Life Of Omar Bin Al Khatab History Essay

History is the manifestation of adult male ‘s will ; it changes its class when an ordinary adult male shows vastly strong will power and that ‘s how an ordinary adult male becomes a fable. Omar Bin Al-Khatab was one such character. He seems to hold changed the class of history with his ain will. Omar is regarded as most of import figures in history of Islam and the true designer of Islamic Empire. Historical histories prove him to be one of the greatest vanquishers, a wise and merely swayer and a adult male known for his simple life style and love of God. Omar become the 2nd Muslim swayer after decease of Muhammad and ruled for 10 old ages. He was a taking advisor to the Islamic prophesier Muhammad Omar was a great supporter and comrade of the Prophet Mohammed. Omar converted to Islam after 6 old ages of Mohammed ‘s first disclosure and spent 18 old ages attach toing the Prophet. He succeeded the first calif Abu Bakr on 23 rd of grand 634 as the 2nd calif and changed the historical building of Islamic history. Rising from the rank of a shepherd and a junior-grade merchandiser he became the true architecture of the Islamic civilisation. ( Wikipedia, 2011 ) Early life His female parent ‘s name was Hantammah and male parent ‘s name was Khattab ibn Nufayl, from the folk of Banu Makhzum. Omar was born to a in-between category household and when he was a kid his male parent put him to the undertaking of croping camels. His male parent was a tough taskmaster, and Omar frequently recalled how his male parent beaten him up pitilessly whenever there was a error on his portion. It seems that Omar grew up as a typical Arab male child -a tall immature adult male with a robust build and impressive character. It is believed that among the Quraish of those yearss merely 17 people were able to read and compose and Omar was one of them. He was really intelligent and had a eminent personality, intellectually and physically every bit good. He was a good public talker. By all available histories he seemed to be an mean Arab young person.At the same clip he was gifted with self-respect, a broad-mind and a strong sense of justness. He appeared to be a adult male of strong strong beliefs, a good friend, and a bad enemy. He was ever ready to stand up against the oppressor and recommend the cause of the weak. Later in his young person he took up the traditional profession of a bargainer. As a bargainer, he travelled extensively to Syria, Iraq, and Yemen, Rome and Persia and other topographic points every bit good. He was a good bargainer ; he made good money and developed a good geopolitical apprehension of the part every bit good while going. ( Islamic Point ) Omar converted to Islam in 616, before that he was the fiercest opposition of Islam. Interestingly, he resolved to kill Prophet Mohammed to complete Islam wholly.He believed that the coming of new religion of Islam will interrupt the integrity of Quraish. Omar was the most inexorable and really barbarous in oppressing Muslims. Converting to Islam In the twelvemonth 616 Umar got converted to Islam. Once he read the poetries of Quran, he was so impressed by the deity of the poetries he accepted Islam on that really same twenty-four hours in forepart of the prophesier and his comrades. Omar ‘s transition gave assurance to the Muslims and they felt powered. It was seen as the triumph of Islam, Muslims did n't offer supplications at al-harem mosque until Omar accepted Islam ( Abdullah bin Masoud, n.d. ) . Because of all this the Prophet himself gave him the rubric of Al-Farooq, one who distinguishes true from falsity. Now Islam was deriving popularity ; in 622 A.D. because of the increasing popularity of Islam in Medina, Mohammed ordered his followings to migrate to Medina. Omar besides went to Medina. Muslims lived peacefully in Medina for about a twelvemonth before Quraish ground forces attacked Medina.Omar played cardinal function in the conflicts between Quraish and Muslims. ( Encyclopedia ) Caliphate He succeeded the first calif Abu Bakr in 634A.D. and played a cardinal function in determining the history of Islam. Under him the Islamic Empire was expanded at a rate that could merely be compared to the great Roman Empire. His opinion abilities, administrative accomplishments and his intelligently coordinated onslaughts against the Iranian Empire resulting in the conquering of the Persian Empire, established him as a great military and political leader of the epoch. But it was non really easy for him to acquire things under control as he was non a popular figure because of his stringency and bossy nature. Abu Bakr ‘s comrades ab initio discouraged the thought of Caliphate of Omar but Abu Bakr had other programs and he assured his high ranking comrades that one time Omar becomes calif he would be a changed adult male. Omar was really clear and did conveyed that he will be soft with them who followed the regulations and would be rough and ill-mannered with those who wo n't follow the same. He wanted the well being of the hapless and underprivileged ; because of his democrat policies he quickly gained popularity. ( Encyclopedia ) Political and civil disposal Umar ‘s authorities was a unitary authorities ; Caliph had the supreme political authorization. His imperium was divided into independent and states. States were divided into territories. There were 100 territories in the district of Umar. The Wali ( Provincial governors ) were the decision maker of these states, which were recruited by Umar. These were the officer ‘s place at the provincial degree was which were appointed by Omaror the provincial governors: Katib ( Chief Secretary ) , Sahib-ul-Kharaj, ( Revenue Collector ) , Sahib-ul-Ahdath, ( Police head ) , Sahib-Bait-ul-Mal ( Treasury Officer ) and Qadi ( Chief Judge ) . In some of the territories there were separate military officers. The Commanding officer of the ground forces in most of the topographic points remained the same and that was the Governor ( Wali ) . Whenever the appointed anyone they used to make that all in composing. Nothing was without paperwork. When they were seeking to name or appointed Wali the instrument of instructions was made to the modulating behavior of Governors. ( Wikipedia, 2010 )Military enlargementOmar was one of the greatest decision makers of his epoch. Omar believed in consolidating his power and political influence. With the proper counsel of Umar, Islamic took a huge alteration and grew large clip as a really fast rate. He introduced several administrative reforms ; he made a Shura ( advisory ) council and sought advice from them on affairs of province personal businesss. He divided the immense Islamic imperium in different states and appointed a governor who was answerable to caliph. The Governors were suppose d to assist in disposal and whosoever used their office to acquire rich was badly punished. As a Caliph, Omar was ready to accept and follow what was good in other civilisations as good. Wherever possible, he tried to larn from others and adopted the advanced techniques and administrative patterns of the conquered people as good. For illustration, when Persia was conquered, Windmills were in extended usage in Persia, Omar ordered the building of windmills in several Arab states, including Medina. For the first clip military was organized professionally and made a province section. Finance, accounting, revenue enhancement and exchequer sections were created for the first clip in the Islamic Empire. Police, prisons and postal units were established. ( Islamic Point )ReformsAgribusiness was promoted during his Caliphate. Irrigation system was reformed ; old canals were excavated and new 1s built. Large countries of land were brought under cultivation. Roadss were built and were on a regular basis patrolled. A traveller could travel with safety on the roads of the immense Islamic Empire. When Omar became the Caliph of Islam, most of the states economic system was based on bondage. Omar was the 1 who raised his voice against bondage. He took specific step to extinguish bondage every bit far as possible. The immense districts of Islamic Empire – West Asia and North Africa were transformed into a free trade zone. Business brought prosperity. Omar understood the importance of instruction ; instruction was encouraged and instructors were paid good. The survey of Quran, Hadith, linguistic communication and literature and penmanship received backing from the Empire. Omar was himself a poet and an impressive speechmaker. He constructed Over 4,000 mosques during his Caliphate. Technology and new administrative patterns such as the building of windmills, formation of accounting section were encouraged. In the imperium new roads were laid out and old 1s were repaired. Omar organized a population nose count in the Empire following the illustration of the China. Muslim rules extended increasingly during the Caliphate of Umar, about 4000 mosques were constructed. He provided visible radiations to the mosques and superior fabric to cover the Kaaba. It happened in the twelvemonth 638 that Arabia fell into drouth which was besides been so followed by a dearth. To do this alteration and to do it better Umar tried many things out of which 1 was hosting dinner every dark. It was approximately more than hundred 1000 people who used to come for the dinner every dark. Conditionss began to better in early 639. When dearth ended so Umar went to see and steer the people. Not merely he guided but besides gave good sum, rations and besides exempted them from revenue enhancement ( zakat ) for that twelvemonth and the twelvemonth following it. Omer went for hadj in Mecca when he was assassinated. He was assassinated in response to the Muslim conquering of Persia, by a Iranian in 644. Character assassination of Umar was been assigned by Abu Lulu. The history of Omar shows and explains many things. He was a adult male with great powers of head. He was really stiff in doing justness and with inflexible unity.

Nordstrom Incâ€analyzing Financial Performance

NORDSTROM INC—ANALYZING FINANCIAL PERFORMANCE RETURN ON OPOERATING ASSETS ADDITIVE DUPONT MODEL Summary Nordstrom is one of the oldest retail companies in the United States. It started from 1901 in Seattle and has been grown to a powerful retailer in national area. Selling high quality products is the most important method for Nordstrom to collect its revenue. At the same time, Nordstrom also offers credits and debts to customers by his banks. In this case, we are trying to analysis Nordstrom’s financial statements and calculate few simple ratios to approach the performance of this company.The main point in our analysis is to figure out how Nordstrom is using its operating assets to get returning. a). ROE is used to measure the net profit in a period as a percentage of shareholder’s equity. In other word, ROE means how much net income we can get by using shareholders’ investment. ROE is more important than net income in dollar terms because ROE is a ratio. Ratio allowed analysts to compare companies’ performance over the period. In fact, the ratio can also help us compare companies in a different size or different industry.Net income in dollar terms is not widely used because this method is limited by companies’ different situations. b). ROE and RONA are both useful methods to determine a company’s performance. However, ROE and RONA measure a company’s performance in a different way. ROE considers entire company’s income, expenses and gain/loss of a company’s profit; RONA only consider a company’s net profit from operating activities. On the other hand, ROE calculates all returns which come from shareholder’s building of equity; RONA only calculates the operating assets and liabilities which don’t include the financing activities.The non-operating portion of ROE represents is that a company captures profit from financing activities and investing activities (both of them a re not operating activities). c). Marginal tax rate means a rate of tax that one company needs to pay on its next dollar of taxable income. Marginal tax rate will affect company’s future economic decisions because this tax rate is related to the economic situation. So, companies not only need to consider federal income tax but also need to consider state income tax. Tax shield is the tax reduction, which is created by items that are allowed to take deduction from tax income.For instance, interest on debt is tax-deductible, taking on debt makes tax shield. Tax shield is an important method to saving cash flow and it is a significant part of companies’ business valuation (Wikipedia, 2012). d. (in millions)| Fiscal 2009| Fiscal 2008| Fiscal 2007| Operating assets| 6,579| 5,661| 5,600| Operating liabilities| 2,394| 1,938| 1,988| Net operating assets| 4,185| 3,723| 3,612| e. 2009 NOPAT= 441 + [(138? (1- 38. 5%)] = 526 2008 NOPAT= 401 + [(131? (1-38. 5%)] =482 The dollar amo unt of Nordstrom’s tax shield from nonoperation activities in fiscal 2009 is $53 ( $ 138 x 38. 5 % ). f. 009 RNOA = $526 /[($4,185 + $3,723)/2] = $526 / $3,954 = 13. 3% 2008 RNOA = $482 /[($3,723 + $3,612)/2] = $482 / $3,668 = 13. 1% g. RNOA is improved over the two years. In order to understand the increase, we can examine NOPM and NOAT. NOPM is 6. 1 % ( $ 526 / $ 8, 627) in 2009 and 5. 6 % ( $ 482 / 8, 573) in 2008. NOPM analyzes the amount of net operating profit after tax for each dollar that is been earned by sales. The increase in NOPM may be seen a small increase but if the volume of the sales is considered, the increase would have huge impact on a increase in net income. NOAT is 2. 18 % ($ 8, 627 / 3,954) in 2009 and 2. 4 % ($ 8, 573 / 3, 688) in 2008. The decrease in NOAT shows that the company is less efficient and effective in terms of generating sales by use of assets. To conclude, it could be said that the company achieved better probability by a worse use of ope rating assets. However, the stance of the company is good and becoming better if we emphasize the increase in RNOA over the two years. h. 2009 ROE = $441 /[($1,572+ $1,210)/2] = 31. 7 % Non operating return: ROE – RNOA = 31. 7 % – 13. 3 % = 18. 4 % 2008 ROE = $401 /[($1, 210 + $ 1,115)/2] = 34. 5 % Non operating return: ROE – RNOA = 34. 5 % – 13. 1 % = 21. 4 % The ROE is decreased from 34. % to 31. 7 % over the two years. The difference between ROE and RNOA shows that there is non-operating return. Non-operating returns shows the effect of debt to finance operating assets. Moreover, it shows that Nordstrom uses liabilities or debt to increase operating assets and earnings. Nordstrom uses debt and the cost of the debt is less than the earnings, therefore it is beneficial for the company. i. Net non-operating obligations 2007: $261+ $2,236 = $2,497 2008: $275+$24+$$2,214 = $2,513 2009: $356+2,257= $2,613 FLEV 2009: [($2,613+$2,513)/2]/$1,390 = 1. 84 2008: [ $2,523+$2,497)/2]/$1,163 = 2. 15 It shows that Nordstrom has $1. 4 of non-operating liabilities for every dollar of shareholder’s equity. The company has less financial leverage compare to year 2008. Additionally, the company does not have non-operating assets; FLEV measure can be used as company’s debt-to-equity ratio too. Spread 2009: 13. 3% – ($85/$2,563) = 10. 0% 2008: 13. 1% – ($81/$2,505) = 9. 9% Nordstrom’s RNOA earned 13. 3% and 13. 1% in 2008 and 2009, while the company paying only 3. 3% and 3. 2% for its debt. Therefore, it means that the company operating return exceeds the cost of borrowing. Non-operating return 2009: 1. 84 x 10. 0% = 18. 4% 2008: 2. 15 x 9. 9% 21. 3% j. Nordstrom| TJX| Return on equity| 31. 7%| 48. 3%| RNOA| 13. 3%| 38. 3%| NOPM| 6. 1%| 6. 1%| NOAT| 2. 1%| 6. 28%| Non operating return| 18. 4%| 10. 1%| FLEV| 1. 84| 0. 29| Spread| 10. 0%| 34. 9%| The ROE of Nordstrom is 31. 7% and TJX 48. 3% show that both of the compani es are very profitable. The companies are very different than each other in terms of strategies. Nordstrom mostly uses leverage in order to increase the returns; on the other hand, TJX uses mostly stockholders equity and less leverage. Both of the companies have the same NOPM at 6. 1% that states that both companies make 6. 1 cents after tax for every dollar of sale.Furthermore, TJX has better operating asset turnover (NOAT) than Nordstrom, which shows that TJX is converting its operating assets to cash three times faster than Nordstrom. RNOA is calculated by multiplying NOAT and NOPM that is 13. 3 % for Nordstrom and 38. 4 % for TJX. The non-operating return is different for companies. The numbers are 18. 4 % for Nordstrom and 10. 1 % for TJX. The numbers show that Nordstrom has more leverage than TJX. Nordstrom’s FLEV is much higher than TJX which shows that TJX has less obligations and leverage than Nordstrom with regarding to equity. TJX’s spread is 3 times higher than Nordstrom.Although both companies have relatively close non-operating expenses to non-operating obligations number ( cost of debt ), the difference in Spread is related to RNOA numbers. Additionally, TJX does not have many obligations, which lead to low non-operating return. k. In order to improve RNOA in 2010, the company can improve its NOPM or its NOAT. Nordstrom managements have to improve their sales and reduce the expenses so as to improve NOPM. Decreasing the amount of operating assets such as long-term fixed assets can increase NOAT. Additionally, they can try some ways to collect account receivable quickly, sell inventories quickly nd sell some property or equipment. In terms of liabilities, Nordstrom managements can defer to pay bill in account payable and income tax liabilities. These methods may improve Nordstrom’s RNOA. Conclusion Nordstrom Inc. ’s RNOA ratio shows that the company’s financial performance in 2009 is slightly better than in 2008 . More specifically, the RNOA is increased from 13. 3% to 13. 1 % over the two years but its ROE is decreased. The difference between ROE and RNOA shows that there is non-operating return. Non-operating returns shows the effect of debt to finance operating assets.Moreover, it shows that Nordstrom uses liabilities or debt to increase operating assets and earnings. Nordstrom uses debt and the cost of the debt is less than the earnings, therefore it is beneficial for the company. Based on the data from balance sheet, on the other hand, the managements utilized more liabilities in 2009 than 2008 to increase the returns.. That means Nordstrom’s managers did good jobs in financial performance in 2009. However, compared with others more successful companies in the same industry, such as TJX, Nordstrom managements should try others effective methods to improve their returns.

Demonstrative Speech

Ever run out of crafts to do? Want to make a cool gift for someone? Want to get in touch with your creative side? Making a duct tape wallet is the answer. It’s a fun way to make a new project to keep busy while making something for someone else or yourself. For my presentation will be making a duct tape wallet. I will be starting with materials that will be needed, the steps to construct the wallet, and options to add to personalize it. For your reference the shell is referred to the main part of the wallet. The materials that is need 1.A pair scissors 2. Ruler 3. A piece of plastic or clear Scotch tape(optional) 4. Also, you will need 1 solid color and 1 printed duct tape. In this case I am using a solid pink and zebra printed tape. Now the steps 1. Cut 8 strips of the solid pink duct tape. The measurement is 8 ? inches long. 2. Once that’s done lay one strip sticky side up, then line up another strip( color side up) place it a little more than half way on top. There w ill be a little strip of sticky still showing. 3. Now place another strip on top of the sticky part that’s showing.Flip it over and continue to cover the sticky part on the bottom until you use all the strips of tape. You will be flipping it back and forth to complete the shell of the wallet. 4. When done the sticky parts that are left, fold them over. 5. Now clean up the edges. The length of your wallet should be 8 ? inches in length, and it should be 3 ? in width. When that is finished you will have the shell of the wallet. 6. Cut a strip of the printed tape measuring the length your wallet, and cut that piece into 2. 7.Put one of the printed strips on the top of the shell to create a printed border. 8. Cut 2 pieces of 4inch pick tape, to tape the sides of the wallet together. 9. Now it’s time to start the pockets. Cut 6 strips of 4 inch of any color tape besides the color of your actual shell (in this case the printed tape is used). Stick two pieces of tape together , after completion you should have 3 assembled pieces. Measure the 3 pockets to make sure they are exactly the same size 10. Cut small strips to tape down to the shell.Make sure after taping the first pocket down that there is a substantial amount of space so there will be room to put credit cards in. After, place the next on top and tape down and continue until the last one is taped down. 11. To create the secret pocket, cut 3 strips of 4 inches. Place the 2 pieces of tape on top of each other, once that’s done put the last piece on the very top of the pocket and fold it. Secure it with strips of tape on the three sides. 12. Get the other strip of the printed tape you cut earlier and place at the bottom to create the border. 13.Then cut 3 ? inches of the printed tape to finish up the printed border of your wallet. When that is done, you have made your own wallet. Options to add to the wallet * To make the I. D holder you will need a piece of plastic or 2 pieces of scotch tap e. Place over the secret pocket and secure it with small strips of tape and you has an I. D holder. * You could also add Velcro keep the wallet closed. Never knew that having a few pieces of duct tape could turn into something so fun and exciting to do. It’s a good way to be creative and make a craft for someone or yourself.

Qualitative and Quantitative Perspectives in Conducting Research Essay

Qualitative and Quantitative Perspectives in Conducting Research - Essay Example There is a relevant connection that exists between qualitative and quantitative approaches as far as research in social science is concerned and the relationship has been empirically and theoretically demonstrated by many researchers that have dealt with different issues(Ragin, 2008). The recent years have been saturated with widespread debate within the social sciences that is associated with the relative advantages in respect to qualitative and quantitative strategies for research, and the opinions different researchers have vary significantly. There is a section that considers the two methods to be totally independent and in relation to the unconventionalideas, there is a section that prefers to blend both approaches in their research activities. Bryman (1998) advocated an approach that would entail the best parts of both approaches and was therefore of the opinion that both qualitative as well as quantitative approaches should be combined.`According to Niglas (2000), none of the variations that are in existence between quantitative and qualitative methodologies are the form of diametric contradictory practices but instead constitute a continuous scale which qualitative and quantitative research are not arranged in a manner that is basic. Secondly, there still exists quite a good number of researchers that are inclined towards the qualitative approach who take a realist ontological position and quantitative researchers whose ontological position is associated with idealism and relativism that associated with realism.

Ethical Leadership and Decision Making Research Paper

Ethical Leadership and Decision Making - Research Paper Example Moreover, based on the accepted fact that success is not the final outcome of every attempt, it is the leader who ensures rescuing people from de-motivation rising from failure that most stands apart from the rest. The report herein develops an assessment of a leader that has served as a mentor to give meaning and understanding of effective leadership.   During work experience in the Army, Major General (Ret.) Charles McCartney’s the leadership style influenced me greatly. McCartney well understood the privilege of leadership being responsibility with visionary collaboration and teamwork to gain an overall level of success. Thereby, this report develops an assessment on Major General (Ret.) Charles McCartney’s various dimensions of leadership and will provide the review of the fact that successful leadership assumes all capabilities to lead its people to succeed as a combined goal. Management science has undertaken the considerable assessment of the leaders from vario us dimensions; for instance Behavioral factors, Transformational, Situational, Trait, Charisma along with the power and influence etc. Moreover, it is based on the early assumption that leaders are born and not made; however, contemporary theories assert that effective leader offers apart from direction to success also offer great learning opportunities (Browne & Keeley, 2012). These learning opportunities are presented as two types of leaders as mentioned below: (Northouse, 2007) Hence, leadership can be learned as well. In this, one can see that trait, skills and values from McCartney’s style offer the reader a great chance to learn. The distinctive formats of the transformational or transactional leadership complimented with the power available to a given leader all work to facilitate the outcome from the leader. Broadly, leaders that are ultimately effective in leadership have to account for an optimum mix of three main factors (Barton, Grant, & Horn, 2012): Decision maki ng styles mix Day to day behavior Transformational and transactional leadership style It is worthy of mention, due to the fact that each dimension mentioned above has its own variation to offer and effective leaders formulate the mix of each dimension’s offering suiting to the need of the situation and in the overall best interest of follower; though this may not be suiting to the need of the certain people. Hence, the effective leadership is also one to constantly learn and evolve from the challenges with the passion for success by adapting to the need for an hour.   For assessing Major General (Ret.) Charles McCartney with respect to his alignment with the leadership’s dimension, the below roadmap will offer an effective guide in understanding such nuances: (Colquitt, Lepine, & Wesson, 2012)  Ã‚  Decision Making Styles Leader’s decisions ultimately decide the fate of the follower. Moreover, the fact that makes the decision making more crucial for the leade rs, especially in a critical situation where chances of loss equally exist, comes to even more prominence.  Ã‚  

Should it be lowered Essay Example | Topics and Well Written Essays - 750 words

Should it be lowered - Essay Example During an interview by CBS News, John McCardell, former president of Middlebury College said that the drinking law was an abysmal failure in eliminating underage drinking, it drove the habit underground behind the scenes, into more risky and unmanageable settings. These settings included basements, fraternity houses and locked dormitories where minors hid from the law and adults. The law created a dangerous culture of irresponsible and reckless habits, unsupervised binge and excess drinking. For example, minors gulp bottles of beer in seconds trying to perfect the art of getting drunk quickly before they are discovered by adults (Johnson & Alex, 46). The irresponsible drinking behaviour endangers the lives of minors because they cannot access emergency medical care during their drinking sprees as they hide themselves. They also fear reporting alcohol related medical emergencies since it is breaking the law. The drinking age should be lowered because the current law is unworkable, difficult to enforce and doesn’t stop minors from drinking. The enforcement of this law is routinely avoided and results in two or three arrests out of thousands of violations. The police aren’t in apposition to stop all cases of underage drinking, they can only contain it. The police department admitted that the law is ineffective. The police tried different techniques to curb drinking by minors but only few techniques succeeded (Toomey & Rosenfeld, 57). For example, they would find a party where minors were drinking and seal the house. They would write tickets to all the minors coming from the house and report them to their parents. All these efforts only pushed underage drinking underground instead of eliminating the habit. Pushing the drinking habit underground is endangers lives of the minors because encourages irresponsible drinking extremes and other antisocial behaviour such as drug abuse and crime. According to Ellis Henican (author of

I've attached the file Essay Example | Topics and Well Written Essays - 250 words - 2

I've attached the file - Essay Example joyed as a result of concentrating activities near a certain facility for instance, a source of raw materials, transport facility, an institution of higher learning and many others. Localization aids in reducing an enterprise’s expenses such as transport cost and damage on raw materials resulting from long distance transportation. Spatial equilibrium assumption is the notion that firms and workers are different across space and the research on urban areas is distinct from that of nations. Basically, urban economists recognize the existence of agglomeration economies which arise when productivity increase with density; however, assessing the enormity of those economies is a real challenge. The assumption of the existence of a baseline spatial equilibrium provides a map to understanding the role of agglomeration on the economy. In essence, the assumption gives a projection of how workers and firms can cooperate to ensure maximum benefits. Additionally, one gets an overview of urban economics which assists in handling the economic issues at hand. Consequently, the assumption assists in identifying the empirical regularities in urban economics, for instance, people are more productive in dense population and that high wage in urban areas are usually counterbalanced by high cost of

Operations Management Assignment in Ritz Carlton Hotels Essay

Operations Management Assignment in Ritz Carlton Hotels - Essay Example Ritz Carlton considers that the clandestine to efficient quality management stays to employ efficient staff which recognizes the guests’ requirements and provides them immediately (Case Study, p. 301). In the hospitality or service-care industry, quality is regarded as the extreme significance but unluckily up to now the spotlight has merely been on preparation lead staff to make sure guest satisfaction (Class Note 1 ppt, Slide 17). If a customer resides at the hotel, his opinion of quality is describes by the reliability, declaration and compassion. Ritz Carlton has situated this seeming quality as its main target and also for achieving it stresses on predictability, veracity as well as timeliness. All these three factors collectively lead to greater level of customer satisfaction (Case Study, p. 302). When these service customaries have been resolved the next stride is to determine the measurement methods for monitoring how well these customaries are being realized. The most important problems faced by the services and hospitality industry in respect to implementing TQM are identifying measurements as well as process improvement techniques that generate quantifiable data (Class Note 2 ppt, Slide 6). In effect, some measurement methods have previously been adopted by different hotels, such as Ritz Carlton. Various advanced technologies are being used in order to get maximum advantages or benefits by employing different automated building as well as safety systems to different types of a computerized reservation system. In this context, the Ritz Carlton has come up with greater user-friendly tools and mechanisms in order to enhance the existing level of customer satisfaction (Case Study, p. 302).1The hotel industry is expected to obtain a higher level of quality improvement even wit hout using different sophisticated statistical tools and techniques which are generally utilized by the production and manufacturing industries. Ritz Carlton, after achieving the â€Å"Baldridge award†, the organization has  decided to lower the cycle time. This is the time holdup between recognizing the need of the customer and satisfying that need.  

Analysis of managerial functions of an existing company Term Paper

Analysis of managerial functions of an existing company - Term Paper Example The paper is ananalysis of planning and leading techniques that form part of Borla. Planning as a core function of management remains an inevitable recipe in success (Griffin, 2012). The automobile industry remains one of the business opportunities with great challenges. Therefore, managers must make flexible and comprehensive policies, which promote successful delivery of services. Borla’s 25 years of outstanding performance has continually allowed it to expand to different markets. Evidently, no management can effectively expand its operations without succinct management plans. Same to other institutions, the planning process at Borla is top notch. The micro and macro level spectrum takes cognisance of the current market, intended recipients and long-term objectives. Borla’s search for a perfect and accessible manufacturing space has never stopped. Since conception, the company has shifted location from one place to another. Certainly, this is not a sign of weakness, but rather thestrength to find a better location for proficient production. Founded in 1979, it did not stay in New York, NY for long. In 1984, it moved to Oxnard, CA setting camp for 25 years and later moved to Johnson City, TN in 2009. Interestingly, it did not cease operations in the former cities; nevertheless, it facilitated a continuous growth in marketing and sales not forgetting R&D departments in Oxnard. Indeed, this is a clear strategic balance of growth. A good company should not move all of its operations to the next market no matter how promising it looks. Evidently, Borla’s vision is to provide world-class products that surpass customer’s expectations. For many companies, action ends in the promises; however, Borla has given assurance from differen t perspectives. Currently, the company is expanding its markets to China and Russia. Although challenges of

Agency Dream Position for Advertising Essay Example | Topics and Well Written Essays - 250 words

Agency Dream Position for Advertising - Essay Example The skills necessary for this position include proficient multilingual skills. There is no need for talent but creativity is very essential for this position (Rachel Deahl, 2013). This means that one should be able to craft words and ideas by seeing images, slogans, and products. Social skills are necessary in addition to excellent organization and communication skills. Good administration as networking skills will be necessary if one is to succeed in this job. Self-motivation, flexibility, working under pressure, ability to multi task, resilience to absorb both internal and external criticism is also required. Good researching skills as well as an interest in popular culture and current trends is very necessary (Paul Owiti, 2014). I believe this position will suit me because of my good networking skills as well as my ability to multitask. I am very social, intelligent, sharp and always in tandem with the latest technology. I have good communication skills and I am excellent when it comes to team work. For all the above reasons, I believe I qualify to be a top copywriter. AGCAS Editors. (2013, December 13). Prospects: The UKs Official graduate careers website. Retrieved 2014, from Advertising copywriter: Entry requirements:

Impact of Radiation After Hiroshima Essay Example | Topics and Well Written Essays - 500 words

Impact of Radiation After Hiroshima - Essay Example Mrs. Nakamura's hair begins to fall out, and she and her daughter become ill. At the same time, Mr. Tanimoto, weak and feverish, becomes bedridden. Miss Sasaki is transferred to the Red Cross Hospital in Hiroshima and placed under the care of Dr. Sasaki. Dr. Sasaki notices small hemorrhages all over her bare skin, a mysterious symptom many of his patients are beginning to show. He later discovers that this is the result of her low white-blood cell count, another symptom of radiation sickness. Dr. Fujii is living at a friend's house in nearby Fukawa and is beginning to treat patients again," ("Hiroshima", p.1). From an individual standpoint, the dropping of the atomic bomb would not be the only traumatic thing that the survivors would have to endure for however long. In that respect, survivors would also have to suffer the ramifications of radiation poisoning. Often times used as a treatment option for those suffering from cancer, exposure to radiation can have very harsh results, not just for the diseases that its meant to kill, but also the surrounding internal system of the person. Since every individual person is different, their levels of being able to recover from radiation exposure can be drastically different, but equally as intense. For the citizens of Hiroshima, there would be short term, as well as lo

History of Special Education Essay Example for Free

History of Special Education Essay It was not until the middle decades of the eighteenth century that Europe turned, for the first time, towards the education of persons with disabilities. The spirit of reform, crystallized in the philosophy and precepts of the European Enlightenment, created new vistas for disabled persons and the pioneers who ventured to teach them. Although special education emerged in a number of national contexts, France was the crucible where innovative pedagogies to assist those deaf, blind, and intellectually disabled emerged and flourished (Winzer, 1986). Following the French initiatives, movements to provide services for those in the normative categories of deaf, blind, and intellectually disabled were contemporaneous in continental Europe, Britain, and North America. Prior to the mid-eighteenth century, individual deviations were rarely tolerated and little was done for those who in some way disrupted the norms of a society. Disability was not an innocuous boundary; rather, it was a liability in social and economic participation. People perceived as disabled – whatever the type or degree – were lumped together under the broad categorization of idiot, scorned as inferior beings and deprived of rights and privileges. This early period is replete with innumerable stories of healing, many imbued with an Indeed, many special educators seem curiously disinterested in the foundations of the field; historical knowledge is learned incidentally and unintentionally (Mostert Crockett, 1999–2000; Winzer, 2004). To some, history becomes increasingly selective, with the past made over to suit present intentions; others speak to the ‘lack of history’ (Renzaglia, Hutchins Lee, 1997, p. 361). At the same time, some contemporary writers disparage earlier events, programmes, and pioneers in favour of contemporary models. Some point to fossilized traditions; others hold that if today’s inclusive movement embodies the best ideals of social justice then the past, by extension, had to be unjust (Winzer, 2004). Implicit to this position is a steadfast unwillingness to learn from the wisdom of the accumulated past. The middle decades of the eighteenth century witnessed the pervasive influence of the European Enlightenment. While the intellectual project of the Enlightenment was to build a sound body of knowledge about the world, its humanitarian philosophy prompted ideas about the equality of all people and the human responsibility to take care of others, particularly individuals outside the private circle of the home and the family. Reform movements sprang up, aimed at the improvement of the well-being of groups of individuals, varying from poor people and slaves to prisoners, the insane, and disabled people. In France, the Abbe Michel Charles de l’Epee (sign language) assimilated Enlightenment ideals of equality, as well as novel concepts about language and its development. He joined these to the sensationalist philosophy of John Locke and the French philosophers to promote innovative approaches to the education of deaf persons. If de l’Epee’s doctrine promoting a silent language of the hands was not unprecedented, it was nevertheless revolutionary in the context of the times. In devising and instructing through a language of signs, the Abbe gave notice that speech was no longer the apex of instruction in the education of deaf persons. Simultaneously, he influenced and guided innovations for other groups with disabilities, specifically those blind, deaf blind, and intellectually disabled. Following de l’Epee’s successful mission with deaf students, Valentin Hauy in 1782 initiated the instruction of blind persons using a raised print method. Somewhat later, in 1810, Edouard Seguin devised pedagogy for those considered to be mentally retarded. The French educational initiatives travelled the Atlantic to be adopted by pioneer educators in US and Canada. Rejection of French innovations did not imply that British advances were minor. On the contrary. Building on the prerogatives of earlier pioneers, teachers and clergy such as Thomas Braidwood and John Townsend promoted education for deaf persons. Schemes to assist other groups soon followed. By the close of the eighteenth century in Europe and Britain, the instruction of disabled persons was no longer confined to isolated cases or regarded merely as a subject of philosophic curiosity. Permanent facilities were established, staffed by a cadre of teachers experimenting with novel and innovative pedagogical methods. The French endeavors formed the core of systems and methods adopted in the United States and much of British North America (Canada). In the latter, however, the Maritime provinces of Nova. Scotia and New Brunswick initially adopted British pedagogy (see Winzer, 1993). Founded on a humanitarian philosophy, evangelical commitment, and unbounded philanthropy, they established from 1817 onwards a complex of institutions designed to cater to the unique needs of exceptional individuals. Pedro Ponce de Leon(1578) in Spain created the first documented experience about education of deaf children (from nobility) AbbeCharles Michel de l’Epee(1760) in Paris created the â€Å"Institutpour sourds†(Institute for deaf) Louis Braille invented â€Å"Braille script†(1829). Pioneers in Special Education Jean-Marc Itard [pic] DECS Order No. 1, s. 1997 Organization of A Regional SPED Unit and Designation of Regional Supervisor in-charge of Special Education -DECS Order No. 14, s. 1993 Regional Special Education Council -DECS Order No. 26, s. 1997 Institutionalizing of SPED Programs in All Schools -DECS Order No. 5, s. 1998 Reclassification of Regular Teacher and Principal Items to Special Education Teacher and Special School Principal Items DECS Order No. 11, s. 2000 Recognized Special Education (SPED) Centers in the Philippines. -REPUBLIC ACT NO. 7277 AN ACT PROVIDING FOR THE REHABILITATION, SELF DEVELOPMENT AND SELF-RELIANCE OF DISABLED PERSONS AND THEIR INTEGRATION INTO THE MAINSTREAM OF SOCIETY AND FOR OTHER PURPOSES http://www. deped. gov. ph/default. asp SPED teachers to sharpen tools in a national conference PASIG CITY Teachers and school administrators handling children with special learning needs are expected to further hone their skills during the 2013 national conference on Special Education (SPED) being put together by the Department of Education (DepEd). â€Å"We are opening the conference to public and private school teachers and administrators and other SPED service providers in line with our policy to continue to create a culture of inclusive education,† said Education Secretary Br. Armin A. Luistro FSC. The conference aims to engage teachers and school administrators in the discussions of the evolving practices in handling SPED learners with the end-view of producing inclusive policies. Preparations are now underway for the conference to be held in November in Iloilo which carries the theme â€Å"Special Education: A Bridge to Inclusion. † One of the conference highlights is the awarding of prizes to the winners of the Search for the Most Outstanding Receiving Teachers, as well as Outstanding SPED Teachers and SPED Centers. The national finalists will be awarded certificates while the national winners will receive plaques of appreciation and cash prizes. The conference will also be a venue to discuss current trends, skills and practices on the management of inclusive education schools. â€Å"We can also expect presentations on researches on inclusive education which others may adopt or adapt,† added Luistro. The Philippines, as a signatory of the Salamanca Statement of Action on. Special Needs Education, recognizes the principle of equal educational opportunities for â€Å"all children regardless of their physical, intellectual, social, emotional, linguistic or other conditions† (Salamanca Statement, 1994). This framework was adopted in the Philippines through the Department of Education Culture and Sports (now DepEd) Order no. 26 which institutionalized inclusive education. The order required the organization of at least one SPED center in each division and implementation of SPED programs in all school districts where there are students with special needs. Special education started in the Philippines in 1907 with the establishment of the Insular School for the Deaf and Blind. The school started with 92 deaf persons and one blind person. Today, DepEd serves 11 types of children with special needs in public schools. As of school year 2006-2007, there were 162,858 students with special needs at the elementary level, 51% or 83,231 of whom are in the gifted program. The remaining 49 % were students with various disabilities such as hearing impairment, visual impairment, learning disability, mental retardation, behavior problem, autism, and cerebral palsy. Students with learning disabilities comprise 25% of students with special needs. However, up to this date, many children with learning disabilities, mental retardation, and autism remain unidentified in public schools (DepEd, 2006a). The inclusion of children under these three categories of special cases were among the major concerns of the TEEP-SBM-Inclusive Education (IE) project. Historical Foundation of Inclusive Education Based on the book of Teresita G. Inciong, Yolanda S. Quijano, Yolanda T. Capulong, Julieta A. Gregorio, and Adelaida C. Jines entitled Introduction To Special Education, it was during the year of 1902 and under the American regime that the Filipino children with disabilities were given the chance to be educated. Mr. Fred Atkinson, General Superintendent of Education, proposed to the Secretary of Public Instruction that the children whom he found deaf and blind should be enrolled in school like any other ordinary children. However, the country’s special education program formally started on 1907. Mr. David Barrows, Director of Public Education, and Miss Delight Rice, an American educator, worked hard for this program to be possible. Mr. Barrows worked for the establishment of the Insular School for the Deaf and Blind in Manila and Miss Rice was the administrator and at the same time the teacher of that school. Today, the school for the Deaf is located at Harrison Street, Pasay City and the Philippine National School for the Blind is adjacent to it on Polo Road. During the year 1926, the Philippine Association for the Deaf (PAD) was composed of hearing impaired members and special education specialists. The following year (1927), the Welfareville Children’s Village in Mandaluyong, Rizal was established. In 1936, Mrs. Maria Villa Francisco was appointed as the first Filipino principal of the School for the Deaf and the Blind (SDB). In 1945, the National Orthopedic Hospital opened its School for Crippled Children (NOHSCC) for young patients who had to be hospitalized for long periods of time. In 1949, the Quezon City Science High School for gifted students was inaugurated and the Philippine Foundation for the Rehabilitation of the Disabled was organized. In 1950, PAD opened a school for children with hearing impairment.

Comparison of Housing Loans from SBM and UBI

Comparison of Housing Loans from SBM and UBI This research article is aimed to compare and critically analyse the housing loan schemes offered by State Bank of Mysore and Union Bank of India, Bangalore Branch, India OBJECTIVE OF THE STUDY To recognize and evaluate literature relevant to the theories of home loans. To evaluate the general awareness of the various schemes currently offered by HFCs / banks and the purpose of which housing loan are given. To perform comparative analysis for housing loan schemes for State Bank of India and Union Bank of India. To study the documentation process in HFCs (Housing Finance Companies) and critically evaluate problem faced by clients during the process of lending housing finance in banks. To assess and suggest appropriate Conclusions and Recommendations with regards to housing loan schemes offered by SBM or UBI Bank to the customers. Introduction This article explains the housing loan schemes offered by banks in order to bolster the current housing finance situation in India and to taper down the margin between the housing demand and the availability of houses, The National Housing Bank was set up in the year 1988. This was done by keeping in mind that a home seeker though does have a desire for a house but lacks the resources for construction or buying it. To give an enhancement to private housing finance institutions the National Housing Bank came into the picture. It is a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions. While it is important to keep in mind that the National housing Bank itself does not give loans or finance individuals or a party as such. It is only a corporate body to promote, establish, support or aid the housing finance institutions.   India have been serving the people for around three decades and providing various housing loan schemes according to the customers various needs at attractive and reasonable interest rates. In order to facilitate the best housing loan schemes at the least interest rate this research article will help in critically evaluating and comparing the schemes of housing loan for two banks i.e. State Bank Of India and Union Bank of India, Bangalore, India in order to know the best offers provided by the banks as well their performances in order to retain in competition within marketplace. This research article analyses the effectiveness and efficiency of housing loan schemes provided by SBM and UBI bank which will provide its customers a attractive interest rates in on housing loan. Company Overview of SBM and UBI State Bank of Mysore was formed as Bank of Mysore Ltd. in 1913 under the benefaction of the former Government. Of Mysore, on the illustration of the banking commission headed by the great Engineer-Statesman,  Late Dr. Sir M.Visvesvaraya. Subsequently, in March 1960, the Bank became an Associate of State Bank of India. State Bank of India holds 92.33% of shares. The Banks shares are listed in Bangalore, Chennai, and Mumbai stock exchanges. Branch Network The Bank has a widespread network of six hundred eighty two only (682) branches (as on 30.09.2009) and 20 extension counters spread all over India which includes 5 specialised SSI branches, 4 Industrial Finance branches, 3 Corporate Accounts Branches, 4 specialised Personal Banking Branches, 10 Agricultural Development Branches, 3 Treasury branches, 1 Asset Recovery Branch and 8 Service Branches, offering wide range of services to the customers. Human Resources The Bank has a dedicated workforce of 9720 employees consisting of 3169 supervisory staff, 6551 non-supervisory staff (as on 31.03.2008). The skill and competence of the employees have been kept updated to meet the requirement of our customers keeping in view the changes in the environment. (Source: http://www.statebankofmysore.co.in/profile.htm) Union Bank of India UBI Bank is consistently dedicated to bind and maintain its distinctiveness as a foremost, pioneering cost-effective Bank, by means of a down to business approach to the shifting requirements of the general public. A extensive scale of goods and services has been resulted and also made accessible to its precious customers to cater the least of their requirements. Today, with its well-organized, value-added services, continual intensification, reliable productivity and expansion of innovative technology, UBI bank has ensured comprehensive shopper delight, keeping up its image,  Ã¢â€š ¬Ã…“GOOD QUALITY POPULACE TO BANK WITHâ‚ ¬?.   The key to the triumph of any organisation lies with its personnel or manpower. No wonder, UBI dedicated tem of dynamic and enthusiastic skilled personnel consists of 26000 thousand employee who contribute to the maximum in order to ensure growth for UBI. The bank went for Initial Public offer (IPO) on 20th august 2002 which was followed by the publi c offer made on February 2006.Government of India holds fifty five percent (55.43%) share capital of Union Bank the current share capital holding of the bank is forty four point five seven percent 44.57 % which includes Individuals and Others. Reason behind choosing the topic for the study Housing is the one of the main priority sector needs a lot attention now days the interest rate of the housing loan is raising very high customers are worried about the rates due to indefinite fluctuation. This study is about the comparison of the various schemes and the interest rate of the two banks State Bank of Mysore and Union Bank of India. After this study we will be able to know that which bank is more convenient in the lending of loan. Different schemes of the bank are convenient in different manner according to customers priority. The study is important also in case of comparison of the many other banks schemes to these two banks. Literature Review Meaning of Loan: Loan is a method of lending under which bank gives credit to a borrower for a fixed period and for a specific purpose. Loan are promises for future payment, they have to be repaid in periods beyond a year and are therefore long-term liabilities 3.3Types of Loan: Generally bank grant loans for different period like shorts, medium and long and for different purpose. Broadly, the loans granted by banks are classified follows Bank Loans (1) Short-term Loans: Short-term loans are granted to meet the working capital needs of the borrowers. These loans are granted against the securities of tangible assets mainly the movable assets like goods and commodities, share debenture, etc. (2) Term Loans: Medium and long-term loans are usually called term loans. These loans are granted for more than a year and are meant for purchase of capital assets for the establishment of new units and for expansion or diversification of an existing unit. Loan Procedure: Generally various banks adopt following procedure for loan. Appraisal of Loan Submit the Application Documentation Convene to loan applicant To Issue Draft or Pay order Submit the Application: First of all the loan borrower should submit application to the particular bank. The borrower is required to fill out a common application form, which seeks comprehensive information about proprietors and loan borrowers back ground and his business network and as well as his cost of project and economic consideration. Appraisal of Loan: The bank follows good appraisal system for effective lending and to make easy repay in future way. The main task of the lending bank is to make sure that the income generated from the loan is sufficient to repay the loan installments according to the terms and conditions of amortization. The risk involved in term lending is much more than the risk in short-term lending because the loans are given to new undertaking, or for the modernization and expansion of existing undertaking and for loan period. Before sanctioning any loan a banker should assure himself that the borrowing concern shall be able to earn sufficient income to pay the loan installments. The methods of analysis and standard to be adopted for an appraisal of loan are more similar to investment decision than to short-term lending. The appraisal of loan included projection of future trends of output, sales estimated of costs, returns and flow of funds. It is extremely difficult to have a clever cut formula for the appraisal of term loan since many factors have to be considered such as the type of borrowing bank and its activities, the markets potential, its management, and financial position. The amount of loan and the period of its repayment. Another important factor is whether to give weight age to profitability or to its broad economic significance in the development of the economy. A term loan may be appraised by considering four different aspects of the proposal. They are: Technical feasibility Economic feasibility Managerial competence Financial feasibility Documentation: After completing the step of submit the application and appraisal system of loan. Then loan applicant should collect the document for borrowing loan, every documents and requirement are needed according to the co-operative bank rate. If the loan applicant wants to borrow loan of huge amount, so at a time strong documents are presented by loan applicant against bank like evident of shareholders, original and photocopy of propertys documents, photocopy last three years income tax returns file, etc. if loan applicants has no any recommendation from share holder so firstly the bank becoming share holders of his bank by issuing share to them, so above types of documents are used to borrow loan and advances from the bank. Convene to Loan Application: After collecting the necessary documents, an officer of the recipient bank review it to ascertain whether it is complete for processing, when the application is considered complete. Then the co-operative bank held meeting of his loan applicant and sanctioned the particular loan. Generally this meeting is convened on Monday and Thursdays in every week. Otherwise expected it in other contingent situation and gives date, day and time for delaying particular meeting. To Issue Draft or Pay order: At the last stage is that, after convening of loan applicant and sanctioning loan, borrower should pay its stamp duty, margin and one installment of loan, then in the stamp document or stamp procedure. Then bank gives to them pay order or draft. If the any loan borrowers want to purchase machinery or vehicle from out of city so he need quotation of that particular company, and finally bank made draft of companys name otherwise if the quotation of city area so at a time the co-operative bank made pay order of companys name. Them it gives to company through loan applicant. Thus above procedure is followed by the loan applicant, who wants to borrow loan from banks and satisfied his goal or objectives. 1.) In December 2006 Fulbag Singh and Reema Sharma had studied about the housing Finance in India. Housing, as one of the three basic needs of life, always remains on the top priority of any person, economy, government and society at large. In India, majority of the population lives in slums and shabby shelters in rural areas. From the last decade, the Government of India has been continuously trying to strengthen the housing sector by introducing various housing loan schemes for rural and urban population. The first attempt in this regard was the National Housing Policy (NHP), which was introduced in 1988. The National Housing Bank (NHB) was set up in 1988 as an apex institution for housing finance and a wholly-owned subsidiary of Reserve Bank of India (RBI). The main objective of the bank is to promote and establish the housing financial institutions in the country as well as to provide refinance facilities to housing finance corporations and scheduled commercial banks. Moreover, f or the salaried section, the tax rebates on housing loans have been introduced. The paper is based on the case study of LIC Housing Finance Ltd., which analyzes region-wise disbursements of individual house loans, their portfolio amounts and the defaults for the last ten years, i.e., from 1995-96 to 2004-05 by working out relevant ratios in terms of percentages and the compound annual growth rates. A relevant chart has also been prepared to highlight the results. 2) In May 18, 2007 Michael La Cour-Little had studied about the Economic Factors Affecting Home Mortgage Disclosure Act Reporting. The public release of the 20042005 Home Mortgage Disclosure Act data raised a number of questions given the increase in the number and percentage of higher-priced home mortgage loans and continued differentials across demographic groups. Here we assess three possible explanations for the observed increase in 2005 over 2004: (1) changes in lender business practices; (2) changes in the risk profile of borrowers; and (3) changes in the yield curve environment. Results suggest that after controlling for the mix of loan types, credit risk factors, and the yield curve, there was no statistically significant increase in reportable volume for loans originated directly by lenders during 2005, though indirect, wholesale originations did significantly increase. Finally, given a model of the factors affecting results for 2004-2005, we predict that 2006 results will c ontinue to show an increase in the percentage of loans that are higher priced when final numbers are released in September 2007 3.) â‚ ¬Ã…“The housing finance market has been consistently exhibiting rapid growth in the past few years. Growth has been largely concentrated on urban areas and in the middle to high income groups, focusing on the salaried class. This growth was partly fuelled by the entry of commercial banks seeking asset growth in a sluggish business environment coupled with the tax incentives on housing loans. The banks, with their lower cost of funds, extensive branch network, capability to provide a range of personal banking services and aided by the average low default rates in housing finance, could expand the market considerably. They however, continued to focus on middle to higher income groups. Lower income groups, self employed and the rural population are by and large excluded. While the middle and higher income groups may continue to access conventional housing finance, increasing attention will need to be paid to the needs of the underservedâ‚ ¬?. (Source: Saravanan P. Recent Experiences in the Housing Finance Sector A Study with Reference to India.  Housing Finance International  [serial online]. September 2007; 21(5):45-48. Available from: Business Source Complete, Ipswich, MA. Accessed June 17, 2010) 4.) The innovations in housing finance systems in advanced economies over the past two decades have altered the role of housing sector in business cycle and in the monetary transmission mechanism. It concludes that these changes have spilovers from the hosuing sector to the rest of the economy and have amplified their impact by strengthening the role of housing as collateral. This analysis suggests in economies were developed mortgage markets, monetary policymakers may need to respond over aggressively to developments in housing sectors, within a risk-management approach that treats house price dynamics as one of the key factors to be considered in assuming balnce of risks to output and influence. (Source: World Economic Outlook(International Monetary fund), 2008, ISBN 978-1-58906-719-6) 5.) Today, the housing finance market has evolved into an oligolpolistic structure (SSKI, 20606) with three dominant providers-DFC, the largest housing company, ICICI bank the largest private sector bank, State Bank of India the largest bank in country. According to SSKI India research estimation in 200, the three leading housing credit providers accounted for approximately 75 of the market. Only a few foreign banks are involved and they tend to focus on High net worth individuals.Towards the end of 2005, India saw a graduate inching uo of interest rates. Despite this, close to 85 % of housing credit customers still prefer floating rate of interest.(Source: Housing Finance mechanism in India, 2008, ISBN- 978-92-1-131970-5, [emailprotected] United Nations Human Settlement Programme 2008) 6.) â‚ ¬Ã…“As per a article report published in wall street the trend in housing sector in India as on February 20,2008 were heading for a slowdown. The withdrawal of an Initial Public offering (IPO) by Emaar MGF Pvt. Ltd is an indication of difficulties companies worldwide are having in tapping market. (Source: Kilbinger, Sara Seddon. India Faces Housing Slowdown.  Wall Street Journal Eastern Edition  20 Feb. 2008: B7.  Business Source Complete. EBSCO. Web. 17 June 2010) 7.) â‚ ¬Ã…“The housing market in the Indian metropolitan city of Bangalore. Some problems of housing finance from the viewpoints of families and of public authorities are indicated. It is argued that it is these financial problems that make access difficult for the poorer half of the population of Bangalore to forms of housing other than inner city slums or urban fringe informal housing. Public housing with its unrealistic standards of service provision, but especially its high initial access costs is not well designed to meet the needs of the majority of families. The paper concludes that unless public housing authorities emulate the private housing market they will continue to play a marginal role in housing in a city such as Bangalore. There are signs that this is happening in India with experimentation in both housing finance and lower service standard. (Source: Blore, Ian. Housing and the working class in an Indian metropolis.  Public Administration Development  9.5 (1 989): 557-568.Business Source Complete. EBSCO. Web. 17 June 2010.) 8.) The housing sector in India for several decades faced a number of set-backs, such as an unorganized market, development disparities, a compartmentalized development approach and a deterrent rent control system. There was not even a concerted attempt to understand the housing problem let alone promote it. Reforms introduced in the sector during the 1990s, however, have overturned the situation to a great extent. The designing of a shelter policy, the organization of the housing finance market, the introduction of fiscal incentives, increased public investment, legal reforms and others initiatives have brought about a number of changes in the housing sector. Interestingly, these changes have been concerned with both reducing the housing shortage and increasing the number of quality housing stock besides increased access to various other housing amenities like safe drinking water, good sanitation and household electricity. However, the reform initiatives of the housing sector need t o take deep roots and to go a long way to address the growing incidence of sub-standard and dilapidated housing stock for further minimizing the deprivations of housing amenities. This paper considers a few policy options towards addressing the challenges of the housing sector. (Source: Mahadeva M. Reforms in housing sector in India: impact on housing development and housing amenities.  Habitat International[serial online]. September 2006;30(3):412-433. Available from: Business Source Complete, Ipswich, MA. Accessed June 17, 2010) OPERATIONAL DEFINITION OF THE CONCEPT EMI- Equated Monthly Installment is what a loaner pays the Banks every month towards repayment of loan. It is comprises of principle and interest. EMI = L * r (1 + r) n x 1 (1 + r) n â‚ ¬Ã¢â‚¬Å" 1 12 Interest rate- It is the amount which banks charge along with the principal amount per year on the basis of fixed rate or floating rate. UBI- Union Bank of India SBM- State Bank of Mysore HFC- Housing Finance Company METHODOLOGY The study dwells on both secondary and primary data. The primary data is collected through interviewing staffs of the banks, secondary data is collected through past details of the Housing finance structure, reports, pamphlets, brochures etc Primary research is form of research which includes the gathering of new data using an acknowledged research method. This could be in form of opinion poll, questionaaire, telephonic interviews or personal interview etc For this research article the author has chosen to carry out primary research by collecting data in form of questionnaire or by interviewing SBM and UBI with the support of bank officials or staff members of bank. Secondary Research is referred to data which is not a original creation. This form of data is already available to a researcher in order to carry out the research process in form of websites, journals or newspapers or company annual reports. How Primary data can be collected: 1.) Questionnaire or Opinion Polls: Questionnaire or opinion polls are intended to gather primary data from a sample taken into consideration, with a aim to critically evaluate or analyse the data in form of tabulated results e.g. stastical data or even by simplifying the results in form of a inference of the numeric data. Questionnaire can be performed in several ways such as telephonic interview, Emails, Online surveys or face to face. These methods of opinion polls are elaborated in broader perspective: Telephone interview: This is the most important and widely accepted method of collecting the original and accurate data for resolving the complex issues and providing the accurate solutions. Merit: From the author point of view the main merit of this method is that its more time consuming and a person can explain views more easily which they cannot do sometime face to f ace. Demerit: The demerit of this method could be that the rejection for telephonic interview which doesnt allow the researcher to receive any data for the research. Online Surveys: Surveys nowadays most commonly and widely accepted method of research as it can be presented in many dimension and can be analysed and interpreted based on the requirement of the person and also can be presented in form of tabulation sheets or some analytical software. Merit: This method is very advantageous as a researcher can have a global access from the respondent and its more faster and accurate and easy to administer. Demerit: For this method to have access a user must be well versed with computers as well as its more global method a user should ahve access to internet so that could be a biggest drawback in order to collect data if the respondent dont have knowledge or access to these resources. Personal interview: This form of method is acceptable by everyone as its being designed and implemented based on the convenience of the respondent. A respondent can choose their timing to answer the questionnaires as well its helps in solving the complex issues as it provides the accurate data as well a discussion about the analysis of data from the respondent Merit: The main advantage of face-to-face or direct interviews is that the researcher can accommodate the questions as necessary, classify doubts and ensure that the responses are properly understood, by repeating or rephrasing the questions. The researcher can identify nonverbal clues from the respondent. Disadvantages: The main disadvantage of face-to-face interviews is that geographical limitations may impose restrictions on the surveys and the vast resources that would be needed if such surveys need to be done nationally or internationally. Respondents may feel uneasy about their privacy of their responses when they interact face-to-face with the interviewer. Postal Interview: The most commonly used method of distribution which is fairly easy to administer. The questionnaire and the covering letter will be posted to the sample, usually with a prepaid envelope for returning the completed questionnaire. For this medium short questionnaire will be used. Advantages: A wide geographical area can be covered with the use of postal interview. The respondents use their convenience to fill the form at their own pace. Anonymity of respondents is high. Disadvantages: Any doubts that respondents have cannot be clarified. The return rates of mail questionarres are typically low. Follow up procedures for non responses are necessary in postal interviews. Sampling: Survey provides representative information about a group from which sample was drawn. This qualitative research will involve nonrandom sampling or non-probability sampling where everyone in the population will not have an equal chance to be chosen as part of a sample. The non-probability samples provide good estimates of a population characteristic. Target Population: The target population of my sample will include all bank employees of IS bank. The recruitment of individuals for participation will require the selection of individuals who are employees of IS bank. The sample for the research survey will be selected mostly by these methods: Convenience Sampling: This will be used to identify bank employees who are willing and available for the research survey. As most of the bank employees will be working and will not be available for questioning convenience sampling would be a better choice. Snowballing: This sampling method will be used to identify the first participant. Then that first participant will be asked to refer to other participants with similar characteristics. I have used this method to select bank employees and their friends. It is easier to get representatives for research through this method that has same characteristics. Secondary data can be obtained by: Comparative Case studies: I will go through case studies of competitors who are offering mortgage products in the Turkey market. This will help in understanding their strategies and policies. It will also help in understanding about how they achieve their goal. It will also help in identifying the challenges they faced during marketing their products. Comparative Case Studies helps in comparing two industries and understanding their shortfalls. Hypothesis Since the interest rate on home loan is frequently changing and it is expected that it will rise again by the end of the year 2010. Customers who want to take loan for a long time i.e. more than 15 years and also the big amount are really worried about the payment of high EMI. The problem is mainly for salaried class people who are unable to pay the EMI fixed by the banks on their monthly salary. As the fixed rate of interest is 12.5% now customers are suggested to take loan on floating rate of interest. So hypothesis will be based on the current and future trend of the interest rates of the banks. Analysis of Data Data for analysis will be present in following ways in order to carry out the research as well to do comparative analysis for the subject by giving information in different perspective. Frequency tables  Ã‚   Bar charts, histograms and pie charts  Ã‚   Contingency tables or cross-tabulations   Quantitative and Qualitative data: Qualitative data is form of data which includes the fact and figures such as financial report of a company and Quantitative data is a form of data which can be used analyse the data which is in form of questionnaire and surveys which help in order to analyse the current situation of company and provide the better solutions for company. For this research article author will be using both the data Quantitative as well Qualitative as the research includes both data collection numeric data as well survey or questionnaire data. 3). LIMITATIONS OF THE STUDY If there are advantages of study then obviously there are limitations of that study also. So, some limitations of this study are: This is basically an academic study suffers from time and money constraints. The other limitation includes the sample size, which is small. Analyses of only two banks are done rather than more banks Study is limited to local area of Bangalore, India Since banks are not willing to disclose their client details so the availed information is limited to report, pamphlet, brochure etc. SCOPE OF STUDY The study mainly deals with Housing Finance Sectors. The two important sectors identified for this purpose are companies and client of public and private Housing finance sector in Bangalore, India. AREA OF THE STUDY The study is limited to only one branch of both banks i.e. UBI and SBM situated in Bangalore due to time, money and information availability constraints. Ethics As the research article is focused on banking industry the confedentiaity of the data will be used for academic purposes within the field of study that is housing schemes of two banks and as per the accordance of business ethics. Comparison of Housing Loans from SBM and UBI Comparison of Housing Loans from SBM and UBI This research article is aimed to compare and critically analyse the housing loan schemes offered by State Bank of Mysore and Union Bank of India, Bangalore Branch, India OBJECTIVE OF THE STUDY To recognize and evaluate literature relevant to the theories of home loans. To evaluate the general awareness of the various schemes currently offered by HFCs / banks and the purpose of which housing loan are given. To perform comparative analysis for housing loan schemes for State Bank of India and Union Bank of India. To study the documentation process in HFCs (Housing Finance Companies) and critically evaluate problem faced by clients during the process of lending housing finance in banks. To assess and suggest appropriate Conclusions and Recommendations with regards to housing loan schemes offered by SBM or UBI Bank to the customers. Introduction This article explains the housing loan schemes offered by banks in order to bolster the current housing finance situation in India and to taper down the margin between the housing demand and the availability of houses, The National Housing Bank was set up in the year 1988. This was done by keeping in mind that a home seeker though does have a desire for a house but lacks the resources for construction or buying it. To give an enhancement to private housing finance institutions the National Housing Bank came into the picture. It is a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions. While it is important to keep in mind that the National housing Bank itself does not give loans or finance individuals or a party as such. It is only a corporate body to promote, establish, support or aid the housing finance institutions.   India have been serving the people for around three decades and providing various housing loan schemes according to the customers various needs at attractive and reasonable interest rates. In order to facilitate the best housing loan schemes at the least interest rate this research article will help in critically evaluating and comparing the schemes of housing loan for two banks i.e. State Bank Of India and Union Bank of India, Bangalore, India in order to know the best offers provided by the banks as well their performances in order to retain in competition within marketplace. This research article analyses the effectiveness and efficiency of housing loan schemes provided by SBM and UBI bank which will provide its customers a attractive interest rates in on housing loan. Company Overview of SBM and UBI State Bank of Mysore was formed as Bank of Mysore Ltd. in 1913 under the benefaction of the former Government. Of Mysore, on the illustration of the banking commission headed by the great Engineer-Statesman,  Late Dr. Sir M.Visvesvaraya. Subsequently, in March 1960, the Bank became an Associate of State Bank of India. State Bank of India holds 92.33% of shares. The Banks shares are listed in Bangalore, Chennai, and Mumbai stock exchanges. Branch Network The Bank has a widespread network of six hundred eighty two only (682) branches (as on 30.09.2009) and 20 extension counters spread all over India which includes 5 specialised SSI branches, 4 Industrial Finance branches, 3 Corporate Accounts Branches, 4 specialised Personal Banking Branches, 10 Agricultural Development Branches, 3 Treasury branches, 1 Asset Recovery Branch and 8 Service Branches, offering wide range of services to the customers. Human Resources The Bank has a dedicated workforce of 9720 employees consisting of 3169 supervisory staff, 6551 non-supervisory staff (as on 31.03.2008). The skill and competence of the employees have been kept updated to meet the requirement of our customers keeping in view the changes in the environment. (Source: http://www.statebankofmysore.co.in/profile.htm) Union Bank of India UBI Bank is consistently dedicated to bind and maintain its distinctiveness as a foremost, pioneering cost-effective Bank, by means of a down to business approach to the shifting requirements of the general public. A extensive scale of goods and services has been resulted and also made accessible to its precious customers to cater the least of their requirements. Today, with its well-organized, value-added services, continual intensification, reliable productivity and expansion of innovative technology, UBI bank has ensured comprehensive shopper delight, keeping up its image,  Ã¢â€š ¬Ã…“GOOD QUALITY POPULACE TO BANK WITHâ‚ ¬?.   The key to the triumph of any organisation lies with its personnel or manpower. No wonder, UBI dedicated tem of dynamic and enthusiastic skilled personnel consists of 26000 thousand employee who contribute to the maximum in order to ensure growth for UBI. The bank went for Initial Public offer (IPO) on 20th august 2002 which was followed by the publi c offer made on February 2006.Government of India holds fifty five percent (55.43%) share capital of Union Bank the current share capital holding of the bank is forty four point five seven percent 44.57 % which includes Individuals and Others. Reason behind choosing the topic for the study Housing is the one of the main priority sector needs a lot attention now days the interest rate of the housing loan is raising very high customers are worried about the rates due to indefinite fluctuation. This study is about the comparison of the various schemes and the interest rate of the two banks State Bank of Mysore and Union Bank of India. After this study we will be able to know that which bank is more convenient in the lending of loan. Different schemes of the bank are convenient in different manner according to customers priority. The study is important also in case of comparison of the many other banks schemes to these two banks. Literature Review Meaning of Loan: Loan is a method of lending under which bank gives credit to a borrower for a fixed period and for a specific purpose. Loan are promises for future payment, they have to be repaid in periods beyond a year and are therefore long-term liabilities 3.3Types of Loan: Generally bank grant loans for different period like shorts, medium and long and for different purpose. Broadly, the loans granted by banks are classified follows Bank Loans (1) Short-term Loans: Short-term loans are granted to meet the working capital needs of the borrowers. These loans are granted against the securities of tangible assets mainly the movable assets like goods and commodities, share debenture, etc. (2) Term Loans: Medium and long-term loans are usually called term loans. These loans are granted for more than a year and are meant for purchase of capital assets for the establishment of new units and for expansion or diversification of an existing unit. Loan Procedure: Generally various banks adopt following procedure for loan. Appraisal of Loan Submit the Application Documentation Convene to loan applicant To Issue Draft or Pay order Submit the Application: First of all the loan borrower should submit application to the particular bank. The borrower is required to fill out a common application form, which seeks comprehensive information about proprietors and loan borrowers back ground and his business network and as well as his cost of project and economic consideration. Appraisal of Loan: The bank follows good appraisal system for effective lending and to make easy repay in future way. The main task of the lending bank is to make sure that the income generated from the loan is sufficient to repay the loan installments according to the terms and conditions of amortization. The risk involved in term lending is much more than the risk in short-term lending because the loans are given to new undertaking, or for the modernization and expansion of existing undertaking and for loan period. Before sanctioning any loan a banker should assure himself that the borrowing concern shall be able to earn sufficient income to pay the loan installments. The methods of analysis and standard to be adopted for an appraisal of loan are more similar to investment decision than to short-term lending. The appraisal of loan included projection of future trends of output, sales estimated of costs, returns and flow of funds. It is extremely difficult to have a clever cut formula for the appraisal of term loan since many factors have to be considered such as the type of borrowing bank and its activities, the markets potential, its management, and financial position. The amount of loan and the period of its repayment. Another important factor is whether to give weight age to profitability or to its broad economic significance in the development of the economy. A term loan may be appraised by considering four different aspects of the proposal. They are: Technical feasibility Economic feasibility Managerial competence Financial feasibility Documentation: After completing the step of submit the application and appraisal system of loan. Then loan applicant should collect the document for borrowing loan, every documents and requirement are needed according to the co-operative bank rate. If the loan applicant wants to borrow loan of huge amount, so at a time strong documents are presented by loan applicant against bank like evident of shareholders, original and photocopy of propertys documents, photocopy last three years income tax returns file, etc. if loan applicants has no any recommendation from share holder so firstly the bank becoming share holders of his bank by issuing share to them, so above types of documents are used to borrow loan and advances from the bank. Convene to Loan Application: After collecting the necessary documents, an officer of the recipient bank review it to ascertain whether it is complete for processing, when the application is considered complete. Then the co-operative bank held meeting of his loan applicant and sanctioned the particular loan. Generally this meeting is convened on Monday and Thursdays in every week. Otherwise expected it in other contingent situation and gives date, day and time for delaying particular meeting. To Issue Draft or Pay order: At the last stage is that, after convening of loan applicant and sanctioning loan, borrower should pay its stamp duty, margin and one installment of loan, then in the stamp document or stamp procedure. Then bank gives to them pay order or draft. If the any loan borrowers want to purchase machinery or vehicle from out of city so he need quotation of that particular company, and finally bank made draft of companys name otherwise if the quotation of city area so at a time the co-operative bank made pay order of companys name. Them it gives to company through loan applicant. Thus above procedure is followed by the loan applicant, who wants to borrow loan from banks and satisfied his goal or objectives. 1.) In December 2006 Fulbag Singh and Reema Sharma had studied about the housing Finance in India. Housing, as one of the three basic needs of life, always remains on the top priority of any person, economy, government and society at large. In India, majority of the population lives in slums and shabby shelters in rural areas. From the last decade, the Government of India has been continuously trying to strengthen the housing sector by introducing various housing loan schemes for rural and urban population. The first attempt in this regard was the National Housing Policy (NHP), which was introduced in 1988. The National Housing Bank (NHB) was set up in 1988 as an apex institution for housing finance and a wholly-owned subsidiary of Reserve Bank of India (RBI). The main objective of the bank is to promote and establish the housing financial institutions in the country as well as to provide refinance facilities to housing finance corporations and scheduled commercial banks. Moreover, f or the salaried section, the tax rebates on housing loans have been introduced. The paper is based on the case study of LIC Housing Finance Ltd., which analyzes region-wise disbursements of individual house loans, their portfolio amounts and the defaults for the last ten years, i.e., from 1995-96 to 2004-05 by working out relevant ratios in terms of percentages and the compound annual growth rates. A relevant chart has also been prepared to highlight the results. 2) In May 18, 2007 Michael La Cour-Little had studied about the Economic Factors Affecting Home Mortgage Disclosure Act Reporting. The public release of the 20042005 Home Mortgage Disclosure Act data raised a number of questions given the increase in the number and percentage of higher-priced home mortgage loans and continued differentials across demographic groups. Here we assess three possible explanations for the observed increase in 2005 over 2004: (1) changes in lender business practices; (2) changes in the risk profile of borrowers; and (3) changes in the yield curve environment. Results suggest that after controlling for the mix of loan types, credit risk factors, and the yield curve, there was no statistically significant increase in reportable volume for loans originated directly by lenders during 2005, though indirect, wholesale originations did significantly increase. Finally, given a model of the factors affecting results for 2004-2005, we predict that 2006 results will c ontinue to show an increase in the percentage of loans that are higher priced when final numbers are released in September 2007 3.) â‚ ¬Ã…“The housing finance market has been consistently exhibiting rapid growth in the past few years. Growth has been largely concentrated on urban areas and in the middle to high income groups, focusing on the salaried class. This growth was partly fuelled by the entry of commercial banks seeking asset growth in a sluggish business environment coupled with the tax incentives on housing loans. The banks, with their lower cost of funds, extensive branch network, capability to provide a range of personal banking services and aided by the average low default rates in housing finance, could expand the market considerably. They however, continued to focus on middle to higher income groups. Lower income groups, self employed and the rural population are by and large excluded. While the middle and higher income groups may continue to access conventional housing finance, increasing attention will need to be paid to the needs of the underservedâ‚ ¬?. (Source: Saravanan P. Recent Experiences in the Housing Finance Sector A Study with Reference to India.  Housing Finance International  [serial online]. September 2007; 21(5):45-48. Available from: Business Source Complete, Ipswich, MA. Accessed June 17, 2010) 4.) The innovations in housing finance systems in advanced economies over the past two decades have altered the role of housing sector in business cycle and in the monetary transmission mechanism. It concludes that these changes have spilovers from the hosuing sector to the rest of the economy and have amplified their impact by strengthening the role of housing as collateral. This analysis suggests in economies were developed mortgage markets, monetary policymakers may need to respond over aggressively to developments in housing sectors, within a risk-management approach that treats house price dynamics as one of the key factors to be considered in assuming balnce of risks to output and influence. (Source: World Economic Outlook(International Monetary fund), 2008, ISBN 978-1-58906-719-6) 5.) Today, the housing finance market has evolved into an oligolpolistic structure (SSKI, 20606) with three dominant providers-DFC, the largest housing company, ICICI bank the largest private sector bank, State Bank of India the largest bank in country. According to SSKI India research estimation in 200, the three leading housing credit providers accounted for approximately 75 of the market. Only a few foreign banks are involved and they tend to focus on High net worth individuals.Towards the end of 2005, India saw a graduate inching uo of interest rates. Despite this, close to 85 % of housing credit customers still prefer floating rate of interest.(Source: Housing Finance mechanism in India, 2008, ISBN- 978-92-1-131970-5, [emailprotected] United Nations Human Settlement Programme 2008) 6.) â‚ ¬Ã…“As per a article report published in wall street the trend in housing sector in India as on February 20,2008 were heading for a slowdown. The withdrawal of an Initial Public offering (IPO) by Emaar MGF Pvt. Ltd is an indication of difficulties companies worldwide are having in tapping market. (Source: Kilbinger, Sara Seddon. India Faces Housing Slowdown.  Wall Street Journal Eastern Edition  20 Feb. 2008: B7.  Business Source Complete. EBSCO. Web. 17 June 2010) 7.) â‚ ¬Ã…“The housing market in the Indian metropolitan city of Bangalore. Some problems of housing finance from the viewpoints of families and of public authorities are indicated. It is argued that it is these financial problems that make access difficult for the poorer half of the population of Bangalore to forms of housing other than inner city slums or urban fringe informal housing. Public housing with its unrealistic standards of service provision, but especially its high initial access costs is not well designed to meet the needs of the majority of families. The paper concludes that unless public housing authorities emulate the private housing market they will continue to play a marginal role in housing in a city such as Bangalore. There are signs that this is happening in India with experimentation in both housing finance and lower service standard. (Source: Blore, Ian. Housing and the working class in an Indian metropolis.  Public Administration Development  9.5 (1 989): 557-568.Business Source Complete. EBSCO. Web. 17 June 2010.) 8.) The housing sector in India for several decades faced a number of set-backs, such as an unorganized market, development disparities, a compartmentalized development approach and a deterrent rent control system. There was not even a concerted attempt to understand the housing problem let alone promote it. Reforms introduced in the sector during the 1990s, however, have overturned the situation to a great extent. The designing of a shelter policy, the organization of the housing finance market, the introduction of fiscal incentives, increased public investment, legal reforms and others initiatives have brought about a number of changes in the housing sector. Interestingly, these changes have been concerned with both reducing the housing shortage and increasing the number of quality housing stock besides increased access to various other housing amenities like safe drinking water, good sanitation and household electricity. However, the reform initiatives of the housing sector need t o take deep roots and to go a long way to address the growing incidence of sub-standard and dilapidated housing stock for further minimizing the deprivations of housing amenities. This paper considers a few policy options towards addressing the challenges of the housing sector. (Source: Mahadeva M. Reforms in housing sector in India: impact on housing development and housing amenities.  Habitat International[serial online]. September 2006;30(3):412-433. Available from: Business Source Complete, Ipswich, MA. Accessed June 17, 2010) OPERATIONAL DEFINITION OF THE CONCEPT EMI- Equated Monthly Installment is what a loaner pays the Banks every month towards repayment of loan. It is comprises of principle and interest. EMI = L * r (1 + r) n x 1 (1 + r) n â‚ ¬Ã¢â‚¬Å" 1 12 Interest rate- It is the amount which banks charge along with the principal amount per year on the basis of fixed rate or floating rate. UBI- Union Bank of India SBM- State Bank of Mysore HFC- Housing Finance Company METHODOLOGY The study dwells on both secondary and primary data. The primary data is collected through interviewing staffs of the banks, secondary data is collected through past details of the Housing finance structure, reports, pamphlets, brochures etc Primary research is form of research which includes the gathering of new data using an acknowledged research method. This could be in form of opinion poll, questionaaire, telephonic interviews or personal interview etc For this research article the author has chosen to carry out primary research by collecting data in form of questionnaire or by interviewing SBM and UBI with the support of bank officials or staff members of bank. Secondary Research is referred to data which is not a original creation. This form of data is already available to a researcher in order to carry out the research process in form of websites, journals or newspapers or company annual reports. How Primary data can be collected: 1.) Questionnaire or Opinion Polls: Questionnaire or opinion polls are intended to gather primary data from a sample taken into consideration, with a aim to critically evaluate or analyse the data in form of tabulated results e.g. stastical data or even by simplifying the results in form of a inference of the numeric data. Questionnaire can be performed in several ways such as telephonic interview, Emails, Online surveys or face to face. These methods of opinion polls are elaborated in broader perspective: Telephone interview: This is the most important and widely accepted method of collecting the original and accurate data for resolving the complex issues and providing the accurate solutions. Merit: From the author point of view the main merit of this method is that its more time consuming and a person can explain views more easily which they cannot do sometime face to f ace. Demerit: The demerit of this method could be that the rejection for telephonic interview which doesnt allow the researcher to receive any data for the research. Online Surveys: Surveys nowadays most commonly and widely accepted method of research as it can be presented in many dimension and can be analysed and interpreted based on the requirement of the person and also can be presented in form of tabulation sheets or some analytical software. Merit: This method is very advantageous as a researcher can have a global access from the respondent and its more faster and accurate and easy to administer. Demerit: For this method to have access a user must be well versed with computers as well as its more global method a user should ahve access to internet so that could be a biggest drawback in order to collect data if the respondent dont have knowledge or access to these resources. Personal interview: This form of method is acceptable by everyone as its being designed and implemented based on the convenience of the respondent. A respondent can choose their timing to answer the questionnaires as well its helps in solving the complex issues as it provides the accurate data as well a discussion about the analysis of data from the respondent Merit: The main advantage of face-to-face or direct interviews is that the researcher can accommodate the questions as necessary, classify doubts and ensure that the responses are properly understood, by repeating or rephrasing the questions. The researcher can identify nonverbal clues from the respondent. Disadvantages: The main disadvantage of face-to-face interviews is that geographical limitations may impose restrictions on the surveys and the vast resources that would be needed if such surveys need to be done nationally or internationally. Respondents may feel uneasy about their privacy of their responses when they interact face-to-face with the interviewer. Postal Interview: The most commonly used method of distribution which is fairly easy to administer. The questionnaire and the covering letter will be posted to the sample, usually with a prepaid envelope for returning the completed questionnaire. For this medium short questionnaire will be used. Advantages: A wide geographical area can be covered with the use of postal interview. The respondents use their convenience to fill the form at their own pace. Anonymity of respondents is high. Disadvantages: Any doubts that respondents have cannot be clarified. The return rates of mail questionarres are typically low. Follow up procedures for non responses are necessary in postal interviews. Sampling: Survey provides representative information about a group from which sample was drawn. This qualitative research will involve nonrandom sampling or non-probability sampling where everyone in the population will not have an equal chance to be chosen as part of a sample. The non-probability samples provide good estimates of a population characteristic. Target Population: The target population of my sample will include all bank employees of IS bank. The recruitment of individuals for participation will require the selection of individuals who are employees of IS bank. The sample for the research survey will be selected mostly by these methods: Convenience Sampling: This will be used to identify bank employees who are willing and available for the research survey. As most of the bank employees will be working and will not be available for questioning convenience sampling would be a better choice. Snowballing: This sampling method will be used to identify the first participant. Then that first participant will be asked to refer to other participants with similar characteristics. I have used this method to select bank employees and their friends. It is easier to get representatives for research through this method that has same characteristics. Secondary data can be obtained by: Comparative Case studies: I will go through case studies of competitors who are offering mortgage products in the Turkey market. This will help in understanding their strategies and policies. It will also help in understanding about how they achieve their goal. It will also help in identifying the challenges they faced during marketing their products. Comparative Case Studies helps in comparing two industries and understanding their shortfalls. Hypothesis Since the interest rate on home loan is frequently changing and it is expected that it will rise again by the end of the year 2010. Customers who want to take loan for a long time i.e. more than 15 years and also the big amount are really worried about the payment of high EMI. The problem is mainly for salaried class people who are unable to pay the EMI fixed by the banks on their monthly salary. As the fixed rate of interest is 12.5% now customers are suggested to take loan on floating rate of interest. So hypothesis will be based on the current and future trend of the interest rates of the banks. Analysis of Data Data for analysis will be present in following ways in order to carry out the research as well to do comparative analysis for the subject by giving information in different perspective. Frequency tables  Ã‚   Bar charts, histograms and pie charts  Ã‚   Contingency tables or cross-tabulations   Quantitative and Qualitative data: Qualitative data is form of data which includes the fact and figures such as financial report of a company and Quantitative data is a form of data which can be used analyse the data which is in form of questionnaire and surveys which help in order to analyse the current situation of company and provide the better solutions for company. For this research article author will be using both the data Quantitative as well Qualitative as the research includes both data collection numeric data as well survey or questionnaire data. 3). LIMITATIONS OF THE STUDY If there are advantages of study then obviously there are limitations of that study also. So, some limitations of this study are: This is basically an academic study suffers from time and money constraints. The other limitation includes the sample size, which is small. Analyses of only two banks are done rather than more banks Study is limited to local area of Bangalore, India Since banks are not willing to disclose their client details so the availed information is limited to report, pamphlet, brochure etc. SCOPE OF STUDY The study mainly deals with Housing Finance Sectors. The two important sectors identified for this purpose are companies and client of public and private Housing finance sector in Bangalore, India. AREA OF THE STUDY The study is limited to only one branch of both banks i.e. UBI and SBM situated in Bangalore due to time, money and information availability constraints. Ethics As the research article is focused on banking industry the confedentiaity of the data will be used for academic purposes within the field of study that is housing schemes of two banks and as per the accordance of business ethics.