Study On The Importance Of Green Banking Finance Essay

Study On The Importance Of Green Banking Finance Essay Introduction In our life money has always play an important and crucial role in almost in every aspect. And in this, bank is an institution which mainly deals with money. According to Freixas and Rocher bank is an institution whose current operations consists in granting loans and receiving deposits from the publics (1999, p1). Till date, the banking industry has improvised his products and facilities to provide it to their customer. No one has imagined that 100 yrs ago, that bank will play a crucial role in 21th century. Now banks are influencing the development and the growth of the economy in the way of both quality and quantity. The major source of financing investment of banking sector is from commercial projects which are important for economic growth. Hence, for promoting socially responsible investment and environmentally sustainability banks play a vital role in it. As we know banks themselves is not a polluters but its having relationships with some companies and institution which are p olluter or could be in future. Banks are environmental friendly as in term of pollution and emission in its sector. In banking sector the internal environment impact is very low and clean as in the usage of water, energy and paper. The impact is not related with banks activities but with it customers activities. Therefore, the impact of external activity is enormous which is difficult to estimate. And environmental management is like a risk management it increases the value of an institution and lowers down the loss ratio. Thus banks should encourage prudent lending and environmentally responsible investment to the institution. Further those industries which are become green and those which are on its way to get green they have to fulfil the priority to lending by the banks. This process of finance can be called as Green Banking to restore the natural environment banks makes the industries to grow green. The concept of green banking will be equally beneficial to the industries institution banks and economy. Internationally, banks and institutional investor for environmentally responsible/ socially responsible investment projects having their growing concern about it rate (Earth submit, 1992). Financial institution and bank can effectively achieve this goal because they have played an intermediary role in an economy and to the number of investors. Now-a-day environmental issue is not only a concern of the government and direct polluters, it also a concern of those institutions which are stake holders and partners of their business. So the bank and other financial institution can provide a vital support in maintain the environmental protection and sustaining the economic development. The bank operate on long term return on their investment and credit, due to the environmental liability there is risk of non -payment and in the reduction of value in credit extension and investment. So it will get more important for the banking sector to follow certain safe procedure for the environment evaluation of the projects before providing them funds. There are some studies has been shown in the positive correlation between financial performance and environmental performance (Hamilton, 1995; Hart, 1995). Thus it will get more important for the banks and other financial institution in the context of environment performance whether to invest in companies or advise client to do so. The environmental management has to follow different rule formation for conservation of the resources like clean water act, toxic substance control act, clean air act. All these are environmental liability for banking institution in a recent (Bindhu.N.Nayak, 2008). Adopting all these principle will be beneficial for the banking sector and to the financial institution as to consumers and also their stake holder. On international scale various strategies has been adopt to sustain development. The multilateral financial and development institution and international consortium has been building up the standard of environment and strategies to estimate the investment projects. The main aim of this paper is to discuss the issue of the banking sustainability and how it can play a role for the sustainable development and growth for the economy, particularly in the India aspect. Methodology The most important and difficult part of the project is methodology. As in this project the research method which is been use to examine the importance of the green banking in economy to sustain the environment with the help of it. There are certain sources to collect a data for the project such as working papers, academic journals, and relevant books. The research has been done by getting secondary data from genuine source such as articles, journals which are issued by genuine newspaper agencies of a specific country. The project is based on the secondary data analysis as getting primary data is difficult because whatever the policies is taking consideration in bank is taken by the top management authorities and it is hard to have interaction with them in personally. Research Methodology Research is to be done to figure out the proper knowledge of the subject in a systematic way. It is analytical and hard working process to figure out the about the fact and theory. The term methodology refers the theory of how research should be done (Saunders, 2009). According to Welman and Kruger (2001) there are various techniques and methods in order to get effectively and scientifically correct information of the subject by applying objective method. Systematically Review The research of this subject is done on the basis of systematic way. And there is already material has been published by a genuine source on this particular subject. As it is said by Gronhaugh and Ghauri (2005) that the word systematic suggest research is based on logical relationship and not just belief. As method of research is consist of explanation of the data collection and the outcome of the facts from the study and finding the limitation of the subject. As Tranfield (2003) stated that traditional reviews are generally lack of information and some time the source of information was not authentic. Therefore, traditional review should be done very carefully and selective which include the evidence which is supported by the genuine authors summaries (Critical Appraisal Skill Programme, 2005). Quantitative and Qualitative Investigation of Methods: It is necessary, first to understand the difference between qualitative and quantitative investigation methods. Generating or using numerical data is called Quantitative data technique and generating of non numerical data is called qualitative technique. If both techniques are using to approach the data then its called mixed method (Saunders, 2009). According to Smith (1981) every method has its own weakness and strength. And as result may be differ as the use if the different technique and approaches by the researcher. Usually researcher goes for the qualitative approaches which consist of analysation of words through illustration and non- standardised frame work and comparison. As the project is an illustrative research and the objective is to understand the importance of the Green Banking in the India. Corbun and Strass (1990) has explained that the use of qualitative method is to understand the aspect of the subject. And it can be useful in understanding more about the subject which is already known. Quantitative methods can be use to gain insights approach to the issue which is sometime not possible to get the results from the quantitative method. Therefore, to describe key issues researcher prefer to use the quantitative methods especially in the case of transfusion service management which is not possible to get through from the quantitative method. The classical structure of literature reviewing according to the researcher is like; Study of basic level of banks and its importance in the economy. And research has been done on the Green Banking at international level. Then at what level Green banks are taking initiative in the Indian economy. Accumulation of the Green banking policy and more narrows down to the work to get the objective of research. To get the transparent literature review, researcher have to describe all the approaches which make to search the selected literature, key words, outline of the choice and data base (Tranfield, 2003). To analysis the literature several journals, books, articles and electronic base data were use. Source of Tool: To get the relevant material Ministry of Commerce and Industry, India site have been re-examine which is an official website of India. There are other search engine has been used such as Google scholar and University Library site has been used to gather the resources but university Library site is come to notice that there are very less journal are available regarding Green Banking. Analysis of Secondary Data: According to Haakim (2000) secondary data from different sources can also be combined if they have the same geographical basis, to form area based data sets to get the answer of the research question secondary data can be use as in getting the objectives which is aimed for the ample assembly. Genuineness of the facts is tested by the reputed database which is publicised by the authentic resource. The aim of this study is to analysis the secondary data methods while investigating the facts and do the international comparisons and to understand the potential outcome that why Green Banking is very important in the developing countries and how they are playing a crucial role in sustaining the development of the economy like India. Aim and objectives of research: The purpose is to learn what strategies leaders in emerging market growth have adopted to attract FDI and how financial services play major role. The purpose is to develop a model for both categories and test the model empirically to substantiate the hypotheses. What are the lessons that laggards can learn from these leaders? The study intends to show a path to the PIN countries and other markets that will emerge in next two decades. Therefore the objectives of this research are as follows: To illustrate the benefits and shortcomings of Foreign Direct Investments in developing countries like India and China. To understand the impact of FDI on gross domestic product of these emerging countries. To examine current situation these economies and analyse the future possibilities of growth. Limitations of the study: This is systematic review based study of the available literature in the area of Green Banking. Genuiness is the touchstone of Analysising the literature. Whereas, there are general and accurately presented material is available about Green Banking in European countries but very few literature was found related to the Green Banking in India. And even thought their not much significant data or literature has been get from the Google scholar and University Library or any other search engine regarding Green Banking in India. Whereas, sincere efforts has been done by the researchers to get the authentic data from the genuine source and the judgement has been done on the secondary the data. Research of the Credibility: There is certain research tool to examine the credibility like Generalisability, Reliability, and validity. Dochartaigh (2002) described it as,assessing the authority or reputation of the source. Validity: In the case of qualitative research the degree of validity is to be tested. To get the correct result, test of validity is important. Validity is concerned with whether the findings are really about what they appear to be about, is the relationship between two variables a causal relationship.(Saunders, 2009). This is a valid research because it is based on systematic data analysis from the genuine resource and on the basis of this research the question has been answered. Reliability: Reliability define by Joppe (2000) it is a consistent of a result which represent the accurate number of data is presented over the time and the study of result reproduced the same methodology then it can be said that research is reliable. If the research contains the systematic review of the available secondary data of same objective with a same topic and same results then the research of study is reliable (Golafshani, 2003). Triangulation: The term triangulation means that the collection of different data technique, which ensure about what you are thinking that they are telling you (Saunders, 2009). According to Mathison (1998) it is crucial for the methodological issue in quantitative and naturalistic approaches to establish valid proposition and get control on bias because alternative epistemology is incompatible with the scientific traditional techniques. But this research is based on the secondary data analysis not from the primary sources. So, this method is not applicable for this research. Consideration of Ethical: This research is completely based on the secondary data review and not on the primary collection method like interviewing or questionnaires etc. So, the approval of ethical and confidentiality is no use in the research. The collection of data is based on books, articles, journals and reports. The research material which has been used is properly referenced and checking the authenticity of the resource to avoid the plagiarism. Importance of green banking Until now, the business operation of financial and banking institution were not acknowledged towards the environmental concern. Generally, the environmentally degrading activities of banking sectors is like obstructing or getting in the way of business affair of their client. Nevertheless, it will be risk to their business if they were dealing with the environment. Although, there are indirect cost to the banks as they are not directly affected the by the environmental degradation. It is due to the firm environmental regulation which is enforced by the other countries authorities. In the case of failure, the industries have to face the consequence which leads banks to its closure. For example, in 1980 comprehensive environmental Response, Compensation and Liability Act (CERCLA). There was a huge loss for the bank in 1980s in U.S. The bank was directly responsible for the environmental pollution of their clients activities and made them to pay the remediation cost. Thats why banks in U.S are more concern about the environment while lending the fund to their clients. In European countries banks held directly responsible for any misdeed has been done by their clients. Therefore banks and other financial institution have to engage with their stakeholder on social and environmental policy. So that their clients investment can be evaluate. This would make clients to build up a proper management for social and environmental policy issue regarding investment. The green banking is important for both economy and the bank, by escaping from the risk which is involved in the financial sector. Legal Risk: there is a relevant environmental legislation risk for banks if they do not comply with it. More particularly, there is more lender liability risk for paying up the claims and the cost of damages for pollution causing to the asset or depraved. Banks can be helped by the environmental management by enhancing it image and reduce the cost and risk and taking advantage of revenue opportunity. Reputation Risk: As now there is more awareness about the safety of environment and banks may loosen up their reputation if they involve with the big project, which are indulging in the environmental destruction. Environmental management system have a few cases as in good result in cost saving and increase in the value of the bond (Heim, G et al, 2005). Sometimes it has lower risk, great environmental stewardship and increase in profit. Reputation risk is involved in both ethically and economically. By adopting the green banking strategies bank can deal with these risks. There are two components are involved in green banking strategies (1) innovative environmentally oriented financial products (2) managing risk environment (IFC, 2007). Banks have to make a proper arrangement for environmental management system. So that risk can be evaluate which involved in the investment project. The risk can be adopted by recommending the distinctive techniques and rates of interest. From high risk project banks can withdraw fund from it. Creating services and financial products is a second component of green bank which support the environmental benefit with commercial benefit. All these comes in bio-diversity conservation, investment in renewable projects energy, investment in technologies, energy efficiency, environmental investments in mutual funds and bonds (WBCSD, 1997). There should be protective polices for the liability guideline on development and environmental risk. The financial and banking institution should prepare a report of every project they invest and finance (Jeucken, 2001). For projects seeking finance they can have an environmental assessment. For each project bank can outcome with an environmental hazard management procedure and follow it. The big financial institution like Japan bank for international cooperation (JBIC) and International financial corporation (IFC) have consolidated with environmental management in their business strategies. All projects are taking consideration into terms of environmental impact in an account factors like, the substance scale and sector of the project, uncertainty and the degree of environmental impact proposed project site. Even World Banks are lending loan to the beneficiary country on the certain level of commitment that they adopt the environmental protection measures. Over time there is a change in the environmental norms to follow the agreement. And it is considerably bit costly to follow up the standard and environmental norms. If the economic benefits can be consider in the terms of productivity health care and insurance then the cost is not much higher than the benefit. In the study its confirms that 14 billion pound had been caused in the medical expenses and 200 million working days had been loss due to air pollution which resulting in losses in productivity to the European union (Stavros Dimas, 2005). Technologies which are environmental friendly practically decrease the financial burden and also building up the economic sense for the industries. Due to the more environmental awareness among the consumer in all over the world the pollutant industries were facing resistance by the consumer which often cause them massive boycott and close down of the industries and the cost is adding enormously. The concerns about environment are articulated into the international policy trade and act as a blockade for ESGs (Environmentally Sensitive Goods). So affirming modes of production and sustainable technologies are now not taking as a financial burden. Although, it providing high profits and new opportunities for the business. Green banking has neutralized the risk, save the cost and up brings the reputation of banks. So it serves both the commercial objective of the bank as well as its social responsibility. Green banking solves the problem faced by the environmental regulation and enforcements authorities related to size and location of the polluting unit. The authorities have practical limitations on enforcing environment standard on small-scale industries and also industries located in far off places. International initiative of green banking At international level there are many banks who have taken initiative to get their branch green. There is one bank name PNC Financial Group Inc which is based in Pittsburgh has certified as a green bank. PNC green bank does not stop with getting eco-friendly construction. They include there parent company business model in developing their products, marketing and giving training to their employee. PNC is one of the banks who have taken the green concept so seriously that it evolved the idea into the brand of the company. PNC has started its construction of getting green bank in 1998. They had selected 17 different sites for their location and make sure that it is easily accessible through transportation. Then they had planned to build their building accordingly to U.S Green Building Council (USGBC) and Leader in Energy and Environmental Design certification process. In 2000 the building was completed and it was the largest LEED green certified building in the world. Some of the new features have been included into the building structure like the lobby of the building is eco with a green roof. It was stated by Gary Saulson the director of the corporate real estate that you can walk into the building lobby on 90-degree humid day without any problem because there is a three- story water wall in the space which work as coolant radiant which maintain the inner temperature of the bu ilding. Because of this innovative method PNC has set a new standard of development. And it has been appreciated by the mayor of the city for setting up the standard of eco-friendly responsibility and quality development in the city. And in 2007 PNC Bank has secure 20th rank among the Best Green Company for America Award (Deb Stewart, 2008). Now PNC has more than 58 eco-friendly branches all across the state. And 41 branches has also obtained the Benchmark of Green Bank most of the branches has granted the LEED certification. As all of these branches has follow the eco-friendly process such as; Recycling: Near about 15 percent of furniture fabric and carpet is made of green material or recycle material for example Door and cabinetry are made of wheat board which process by the wheat product. Water and Energy Efficiency :- the usage of energy has been reduce by 50 percent because of the high-tech system installation in the building and maximum usage of the natural light and water usage was also reduce by 6200 gallon in year. Reduction in land waste: Wastage of construction material like steel, wood and cardboard is to be recycled. By doing this 150 ton per branch wastage has been reduce. Using of the pre-made panel for exterior has reduced the waste, while constructing the panels. To protect the ozone layer non- chlorofluorocarbon refrigerant are use for cooling the system (Deb Stewart, 2008). In 90s the United Nations environment programme has launched a program which is known as UNEP finance initiative (UNEPFI). Under this, near about 200 financial institutions of all around the world has taken the participation and signed the initiative statement to promote the environmental development (Jeucken, 2001). The main purpose is to merge the social and environmental dimension to the financial performance. According to the UNEPFI, the sustainable development is a basic thing for the business management. It supports for the elementary advance to the environmental management and offers reconciling environmental discussion into the asset management business operations and other decision of the banks (Earth Submit, 2002). In 1991 the IFCs environmental panel was established for receiving the environmental assessment project. ABN-Amro banks which is Netherlands based banks who has developed certain polices like reputation risk management (RRM) to recognise, manage the non- financia l and asses within their business strategies. Likely, the big international banks like Deutsche, HSBC, Standard Chartered and ABN-Amro banks has look and discuss at environmental problem under Kyoto protocol. Moreover, the government of Dutch has requested formally from the banks to achieve sustainable development. This agreement has been establish between banks and government in 1999. This environmental policy will improve the development of services and new financial products. The Rain Forest Action Network (RAN) and Earth (FOE) had challenged the industry with their campaign which highlighted the case in which commercial banks were bankrolling Disaster in 2000 in U.S. Bank Tract is a network which formed by the NGOs to promote the sustainable finance in the commercial sector in 2002. This coalition up comes with 6 principles which assisting in the protection of environment and justice by the bank. This is known as Collevecchio Declaration (Bibhu Prasad Nayak, 2008). These 6 principles are no- harm, commitments to sustainability, responsible sustainable market and transparency, accountability and governance. There are more than 200 institutions that signed up the declaration and asked the banks to integrate with these commitments into their business operation. The declaration states that Finance and Commerce has been at the centre of a historic detachment between the worlds natural resource base, production and consumption. As we reach the boundaries of ec ological boundaries of the ecological limit upon which all commerce relies, the financial sector should take its share of responsibility for reversing the effects this detachment has produced. To guideline the project banking institution have been constraint into common set of social and environmental policy for sustain the green finance. In Oct 2002 the group of small banks along with IFC had come with the proper general guideline and later in July 2003 they came up with a policy is known as Equator Principle. And other big commercial were also adopting this set of principles in their structure. And in July 2006 equator principle has been revised and updated. The used of the revised set of principle, the project coverage has been lowered by 10 million from 50 million dollar. Now 16 countries with 46 financial institutions were managing their business in more than 100 countries and they all have adopted the equator principle. The adoption of this principle in the business operation has become common standard for the project which integrated with social and environmental issue in business. (Bibhu Nayak, 2008; p10) The NGOs has received the activities of equator bank in a worldwide and it being proclaimed, when they came to know that it not commit to the equator principle. Sustainable Banking Award has been initiated by the Financial Times along with IFC in 2006. There are 151 financial institutions in which 104 institutions has made through to the final list of award in 2007. The ratio of bank apply was more than the previous year, it was about 100 percent more. The international initiative of banks operations are voluntary in nature and the basic thing is to up come of the common good for the enhancement of the ecosystem. In competitive market there is a short coming of a voluntary commitment. As an increase of the green money in the market, lender will stimulant to delay the social commitment and the commercial interest which will programme in the short run. If the green money is voluntary than it will be precondition demand for the green bank. According to the government policy the bank which is responsible for the breach of law of their clients will have to help in promoting green banking. Green Banking In India From last two decade, the growth rate of Indian development is very high. And this is because of the industrial sector that plays a curial role in the development of the India. However, controlling the environmental challenge has been occurred in the way of Indian industry which makes impact in their business i.e. emission of pollution by their clients. Although government of India is trying to solve this problem by adopting the environmental policies and comforting the industries to adopt this environmental technology. Fortuitously, India is a second fastest growing nation in the world in producing green house gases. Indias three main metropolitan cities like Chennai, Delhi and Mumbai are the worlds most busy and polluted cities. In India major polluted industries are paper and pulp, zinc steel and copper metallurgical industries, refine, tanneries, sugar, pesticides and insecticides, textile, fertilizers etc. The environmental management have to be taken care by the financial institution and banks, who are investing in the industries project. This can be done by improving the level of efficiency, quality of products and services. In this case banks and financial institution play an important role because these institutions are major source of finance to the industries. In India there are broadly two main categories for the environmental policies and regulation which is liability, law control and command regulation. The control and command regulation are ex an-te regulation which are assigned to prevent from the environmental polluting businesses. With the help of this policy lending institution will set up a specific standard for the industries, so that they have to follow the regulation and project will examine closely by the ministry of environment and forest authority and its up to these authority whether they give the permission or not. The liability law is like based on the analysis of past performance (ex post). In this impose will be made by the authorities on the industries by closing down or imposing fine on them etc. Although there is no such law in India which impose any fine on the bank; which are providing financial help to those client whose are responsible for creating damages to the environment. Once the legal regulation comes in th e frame work then the environmental standard will raise in India. And the industries which are responsible for polluting the environment will either have to shut down or have to invest money in the development equipment to meet the standards. And at international market industries will lose their competitiveness, which will directly affect the bank sector and economy of India. Thus it is crucial for the bank to protect them from getting into non- performing assets in coming days. Analysisation of these facts make banks to accept the concept of Green Banking. The institutions which are not capable to control the pollution now may be future polluters. And one day, the legislation will taken a strict decision against the polluters who are responsible for damaging the environment and may have to shut down their units. For e.g. in Delhi and Agra, almost 150 SSI units had to be shut down because of not following the standard. Now banks and financial institutions are taking consideration about these perspectives, if the industries were not performing the environmental standard. According to the pollution control status there are 17 different categories of institution where they are equal number of institution which are shut down or defaulted. When there is a shut down or a default of a project, bank has to face financial losses it is because of increase of the li ability and bad asset. Year Total Acceding^ Defaulting^^ Shut down 2001* 1551 1350 24 177 2002* 1551 1351 22 178 2003* 1551 13356 52 189 2004 2155 1877 53 225 2005 2455 1909 168 265 2006 2678 2044 297 335 Note: ^Competent to agree with the Standards, ^^ Not able to agree Standards. Source: * Annual Report 2005-2006 LOk Sabha ; Govt. Of India, Ministry of Forest and Environment; (sourced from www.indiastat.com) Now-a-days, awareness is spreading among the public regarding environmental pollution. And people are taking strict action against those industri

Essay on the Metamorphosis in Pride and Prejudice -- Pride and Prejudi

Metamorphosis in Pride and Prejudice   Ã‚   As the story develops in Jane Austen's novel, Pride and Prejudice, the reader is witness to a shift in attitude between the principle characters. The chapter in which Elizabeth Bennett's reactions to Mr. Darcy's letter are explored provides valuable insights into this metamorphosis.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The first description of Elizabeth's state upon perusing Fitzwilliam Darcy's revelatory missive is characteristic of Austen when relating heavy emotion: she doesn't. "Her feelings as she read were scarcely to be defined," she tells us (Austen 233). Of course, all this negation of representational skills is purely for dramatic effect, and Miss Austen goes on to provide a full account of every aspect of Elizabeth's emotional upheaval per her reading of the letter, but not, however, without using the device again in the second paragraph, in treating the subject of the truth about Mr. Wickham. Elizabeth's feelings are conveyed as having been "...yet more acutely painful and more difficult of definition." Said difficulty is indeed short lived, as the next sentence reads, "Astonishment, apprehension, and even horror, oppressed her" (Austen 233).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Wickham segment of the chapter, spanning pages 234, 235, and the better part of 236, is significant not so much in its development of Wickham's character, as in what it does to Elizabeth. After the aforementioned astonishment et. al., Elizabeth momentarily engages in denial ("This must be false! This cannot be! This is the grossest falsehood!" (Austen 233)) but eventually her intellectual faculties regain their footing and she settles down to a second "mortifying perusal of all that related to Wickham, and command[s] herself ... ... character about whom we can care, in the midst of a narrative which is not a chore to read. Works Cited Auerbach, Nina. "Waiting Together: Pride and Prejudice." Pride and Prejudice. By Jane Austen. Ed. Donald Gray. New York: Norton and Co., 1993. pp. 336-348. Austen, Jane. Pride and Prejudice. 1813. Ed. Donald Gray. New York: Norton and Co., 1993. Harding, D. W. "Regulated Hatred: An Aspect in the Work of Jane Austen." Pride and Prejudice. By Jane Austen. Ed. Donald Gray. New York: Norton and Co., 1993. pp. 291-295. Johnson, Claudia L. "Pride and Prejudice and the Pursuit of Happiness." Pride and Prejudice. By Jane Austen. Ed. Donald Gray. New York: Norton and Co., 1993. pp. 367-376. Mudrick, Marvin."Irony as Discovery in Pride and Prejudice." Pride and Prejudice. By Jane Austen. Ed. Donald Gray. New York: Norton and Co., 1993. pp. 295-303.

Reverse Logistics

REVERSE LOGISTICS SUPERVISED BY: ASSOCIATE PROFESSOR M. RAKOVSKA PREPARED BY: TATYANA BLAGOEVA FACULTY NUMBER: 10114004 Contents A Supply Chain Opportunity3 What is Reverse Logistics? 3 Case Examples4 Money is Hidden in Returns5 Reverse Logistics Completes the Supply Chain System6 Reverse Logistics and the Supply Chain Maturity Model11 Concluding Case Study Example13 The results were impressive:14 A Supply Chain Opportunity Most practitioners have their own understanding of the fundamental processes involved in an extended supply chain network.The novice will tell you it starts upstream with suppliers supplying suppliers, moves through manufacturing and production and goes downstream through distributors or direct to the business customers. An improvement effort starts within the four walls of a business by drawing a process map and working on product, information and financial flows to improve the key steps in the linkage that will save time, money and use of assets. The journeyman will go further and explain that a supply chain continues externally, until products and services have been delivered to the end consumer.System improvement involves order management, planning and distribution, inventory management and effective customer satisfaction. This counselor knows that supply chain is about bringing the key process steps to best practice and optimized conditions, while receiving high satisfaction ratings from the customers and consumers. The seasoned professional will shake his or her head and calmly explain that the journey is not ended until the products and services elivered have been accepted. If there is dissatisfaction with the results of the supply chain and something is returned, the processing continues. We stand with those who favor this extended enterprise view of supply chain, which results in the total satisfaction of the end consumer. There is a great opportunity in that sense, to focus on the generally forgotten or too often lower priority are a of attention given to finishing the job – going the last few feet in the linkage.When it comes to completing the end-to-end processing, companies should do two things: * Take the full view and understand the total cost of supply chain, which includes having and dealing with returns * Realize the opportunity that an analysis of the return part of the system offers in terms of finding and solving problems, better satisfying customers and consumers, and discovering a way to increase revenues What is Reverse Logistics?When considering any area of business as an opportunity for improvement, begin with having an understanding of just what you are trying to change. What is Reverse Logistics? The broader concept of  logistics  is described by The Council of Supply Chain Management Professionals (CSCMP) as:   The process of planning, implementing, and controlling the efficient, cost effective flow of raw materials, in-process inventory, finished goods and related information f rom the point of origin to the point of consumption for the purpose of conforming to customer requirements.Wikipedia defines the narrower concept we are considering as:  Reverse logistics is the logistics process of removing new or used products from their initial point in a supply chain, such as returns from consumers, over stocked inventory, or outdated merchandise and redistributing them using disposition management rules that will result in maximized value at the end of the item’s useful life. For our purposes, reverse logistics includes all the activities that are mentioned in the definition above, with the difference that reverse logistics encompasses all of these activities as they operate in reverse.Therefore, according to authorities Dr. Dale S. Rogers and Dr. Ronald S Tibben-Lembke, reverse logistics becomes: The process of planning, implementing, and controlling the efficient, cost effective flow of raw materials, in-process inventory, finished goods and related information from the point of consumption to the point of origin for the purpose of recapturing value or proper disposal. To settle on a specific definition, reverse logistics is the process of moving goods from their typical final destination for the purpose of capturing value, or achieving proper disposal to the satisfaction of the customer or consumer.Remanufacturing and refurbishment activities may be part of the procedure. Reverse logistics includes processing returned merchandise due to damage, seasonal inventory, restock, salvage, recalls, and excess inventory. It also includes recycling programs, hazardous material programs, obsolete equipment disposition, and asset recovery. For a practitioner, the disposition choice is determined by the most profitable alternative: * Reconditioning –  when a product is cleaned and repaired to return it to a â€Å"like new† state Refurbishing –  similar to reconditioning, except with perhaps more work involved in re pairing the product. * Remanufacturing –  similar to refurbishing, but requiring more extensive work; often requires completely disassembling the product * Resell –  when a returned product may be sold again as new * Recycle –  when a product is reduced to its basic elements, which are reused – also referred to as asset recovery. Case Examples A business printer field service and reverse logistics model helps explain how an operating system works.The process for such a firm starts when a business customer with a problem calls an original equipment manufacturer (OEM) or third party customer support contact, both of which are used in an attempt to diagnose the problem and provide problem resolution instructions if applicable. An OEM field technician or third party certified technician attempts to repair the equipment on-site. If unable to make the repair, the unit is sent to the OEM or certified third party repair facility, where a regional-based loan er or exchange program may be available. The unit is then repaired at the OEM or third party repair facility.The OEM then ships the returned unit or comparable unit back to the customer, or places the unit in used stock if an exchange is previously provided. A field technician is then scheduled to install the loaner unit, exchange units, or repair equipment at the customer site   As an example, consider firms involved in the aftermarket sales and services business, and how reverse logistics plays a role. Products in this business can include accessories, replacement parts, and repair and service parts. The services could include: product and technical support, training, product documentation, warranty and claims management, and field service repairs.As an adjunct to these products and services, reverse logistics fits the definition by providing for: exchanges and in-warranty repair, out-of-warranty repair, maintenance, upgrades and retrofits, remanufacturing, and end-of-life asset recovery and hazardous material disposal. In the aftermarket business, field services and reverse logistics are generally considered one of the harder areas to manage, coordinate and operate efficiently. The area is often forgotten or given little consideration regarding launch of new products, importance to overall customer satisfaction and loyalty, and company profits.In a specific case example of how complex the situation can become and how allowances are made to assure proper services are provided, we can take a look at what Microsoft did when it decided to introduce its XBOX. The details help make the point about the importance of paying attention to the full supply spectrum, including reverse logistics. Microsoft decided to have the main product manufactured by Flextronics. Accessories would be produced by a variety of manufacturers. Distributors and electronics retailers were to perform the warehousing, distribution, and end customer sales functions.Solectron was used for af termarket warranty and customer repair services. Microsoft took the time to ensure the above capabilities were fully operational before the first XBOX was sold to an end consumer and that any returns would be processed effectively by the designated party. In another example, a cell phone reverse logistics model proved very beneficial for a firm selling such products under their brand name. This firm had the cell phones manufactured by LG Industries, Samsung, Motorola and others. Accessories were again manufactured by a variety of firms.Order taking and initial end consumer billing was performed by Amazon. Forward logistics, including warehousing, carrier service programming and order fulfillment were performed by CellStar. Cellular carriers such as Verizon and Sprint provided the monthly service. Extended warranty and product protection insurance was provided by lock/line. The customer call center service and reverse logistics was performed by CellStar. Money is Hidden in Returns Re asonable estimates made of the costs involved in the area we are considering indicate that reverse logistics as a part of supply chain could equal a half percent of the U.S. Gross Domestic Product, an enormous sum that often simply detracts from financial performance. Saving some of that money is one avenue for finding benefits. Understanding how to use reverse logistics to differentiate a business and build satisfaction and revenues with customers is generally hidden in the twilight of this area. If we take a look under the covers of this often neglected part of supply chain, we’ll see how a company can better understand the opportunities to eliminate many of the reasons for returns and turn dissatisfaction into satisfaction.The idea is to take a look and consider where you might do a better job with a nuisance part of your business. Let’s start by considering some common objective for reverse logistics initiatives. These include: †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Improved customer satisfaction and loyalty †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Reduced repair / replacement unit costs †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Reduced replacement turnaround times †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Feedback on hardware design and ease of use †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Feedback on OEM quality †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Feedback on end consumer education and first level customer support †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Improve understanding of real reasons for hardware returns †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Reduce overall level of returns   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Standardize returns processes across enterprise where possible/desired †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Utilize common systems across enterprise and automate the returns process to the extent possible/desired †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Handle increased volumes of returns due to new products, programs, business par tners †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Enable demand driven supply chain concepts for returned products †¢Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Differentiate company services from the competition Reverse Logistics Completes the Supply Chain System Exhibit 1 – Reverse Logistics: Returns, Customer Service, Field Service, Repair and  ReplacementNow let’s look at how you turn the objectives into benefits. A glance at Exhibit 1 shows reverse logistics can include a multiplicity of actions, from returning goods from a consumer to the retailer or provider, receiving customer service or   having field service take place to repair or fix the item in question, or having the product sent to a third party for repair or replacement. The fact is that reverse logistics includes virtually all of these services, and we counsel a broad perspective should be taken to not let this area be a burden to the business.Most companies tend to place the involved operations in the hands of a subsidiary part of an existing logistics function and pay little attention to the effect it can have on the company’s brand, financial performance or supply chain efficiency. A better view is to take a harder look at this area of the supply chain and find ways to turn what is typically a nuisance into something of value to the business. To make sense out of what we’re considering, let’s remember that reverse logistics includes all of the activity related to the final disposition of products that must be removed from the supply chain system.Such activity involves the processes related to removing products from a supply chain that do not have value for the customer or end consumer. These products may be the result of poor workmanship, over-stocked inventory, outdated or obsolete design, damages, or general dissatisfaction with product performance. For whatever reason, someone at the end of the downstream side of the supply chain says â€Å"I don’t wa nt it† and the smart supplier will make it easy to return the goods.The goal is to make certain the least damage is done to the firm’s brand and reputation, and to handle the process so it results in a positive rather than a negative impression. A system of disposition management is required to handle such situations in an effective and rewarding manner, with the understanding that reverse logistics is far different than forward logistics. In the return situation, there must be a convenient point of collection for receiving the goods or to remove these goods from the supply chain.This process step can require inspection, re-packaging, storage, and salvage of any residual value that might exist; and the development of a transportation mode that is compatible with the existing forward system of supply. The range includes credits for unwanted goods that are returned to inventory, payment for damage that may or may not be a fault of the supplier, replacement of obsolete pro duct, and simply accepting the return of goods that have no apparent problem. Much of the goods in the last category are re-conditioned or re-packaged to go back into the system or to an alternate buyer.There are many examples of firms using this type of system to turn what used to be an out-of-pocket loss into a profit by re-selling the returned goods to a satisfied customer. Exhibit 2 – Reverse Logistics Model – Small Logistics Partner In the model depicted above, the partner receives the returned goods and makes a test to determine if the need is for disposal, there is a major defect and the unit must be repaired, or there is a cosmetic defect and the unit can be refurbished. In either of the latter cases, the unit is repaired and placed in stock for subsequent used stock order fulfillment.In a broader situation, as shown in exhibit 3, the process becomes more involved. Now we see the unit is returned based on the â€Å"return from† location and goes to a des ignated center. The same type of processing takes place, but may also include factory direct repair if authorized by the OEM. This model is more appropriate where large volumes of product are to be processed. Exhibit 3 – Reverse Logistics Model – Large Repair Partners A model used by a satellite TV service provider is described in exhibit 4, where we see different business partners being used for returns processing and minor defect removal versus major product defect repair.Exhibit 4 – Model for Satellite TV Service Provider Where there is sufficient volume, cost savings for using a regional test and refurbishment center can be significant. As shown in exhibit 5, we see the results of an actual example. In this case, the total annual savings of $3. 5 million was based on 1. 4 million returns. Exhibit 5 – Projected Cost Savings for Refurbishment Center Reverse Logistics and the Supply Chain Maturity Model Improving the reverse logistics process starts with making selections from the list of objectives a firm wants to accomplish with its attention to this generally neglected area of supply chain.Our list includes the following common intentions: * Improved customer satisfaction and loyalty – don’t lose customers because of a bad experience * Reduced repair, replacement or re-shipment costs – handle the process in an effective manner * Gain feedback from the process to eliminate root causes – demonstrate to the customer that the firm studies its problems and makes them go away * Improve understanding of the reasons for returns – get to the bottom of why the system did not function in a fail-safe manner * Utilize common systems and automate the returns process to the extent possible – Find the way to turn a problem into an opportunity for better customer satisfaction and a source of revenue * Differentiate the firm’s services from those of the competition – Use the experience to ga in customer confidence and build new sales With such a list in hand, the next step is to determine what is currently taking place to meet the objectives versus what must be done to assure they are fully met. The procedure must follow some basic principles, including: * Move credit/flag product receipt point for returned product as close to the customer as possible * Minimize shipping costs * Minimize refurbishment/repair costs * Minimize hand-offs between organizations, facilities, systems, etc. in order to reduce costs and overall cycle time CSC has developed a proven methodology for helping take this step. In Exhibit 6, we see the characteristics and capabilities a firm demonstrates, as it moves up the familiar supply chain maturity model.Beneath each level of the model, we see industry examples showing what a company can achieve as it makes its progress to higher levels of achievement. CSC has been very successful using this calibration matrix to help a firm position its reverse logistics activities against what can be achieved. Exhibit 6 – Maturity Grid – Reverse Logistics Concluding Case Study Example A concluding case study will help demonstrate the kind of hidden values we’ve been considering. The firm is a major provider of logistics services to the wireless communications industry, serving network operators, agents, resellers, dealers, and retailers, located in North America, South America and Asia. Sales are in excess of $2 billion. The business problem was typical of the industry.Strong competition and low margins were prevalent factors on traditional forward logistics services. The firm needed to improve its business customer and end customer service levels. There were increasing business customer demands for more timely and useful data. Existing processes were fragmented, inconsistent and error prone. It was a very labor and paper intensive situation. The company did have a vision: Focus on diversification into higher margin p roduct and service lines. Position the firm to provide more value added customer services with higher profit margins – especially around reverse logistics including end customer support, advanced exchange programs, asset recovery, warranty and repair services.The solution that emerged included some very typical steps in a reverse logistics situation. The firm assessed its existing application architecture and technical infrastructure along with the high level business requirements needed to achieve its vision. A packaged application was recommended to address gaps in reverse logistics capability and leverage existing IT infrastructure. The firm reviewed its existing operations and business processes and introduced industry best practice concepts for reverse logistics. Business process improvement workshops were conducted, which were used to highlight opportunities for standardization and guide new application software configuration, enhancement and implementation.Finally, the firm performed custom enhancements as needed and implemented new software to enable enhanced reverse logistics capability. The results were impressive: * Re-designed business processes, new reverse logistics application capability and outsourcing of non-core functions allowed them to expand and improve level of service to customers, increase sales revenue stream by adding new customers, and increase overall profit margins * The new reverse logistics solution enabled the following typical improvements for their business customers (before versus after): –  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Reconcile warranty credit – from 30+ days   to

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AIFAA HUSNA BINTI ASHA’RI 112542 LMT 100 / 44 LECTURER : PUAN ZURAIDAH ABU BAKAR Question 1 (a) If I was Sivasothie, I will object the arranged marriage made by my family because I know that arranged marriage will not last longer even though it was parent choice. There were lack of love and respect between husband and wife when we married with someone which we do not know well. Furthermore, there was also the danger of arranged marriage which the husband will act violent towards his wife and to be worse the wife was too afraid to speak out. In Sivasothie’s situation, her future husband was materialistic. As he works as a doctor, the value of dowry that he wanted was too high that cannot be afford by Sivasothie, plus he did not wanted to be considerate with her family at all. In this case, it shows that a woman pride was very low because she cannot afford to pay the dowry for the man, just because of the arranged marriage made by their family. Question 1 (b) If I was the American girl, I will have a slow talk with my husband to improve our relationship. Maybe it was hard to have a slow talk as my husband was too cold, but I will try to change and improve the situation to save my marriage or else my relationship with him will become worse. The love between us is fading and it will die if I do not take any action on it. A marriage with no love was meaningless because we were living with our partner everyday and there will be lack of intimacy. It was okay if our husband was not care about us too much. We do not have to be emotional towards our husband because it will destroy the marriage that we build. Hence, we need to make things better and save the marriage from divorced. Tolerate between each other is important so that our relationship will last longer.

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Jean-Jacques Rousseau - The So essays Jean-Jacques Rousseau - The Social Contract Jean-Jacques Rousseau was born in Geneva in 1712. One Sunday evening in March 1728, when he was not yet sixteen, Rousseau found himself shut out of Geneva after a walk in the country. He had forgotten the time, and the city gates were closed when he reached them. This had happened to him twice before, and his master had beaten him for staying out all night. This time he decided he would not go back at all. So his life of wandering began. Rousseau was never able to adjust to life in any country. How much of his trouble was of social or psychological origin, and how much of it was due to his physical malady, a urological disorder that caused him discomfort and embarrasement throughout his life, cannot be known. He had tried to do what a young man making his way in the world was supposed to do. He had various love affairs. He had given up his ancestral Protestantism and entered the catholic Church. He had enjjoyed the patrinage of the high born. He hah used influence to be appointed secretary ti the French embassy at Venice. He had written operas that were well received,and he had also been accepted by Diderot and other enlightenment thinkers, and was affected by their views. Enlightenment thinkers felt that they were leading a mission of liberation, that by striking th ematch of reason the darkness of the past would be dispelled and humanity woul quickly and easily liberate itself. They attacked war and the military values of the traditional aristocracy. Tjey rejected artificial social distictions. They lauded most forms of freedom, including freedom of the press, speech, and of religious belief. They supported the application of science to economic activity, a view appealing to the middle class and liberal aristocracy. They believed that hteir eighteenth century civilization eas ready for enlightenment and the great progress that wuld result. Yet, the optimism of...

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Suspension Definition in Chemistry Mixtures may be classified according to their properties. A suspension is one type of mixture. Key Takeaways: Suspension Chemistry Definition A suspension is a type of heterogeneous mixture.Over time, particles in a suspension will settle out.A suspension contains larger particles than are found in a colloid. In a colloid, the particles remain mixed over time. Suspension Definition In chemistry, a  suspension is a heterogeneous mixture of a fluid and solid particles. In order to be a suspension, the particles must not dissolve in the fluid. A suspension of liquid or solid particles in a gas is called an aerosol. Examples of Suspensions Suspensions may be formed by shaking oil and water together, oil and mercury together, by mixing dust in air. Suspension Versus Colloid The difference between a suspension and a  colloid  is the solid particles in a suspension will settle out over time. In other words, the particles in a suspension are large enough to permit sedimentation.

What Makes a Compelling Romance Novel

What Makes a Compelling Romance Novel What Makes a Compelling Romance Novel? Ann Leslie Tuttle worked at Harlequin Books - a division of HarperCollins - for over 20 years, most recently as a Senior Editor. During her tenure, she acquired and edited NYT and USA Today bestselling authors in romance, women's fiction, and mystery, including Sylvia Day, Julia London, Lisa Renee Jones, and Hank Phillippi Ryan.If you know how a story will end, why would you want to read the book? That’s the question that romance writers constantly struggle to answer. Readers come to the genre knowing they will (almost) always get a happy ending in which the protagonists find and profess their love.To entice readers, writers must therefore deliver a fresh premise with strong, evocative prose and pacing that gets to the heart of the story - usually beginning with the protagonists meeting in the first chapter. These will be the elements that usually prompt someone to pick up the book and start reading. Most importantly, the writer’s crafting of the two main characters and their emotional journeys is what will keep the reader hooked.Having been an editor working on romance titles for well over 20 years, I’ve seen both debut and experienced authors struggle to create compelling characters whose emotional push-and-pull is strong enough to sustain the length of the story. Over the years, I’ve pulled together my own list of trouble spots - and ways to surmount them - that I’d like to share with you now. See what makes a compelling romance novel here! Trouble Spot #1: CharacterizationThe best lesson I ever received in characterization was at a writers’ conference, where an author who was pitching me told me that she wrote horoscopes for a living. The writer took that skill and developed such detailed horoscopes for the hero and heroine in her story that she knew precisely who they were regarding their tastes and personalities, what obstacles they faced, what had occurred in their past or backstory, etc.While I wouldn’t recommend that every romance writer start building astrological charts, I would encourage you to make sure you really know who your protagonists are. Delve deeply into their stories so that they’re not just one-dimensional stereotypes. Indeed, the more (believable) hardships they’ve endured in the past, the more material you will have to mine.Keep in mind that while stories featuring large families are popular with readers, it can often be a challenge to write about a presumably tortured hero who comes from such a loving, happy home. But if he’s served in the military or lost a close friend in a childhood accident, he may have other emotional reserves upon which you can draw. id=attachment_15175 style="width: 910px" class="wp-caption aligncenter">"Oh, Mr. Darcy!" (image: BBC)In the end, it’s all about the emotional conflict our romantic leads must surmount that makes their story so compellingThe emotional conflict is not to be confused with the external one. The external conflict usually revolves around an issue of miscommunication, perhaps differing career and money goals - or if you want to kick it up a notch, an external threat. (This is particularly effective when one of the main characters is on the run, or in hiding.)For example, the heroine might have left town eight years ago, believing her high school boyfriend didn’t love her simply because he never got her note or phone call - this is the external conflict they must resolve if they want to patch things up. Or maybe the protagonists believe they can’t be together because one lives on the East Coast and the other on the West Coast. These kinds of conflicts can usually be o vercome by a heartfelt conversation or compromise, but it sometimes involves uncovering the main players in a global threat and taking them down.A strong emotional conflict boils down to either a question of trust or fear. For instance, if your hero lost his first wife to cancer, it’s understandable that he won’t want to run the risk of ever experiencing that all-consuming pain again. Or if the heroine shared her deepest secret with an ex who betrayed her trust, she’s probably reluctant to open up to a new partner.In each of these emotionally fraught cases, the conflict is deep and will require some growth on the part of your hero and heroine to recognize that, despite high stakes involved, love is worth putting oneself on the line.Even if one of your characters first realizes and even confesses their love, the resolution of the conflict should take up most of the book (Elizabeth and Darcy, anyone?). If you’ve created a conflict that is sufficiently compe lling, there should not be an instance where both the protagonists confess their love, only to be driven apart again by some external threat or unsolved thread.Yes, readers may know how your story ends. But with multi-faceted protagonists, emotional appeal, great plotting, and a strong conflict, they will still want to travel with the characters as they overcome each milestone on their journey to finding love.For more help with writing great romance, you can also take inspiration from any of the books on these lists:The 10 Best Historical Romance Novels Like OutlanderThe 25 Best Romance Authors and Their Must-Reads30+ Best Young Adult Romance Books That You Can't Miss Out On40+ Paranormal Romance Books with BiteWhat are some of your experiences writing romances? Share your thoughts in the comments below!