Influences of Social Media on the Youth Essay

Amanda Todd was 15 long time old and lived in Vancouver. On October 19 this year she hung herself. Shortly forward she did this, she make a YouTube video describing why she would commit this unfortunate act.What made her do this harrowing act? A 15 year-old girl with her tout ensemble life in front of her.It was the result of bullying on many an(prenominal) complaisant media sites such as Facebook.These sites were originally set up with in effect(p) intentions to facilitate communication and to keep in touch with friends and family and to sh atomic number 18 pictures. These sites mess also assist pupils in connecting with their peers and discussing their homework, assignments and group projects.Accessing various forms of fond media is a commonalty activity and has been shown to benefit adolescents by enhancing communication. Also, it improves technical skills and keeps people attached to society. Ever since children are born, books, movies and the internet see how the yout h act and think. These influence children more(prenominal) and more as they grow older. During the last 5 years, the calculate of preadolescents and adolescents using such sites has increased dramatically.Read more Impact of genial media on youth speech essay.According to a recent poll, 22% of teenagers log on to their favorite social media site more than 10 times a day, and more than half of adolescents log on to a social media site more than once a day. Thus, a grownup part of this generations social and emotional development is occurring epoch on the Internet. Unfortunately recent research indicates that these sites are now utilize in a more negative way far outweighing the benefits. Bullying, female genitaliatonment forming and pedophilia are increasingly prevalent on social media sites. Because of their check capacity for self-regulation and susceptibility to peer pressure, children and adolescents are at some find as they navigate and experiment with social media.NEG ATIVE accessible media sites bear have a detrimental effect on the youth receivable to the ever-present risk of bullying. Cyberbullying is when a person or troll intentionally uses digital media to purposely expose, harm or embarrass a bad-tempered person. It is the most common online risk for all teens and is a peer-to-peer risk. Cyberbullying is quite common throughout society and it can happen to anybody. It can cause enigmatical psychological damage such as depression and anxiety. Also, there is the frugal impact felt by parents as their children are exposed to illimitable advertisements that pop up on sites urging them to buy unnecessary products. In a childs perspective, they think they need these certain items to be popular or cool.Worse still, some of these sites can expose children to strength and sexual content and this has been proven to influence children in become more aggressive in their behaviour. Furthermore, children are becoming immune to seeing rage and r egard it as acceptable behaviour. They are losing their ability to empathise and to have what is right or wrong. This has huge implications for society, relationships and families.Lastly, it is known that students that are on social media sites while studying show reduced academic performances because their ability to trim on a particular task is reduced by the distractions that are brought about by Facebook, YouTube or Twitter. The popularity of social media, and the speed at which instruction is published, has created a lax attitude towards proper spelling and grammar. This affects a students ability to write and spell effectively.In conclusion, the use of social media websites is detrimental to the education of the youth and also their mental well-being. As you can see from this brief overview of Facebook and other social media sites, the negative impacts far outweighs the initial benefits for which they were established. Weve looked at cyberbullying and resulting suicides, th e exploitative marketing, the exposure of violence and a breakdown in societal values and morality due to the effects of social media sites. Do you think these social media sites are worth all of these potential hazards? I think not.BIBLIOGRAPHYDunn , J n.d., The 10 Best and Worst Ways Social Media Impacts Education, , accessed 11 November 2012, .DIaz, Y n.d., Anit-Social Networking, , accessed 11 November 2012,

Digital Fortress Chapter 30

Alfonso long dozen was a small four-star hotel set back from the Puerta de Jerez and meet by a thick wrought-iron fence and lilacs. David made his way up the marble stairs. As he reached for the door, it magi anticipatey opened, and a bellhop us here(predicate)d him inside.Baggage, senor? whitethorn I help you?No, thanks. I need to limit the concierge.The bellhop looked hurt, as if something in their two-second encounter had not been satisfactory. Por aqui, senor. He led Becker into the worldly concernsion, pointed to the concierge, and hurried off.The lobby was exquisite, small and elegantly appointed. Spains Golden Age had long since passed, but for a while in the mid-1600s, this small nation had ruled the world. The live was a proud reminder of that era-suits of armor, military etchings, and a display case of halcyon ingots from the New World.Hovering behind the counter tag conserje was a trim, well-groomed human beings happy so eagerly that it appeared hed waited his en tire life to be of assistance. En que puedo servirle, senor? How whitethorn I serve you? He spoke with an affected lisp and ran his eye up and down Beckers body.Becker responded in Spanish. I need to babble to Manuel.The mans well-tanned slip smiled even wider. Si, si, senor. I am Manuel. What is it you desire?Senor Roldan at Escortes Belen told me you would-The concierge silenced Becker with a wave and glanced nervously around the lobby. Why dont you step over here? He led Becker to the end of the counter. Now, he continued, practically in a whisper. How may I help you?Becker began again, lowering his voice. I need to speak to one of his escorts whom I believe is dining here. Her name is Rocio.The concierge let break through his breath as though overwhelmed. Aaah, Rocio-a beautiful creature.I need to see her immediately. merely, senor, she is with a knob.Becker nodded apologetically. Its important. A matter of national security.The concierge shook his head. Impossible. Perhaps if you left-hand(a) a-It will only take a moment. Is she in the dining room?The concierge shook his head. Our dining room closed half an hour ago. Im aquaphobic Rocio and her guest have retired for the evening. If youd like to leave me a message, I throw out give it to her in the morning. He motioned to the bank of numbered message boxes behind him.If I could just call her room and-Im sorry, the concierge said, his politeness evaporating. The Alfonso XIII has strict policies regarding client privacy.Becker had no intention of waiting ten hours for a fat man and a prostitute to wander down for breakfast.I understand, Becker said. Sorry to stick you. He glowering and walked back into the lobby. He strode directly to a ruddy roll-top desk that had caught his eye on his way in. It held a generous supply of Alfonso XIII postcards and stationery as well as pens and gasbags. Becker sealed a white piece of paper in an envelope and wrote one word on the envelope.ROCIO.Then he went bac k to the concierge.Im sorry to trouble you again, Becker said glide path sheepishly. Im being a bit of a fool, I know. I was hoping to prescribe Rocio personally how much I enjoyed our time together the other day. But Im leaving town tonight. Perhaps Ill just leave her a origin later on all. Becker laid the envelope on the counter.The concierge looked down at the envelope and clucked sadly to himself. Another lovesick heterosexual, he thought. What a waste. He looked up and smiled. But of course, Mr.?Buisan, Becker said. Miguel Buisan.Of course. Ill be sure Rocio gets this in the morning.Thank you. Becker smiled and turned to go.The concierge, after discreetly checking out Beckers backside, scooped up the envelope off the counter and turned to the bank of numbered slots on the wall behind him. Just as the man slipped the envelope into one of the slots, Becker spun with one final inquiry.Where might I call a taxi?The concierge turned from the wall of cubbyholes and answered. But Becker did not turn around his response. The timing had been perfect. The concierges hand was just emerging from a box marked Suite 301.Becker thanked the concierge and slowly wandered off looking for the elevator.In and out, he perennial to himself.

Sources of English Law

Sources of face Law By Christopher Richards 9/11/09 Executive Summary In this report I pull up stakes be discussing the English Legal System, its structure and its primary tooth roots. English impartiality and its ratified structure lay d experiences the basis of many an(prenominal) countries commonality practice of law legal system, this includes virtu all(prenominal)y commonwealth countries and the United States. English law falls into both roomy categories Civil law derived from Roman law, it is applied when wrongs amaze been made against individuals it is likewise know as a claim or an action.Criminal law jump instrumented assumeing the Norman Conquest of 1066, Its offences relate to wrongs against space and, or persons which affects the whole community, it is often referred to as prosecution.. I forget explain w here(predicate)fore the methods and tools of statutory make upation be necessary for the correct implement of rules and how juridical president formed the backbone of English common law. Introduction The English legal system stems from The Norman Conquest, William of Normandy invaded Eng charge in 1066 and upon successfully defeating his adversary he gained the crown of England.William formed the fist basic government The Kings Council(Magnum Concilium) comprised of Lords, Bishops, Barons and other trusted figures Whos advice which the monarch relied on. Introduced the separation of lay woos and perform woos with a screen jurisdiction evanesceing to church law i. e. clergy were act in in that respect own courts. As the Monarch William owned all of England with lords, bishops and barons possessing land as tenants or sub tenants, this prompt the introduction of feudal system of land tenure and judicial activity. Common law would be conventional by settle discussing conduct and behaviour throughout the land, still at this point no legislation was ever written down. Further changes arise, these includes the attainmen t of object lesson law setting reason through facts of similar elusions that bring forth already been watchd so that it kindle be calculated equally, extraly the hierarchy of attach precedents and court structure. Statutory Interpretation Some statutes keep a vague or misleading wrangle or words many with homonyms which fuck come the process of implementing the correct ruling a difficult one,A few atomic number 18as to look at argon a Broad shape ( spoken language that ar employ to cover many possibilities), Ambiguity (were the word has two or more means and its non defining in which one should be employ), a drafting error (an error that was made when drafting the acme or when it was amended), new developments (developments in technology means that old acts whitethorn not cover evidence day situations) and use of language( spoken language that have changed in meaning over time), this is why statutory interpretation as a tool is so important, it allows prono unces to look at statutes and withhold the true reasoning behind it, there argon three methods which are utilise to do this.Literal Rule This is the most commonly used construction and takes precedent over the appraiseing approach patterns it means to take words written into the statute literally in the sense that if the words are clear then they should be applied. The literal recovers had been scrutinised by many lawyers, and guess to be a rule against using intelligence in taste language. Anyone who in ordinary life interpreted words literally, be torpid to what the speaker or writer meant would be regarded as a pedant, a mischief-maker or an idiot.An typeful of this is in the Hotel Proprietors act 1956, it provides that the hotel owner is liable for loss of or damage to guests property, unless does not filtrate to guest vehicles or property left therein , so does the proprietor fall liable to property left on, rather than inside the vehicle ? Interpreted literally yes, the proprietor is liable, because if the act had intend to exclude property left on a vehicle the act would have utter therein or thereon so great care essential be applied when using this rule. The Golden RuleThe deluxe rule is very much a modification to the literal rule, whereas instead of taking the literal meaning the courts will use a narrow or a great approach of interpreting the word to avoid an ill-advised result. If the Narrow approach is applied it would usually be because the word themselves lead to an absurd result for example if there is a sign that say do not use lifts in scale of a prove interpreted literally it would mean to never use lifts, in case of a fire which would lead to an absurd result but clear it is to prevent people from using the lifts if there is a fire nearby.The wide approach is were the word has only one meaning but the meaning could result in a repugnant situation, the wider golden rule would be applied to modify the words in the st atute to avoid an partial result this is shown in the case Re Sigsworth (1935) A son had polish off his mother then committed suicide, The mother had not made a will and under the Administration of justice act 1925 the son would been authorise to her inheritance, the decision had to be made weather her inheritance was to passed onto the mothers family or her son, there is no ambiguity of the act so due to the circumstances the umpire used to golden rule to favour the mothers family rather than the son benefiting from his crime. this rule is favoured by Lord Wensleydale in the case of Grey vs.Pearson (1857) he stated In construing statutes, and all written instruments, the grammatical and ordinary sense of the words is to be adhered to, unless that would lead to some absurdity or inconsistency with the occupy of the instrument, in which case the grammatical and ordinary sense of the words whitethorn be modified, so as to avoid that absurdity or inconsistency, but not farther. T he Mischief rule This third rule gives a judge more discretion than either the literal or the golden rule. This rule requires the court to look to what the law was before the statute was passed in order to discover what gap or mischief the statute was intended to cover. The court is then required to interpret the statute in such a way to ensure that the gap is covered. The rule is shown inHeydons Case (1584), where it was said that for the true interpretation of a statute, four things have to be considered 1. What was the common law before the making of the Act. 2. What was the mischief and defect for which the common law did not provide. 3. What remedy Parliament hath resolved and appointed to resume the disease of the Commonwealth. 4. The true reason of the remedy, and then the office of the Judges is to make such construction as shall suppress the mischief and advance the remedy. An example of the mischief rule in use is found in the case of Corkery v Carpenter (1951). In 1951 Shane Corkery was sentenced to one months imprisonment for being inebriated in charge of a bicycle in usual.The defendant was drunk and was pushing his pedal bicycle along Broad Street in Ilfracombe. He was charged under section 12 of the Licensing Act 1872 with being drunk in charge of a carriage. The 1872 Act made no reference to bicycles. The court elected to use the mischief rule to find out the matter. The purpose of the Act was to prevent people from using any form of transport on a public highway whilst in a state of intoxication. The bicycle was a form of transport and therefore the exploiter was correctly charged. Purposive approach This rule exceeds the mischief rule by not just looking for gaps in statutes but for resolve to decide what parliament actually meant to achieve.One of the true supporters of this rule is Lord Denning, his placement towards this rule is shown in the case of Magor and St Mellons v Newport Corporation (1950) We sit here to find out the int ention of parliament and carry it out, and we do this break off by filling in the gaps and making sense of the enactment than by opening it up to destructive analysis This approach does have its drawbacks and many a judge has voiced its shortcomings saying that, should judges refuse to follow the clear words of parliament and how do they know what parliaments intentions were? Summary Statutory interpretation as tool is paramount, without it, statutes that were written blow years ago just wouldnt be able to be implemented unless statutory interpretation was used. It allows judges and Lords the flexibility to look into statutes and decide whether it is still fair to implement, to break down statues and to interpret how they were received intended, additional if bills have been written incorrectly the judge can use statutory interpretation to avoid absurd results and not make a travesty of the English Legal System. Rules of LanguageEiusdum generis (of the kindred kind) In addition to the rules above, the courts likewise rely on rules of language to aid in statutory interpretation. Firstly, eiusdum generis Latin for of the same kind, used to interpret loosely written statutes. The general words are to be taken as referring only to those things of the same course as specifically mentioned e. g. cats and dogs does not include wild animals. There moldiness be at least two specific words in a list before the general word or phrase for this rule to operate. (the phrase theatre or other place of public entertainment includes a funfair even though it was not of the same kind as theatres).Expressio unius est exclusio alterius (the mention of one thing excludes others) This is when one or more things of a particular class are mentioned but others may be silently excluded this can be seen in the case of tempest v Kilner (1846) the court had to decide whether stock and shares were affected by the statutes of invention 1677(which states that the contract of goods, w ares and ware of the value of ? 10 or more mustiness be evidenced in writing) but it was deemed that list of goods, ware and merchandise was not followed by general words(stocks and shares) and were not affected by the statute. Noscitur a sociis (a word is known by the company it keeps)This rule of language used by the courts helps interpret legislation, under which the questionable meaning of a tentative word can be derived from it association with other words. This can be seen in the case Foster v Diphwys Casson (1887), this involved a statute which stated that explosives taken into a mine must be in a case or canister. Here the defendant used a cloth bag. The courts had to consider whether a cloth bag was at heart the definition. Under noscitur a socials, it was held that the bag could not have been within the statutory definition, because parliaments intention was referring to a case or container of the same strength as a canister. Intrinsic Aids are things inside the act whi ch assist the judge to interpret or apply the law.Extrinsic Aids are things outside the act which assist the judges to apply or interpret he law. For example the judges can look at preceding acts of Parliament and the historical setting. legal precedent A judicial precedent is a decision of the court used as a source for future decision making. This is known as stare decisis (stand upon decisions) and by which precedents are dorsum and must be followed. When new cases are brought to court for the first instance and there are no previous cases to base the judgement, this is called overlord president. Binding precedent is where past judgements of a similar set of facts are implemented to help courts to keep cases fair by deciding the exit based upon previous cases.The common law has been developed by short down from precedent to precedent. In giving judgement a judge will state the law, set out the facts and then provide a decision , it is only the ratio decidendi (the legal rea soning for judicial decision)which is binding in later courts. Orbiter dicta (other things said) may be put previous in future cases but it is not binding, the difficulty is the separation of the two from past judgement as they are not usually listed separately. Judicial precedent is an important source of English law as an archetype precedent is one which creates and applies a new rule. However, the later decisions, especially of the high courts, can have a number of effects upon precedents.In particular, they may be Reversed where on appeal in the same case the decision is reversed, the initial decision will not continue to have any effect Overruled In a later case a higher court decides that the outcome of the first case was wrong. Distinguished where an rather case is rejected, either because the material facts differ or because the statement of law in the previous case is too narrow to be correctly applied to the new set of facts A refusal to follow this arises where a court, not bound by the decision, cannot bring down it but does not wish to follow it so it simply refuses to follow the earlier decision Explained a judge may seek to interpret an earlier decision before applying it, so the effect of the earlier case is varied in the circumstances of the present case. Court hierarchy and structureIn England and Wales there is a fixed hierarchy of the court system, every court is bound by a decision made by a superior court in its hierarchy and appellate courts (courts that hear appeals) are generally bound by its own decision. Courts of first instance Is where the original case was heard, The ECJ, theatre of operations of Lords, court of appeal and divisional courts do not hear any original cases as they only hear cases of appeal. European Court of Justice The ECJ is the highest court in the English Legal system European law will be decided in this court and will be binding on the rest of the courts within its structure although some laws are unswayed by ECJ and the House of Lords is supreme. One important feature of the ECJ is that it can overrule its own past decisions if deemed necessary. House of LordsIs not bound by its own decisions and is the most senior national court, its decision bind all courts set down in its hierarchy. Court of appeal Is subsequently split into two divisions, well-bred and criminal, both are bound by superior courts (House of Lords and ECJ) generally they will follow past decisions of their own but some flexibility (more so criminal division) is accepted. Divisional court Decisions are bound by the ECJ, House of Lords and court of appeal and are also usually bound by its own decisions although some flexibility similar to that of the Court of appeal can be used. in high spirits court Decisions are always bound by courts higher than them but none below.All other courts below the High Court are bound by higher courts and will not set president in subsequent cases. pic Unknown author. The C ourt social system of Her Majestys Courts Service online Available at http//www. hmcourts-service. gov. uk/aboutus/structure/index. htm accessed 16/11/09 accustom of Practice Statement Introduced in 1966, practice statements allowed the House of Lords to change a law and deviate from following earlier cases if they have been considered to have been falsely decided. There is very little guidance when implementing therefore many judges have been reluctant to use it. The first instance of its use was in the Herrington v British Railways Board(1972) this involved the law of their duty and care owed to a child trespasser.In an earlier case Addie v Dumbreak (1929) the lords had decided that the land occupier is only responsible for the duty of care to injuries of child trespassers if the injuries were deliberate or reckless. In the herrington case the lords had decided that social and physical conditions had changed since 1929 and so should the law. Summary Judicial precedent is a cru cial segment in English law, it has formed the backbone of common law by expiry rulings from president to president, binding or none binding and has given Judges and lords the power to keep every case fair through binding president and in the eventuality of changes (social circumstances, politics, technology) it can use it to adapt and give-up the ghost with the times accordingly. European Court of Justice

Performance Appraisal System

A schooling ON executing measurement SYSTEM do FOR BAJAJ FINSERV LIMITED PROJECT REPORT Submitted in the in collar fulfillment for the demo of MASTER OF BUSINESS ADMINISTRATION Submitted By SOFIYA TARRANNUM (Roll no(prenominal) 2128-11-672-018) Under the foc apply of ASHARA ANJUM HYDERABAD establishment P. G. COLLEGE (Affiliated to Osmania University Hyderabad, and approved by AICTE. DECLARATION I here by adduce that the render proceeding entitled A nurture ON capital punishment estimate SYSTEM, submitted by me below the supervision of, ASHARA ANJUM, segment of MBA, HYDERABAD governance P.G COLLEGE. HYDERABAD submitted for the requirement for the award of the Master of profession Administration of OSMANIA UNIVERSITY and it is entirely master key and has non been submitted earlier by any one for any decimal point or Diploma. PLACE HYDERABAD DATE (SOFIYA TARRANNUM) schedule NO 2128-11-672-018 CERTIFICATE This is accept that the project work entitled A STUDY ON PERFORMANCE judgment SYSTEM is bonafide work done and submitted by SOFIYA TARRANNUM, in breakial fulfillment of the requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION in HYDERABAD PRESIDENCY P.G COLLEGE (Affiliated to Osmania University, Hyderabad and approved by AICTE, during the year 2012-2013. ASHARA ANJUM ARSHAD UR REHMAN Project Guid Head of Department Hyderabad Presidency P. G College Hyderabad Presidency P. G College Hyderabad-500089. Hyderabad -500089. ACKNOWLEDGEMENT First of just now, I think almighty god who has blessed me whole through my life. I wish to express my sincere indebtedness to our principal, prof.ARSHAD UR RAHMAN. HYDERABAD PRESIDENCY COLLEGE. My aim-headed take hold thanks and deep finger of gratitude of , Head of the Department, HPC for his valuable reinforcing stimulus and encouragement . I express my sincere thanks to my guide, ASHARA ANJUM, associate professor for their valuable guidance and shadows and being instr umental in having shape to my project work. I would bid to thank entire faculty members in Hyderabad Presidency p. g college. for their support and inspiration for sure-fire completion of the project they were the nigh caring and the vanquish critics during the course of y project and enabled me to be creative and multi-dimensional in my approach. I volition re important always debited to them. Last but non the least, I wish to acknowledge with gratitude for the support and encouragement extended by my family members for the conquestful completion of the project. (SOFIYA TARRANNUM) EXECUTIVE SYNOPSIS HYDERABAD PRESIDENCY P. G COLLEGE A STUDY ON PERFORMANCE APPRAISAL DONE FOR BAJAJ FINSERV LIMITED. NAME SOFIYA TARRANNUM UNDER THE GUIDENCE OF ROLL NO -2128-11-672-018 ASHARA ANJUM defer OF CONTENTTOPICSPAGE NO. CHAPTER-1 intromission 9-16 RESEARCH METHODOLOGY17-19 CHAPTER-2 LITERATURE REVIEW14-25 CHAPTER-3 THE keep ships telephoner/ ORGANIZATION/ SYSTEM26-43 CHAPTER-4 DATA depth psychology44-68 CHAPTER-5 FINDINGS,SUGGESTION & CONCLUSION 69-74 BIBLIOgraphical recordY76 QUESTIONARE 77 LIST OF turn offS AND interpret Sl no(prenominal) FiguresPage No 1. Project Goals atomic number 18 distinct from functional Goal45 2. Position on the keister of surgical procedure46 3. Scope of using the innovating skills in qualification Decesion47 4. pctage of engineer matching with Goal48 5. Discuss several(prenominal)bodyal problem with transcendent49 6.Superior contribute to see their goal50 7. Methods of judgment51 8. social group Relationship 52 9. Employee appreciation53 10. Feedback precondition by mensurater54 11. Employee opinion around frequency of approximation constitution55 12. survey on per press toance linked deed polity56 13. Training need57 14. Employee opinion on judgment sustainment58 15. judgment System59 16. Rating strategy60 17. Planning61 18. think of of employee in the arrangement62 19. Improvement in employment pr ocess63 20. egotism-importance estimate64 21. Effectiveness of assessment65 22. Employee Satisfiction66LIST OF CHARTS Sl No. FiguresPage No 1. Process Flow Chart of Appraisal24 2. Service at Bajaj Finserv peculiar(a)25 3. slaying Rating against mortal point 27 4. Summary detail of portfolio32 5. ecesis body structure of Bajaj Finserv35 6. Appraisal by first of all Assessor37 7. Appraisal by fleck Assessor38 CHAPTER-1 INTRODUCTION RESEARCH METODOLOGY RESEARCH METHODOLOGY Research design descriptive in nature Research instrument A well(p) organise questionnaire Population size 275 strain size deoxycytidine monophosphateSampling unit Technical Sample procedure convenience sampling Sources of entropy Primary & standby info Primary data Primary data is collected from the responsives through Questionnaire & interacting with the associates. Secondary data Secondary data is collected from the variant text books On get alongance estimation, society reports, co mpany Broachers and company websites. ww. bajajfinserv. com Statistical tool burthen ordinary musical arrangement and easy percentage method. This chapter deals with the deed of the airfield, the Need of the teach i. e. for what offer the say is actually carried out, the Scope of the study, the Objectives of the study, the Various sources of data collection, the plain instruments employ for conducting survey desire Questionnaire, Interview etc, the way the data is analyzed, the foundation of the study and finally the limitation involved in the study.TITLE OF THE STUDY The Title of the study is STUDY ON PERFORMANCE APPRAISAL SYSTEM At BAJAJ FINSERV LIMITED , Hyderabad, and Andhra Pradesh. NEED FOR THE STUDY ?Per mannikinance estimate has been considered as a or so signifi stick outt and dispensable tool for an physical composition. It is highly useful in making decisions regarding various get(prenominal) aspects. Per con spend a pennyationance appraisal developing criteria for forwarding and c beer instruction. ?It take into account a synthetic feed back to the employees regarding thither public presentation with in a contain block of time.It prevent grievances and increases the analytical abilities of the supervisors The boilersuit impersonals of act appraisal is to change the efficiency of an enterprise by attempting to mobilize the ruff possible effort from individuals employed SCOPE OF THE STUDY The scope of the study has been confined to the associates of Bajaj Finserv limited. It entangles associates of various segments with different cadres only top-level executives ar excluded from the study. OBJECTIVES OF THE STUDY ?To study the existing proceeding appraisal administration at B F L. ?To evaluate the effectiveness of appraisal brass. To offer lead for bet callent in performance appraisal system. RESEARCH formulate descriptive study A research design is the arrangement of conditions for collection and digest of da ta in manner that aims to combine relevance to the research purpose with economy in procedure. RESEARCH INSTRUMENT Making researches hand a choice of two main research instruments in ac semenulation primary data. They ar questionnaire and mechanical devices. Hear the research instrument utilise in a structure questionnaire, which is c arfully and well designed. It includes some(prenominal) go around and close ended questions.The questionnaire is personally administered to the respondents and clarify the doubts if any , and the responses were solicited. SAMPLING DESIGN POPULATION In statistical uses the term population is any mortal or infinite collection of individuals. The populations of this study are associates of the technical section of the company. Population size Population size constitutes 275 associates Sample size A seek size is 100 Sample unit A sample unit is profit department. SOURCES OF DATA COLLECTION selective information for the present study is collecte d through two sources i. e. through primary data and instanthand data.Primary Data The primary data is collected through Questionnaires and interacting with the associates. Secondary Data For the study on performance Appraisal System the secondary Sources utilise are various Textbooks on cognitive process Appraisal, company reports, company policies, brochures and various websites. STUDY INSTRUMENTS The questionnaire is framed to find out the effectiveness of Performance Appraisal of Bajaj Finserv restrict. It contains 24 questions. It is make dod into four sections. Setting Of Goals Role Of Superior Feedback and Evaluation organisational EffectivenessANALYSIS OF DATA The collected data is tabulated and then analyzed by simple percentage, leaden clean and represented by different types of charts and charts. The analysis of data is on the basis of the questionnaire collected from the associates. CHAPTER-2 LITERATURE REVIEW CONCEPTUAL simulation DEFINITION OF PERFORMANCE APPR AISAL To define the concept of performance appraisal the management gurus defy taken certain common parameters and on the basis of that they have defined the term. The terminology of the definitions whitethorn differ but the overall misbegottening of the definition remains egotism-importancesame(prenominal). just about of the trail definitions are given to a lower place ?Performance appraisal is a systematic check up on of a persons work and touchments over a recent limit, usually leading to plans for the future. ?In, its most basic form, performance appraisal includes documenting achieve issues (Hopefully, by excessively including use of examples to clarify documentation) and indicating if standards were met or non. ?The appraisal usually includes some form of development plan to address insufficient performance. ?The grade of an individuals work performance in order to arrive at objective personnel decisions.PURPOSE OF TRADITIONAL PERFORMANCE APPRAISALS Performance appraisal for evaluation using a traditional approach has served the following purposes ?Promotion, separation, and transfer decisions. ?Feedback to the employee regarding how to validation viewed the employees performance. ?Evaluation of relative contributions made by individuals and departments in achieving high(prenominal)(prenominal) organization goals. ?Criteria for evaluating the effectiveness of selection and placement decisions, including the relevance of the information utilize in the decisions within the organization. Reward decisions, including merit increases promotions and opposite rewards. ?Ascertaining and diagnosing, training and development decisions. ?Criteria for evaluating the success of training and development decisions. INSIGHT INTO APPRAISAL THEORY Organizations in their daily activities works cover up loads of activities. The employees working in the organizations carry on these activities. Organization activities done by the employees are termed as p erformance the vernacular that is all time in the heads of the management. The success of the organization depends upon the performance of its employees primarily organizations did non have any kind of particular methodology to handle the issues relating to measuring of performance because they did not had an understanding that the performance of the employees plays an signifi dopet power in the overall functioning and meeting goals and objectives of the organizations. Performance is measured fundamentally on the basis of the goals by an individual, which contribute to the overall organizational goals. The main think is on meeting the overall goals and objectives of the organization in the specific time span.In doing so the organization moldiness besides see that the individual self-development and personal goals are also fulfilled. When the individual is able to synchronize his personal goals with that of the organizational goals then the working of the system result be apt. prolusion OF THE APPRAISAL SYSTEMS The appraisal is both inevitable and universal. In the absence of carefully structured system of appraisal, people tend to judge the work performance of others ,including ranks, naturally, informally and arbitrarily.Without a structured appraisal system there is a little medical prognosis of ensuring that the judgments made get out be lawful, fair, defensible and accurate. The account of performance appraisal is quite brief. Its roots in the early twentieth century can be traced to Taylors pioneering time and motion studies. merely this is not very serveful, for the same may be say around almost everything in the field of modern human resource management. The apply of appraisal is an ancient art. In the master of things historical , it might well lay claim that appraisal is the world second oldest profession.Performance appraisal systems began as simple methods of in seminal fluid justification. That is, appraisal was utilise to decide whether or not the wages or wage of an individual employee Was justified. Little consideration, if any, was given to the developmental possibilities of appraisal. It was matte up that a cut in a pay, or a rise, should provide the only required impetus for an employee to either improve or breed to perform well. Pay rates were important, yes but they were not only the part that had an impact on employee performance.It was found that other issues, such as morale and self-esteem, could also have a major influence. APPRAISALS IN TODAYS CORPORATE WORLD The modern system of performance appraisal is defined as a structured formal inter work on betwixt a subordinate and supervisor, that usually takes the form of a periodic interview (yearly or semi-annual), in which the work performance of the subordinate is examined and discussed, with a view to pointing weaknesses and strengths as well as opportunities for improvements and skill development.In many organizations but not all apprai sal results are used, either directly or indirectly, to uphold patch up reward outcomes. That is, the appraisal results are used to identify the break up acting employees who should get the majority of available merit pay increases, bonuses and promotions. By the same token, appraisal results are used to identify the un costyer performers who may require some form of counseling, or in some cases demotion, dismissal or decreases in pay. (Organizations need to be aware of laws in their country that might throttle their cleverness to dismiss employees or decrease pay. FLAW EXIST IN TRADITIONAL PERFORMANCE APPRAISAL SYSTEM oWork scheduling plans oBudgeting o benignant Resource formulation MOSTLY USED METHODS OF PERFORMANCE APPRAISAL RATING SCALES The judge carapace method offers a high degree of structure for appraisals. Each employee character or characteristics is rated on the bipolar scale that usually has several points ranging from poor to excellent . The traits assesse d on these scales include ? Cooperation ?Communication ability ?Initiative ? promptness ?Technical competenceThe nature and scope of the traits selected for inclusion is limited only by the imagination of the scales source or by the organizations need. BEHAVIORAL ANCHORED RATING SCALES The term used to describe a performance rating that focused on specific behaviors or arranges as indicators of effective or powerless performance, rather than on broadly supposed adjectives such as norm, above average, or below average . bright RATING SCALES The term used to define the oldest and the most widely used performance appraisal method.The evaluator are given a graph and asked to rate the employees on each of the characteristics. The number of characteristics varies from one to hundred. The rating can be a matrix of boxes for the evaluator to check off or a bar graph where the evaluator checked off a location relative to evaluators rating. CHECKLIST The term used to define a set of a djectives or descriptive statements. If the rater believed the employee possessed a trait listed, the rater checked the item if not, the rater left the item blank. The rating account from the checklist equaled the number of checks.WEIGHTED CHECKLIST The term is used to describe an alternative method of performance appraisal where the supervisor or personal specialists familiar with the trick being evaluated get a gigantic list of descriptive statements about effective and ineffective behavior of crinkles. rank METHOD The term ranking has been used to describe an alternative method of performance appraisal where the supervisor has been asked to order his or her employees in terms of performance from highest to lowest. CRITICAL INCIDENT METHODThe term is used to define a method of appraisal that made lists of statements very effective and very ineffective behavior for employees. The lists have been combined into categories, which vary with the business concern. Once these cate gories are real and a statement of effective and ineffective behavior has been provided, the evaluator save examples of exact behaviors, and the log has been used to evaluate the employees at the end of evaluation period. NARRATIVE OR ESSAY EVALUATION This method requires the evaluator to sack out a short essay describing each employees performance during the raring(predicate) period.This format emphasizes evaluation of overall performance, base on the strengths and weaknesses of an employee performance. Some companies calm use this method exclusively, whereas in others, the method has been combined with the graphic rating scale. MANAGEMENT BY OBJECTIVES The management by objectives performance appraisal method has the supervisor and the employee get together to set objectives in quantifiable terms. The appraisal method has worked to eliminate communication problems by the establishments of regular meetings, emphasizing results, and by being an on-going process. Cascading o f organizational objectives oSetting up of subordinate objectives oReviewing and evaluating the performance oFeedback and rewards oSetting up of new MBO. 360 DEGREE PERFORMANCE APPRAISAL Performance Appraisal by all the parties like supervisors, peers, subordinates, employees themselves, users of service and consultants is called 360 degree Performance Appraisal. The surveyr should be capable of determining what is more important and what is less important. He should prepare reports and make judgments without any bias. self APPRAISALIf individuals understand the objectives they are anticipate to achieve and the standards by which they are to be evaluated, they are to a great expiration in the scoop out position to appraise their own performance. Also, since employee development squiffys self-development employee who appraises his or her own performance may become highly motivated. MERITS OF AN APPRAISAL SYSTEM Perhaps the most significant benefit of appraisal is that, in the rush and bustle of daily working life, it offers a rare find for a supervisor and subordinate to have time out for a one-on-one backchat of important work issues that might not other than be addressed.Almost universally, where performance appraisal is conducted properly, both supervisors and subordinates have reported the let as beneficial and positive. Appraisal offers a valuable opportunity to focus on work activities and goals, to identify and correct the existing problems, and to encourage better future performance. Thus the performance of the whole organization is enhanced. The value of this piercing and purposeful interaction between a supervisor and subordinate should not be underestimated. Motivation and SatisfactionPerformance appraisal can have a profound effect on levels of employee motivation and satisfaction. It provides employees with recognition as an incentive has been capacious noted. In fact, there is evidence that human beings will even opt negative recogn ition in likeence to no recognition at all. Training and Development Performance Appraisal offers an excellent opportunity mayhap the best that will ever occur for a supervisor and subordinate to recognize and add upon individual training and development call for. Recruitment and inductionAppraisal data can be used to monitor the success of the organizations recruitment and induction practices. For example, how well are the employees performing who were hired in the past two years? Appraisal data can also be used to monitor the effectiveness of changes in recruitment strategies. By following the yearly data relate to new hires it is possible to assess whether the superior normal quality of work force is improving, staying steady, or declining. Employee Evaluation though often understated or even denied, evaluation is a licit and major objective of performance appraisal.But the need to evaluate is also an ongoing source of tension, since evaluative and developmental prioritie s appear to often clash. Yet at its most basic level, performance appraisal is the process of examining and evaluating the performance of an individual. It is been said by some that appraisal cannot serve the needs of evaluation and development at the same time it must one or other. EXPECTATIONS FROM coach-and-four IN DOING PERFORMANCE APPRAISAL Translate organizational goals into individual job objectives Communicate management expectations regarding employee performance. Provide feedback to the employee about the job performance in light of managements objectives. Coach the employee on how to achieve job objectives/requirements. Diagnose the employees strengths and weaknesses. Determine what kind of development activities might help the employee better utilize his or her skills to improve performance on the flow job. CRITERIA OF A SUCCESSFUL PERFORMANCE OBJECTIVE Specific What specifically is to be achieved? Not just what actions are to be performed, but what results are to be achieved through these actions? Keeping objectives simple ensures they are clear and specific.This also reduces the chance for dis barfes or confusion come performance appraisal time. Measurable How will you know how well an objective has been achieved? Although it may not be pronto apparent, every object can be measured. Some measures can be measured quantitatively others must be measured qualitatively. Accountable obligation for performance objectives must be crystal clear and specifically state who is accountable. The more detail the better. A clear definition of what he or she is specifically accountable for will help reduce confusion cum performance appraisal time.Defining accountability will ensure a sense of urgency and purpose on the part of the employee. Realistic For an objective to be look uponingful, it must be realistic and reasonable. A well-written performance objective focuses on the goals and objectives required to meet the objective. In highly efficient organizat ions, performance objectives last link back to the companys overall strategy and task plan. Objectives should challenge employees towards continuous improvement, but should not be unrealistic or unattainable. Time base An achievable time frame must be set for reaching the objectives.Consider assigning specific target dates not only for the performance objective itself, but also each lesser milepost linking the entire goal. Remember to be specific towards achieving results and guide action in a results oriented ways towards the objective. PROCESS FLOW CHART OF APPRAISAL GENERAL INSTRUCTIONS The performance rating against individual item in the appraisal is to be done on a 1-5 point scale as follows RATINGEXPLANATION 5OUTSTANDING- Exceeds requirements significantly and consistently in all critical work aspects. Showed tremendous initiative and is very proactive . 5EXCELLENT- Performance at the highest standards. possesses and efficaciously utilized where undeniable, the knowledg e in areas beyond those required for the discharge of critical responsibilities. Exceed requirements in most critical areas. Plans and executes well 4VERY GOOD- Demonstrates effective skills in most and demand responsibilities. Some skill areas still need improvement in order to excel at the job. 3. 5GOOD- Demonstrates skills in some essential areas. There is scope for improvement in some critical right areas. Shows initiative. ABOVE AVERAGE- Demonstrates skills in some of the essential responsibilities. Performance is adequate for the flow rate review period. Supervision is required to execute tasks in many areas. 2AVERAGE- Demonstrates average skills in most of the essential responsibilities. Meets targets with continuous supervision. Intensive training is required, 1 infra AVERAGE- Demonstrates Level of skills that has been unsatis brokery and inadequate for the discharge of the essential responsibilities. consistently fall short of requirements. High level of supervision is required.Assessments duly realized in all respects, are to be forwarded to HR, in sealed envelopes. CHAPTER-3 The Company/ Organization/ System COMPANY PROFILE AN INTRODUCTION TO BAJAJ FINSERV LIMITED INTRODUCTION INTRODUCTION Bajaj FinServ will strive to be one of the top monetary services businesses in India focused on retorting superior customer induce through competitive products and class leading services while providing consistent and superior returns to our shareholders and maintaining the high levels of integrity of Bajaj. Company profileBajaj Finserv Limited (Bajaj Finserv) is a holding company. Bajaj Finserv is the monetary services arm of the Bajaj group. Its monetary services businesses include lending, defense, and pecuniary advisory and wealth management. The Company operates in four segments Insurance, Windmill, retail Financing and Investments & others. It does lending business Under Bajaj pay Limited (BFL). Its certificate business consists of life insuran ce, under the Bajaj Allianz Life Insurance Company (BALIC), and general insurance, under the Bajaj Allianz ordinary Insurance Company (BAGIC).The Companys fiscal Advisory and Wealth counseling business consists of Bajaj Financial Solutions Limited (Bajaj Finsol), which offers financial products and advises clients on financial and wealth management. In addition, as of March 31, 2012, Bajaj Finserv had wind-farm assets, incorporating 138 windmills in Maharashtra with an installed capacity of 65. 2 megawatt. Bajaj Finserv endeavors to become a full fledged financial services company and be the financial partner to the Indian consumer and help him across his financial needs throughout his lifecycle.Bajaj Finserv is a consumer focused company with dialect on profitable growth and operational efficiency to deliver best results to all its stakeholders. Bajaj Finserv Group companies share common values of Reliability, renewal and Efficiency and provide customers with high quality produc ts and services. Key focus areas for Bajaj Finserv are Lending, Investment, Protection and Advisory. Bajaj Finserv also has interests in Wind farms with 138 windmills and a total installed capacity of 65. 2 MW BAJAJ FINSERV LIMITED VISIONBajaj Finserv has a vision to become a full fledged financial services company and be the financial partner to the Indian consumer and help him across his financial needs, whether for finance, for investment management, for protection or for post retirement support, throughout his lifecycle. Bajaj Finserv is a consumer focused company with emphasis on profitable growth and operational efficiency to deliver best results to all its stakeholders. MISSION Bajaj Finserv is a consumer focused company with emphasis on profitable growth and operational efficiency to deliver best results to all its stakeholders. COREVALUES ?Trust ?Integrity ?Commitment ?Respect for people ? macrocosm OBJECTIVE To create value and delight for our stake holders QUALITY form _ or_ system of government To excel in providing Financial services that meets or Exceeds customer requirements through continual improvements NATURE OF ACTIVITY ?Our Products & Services ?Loans Against Property ? Personal Loans ? stage business Loans ? internal Loans ? Infrastructure Equipment pay ? Loans Against Securities ? Consumer Durable Loans As a value-added service we also provide insurance services like Group border Policy and Group Term Suraksha bundled with our products.VARIOUS DEPARTMENTS ?Operations ?Human resources ?Finance ?Networking and systems ? tone of voice ?Corporate services ?Collection ?Sales ?Product ?Marketing mess considered as familiar spirits BAJAJ FINSERV believes our people are our strength, & this is the very reason why Bajaj term them as Associates rather than employees. The work culture is people oriented, where individual aspirations are matched with organizational Objectives. Our associates exemplify our customer-oriented work style.The employe es at BFL are comfortable working across cultures and across contexts their consistency and dependability lies in their emphasis on creating solutions that are problem-focused, high on quality and quick in terms of time-to-market. Bajaj Group. Its insurance joint ventures with Allianz SE, Germany namely Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited are prosecute in life and general insurance business various(prenominal)ly. Its subsidiary Bajaj Finance Limited is a Non Banking Finance Company engaged in consumer finance, SME finance and moneymaking(prenominal) lending.Bajaj Financial Solutions Limited, a wholly owned subsidiary of Bajaj Finserv Limited is engaged in wealth advisory business. SERVICES AT BAJAJ FINSERV LIMITED Bajaj Finance Limited We are the most diversifed non-bank in the country, the largest financier of consumer durables in India and one of the most profitable firms in the category. Hereunder are drumhead detai ls of our portfolio of businesses, with a brief description on each. Consumer FinanceConsumer Durables Finance Lifestyle Finance EMI Card Personal Loans Cross Sell Co-branded consultation Cards Two and three wheeler FinanceSalaried Personal Loans SME FinanceMortgage Business Loans commercial message LendingConstruction Equipment Finance Infrastructure Finance Vendor Financing Awards and Accomplishments The recognition that matters the most to us is the one we receive from our customers. That was how it was when we lettuceed. That will be even when we have a treasure trove of Industry Recognition and awards Awards Recently, we won the CIO 100 Innovation award for two of our innovations countries such as Canada, Sweden, Australia, Singapore, Vietnam, Hungary and India, the CIO 100 Awards is a truly global recognition.It is an acknowledged mark of excellence in enterprise IT. Management Profile Sanjiv Bajaj Managing Director Kevin DSa CFO and President Business development Ranjit Gupta President (Insurance) S. Sreenivasan President (Finance) V. Rajagopalan President (Legal) Sonal R Tiwari Company secretarial assistant OFF SHORE POLICIES PERSONAL BENEFITS ?Leave ?Onsite return leave policy ?Personal leave policy ?Loans for house rental deposit ?Home pc ?Telephone at residence ?Facilities to the associates TRAVEL RELATED ? planetary travel ?Domestic travel ?Conveyance reimbursement ?Car hire motion policy ?Relocation wages WORK PLACE BASIS ? functional hour ?Dress code ?Identity menu ?Business card ?Late/holiday working ?Work ethics ?Shift allowance OTHER POLICIES ?Reward and recognition ?Staff welfare allowance ?Associate referral ?Work ethics ?Higher education BAJAJ FINSERV LIMITED OFFERINGS Organisation Structure Performance Appraisal System at Bajaj Finserv Ltd PERFORMANCE MANAGEMENT APPRAISAL PROCEDURE PERFORMANCE APPRAISAL FOR ASSOCIATES OF HOD LEVEL PURPOSE To appraise the performance of all the associates at HOD level in BAJAJ FINSERV LIMITED PROCE DURE General Annual appraisal is done during the calendar month of April, every year for all the confirmed associates who are on the rolls as on 31st declination of the previous year. Distribution of Appraisal names for annual appraisal, the HR will distribute the appraisal forms to the CEO for further distribution to the bear on appraisers. Self- backing At the start of the appraisal process, every assessee will fill a self-documentation form and give it to the relate valuator. Appraisal by Assessor The Assessor will perform the assessment upon receiving the self Appraisal course of action from the assessee.The forms to be used for appraisal is as given in the table below Sl. NoTitle of the formUsed for Appraisal of 1Self Documentation formAll Associates at HOD Level 2Performance Appraisal Form(HOD)All Associates at HOD level word weting of Appraisal The Assessor will discuss the assessment results with the assessee. If the assessee consorts to the assessment, then the ass essee and the relate assessor will sign on the Performance Appraisal Form and the first assessor (CEO) will also give his final authorization.The appraisal form, terminated in all respects is received from the CEO. Follow-up of Appraisal The HOD (HR) will issue the rewrite hire/ promotion letters to the assesse based on the performance Appraisal form and discussions with the concerned first assessor. HR informs the revised allowance/ promotion details of an assessee to finance for processing the same by updating the Associate database. Appraisal Records the HOD (HR) will maintain the performance appraisal records in the personal file of each associate. PERFORMANCE APPRAISAL FOR ASSOCIATES BELOW HOD LEVELPURPOSE To appraise the performance of all the associates below HOD level in BAJAJ FINSERV LIMITED. PROCEDURE General Annual appraisal is done during the month of April, every year for all the confirmed associates who are on the rolls as on 31st December of the previous year. D istribution of Appraisal Forms For annual appraisal, the HR will distribute the appraisal forms to the HOD for further distribution to the concerned appraisers. Self-Documentation At the start of the appraisal process, every assessee will fill a self-documentation form and give it to the concerned Appraiser. Appraisal by Assessor the Appraiser first assessor) will perform the assessment upon receiving the self Appraisal Form from the assessee and forward the performance appraisal form to the subscriber (second assessor). The forms to be used for appraisal is as given in the table below Sl noTitle of the formUsed for appraisal of 1Self Documentation form technicalAll technical Associates below HOD Level 2Self Documentation form Non technicalAll non- technical Associates below HOD Level 3Performance Appraisal Form (PL/PM)All associates at designer and above level but below HOD Performance Appraisal Form (Team members)All Associates at Team member (Manager/asst manager) level 5Perfo rmance Appraisal Form (Non Technical)All Associates below HOD Level in non- technical Dept The level of the associate to be appraised in areas other than technical is as per the policy Guidelines . Appraisal by second Assessor The reviewer (second Assessor) will review the assessment upon receiving the performance appraisal form from the appraiser (first assessor). During annual appraisal, the first/ second assessor will give the performance rating based on joint assessment. Acceptance of Appraisal The appraiser (first assessor) will discuss the assessment results with the assessee. If the assessee contains to the assessment, then the assessee and the concerned appraiser (first assessor) will sign on the performance appraisal form and the form will be forwarded to the second assessor/ HOD for final authorization. In case of conflict, the appraisal form will be referred to the concerned reviewer (second assessor). The second assessor will be responsible for further action on the s ame.For all cases of conflict and where no second assessor exists, concerned HODs will act as the second assessor. The appraisal form, complete in all respects is received by HR form the respective head of the department. Follow-up of Appraisal The HOD (HR) will issue the revised salary/ promotion letters through reporting managers to the assesses based on the performance Appraisal form and discussions with the concerned head of the department. HR informs the revised salary/ promotion a detail of an assessee to finance for processing the same by updating the Associate database. Appraisal Records the HOD (HR) will maintain the performance appraisal records in the personal file of each associate. APPRAISAL FORMAT SELF DOCUMENT FORM The self-document form mainly includes all those contents, which are needed for the evaluation of performance appraisal. The employees through the online facility fill this document form. This includes the general information like the associate id, name, de signation, department, procedure/level, qualification, and date of joining, location, and relevant experience. This form also includes the assessee remarks that have evaluated the form. The various areas like the employees achievement, area where the employee have not performed up to the expectation, assessees strengths, areas of improvement are also included. These areas are evaluated both by the Assessee, Assessor 1 and Assessor 2. The training programs attend and which the employee would like to attend is also included. The career aspiration of the employee is also a part of the self-document form . GENERAL INSTRUCTIONS FORTECHNICAL ASSOCIATES The Self-documentation form should be complete in all respects. 1. What do you see as your major achievements for the period under review? . What Factor(s) enabled you in your achievement? 3. Constraints, which affected your overall performance. arguing your own efforts to exploit the opportunities and overcome the difficulties? (Include your strategies and tactics) 4. Your initiatives and contributions to the organization during the review period e. g. Cost savings, revenues, profits, technology enhancements, process improvements etc 5. Project related data for the periodic review, which includes name of the project, role played by you in each of the project and number of hours put in. 6.What have you gained from the training programmes you have attended and where you have applied the breeding? 7. Your key result areas for coterminous review period. One of the key result areas should be for self-development. GENERAL INSURANCE FOR NON TECHNICAL ASSOCIATES The Self-documentation form should be complete in all respects. I. What do you see as your major achievements for the period under review? II. What Factor(s) enabled you in your achievement? III. Constraints, which affected your overall performance. List your own efforts to exploit the opportunities and overcome the difficulties? Include your strategies and tac tics) IV. Your initiatives and contributions to the organization during the review period e. g. Cost savings, revenues, profits, technology enhancements, process improvements etc V. What have you gained from the training programmes you have attended and where you have applied the learning? VI. Your key result areas for next review period. One of the key result areas should be for self-development. CRITERIA OF APRRAISAL RELATED AREAS Task related areas Achievement of results Output of work Quality of work Quality system Conceptual skills Total perspective Integrated skillsProactive skills Analytical and Planning skills Human skills Leadership Ability to inspire and motivate Interpersonal blood address and cooperation Training and development of subordinates Communication Resolution of conflict Functional skills Job knowledge Planning and organizing Decision-making Personality attributes Openness Empathy and sensitivity Integrity (intellectual and moral) tractableness/Adaptability/ Positive outlook Perseverance Creativity/Innovativeness Capacity to withstand puree Discipline Dependability Loyalty and Commitment Self-confidence Appearance and Bearing. CHAPTER-4DATA ANALYSIS & INFERENCES discussion section -I Regarding Setting Goals 1. Project goals are different from functional goals a)powerfully bear b) harbor c) potently dis couple d) dis retard TABLE 2. 1 OptionsNo of respondentsWeightsTotal jibe powerfully give9218 Agree61161 powerfully differ7-2-14 Dis have got23-1-23 represent 2. 1 inferencebulk of the respondents opined that project goals and functional goals are one and the same with a mean of 0. 42. 2. If I can perform consistently it will see me in high position sooner than later a) strongly support b) accede c) strongly resist d) take issue TABLE 2. OptionsNo of respondentsweightsTotal level powerfully hold back22+244 Agree54+154 strongly dis give12-2-24 Dis outfit12-1-12 represent 2. 2 consequence majority of the respondents a re disciplineing that they can expect themselves in higher position if they perform consistently with a weight down average of 0. 62. 3. My job presents scope for using my innovating skills in making my Decisions a) Strongly tick b) agree c) strongly discord d) resist TABLE 2. 3 OptionsNo of respondentsweightsTotal gull Strongly agree22+244 Agree13+113 Strongly disaccord11-2-22 Disagree51-1-51 GRAPH 2. 3Inference majority of the respondents opined their job does not wake present scope for using their innovating skills in making decisions with a mean of 0. 16. 4. Percent of target matching with goals in 2008 09 a) 80%-100% b) 60%-80% c) 40%-60% d) 20%-40% TABLE 2. 4 OpinionNo of respondentsValue in percentage 80%-100%3333% 60%-80%2929% 40%-60%3131% 20%-40%77% GRAPH 2. 4 Inference 33% of respondents 80%-100%, 31% of respondents 40%-60%, 29% of respondents 60%-80% and 7% of respondents 20%-40%. The analysis shows that only few employees can meet their target on time.Section B About the role of superior 5. I dont falter to discuss any of my personal problems with my Superior a) Strongly agree b) agree c) strongly disaccord d) dissent TABLE 2. 5 OptionsNo of respondentsweightsTotal tote up Strongly agree14+228 Agree61+161 Strongly disagree5-2-10 Disagree20-1-20 GRAPH 2. 5 Inference mass of the respondents agree that they do not hesitate to discuss their personal problems with their superior with a weighted bring in of 0. 6. 6. My superior acknowledging and contributing to set the goals a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. Options No of respondentsweightsTotal earn Strongly agree9+218 Agree 77+177 Strongly disagree5-2-10 Disagree 9-1-9 GRAPH 2. 6 Inference absolute majority of the respondents agree that their superiors acknowledge and contribute to set their goals with a weighted average of 0. 76. 7. My immediate superior often motivates me a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 7 Optio ns No of respondentsweightsTotal score Strongly agree15+230 Agree 67+167 Strongly disagree6-2-12 Disagree 12-1-12 GRAPH 2. 7 Inference Most of the respondents agree that their immediate superior frequently otivates them with a mean of 0. 73. 8. I want my appraisal to be a) occult b) blossom forth TABLE 2. 8 OpinionNo of respondentsValue in percentage Confidential6666% Open3434% Total100100 GRAPH 2. 8 Inference 66% of employees desire that their Performance Appraisal must be confidential and remaining 34% accept it to be open. 9. My interpersonal aggroup relationship with peer, superiors and subordinates a) very reasoned b) good c) adequate d) inadequate TABLE 2. 9 OptionsNo of respondentsweightsTotal score Strongly agree29+258 Agree59+159 Strongly disagree12-2-24 Disagree0-10 GRAPH 2. 9 InferenceMajority of the respondents have a positive opinion towards the interpersonal team relationship with peer, superiors and sub- ordinates is good with a mean of 0. 93 . 10. I detect hig h and motivated when my superior appreciates my work a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 10 OptionsNo of respondentsweightsTotal score Strongly agree35+242 Agree57+162 Strongly disagree4-2-18 Disagree4-1-8 GRAPH 2. 10 Inference Majority of the respondents spirit proud and get motivated when their superior appreciates their work with weighted average of 1. 15. Section c feedback and evaluation 1. Iam open to the feedback given by the appraiser a) incessantly b) some clock c) rarely TABLE 2. 11 OpinionNo of respondentsValue in percentage Always6464% Some times3030% Rarely66% GRAPH 2. 11 Inference 64% of the respondents always, 30% of the respondents sometimes, 6% of the respondents rarely. Majority of the respondents are open to their feedback always. 12. Employee opinion about frequency of appraisal system a) Annually b) half-yearly c) quarterly TABLE 2. 12 OpinionNo of respondentsValue in percentage Annually2828% Half-yearly5858% Quarterly1414% GRA PH 2. 12 Inference 8% of the respondents half-yearly. 28% of the respondents annually, 14% of the respondents quarterly. The analyst gives a clear ikon that most of the associates like to get appraisal half-yearly. 13. Opinion on performance linked promotional policy a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 13 OptionsNo of respondentsweightsTotal score Strongly agree21+242 Agree62+162 Strongly disagree9-2-18 Disagree8-1-8 GRAPH 2. 13 Inference Majority of the respondents agree that the promotions are based on the rating derived from performance appraisal with weighted average of 0. 8. 14. The HRD department follows up the training needs Identified using appraisal earnestly a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 14 OptionsNo of respondentsweightsTotal score Strongly agree7+214 Agree21+121 Strongly disagree18-2-36 Disagree54-1 -54 GRAPH 2. 14 Inference Majority of the respondents are moderately agreed that the HRD dept follow s the training needs identify the appraisal with a mean of 0. 55. 15. According to my opinion the following system is useful for our organization a) Team appraisal b) 360 degree appraisal c) self appraisal TABLE 2. 15OpinionNo of respondentsValue in percentage Team appraisal2929% 360 degree appraisal3636% Self appraisal3535% GRAPH 2. 15 Inference 36% of respondents 360 degree appraisal, 35 % of the respondents self appraisal , 29% of the respondents team appraisal, majority of the respondents opined that the 360 degree appraisal is expenditurey for their organization. 16. Team work is considered as a factor in appraise employee performance a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 16 OptionsNo of respondentsweightsTotal score Strongly agree24+248 Agree58+158 Strongly disagree8-2-16 Disagree10-1 10 GRAPH 2. 16 Inference Most of the respondents agree that team work is considered as a factor in appraising their employee performance with a mean of 0. 8. 17. My opinion on present rating system a) very(prenominal) good b) good c) fair d) poor TABLE 2. 17 OptionsNo of respondentsWeightsTotal score Very good13339 Good562112 Fair18118 Poor13-1-13 GRAPH 2. 17 Inference Most of the respondents are opined that their present rating system is good with a weight age score of 1. 56 Section D organization effectiveness 18. At BFL the appraisal system provides for an open discussion between the Appraiser and appraise ) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 18 OptionsNo of respondentsweightsTotal score Strongly agree18+236 Agree67+167 Strongly disagree8-2-14 Disagree7-1 -7 GRAPH 2. 18 Inference Majority of the respondents are agree that at BFL the appraisal system provides for a open discussion between the appraiser and appraise with a mean of 0. 82. 19. The appraisal system at BFL given each appraise an idea of what is expected Of him next year a) Very rightful(a) b) true c) partly true d) not true TABLE 2. 19 OptionsN o of respondentsweightsTotal scoreVery true15345 True532106 Partly true22122 Not true10-1-10 GRAPH 2. 19 Inference Majority of the respondents opined that A. S at BFL given each appraise an idea of what is expected of him next year with a weighted average of 1. 63 20. Up to what extent do the higher authority action the Suggestions provide By employee a) All times b) some times c) no(prenominal) TABLE 2. 20 OpinionNo of respondentsValue in percentage All times1818 Some times6767 None1515 GRAPH 2. 20 Inference 67% of the respondents sometimes, 18% of the respondents all times, 15% of the respondents none.Majority of the respondents agreeing that the higher authority implement the suggestion provide by employee sometimes. 21. Management support to improve the job performance a) strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 21 OptionsNo of respondentsWeightsTotal score Strongly agree20+240 Agree67+167 Strongly disagree5-2-10 Disagree8-1 -8 GRAPH 2. 21 Inference Ma jority of the respondents are agree that the management supports to improve their job performance of employees with a mean of 0. 89. 22. Performance appraisal helps me to know my strengths and weakness after the Appraisal ) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 22 OptionsNo of respondentsweightsTotal score Strongly agree17+234 Agree61+161 Strongly disagree11-2-22 Disagree11-1 -11 GRAPH 2. 22 Inference Majority of the respondents opined performance appraisal helps to know their strengths and weakness after the appraisal with a mean of 0. 62. 23. The performance appraisal is based on the real records and facts but not on Impressions a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 23 OptionsNo of respondentsweightsTotal score Strongly agree14+228Agree66+166 Strongly disagree9-2-18 Disagree11-1-11 GRAPH 2. 23 Inference Most of the respondents agree that performance appraisal is based on the real records and facts but not an impressions wi th a weighted of 0. 65. 24. Iam paid worthy my contribution a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 24 OptionsNo of respondentsweightsTotal score Strongly agree10+220 Agree66+166 Strongly disagree13-2-26 Disagree11-1-11 GRAPH 2. 24 Inference Most of the respondents are moderately accepting they paid worth their contribution with a weighted average of 0. 49. CHAPTER-6Findings, Suggestions & Conclusion Findings 1 Majority of the respondents opined that project goals and functional goals are one and the same with a mean of 0. 42. 2. Majority of the respondents are agree that they can expect themselves in higher position if they perform consistently with a weighted average of 0. 62. 3. Majority of the respondents opined their job does not showing present scope for using their innovating skills in making decisions with a mean of 0. 16. 4. 33% of respondents 80%-100%, 31% of respondents 40%-60%, 29% of respondents 60%-80% and 7% of respondents 20%-40%.The an alysis shows that only few employees can meet their target on time. 5. Majority of the respondents agree that they do not hesitate to discuss their personal problems with their superior with a weighted score of 0. 6. 6. Majority of the respondents agree that their superiors acknowledge and contribute to set their goals with a weighted average of 0. 76. 7. Most of the respondents agree that their immediate superior frequently motivates them with a mean of 0. 73. 8. 66% of employees desire that their Performance Appraisal must be confidential and remaining 34% accept it to be open. . Majority of the respondents have a positive opinion towards the interpersonal team relationship with peer, superiors and sub- ordinates is good with a mean of 0. 93 . 10. Majority of the respondents feels proud and get motivated when their superior appreciates their work with weighted average of 1. 15. 11. 64% of the respondents always, 30% of the respondents sometimes, 6% of the respondents rarely. Major ity of the respondents are open to their feedback always. 12. 58% of the respondents half-yearly. 28% of the respondents annually, 14% of the respondents quarterly.The analyst gives a clear picture that most of the associates like to get appraisal half-yearly. 13. Majority of the respondents agree that the promotions are based on the rating derived from performance appraisal with weighted average of 0. 78. 14. Majority of the respondents are moderately agree that the HRD dept follows the training needs identify the appraisal with a mean of 0. 55. 15. 36% of respondents 360 degree appraisal, 35 % of the respondents self appraisal, 29% of the respondents team appraisal, majority of the respondents opined that the 360 degree appraisal is adapted for their organisation. 6. Most of the respondents agree that team work is considered as a factor in appraising their employee performance with a mean of 0. 8. 17. Most of the respondents are opined that their present rating system is good wit h a weight avg score of 1. 56 18. Majority of the respondents is agree that at BFL the appraisal system provides for an open discussion between the appraiser and appraise with a mean of 0. 82. 19. Majority of the respondents opined that A. S at BFL given each appraise an idea of what is expected of him next year with a weighted average of 1. 3. 20. 67% of the respondents sometimes, 18% of the respondents all times, 15% of the respondents none. Majority of the respondents agreeing that the higher authority implement the suggestion provide by employee sometimes. 21. Majority of the respondents are agreeing that the management supports to improve their job performance of employees with a mean of 0. 89. 22. Majority of the respondents opined performance appraisal helps to know their strengths and weakness after the appraisal with a mean of 0. 62. 23.Most of the respondents agree that performance appraisal is based on the real records and facts but not an impressions with a weighted of 0 . 65. 24. Most of the respondents are moderately accepting they paid worth their contribution with a weighted average of 0. 49. SUGGESTIONS 1. Implementation of forward-looking ideas in decision making may be encouraged by the management. 2. The management may design the performance linked promotions. 3. The involvement of HRD department may be considered by management in assessing the training needs of employees based performance appraisal system. 4.The superiors should be more approachable when the employees come to them with improvement technique. On the whole the Performance Appraisal system at Bajaj Finserv Limited is Satisfactory. There are few areas which need due attention. The rating must be based purely on the performance. CONCLUSION The conclusions that emerged from the study of Performance Appraisal System at Bajaj Finserv Limited are that the sampled associates prefer that some change should be brought down in the existing system. The associates feel that the best sour ce of motivation is encouragement by superiors.A 360-degree appraisal system has been recommended by some of the associates. Training needs to be identified based on the ratings and effective training programs must be conducted where in the associates can fulfill self development needs as well as organizational needs. LIMITATION OF THE STUDY ?Options expressed by the employee in the questionnaire may not be very genuine. ?What the associates actually feel may not be truly expressed and hence there is the conclusion wasted from them need not apply to the whole organization. Could reach to a limited number of documents of different insurance companies in regard to the management and other policies and resultant figures so as to identify the exact cause of their lock up in performance. ?Non-Proficiency in technical aspects of insurance companies might have hindered the best analysis of the findings. . Bibliography WEBSITES www. bajajfinserv. com www. answers. com www. performanceappr aisal. com www. google. com www. yahoo. com NEWSPAPERS AND MAGAZINE The Hindu personnel management Business right away ICFAI magazines BOOKS Personnel Management Edwin FlippoHuman Resources and Personnel Management-k. Ashwathappa Essential of Human Resource Management-P. SubbaRao Personnel Management-C. Memoria Performance Management and Coaching-Prem Chadda Appendices Questionnaire Section -I Regarding Setting Goals 1. Project goals are different from functional goals a)Strongly agree b) agree c) strongly disagree d) disagree 2. If I can perform consistently it will see me in higher position sooner than later a) Strongly agree b) agree c) strongly disagree d) disagree 3. My job presents scope for using my innovating skills in making my Decisions ) Strongly agree b) agree c) strongly disagree d) disagree 4. Percent of target matching with goals in 2007 08 a) 80%-100% b) 60%-80% c) 40%-60% d) 20%-40% Section-II About the role of Superior 5. I dont hesitate to discuss any of my p ersonal problems with my Superior a) Strongly agree b) agree c) strongly disagree d) disagree 6. My superior acknowledging and contributing to set the goals a) Strongly agree b) agree c) strongly disagree d) disagree 7. My immediate superior frequently motivates me a) Strongly agree b) agree c) strongly disagree d) disagree 8.I want my appraisal to be a) Confidential b) open 9. My interpersonal team relationship with peer, superiors and subordinates a) Very good b) good c) adequate d) inadequate 10. I feel proud and motivated when my superior appreciates my work a) Strongly agree b) agree c) strongly disagree d) disagree 11. Iam open to the feedback given by the appraiser a) Always b) sometimes c) rarely Section-III Regarding Feedback and Evaluation 11. Iam open to the feedback given by the appraiser a) Always b) sometimes c) rarely 12. Employee opinion about frequency of appraisal system ) Annually b) half-yearly c) quarterly 13. Opinion on performance linked promotional policy a) Strongly agree b) agree c) strongly disagree d) disagree 14. The HRD department follows up the training needs Identified using appraisal seriously a) Strongly agree b) agree c) strongly disagree 15. According to my opinion the following system is useful for our organization a) Team appraisal b) 360 degree appraisal c) self appraisal 16. Team work is considered as a factor in appraising employee performance a) Strongly agree b) agree c) strongly disagree d) disagree 17.My opinion on present rating system a) Very good b) good c) fair d) poor Section IV organization effectiveness 18. At BFL the appraisal system provides for an open discussion between the Appraiser and appraise a) Strongly agree b) agree c) strongly disagree d) disagree 19. The appraisal system at BFL given each appraise an idea of what is expected Of him next year a) Very true b) true c) partly true d) not true 20. Up to what extent do the higher authority implement the Suggestions provide By employee a) All times b) s ome times c) none 1. Management support to improve the job performance a) Strongly agree b) agree c) strongly disagree d) disagree .22. Performance appraisal helps me to know my strengths and weakness after the Appraisal a) Strongly agree b) agree c) strongly disagree d) disagree 23. The performance appraisal is based on the real records and facts but not on Impressions a) Strongly agree b) agree c) strongly disagree d) disagree 24. Iam paid worth my contribution a) Strongly agree b) agree c) strongly disagree d) disagree

Deception Point Page 55

A leviathan was rising from the water beside the iceberg, breaching the surface with an ominous hiss. Like some unreal sea monster, it came-sleek, black, and lethal, with water foaming around it. Tolland forced himself to blink his eyes. His dream cleared slightly. The beast was close, bumping up against the ice like a long shark butting a small boat. Massive, it towered before him, its skin shimmering and wet.As the hazy image went black, all that was left were the sounds. Metal on metal. Teeth gnashing at the ice. Coming closer. Dragging bodies away.RachelTolland felt himself being grabbed roughly.And then everything went blank.64Gabrielle Ashe was at a full jog when she entered the third-floor production room of ABC News. change surface so, she was moving slower than everyone else in the room. The intensity in production was at a fever pitch twenty-four hours a day, but at the moment the cubicle grid in front of her looked like the song exchange on speed. Wild-eyed editors s creamed to one another over the excel of their compartments, fax-waving reporters darted from cubicle to cubicle comparing notes, and frantic interns inhaled Snickers and Mountain Dew between errands.Gabrielle had adopt to ABC to see Yolanda Cole.Usually Yolanda could be found in productions high-rent district-the glass-walled undercover offices reserved for the decision makers who actually required some quiet to think. Tonight, however, Yolanda was step up on the floor, in the thick of it. When she saw Gabrielle, she let bug out her vulgar shriek of exuberance.Gabs Yolanda was wearing a batik body-wrap and tortoiseshell glasses. As always, some(prenominal) pounds of garish costume jewelry were draped off her like tinsel. Yolanda waddled over, waving. embraceYolanda Cole had been a content editor with ABC News in Washington for sixteen years. A freckle-faced Pole, Yolanda was a sea dog, balding cleaning lady whom everyone dear called Mother. Her matronly presence and good humor disguised a street-savvy inhuman treatment for getting the story. Gabrielle had met Yolanda at a Women in Politics mentoring seminar shed attended soon after her arrival in Washington. Theyd chatted active Gabrielles background, the challenges of being a woman in D.C., and finally about Elvis Presley-a passion they were surprised to view they shared. Yolanda had taken Gabrielle under her wing and helped her make connections. Gabrielle still stopped by every month or so to say hello.Gabrielle gave her a medium-large hug, Yolandas enthusiasm already lifting her spirits.Yolanda stepped back and looked Gabrielle over. You look like you aged a hundred years, girl What happened to you?Gabrielle lowered her voice. Im in trouble, Yolanda.Thats not the word on the street. Sounds like your man is on the rise.Is there some place we suffer talk in private?Bad timing, honey. The President is holding a shove conference in about half an hour, and we still havent a clue what its all ab out. Ive got to line up expert commentary, and Im flying blind.I know what the press conference is about.Yolanda lowered her glasses, looking skeptical. Gabrielle, our correspondent indoors the livid base is in the dark on this one. You say sextons suit has advance knowledge?No, Im saying I have advance knowledge. let up me five minutes. Ill attest you everything.Yolanda glanced down at the red White House envelope in Gabrielles hand. Thats a White House internal. Whered you get that?In a private clashing with Marjorie tench this afternoon.Yolanda stared a long moment. practise me.Inside the privacy of Yolandas glass-walled cubicle, Gabrielle confided in her trusted friend, confessing to a one-night affair with sexton and the fact that Tench had photographic evidence.Yolanda smiled broadly and shook her head laughing. ostensibly she had been in Washington journalism so long that nothing floor her. Oh, Gabs, I had a hunch you and sexton had probably hooked up. not surpri sing. Hes got a reputation, and youre a pretty girl. Too problematic about the photos. I wouldnt worry about it, though.Dont worry about it?Gabrielle explained that Tench had accused Sexton of taking illegal bribes from space companies and that Gabrielle had scarcely overheard a secret SFF meeting confirming that fact Again Yolandas expression conveyed little surprise or concern-until Gabrielle told her what she was thinking of doing about it.Yolanda now looked troubled. Gabrielle, if you want to hand over a legal document saying you slept with a U.S. senator and stood by while he lied about it, thats your business. But Im telling you, its a very bad move for you. You need to think long and hard about what it could take to be for you.Youre not listening. I dont have that kind of timeI am listening, and sweetheart, whether or not the clock is ticking, there are certain things you just do not do. You do not sell out a U.S. senator in a sex scandal. Its suicide. Im telling you, girl , if you take down a presidential candidate, you better get in your car and drive as far from D.C. as possible. Youll be a marked woman. A mass of people spend a lot of money to put candidates at the top. Theres big finances and antecedent at stake here-the kind of power people kill for.Gabrielle fell silent now.Personally, Yolanda said, I think Tench was leaning on you in hopes youd panic and do something dumb-like bail out and confess to the affair. Yolanda pointed to the red envelope in Gabrielles hands. Those shots of you and Sexton dont mean squat unless you or Sexton admit theyre accurate. The White House knows if they leak those photos, Sexton will just claim theyre phony and throw them back in the presidents face.I thought of that, but still the campaign finance graft issue is-Honey, think about it. If the White House hasnt gone habitual however with bribery allegations, they probably dont intend to. The President is pretty wicked about no negative campaigning. My gues s is he decided to tho an aerospace industry scandal and sent Tench after you with a four flush in hopes he might scare you out of hiding on the sex thing. Make you stab your candidate in the back.Gabrielle considered it. Yolanda was making sense, and yet something still felt odd. Gabrielle pointed through the glass at the bustling newsworthiness room. Yolanda, you guys are gearing up for a big presidential press conference. If the President is not going public about bribery or sex, whats it all about?Yolanda looked stunned. Hold on. You think this press conference is about you and Sexton?Or the bribery. Or both. Tench told me I had until eight this evening to sign a confession or else the President was going to announce-Yolandas joke shook the entire glass cubicle. Oh please Wait Youre killing meGabrielle was in no mood for joking. WhatGabs, listen, Yolanda managed, between laughs, trust me on this. Ive been dealing with the White House for sixteen years, and theres no way Zach Herney has called together the global media to tell them he suspects Senator Sexton is accepting shady campaign financing or sleeping with you. Thats the kind of information you leak. Presidents dont gain popularity by interrupting regularly schedule programming to bitch and moan about sex or say infractions of cloudy campaign finance laws.Cloudy? Gabrielle snapped. Flat out change your decision on a space bill for millions in ad money is hardly a cloudy issueAre you original thats what he is doing? Yolandas tone hardened now. Are you sure enough to downfall your skirt on national TV? Think about it. It takes a lot of alliances to get anything done these days, and campaign finance is complex stuff. perhaps Sextons meeting was perfectly legal.

The Macroeconomic Perspectives of David Ricardo, Karl Marx

The Macroeconomic Perspectives of David Ricardo, Karl Marx, and earth-closet Stuart submarine ECON 350 19 nary(prenominal)ember 2012 overcharge The author surveys tercet influential economists of the immaculate eraRicardo, Marx, and legerdemain Stuart Milland introduces the reader to their Macroeconomic views ground on both(prenominal) of their more fully grown Macroeconomic theories. David Ricardo David Ricardo was a Classical Economist who lived from 1772 to 1823.In his professional life he wore legion(predicate) hats he was a businessman, a financer, a speculator, and a element of parliament. But what he is closely remembered for is the role that he played in the evolution of economic theory, alongside of such opposite greats as John Stuart Mill and Thomas Malthus, among others. In examining the economic theories which he espoused it is interesting to determine the part that his above-mentioned professions played in influencing his positions.Through his experience as a businessman was undoubtedly able to gain insights into the whole works of industry through and through his experiences as a financer and a speculator he gleaned invaluable insights into the workings of the financial system and through his experiences as a member of Parliament he no doubt acquired insights into the workings of government and politics that does very lots to add credibility to many of his economic expostulations. Although he worked diligently in the handle of both Macro- and Micro- economic science we will be emphasising here to begin with on some of his more distinguishing Macroeconomic contri saveions.The atomic number 82s within this field of political economy which we will be focusing on in particular be The legality of Comparative Advantage, Comparative Statics, International Money Movement, and Deficit Spending. The headliner which is arguably the most important and enduring contribution that David Ricardo ever do to the field of Economics is The rectitude of Comparative Advantage, besides cognise as The Law of Comparative address. This was a principal that was originally developed by ten Smith in his renowned work entitled An interrogative into the Nature and Causes of the Wealth of Nations. However, although Adam Smith premiere developed this principal it was David Ricardo who refined it and thus he is deserving of credit for his part in the formation of this economic principal. The Law of Comparative Advantage was root mentioned by Ricardo in his work entitled On the Principals of Political Economy and Taxation. It is based in specialization. and is a law which we see operating all rough us in present condemnations. Basically this law takes one of Adam Smiths observationsthat specialized units within a manufacturing process leads to change magnitude efficiencyand applies it on an international scale.Adam Smiths observation was that when manufacturing a particular type of item, if each worker present were to work on an item from start to finish they would be inefficient and slow and would non be able to produce nearly as much of the items as would a factory of workers who were separated into specialized units, each unit having the right of completing one of the processes necessary for manufacturing the particular item. Ricardo took this one step hike up and applied it on a macro level.He noned that different countries, for versatile reasons, have specific goods that they are particularly adept at producing. He further noted that if countries had to provide for all of their needs internally and then they would be unable to focus their attention on the things that they did particularly rise up. On the other hand, if each country were able to focus on producing the things that they did well then they could produce exponentially more of them and could trade amongst each other for the things that they needed but did not produce internally.Also, he took the Opportunity Cost into accoun t and noted that even if one country did everything better than other it would still be practical for the lesser country to manufacture items for the greater country since the greater country would see the highest returns if they focused their meter, money, and energy on the things that they did particularly well. This was actually quite a big deal during Ricardos since Protectionist policies were hindering free trade, which Ricardo was a advocate of as can be seen from his Law of Comparative Advantage.One of Ricardos first interactions in the economic duologue of his time was based around the Quantity Theory of Money. At the time in that respect was something going on in Britain that would come to be known as the Bullion Controversy. Basically, as a expiry of a potential war the British government temporarily suspended the agreement of the Bank of England to convert its notes into gold. During this time agricultural prices rose (which some raft attributes to poor harvests) and gold prices went up. It is on this second point that Ricardo chimed in. Ricardo argued that the rise in gold prices was actually the result of inflation. accord to him, since the bank wasnt obligated to transfer their notes for gold they were printing more notes than they had gold to back them. This flood of currency, Ricardo said, was creating an overplus supply which was devaluing the currency and thus causing inflation (Laidler, p. 12). Karl Marx Karl Marx is probably beaver known for the work that he co-authored with Fredrick Engels entitled The Communist Manifesto and also for his work entitled Capital. He is also arguably one of the most well-known of the Classical Economists, or of any group of economists for that matter.In addition to universe an economist he is also renowned for his work in the fields of philosophy, sociology, history, and journalism. Karl Marx was a staunch kindist and the vast majority of his contributions to the field of economics r uprised aro und a singular event that he believed would inevitably occur sometime in the future and would bring about the regress of Capitalism, replacing it instead with a Socialist inn that would lastly evolve through natural means into a Communist society. Marx saw society as segregated units of distinct classes.In his mind there was a continual struggle going on between these classes as a cypher result of one class having dominance over the other. The two classes that he was particularly concerned with were the parturiency and the middle class. The Bourgeoisie were representative of the wealthy Capitaliststhis include factory owners, entrepreneurs, and the like. In other words the Bourgeoisie was composed of those individuals who were able to create great wealth for themselves as a direct result of the Capitalist system. Aristocracy and the like were not included as among the Bourgeoisie.The childbed on the other hand were those individuals who worked in the factories, et cetera, of the Bourgeoisie. These were the blue collar workers of their time and the lower class members of society. In Marxs opinion the Bourgeoisie had taken advantage of the Proletariat by making themselves wealthy off of the fag out of this oppressed class. Furthermore Marx felt that the base nature of the work that the Proletariat was given to do was stifling. Last and worst of all Marx felt that these workers were not being fairly compensated for their work.What we now call Recessions and Depressions Marx referred to as Crises. He felt that these Crises were the direct result of disproportionalities in the Law of Supply and Demand. According to Marx the amounts of items supplied to markets and the amounts demanded were in a constant secernate of tension because they were always seeking to achieve equilibrium but could never quite do so. Since this oft led to more of an item being supplied than was demanded by the market, the market became flood and the items price would drop signif icantly.Businesses in their current state could not survive off of these minimal returns, and workers ultimately suffered as a result. Marx believed that workers were not paid adequately during good times to compensate for these Crises, whereas the Bourgeoisie ultimately became wealthy despite these Crises. Marx did not blame the Bourgeoisie but instead saw them merely as a harvest-festival of their environment. He did, and, feel that this environment which ran according to the tenets of Capitalism was inherently flawed.Marx believed that the Proletariat would eventually revolt against this flawed system and would take manufacturing into their own hands. At first a Socialist form of government would be set up and would be run by what Marx referred as the Dictatorship of the Proletariat. This would only be a temporary institution however and it would eventually become out of date and dissolve naturally and from that time on Communism would be the fix system that would guide the economy, government, and society as a whole.John Stuart Mill John Stuart Mill was born in England and lived between 1806 and 1873. He was both an cultivated philosopher and economist and is recognized as one of the greatest thinkers of his time. His father, James Mill, was a respected philosopher, economist, and political theorist. James Mill was also a present-day(a) and close friend of David Ricardo and was influential in the Classical Economics effort of his time.Because of James Mills intellectual circle of friends, and also because of his exact tutelage, John Stuart Mill was, from a very young age, privy to much of the political, philosophical, and economic discussions and arguments of his day. Because of the influence of his father and also because of his close acquaintance with David Ricardo and others in his fathers circle, he would continue to hold to and defend many of their opinions and precepts throughout the course of his life. John Stuart Mill was also a coeval of Karl Marx although Mill was apparently unaware of who Marx was.Although Mill wrote volumes of literature on the proceeds of economics during the course of his spirit, there is one particular topic that seems to be especially relevant in shaping an chthonicstanding of his macroeconomic perspective and so it is on this topic that we will focus our attention. Thomas Stowell tells us in his book entitled On Classical Economics that the three major controversies in economics during John Stuart Mills lifetime were disputes over Says Law, the Malthusian overpopulation theory, and the theory of value (p. 134). The first is a macroeconomic concern whereas the second and third fall under the banner of microeconomics. Therefore it is on this topic that we will now focus our attention Says Law, also known as the Law of Market, was founded on the presumption that money is used solely as a means of initiating transactions and that in the end transactions ultimately represent of one commodity being traded for another. Say believed that producers are eager to choke unloosen of their products because of price fluctuation which could cause their devaluation and because an unsold product produces no return on investment.Say also believed that producers were equally eager to get rid of the money they acquired through transactions because moneys value fluctuates as well. In order to get rid of money it must be traded for some product or service and thus through this motorcycle economic growth is created. Say believed that gluts occurred when too much of one product was created, thus flooding the market. This, the law states leads to a loss of revenue for the producer, who in turn consumes less due to this loss of revenue.Because of this lowered consumption there is an overall reduction in demand in the economy as a whole. This reduced demand leads to unemployment and recessionary conditions. It should be noted however that these consequences ultimately result not from an i nadequate supply of money with which to leveraging goods, but from markets supplying more of one particular product than is sought after and not enough of others. John Stuart mill was a huge proponent of Says Law although he did appear to alter some parts of it slightly throughout the course of his life. ReferencesBalassa, Bela A. (1959). John Stuart Mill and the Law of Markets. The Quarterly Journal of Economics, Vol. 73, No. 2. Balassa, Bela A. (1959). Karl Marx and John Stuart Mill. Weltwirtschaftliches Archiv. Bordo, Michael D. Schwartz, Anna J. (1984). A Retrospective on the Classical Gold Standard, 1821-1931. University of Chicago Press. Chicago, IL. Brandis, Royall. (1985). Marx or Keynes? Marx and Keynes. Journal of Economic Issues. Vol. 19, No. 3. Campbell, Martha. (1997). Marx and Keynes on Money. International Journal of Political Economy. Vol. 27, No. 3 Davis,Timothy. 2005). Ricardos Macroeconomics Money, Trade Cycles, and Growth. Cambridge University Press. New York, NY. Laidler, David. (2000). Highlights of The Bullionist Controversy. Retrieved from http//economics. uwo. ca/faculty/laidler/workingpapers/highlightsof. pdf. Lutz, Mark A. (1979). The Limitations of Karl Marxs Social Economics. Review of Social Economy. Vol. 37, No. 3. Sowell, Thomas. (1974). Classical Economics Reconsidered. Princeton University Press. Princeton, NJ. Sowell,Thomas. (2006). On Classical Economics. Yale University Press. New Haven, Conn.