short at all point time. Nifty Thrifty: | |Nifty futures are bought and sold on the basis of an automated trading system that generates calls to go long/short. The | |exposure never exceeds value of portfolio i. e. there is no leveraging; but being short in Nifty allows you to earn even in | |falling markets and there by generateslinear | Product offerings: 1. The Aggressive Scheme: Ideal for investors looking at higher returns with high risk appetite. This portfolio consists of high growth stocks fulfilling any of the following conditions: ? Expected growt h in profitability Turn around and corporate restructuring enabling value unlocking ? Relatively low valuation ? Mid to small cap companies 2. The Balanced Scheme: Ideal for investors looking at steady returns with low risk appetite. This portfolio consist of blend of quality blue chip and growth stocks ensuring a balance portfolio with relatively medium risk profile. Product approach: Investments are based on 3 tenets: I. Consistent, steady and sustainable returns II. Margin of safety III. Low volatility Product characteristics: ? Bottom up stock selection ? In-depth, independent fundamental research ? High quality companies with sustainable competitive advantage ? Disciplined valuation approach applying multiple valuation measures ? Medium to long term vision, resulting in low portfolio turnover Product details: ? Minimum investment: Rs. 5 lakh ? Lock in: 3 months ? Reporting: Online access to portfolio holdings, monthly reporting of portfolio holdings/transactions ? Charges: 2. 5% per annum AMC fees charged every quarter, 0. 5% brokerage, 20% profit sharing after 15% hurdle is crossed- chargeable at the end of the fiscal year. Product offerings: Cash-future Arbitrage: it spots risk free opportunities that yield greater returns than conventional risk free products. On spotting the opportunity, the stock is bought and future is sold to lock in the spread. Position is liquidated if the spread things before time or on expiry, whichever comes earlier. In this manner, the scheme moves from one opportunity to another. Product approach: There is an inherent opportunity in the spread that lies between cash and futures. When the spread is high stocks are bought; at the same time futures are sold to lock in the difference which is then bound to be zero at expiry. Product characteristics: Risk Free: On the whole, it is risk-free and can be compared to RBI bonds and GILT funds. High Returns: As compared to other zero risk products, it offers roughly an 8% post tax returns. Product details: ? Minimum Investment: Rs. 5 lakh ? Lock in: 3 months Reporting: fortnightly for portfolio net worth, monthly for portfolio holdings/Transactions ? Charges: 0. 035% brokerage for cash,0. 075% for delivery SWOT ANALYSIS Of PMS (Portfolio Management Services) offered by SHAREKHAN Ltd. Strengths In Sharekhan’s PMS (Portfolio Management Services) It has a pr oduct like NIFTY THRIFTY. It is the big strength for Sharekhan, because Sharekhan is only the license holder of NIFTY THRIFTY. Generally investors give more preference to this product because it works on the TECHNICAL basis and gives maximum returns is just about 40%. It is the maximum returns that no other product gives this much of returns to investors. The other product i. e. BETA Portfolio which works on Fundamental level. In this product 80% of the portfolio is trade in the Delivery basis and the remaining 20% is trade in Option basis i. e. buying calls/puts. so investors gets fixed returns. So the product ProTech is very big strength of the Sharekhan Ltd. Weaknesses Sharekhan’s other products ProPrime and ProArbitrage does gives as much business as ProTech. In this two products risk is low and the returns are also steady or low. In this scheme money of investors invested in RBI Bonds and GILIT funds, in this way though as compare to other zero risk products, it offers roughly 8% post tax returns. So generally because of this investors are not prefere to invest their money in this scheme. Because of large investment in PMS (Portfolio Management Services) it is minimum 5 lakh Investors does not take interest in such scheme. Sharekhan does not have the product of small investment, under 5 lakh that the retail investors also take interest in PMS (Portfolio Management Services). Opportunities As per mention above only Sharekhan has the license to operate ProTech which includes NIFTY THRIFTY and BETA portfolio so investors does not have any other option for investing there money if they want to invest in ProtTch. So this is proved as a very big opportunity for Sharekhan to capture the market and to get the customer as far as ProTech is concern. As per the studies the retail investors are taking interest in investing in PMS. Because in PMS the portfolio is managed as a individual basis. In PMS services there is a fund Manager who manages our portfolio. So now retail investors are also take part in PMS services. So it will be opportunity for Sharekhan to increase their business and will take market lead. Threats In Pune Kotak and Motilal Oswal are the good competitors of Sharekhan. Because Kotak has a 12 years experience in PMS services , they have good products like Sharekhan . The second competitor is Pukhraj Securities because they provide the PMS scheme which has the minimum investment Rs 2, 00,000/- And Sharekhan has the products which has minimum investment Rs. , 00,000/-So Pukhraj also become a good competitor for Sharekhan. Second the entries of Reliance in stock broking will defiantly create a problem for Sharekhan. Market share of different stock broker for PMS in Pune [pic] The market share for PMS in Pune is captured by Kotak more than Sharekhan as well as other stock brokers. It is leading be cause Kotak provide this service from more than 12 years. Sharekhan started this scheme from 2003. In very short period it also captures market and highly competes with Kotak. And put back to the others. [pic] Because of higher investment requisition such as minimum investment is of Rs. 5,00,000/- in PMS so the no of investors are less than other products. [pic] After taking the 100 client’s interview the result is derived as out of 100 investors 35 are go for sharekhan to invest their money. The second on the rank is Kotak. So it is proved that the PMS scheme provided by sharekhan is more preferred by investors. Conclusion After the studies I have concluded that if company provides the better product as well as schemes not only high class or higher income group will invest but the middle income group is also take interest in investing their money in share market. Only because of one best product and scheme if company launches it can be a market leader for that and will captures the more share of market. BIBLIOGRAPHY Books: – Financial Management Textbook. ? Marketing management Textbook. ? Sip student’s Manual Book. Pamphlets Printed by Various Stock Broking Firms. Web Sites: – ? www. Sharekhan. com ? www. MoneyControl. com ? www. Kotak. com ? www. AnandRathi. com ? www. MotilalOswal. com ? www. ICICIDirect. com ———————– I understand objectives of my management thesis. I prepared questionnaire to collect primary data from customers. I used data collection techniques like questionnaire & interviews. I compiled collected data using excel sheet. I analyzed collected data using various tools & graphical way. I draw conclusion from collected data & make report on it. Pune

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Comparative analysis - Essay Example Roger Scruton (2010) on the other hand looks at the issue of the modern education from another perceptive. He also agrees that that there is a problem with the modern education and that there needs to be a way to deal with these issues. To make his point, he introduces his text by reviewing a book written some century years ago by a catholic scholar. The book is titled The Idea of a University authored by Cardinal John Henry Newman who was a great scholar during the 19th century (Scruton, 2010). Scruton outlines how Newman describes the ideal university. He points out that Newman painted a picture of a university not just as a place to gain knowledge, but a place to shape and guide a man’s discipline. Roger Scruton argues that this is almost no longer the case. These two authors tackle the issue from two different angles. For instance, Ribinson looks the issue from a creativity point of view and argues that there is a need for modern schools to create an environment that helps students to be creative. This problem has been looked at by a number f people. Scruton on the other hand looks at the issue of modern education mostly from an economic point of view. In his article, he looks at the kind of decision that most parents, especially those who are economically restrained, make before deciding to take their teenage child to university. Roger Scruton’s argument is based on the fact that education has become very expensive and the courses that the university today offers some programs that may not seem to improve much on the student. He contradicts Newman’s ideal view of a university. To describe how Newman’s idea of a university cannot be achieved today, he gives an example of how a father may feel after sending his daug hter to university only for the daughter to graduate with a course in women’s studies (which he

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White Collar Crime in America - Research Paper Example â€Å"White-crime statistics are drearier still. Though two out of every three Americans have been the victims of a white-collar crime, 85 percent of victims don't file reports with the authorities. An untold number may never even know they have been the victims of crimes such as stock manipulation, double billing for purchases, unnecessary home or auto repairs, embezzlement, or as evidenced by recent events, Ponzi schemes.† (O'Donnell, Jan 29, 2009.) Is there a permanent solution to root out white-collar crimes from American society and if so what are the measures to be initiated? White collar crime baffles definition. The industrialization and the internet revolution which are the foundation stones of the materialistic civilization have contributed much to the advancement of the white-collar crime. Explaining the inability of the thinkers and writers on the subject to come to an acceptable conclusion to tender a definition that is acceptable to all, David O Friedrichs goes to elaborate the major crimes which can be classified as white collar crimes. He writes, â€Å"Some of these terms include economic crime, commercial crime, business crime, marketplace crime, consumer crime, respectable crime, â€Å"crime at the top†, â€Å"suite† crime, elite crime and deviance, official crime and deviance, political crime, governmental crime, state (or state-organized) crime, corporate crime, occupational crime, employees crime, vocational crime, techno-crime, computer crime †¦.†(Friedrichs, 2006, p, 5) That which is evident needs no further app reciation, explanation or elaboration. White collar crime has taken hold many segments of society and is growing in all directions like the octopus. This is also a contentious topic- whether one is committing a legitimate business activity in a free enterprise system which is the hallmark of a capitalist society or indulges in white-collar crime.  

Absorption costing and marginal costing Assignment

Absorption costing and marginal costing - Assignment Example Simpson Ltd has produced more than its estimated sales volume. Hence closing stock got piled up which could be avoided if they would have followed methods like just in time inventory system, regular delivery system etc to reduce the stock holding costs (Chadwick. L., 1998). As of now, in this case, since the sales volume is lower than the production volume, the profit is higher in absorption costing than in marginal costing. This is because of higher valuation for the closing stock in absorption costing than what is valued in the marginal costing. The difference of increase in closing stock valuation is attributable to the fixed expenses charged to the cost of goods manufactured in the absorption costing while in marginal costing, the same are not being charged as it is guided by the contribution principal of sales less variable costs. Hence, as the costs of goods manufactured is more in absorption costing, naturally, its closing stock valuation would also be higher which is deducted from the actual sales (through deduction in the cost of goods manufactured) indirectly thereby increasing the profit figure. In this way, the profit figure gets inflated in the case of absorption costing than in marginal costing thereby misleading the management about the higher profit figures than what is really earned if we observe the data for only one term. However, as this closing stock gets utilized in the next period, if the production is lesser in that period, the absorption costing would record lesser profits than that of the variable costing thus nullifying the differences arising in this term. In this way, there is no difference in the reporting of the profit figures if taken on a long term basis in both the systems. (Walker.J. & Burke. L., 2003). Absorption costing is used for external reporting purposes as mandated by the financial statements under the guidelines of the generally