Research And Analysis On The Indian Banking Industry Finance Essay - Free Essay Example

Sample details Pages: 17 Words: 4977 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The Indian banking industry currently termed as strong, having weathered the global economic slowdown and showing good numbers with strong support flowing in from the Reserve Bank of India (RBI) measures. A report Opportunities in Indian Banking Sector, by market research company, RNCOS, forecasts that the Indian banking sector will grow at a healthy compound annual growth rate (CAGR) of around 23.3 per cent till 2011. Banking, financial services and insurance (BFSI), together account for 38 per cent of Indias outsourcing industry (worth US$ 47.8 billion in 2007). Don’t waste time! Our writers will create an original "Research And Analysis On The Indian Banking Industry Finance Essay" essay for you Create order According to a report by McKinsey and NASSCOM, India has the potential to process 30 per cent of the banking transactions in the US by the year 2010. Outsourcing by the BFSI to India is expected to grow at an annual rate of 30-35 per cent. According to a study by Dun Bradstreet (an international research body)-Indias Top Banks 2008-there has been a significant growth in the banking infrastructure. Taking into account all banks in India, there are overall 56,640 branches or offices, 893,356 employees and 27,088 ATMs. Public sector banks made up a large chunk of the infrastructure, with 87.7 per cent of all offices, 82 per cent of staff and 60.3 per cent of all ATMs. According to the RBI, Indian financial markets have generally remained orderly during 2008-09. In view of the tight liquidity conditions in the domestic money markets in September 2008, the Reserve Bank announced a series of measures beginning September 16, 2008. Thus, the average call rate which was at 10.52 per ce nt declined to 7.57 per cent in November 2008 under the impact of these measures. 2. INDUSTRY PROFILE 2.1 Definition Bank may be defined as a financial institution which is engaged in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc. A set of services intended for private customers and characterized by a higher quality than the services offered to retail customers. Based on the notion of tailor-made services, it aims to offer advice on investment, inheritance plans and provide active support for general transactions and the resolution of asset-related problems. The essential function of a bank is to provide services related to the storing of deposits and the extending of credit. Basic function may include Credit collection, Issuer of banking notes, Depositor of money and lending loans. 2.2 Segments Banks in India can be categorized into non-scheduled banks and scheduled banks. Scheduled banks constitute of commercial banks and co-operative banks. There are about 67,000 branches of Scheduled banks spread across India. During the first phase of financial reforms, there was a nationalization of 14 major banks in 1969. This crucial step led to a shift from Class banking to Mass banking. Since then the growth of the banking industry in India has been a continuous process As far as the present scenario is concerned the banking industry is in a transition phase. The Public Sector Banks (PSBs), which are the foundation of the Indian Banking system account for more than 78 per cent of total banking industry assets. Unfortunately they are burdened with excessive Non Performing assets (NPAs), massive manpower and lack of modern technology. On the other hand the Private Sector Banks in India are witnessing immense progress. They are leaders in Internet banking, mobile banking, phone banking, ATMs. On the other hand the Public Sector Banks are still facing the problem of unhappy employees. There has been a decrease of 20 percent in the employee strength of the private sector in the wake o f the Voluntary Retirement Schemes (VRS). As far as foreign banks are concerned they are likely to succeed in India. Indusland Bank was the first private bank to be set up in India. IDBI, ING Vyasa Bank, SBI Commercial and International Bank Ltd, Dhanalakshmi Bank Ltd, Karur Vysya Bank Ltd, Bank of Rajasthan Ltd etc are some Private Sector Banks. Banks from the Public Sector include Punjab National bank, Vijaya Bank, UCO Bank, Oriental Bank, Allahabad Bank, Andhra Bank etc. ANZ Grindlays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank etc are some foreign banks operating in India. 3. MARKET DYNAMICS 3.1 Market Overview The banking sector is a very important sector of the Indian economy. The sector has made a marked improvement in the liberalization period. There has been extraordinary progress in the financial health of the commercial banks with respect to capital adequacy, profitability, asset quality and risk management. Deregulation has opened new doors for banks to increase revenues by entering into investment banking, insurance, credit cards, depository services, mortgage, securitization, etc. The major participants of  the Indian financial system are the commercial banks, the financial institutions (FIs), encompassing term-lending institutions, investment institutions, specialized financial institutions and the state-level development banks, Non-Bank Financial Companies (NBFCs) and other market intermediaries such as the stock brokers and money-lenders. The commercial banks and certain variants of NBFCs are among the oldest of the market participants. The FI s, on the other hand, are relatively new entities in the financial market place. The challenges faced by the sector would be gaining profitability, reinforcing technology, maintaining global standards, corporate governance, sharpening skills, risk management and, the most important of all, to establish Customer Intimacy. The insurance business is one of the most rapidly growing areas in the financial sector. Growth in Banking sectors HDFC Bank and Axis Bank continue to remain as leaders of the private sector banks. Both the banks have maintained the advances growth and NIM. SBI, Punjab National Bank, Bank of India and Union Bank are expected to lead among PSU Banks. Public sector banks (PSBs) on January 12, 2009 also decided to lower interest rates on bulk deposits and to offer a maximum rate of 7.5 per cent for one-year maturity. According to the latest RBI data, growth in broad money (M3), year-on-year (y-o-y), was 19.6 per cent (US$ 151.04 billion) on January 2, 20 09 lower than 22.6 per cent (US$ 141.82 billion) a year ago. Aggregate deposits of banks, year-on-year, expanded 20.2 per cent (US$ 133.08 billion) on January 2, 2009 as compared with 24.0 per cent (US$ 127.49 billion) a year ago. The growth in bank credit continued to remain high. Non-food credit by scheduled commercial banks (SCBs) was 23.9 per cent (US$ 102.78 billion), year-on-year, as on January 2, 2009 from 22.0 per cent (US$ 77.79 billion) a year ago. Scheduled commercial banks credit to the commercial sector expanded by 27.0 per cent (year-on-year) as on November 21, 2008, as compared with 23.1 per cent a year ago. Non-food credit of scheduled commercial banks expanded by 26.9 per cent, year-on-year, as on November 21, 2008, higher than 23.7 per cent a year ago. Net banking capital amounted to US$ 4.8 billion in April-September 2008 as compared with US$ 5.7 billion in April-September 2007. Lending by banks also rose more than 76 per cent to Rs 2,80,000 crore ( US$ 57.26 billion) during April-November 2008-09 from the same period a year ago. ( Source- RBI Website ) 3.3 Trend Analysis ( Source- CMI Data Base- Prowess ) 3.3.1 Declining NPA Ratio: The net NPA ratio of Indian banks stood at 1 % in March 2008 as compared to 7 % in March 2000. Indeed, the recent global financial crisis is expected to have only a limited impact on Indian banks. Indian banking system is robust given the high Capital Adequacy Ratio, low NPAs, about 30% of the balance sheet in the form of government securities and cash, and low level of leveraging. 3.3.2 Increasing Number of Mergers There has been an increase in numbers of mergers as mergers and acquisition route is providing a quick step to acquire competitive size and offering banks an opportunity to share markets and reduce cost of product development and delivery. Consolidation in the banking sector is inevitable Mergers of smaller, newer banks would be much easier than the PSU banks, due to legal and social constraints. India is now moving in the direction of fewer but larger mega banks. While merging banks should keep in mind the inherent strengths and weaknesses of a taken over bank. Fundamental features like Portfolio, NPA levels, capital adequacy, technology levels, staff issues should be closely considered when planning for a merger. 3.3.3 Declines in Non Performing Assets (NPA) The gross NPAs of the scheduled commercial banks, which were as high as 15.7 per cent at end-March 1997, declined significantly to 2.4 per cent as at end-March 2008. The net NPAs of these banks during the same period declined from 8.1 per cent to 1.08 per cent. These figures too compare favorably with the international trends and have been driven by the improvements in loan loss provisioning by the banks as also by the improved recovery climate enabled by the legislative environment. 3.4 Key Drivers 3.4.1 Innovations The banking sector in India saw greater emphasis being pl aced on technology and innovation. Banks began to use technology to provide better quality of services at greater speed. Internet banking and mobile banking made it convenient for customers to do their banking from geographically diverse places. Banks also sharpened their focus on rural markets and introduced a variety of services geared to the special needs of their rural customers. Banking activities also transcended their traditional scope and new concepts like personal banking, retailing and banc assurance were introduced. The sector was also moving rapidly towards universal banking and electronic transactions, which were expected to change the way banking would be perceived in the future. 3.4.2 Improvements in the Regulatory Environment The regulatory environment in India is liberal in regard to the functioning of the foreign banks and whether the regulatory approach towards foreign participation in the Indian banking system is consistent with liberalized environment. Und oubtedly, the facts indicate that regulatory regime followed by the Reserve Bank in respect of foreign banks is non-discriminatory, and is, in fact, very liberal by global standards. Here are a few facts which bear out the contention. No restrictions have been placed on establishment of non-banking financial subsidiaries in India by the foreign banks or of their group companies. 4. PEST ANALYSIS 4.1 Political Factors 4.1.1 Regulations: Banking institution is flattering from compiling with the sets of regulations such as AMI( Anti- money laundering ), SOX (Sarbannes Oxley act ),etc. These regulations can pose challenges because of technological constraints and can impact on the profit banks are making. But from different prospective, one must comply with these regulations not only because they are mandatory but also because it will help in reputation building and customer and culture orientation. It is essential for global institution to comply with both the national as w ell as international regulations as it helps them establish ties with foreign countries as they view as reliable organizations. Technology makes it easier to comply with regulations. In case of the national banks, they are bound to have branches across India. Especially in case of bank with global presence, technology plays an important role as multiple regressions specific to the countries or region have to be complied with. A judiciously integrated solution system enables even a mammoth size financial institution to comply with regulation at ease. Banks need to adopt a holistic approach in order to comply with national, international, and regional regulations. Especially the bank has international presence then this become more necessary as they would have to fall in line for all three regulatory bodies. 4.1.2 High Capital Adequacy Ratio (CAR) for Implementation of Basel II: The Basel Capital Accord (Basel II) guidelines promulgated by the BIS to establish capital adequac y requirements and supervisory standards for banks to be implemented by 2007 and are structured by three pillars. The Basel II is designed to facilitate a more comprehensive, sophisticated and risk sensitive approach for banks to calculate regulatory capital. The proposals will enable banks to align regulatory requirements more closely with their internal risk measurement and to improve operational process. The Committee today consists of central bankers and supervisory regulators from 13 countries. Basel II attempts to accomplish protect the international financial system by setting up rigorous risk and capital management requirements designed to ensure that a bank holds capital reserves appropriate to the risk the bank exposes itself to through its lending and investment practices. In simple terms, the greater risk to which the bank is exposed, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability. The basic purpose of this recommendation is to ensure that capital allocation is more risk sensitive, separating operational risk from credit risk and quantifying both, and attempting to align economic and regulatory capital more closely to reduce the scope for regulatory arbitrage. The 3-Pillar Approach of Basel II ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Minimum Capital Requirement (Addressing Credit Risk, Operatinal Risk Market Risk) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Supervisory Review (Provides Framework for Systematic Risk, Liquidity Risk Legal Risk) ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Market Discipline Disclosure (To promote greater stability in the financial system) 4.2 Economic Factors The Indian banking system is relatively insulated from the factors leading to the turmoil in the global banking industry. According to rating agency CRISIL, the recent tight liquidity in the Indian market is qualitatively different from the global liquidity crunch, which has been caused by a crisis of confidence in banks lending to each other. RBIs recent initiatives, including the reduction in CRR by 150 basis points from 11 October 2008, cancellation of two auctions of government securities, and confidence-building communication, have already begun easing liquidity pressures. The strong capitalization of Indian banks, with an average Tier I capital adequacy ratio of above 8 per cent, is a positive feature in their credit risk profile. Indian banks do face challenges in the current Indian economic environment, marked by a slower gross domestic product growth, depressed capital market conditions, and relatively high interest rate regime. The profitability of Indian banks is expected to remain under pressure due to increased cost of borrowing, declining interest spreads, and lower fee income due to slowdown in retail lending. 4.3 Social Factors Banking industry has played a major role socially. It has led to increased savings from the society in various ways like Savings Bank account, Fixed Deposit Account etc. It has led to habit of saving among the mass plus offering the society an interest for its savings. Over the years the banks in this industry have been the key players in building the economy by the way of lending people and taking their savings for the countrys well being. 4.3.1 Increased Usage of Online Banking Advantages previously held by large financial institutions have shrunk considerably. The Internet has leveled the playing field and afforded open access to customers in the global marketplace. Internet banking is a cost-effective delivery channel for financial institutions. Consumers are embracing the many benefits of Internet banking. Access to ones accounts at anytime and from any location via the World Wide Web is a convenience unknown a short time ago. Thus, a banks Internet presence transforms from brouchreware status to Internet banking status once the bank goes through a technology integration effort to enable the customer to access information about his or her specific account relationship. The six primary drivers of Internet banking includes, in order of primacy are: Improve customer access Facilitate the offering of more services Increase customer loyalty Attract new customers Provide services offered by competitors Reduce customer attrition 4.4 Technological Factors 4.4.1 IT Services Indian banking industry, today is in the midst of an IT revolution. A combination of regulatory and competitive reasons has led to increasing importance of total banking automation in the Indian Banking Industry. Information Technology has basically been used under two different avenues in Banking. One is Communication and Connectivity and other is Business Process Reengineering. Information technology enables sophisticated product development, better market infrastructure, implementation of reliable techniques for control of risks and helps the financial intermediaries to reach geographically distant and diversified markets. In view of this, technology has changed the contours of three major functions performed by banks, i.e., access to liquidity, transformation of assets and monitoring of risks. Further, Information technology and the communication networking systems have a crucial bearing on the efficiency of money, capital and foreign exchange markets. Banks as well as other financial entities entered the world of information technology and with Indian Financial Net (INFINET). INFINET, a wide area satellite based network (WAN) using VSAT (Very Small Aperture Terminals) technology, was jointly set up by the Reserve Bank and Institute for Development and Research in Banking Technology (IDRBT) in June 1999. The Indian Financial Network (INFINET) which initially comprised only the public sector banks was opened up for participation by other categories of members. The first set of applications that could benefit greatly from the use of technologi cal advances in the computer and communications area relate to the Payment systems which form the lifeline of any banking activity. The process of reforms in payment and settlement systems has gained momentum with the implementation of projects such as NDS ((Negotiated Dealing System), CFMS (Centralized Funds Management System) for better funds management by banks and SFMS (Structured Financial Messaging Solution) for secure message transfer. This would result in funds transfers and funds-related message transfer to be routed electronically across banks using the medium of the INFINET. Negotiated dealing system (NDS), which has become operational since February 2002 and RTGS (Real Time Gross Settlement system) scheduled towards the end of 2003 are other major developments in the area. Internet has significantly influenced delivery channels of the banks. Internet has emerged as an important medium for delivery of banking products services. Detailed guidelines of RBI for Internet Banking has prepared the necessary ground for growth of Internet Banking in India. 4.4.2 Mobile Banking M-Commerce The Commerce of Convenience The leaders of telecom in India, Reliance and Airtel have taken the lead in offering m-commerce services. From bill payments to airline and railway ticketing to booking movie tickets and other random services, the services providers offer it all-Commerce in India is on a huge growth path and hybrid m-commerce service providers such as Pay mate now offering innovative services never heard of before. Mobile pays the bills PayMate allows mobile subscribers to make payments for merchant services using their cell phones. It is connected to merchants and banks to enable transactions. PayMate allows a transaction to be completed with a single SMS (one click) technology. ATM banking costs 80% while Internet and telebanking costs only 15% compared to normal banking transactions. Private sector Banks have pioneered internet banking, phone banking, anywhere banking, mobile banking, debit cards, Automatic Teller Machines (ATMs) and combined various other services and integrated them into the mainstream banking arena. Apart from the Mobile Banking, including of SMS Banking, Net Banking and ATMs are the major steps taken by the banks in India towards modernisation. With all these devices and systems, there is a complete freedom to experience. 5. MICHAEL PORTERS FIVE FORCE ANALYSIS 5.1 Buyers Power 5.1.1 Specialized Products for Women and Students Single women are increasingly making up the second-largest group of home-buyers, though their size is still small compared with the number of mortgage loans availed by men. ABN Amro Bank and Citibank have designed special womens accounts that cater to the investment requirements of the female investor, offering benefits such as free consultancy and advice, reduced minimum balance, breaks in process fees and even lower interest rates on loans. There are students special accounts called youth power in ICICI, and the also help students with educational loans. 5.2 Supplier Power 5.2.1 Fragmented Mobile Payment Solutions Market The telecom story in India has been a huge success. A 100 million plus mobile users is a dream come true for marketers. If thats not all the number of users is growing by as much as 3 million a month. The numbers are hugely in favor of m-commerce. Mobile phone users in India outnumber credit and debit cards and internet users 2.5 to one. 5.3 Intensity of Competition 5.3.1 New Entrants Intensifying the Competition Foreign Banks in India always brought an explanation about the prompt services to customers. After the set up foreign banks in India, the banking sector in India also become competitive and accurative.Foreign banks are likely to succeed in their niche markets and be the innovators in terms of technology introduction in the domestic scenario which will increase the competition in the domestic b anking industry. The outlook for the private sector banks indeed looks to be more promising vis-à  -vis other banks. While their focused operations lower but more productive employee force etc will stand them good, possible acquisitions of PSU banks will definitely give them the much needed scale of operations and access to lower cost of funds. 5.4 Threat of New Entrants 5.4.1 Focus on Niche Segments Foreign banks are likely to succeed in their niche markets and be the innovators in terms of technology introduction in the domestic scenario. The outlook for the private sector banks indeed looks to be more promising vis-à  -vis other banks. While their focused operations, lower but more productive employee force etc will stand them good, possible acquisitions of PSU banks will definitely give them the much needed scale of operations and access to lower cost of funds. These banks will continue to be the early technology adopters in the industry, thus increasing their efficie ncies. Also, they have been amongst the first movers in the lucrative insurance segment. Already, banks such as ICICI Bank and HDFC Bank have forged alliances with Prudential Life and Standard Life respectively. This is one segment that is likely to witness a greater deal of action in the future. In the near term, the low interest rate scenario is likely to affect the spreads of majors. This is likely to result in a greater focus on better asset-liability management procedures. Consequently, only banks that strive hard to increase their share of fee-based revenues are likely to do better in the future. 5.4.2 Regulatory Reforms Limiting Foreign Presence Expansions through acquisitions offer limited prospects, however, as foreign investors still encounter restrictions when purchasing stakes in Indian banks. Investment by foreign institutional investors (FIIs) in PSBs are subject to an overall statutory limit of 20%. Foreign banks are permitted to acquire controlling stakes on ly in those banks that have been earmarked by the RBI for restructuring. There are also limits on portfolio investment in shares issued by private banks. FIIs are permitted to acquire up to 10% of the capital of a private sector bank, with an aggregate limit of 24% for all FIIs in any individual bank (which can be raised to 49% if a resolution is passed by the banks board of directors followed by a special resolution of its general body). The aggregate foreign investment in existing private banks from all foreign sources (FDI, FIIs and nonresident Indians) cannot exceed 74% of the private banks paid-up capital. 5.5 Threat of Substitute Products 5.5.1 Informal Financing in the Rural Sector Proxy Banking is an innovation in banking system that will simplify agricultural lending and also add to the increasing base of kisan credit cards. Proxy banking has become a subject of curiosity among the people living in rural areas include; more than sixty percent of rural households have no bank accounts as yet, whereas just twenty percent of the rural households can obtain credit from a formal source. Also, branch banking is not a feasible option in rural areas 6. COMPETITIVE LANDSCAPE HDFC Bank and Axis Bank continue to remain as leaders of the private sector banks. Both the banks have maintained the advances growth and NIM. SBI, Punjab National Bank, Bank of India and Union Bank are expected to lead among PSU Banks. The competitive analysis of five banks i.e. SBI, ICICI Bank, HDFC Bank, Punjab National Bank (PNB) and ING Vysya Bank has been done. 6.1 Competitive Strategy ICICI Bank- It strategy of using a client-centric business model by instituting relationship groups to actively cross-sell the full range of the ICICI Groups products and services to its clients has yielded the desired results, as demonstrated by the robust growth in business volumes. ICICI also aggressively expanded its client base by leveraging its structuring skills, based on a customized approach HDFC Bank- Its objective is to build sound customer franchises across distinct businesses so as to be a preferred provider of banking services for target retail and wholesale customer s egments, and to achieve a healthy growth in profitability, consistent with the Banks risk appetite. The bank is committed to do this while ensuring the highest levels of ethical standards, professional integrity, corporate governance and regulatory compliance. Punjab National Bank- In order to achieve growth , PNB follows the strategy either to increase the existing fund size or launch new products. ING-VYSYA Bank- ING Vysya has adopted a two-fold strategy for growth expansion of branch network and deepening its relationship with customers by offering new products to increase its market share 6.2 Economic Activity: SBI- Incorporated in 1955, State Bank of India is a public sector bank providing banking, financial and leasing services. It is also involved in mutual fund and capital market activities through its subsidiaries. ICICI Bank- Engaged in banking services. It engages in a range of banking products and financial services to corporate and retail customers, inv estment banking, life and non-life insurance, venture capital, asset management and information technology. HDFC Bank- It offers a range of services such as corporate banking, treasury and capital market services, housing finance, advisory services and custodial services to FIIs, mutual funds and others. ING-VYSYA Bank- Incorporated in 1930. It offers various banking related services. It engages in corporate banking, retail banking, rural banking, commercial banking, treasury management and provides financial products. 6.3 Financial Analysis 6.3.1 Income Statement Analysis  PAT in Rs Cr. OPERATING INCOME in Rs Cr State Bank Of India 2478.42 18030.34 ICICI Bank Ltd. 1272.15 7836.08 HDFC Bank Ltd. 621.74 5407.89 ING Vysya Bank Ltd. 52.05 620.21 SBI had the highest net income of Rs 2478 Cr and has resulted in a drastic increase by 32.8% Operating Margin and Expenses by 29.2% in FY2008 as compared to the FY2007- SBI has registered significant improvements in its operating margins since 2003. Technology up gradation has enabled the bank to reduce inconsistencies. ICICI Bank, HDFC Bank and ING-VYSYA Bank has earned net profit of Rs 1272 Cr, Rs 621.74 Cr and Rs 52.05 Cr with a decrease of.957% and increase of 63.86% and 47.41% in their Operating margins respectively. 6.3.2 Balance Sheet Analysis  HDFC Bank SBI ICICI Bank ING Vysya Bank PAT/Total income 12.15 10.25 7.41 11.52 Networth 8770.7 46820.2 1535.65 49032.66 Quick ratio 3.96 2.27 2.48 1.56 Current ratio 3.97 2.58 2.51 1.6 Debt equity ratio 1.03 1.85 1.22 1.49 Interest cover 1.37 1.21 1.21 1.33 No. of employees 14739 0 5852 179205 No. of branches 651 1262 446 10270 EPS on accounting year end 29.94 37.37 13.33 106.56 PAT/Total Income- There has been a constant increase in PAT/Total income in SBI Bank from 9.64 to 11.52 in last 5 years but HDFC and ICICI Banks show increase in 2005 and there a constant decrease in this ratio. ING-VYSYA Bank has a negative PAT/Total Income ratio of -3.17 in 2005 but it has recovered to 7.41 in 2008. Quick Ratio- There has been a constant increase in quick ratio in HDFC Bank, ICICI Bank, ING-VYSYA Bank in last 5 years but increase in SBI Ban k as more inventories and even liabilities has increased. Current Ratio- There has been a constant increase in quick ratio in HDFC Bank and a fluctuation of increase-decrease in ICICI and ING-VYSYA Banks but has shown an increase in last 2 years. But this ratio has declined in SBI Bank from 1.73 to 1.60 last year. Debt Equity Ratio ICICI Bank plans to finance its expansion plans over the next few years by raising capital through equity, and not debt and there is a constant decrease in this ratio from 4.86 to 1.85 where there has been a constant increase in SBI Bank from .85 to 1.49 since last 5 years. No. of Employees- There has been a cut in no. of employees in SBI banks from 207039 in 2004 to 179205 in 2008 but still it has the highest employees and a constant increase in no. of employees in rest banks but HDFC has a drastic increase in their numbers from 5673 to 37836 employees in last 5 years. No. of Branches- The no. of branches has increased in all the banks and t he SBI has the highest of about 10270 branches Return on Equity Despite the decline in returns on equity in 2004-05, SBI generated healthy returns on equity in 2008. 6.4 Stock Market Performance The five key players stock price performance is as follows: ( Source- CMI Data Base- Prowess ) Till February 2009, SBI has highest stock price of Rs 1194 which is a public sector bank and HDFCs stock price is Rs 945.5 which is a private sector bank. ICICI Bank and PNB Bank has similar stock price performance as Rs 434 and Rs 409 respectively. ICICI Bank has slight higher stock price as compared to PNB Bank. ING-VYSYA Bank has least stock price as compared to all these banks of Rs 134.55. STOCK RATIOS  P/E P/B Yield EPS H D F C Bank Ltd. 19.29 3.05 0.9 49.02 I C I C I Bank Ltd. 11.61 0.98 2.53 37.41 I N G Vysya Bank Ltd. 7.56 0.88 1.11 17.79 State Bank Of India 9.46 1.37 1.8 126.24 HDFC Bank has highest price per earning (P/E) ratio and price per book value (P/B) ratio of 19.29 and 3.05 as compared to other banks. ICICI Bank has highest yield ratio of 2.53 and SBI has highest earning per share (EPS) of 126.24 which is quite higher as compared to other banks. INDUSTRY OUTLOOK The banking industry in India seems to be unaffected from the global financial crises which started from U.S in the last quarter of 2008. Despite the fallout and nationalization of banks across developed economies, banks in India seems to be on the strong fundamental base and seems to be well insulated from the financial turbulence emerging from the western economies. The Indian banking industry is well placed as compare to their banking industries western counterparts which are depending upon government bailout and stimulus packages. The strong economic growth in the past, low defaulter ratio, absence of complex financial products, regular intervention by central bank, proactive adjustment of monetary policy and so called close banking culture has favoured the banking industry in India in recent global financial turmoil. The report Indian Banking Sector Forecast to 2012 contains comprehensive research and rational analysis on various segments, like assets size, income level and number of cardholders, in the Indian banking industry. It also analyzes the current performance and key market trends, and helps clients to understand various products available in the market and their future scope. 7. APPENDIX 7.1 International Conferences and Annual Meetings Global banking conference Retail bankers academy Conference on payment system in banks Emerging issues and opportunity conference for Indian banks First global conference on legal and accounting process outsourcing

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Focus Group Guide free essay sample

Lenora Lubega Introduction Hello, my name is Lenora Lubega and I would like to welcome all of you to our focus discussion group. I will be the moderator. Our purpose for meeting today is to discuss ‘hands-free’ cellular telephone use while driving in the State of Tennessee, and to get your feedback on how you feel about the driving while using a cellular device. This focus group’s intent is to openly and discuss the question: â€Å"Should the State of Tennessee require ‘hands-free’ cellular phone use in automobiles? Everyone here this evening is an automobile driver living in the State of Tennessee. This will be a short discussion that will require an hour and thirty minutes of your time to complete. Our time will be very limited; and we will not take a break. The restrooms are conveniently located at either end of the hall. I would like to remind you that this session is highly confidential. Once this session ends, no one’s name will be used in any way outside of this group. Everyone signed consent forms to participate in tonight’s discussion. If there is anyone here that has not signed a consent form, please do so before we began tonight’s discussion or you will not be allowed to participate in this discussion group. For transcription purposes of the discussion there will be an audio recording. I will listen to the recording and prepare my final summary of our focus group accordingly. This will be an informal discussion group. You are encouraged to ask any questions or make any comments that you feel are pertinent to our discussion. Please speak freely, and if anything is unclear, please ask. The intent of this focus group is to ask, listen, and observe. As stated in the consent, please keep everyone’s identities and response confidential once you leave the group. We want to encourage oneness and honesty for everyone involved. We will begin this discussion by finding out a little bit more about each another. If I could have everyone give their name or a nickname, your occupation, and the type of cell phone that you own. I will go first and we will proceed to my right. Data Collection Warm-up Discussion: If you could take out a piece of paper and write a short paragraph on an experience you have had in dealing with drivers who are distracted by the use of a cell phone. Next I will like to ask if you, yourself us a hands free device with your cell phone? Have you used any of the newer apps that allow you to talk and text? Is it burdensome or easy to do? Does your car have a synchronizing device? How often do you us it? Secondary Research: An estimated 3,092 traffic fatalities in 2010 were blamed on distracted drivers, according to the National Highway Traffic Safety Administration. More than one in six drivers send text messages while driving, and nearly half of drivers less than 25 years old are doing it, according to a NHTSA survey released last week. This is becoming the new DUI, said Robert Sumwalt, a member of the safety board. Its becoming an epidemic. The District of Columbia and 35 states ban text messaging for all drivers, according to the Governors Highway Safety Association. They should be made to us a hands free device or something of the like Tasha Fider: I would create a standardized audio output jack, not unlike the one available for iPods and iPhones today (which is actually a data jack), and mandate that all mobile phone manufacturers have it on each new phone that is created. Moreover, I would mandate that all future automobiles have a docking system that is adaptable to any kind of phone whatsoever. I would even mandate that current cars still on the line right now be fitted for such a docking system. I know it would be a hassle, and would put a few more dollars on everyones monthly car note, but I am considering the safety of our future. Anything that saves lives is worth the effort as well as the money invested into creating the technology. Renee Partida: my opinion is simple, there is no need to be using your cell phone whether text or calling or face booking while driving. I think people should us a hands-free devices they were made for that reason. I’ve seen too many people hurt while driving using their cell phones. I was in the car with a girl that dropped her’s and while driving tried to pick it up. Ruth Ellen Galgano: Once I was driving down 65 north bound and saw this lady on her phone. She was clam but as soon as the kids started fighting she became very distracted with driving. There are so many things that can and will distract driving we don’t need to have one more and cells phones are adding another problem to the long list that already exist. I would love to see the law changed on this issue. Jessica McClanahan I use to live in NY, all use of cell phones while driving is against the law including calling and text. I just honestly want to be allowed to slap idiots that know its against the law yet do so and I see them make several driving mistakes that only underage drivers should make like cutting someone off and not making a complete stop at stop signs. They should get their licenses revoked and cell phones stomped on! Tabitha Jerome: (She did not show up. We waited for ? hour but she never came) Specific Discussion Richard Johnson 1. How do you currently view driving while talking on the cell phone without a hands-free device? Yes, I was planning to by one but have not gotten around to it. 2. Does talking on a phone while driving seem safe, or can it lead to low driving performance? Not all the time. Why? When I am dialing the number I often find that I am not in my lane and have come very close to having an accident from time to time. Why not? 3. Of the different things involved with making or receiving a call, which task contributes most to bad driving? Making the call. You must look at the phone to dial the number and that causes your attention to be taken off the road. 4. Is it searching for the phone? Not for me, I often have my phone in the middle of the car. What about dialing? Yes, that is my biggest issue. Talking? No, I use speaker phone. Is it hanging up? No I simply let the other person hang up and my phone will hang up automattly. Or receiving the call? Sometime. 5. How do you feel the state of Tennessee should respond? Laws must be made and enforced. The issue is most driving laws are never enforced here. 6. Should the state mandate hands-free devices for driving? Why do you feel the way you do? Yes, but the phone companies need to do something to help with the cost to the customer. 7. Do you think a hands-free device would make a difference in road safety? Not really. How so? Most people will not use it if it is user friendly. Tasha Fider 1. How do you currently view driving while talking on the cell phone without a hands-free device? Dangerous 2. Does talking on a phone while driving seem safe, or can it lead to low driving performance? No *she did not give any more info, she did not seem to want to be here* 3. Of the different things involved with making or receiving a call, which task contributes most to bad driving? Both 4. Is it searching for the phone? Yes What about dialing? Yes, I think so. Talking? Yes, for sure. Is it hanging up? Yes it can be. Or receiving the call? No 5. How do you feel the state of Tennessee should respond? It is hard to say, I don’t agree with making laws to do so. We are force to do everything. I think we should be able to drive safe. 6. Should the state mandate hands-free devices for driving? Why do you feel the way you do? No they should not. I don’t like the government telling me what I can or cannot do. 7. Do you think a hands-free device would make a difference in road safety? How so? Yes, it could help but only if it is used. Renee Partida 1. How do you currently view driving while talking on the cell phone without a hands-free device? I view it as a health hazard 2. Does talking on a phone while driving seem safe, or can it lead to low driving performance? It is not safe. It can and has killed people and I think a person doing it should be charged with murder. It is not safe. Why? It kills. Why not? 3. Of the different things involved with making or receiving a call, which task contributes most to bad driving? Making the call, although, answering the phone can be just as dangerous. 4. Is it searching for the phone? Yes What about dialing? Yes Talking? Yes Is it hanging up? Yes Or receiving the call? Yes, all these things contribute to unsafe driving. 5. How do you feel the state of Tennessee should respond? Laws need to be enforced. 6. Should the state mandate hands-free devices for driving? Why do you feel the way you do? Yes they should. I hate to see people killed by stupid things people do that are so very avoidable. 7. Do you think a hands-free device would make a difference in road safety? How so? I do. If people use them the danger would be lessened. Ruth Ellen Galgano 1. How do you currently view driving while talking on the cell phone without a hands-free device? I find that if a person is responsible they can do it without any issues. The problem comes in when you have people who are not responsible. Most of the time, I find that people will do one of two things, ignore the call or take it. If they take it, they will cause an accident. 2. Does talking on a phone while driving seem safe, or can it lead to low driving performance? Why? Why not? It seems safe as long as the person is paying attention to the road and not the call. A lot of what we do on the phone is for fun, it is only when the call is serious that it can be a problem. Their attention is turned to the call and not the road. 3. Of the different things involved with making or receiving a call, which task contributes most to bad driving? I would have to say, making the call. 4. Is it searching for the phone? Not really What about dialing? Yes, that is the big problem. You cannot watch the road and dial a number at the same time. Talking? Not really. Is it hanging up? I don’t think so. Or receiving the call? It can really be hard to take a call while driving. Sometime the phone can fall on the floor of the car and you try to pick it up. 5. How do you feel the state of Tennessee should respond? I think we should allow people to do what’s right and not make any new laws at this time. Although the statistic show more people die from using the phone I think it would be safe if we just use caution. 6. Should the state mandate hands-free devices for driving? No Why do you feel the way you do? I just don’t like it when I am told, by law, what to do. 7. Do you think a hands-free device would make a difference in road safety? It might if the person uses. How so? If the person never uses it what would be the point? Jessica McClanahan 1. How do you currently view driving while talking on the cell phone without a hands-free device? It is a dangerous practice, to say the least. I know different states are different, but I think TN says it is not legal to do it without a hands-free device. 2. Does talking on a phone while driving seem safe, or can it lead to low driving performance? Why? Why not? It does not seem safe, and it can lead to low driving performance, since full attention is not given to all the hands and foot motion of driving (not to mention attention to the surroundings) 3. Of the different things involved with making or receiving a call, which task contributes most to bad driving? I think making a call contributes most to bad driving 4. Is it searching for the phone? What about dialing? Talking? Is it hanging up? Or receiving the call? Dialing 5. How do you feel the state of Tennessee should respond? The state should mandate mobile phone manufacturers to make a safety modification to all new phones 6. Should the state mandate hands-free devices for driving? Why do you feel the way you do? Yes. It should also impose stiff penalties for those who do not comply. The state is responsible for the safety of its citizens. 7. Do you think a hands-free device would make a difference in road safety? How so? Yes I do. It would save lives. Tabitha Jerome (She did not show up. We waited for ? hour but she never came) 1. How do you currently view driving while talking on the cell phone without a hands-free device? 2. Does talking on a phone while driving seem safe, or can it lead to low driving performance? Why? Why not? 3. Of the different things involved with making or receiving a call, which task contributes most to bad driving? 4. Is it searching for the phone? What about dialing? Talking? Is it hanging up? Or receiving the call? 5. How do you feel the state of Tennessee should respond? 6. Should the state mandate hands-free devices for driving? Why do you feel the way you do? 7. Do you think a hands-free device would make a difference in road safety? How so? Summary We are at the end of our discussion. Today we have shared our personal views in detail on this topic. With all our newly acquired information, together with our personal feelings, let us imagine the president of AAA entering this room. Let us each give 30 seconds of advice his company should consider regarding support of a law requiring hands-free devices for cell phones while driving in the state of Tennessee. If in favor of the law, state what elements of law you think should be included in the law and which should not. If opposed to the law, do likewise, and give personal reasons why. Now is your chance to make a big difference in something you believe in. Please write this brief statement to AAA. Include what you think of legislation and the specific elements of law that should be involved. If against it, please speak out. List reasons either way. This legislation could make all the difference for you or your family, so please answer honestly. Summary of Metting Our focus group was held at the La Vergne, TN public library. The date was Sunday, March 4, 2012 at 4 p. m. Most of the participants arrived on time, but one did not come at all. Another one arrived extremely late, and with an irritable attitude. Refreshments were served. Everyone seemed okay with the idea of being there, and light, friendly chit chatter occurred. The meeting was called to order, and everyone eagerly participated. Ideas flowed freely. There were opinions the entire spectrum. Some were in agreement with the state of Tennessee coming up with moderate laws governing cellular phone usage while driving. Others were diabolically opposed to the idea. One person became feisty and almost bellicose in her expression of her view. She said she had a real problem with the government trying to run her life. We all understood what she meant. When we were able to calm her down, the discussion continued without incident. Each person felt that something was needed but no one really could agree on what that â€Å"something† should be. It seems that much more discussion is needed on the topic. I would recommend that the state fund more groups meetings and have a smaller group to find a solution to the matter. It is my recommendation that we all meet again in a month to see if any opinions have changed. The meeting was closed, and everyone politely bid each other adieu, and we went home.

Nothing Essays (1070 words) - Real Estate, , Term Papers

Nothing A real estate investment trust, or REIT, is a company that buys, develops, manages and sells real estate assets. There are three types of REITs; they are equity REITs, mortgage REITs, and hybrid REITs. An equity REIT is a corporation that purchases, owns and manages real estate properties; it does not own or originate real estate loans. It may also develop properties. A mortgage REIT is a corporation that purchases, owns and manages real estate loans; it does not own real estate properties. It may or may not originate commercial and/or residential loans. A hybrid REIT is a corporation that purchases, owns and manages both real estate loans and real estate properties. It has the qualities of both an equity and mortgage REIT which is why it is referred to as a hybrid. One of the most distinguishing characteristics of a REIT is that they are required to distribute at least 95% of taxable income to shareholders. REITs allow participants to invest in a professionally-managed portfolio of real estate assets. This is important because prior to Congresss creation of REITs only extremely rich individuals were able to benefit from ventures in the real estate market. By pooling assets together in a manner similar to that of a mutual fund, REITs allow the everyday investor the chance to invest in real estate properties. The main benefit of a REIT is that it is exempt from double taxation. The normal corporation is taxed on earnings, and then when dividends are paid, the individual receiving the dividend is taxed. REITs can deduct dividends distributed from taxable income. This results in only one level of taxation. The main disadvantage of a REIT is that since nearly all earnings are distributed as dividends, the trust must find capital to reinvest into the business from other areas. These funds are usually raised by investments in the market, and through the capital gains realized from the sale of the REITs assets. The second method by which REITs procure capital to reinvest into the business raises an accounting issue regarding the classification of assets. Currently, the buildings and property that REITs utilize to raise income are classified as property, plant, and equipment. However, it can be argued that these assets should be classified as inventory. The accounting definition of property, plant, and equipment specifies those properties of a durable nature used in the regular operations of the business. These assets consist of physical property such as land, buildings, machinery, furniture, tools and wasting resources. With the exception of land, most assets are either depreciable (such as buildings) or consumable (such as timberlands). These properties do reasonably fall into this category, especially in the cases where the REIT is involved in managing the property and receives revenue from rents. The definition for inventory relates to asset items held for sale in the ordinary course of business or goods that will be used or consumed in the production of goods to be sold. It can also be reasonably justified that these assets fall into this category, this is the nature of REITs, to buy and sell real estate. This is a gray area in which reasonable people can disagree. It is my opinion that these assets should be classified according the companys honest intent for its use. Many REITs own and operate apartment complexes and have no intent to sell the property, but are content to manage the units and collect rent. In these types of cases the property is not being sold but leased. Therefore, PP&E would be the appropriate classification, similar to the method that car rental agencies use. But, if the company intends to improve and sell the property then the property should be inventory. This method would be similar to method by which securities investments are accounted for. Depending on the companys intent, securities can be classified as held-to-maturity, available for sale, or marketable securities. Since all these properties are currently classified as property, plant, and equipment, the issue of depreciation becomes important. If these properties were classified as inventory, then all maintenance and repairs would expensed as incurred, and no depreciation would be recognized. However, as property, plant, and equipment, maintenance and repairs would be capitalized and depreciation

Free Essays on Nixon

Richard Nixon’s Influence Upon Foreign Policy Foreign policy is the principle and activities that constitute the role of the United States in relation to the rest of the world. Foreign policy includes international matters, like participation in NATO, trade agreements, and maintaining peaceful relations with other countries. The primary goal of Foreign policy is National security because it holds the security of the United States, its citizens and their property. With Foreign policy the United States is able to keep international security and give economic aid to other countries. The head of Foreign policy is the President of the United States. The President has the power, granted by the Constitution, to be the commander in chief of all United States forces. He can enact treaties and meet with foreign leaders. Of our many presidents, Richard Milhous Nixon was considered to be an expert on Foreign policy. ( ) Nixon, our 37th president, was born in 1913 in Yorba Linda, California. He attended Duke University where he received a degree in Law. He served as a Congressman and Senator for his California district. Two years later in 1952, General Eisenhower chose Nixon, to be his running mate. As Vice President, Nixon took on major duties in the Eisenhower Administration. Much of his term was spent on trips abroad as a goodwill ambassador meeting with foreign leaders to discuss world problems, representing the President to Congress, and to help mend ties between opposing countries. He was also a target for anti-American protestors. One of Nixon’s most memorable trips was to the USSR, to help open a United States exhibition in Moscow. Escorted by Nixon, Soviet Premier Nikita Khrushchev was taken through a model of an American kitchen. While walking through the kitchen both men began to discuss the relative merits of the United States and systems of Communism. This discussion would later o n be noted as the â€Å"Kitchen Debate.† ( ) In t... Free Essays on Nixon Free Essays on Nixon Richard Nixon’s Influence Upon Foreign Policy Foreign policy is the principle and activities that constitute the role of the United States in relation to the rest of the world. Foreign policy includes international matters, like participation in NATO, trade agreements, and maintaining peaceful relations with other countries. The primary goal of Foreign policy is National security because it holds the security of the United States, its citizens and their property. With Foreign policy the United States is able to keep international security and give economic aid to other countries. The head of Foreign policy is the President of the United States. The President has the power, granted by the Constitution, to be the commander in chief of all United States forces. He can enact treaties and meet with foreign leaders. Of our many presidents, Richard Milhous Nixon was considered to be an expert on Foreign policy. ( ) Nixon, our 37th president, was born in 1913 in Yorba Linda, California. He attended Duke University where he received a degree in Law. He served as a Congressman and Senator for his California district. Two years later in 1952, General Eisenhower chose Nixon, to be his running mate. As Vice President, Nixon took on major duties in the Eisenhower Administration. Much of his term was spent on trips abroad as a goodwill ambassador meeting with foreign leaders to discuss world problems, representing the President to Congress, and to help mend ties between opposing countries. He was also a target for anti-American protestors. One of Nixon’s most memorable trips was to the USSR, to help open a United States exhibition in Moscow. Escorted by Nixon, Soviet Premier Nikita Khrushchev was taken through a model of an American kitchen. While walking through the kitchen both men began to discuss the relative merits of the United States and systems of Communism. This discussion would later o n be noted as the â€Å"Kitchen Debate.† ( ) In t...

Recognizing Employee Contributions with Pay

Recognizing Employee Contributions with Pay Introduction Compensation presents one of the most preferable ways through which employee contributions are recognized. Compensation program s is evaluated based on various job responsibilities which are assigned specified monetary value. However, various forms of compensation are undertaken based on federal laws of which organization managers are expected to be familiar with.Advertising We will write a custom essay sample on Recognizing Employee Contributions with Pay specifically for you for only $16.05 $11/page Learn More Payment for individuals, groups or excellent performances are done in form of executive pay, incentive pay as well as balanced scorecard. Organizations compensate their workers through various incentives supported by their company objectives. However, incentive pay for executives within an organization is usually different from that of other employees hence requires special attention. Such incentives either long-term or short-term are ne cessary for the purposes of developing some sense of commitment within organization’s leadership and workforce (Noe et al., 2009). Review of the case Considering that Xcel is a company dealing with environmental issues, Merit pay may not work well with its strategy on improving operations at the lowest cost. According to the case study, merit raise, works best during hard economic times since it caters for high cost of living. At the same time there are always high possibilities of prevailing conditions to shrink available range of increases. Additionally, merit pay spread pay increment evenly across all employees hence rewarding poor performance on the same level as good performance. Such method may ultimately not concur with the company’s strategy on lowering costs since it is expensive (Fossum, 2002). Spreading the merit pay evenly across all employees may benefit those who lazy around and cause frustration to hardworking employees. Suggestions might at times look a ppropriate but might not work well in line with the company’s business objectives (Gerhart and Milkovich, 1990). To ensure that incentives work for the benefit of the company, they will require improvement within communication channel and at the same time increase level of employee participation. Xcel should incorporate employees in pay-related decision since there contributions at times reflect hands-on knowledge on kinds of behavior essential for organization improvement (Gowen, and Jennings, 1991).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Since Xcel focuses on being one of the most celebrated top utility facilities offering efficient services at low cost, there goals and performances should be based on cooperation. Applying such principles would make employees feel more concerned about changes and goals of the company. They will always be eager to put across their contributions. Improvement on merit pay system For improvement purposes the company can include profit-sharing plan within the pay system. This is because merit pay is more directly linked to individual behavior compared to profit sharing plan. This is capable of linking to the strategy since it assists in increasing employees’ commitment towards organizational goals. Additionally, Xcel can utilize the use of balanced scorecard which enables combination of performance measures towards organizational goals. This enables easy utilization of employees’ potential through customization of balanced scorecards which would clearly distinguish Xcel’s operations based on strategy (Gerhart and Milkovich, 1990). Extension of the stock plan to other low-level employees might also be good idea for progress. This is since stock ownership plan contributes towards creation of some sense of ownership within employees. It makes them feel part owners of the organization hence maki ng them to focus more on ideas contributing towards success of the company (Gerhart and Milkovich, 1990). Conclusion Organizations use various ways to reward employee performances and at the same time measure such performances in terms of profits and stock prices. Incentive pay presents one of the most notable ways of organizations use for the purposes of ensuring that employees focus on company’s success goals. Such incentives ensure that employees realign their activities towards organization’s goals. References Fossum, J. (2002). Labor Relation. New York: McGraw-Hill Gerhart, B, Milkovich, G. (1990). Organizational Differences in Managerial Compensation and Financial Performance. Academy of Management Journal 33 (1), 663–91.Advertising We will write a custom essay sample on Recognizing Employee Contributions with Pay specifically for you for only $16.05 $11/page Learn More Gowen, C, Jennings, S.(1991). The Effects of Changes in Par ticipation and Group Size on Gainsharing Success: A Case Study. Journal of Organizational Behavior Management 11 (1), 147–69. Noe, R., Hollenbeck, J., Gerhart, B., Wright, P. (2009). Fundamentals of human  Resource management, 3rd edition. New York, NY: McGraw-Hill/Irwin.

2 essay of 2500 word, just choose from the list

2 of 2500 word, just choose from the list - Essay Example In this context, the success or failure of such cooperation depends on the success or failure of the foreign policies exchanged between nations. Focusing on the current scenario of international politics, foreign policies can occur as a result of mutual international cooperation, or political exploitation leading to even war. For instance, the political mayhem in Iraq can be described by means of analysing its foreign policies depicting a diverse picture of the country along with its various political parties, coalitions and other military disagreements. This section attempts to discuss the notion of foreign policy in general. Current political scenario on the international platform strongly advocates for the rapid rise in the importance of foreign policy. This further highlights the need to analyse the various meanings associated with the notion of foreign policy. This section tries to precisely describe the different connotations of foreign policy along with a number of examples from the foreign policies of various nations. The most important point in this analysis is to understand the basic issues and objectives of foreign policies with regard to its increasing complicated nature across countries. Understanding the notion of foreign policy involves its applications in specific case studies. That is to say, the theory of foreign policy can best be described in terms of some empirical examples. While defining the concept of foreign policy, the issue of ethics has a significant role to play. Ethics is further associated with the concepts of human rights and ‘mutual respect’ (Smith and Light, 2001). In this context, ethics is related to ethical behaviour, that is, behaviour in accordance with a set of moral rules incorporated with natural as well as universal laws. Along with these moral rules, the aspect of virtue is also included. That is to say, in the words of Smith and Light (2001), â€Å"the focus is not so much on what people ought to do when faced

Which architect or what building Inspired you to study architecture Research Paper

Which architect or what building Inspired you to study architecture and want to become a professional Architect - Research Paper Example The famous buildings in the world like the former world trade centre, white house, and other buildings in the world are constructed under architectural world. In the contraction of these buildings, creating thinking and manipulation in required. Material, light technology, and shadow have to be coordinated in order to give the house its expected design, and physical look. I was specifically inspired with the manner in which the former world trade centre was contracted which made me aspire to become and architecture. This paper will explore extensive reasons why I want to become a professional architect. It will also look at the work of my inspirational architect Minoru Yakmasaki in constructing the famous world Trade Centre and Pruit-Igoe. Inspirational Architect / Designer Minoru Yakmasaki My inspirational is Minoru Yakmasaki a Japanese-American architect. He is famous for his design of the twin towers of the World Trade Centre. Minoru Yakmasaki was born in December 1912 but later p assed on in February 1986. He is considered one of the most famous architects of the 20th century. He grew up mainly in Washington DC where he joined his high school. Minoru Yakmasaki later proceeded to University of Washington where he pursued a program in architecture in 1929 and graduated five years later with a Bachelor of Architecture. He tirelessly worked and later joined a master’s program at New York University. He is credited with many architectural designs as an employee of various companies (Killen 2007 p.212). Minoru Yakmasaki’s Architectural works Pruitt–Igoe Pruit-Igoe was an urban housing project built in St. Louis, Missouri in the United States in 1954 with the design done by Minoru Yakmasaki (Killen 2007 p.212). It is notably one of Minoru Yakmasaki’s first major assignments as architecture. The project as proposal by Yakmasaki was to include a mix of high-rise, mid-rise, and walk-up parts as noted by Trancik (1986). However, there were c ounter proposals to have the building built uniformly. Several architects, however, later jointly considered that Minoru Yakmasaki’s proposal was the best for the project and was therefore worth being adopted. The building was put up on a slum, which required the ground level to be raised in order to save on ground flow space for the sake of daily social activities. The building stood on about 57 acres of land within the slum. The building had about 2,870 apartments, their kitchens being relatively. Since the building was a storied building, it had elevators but the elevators could only serve certain floors. This meant that occupants of the floors not having elevators had to use stairs to climb. The floors were generally equipped with large communal corridors, garbage sites, laundries and the living rooms. The houses had poor ventilation, and dark corridors (Trancik 1986). All this were attributed to poor planning, and the fact that the materials used were of poor quality. Th e World Trade Centre The famous World Trade centre is another building designed by Minoru Yakmasaki. It was composed of a complex seven buildings with landmark twin towers in New York, United States. The construction of the building was designed in 1960s but was officially opened in 1973. The building was however brought down by terrorist attacks in September 11, 2001. The building had 110 story towers, which was designed using a tube frame structure. The building had to be fitted with elevators to allow ease of movement, as the building was too tall to use stairs. However, Minoru Yakmasaki did not find fixing the elevators easy, which he considered as one the

Vietnamese telecom market Essay Example for Free

Vietnamese telecom market Essay Introduction Together with breakthroughs in technology, mobile telecom has been showing great innovations and bringing enormous benefits to consumers. Vietnamese mobile telecom market, through only a few decades of development, has proven to be an extremely potential industry. With analysis from the microeconomic standpoint, I would like to clarify some notable matters seen in Vietnamese mobile telecom market today. This essay is organised in three parts: * Part I: Market Overview. This part provides brief information about development history of the market and what the situation of the market is nowadays. * Part II: Market Trends. This part deals with recent movements in Vietnamese mobile telecom market. * Part III: Consumers: Gain or Lose? The final part of this essay analyses the benefits and losses that consumers face as a result of recent changes in the market. PART I – Market Overview 1. Vietnamese Mobile Telecom Market: A Brief History As a developing country, Vietnam has its mobile telecom market started quite late. Though the demand for mobile services arose in the beginning of the 1990s, the first mobile telecom company of Vietnam – MobiFone – did not come into operation until 1994. This year marked the foundation of Vietnamese mobile telecom market. Following steps of MobiFone, two more company joined the market: Vinaphone (1997) and Viettel Telecom (â€Å"Viettel† for short) (2004). However, before 2000, the use of mobile phones seemed to be restricted for urban and rich people. At that time, only the rich could afford the cost of using mobile service. The cost for a postpaid subscription reached almost VND1,000,000 and the money consumed in one minute’s mobile phone call could cover the cost of food in a day for a rural family. One of the reasons for this extremely high cost was that the market at that time was highly monopolistic. Until 2000, there were only two mobile service providers in Vietnam, MobiFone and Vinaphone – both of which are subsidiaries of Vietnam Posts and Telecoms Group (VNPT). Most consumers were not wealthy enough to access mobile service, so they stuck to the use of landlines, which, in fact, were also not very popular especially in the countryside. The emergence of Viettel as a mobile service provider in 2004 was one of the biggest jump in the history of Vietnamese mobile telecom market. Viettel started to provide mobile services at a shockingly low price: a mobile phone user might pay as little as VND50,000/month only. This low price encouraged the quantity demanded for mobile services to increase sharply. As time goes by, the cost of using mobile phones has become cheaper and cheaper, causing the number of mobile subscribers to soar: at the end of January 2012, there were 118. 5 million mobile subscribers compared to only 0. 3 million in 2000. The number of service providers has also increased to 7: MobiFone, Vinaphone, Viettel, S-Fone, Vietnamobile, EVN Telecom and Beeline. Over 19 years of development, from a market exclusively for high-income consumers, the mobile telecom market has been recognised as one of the most active market in Vietnam and almost everybody, rich or poor, is capable of owning and maintaining a mobile phone. Why do service providers seek to increase their number of subscribers by lowering prices and giving big promotions? The answer is, in the short run, most costs incurred by a telecom firm are fixed costs, such as costs for infrastructure and bandwidth. Average total cost, as a result, decreases as the number of subscribers increases, thus making larger profit for the firm. Hence, firms have strong motivations to attract more and more people to use their services. 2. How the Market Pie Is Divided Today The current mobile telecom market in Vietnam can be seen as a typical monopolistic competition. Three biggest suppliers in the market are the ones with longest histories: MobiFone, Vinaphone and Viettel. All these companies are state-owned; MobiFone and Vinaphone are under control of VNPT, while Viettel is a subsidiary of Vietnamese Military Telecom Corporation. Together they control almost the whole mobile service market. According from statistics of the Ministry of Information and Communications, in 2011, Viettel was the leading firm with a market share of 36. 72%. MobiFone and Vinaphone stood at the second and third positions with 29. 11% and 28. 71%, respectively. In total, the three state-owned companies took up nearly 95% of the mobile service market, leaving just over 5% for the remaining service providers, namely EVN Telecom, Vietnamobile, Beeline and S-Fone. The reputation of these firms is so huge that once a person starts using a mobile phone, his first thought of what provider’s service to use that crosses his mind would generally be one of them. Three leading firms in the market pursue different business objectives. Aiming at low-income consumers, Viettel has applied low-cost packages to meet the needs of the majority of consumers. On the contrary, MobiFone and Vinaphone focus mainly on providing high-quality services to people with higher income. Below are the ranks in market shares and service quality of the three biggest providers of mobile services in Vietnam according to an examination conducted by Department of Information Technology and Communications Quality Management (under the Ministry of Information and Communications) in 2009: Provider| Market Share| Service Quality| MobiFone| 2| 1| Vinaphone| 3| 2| Viettel| 1| 3| Overwhelmed by big firms in the market, small firms such as S-Fone, EVN Telecom, Beeline and Vietnamobile have had to struggle to survive. Sharing only 5% of the market, these providers have been facing enormous difficulties in increasing the number of subscribers and profits. Two of them, EVN Telecom and Beeline, are eventually sold to other firms. These MA’s will be analysed in the following part. PART II – Market Trends The three leading firms in Vietnamese mobile telecom market – MobiFone, Vinaphone and Viettel – now possess great market powers, and naturally they desire to take over the small firms in order to have more control of the market. Below are three notable events that have occurred recently in the market which would have lasting effects on its path of development in the future. 1. Viettel’s Acquisition of EVN Telecom EVN Telecom is a company belonging to Electricity of Vietnam Group (EVN). Joining the mobile telecom market in June 2010, after just over one year of operation, EVN Telecom faced the risk of being acquired due to poor business outcome (slow subscriber growth, unsatisfactory revenue, pressure on EVN to focus on its major field, etc. ) and substantial liabilities to Viettel and VNPT. Some telecom firms had the intention of acquire EVN Telecom, such as Viettel, FPT Group and Hanoi Telecom (the owner of Vietnamobile). After many speculations about what firm would take over EVN Telecom, it was officially announced that EVN Telecom was going to be sold to Viettel. However, the acquisition was not smooth right from the beginning. In November 2011, Hanoi Telecom expressed its view that Viettel’s acquisition of EVN Telecom might violate Competition Law, emphasising that it would probably make Viettel a monopolistic firm in the market. Until December 2011, Government eventually agreed on Viettel’s plan as in this case, Viettel was merely a market leader, not a monopolistic firm. 2. Beeline Disappeared in the Market. In 2009, GTel Mobile Company, a joint venture of GTel Global Telecom Corporation of Vietnam and VimpelCom Group of Russia, brought Beeline mobile telecom service into operation in Vietnamese market. However, after three years, VimpelCom decided to sold all of its 49% of shares in the joint venture at US$45 million to GTel â€Å"in order to focus on our key markets†, said the Vice President of VimpelCom. Of course this is not the real answer to the question of why VimpelCom withdrew from Vietnamese market while it had not broken even, regarding its total investment of up to US$463 million. Right after its debut in the market, Beeline conducted many discount programmes and promotions to raise the number of subscribers, such as Big Zero and Millionaire’s Cost Package. These policies thus lowered its ARPU to less than US$1. Moreover, its shockingly low prices cannot help them surpass the â€Å"giants† in Vietnamese mobile telecom market whose brands have been set in minds of consumers though its subscriber growth was exceptional: about 15,000 new subscribers per day in 2011. The fact that Beeline’s profit did not live up to its VimpelCom’s expectation caused it to constrain Beeline’s operation and eventually to sell out its shares to GTel, making Beeline a completely domestic brand. Many people would doubt whether Vietnamese mobile service market has become â€Å"immune† to foreign investment as VimpelCom has failed to make profit here while it has been extremely successful in Russian and Eastern European markets. Is the market so saturated that no new firm could possibly achieve a market share from the hands of established firms? Will VimpelCom’s failure warn foreign investors against entering Vietnamese telecom market although we have been a member of WTO for five years? 3. MobiFone and Vinaphone to be Merged March 2012 was a month of vibrancy in Vietnamese mobile telecom market when rumour had it that MobiFone and Vinaphone, two out of the three biggest service providers, would be merged as a step to restructure VNPT. MobiFone and Vinaphone have followed different development directions despite being subsidiaries of the same group, which has been an enormous waste in infrastructure. A merger of the two companies is expected to improve service quality and efficiency, thus lowering the prices charged on consumers. This information was confirmed by VNPT’s management though an official decision of Government has not yet been made for fear that this merge might violate Competition Law. If the merger of MobiFone and Vinaphone is successful, the new company will constitute almost 58% of the market, threatening the survival of other companies, especially small firms like S-Fone and Vietnamobile. Earlier in 2011, according to the regulations of Telecommunications Law – an individual or organisation is not allowed to own more than 20% of shares in each of two telecom firms operating in the same telecom market – VNPT stood between two options: equitising either of MobiFone and Vinaphone or merging the two. If choosing to equitise MobiFone, VNPT still could not own more than 20% of shares and might have to sacrifice a large amount of profit as MobiFone contributed to over 50% of its profit while taking up only about 4% of human resources. The second option – a merger – would subject VNPT to violation of Competition Law. On the other hand, according to the Vice Head of Department of Competition Management (Ministry of Industry and Trade), market share is not the only criterion to examine VNPT’s merger scheme as it may vary from year to year. Competition power, market access capacity, opportunity seizure, etc. are vital elements to be considered. The cornerstone of the merger, if successful, is a close supervision and control of Ministry of Industry and Trade as well as Ministry of Information and Communications. 4. What Are the Trends? Along development steps of the market are the shifts showing what its trend is. Overall, Vietnamese mobile telecom market, although service quality has been greatly improved and price never stop falling, has hardly ever been viewed as a competitive market. At first, it was a complete monopoly, and then reached the peak of competitiveness with 7 suppliers; now it is getting closer and closer to an oligopoly. (For illustration purpose only) The market now is the race between VNPT and Viettel. Nevertheless, this is a counterfeit competition as both are state-owned firms. Government ought to study this matter intensively since it has both advantages and disadvantages. If it continues to let the two compete with each other, consumers will benefit while state funds invested in them will be partly wasted due to self-competition and vice versa. PART III – Consumers: Gain or Lose? 1. Competition Makes Consumers Better off Most mobile phone users would agree that they are benefiting more and more from service providers’ policies. Ten years ago, only wealthy people could own a mobile phone and afford the use of mobile telecom service, which is a completely distinct from today’s situation where mobile technology is nothing strange to most people, regardless of their income. The shift of the market from a monopoly to a more competitive one enables consumers to choose the service provider which suits them best in quality and price. Landlines services are being outnumbered by mobile services and will probably soon become obsolete as now they cannot compete with mobile services in price, let alone in convenience, diversity and flexibility. In addition, telecom services are the only items whose prices have constantly decreased, moving against the storm of inflation in Vietnamese economy. D2 S11 S2 D1 E1 P1 P2 E2 Q2 Q1 (For illustration purpose only)| The increase of quantity supplied is greater than the increase of quantity demanded, making the equilibrium point move from E1 to E2. At E2, P2 is lower than P1 and Q2 is larger than Q1, which makes consumers better off. | 2. The Trend of Monopolisation: Would Consumers Suffer? Monopoly causes deadweight losses – this is undeniably true. Though consumers have been enjoying more and more benefits from service providers at least in the past few years, we may wonder if this could last for long when it comes to the trend of monopolisation which is becoming clearer and clearer in the market. After EVN Telecom and Beeline, will there be another acquisition that makes another small brand disappear? Will big firms take over all the small ones to rule the whole market? If someday there are only state-owned companies providing mobile services, will they agree with each other to raise service prices and prevent new firms from entering the market, which undoubtedly shrinks consumer surplus? Suppose that day would come, consumers may try to constrain their use of mobile services. However, the amount of reduction would be negligible since mobile services are now so necessary that the demand for them is relatively inelastic. Consumers today are richer and much more dependent upon mobile services than they used to be; therefore, it would not be easy for them to cut down on using mobile phones to save money. Service providers would keep earning more and more profits from consumer welfare. In general, monopolisation harms the benefits of most people while benefiting only a small group of people. Monopolisation is a two-edged trend, so it is important to balance the benefits between suppliers and consumers. An ideal mobile service market may be one with a small number of firms, i. e. three or four, but with comparatively uniform market shares. This enables infrastructure to be effectively exploited as well as market power to be evenly distributed among suppliers, reducing the probability of a monopoly arising. Conclusion There would be not enough space to discuss all factors of a market within a short essay; however, I have tried to apply microeconomic theories to analyse notable features and remarkable changes in the market that have had significant influences on consumers, together with given personal evaluations and opinions about the development trend of the market. I hope that eventually I have achieved a clarification of economic principles hidden in daily-life matters such as behaviours of firms and consumers in the mobile telecom market in Vietnam. Due to time pressure as well as inexperience in researching and writing, my essay may contain errors and misunderstanding. I would like to receive your feedbacks and suggestions to help me improve its accuracy and quality. Reference * Gregory Mankiw, Principles of Microeconomics (5th Edition). * VnExpress. net, Development of Vietnamese Telecom Market. * CafeF. vn, Viettel’s Aquisition of EVN Telecom Might Violate the Law. * Tuoitre. vn, Beeline Is to Disappear. * Tienphong. vn, Merging MobiFone and Vinaphone: Good and Harm. * Vcci. com. vn, Telecom Market: Back to Monopoly? * National Assembly, Competition Law, 2005.

Pyromaniac :: Personal Narratives Fire Essays

Pyromaniac A secret label, hushed and never talked about, has followed my name since I was born; â€Å"Pyro,† pyromaniac that is. Fascination with fire, the uncontrollable impulse to start fires, has been circulating in my blood from the first day I was born. Smelting heat and flames would spark my attention no matter what my surroundings. Candle lit dinner tables, switch flick colorful lighters, lit cigarette butts and burning matches. Oh matches! How I love them. The smell of gasoline has always been a heavenly scent, burning paper and bonfire parties are two of my other favorites. Smokey haze has always soothed me. One crisp October afternoon, however, that soothing smoky haze turned against me. I was fourteen years old, my parents were not home but my partner-in-crime, Anne, was by my side. Anne was my best friend throughout my childhood years, we did everything together. On weekdays after school, Anne and I headed to my house to be greeted by my comforting living room for our ritual TV session. Saved by the Bell was our preferred program. With the TV blaring in the background, we scattered our homework about the floor as if we had been studying, just in case my mom showed up unexpectedly. We left behind stained crumpled napkins, half eaten snacks and soda cans with few sips drawn from the lip, as we began the hunt for after school excitement. Suddenly, an idea mazed through my intricate thought process until it burst. The explosion erupted and excitement swam through my bones, in and out of every limb and muscle. I jumped, â€Å"let’s light something on fire in the garage.† It would be safer outside of my house, I thought (no one will see us). My garage contained two small tinted windows, so that no one could peer inside, no one could catch us in the act of the crime. Anne’s face lit up with excitement as she said, â€Å"Ok, I’ll grab the toilet paper and napkins, you grab some writing paper.† Our plan was set. We scurried to the garage, carrying paper and other â€Å"burnables.† Matches were always better than lighters for experiments such as these. For our first experiment, we ignited napkins and paper, but the excitement quickly fizzled. Having lost our initial adrenalin rush, we began to search for more dangerous â€Å"flammables.

Double-crest Cormorant

The Double-crest Cormorant is more or less uniformly distributed throughout the country. It is seen in temperate climates with most concentrated in the upper half of the United States. Judging from the map, they seem to be attracted to heavily wooded areas such as northern California and Oregon, the Dakota’s in the Midwest and northern New England. The exception to this is the relatively concentrated population in south east Florida. Because of their seeming desire for temperate wooded areas, I would say that this bird is a specialist. Great Blue Heron The Great Blue Heron is definitely a generalist.It is spread all throughout the country with heavy concentrations mostly in the southern part of the United States. It seems as though it does best in the Midwestern and southern parts of the country but also has significant populations in the desert areas of Arizona and New Mexico and the harsh winter climates of the most northern parts of the country. Wood Stork The Wood Stork is definitely a specialist. Its populations are seen exclusively in the South and the Southeastern parts of the country with its heaviest populations in Florida and more so in south Florida.It seems to do best in hot climates with high humidity and is never seen any further North than Tennessee. American Robin The American Robin is by far the most populous bird in this group. It is seen in nearly ever state in the country, with the exceptions being Florida and much of Texas, making it a generalist. Its most significant populations are in the Northeast, Southeast and Midwest but it is generally well distributed throughout the whole country. Work Citied â€Å"Breeding Bird Survey Summary and Analysis. † USGS Bird Population. USGS. 28 Mar. 2006 .

Othello Analysis Essay

Jealousy is defined as feeling and/or showing envy of someone for their achievements and advantages. Jealousy is known to be one of the world’s worst emotions, except jealousy is not an emotion. Jealousy is a deadly disease and should not be considered an emotion proving that while in a jealous state there is a complete loss of control. A person in the jealous state is completely incapable of controlling their emotions, behaviour and their intellectual process making them vulnerable in all situations. The play Othello written by William Shakespeare proves to be one of the most profound pieces of literature includes many characters that are diagnosed with the deadly disease that is Jealousy. â€Å"O, beware, my lord, of jealousy; /It is the green eyed monster which doth mock/ [t]he meat it feeds on† (Othello, 3.3.165-167). A very vital and traumatizing symptom that comes with having the Jealous disease is the psychological loss of control. The diagnosed character is incapable of controlling their thoughts, often leading them to making unreasonable decisions. In the play Othello, we see many characters that are ill with the Jealous disease and are battling to keep their thoughts intact. Iago is one of the first characters to be introduced into the play who possess the illness. When Iago proves to have the symptom of psychological control loss, we can see it when he states, â€Å"I am not what I am† (Othello, 1.1.65). This is very significant because throughout the play it is established that Iago is really contrasting the character who he claims to be; loyal and honest. It is given that Iago is possessed by his illness; forcing him to be the deceiving, smart, and insincere character. When Iago loses psychological control, he makes a decision far too quickly, without processing all the elements. â€Å"Call her father, Rouse him. Make after him, poison his delight, Proclaim him in the streets. Incense her kinsmen, And, though he in a fertile climate dwell, Plague him with flies.† (Othello, 1.1.68-71) In this passage, Iago is speaking with Roderigo and has invented plans to destroy Desdemona and Othello’s secret relationship by exposing them to Desdemona’s father, Brabantio; awaiting him that the two have eloped. Iago does not take a moment to reconsider the steps he wishes to pursue as a normal person would, Iago does not judge the consequences of his actions or what affects might it cause. This passage is very significant because it is this one simple decision made by Iago that determines and introduces all the other conflicts later in the play. It is established that Iago is in a Jealous state, that he is not in control of his thoughts and should not be held accountable for any actions he may pursue. One who has what is deemed a â€Å"normal† intellectual process can move forward to collecting their thoughts to make rational decisions, contradictory to one who is sick with the Jealous disease who lacks to control their thoughts. As we can see through Iago the Jealous disease has a powerful symptom that controls your intellectual process and therefore someone should not be held accountable for their thoughts while in jealous state, for Jealousy is what triggers a character to performing abnormal acts, this leading to the next symptom, symptom of changes in behaviour. A person must always have control over their actions because as we all know, if they do not have power over their actions, it may lead to their downfall. Many characters in the play had uncontrolled actions that led to their own defeat as result of being in the Jealous state. The main character Othello, the brave Moor who was always taking cautious steps as a leader, quickly changed when he went into a Jealous state. â€Å"I love thee;/[b]ut never more be officer of mine† (Othello, 2.3.227-228). This passage proves the courageous Othello when he took away Cassio’s position, for the benefit of the citizens of Cyprus. â€Å"Devil! (s triking her)† (Othello, 4.1.228). This passage is where Othello is incapable to control his actions and slaps Desdemona in front of a crowd surprisingly to the original characteristics that defined Othello initially. If you compare the two passages you can distinguish the difference Othello in a balanced and unbalanced state. The illness that transmitted into his biological system quickly, took over his ability to have power over his brain. â€Å"It is too late. (he smothers her)† (Othello, 5.2.83). This passage is very significant because as the reader we know that Othello’s love for  his beloved wife is pure and he would never commit such a crime, but since Othello is unable to break his bond of the Jealous disease, Othello kills his own wife. Othello wanted to be the dominate power, and had no power over his decisions of actions leading to his downfall. The actions one takes are controlled by their thoughts and emotions which neither of is a person in a Jealous state able to control. The emotional trauma that one feels while fighting the Jealous disease is horrifying. They are incapable of controlling their emotions and have high mood swings, which can result in overpowering their intellectual thought process that moves forward into taking control of their actions. In the play we are able to see characters whose emotions are uncontrollable and change very quickly. First, we have Othello who is in a battle with his emotions when he learns that Desdemona may be having an affair. â€Å"Farwell the tranquil mind! Farewell content!† (3.3.356) This is the first quote from Othello and shortly after he says, â€Å"Villain, be sure thou prove my love a whore, Be sure of it.† (3.3.367-368) as we can see Othello is going from insane to angry, and he has no control over who he has rage towards, for a second it is Desdemona and the next second it is Iago. Othello conflicts with the multiple emotions he is feeling and is has no power over the release of his emotions. This signifies that Jealousy is a disease because Othello does not feel â€Å"jealous†; he feels many other emotions in this moment of the play while ill. Roderigo who also suffers from the Jealous disease also is unable to control his emotions. â€Å"Nay, I think it is scurvy and begin to find myself fopped in it.†(4.2.201-202)In this passage Roderigo speaks to Iago telling Iago that he knows Iago is cheating him. Although later in the play, Roderigo continues to work with Iago in hopes of killing Cassio. â€Å"And yet he hath given me satisfying reasons.†(5.1.9)As we observe Roderigo, we observe his different and quickly changing emotions around Iago. Roderigo although figuring out that Iago is not a good person, when in a Jealous state cannot control his emotions and feels that Iago will be loyal in the end, this leads to his own downfall because in the end it is Iago who kills Roderigo. This signifies that a character with the Jealous disease is unable to control their emotions and have emotions controlled by a disease. Just as they have no control their behavioural and psychological changes. All in all, through the play Othello we learn that jealousy is a disease so strong;  no one can control their body. Their emotional, psychological, and conduct processes all change and make it very hard to process like normal. A person fighting this illness is very unhealthy and unsafe; which often leads them to their own destruction. There is no medication to cure the disease and no one should be held liable for their thoughts, actions or emotions. We can use this lesson as an example to help us think of jealousy as the disease it is and find a cure or a method to relieve a patient from all that they go through when in a jealous state.