Analysis of Annual Reports for Personal Investment

Topic: Analysis of Annual reports for personal investment 1. Executive Summary Assignment Background: In this assignment, I take the role of an investor looking to invest an amount of USD 50,000 in the capital of a public limited company. To wisely invest, one needs to do a thorough comparative study of the annual reports, stock market performance, news, strategies, vision of the companies, etc to reach a conclusion. I have taken up two companies in the financial sector – namely, Amlak Finance PJSC and Tamweel PJSC for this study. Currently, I am working in Dubai in the IT sales sector and both these companies are my customers and they are heavily investing in IT security. This is the reason for my special interest in†¦show more content†¦Their staff strength has also increased to 400 employees. All these indicate a positive growth of the organization. With reference to the annual report (reference cited), please find below some screenshots that indicate the balance sheet trends, key ratios, assets and liabilities of Amlak Finance. These charts are from the annual report published by Amlak finance available from the following link. Figure 1: Balance Sheet Trends and Key Ratios:1 Figure 2: Income Statement1 Figure 3: Assets1 Figure 4: Equities and Liabilities1 In the year 2007, we see that the there has been a significant growth in Amlak however, at the same time; there has also been an increase in the liabilities as well. From Figure 3, we see an 87.5% increase in the assets of the firm. Interestingly, Figure 4 shows that the liabilities are also as high as the assets (an increase of 87.5%). â€Å"In the year 2008, Amlak aims to achieve a growth of 70%. Amlak’s 2007 revenue was posted at AED 706 million, up 85% against 2006, with the company’s primary line of business – i.e. - property finance contributing 65% of the total revenue. Meanwhile, the EPS saw an increase of 122%. There was also an overall increase of 99% in the company’s overall volume of business.† In short, the company is showing positive signs of growth – both in terms of the size and number of employees and in terms of the gross turn over.Show MoreRelatedFactors Influencing Individual Investor Behavior1439 Words   |  6 Pages Statistical analysis technique 10 10 10 10 10 11 5. INTERPRETATION OF RESULTS 11 6. SUMMARY AND CONCLUSIONS 12 TIME FRAME 13 REFERENCES 14 2.4The Relevance of the study This study aims at exploring the KSA investor’s behavior, appear the first attempt to be undertaken in the KSA. The study is important for individual investor, companies listed in Saudi Financial Market and Government. 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Review on the Human Rights Watch Veggies Gone Wild Video

Through our daily lives, we all consume, purchase and utilize multitudes of products that we sometimes neglect to fully understand how they were able to reach our possession. The uproar of clothing made in sweatshops overseas by under aged laborers fills the newspapers and protest are seen worldwide on the issue, but the truth of the matter is that the United States have a child labor issue right here in our own backyard and a simple internet video, Veggies Gone Wild!!! by the Human Rights Watch organization on YouTube led to research a scenario that is not usually considered as middle class families sit down for their nightly dinners. Creating videos to share on the internet is becoming a tool that is utilized by many activist organizations because of the low cost of hosting the videos and the ability to have the video to reach genres that might never have seen it before. By taking on the popularity of stop action filming, the video is a constant streaming of fresh fruits and vegetables, creating eye-catching words and shapes with a light and airy music that draws you into a subject that is far more serious than the atmosphere of the video presents. You are eventually presented with real, live-action video of children working in the fields to pick the same fruits and vegetables seen in the earlier footage. In the end, the video encourages viewers to contact their congressmen and push for the support of US House Resolution 3564, The Children’s Act for Responsible

Infosys - Challenges and Opportunities of Organizational Behavior

Question: Discuss about OB challenges at Infosys. Answer: Introduction With a US $9.5 billion LTM revenues and an employee strength of more than 1,94,000, Infosys, after Tata Consultancy Services (TCS), is the second largest IT company in India. It mainly deals in Business Consulting, Strategic Consulting, Software Engineering, Operational Leadership, provides solutions in Mobility, Sustainability, etc. software related services. Founded by N. R. Narayana Murthy along with 6 other colleagues in 1981 in Pune, India, Infosys currently has 950+ clients in 50 countries (Infosys, 2016). Along with its main IT business, Infosys has a number of subsidiaries like EdgeVerve Systems (innovative software products), Infosys BPO (integrated, end-to-end Business Process Outsourcing), Infosys Consulting (Business Consulting), Infosys Public Services (US based subsidiary partnering with public sector organizations in US and Canada), Skava Systems (digital services on mobile). Infosys is led by principle of CLIFE. Customer delight: To meet and exceed client expectations always. Leadership by example: To set industry standards, lead the way in whatever it does and to be an exemplar in their field. Integrity and transparency: To maintain ethical and transparent functions in all their transactions. Fairness: Earn respect and trust from all the stakeholders by being fair and just. Pursuit of Excellence: To be the best in the industry through pursuit of excellence by the company, the teams and services and products by the company. (Babu, 2013). This statement serves as the value statement, vision and mission of the company and drives its employees to excellence. Infosys recently has undergone two major changes viz. changes in its upper management starting with recruitment of Vishal Sikka and removal of Bell Curve performance evaluation system. Mr. Sikka is the first non-founder CEO of the company. The latter, a forced ranking system, has been removed in an effort to curtail the high attrition rate. Infosyss strength lies in the fact that existing in Indian landscape, it has easy availability of highly skilled English speaking workforce and that too at comparatively lower rates. Further, due to being one of the pioneers of Indian IT industry, Infosyss financial position is very strong which gives it leverage to exist, experiment and survive in the highly competitive Indian IT industry (Jha, 2014). A few of the areas in which Infosys can be suffered to improve include its high attrition rates and its smaller size as compared to its global competitors such as HP, IBM, etc. Why Infosys Indian IT industry is plagued with high attrition rates all over the industry. However, even in such a volatile HR environment, Infosys has been especially noteworthy because of its exceptionally high attrition rates. In recent years, Infosys has faced quite high employee attrition rates, which peaked to around 20% in 2014 (Verma, 2015). Organizational Conflict constitutes one of the main reasons for this exceptionally high employee turnover rate and at Infosys, a lot of individual and team level problems are believed to be the main cause for such. Infosys, in 2015, declared that it will be getting rid of its Bell curve appraisal system. Forced ranking system, as it is sometimes called, is often at the root of a number of employee problems since the system is believed to be inefficient. Post removal, Infosys was predicted to have an attrition rate of only 13%. Hence, it will be worthwhile to note its performance in this regard also. (Verma, 2015). Bell Curve Appraisal, introduced by GE, is a rigid framework wherein a manager is forced to slot the employees functioning under him into three different categories based on his judgement of their annual performance. The system is not only ambiguous, it also gives a lot of power to middle management while leaving employees powerless. The major OB issue focused in this study is the high employee attrition rates faced by Infosys and an attempt has been made into analyzing the different reasons for this phenomenon. Discussion analysis of three OB issues Individual level issues Indian IT companies are famous across Indian college campuses for being mass recruiters of fresh talents. While this is a highly advantageous situation for students from CS and IT streams since even Tier II and Tier III colleges are able to get 100% placements done, the picture is not equally rosy for students from non-CS and IT branches. Though hiring is done for even non-CS, IT branches, the majority of work in these companies remain related to CS and IT only. According to Upadhyay, Singh, Jahanyan, Nair (2016), Integration between the persons expectation from the role and the role offered to him is required for increasing the effectiveness at work. (para 1). While such acts ensure that organizational diversity is maintained at a certain level, it creates high work pressure on such individuals along with high level of dissatisfaction. The situation is often abetted by the lack of role clarity that often exists in such situations. Since the work orders come from senior managers and work is then distributed to the employees, often distribution of the work is haphazard. The hierarchy of communication makes it difficult to contact the senior managers directly and clarify your doubts. The result of this is that at the working level where an employee is in direct contact with a client, an employee rarely has any sort of empowerment. Communication channels have to be then setup to clarify the situations from senior managers leading to time delays and thus inefficiencies in the system. Another aspect of working in an IT BPO is the lack of development and growth opportunities. Not allowing a person to utilize his skills and abilities to their full potential leads to stress and eventually burnout in an employee and thus disengaging him from the organization. To avoid this, organizations often send employees to career planning sessions, seminars, etc. However, as discussed earlier, if a person is not given a correct role, all such measures are ultimately futile. Analysis Expecting a person from completely different stream to excel at another stream very fast is unfair not only to the individual but also harmful to the organization. As regards to communication channels, often the whole mechanism is stuck when some out-of-the-way problem occurs to which employee is not used. The lack of employee focus at Infosys along with a dearth of employee development plans and activities have led to a significant increase in the attrition rates at Infosys and have necessitated swift action from management side to control the situation. Organizational level issues Easy availability of proper communication with senior managers is a rare phenomenon in Indian IT industry. The complex hierarchical level followed by Infosys is a testimony to how little interaction takes place between senior management and base level employees. Communication performs the functions of facilitator in decision making, role clarity, motivator, employee engagement and many more, small and big tasks in an organization (Robbins, Judge, 2013). This is further exacerbated by the type of appraisal system prevalent in the company wherein mangers are not responsible for explaining it to the employees that on what basis were they scored and appraised. This leads to creation of an atmosphere of mistrust and dissatisfaction towards management from employees. This can safely be attributed to a Middle management crisis going on in Infosys and which should be looked into as soon as possible. A major part of costs in the IT companies involve HR related costs. In such a scenario, when Infosys started making lesser profits because of industry downturn, it decided to cut-off its employee benefits to still make up the company profits. Not only variable pays were reduced by more than 100%, around 2003, Infosys stopped giving even ESOPs (Correspondent, 2014). Rewarding an employee for a job-done-well is as much important a part of running a successful business as it is to make sure that the job is done well in the first place. In absence of such, employee morale goes down, motivation levels reduce and employees feel disengaged with their job. Analysis Communication is not only important for the functioning of processes, open communication with managers is important for employee morale and their emotional wellbeing. If due to lack of proper communication, an employee feels cut off from the organization since he is unable to discern the ultimate purpose or result of his work. Again, rewarding an employee duly is important for maintaining morale as well to give him appreciation for his work. Curtailment of a major part of rewards at Infosys led to a significant downturn to employee morale. Appraisal process The appraisal process is often seen as a report card for an employee and often it defines his future in the organization. According to Swanepoel, Erasmus, van Wyk, Schenk (2000), The formal and systematic process of tabulating the strengths and weaknesses of an employee, that he exhibits in his workspace, is known as appraisal process. It also brings in the concept of organizational justice wherein an employee who believes that his appraisal has been done in a fair and just manner is highly satisfied with the company (Palaiologos, Papazekos, Panayotopoulou, 2011). The appraisal process followed by Infosys is Forced ranking method or the Bell Curve method wherein managers mandatorily have to classify employees into three different categories viz. 70% average, 20% above average and 10% below average. This kind of a system categorizes individuals performance on a yearly basis. Since the appraisal has to be done by a superior, there are always chances of leniency, partisanship and halo error rather than meritocracy. Another issue is that the process being an annual appraisal process it is, prone to recency bias. While it is supposed to be a scaling of employees performance over a complete year, often the activities of an employee in the recent months colours the performance appraisal. Again, in forced ranking system, managers can easily do away with the responsibility of explaining it to his subordinates the basis on which their ranking was done since there is a necessity to force people into certain categories. Analysis Performance appraisal usually affects employee morale and satisfaction is a big way given the fact that the future of an employee is decided by the appraisal. Under bell curve appraisal system, majority of employees ended up being average performers which creates a feeling of dissatisfaction in employees who work hard the whole year round but just cant reach that coveted top 20%. The system also leads to development of inter-team friction as a feeling of competition is generated within the team to reach the top slot. Recommendations As propounded by Maslows need hierarchy theory, for happiness and satisfaction, a person has 5 different types of needs, the fourth of which is self-esteem. Once the initial needs like physiological, social and security needs are met for a person, which usually are in case of an IT employee, the next thing he seeks is a boost to his self-esteem. This can be achieved at Infosys through granting of autonomy to an employee, giving him recognition, etc. For this, efficient hiring along with proper role description is very necessary. Further, once hired, an individual must be given correct position so that the transition into the organization is easy. Further, developing career development plans for the employees would satisfy the employees need for achievement and increase his overall satisfaction. Since communication plays one of the biggest role in any organization, it is important that communication channels are not only efficient but also effective. Setting up of direct communication channels between senior management and base level employees is a need of the hour for Infosys. Not only would it increase the organizational efficiency whole company wide, it would also help in employee retention also. Existence of an effective communication channel would mean increase in employee satisfaction and commitment to the company and in turn would improve the customer satisfaction levels thus helping Infosys reach its value proposition of customer for life. By changing its appraisal process from Bell curve to Open Ranking system, Infosys took a major step towards controlling its high attrition rate in an industry riddled with very high attrition. This cognizance of its limitations and weakness gave Infosys a significant competitive edge over its competitors who were still struggling with employee turnover thus converting one of its most notorious weakness into a strength. Being a year round affair, the new performance appraisal system, called as iCount, is supposed to give employees feedback whole year round based on specific goals assigned to an employee (Sen, 2016). Such an appraisal system is supposed to increase the chances of employee growth, both personal and professional, and hence make employees more committed to the organization. Conclusion To conclude, by removing bell curve appraisal system from Infosys, Vishal Sikka ensured that a few of the most prevalent employee problems are well on their way to being solved. It is not only expected to reduce employee turnover rate, but also improve the organizational harmony as well as inter team adhesion. Due to removal of peer to peer comparison, the intensely competitive environment of Infosys is now expected to significantly lighten up. Further, it is important the management at Infosys realizes the importance of proper task allocation to appropriate individual so that there is role clarity and an employee can perform at his best. There is a concomitant need for establishment of more effective communication channels so that management can get to know what the employees are saying and work upon any feedback they get. They need to make senior management more accessible so that employees do not keep their grievances to themselves and finally prefer to leave the system rather than help improve it. Existence of effective channels of communication will also help reduce inter team cohesion and bring harmony across the organization. Arrangement of more employee engagement programs such as celebrations, etc. are expected to improve employee commitment to the organization while arranging team engagement activities like outings and dinners would help improve team bonding. Improvement in its salary structure, especially the variable component, more open communication, encouraging free speech, etc. are some other steps Infosys can take to ensure new employees join the company with a vision of long engagement with the company rather than just a stepping stone for better horizons. Once bellwether of Indian IT industry, Infosys, in the past few years lost its position in the industry due to certain troubles including but not limited to HR related issues. The situation grew serious to such levels that, in 2013, the long retired company founder and leader, a firm believer in retirement at 65, had to come back at the helm of the company to drive it out of the muddy waters it had landed itself in. Soon, a year later, Vishal Sikka was hired who brought in significant changes to the flailing company and even generated substantial profits for the company. Infosys being the giant that it is, it retains its robust fundamentals, skilled employees and the highly effective delivery engine and continuing on its current trajectory, is set to regain its position of being industry bellwether once again. References Babu, S. (2013). Infys real problem is not looking beyond founders. Hindu Business Line. Correspondent. (2014). Infosys takes step to stop high attrition. DNA. Infosys. (2016). Infosys. About us. Jha, A. N. (2014). The REAL problem of Infosys. LinkedIn Pulse. Palaiologos, A., Papazekos, P., Panayotopoulou, L. (2011). Robbins, S. P., Judge, T. (2013). Essentials of organizational behaviour. Pearson Higher Ed. Sen, A. (2016). Infosys ahead of bell curve, to evaluate staff with new performance appraisal system 'iCount'. Swanepoel, B., Erasmus, B., van Wyk, M., Schenk, H. (2000). South African Human Resource Management: Theory and Practice.

Project Cost And Quality Management Plans For Poly Products Industry

Question: Discuss about the Project Cost And Quality Management Plans For Poly Products Industry. Answer: Project cost management plan It is a plan that represents policies, procedures, and documentation of how to estimate, budget and control costs of a project(Larson, 2011). Poly products industries cost planning andmanagement was based on proposal seeking bids to produce 10000 rubber components. The planning involved addressing cost risks, estimates, and budget for overheads used in production process(Phillips, 2013). Project cost planning Project planning is important in ensuring that resources are estimated and budgeted in effective and efficient manner(Bryde, Broquetas Volm , 2013). Project costs estimates and budgets for poly products industries were based on market survey of the current prices with comparison of other industries. Bottom up estimating approach was used to estimate the work packages of the project. Poly products work was divided using work breakdown structure which was used for budgeting and estimation process. Project cost risks The several risks facing project costmanagement of poly products industries include: possibility of union strike for salary increase of 1% per quarter and the current workforce increasing its rate of overtime to a value of 0.75%. In future the value of raw materials would increase making the cost of production to be higher. Project estimates and costs The following exhibits show summary of cost estimates, and budget for poly product industry. Staff overhead estimates The estimates were based on the different units, hours worked, and grading structure for 800 employees engaged. The proposal on the overhead was to increase and decrease at 10% for those below and above grade 7 in the structure. Table 1 shows a summary of estimates for workers in different units as per the hours structure. Table 1 Unit staff overheads Staff unit/section Hourly rate Research and development 1594 Design 1416 Project engineering 1235 Project management 730 Cost accounting 1010 Contracts 214 Publications 277 Computers 165 Manufacturing engineering 279 Industrial engineering 176 Facilities 680 Quality control 363 Production line 3270 Traffic 70 Procurement 182 Safety 102 Inventory control 131 Totals 11,894 Cost estimation of materials The materials for production were based on the proposed schedule of delivery and the fixed value provided to the bidders. The raw materials were estimated on a cost value of $200 that was for a period of 12 months. Table 2 show a summary of cost of materials as per deliveries. Table 2 Cost of materials Delivery units Costs 3000 units @$200 600,000 3000 units@$200 700,000 3500 units@$200 700,000 Totals 2,000,000 Overhead structure estimation The overhead structure estimation was based on planning phases of the project. The budget was structured for program management, engineering research and development, finance, and production(Gido Clements, 2014). Table 3 shows a summary of costs as per the quarter among the sections. Table 3 Overhead cost structure Sections Overheads per quarters 1st 2nd 3rd 4th Project management 730 234 145 340 Engineering research development 1040 4245 1240 350 Finance 1400 3465 5465 4590 Production - 603480 703450 704500 Totals 3170 611424 710,300 709780 Cost control Cost control involves the process of monitoring the status of the project to update the project costs and managing changes to the cost baseline the tools and techniques to be employed to ensure control is done is earned value management, forecasting and performance reviews(Kloppenborg, 2014). The output will be cost forecast, project document update and organizational process assets updates(PMI., 2013). The purpose of carrying out production control is to bring out expected to a level of acceptable limits. Project quality management plan The quality management plan represents how poly products industries well implemented quality policies. It is important to have a quality management plan because it defines how quality will be delivered during the production process. Success of poly products industries rubber components will depend on the quality of the products. The quality plan was developed based on the requirements of the project involving planning, deliverables, assurance and control of quality by the organizations. Project quality deliverables The quality deliverables to be achieved by the industry include: manufacture of rubber components according to specifications supplied by the customer, flexibility of contractor in material selection and testing as per specifications, continuous procurement as per quality guidelines, and operating a quality control program acceptance to customer and contractor that in addition allows a process of escalation between the parties. Project quality plan Project quality plan involves using the right tools, techniques and methodology to ensure quality is achieved(Hedman, 2013). The poly product industry will be guided by the philosophy that the products to be produced are acceptable among the customers. To ensure quality deliverables planning need to be done and developed. In planning for quality the scope statement will provide guiding a tool(Heagney, 2016). It will contain the required details for technical and operating performance. In addition the scope statement provides acceptance criteria for the project that form the basis of project approvals(Kendrick, 2013). The second tool for quality planning is the work breakdown structure (WBS) which provides a tool for measuring quality. It identifies the several deliverables and work packages expected to be achieved by the project. The basis of proper planning is to reduce wastages, lower costs, increase satisfaction and increase profitability(Burke, 2013). The tool used for planning is the quality checklists. A project quality checklist provides a list of standards and requirements to be achieved(Bryde, Broquetas Volm , 2013). Table 4 shows the quality checklist for the project. Table 4 Project quality checklist Items deliverables Status Remarks Achieved Not achieved Evaluation of contractors and bid done as per specifications Materials inspected and tested for conformance Manufacture of rubber components as per specifications Continuous procurement as per specifications Project audits and checks on processes are done An escalation process between contractor and project staff is developed Quality assurance It is a process that ensures that quality requirements and control measurements are used(PMI., 2013). The poly product industries will use quality assurance to facilitate improvement in its quality processes. The industry will use quality metrics as part of the quality assurance management tools that specify schedules and products. The production is based on scheduled specifications metrics that was specifically used to provide answers for questions on what, when and how production will take place. Quality assurance example metrics for poly product industries are the schedules for overheads and units to be produced. Quality controls It is the process in which poly product industry will monitor and record outcomes to ensure that performance is done as per requirements and specifications by ensuring that recommendations is done for future changes. The purpose of quality control is to improve quality and eliminate unnecessary defects(Hedman, 2013). The tool and techniques employed by the industry is the work performance data that outlines variances for technical, schedule and actual cost performance. Table 5 shows the summary of work performance data templates as part of quality control templates. Table 5 work performance data Metrics Planned performance Actual performance Remarks Technical performance: Involves specific resources utilized or consumed Schedule activities: involves specific work packages/activities allocated time Cost performance: it involves specific cost estimates and budgets for materials and overheads References Bryde, Broquetas Volm . (2013). The project benefits of building information modelling. International Journal of project management, 31(7), 971-980. Burke, R. (2013). Project management: planning and control tecniques. New Jersey: Wiley publishers. Gido Clements. (2014). Successful project management. Chicago: Nelson Education. Heagney, J. (2016). Fundamentals of project management. AMACOM: American management association . Hedman, K. (2013). Project management professional exam study guide. Indianapolis: Wiley. Kendrick, T. (2013). The project management tool kit: 100 tips and techniques for getting the job done right. . AMACOM Div: American management Assn. Kloppenborg, T. (2014). Contemporary project management. London: Nelson Education. Larson, E. (2011). Project management: the managerial process. New York: Mc Graw Hill. Phillips, J. (2013). PMP, project management professional (certification study guides). New York: Mc Graw Hill. PMI. (2013). A guide to project management body of knowledge . Newtown Square: PA: PMI.

Benin Essays (450 words) - French West Africa, Communes Of Benin

Benin Benin, independent nation of W Africa, formerly called Dahomey. Once a French protectorate, it is a country of 40 ethnic tribal groups and a low-level economy. Land and Economy. Located in the bulge on the S side of W Africa, Benin is bordered by Nigeria, Toga, Berkina Faso, and Niger, with 75 mi (121km) on the Gulf of Guinea. The coast is hot and humid, and there are two rainy and two dry seasons; average annual rainfall is 32in (813mm). Benin has three plateaus, one fertile, another of bare rocks, and a third with streams flowing to the Volta and Niger rivers and including the Atakora range. The E section is a plain. Subsistence agriculture is the economic base. Palm products and cotton account for half of export revenues. People. The leading class in Benin is composed of male-line descendants of the Aja (Fons, or Dahomey) who had established the early kingdom. Trained for civil service by the French, they are the best educated; literacy is 25% among school-age children. In the N are the nomadic Fulani and the Somba tribe, hunters with no political organization; E are Baribas. 90% of the population is rural, and 65% practices animist religion. French is the common language. Government. Benin has been under military rule since 1970. The constitution of 1977 instituted a national assembly, whose members belong to the sole legal political party, the Benin People's Revolutionary Party. History. Benin's history dates back to three principalities--Allada, Porto-Novo, and Dahomey--in the S area who were being pushed by the N Kingdom of Abomey in the 16th century. Dahomey was the most aggressive, pushing N and selling slaves. In 1863 the king of Porto-Novo sought French protection. By 1892 France had subjugated all groups and made them protectorates as part of French West Africa. In 1960 the country became independent as Dahomey. The official name was changed to Benin in 1976. Economic and regional rivalries have caused numerous military coup d'?tats and changes of government since 1960. The Marxist-Leninist military government in power since 1972, led by Brig. Gen. Mathieu Kerekou, relaxed its authority somewhat during the late 1970s and improved relations with France. Benin became the center of an international environmental controversy in 1988 when it became known that European nations planned to dump toxic wastes there. PROFILE Official name: People's Republic of Benin Area: 43,483sq mi (112,621sq km) Population: 4,663,832 Density: 107.3per sq mi (41.4per sq km) Chief cities: Porto-Novo (capital); Cotonou Government: Military Religion: Animist, Christian, and Moslem (Muslim) Language: French(official) Monetary unit: CFA franc Gross domestic product: $1,400,000,000 Per capita income: $340 Industries: food processing, including beer, palm oil Agriculture: peanuts, cotton, coffee, tobacco Minerals: petroleum Trading partners: France (major), other members of European Common Market, franc zone countries

Analysis of the Allemande from the English Suite No 3 in G minor.(J.S Bach) essays

Analysis of the Allemande from the English Suite No 3 in G minor.(J.S Bach) essays According to Phillip Spitta the English Suites must be regarded as Bachs most deliberate and developed excursions in the suite form. J. Matheson says that they give the picture of a contented and satisfied mind delighting in order and repose In these Bach combines elements of the French tradition with the south German suite type which Johann Jacob Froberger had originated. He also assimilates some Italian influences. His ability though, to give varied forms to pieces of the same species makes the Suites easily recognizable as his own works. Generally in the Suites, the allemande prepares the way for the courante and they both form a whole. The allemande in Suite No 3 is a fine example of the grace and emotionally versatility that Bach can show on the keyboard. It consists of two sections, equal as to length, of twelve bars each. With a first look we can see that the harmonies are broad and both parts have various figures. The piece begins commonly with a short note, a semiquaver before the first bar and it is followed by an arpeggiation of the tonic chord in the left hand. We have two part texture with semiquavers against semiquavers that share the melodic sequence until bar 3. The harmony is mostly straightforward but interesting if we accept the second chord with the F sharp in the bass as a VII leading to a V7 in the next beat. The second bar continues with an arpeggiation of chord i as the passing bass sequence sets up a V chord in the third beat and resolves back to the tonic in the beginning of bar 3. Up to here the harmony seems fairly simple and we can not really see any specific mood being portrayed. In bar 3 though, a clear sequence begins in the bass and a series of arpeggiated chords lead to a first modulation in bar 6.! Already, the F natural in the start of the bar produces a richer feeling for the melody. The sequence, that starts with the tonic, descents gradually to VII, then to v and climbs...

The acceptance of Genetic Therapy in the American society Essay

The acceptance of Genetic Therapy in the American society - Essay Example The manipulations of the creative chemical of life, DNA, inspires both wonder and fear in the human heart and mind and has created countless controversies in its application to combat disease. Genetic therapy is the alteration, removal, or insertion of genes in order to treat an illness. This definition is taken from the Washington Times article by, Marilynn, Marchione. This method uses a technique discovered by researchers to find and then correct the defective genes that are cause of the disease. This scientific marvel raised many questions, both in the scientific community and the public, each having various interpretations and viewpoints on the subject of genetic therapy. Some people depend on these experiments to improve their lives while others deem scientists as playing God. On the other hand some can see both side of the spectrum. Introduction (Positive) Those people suffering from a disease most often will have a positive and optimistic outlook regarding the promising resear ch involving genetic therapy. Curing a life threatening disease like AIDS, or repairing vision loss that severely impacts your quality of life can bring about an new and hopeful world for those who are suffering. This would be a world where one would not have to worry about suffering or even their longevity; they could just live carefree. This may seem like a pipe- dream, but the good news is that every day we are coming close to making it a reality. This remarkable new therapy was brought to light from and the case of an AIDS patient who seemed to recover from the disease after receiving a blood transfusion from a donor, who apparently had a natural immunity to HIV. Therefore it was theorized that the donor cells combated the virus. Regarding article reporting this same case, during a Boston conference Dr. John Zaia, was quoted after the announcement of their scientific breakthrough saying. â€Å"For the first time, people are beginning to think about a cure†. This was uplif ting news for the entire world because many people had died from AIDS. Thinking that a virus that killed millions can one day be treated as if it were a common cold truly shows the advancement and growth science and medicine This article further states, â€Å"Scientist used genetic engineering in six patients to develop blood cells that are resistant to HIV.† However, even though the gene therapy has shown very promising results, one must not celebrate too soon as this research is still in experimental stages, and it is still far too early to declare this method as an absolute cure. Gene therapy offers various possilbe benefits, and discovering a cure for HIV is perhaps only the beginning. For the first time in history researchers are using this new therapy to improve the vision in patients who were almost blind. According to The Seattle Times writer, Thomas H. Maugh, â€Å"this discovery brings hope to thousands with inherited forms of vision impairment in the field of reti nal dystrophies.† Previously, cataract surgery along with medication and corrective lenses were used to cure vision impairment. Additionally, doctors have not been able to restore vision due to hereditary degenerative disease to restore their patients sight. Now with the use of gene therapy scientists are able to take these defective genes and replace them with strong healthy ones in order to cure an ailment. Similar to the Aids case article previously mentioned an

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Factors that Influence Buyer Decision for Property

Factors that Influence Buyer Decision for Property CHAPTER 1: INTRODUCTION 1.0 Introduction of Study Nowadays, the demands for houses increase every year. In Malaysia, housing demands include all sorts of houses which are low cost houses, medium cost houses and also high cost houses. All the demands for the houses come from all kind of income groups based on their income. The supply of the houses sometimes over than demands that makes the houses abundant. More challenges of competitive market in these decades because the developers entering the housing market increasing. At the same time, the local and national economic makes the developers to aware and pay attention to the buyers for their needs, satisfaction and preferences. When the developers meet the buyers needs, satisfaction and preferences in delivering the product, this will avoid in abundant of the property. The thesis is about the findings of the research that determines the factors that influence the buyers towards buying the residential property. The buyers that involved in this thesis are chosen from the people that attend new launched project and also the buyer that already bought a house. The findings also come from the observation of the study area and also the market. All the factors that influence buyers in decision-making will be defined and the preferences and satisfaction of the buyers also taking into account. The outcome of this study will help to increase the quality of the property towards the development of new residential property in the market. 1.1 Background of Study The study covers the buyers and also the residential property in Kuching, Sarawak. The demand for houses increased in Kuching caused by the increment of the population in this town. The study can also be the guide towards preparing the residential property based on the preferences and the satisfaction of the buyers. If the residential property build based on the preferences and satisfaction of the buyer, the market will be active and the supply of the houses will meet the requirements of the buyers through this study. The factors that maybe included that influence the buyers in decision making are design, location, developers reputation, facilities within neighborhood, safety and security and the price. The factors that influence the buyer in decision making toward the residential property of each respective buyer is different, so through this study, the factors can be defined. 1.3 Problem Statement This dissertation is to know what are the factors that influence buyer in decision-making for residential property. It is to assure that the preferences and satisfaction of the buyers could be determined. 1.4 Objectives There are two main objectives for this research. They are as follows: To define the factors that influence buyers in decision making for residential property To measure the level of importance of factors that influence buyers in decision-making process. 1.5 Scope of Study The scope of this study is mainly in Kuching which is located in Sarawak. The study will focus on residential property in Kuching Sarawak. The residential properties which are the landed property that involve in this study include the medium cost housing and high cost housing. The landed property that being focused are single storey terrace house, double storey terrace house, single storey semi-detached house, double storey semi-detached house, single storey detached house and double storey detached house. It also concentrated on the buyers in three groups of age between 25 years old to 30 years old, 30 years old to 35 years old and 35 years and above. The three groups are chosen because of the age of 25 years to 30 years is the best age to own the house and the age of 35years and above is the age which they must own the house for living. Besides that, this study also focuses on the group of income in order to determine the level of affordability in buying the property. In this study, the residential property that involves is medium cost housing and high cost housing. So, the income group should be determined. 1.6 Significance of Study The significance of this study is to know the factors that influence the buyers in decision making of residential property in order to make sure that the supply of the property will fulfill the requirement of the buyers in buying the property. It also important to know the preferences of the buyers so that no housing units in the area would be abundant caused by not fulfill their satisfaction. In addition, this study also can be the guidelines and also preparation for the developers in order to build and supply the property to the market and at the same time, the government can take action to avoid the housing development from being abundant. The factors that influence buyers in decision making are also important because it can help to determine the design, the location, the price and also the facilities that needed in the development. 1.7 Methodology of Study In this study, two methods used in order to find the information to lead through the completion of this thesis. The methods are divided into two which is primary data and secondary data. For primary data, the method is by distributing the questionnaires. In distributing the questionnaires, the person to answer the survey are the new buyers, the recent residents and also the visitors at the new launched project and housing exhibition. For secondary data, the method are by manual which come from reading the reference books, journals, papers and also the magazines , by statistics data which can be look at the Department of Statistics of Jabatan Perangkaan Malaysia and Economic Planning Unit and also the data collection from online through websites related to the topic and also the research papers. Through reading, much information can be gathered together for a good and successful outcome in this study. All the materials to be read will be find at main library of Universiti Malaya, library Faculty of Built Environment, National Library, Pustaka Negeri Sarawak and also Perpustakaan Sultanah Zanariah Universiti Teknologi Malaysia. 1.8 Organization of Study CHAPTER 1 Introduction In chapter 1, the introduction includes the background of the study that will be discussed in this thesis. It also shows the problem statement that also can be the hypothesis of this study. The objectives of this study also include in this chapter. Besides that, the introduction also discussed the scope of the study, the significance of study and also the methodology of the study. CHAPTER 2 Literature Review Literature review consists of the strategy of the thesis in order to gain and gather the data of information that are needed in this study. All the data from the articles in the property magazines and books, the journals related to the housing demands and property buyers, the research papers about the related topics, books that include all the information about buying a property and also residential property, magazines that shows the factors influence the buyers in decision making of residential property. CHAPTER 3 Overview the Study Area For this chapter, the overview of the study area will consists of the socio-economy in Kuching which is the location of this study. The socio-economy depends on the population of people in Kuching, the household income, the group of age, the changes in physical environment and others socioeconomic issues. CHAPTER 4 Research Analysis and Findings The research analysis is the analysis of this study from all the information and data that gathered together in order to get the outcome. All the analysis and the findings from this study determines into graphs, charts, tables and also pictures to make this study clear. CHAPTER 5 Research Outcomes and Conclusion In this chapter, all the finding and research analysis will be summarized and the conclusion of this study will be presented. Either than that, the implication of this study are also discussed and the availability of the problem statement whether it can be used or not. CHAPTER 2: LITERATURE REVIEW CHAPTER 2 LITERATURE REVIEW 2.1 Introduction In decision making for residential property, there are several factors that influence the buyers. The factors are divided into categories. The categories are buyers taste and preferences, demographic factors, economic factors and marketing strategy. This thesis will focus on residential property which is the landed property. The landed property consists of property for high income group and middle income group which are terrace house, semi-detached house and detached house. The property categorized according to the supply and demand in the market and also the prices. The location for this housing study will focus in Kuching, Sarawak that have a large population due to Sarawak, the biggest state in Malaysia which have the multiracial including Malay, Chinese, Indian and others. The reason to have this location as the case study is because of the big location with multiracial and can explore the demand and the preferences of the consumers in buying the residential property. 2.2 Definition 2.2.1 Decision- Making Decision-making is an outcome of mental processes. Every decision making process produces a finalchoice wherebythe output can be an action or an opinion of choice which is a continuous process integrated in the interaction with the environment concerned with the logic of decision making and rationality with the invariant choice. Decision making made by the buyer, depends on individuals need, preferences, satisfaction and also their requirement in order to choose the perfect and right choice in buying the property. The decision making influence by various factors. In this study, the objective is to determine the factors that influence buyers in decision making of residential properties. The decision making of every people related to the factors and the way of the people think in order to fulfill the need and satisfaction through the requirement of the property. 2.2.2 Consumer (Buyer) The product which is goods and services that consumes by a person and has the ability to choose between the different suppliers and products. In the other hand, consumer or buyer is a party that requires or agrees to own, acquire and have the benefit in usage for the services that in exchange for money or other consideration under a contract or agreement of sale. The consumer or buyer in this study just focuses on high group income and middle group income. It is because to look towards the choices or need of this income group in their decision making for buying residential property. For lower income group, it just only lead to the affordability in their decision making, so they are not chosen as the respondent in context of buyer for this study. 2.2.3 Consumer Behavior ‘Consumer behavior examines not only consumers action, but also the reasons for those behaviors. On a macro level, marketers are interested in demographic shifts as well as societys values, beliefs and practices that affect how consumers interact with the marketplace. Thus, concepts are drawn from sociology and psychology figure prominently in the study of consumer behavior. (Karen M Gibler and Susan L Nelson, 2003, p.63-64) Consumer behavior is the study of how people behave when obtaining, using, and disposing of products and services or when, why, how, where and what people do or do not to buyproducts.It mixes ofpsychology, social,personal andcultural. It is attempting to understand the buyer decision-making process for both, individually and in groups. The characteristic of individual consumers such asdemographicsand behavioral variables which is in an attempt to understand peoples wants. It also assesses influences on theconsumerfrom groups such as family, friends, reference groups, and society in general. Customer behavior study is based on consumer buying behavior, with the customer playing the three distinct roles of user, payer and buyer. The relationship marketing is being the influential of asset for customer behavior analysis as it become a keen interest in the rediscovery of the true meaning of marketing through the re-affirmation of the importance to the customer or buyer. A greater importance is also placed on consumer retention, customer relationship management, personalization, customization and one-to-one marketing. Social functions can be categorized into social choice and welfare functions. Consumer behavior also can be define as the process and activities which the people engage in when searching for, selecting, purchasing, using, evaluating, and disposing of products and services to satisfy their needs and desires. For cultural, the people will act based on the cultural that usually be the influence in certain places and surrounding. For social, the people will think and act more to socially action that also can be positive and negative. In physiological aspect, it is more to thinking and the personal behavior leads to the decision making. People maybe influence by the way they thinking of. 2.2.4 Marketing Definition of marketing by Institute of Marketing is the management function which organizes and directs all those business activities involved in assessing and converting customer purchasing power into effective demand for a specific production or service to the final customer or user so as to achieve the profit target or other objective set by the company. ‘Marketing is a combination of marketing concept of marketing concept, marketing function and the operational implementation of these functions in the context of the concept. The marketing concept can be most simply explained as a belief that the organization can function in the best interests of its customer and its self where a balance is achieved between the need of both of these parties. (Trustrum, LeslieBernard,1989, p.48). Marketing plan is the marketing strategy by the developer to sell their property to the people so that people will attract to buy the property from them. The advantages of marketing strategy will diverse marketing activities that can be better co-ordinate and can avoid or reduce to a minimum crisis management such as unsold unit and etc. The basis of marketing strategy is 4Ps consist of Product, Price, Place and Promotion. 2.2.5 Developer The coordinators of the activities that converting ideas on the paper to the reality by building the realproperty that encompassing activities range from therenovationand re-leaseof existingbuildings to the purchase of rawlandand the sale of improved parcels to others. Developers usually take the greatestriskin the creation or renovation of real estate and receive the greatest rewards such as the money and also acknowledgement from the purchaser or respective buyer that satisfy with their product. Usually, developers purchase a tract of land then determine themarketing of the property. After that, they developing the building program and design, obtaining the necessary public approval and financing, building the structure, leasing, managing, and ultimately selling the property. Developers work with many different counterparts along each step of this process including the architects, planners, engineers, surveyors, inspectors, contractors, property agents and etc. The developers build the house to supply to the market and sell to the buyer based on the demand in the market. The demand depends on the needs of the consumer, the market trend and also the economic trends. 2.2.6 Residential Residential property is the property in the residential area that includes the single family housing, multi-family residential or mobile house. The residential property is under the zoning of residential and may permit high density land use or low density land use. Residential development is real estate development for the purpose of residential. The developments are when the land divided into lots with the house constructed on each piece of subdivided land. 2.2.6.1 Medium Cost Housing Medium cost housing is the property that sell in the median price that can be purchase by medium income group and high income group. The medium cost housing in this research is the single storey terrace house, double storey terrace house, single storey semi-detached house and double storey semi-detached house. 2.2.6.2 High Cost Housing High cost housing is the property that the price is high and usually for the high income group of people. The high cost housing is selling with the high price that the price influences by the material, the design, the location and the size or area. The people that usually buy the high cost property is the people that need the high satisfaction and also all about luxury. The high cost housing could be the detached house and also high end property. In this research, the high cost housing is the single storey detached house and double storey detached house. 2.3 Factors Factors divided into four categories which are demographics factor, economics factor, buyers taste and preferences and marketing strategy. The factors distribute in the categories so that it is easy to determine what, how, when and etc. In addition, the factors that influence buyers in decision of residential property can be determining by distributed the factors as above. For demographics factor, it includes the age, social class and race or ethnicity. Age of the buyer also important that may influence them in decision making because it may show that what type of residential property they want that can give them satisfaction or needs for the requirement of the property. For social class in this study, it consists of high income group and middle income group because it is easy to know what they want to consider before buying the property not only based on their financial. The low income group is not included in this study because of the affordability of them to buy the type of property which is just the low cost housing. Race or ethnicity is one of the demographics factor because it also could influence the buyer whether to live in a same location with it own ethnic or race or just mixed with other races and ethnic. For economics factor, it consists of prices, availability of finance and affordability. Prices of the property depends on the type of property, location of the property, the supply and demand of property and also the market trends of current situation. The availability of finance may depend on either the government loan or private institutions loan such as bank and etc. The finance also depends on the availability of the bank in releasing the amount of loan and based on the income of buyer. Affordability is the main thing to discuss whereby every people have their own level of affordability. Marketing strategy is also one of the factors in decision making. Marketing strategy has four basis which are price, promotion, place and product. The price can me the measurement to know what is the price that agreed and affordable for the buyer based on the type of property, location and also the market price. The promotions in this marketing strategy consist of the launching of the project and the exhibition also important which is good in order to promote the property to the prospective buyer. Such promotion can attract more buyers and give the buyer opportunities to ask about the property and also giving the good image of developer and the product itself. Place is the location where is the property located and it seems very important because in every location, it have its own density and population. Some of the buyer wants the location either the high density or low density of population and some of the buyer wants to buy the property located in the city centre or otherwise. For the product, it depends on whether it is high class property or medium class property for high income group and middle income group. Depending on the class of property, the marketing strategy should be based on the focus group that will buy the property. So, the developer has the main role in the development to plan a good marketing strategy in order to have the successful project by selling 100% of the units. Buyers taste and preferences is the buyer needs and satisfaction in order to fulfill their taste and comfortless. The buyer needs and satisfaction is different. According to Abraham Maslow (1954), safety is one of the needs of human. The safety includes the security of family, health and property. So, the people needs the property for secure and health whereby every human being need shelter to lives. For satisfaction, it is more towards the luxury, taste and comfort that will be different depending on the person. Preferencesis a concept that have been used in thesocial sciences, particularly economics that assumes a real or imagined choice between alternatives and the possibility of rank ordering of these alternatives, based onhappiness, satisfaction,gratification, enjoyment and theutilitythey provide. More generally, it can be seen as a source ofmotivation. In cognitive sciences, individual preferences enable choice of objectives or goals. 2.4 Factors Might Be Influence the Buyer From the factors above, the factors might be influence the buyer in decision making for the residential property are the design, location, developers reputation, facilities within neighborhood, safety and security and the price. The residential property has several of design nowadays such as contemporary design, modern design or traditional design. All the design chooses by the buyers to buy the residential property. So, the design might be one of the factors that influence buyer in decision-making. The location also might be the factors that influence the buyer in decision making. The location might be choose by the buyer are in the city centre, near the city centre and out of the city. The location that the buyer wants to live is the factors might be influence them in decision making. The developers reputation might be the factor that influences buyers because it is all about quality and confidence to the buyer to buy the house. The reputation of the developer could show the quality of the house and build the confidence to the buyer in buying the property from them. The safety and security in residential area is important because nowadays the criminal cases highly increased and made people more aware about the security for the safety living. The people trust that if in the area have a good security and safety, it would be safe for living and it might be one of the factor that influence buyer. The price is based on the design, location and also the market trends. The price that is reasonable based on the area or size, design; location would be the factors that influence buyer in decision-making. So, the factors might be influence the buyer will be determined in the questionnaire and the level of interest would be defined. 2.5 Buyers Decision- Making Process Buyers decision vary an importance and complexity, thus, it is important to classify them to be understand the characteristics, the products, the marketing strategy implications on each type of purchase behavior. 2.7 Theory of Needs Maslows theory of needs Figure 2.5: Maslows Theory of Needs The safety level includes the security of the body, employment, resources, morality, the family, health and property. In this research, the important part of the safety is the shelter whereby its a need for the family to live with comfortable and healthy living in a property. So the buyers have the right in the need for a property that they want to buy and before make the decision, they need to know what is the factors that influence them in buying the property. 2.8 Conclusion For this literature review, the discussion more on the definition of decision making, consumer, developer, the marketing and also factors that lead to the factors that influence buyers in decision-making. All the category of factors based on the buyer itself and also the market trends that supply the property. The developer also have to take note that not only the demand of buyer need to be fulfill but also the economic and demographic factors must taking into account. In conclusion, the factors that influence buyers in decision making of residential property for this case of study and also the level of interest of those factors can be determine by the research. CHAPTER 3: OVERVIEW OF THE STUDY AREA CHAPTER 3 OVERVIEW OF THE STUDY AREA 3.0 Introduction This chapter attempts to give an overview of the study in Kuching. The issues to be discussed in this chapter are information related to socioeconomic in Kuching. 3.1 Background of Study Area Sarawak is one of the state on the island of Borneo which also known as ‘Land of the Hornbills. It is situated on the north-west of the island and it is the largest state among all in Malaysia. It is the capital of Sarawak as it is the largest city on the island of Borneo and also the fourth largest city in Malaysia. Sarawak divided into eleven administrative divisions which are Kuching Division, Samarahan Division, Sri Aman Division, Betong Division, Sarikei Division, Sibu Division, Mukah Division, Kapit Division, Bintulu Division, Miri Division and Limbang Division. Each division divided into districts which are 33 districts in Sarawak. In Kuching Division, there are District Of Kuching, Lundu and Bau. The study area of this research is District of Kuching in Kuching Division. The district covers an area of 1, 863 square kilometres with the population approximately 620 700. The district of Kuching is administered and divided into three local governments which are Kuching North City Hall, Kuching South City Council and Padawan Municipal Council. The part under Kuching North City Hall covering an area of 369.48 square kilometers which is the area north of te Sarawak River, parts of Old Kuching and also the western Central Business District. Meanwhile, the area south of the Sarawak River, eastern Central Business District and towards the South China Sea is within Kuching South City Council jurisdiction. The rural areas within Kuching District, Batu Kawa, Kota Sentosa and Third Miles are under the jurisdiction of Padawan Municipal Council. District Jurisdiction Land Area (square kilometers) Kuching Kuching North City Hall 369.48 Kuching South City Council 61.53 Padawan Municipal Council 1431.83 Total 1862.84 Table 3.1: Total Area of Kuching District For further information about the location of Kuching, please refer to the Appendix I. 3.2 Population Sarawak has the population of about 579, 900 in years 2006.From this survey, it shows that Kuching District has a great housing market which the potential buyers are from the category of 25 years old and above. According to the population census 2006 published by Department of Statistic, Malaysia, the population of Kuching District is as the following:- Jurisdiction Total Kuching North City Hall 133, 600 Kuching South City Council 143, 500 Padawan Municipal Council 302, 800 Total 579,900 Table 3.2: Population Census 2006 in Kuching District (Sources: Population Distribution by Local Authority Areas and Mukims, Census 2006, Department of Statistics Malaysia.) 3.2.1 Projected Population by Ethnic Group (Sources: Population Distribution by Local Authority Areas and Mukims, Census 2006, Department of Statistics Malaysia) The majority projected population by ethnic in Kuching District within Kuching Division is Chinese, which is 38% of the whole population and about 220, 400 people. The second ethnic is Malays, 36% and follow by other ethnic groups 16% and Iban 10 %. The projected population by ethnic group and jurisdiction in Kuching for year 2009 is shown in the Table 3.3. The total population from the table has shown that majority of residents in Kuching District live under Padawan Municipal Council jurisdiction. Population under Kuching North City Hall is lesser than other jurisdiction although the land area is bigeer in size than Kuching South City Council. Jurisdiction Total Malay Chinese Iban Other Ethnic group Kuching North City Hall 133, 600 80, 160 26, 720 10, 040 16, 680 Kuching South City Council 143, 500 40, 805 68, 800 21, 060 12, 835 Padawan Municipal Council 302, 800 87, 799 124, 842 26, 890 63, 269 Note: 1. Population projection based on the 2006 Population Census 2. The added total may differ due to rounding (Sources: Population Distribution by Local Authority Areas and Mukims, Census 2006, Department of Statistics Malaysia) 3.2.2 Projected Population by Age Group Age Group Kuching North City Hall Total 579, 900 0-4 80,500 5-9 60,800 10-14 52,200 15-19 54, 900 20-24 49, 300 25-29 49, 300 30-34 43, 500 35-39 37, 400 40-44 30, 700 45-49 29, 600 50-54 25, 300 55-59 20, 800 60-64 16, 900 65-69 14, 500

The Surprising Moby Dick :: Moby Dick Essays

The Surprising Moby Dick      Ã‚  Ã‚  Ã‚  Ã‚   Moby Dick was not the novel I expected.   I was under the impression that it would be about seafaring and the whale Moby Dick.   Instead, Moby Dick is a story about Captain Ahab's obsession.   There is very little in the story about the revenge itself, just about Ahab's monomania.   Out of 465 pages, only forty-two of them deal with the actual battle between Ahab and Moby Dick.      Ã‚  Ã‚  Ã‚  Ã‚     The novel places very little emphasis on actual seafaring. Ishmael never even steps on a boat until page seventy-four.   Even when the ship finally leaves port, the mention of anything involving sailing or the life of sailors is kept to an absolute minimum.      Ã‚  Ã‚  Ã‚  Ã‚   There is, however, plenty of emphasis is on whaling, the anatomy of whales, and their behavior.   The book goes into great detail describing the whalers of Nantucket, and gives in-depth explanations of the different types of whales, quoting several outside sources in the process.   The narrator mentions the awesome size of the sperm whale, and how few books even try to describe it.   He also shows great respect for people who go whaling, and describes the camaraderie that forms between them.   This is an annoying inconsistency in the novel, since Ishmael (the narrator) tells the reader that he has never been on a whaling ship before, and has never seen a live whale.      Ã‚  Ã‚  Ã‚  Ã‚   The first twenty-three chapters focus on Ishmael's thoughts and actions.   He introduces the reader to whaling and describes the Pequod. After the ship sets sail, he seems to vanish from the story. At certain intervals, however, he plays minor roles, and it is Ishmael that survives to tell the story.      Ã‚  Ã‚  Ã‚  Ã‚   From chapter twenty-four onward, the novel is almost completely about Ahab hunting for Moby Dick.   He has the blacksmith construct a special harpoon, made from the finest iron, and soaked in the blood of the three harpooners.   The forging of the harpoon is somewhat ironic, since the rope attached to that same harpoon is what drags Ahab to the bottom of the sea.      Ã‚  Ã‚  Ã‚  Ã‚   Despite Ahab's apparent madness, he still seemed able to reason clearly.   He carefully and methodically located the region of the sea that

Performance Appraisal of Al-Arafah Islami Bank Limited

1. 0 Introduction Every company has its own vision and mission. Achieving of its vision and mission is primarily depends on the performance of the employees. If the employees are not dedicated to their works, they will not achieve company’s mission as well as its vision. It is the duty of the Human Resource department in a company to measure the performance of the employees and based on their performance appraisal report and considering the need of the organization assigning employees with different training and development programs so that the employees can develop their skills as well as contribute in the development of the organization.As a result, the organization can achieve its goal from their employees. This performance appraisal and training program has great impact on financial institution to achieve its targeted profit and competitive advantage. As a part of our BBA Program, our Human Resource Management Course Instructor Mr. Faisol Chowdhury assigned us to prepare a report on the employee performance measurement in an organization, the training and development program offered in an organization and the benefit the organization gets from these training and development programs.We have selected our report topic as, â€Å"Performance appraisal, training and development programs and its benefits in AL-Arafah Islami Bank LTD†. 1. 2 Background of the Company: Al-Arafah Islami Bank Limited is a scheduled commercial bank. With the objective of achieving success here & hereafter by pursuing the way directed by Allah and the path shown by His Rasul (SM), Al Arafah Islami Bank Ltd was established under the Bank Companies Act 1991 and incorporated as a public limited company under the Companies Act 1994 in Bangladesh with the primary objective to carry on all kinds of banking business in Bangladesh.The Bank is listed with Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited in 1998. For the purpose of maintaining boost modern manageme nt, advanced technology, good profitability and steady growth transparency Al-Arafah Islami Bank started its journey in 1995 with the said principles in mind and to introduce a modern banking system based on Al-Quran and Sunnah. A group of established, dedicated and pious personalities of Bangladesh are the architects and directors of the Bank. Among them a noted Islamic scholar, economist, writer and ex-bureau craft of Bangladesh government Mr.A. Z. M. Shamsul Alam is the founder Chairman of the bank. His progressive leadership and continuous inspiration provided a boost for the bank in getting a foothold in the financial market of Bangladesh. A group of 26 dedicated and noted Islamic personalities of Bangladesh are the member of executive committee of the bank. MR. Badiur Rahman and MR. Ekramul Hoque are the existing chairman and the managing director of the bank. Now AIBL is one of the top ranked banks in Bangladesh. Recently it has introduced its 100th branch milestone by openin g its 100th branch in Teknaf, Cox’s Bazar. AIBL annual Report, 2011) Vision: †¢ To be a pioneer in Islamic Banking in Bangladesh and contribute significantly to the growth of the national economy. Mission: †¢ Achieving the satisfaction of Almighty Allah both here & hereafter. †¢ Proliferation of Shariah Based Banking Practices. †¢ Fast and efficient customer service. †¢ Quality financial services adopting the latest technology. †¢ Maintaining high standard of business ethics and competitive return on shareholders' equity. †¢ Firm commitment to the growth of national economy. †¢ Innovative banking at a competitive price. Attract and retain quality human resources. †¢ Balance growth. 1. 3 Objective of this report: We have prepared this repost based on two purposes: Primary Objective †¢ To provide detailed information about the performance appraisal process of AL-Arafah Islami Bank LTD †¢ To provide detailed information on t raining and development †¢ To figure out the benefits of the training and development program Secondary Objectives †¢ It is an assessment criteria for our MGT-351 (Introduction to Human Resource Management Course) †¢ It is a practical implementation of our theoretical knowledge 1. 4 Scope of the StudyAs we have an assigned topic we have covered only that certain topics in this report. For covering that certain topics we talked to the Human Resource Division head and the training institute principal of AL-Arafah Islami Bank LTD. As a result we got some valuable information about the performance appraisal method of bank and their training programs which helped us to justify our theoretical concept of performance appraisal, training method and its real life benefit. As AIBL is a Shariah based Islamic bank we have also gathered some valuable information about Islamic banking system. 1. Methodology For making any report we have to collect primary and secondary information which reflect the actual situation of the company. We have collected both primary and secondary data for making our report. I. Primary data: The data we have collected from Mr. Md. Rafiqul Islam, Deputy Managing Director of AIBL, Mr. Mazharul Islam, Vice President & the Head of HRD, AIBL, Mr. Zahid Hasan, Assistant Vice President & Principal of the AIBTRA through interview are considering as primary data. II. Secondary data: The data we have collected from their AIBL website (http://www. al-arafahbank. om), Annual Report, periodicals, various books, articles etc regarding banking activities, different literature and official records ) are considered as secondary data. 2. 0 Literature Review 2. 1. 0 Performance Appraisal: What is Performance Appraisal? Performance Appraisal (PA) means evaluating an employee’s current and previous performance relative to his or her performance standards. (Dessler & Varkkey 2012, p. 318) Performance = f (A, M, O) A = ability, M = motivation, O = opportunity It is not a process that happens once a year or every six months, but one that happens every day.It should focus solely on employee performance improvement. It is an element of the Performance Management system. Performance appraisal always involves 1) Setting work standard 2) Assessing employees actual performance relative to those standard 3) Providing feedback to their employee with the aim of motivating him or her to eliminate performance deficiencies Potential Benefits of Performance Appraisals There are a number of potential benefits of organizational performance management conducting formal performance appraisals (PAs).There has been a general consensus in the belief that PAs lead to positive implications of organizations. Furthermore, PAs can benefit an organization’s effectiveness. One way is PAs can often lead to giving individual workers feedback about their job performance. From this may spawn several potential benefits such as the individual workers becoming more productive. Other potential benefits include: †¢ Facilitation of communication: communication in organizations is considered an essential function of worker motivation. It has been proposed that feedback from PAs aid in minimizing employees’ perceptions of uncertainty.Fundamentally, feedback and management-employee communication can serve as a guide in job performance. †¢ Enhancement of employee focus through promoting trust: Behaviours, thoughts, and/or issues may distract employees from their work, and trust issues may be among these distracting factors. Such factors that consume psychological energy can lower job performance and cause workers to lose sight of organizational goals. Properly constructed and utilized PAs have the ability to lower distracting factors and encourage trust within the organization. Goal setting and desired performance reinforcement: Organizations find it efficient to match individual worker’s goals and performance wi th organizational goals. PAs provide room for discussion in the collaboration of these individual and organizational goals. Collaboration can also be advantageous by resulting in employee acceptance and satisfaction of appraisal results. †¢ Performance improvement: Well-constructed PAs can be valuable tools for communication with employees as pertaining to how their job performance stands with organizational expectations. At the organizational level, numerous studies have reported positive relationships between human resource management (HRM) practices† and performance improvement at both the individual and organizational levels. †¢ Determination of training needs: â€Å"Employee training and development are crucial components in helping an organization achieve strategic initiatives†. It has been argued that for PAs to truly be effective, post-appraisal opportunities for training and development in problem areas, as determined by the appraisal, must be offered . PAs can especially be instrumental for identifying training needs of new employees.Finally, PAs can help in the establishment and supervision of employees’ career goals. 2. 1. 1 Performance Appraisal Methods: Many organisations have eliminated formal appraisal programs, preferring a structured hiring, training and organisational culture centric employee performance. Most organisations still practice some sort of appraisal methods to evaluate employee performance. A mixture of different appraisal methods is always recommended for a better and meaningful result. (Dessler & Varkkey 2012, p. 324) GRAPHIC RATING SCALE: The graphical rating scale is the simplest and most popular method for appraising performance.A graphical rating scale list traits (such as â€Å"communication or teamwork†) and a range of performance values (from â€Å"uncertainty† to â€Å"outstanding† or â€Å"below expectation† to â€Å"role model†) for each trait. The superv isor rates each subordinate by circling or checking the score that best describes the subordinate’s performance for each trait. [pic] Alternation ranking Method: Ranking employees from best to worst on a particular trait, choosing highest, then lowest until all are ranked [pic] Paired Comparison method: Paired comparison method helps to make the ranking method more precise.For every trait (quantity of work, quality of work, and so on), you pair and compare every subordinate with every other subordinate. Forced Distribution Method: The forced distribution method is similar to grading on a curve. With this method, anyone can place predetermined percentages of rates into several performance categories. The proportions in each category need not to be symmetrical. Critical Incident method: Keeping a record of uncommonly good or undesirable examples of an employee’s work related behaviour and reviewing it with the employee.Manager then uses the record to assess the employees ’ performance when it is time for PA. Not helpful for comparing employees and making salary decisions. Behaviourally Anchored Rating Scales (BARS): A behaviourally anchored rating scale (BARS) is an appraisal tool that anchors a numerical rating scale with specific examples of good or poor performance. Essay Description: A written statement describes employee’s strengths, weaknesses, past performance and future development. Managers write the descriptions of the employees. So, good writing skill is the pre-requisite for this method.Management by Objectives: MBO is a comprehensive and formal organization-wide goal setting and appraisal programme, used sometimes as a primary appraisal method or a supplementary method. Electronic Performance Monitoring: Electronic performance monitoring (EPM) systems use computer network technology to allow managers access to their employees computers and telephone. So managers can monitor employees rate, accuracy and time spent working o utline. 2. 1. 2 Performance Appraisal Problems (Dessler & Varkkey 2012, p. 333) †¢ Unclear Standard – Most of the appraisal scales are unclear.Standards and traits are interpreted differently by different people. †¢ Halo Effect – When a supervisor’s rating of a subordinate on one trait biases the rating of all other traits. E. g. an unfriendly employee will often be rated ‘unsatisfactory’ for all traits rather than just for that specific trait. †¢ Central Tendency – Tendency to rate all employees the same way – the middle of the rating scale; which is usually rating an average rating. †¢ Leniency or Strictness – Tendency to rate all subordinates either ‘high’ or ‘low’. Biasness – Tendency to rate employees based on their differences on age, race, sex, background and other characteristics. 2. 2. 0 Definition of training and development: Training means giving new or current empl oyees the skills they need to perform their jobs. It is the process of providing employees with the knowledge, skills and attitudes they need to successfully perform their current job. It usually involves teaching operational or technical employees how to do their jobs more effectively and efficiently. (Dessler & Varkkey 2012, p. 274)Development is the process that provides employees knowledge, skills and attitudes they will need to perform jobs at present and jobs they aspire to in future. It is generally aimed at helping top level executives better understand and solve problems, make decisions, and capitalize on opportunities. The cost and budget of development program is higher than training. (Dessler & Varkkey 2012, p. 295) 2. 2. 2 Training Programs There are several training programs- (Dessler & Varkkey 2012, p. 283) †¢ On the job training: It having a person learns a job by actually doing the tasks by him. Apprenticeship: It is a process by which people become skilled wor kers, usually through a combination of formal learning and long-term on the job training. †¢ Job instruction: listing each job’s basic tasks, along with key points, to provide step-by-step training for employees. Sometimes position description (PD) can be used as job instruction. †¢ Coaching: Under an official appointed teacher employee learn the basic tactics of the job. †¢ Mentoring: linking an experienced employee with less experienced employee to share experience, knowledge and skills. Helping someone to change his attitude, not his skills. Lectures/Seminar/Workshop: Lecture is a quick and simple way of providing knowledge to large groups of trainees. †¢ Audiovisual/Multimedia: Audiovisual based training techniques like DVDs, films, PowerPoint, and audiotapes are widely used. †¢ Vestibule: Vestibule training is a method in which trainers learn on the actual or simulated equipment they will use on the job, but are trained off the job(perhaps in a s eparate room or vestibule). †¢ Computer Based Training (CBT): With computer based training, trainers use interactive computer-based and DVD system to increase knowledge and skills. Role Play: Role playing is to create a realistic situation and then have the trainees assumes the part (or roles) specific person in that situation. †¢ Action Learning: Action learning programs give managers and others released time to work analyzing and solving problems in departments other than their own. †¢ Assessment centres (in-house / off the job) : centre that assesses participants performance, benchmark this against established standards, and consider remedial resources. E. g. Ernst & Young. Simulated training: provides trainees with the opportunity to learn on the actual or simulated equipment while off the job in a risk free environment. E. g. driving, medical examinations, pilots. †¢ E-learning: learning delivered, enabled and mediated by electronic technology. E. g. compute r / internet web based training sessions on cost effective, OH&S issues. †¢ Vestibule Training: training that takes place away from the production area on equipment that closely resembles the actual equipment used on the job. 2. 3. 0 Development methods (Dessler & Varkkey 2012, p. 296) There are several development methods-Job Rotation: Job rotation means moving managers from department to department to broaden their understanding of the business to test their abilities. Action Learning: Action learning programs give managers and others released time to work analyzing and solving problems in departments other than their own. Case study: giving employees a written description of an organisational problem to diagnose and solve. Management games: computerised management game where trainees are divided into five or six person companies, each of which has to compete with the other in a simulated marketplace.Outside seminars: attending seminars arranged by outside organisations. E. g . AHRI. University programs: continuous education programs in leadership, supervision etc. Role Play: Role playing is to create a realistic situation and then have the trainees assumes the part (or roles) specific person in that situation. In house Development centers/Corporate University: In house development center typically offer a catalogue of courses and programs aimed at supporting the employers’ management needs.Executive Coaches: Executive coaches is an outside consultant who questions the executive’s boss, peers, subordinates, and (sometimes) family in order to identify executive’s strengths and weakness and how they can capitalize their strength and overcome the weakness. 3. 1. 0 Performance Measurement in AL-Arafah Islami Bank LTD. AIBL has its own Human resource department. Personal data and the records of service and performance are recorded and maintained separately for each employee by HRD. HR executive and HRD head regularly measure their employe e’s performance.For measuring performance HRD of AIBL use APR (Annual Performance Report). Annual Performance Report (APR): (AIBL employee’s service rule p. 27) A system of annual report on the work and conduct of the employees will be laid down by the Board and such report will be called Annual Performance report(APR) and the bank may also call for special performance reports on any employees as and when considered necessary in the interest of the bank. AIBL has two specific format of APR (annual performance report): I.Operational post: It includes 27 traits. Operational employee’s (CEO, DMD, EVP, SVP and etc. ) performance is measured based on this 27 traits. II. Micro Finance & Logistics Posts: It includes 18 traits. This APR format is applicable for non-officer grade employee like filed supervisor, field assistant, Driver, Armed force, MCG(Messenger cum Guard) Operational post (APR format) Annual Performance Report (APR) (AIBL employee’s service rule p. 74) Personal Traits of the Officer under reporting (To be filled in by the reporting officer) |SL. No. Traits | Mark Secured | | | |Excellent | | | |Excellent |Very Good | |1 |Foundation course on Banking(Batch-I/2011) |1 |45 | |2 |Foundation course on Banking(Batch-II/2011) |1 |39 | |3 |Laws & Regulations in Bangladesh for Foreign Exchange Transaction & International Trade |1 |42 | |4 |Investment Operation & SME |1 |49 | |5 |Audit of Foreign & Exchange Trade Operation |1 |29 | |6 |Orientation Course on Banking |1 |45 | |7 |Orientation Course on Banking |1 |36 | |8 |Audit of Investment Operation |1 |27 | Development Programs that are offered by â€Å"Al-Arafah Islami bank† †¢ Job Rotation: For developing employee HRD of AIBL rotate the job and responsibility of each employee on a regular basi †¢ Action Learning: Action learning programs give managers and others released time to work analyzing and solving problems in departments other than their own. †¢ Case study: During the probation period, a written description of an organizational problem given to employees to diagnose and solve †¢ Workshop: workshops are organized by AIBL on a regular interval. Workshops organized by AIBL in 2011 (AIBRTA training & workshops 2011) S/L |Subject |Number |Participants | |1 |Capacity Development in ICC & Internal Audit |1 |21 | |2 |AML Compliance: Independent Testing Procedure |1 |27 | |3 |UCP-600 and its Application |1 |50 | |4 |Implementation of Web Based EXP from matching Through Online System |1 |23 | |5 |Al-Arafah Solar Energy Investment Scheme Management |1 |40 | |6 |Al-Arafah Solar Energy Investment Scheme Operation |1 |29 | |7 |Prevention of Money laundering and Fraud-Forgery in Banking |1 |41 | |8 |Security measures in handing Cash, Cheques and Instrument |1 |42 | |9 |BACH, MICR Cheque & Instrument and Security measure |1 |48 | |10 |Automation In Banking Operation in Bangladesh |1 52 | |11 |Green banking & Environment Risk Management |1 |44 | |12 |AML & CFT Issues(Batch-I/2011) |1 |49 | |13 |AML & CFT Issues(Batch-II/2011) |1 |44 | |14 |Operation Risk Associated with manual payment |1 |40 | |15 |UCP-600 |1 |48 | |16 |Asset Liability Management & Profit Maximization |1 |48 | |17 |General Insurance: bankers issues |1 |44 | |18 |Legal Process of Investment Recovery |1 |38 | |19 |Salesmanship in handling Foreign Remittance |1 |41 | |20 |Supervisory Review Process |1 |30 | |21. |Environment Risk Management & Investment Risk Management |1 |30 | |22. |Asset Liability Management & Profit Maximization |1 |40 | |23. |Renewable Solar Energy Management |1 |42 | |24. |Renewable Solar Energy Operation |1 |51 | |25. Readymade Garments Industry finance in AIBL |1 |48 | |26. |Implementation of Web Based EXP from matching Through Online System |1 |56 | |27. |Green Banking & Environment Risk Management |1 |21 | |28 |Functions of Internal Control & Compliance Division |1 |46 | |29 |Shariah Implementation in Aibl (batch-I) |1 |28 | |30 |ShariahImplementation in Aibl (batch-II) |1 |23 | |31 |AML & CFT Issues |1 |45 | |32 |Control of Primary Securities against Investment |1 |51 | |33 |UCP-950 |1 |23 | | | | | | Outreach Workshop: Outreach workshops are very helpful for providing development programs outside the Dhaka city. (AIBRTA training & workshops 2011) 2011 following outreach workshops are organized by AIBL S/L |Subject |Number |particepents | |1 |Sariah Implementation in Aibl(Veneue Agrabad, Khulna, Zindabazar, |1 |90 | | |Bogra branch) | | | |2 |Money Laundering prevention 2011(lead bank AIBL, Venue: Jhalakathi |1 |33 | | |branch) | | | Executive Workshop: AIBL organizes executive workshop for top level executive. 2011 following executive workshops are organized by AIBL |S/L |Subject |Number |Participants | |1 |Stress Training 1 |42 | |2 |Core Risk management |1 |42 | |3 |CAMEKS Rating & Banks health |1 |35 | |4 |Preparedness for BASEL II |1 |40 | |5 |Internal Control & Compliance |1 |42 | |6 |Corporate Gove rnance |1 |35 | †¢ Role Play: After completing each topic in the training institute, each trainee is sent to the nearest branch of the bank to implement his learning into the real life †¢ In house Development centers/Corporate University: AIBTRA typically offer a catalogue of courses and programs aimed at supporting the employers’ management needs. 3. 3. Organizational Benefits of Training & Development program Productivity: (M. Islam 2012, pers. Comm. , 26 November) Training is a process of learning as well as the function of acquired knowledge aiming at better performance of the employees, while development involves not only the related process but also helps the employees in building up their personalities, at the same time as, improving their progress towards the actualization of their full potentials. In order that the total performance may be improved, organizations need to have trained and experienced people. AIBL practices training and development for their employees with the thinking that their efficiency will increase.They think that these programs are very important for the preparation of the employees with the necessary skills that are required for particular jobs. Besides, failing to reach an expected level of performance of the employees or declines in the productivity also require training and development programs to be administered in the organizations. Team Spirit: Building team Spirit is very important for any organization because everyone in the organization work as a team and most of the time they are dependant with each other. So if they have no team spirit and team coordination then they will be failed to reach the goal and more value to the company. The complexities of various jobs emerge the importance of training and development programs.So AIBL train their employees for building the team spirit among the employees because they know when they practice the team spirit among the employees then the production level ultima tely increase. Organization Climate: This bank is one of the most disciplined Banks with a distinctive corporate culture. Here they  believe in shared meaning, shared understanding and shared sense making. Their people can see and understand events, activities, objects and situation in a distinctive way. They mould their  manners and etiquette, character individually to suit the purpose of the Bank and the needs of the customers who are of paramount importance to us. The people in the Bank see themselves as a tight knit team / family that believe in working together for growth. Health Work Environment:The offices of the Bank situated in the heart of city, generally in commercial surroundings. Offices are centrally air conditioned and well decorated with modern furniture and sophisticated technical Banking equipment. With the advancement of  Technology, offices of the Bank’s are now become paperless; most of the banking tasks are recorded and accomplished here with stron g banking software. They are continuously training employees for getting used to it and employees are learning and implementing very well. Inter and intra office communications are generally held by telephone, fax, internet and cell phones. The interior decorations of the office look gorgeous.Employees do their task in a safe and healthy environment Image: For the image of the company they give training and development to employees because as a big company they have some reputation to other companies and if they want to make them as a strong competitor they should maintain a good image both in the whole industry and to the customer. Profitability: The main agenda of any business is to make profit. For making profit they have to maintain quality products and services and to produce product efficiently. AIBL has different companies and every business’s main purpose is to make profit. So they think about the other factors behind this success so they arrange training and developm ent.Communications: The increasing diversity of today's workforce brings a wide variety of languages and customs. For being successful, it is also important to maintain communications among the employees and the other clients. So it is very important how to communicate with them and in which way it will be more effective. For this reason AIBL arranges some training and development program for their employees. They mainly do this for mid level and top level employees. Ethics: Today's society has increasing expectations about corporate social responsibility. Also, today's diverse workforce brings a wide variety of values and morals to the workplace.So for maintaining ethics they arrange some training and development program and practice this in their organization. Employee Benefits By providing training and development employee also get benefitted from it. Some of the benefit is given below: Training Improves Job Satisfaction: The training program improves the job satisfaction of the employee because when any employee get training then he/she become more efficient about his/her job. He/ she will be rewarded for his/her performance or can get recognition from senior employees which will motivate them. Training gives them knowledge which they share with others and they come out with so many ideas which involve them into work more.So, when his/her efficient level goes up and does the job more efficiently, then the salary of the employee goes up and overall the satisfaction level improves. Increased Employee Motivation: AIBL arranges some orientation program about their new technologies. So when the employees get some information about it and know how it works, then they are more motivated to do the job. But sometimes it’s not about a ‘new’ way of doing things, and simply about reminding each other about the ‘best’ way of doing things. Like any relationship, your employee relationships can get stale unless you consistently invest tim e and effort to remind them how important they are to you, how valued their contributions are, and critically that they are all part of one team—the same team Reduced employee turnover:Training and development increases employee’s motivation so that they eager to do his/her job with the company. So the employee turnovers become low and they tend to stay in the organization for long period of time. 4. 0 Findings ? We have found that all the employee of Al Arafah Islami Bank Limited has got training and thus the employee performance shows great potentiality and skill. The analysis also shows the respondents have got variety of experiences which is taking banks performance upward. ? A respondent as employee of Al Arafah Islami Bank Limited seems in young age and all of the employee educational level exceeds masters which are providing banks performance a great rhythm. Most of employees got 60 days entry level training which is known as Foundation Course and 5 to 10 days m id level training because here number of employees is higher than advance or other level. The bank provides advance and other level training according to their succession plan or situation. ? In Al Arafah Islami Bank Limited the respondents as employees got both on the job training and off the job training from the bank but unfortunately the employees did not international training from the abroad. ? Respondents show that training and development program provided by the bank is well organized and equipped. It also considered that training and development programs are directed and controlled by skilful trainer and these programs are based on banks working activities. Respondents as employees of Al Arafah Islami Bank agreed that training provided bank is beneficial for their working performance. So we can see training and development program provided by Al Arafah Islami Bank has positive effect on employee performance. 5. 0 Recommendations †¢ Al Arafah Islami Bank Ltd is arrangin g initial training employees but in mid level and advanced level they are not arranging well length programs. Al Arafah Islami Bank Ltd must be arranged training program and increase length of these types of training before sending employee which types of training will necessary for the trainees in future and one of the advantages s that no hindrance with regular activities. For these reasons, customer service of the bank will be increased and customer satisfaction will increase. †¢ TNA is essential for every bank to carry out the banking activities and to reach its goal. We know that TNA is the difference between standard performance and the actual performance. The bank should measure TNA before sending for training. Higher authority will take appropriate decisions for each employee to measure TNA and must be fair in their work. †¢ Though the trainers are very much skilful and knowledgeable persons sometimes they are not understand the trainee’s needs or their lack ing. So they must make know the need of trainees. The training and development department of Al Arafah Islami Bank Ltd provides the training to their employees try to improve the training and maintain international standard which helps the bank to reach its mission and vision. 6. 0 LIMITATIONS Followings are the limitations of the project work taken by us: ? One of the limitations of this project study is of the time limitation. Since the duration of our project study is of 4 weeks, it is somehow difficult to fully know any organization like AIBL in this limited time  period. ? Senior managers and others officers in AIBL are also very busy. They do not have enough time for solving our queries in details. Some respondents were conservative as they were hesitated to express their real opinion. ? Main limitation of this report was that the bank did not disclose all the data and main information for obvious reasons, which was could have been very much vital 7. 0 Conclusion Al-Arafah I slami Bank started in 1995 with the said principles in mind and to introduce a modern  banking system based on Al-Quran and Sunnah. Al-Arafah Bank is one of the markets leading bank in the banking sector and it has already proved its presence and contribution in the socioeconomic prospect. For the economic development of a country banking sector plays a vital role .In this project, we briefly discuss about organizational background, mission, vision and in topic analysis we elaborate performance appraisal, training and development program and its benefit. We can conclude that to compete with other bank Al Arafah Islami Bank needs skilful employees this is achieved by the effective training program. They have passed 16 years and  today they have established their own service and Brand with much goodwill. But still they  have problems and they are lagging behind with their competitors. Finally for the betterment of the organization, we hope that if they  take the above mentione d suggestions into account, they will definitely surpass its close  competitors in the banking service. References:Al-Arafah Islami Bank Ltd. , 2012, Employees’ Service Rules 2009 Al-Arfah Islami Bank Training and Research Academy, 2012, AIBTRA training & workshops 2011 Dhaka AI-Arafah Islami Bank Ltd. , 2012, Annual Performance Report 2011 Al-Arafah Islam Bank Ltd.. , 2012, Company Overview, [online] Retrieved December 13, 2012 , from , http:// http://www. al-arafahbank. com/ Dessler, G. & Varkkey, B. , 2012, Human resource Management, Pearson, India Wikipedia, 2012, Performance evaluation, Potential benefits of PA, [online], Retrieved December 13, 2012 , from http://en. wikipedia. org/wiki/Performance_appraisal [pic][pic][pic] ———————– 32 – 1 –