North Korea and South Korea

In North Korea, a dictator rules the county and currently their dictator is Kim Jung l_JNI. Also, North Koreans government is very strict about people from other countries traveling to North Korea. Tourists are only allowed to enter the country if there is a guided tour and independent traveling to North Korea is not allowed. However, South Korea, is a republic with a president. As of now, their president, who is the first female president elected, is park Gun Hey. Their country has elections for a new president every five years.Additionally, anyone and everyone can travel to South Korea whenever they want. Every country or state has different cultures and lifestyles. In North Korea, art is didactic and they create many beautiful artworks. Calligraphy, music, painting and pottery are all various types of art that is produced in North Korea. Their paintings are usually drawings of events that have happened in the past or drawings of nature such as flowers. North Koreans play many game s, especially races and they like to participate in a lot of active activities. In addition, their diet does not contain spicy foods such as chime.In South Korea, art and music is very well known. Buddhism was a great inspiration towards South Korean art and outstanding architecture and artworks are found in Buddhist temples and paintings. Music is very popular in South Korea and one type of genre is Kop. Kop is short for Korean pop and is known all over the world. Just like North Korea, South Korea loves to play games and their traditional board game is bad. Also, South Koreans diet is the total opposite of North Koreans diet. In South Korea, spicy foods are very common and the national dish is chime.Lastly, both North and South Korea have a traditional dress called handbook that is mainly worn on New Years. Education is an essential need in everyone's lives. In North Korea, people are mainly interested in the subjects technology and science. Also, in the early 1 sys the education system was divided into one year Of kindergarten, four years of primary school for ages six to nine, and six years of senior middle school for ages ten to fifteen. The most important institution is Kim – sung University. South Koreans academic environment is very competitive.Nearly all the nation's top schools are located in Seoul, South Korea. Primary schools consists of grades one to six and secondary schools consists of seventh to twelfth. The most popular university in South Korea is Seoul National University. The two countries that were known as one are now split into two and has tons of differences and similarities. They compare and contrast in government, culture, and education. Imagining what life would have been like back if North and South Korea were one is difficult due to the disparity in the people's lives and in the country.

Apple essay

Churner (2014) writes an interesting article portraying Apple's return to the bond market in 2014. In April 2014 Apple completed its second blockbuster bond sale in a year. Apple sold $ban of debt of varying maturities at interest rates that were mostly less than a percentage point above comparable U. S. Treasury debt (Churner, 2014). This sale goes a long way in highlighting the faith in the prospects of Apple. The offering was extremely tempting for investors whom flocked to place more than $ban in orders (Churner, 2014).The bonds sold Tuesday offered interest rates relative to Treasures that were similar to last year's sale. For example, a 10-year bond from Apple on Tuesday was priced to yield 0. 77 percentage point more than comparable Treasures. Last year, Apple priced 10-year bonds to yield 0. 75 percentage point more (Churner, 2014). In all, Apple sold fixed-rate bonds maturing in three, five, seven, 10 and 30 years, and were priced to yield 1. 068%, 2. 108%, 2. 889%, 3. 460% and 4. 483%, respectively (Churner, 2014).Deutsche Bank GAG and Goldman Sacks Group Inc. Deed the sale. The head of ‘investment grade credit at Invoices, Chuck Burger describes how â€Å"Apple's bonds are an attractive alternative to Treasury bonds. † He goes on to suggest that the reason they are so popular is due to their past strong performance, and the fact that everyone knows of Apple and has become very trustworthy of the brand name. Invoices spent $million on the new Apple bonds. The value of Apple's bonds is determined through their supply and demand like any other economic good or service.Demand for Apple's bonds has been high for a few seasons, and therefore the value of the bonds is also high. They are highly sought after because they are rated as AAA+, the second highest rating (Churner, 2014)- this is turn reflects a corporate-debt market that is putting in a strong performance this year. Bond prices are often inversely correlated to expectations about the future economy, and thus the stock market. In 2013 bond investments (demand) declined amid investor expectations that the U. S. Economy would pick up steam. However, this has turned around in 2014 as expectations have deteriorated.Apple does have a lathe cash pile ($1 ban) but there are a range of investors that fear selling bonds to reward shareholders can ding the value of a company's outstanding debt. In order for the value of Apple's bonds to remain strong it must ensure that it keeps its products as industry leaders; as soon as this is not the case the demand to invest in Apple bonds will shrink and the price will fall. Worktables (2013) attempts to explain why a company like Apple with such high cash levels would want to issue bonds; fundamentally issued by companies to raise cash.This essentially comes down to a irk in the tax regime: â€Å"According to analyst estimates, Apple has $Bonn of cash- but only $ban on hand in the U. S. , and thus not enough to fully fund the shar e buy- back program† (Worktables, 2013). Therefore although Apple has a vast amount of cash, it needs the ability to access more in order to make up for the less accessible cash they have stored abroad. References Churner, M. , (2014). Apple Returns to Bond Market.

Angel Broking Ltd.

ORGANISATION STUDY ON Angel Broking Ltd. Sigra, Varanasi, Uttar Pradesh By Ashish Om (PB1104) & Jeswin George (PA1114) Group No. 53 Submitted to: UNIVERSITY OF MYSORE II SEMESTER INTERNSHIP – ORGANIZATIONAL STUDY BATCH OF 2011 – 2013 Through Contents Company Letter3 CERTIFICATE FROM THE GUIDE5 CERTIFICATE FROM THE GUIDE6 ACKNOWLEDGEMENTS8 Chapter 19 Industry Profile9 CHAPTER 213 COMPANY PROFILE13 Business Branches of Angel Broking16 Angel Group Consists of:16 Our Vision20 Our Motto20 Our CRM Policy: Customer is King20 Business Philosophy @ Angel Broking20Quality Assurance Policy @ Angel Broking20 CHAPTER 321 ORGANISATIONAL HEIRARCHY21 CHAPTER 425 STUDY OF FUNCTIONAL DEPARTMENTS25 4. 1 HUMAN RESOURCE DEPARTMENT26 4. 2 IT and Media29 4. 3 Marketing Department30 4. 4 Finance Department31 CHAPTER 544 SWOT ANALYSIS44 CHAPTER 647 CONCLUSION & SUGGESTIONS47 CHAPTER 753 BIBLIOGRAPHY53 Company Letter Company Letter CERTIFICATE FROM THE GUIDE This is to certify that this Internsh ip Report on Organizational Study at Angel Broking Limited is a bonafide study of Ashish Om, carried out under my guidance and supervision. PLACE: BANGALORE DATE:Prof. Y.Poornima CERTIFICATE FROM THE GUIDE This is to certify that this Internship Report on Organizational Study at Angel Broking Limited is a bonafide study of Jeswin George, carried out under my guidance and supervision. PLACE: BANGALORE DATE:Prof. Y. Poornima DECLARATION We hereby declare that this Internship Report on Organizational Study at ANGEL BROKING LIMITED submitted in partial fulfilment of the requirement for II Semester MBA Degree examinations 2012 of University of Mysore through Ramaiah Institute of Management Studies is our original work and not submitted to any other university.This work has been done under the supervision of Dr Y. Poornima in Ramaiah Institute of Management Studies, Bangalore. Place: Bangalore Date: Ashish Om (11MB50 ) Jeswin George (11MB5071) ACKNOWLEDGEMENTS First of all, we would like to thank the Almighty God for blessing us with the strength, aptitude and patience for successfully completing my internship and this report. I would like to thank my Faculty Guide, Prof. Y. Poornima for giving me the opportunity to work with her during my period of internship.I have been able to compile and complete this report in a comprehensive manner due to the guidance, support and counselling that she has provided me with during this period. I have tried my best to implement her constructive suggestions while doing my report. I would also like to take this opportunity to thank the management of Angel Broking. Ltd for providing the support to do this Internship. My sincere gratitude goes to Mr. G. N. Chowdry: Manager and Consultant Mines, Mr. Haroon Ahmed: In charge Mines, Mr. Arshad Ahmad: Deputy Chief Chemist, Mr.Farooq Ahmed: Electric Engineer and to Mr. Shakeel Ahmed: In Charge Cement Mill for giving me time from their busy schedule, providing me with information that was r equired to complete the report, and for guiding me properly throughout the period of my internship. I would also like to thank all the employees of Saifco Cements Pvt. Ltd. who have supported me and co-operated with me during my internship period. Finally my sincere thanks go to each and everyone who has helped and supported me significantly in different stages during the period of my internship. Chapter 1 Industry ProfileTo understand the equity market and maintain and cope up with the growing competition from the various online trading providers, Broking Company needs to find potential customer and also target the new investors. The project is being done to train the people about the whole procedure essential to open an online trading account couple with demat account. The project will help in exploring the area where there is the feasibility of acquiring more new investors. It would also help in knowing the various competitors of the industry and exploring the areas through which competitive advantage could be obtained. . 1 What is a Stock Market? A stock market or equity market is a public entity (a loose network of economic transactions, not a physical facility or discrete entity) for the trading of company stock (shares) and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately. The size of the world stock market was estimated at about $36. 6  trillion at the beginning of October 2008. The total world derivatives market has been estimated at about $791  trillion face or nominal value, 11 times the size of the entire world economy.The value of the derivatives market, because it is stated in terms of notional values, cannot be directly compared to a stock or a fixed income security, which traditionally refers to an actual value. Moreover, the vast majority of derivatives ‘cancel' each other out (i. e. , a derivative ‘bet' on an event occurring is offset by a comparable derivat ive ‘bet' on the event not occurring). Many such relatively illiquid securities are valued as marked to model, rather than an actual market price.The stocks are listed and traded on stock exchanges which are entities of a corporation or mutual organization specialized in the business of bringing buyers and sellers of the organizations to a listing of stocks and securities together. The largest stock market in the United States, by market capitalization, is the New York Stock Exchange (NYSE). In Canada, the largest stock market is the Toronto Stock Exchange. Major European examples of stock exchanges include the Amsterdam Stock Exchange, London Stock Exchange, Paris Bourse, and the Deutsche Borse (Frankfurt Stock Exchange).In Africa, examples include Nigerian Stock Exchange, JSE Limited, etc. Asian examples include the Singapore Exchange, the Tokyo Stock Exchange, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, and the Bombay Stock Exchange. In Latin America, there a re such exchanges as the BM&F Bovespa and the BMV. Market participants include individual retail investors, institutional investors such as mutual funds, banks, insurance companies and hedge funds, and also publicly traded corporations trading in their own shares.Some studies have suggested that institutional investors and corporations trading in their own shares generally receive higher risk-adjusted returns than retail investors. 1. 2 What is Stock Broking? The process of investing in the share market, either individually or through a broker is known as stock broking, in simple terms. This is primarily done by opening a Demat account. If done through a broker, he opens an account, helping you to operate through online stock broking facility. Going ahead the broker suggests investment ideas and strategies suiting individual requirements and based on his objective of investment.Tenure of investment, the selected financial instruments and their respective companies, the schemes, the risk taking ability, the sum available for investment, all are considered while forming investment choices. After the amount is invested, the broker tracks and monitors the investments, changes or reinvests depending on the performance and generates reports for them. This entire process is known as stock broking. To understand the equity market and maintain and cope up with the growing competition from the various online trading providers, Broking company needs to find potential customer and also target the new investors.The project is being done to train the people about the whole procedure essential to open an online trading account couple with demat account. The project will help in exploring the area where there is the feasibility of acquiring more new investors. It would also help in knowing the various competitors of the industry and exploring the areas through which competitive advantage could be obtained. 1. 2 Who is a Stock Broker A stockbroker is a regulated professional i ndividual, usually associated with a brokerage firm or broker-dealer, who buys and sells shares and other ecurities for both retail and institutional clients, through a stock exchange or over the counter, in return for a fee or commission. Stockbrokers are known by numerous professional designations, depending on the license they hold, the type of securities they sell, or the services they provide. In the United States, a stockbroker must pass both the Series 7 and Series 63 exams in order to be licensed. In most English speaking venues, the two word term stock broker, like stock brokerage, normally applies to the brokerage firm, rather than to the individual. CHAPTER 2COMPANY PROFILE 2. 1 Angel Broking Limited Date of Establishment: 1987 Market Cap: Rs. 725 crore (January 27, 2006) Address: G-1, Akruti Trade Center, Road No -7, MIDC, Andheri (E), Mumbai – 400093 Branches: Andhra Pradesh, Gujarat, New Delhi, Haryana, Karnataka, Maharashtra, Madhya Pradesh, Rajasthan, Tamil Na du, Uttar Pradesh and West Bengal Angel Broking provides retail related services encompassing Ebroking, Investment Advisory, Portfolio Management Services, Wealth Management Services and Commodities Trading. It is a member of Bombay Stock Exchange and National Stock Exchange.It is also a registered depository participant with CDSL. The company has a relaxed work atmosphere which thrives upon human values, co-operation, trust and respect. It ensures career growth to its employees with ample introduction to business practices. It has employee friendly HR policies which gives security and fair promotions. 2. 2 Insight into Angel Broking Angel Broking Limited is one of the leading and professionally managed stock broking firm involved in quality services and research. Angel Broking Limited is a corporate member of The Stock Exchange, Mumbai.The membership of the company with The Stock Exchange Mumbai was originally in the name of Mukesh R. Gandhi, which was eventually turned into a corp orate membership in the name of Angel Broking Limited. Angel Broking Limited is managed by Mr. Dinesh Thakkar and he is well supported by Mr. Mukesh Gandhi, a fifteen years veteran in the market. The group is well supported by a professional and qualified research team and efficient operations and back office team, which comprises of highly dedicated and qualified individuals. Angel has an in-house, state of art research department.Angel believes in reaching out to the customer at the farthest end rather than by reaching out to them. The company in its endeavour to give its client the best has opened up several branches all over Mumbai, which are efficiently integrated with the Head Office. Angel Broking Limited is primarily into retail stock broking, with a customer base of retail investors, which has been increasing at a compounded growth rate of 100% every year. The company has huge network sub-brokers in Mumbai and other places outside Mumbai, registered with SEBI, who act as ch anel partners for the company.The company presently has a total staff strength of around 150 employees who are spread accordingly across the head office and all the branches. Angel has empowered its physical presence throughout India through various strategies which it has been adopting efficiently and effectively over a period of time, like opening up of branches at various places, tie-ups with various agencies and sales agents, buy-outs of smaller regional outfits and appointment of sub-brokers and franchisees. Moreover Angel has been tapping and including high net-worth and self-employed individuals it its vast array of clients.Angel has always strived in the direction of delivering ultimate client satisfaction and developing stronger bonds with its customers and chose partners. Angel has a vision to introduce new and innovative products and services regularly. Moreover Angel has been one among the pioneers to introduce the latest technological innovations and integrate it effici ently within its business. Angel Broking's tryst with excellence in customer relations began in 1987. It has emerged as one of the most respected Stock-Broking and Wealth Management Companies in India.With its unique retail-focused stock trading business model, Angel is committed to providing ‘Real Value for Money’ to all its clients. The Angel Group is a member of the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and the two leading Commodity Exchanges in the country: NCDEX ; MCX. Angel is also registered as a Depository Participant with CDSL. Business Branches of Angel Broking * Equity Trading * Commodities * Portfolio Management Services * Mutual Funds * Life Insurance * IPO * Depository Services * Investment AdvisoryAngel Group Consists of: * Angel Broking Ltd. * Angel Commodities Broking Ltd. * Angel Securities Ltd. 2. 3 The Management @ Angel Broking Mr. Dinesh Thakkar –  Founder Chairman ; Managing Director The Angel Group of Companies was b rought to life by Mr. Dinesh Thakkar. He ventured into stock trading with an intention to raise capital for his own independent enterprise. However, he recognized the opportunity offered by the stock market to serve individual investors. Thus India’s first retail-focused stock-broking house was established in 1987.Under his leadership, Angel became the first broking house to embrace new technology for faster, more effective and affordable services to retail investors. Mr. Thakkar is valued for his understanding of the economy and the stock-market. The print and electronic media often seek his views on the market trend as well as investment strategies. Mr. Lalit Thakkar –  Director – Research Mr. Lalit Thakkar is the motivating force behind Angel’s highly acclaimed Research team. He’s been a part of the senior management team since the Angel Group’s inception.His technical and fundamental outlook has provided impetus to Angel’s marke t research team. Research-based ; personalized advisory services are Angel’s forte, and Mr. Lalit Thakkar has undoubtedly been the brain behind it. When it comes to analyzing the market, Mr. Lalit Thakkar is truly a genius. His hands-on experience and fundamental knowledge of the market can predict the market trend early. His views on the market trend are often quoted in the print and electronic media Mr. Amit Majumdar –  Chief Strategy Officer A chartered Accountant by qualification, Mr.Amit Majumdar is a key member of Angel’s strategic decision-making process. He has been with the group since August 2004. He has handled several functions of the group like finance and operations, to name a few. He has rich experience in finance, investment banking, treasury, consultancy and advisory services. Mr. Majumdar has led many successful initiatives for the group. Before joining the Angel Group, Mr. Majumdar has been associated with Rabo India Finance, Ambit Corporate Finance and Ernst ; Young. Mr. Sachin Joshi –  Executive Director ; CFO Mr.Sachin R Joshi brings with him over 19 years of experience handling strategic positions in Business Operations ; Finance. He also has hands-on experience in Resource Raising, Strategic Planning, Business Restructuring, Public Listing (Local/ International), etc A Chartered ; a Cost Accountant by qualification, Sachin is also a post graduate in Law and has completed a one year Certificate Program (BLP II) from IIM (Kolkatta). He has been associated with reputed firms such as Navneet Group of Companies, Lupin Laboratories Ltd and Infrastructure Leasing ; Financial Services Ltd. (IL;FS).His last assignment which spanned over 11 years was with IL;FS Invest smart Group where he worked in various capacities such as Chief Financial Officer, Executive Director- Finance ; Operations and Chief Operating Officer Mr. Vinay Agrawal –  Executive Director – Equity Broking Mr. Vinay Agrawal leads th e Equity Broking business at Angel, which comprises Business Development, Operations, Product Development and E-broking initiative. He is actively involved in exploring new ways to adopt technology for business enhancement.A Chartered Accountant by qualification, Mr. Agrawal began his career with the Angel Group as Finance and Operations Consultant, and since then he’s quickly climbed up the corporate ladder. Mr. Nikhil Daxini –  Executive Director – Sales and Marketing With an MBA in finance, Mr. Nikhil Daxini has been instrumental in introducing the concept of professional marketing of broking services at Angel. His area of focus is Business Development, Risk Management and Operations. Mr. Daxini has immense experience in the marketing of financial products and services. He has been associated with HDFC Bank Ltd. n the past. Mr. Mudit Kulshreshtha –   Executive Director – Business Intelligence ; Analytics Mr. Mudit Kulshreshtha heads the adva nce analytics and strategic business intelligence division at Angel. With a Bachelor’s degree in Engineering and PhD in Economics, Mr. Mudit Kulshreshtha has more than 12 years experience in the field of strategy and business consulting. He has been associated with reputed consulting firms like Deloitte Consulting India, Ernst and Young, Arthur Andersen and WNS Global. He has advised several big clients in the U. S. and U. K.He is also a known speaker at public seminars and conferences organised by CII, NASSCOM, Indian School of Business and IIT. Mr. Santanu Syam –   Executive Director – Operations Mr. Syam brings with him over 18 years of experience in the field of Transaction Banking, Wholesale Banking, Treasury Banking, Consumer Banking and CBS. He started his career with ANZ Grindlays Bank and he was also associated with Standard Chartered Bank in India as Director Transactional Head Banking. Mr. Syam followed up his Engineering degree with an MBA. He has also attended Banking ; Technology seminars organised by SCB Singapore, BSE India ; Euro Finance. ———————————————— ————————————————- 2. 4 KEY DEVELOPMENTS FOR ANGEL BROKING LTD. Angel Broking Ltd. to Invest INR 300 Million in Financial Year 2010 Angel Broking Ltd. Announced that it is planning to invest around INR 300 million this financial year for expanding its branch network. The company is looking to invest around INR 250-300 million in this financial year for expanding its network by 50 branches. The investment is in line with expansion strategy which sees huge potential in the long term.Under its expansion plans, the company would focus on few areas in the northern and southern regions including Punjab, Haryana, New Delhi, Tamil Nadu and Karnataka. The firm is also eying to tap semi-urban pockets which have huge investment potential. Angel Broking In Talks To Raise Funds Angel Broking Ltd. plans to finalize INR 2 billion – INR 2. 5 billion fund raising plans between December 2009 and March 2010. Dinesh Thakkar, Angel Broking’s CMD said, â€Å"We are got active interest from the US and UK-based institutions. We are open to diluting a significant stake. He did not reveal the valuations, because discussions were still in a preliminary stage. Angel Broking Ltd. Announces Executive Appointments Angel Broking Ltd. announced four key-appointments for its domestic operations. Hitungshu Debnath has been appointed as the head of its distribution ; wealth management services while Mudit Kulshreshtha will take over as the head of strategic business intelligence and advanced analytics initiatives. The company has also named Adil Kasad as the Chief Financial Officer (CFO) and Santanu Syam as head of retail operations across all busin ess verticals. 2. Angel Broking Credentials Our Vision To provide best value for money to investors through innovative products, trading/investments strategies, state of the art technology and personalized service. Our Motto To have complete harmony between quality-in-process and continuous improvement to deliver exceptional service that will delight our Customers and Clients. Our CRM Policy: Customer is King â€Å"A Customer is the most Important Visitor on our premises. He is not dependent on us, but we are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business.He is part of it. We are not doing him a favour by serving him. He is doing us a favour by giving us an opportunity to do so. † – Mahatma Gandhi Business Philosophy @ Angel Broking Ethical practices ; transparency in all our dealings Customers interest above our own Always deliver what we promise Effective cost management Quality Assurance Polic y @ Angel Broking We are committed to providing world-class products and services which exceed the expectations of our customers, achieved by teamwork and a process of continuous improvement.CHAPTER 3 ORGANISATIONAL HEIRARCHY 3. 1 ORGANISATIONAL CHART 3. 2 Product Profile A product profile is an outline of the description of a product. The amount of detail contained in it varies with the style of the information sheet. It is not a specification sheet. It is a general description of the various products and services offered by a particular company or firm. This one is rather detailed, but note the difference between this and the Specifications detail. The following products are offered by Angel Broking in the process of its functioning: * Equity Trading Commodity Trading * Mutual funds promotion * Depository services * Margin Financing * NRI-Desk Management proximity to stock exchanges and banks. Equity Trading: For the first time Angel Broking investing commodity the power to be ass ociated with the elite dealing rooms and freedom to execute trade on their own. That is one may trade from their branches or trade own over the net and with that expertise and assistance. Depository Services: Angel Broking is among the few major Depository Participants holding securities worth more than Rs. 6000 crore under its management .RSL provides depository services investors as a depository participant with NSDL and CDSL. 16 Commodity Trading: Commodities are a word originated from the French word ‘commodity’ means  benefit profit. Angel commodities Limited is a member of both the exchange (MCX ; NCDEX)that allows trading in all the commodities traded at both the exchange . At  present, trading in commodities is restricted to futures contracts only. Benefits of Commodity Trading: To investors: Investors always look for alternative investments avenues where they can diversify their funds to achieve their financial goals.In financial market, commodities have ra pidly emerged as a major investment tool as they help in diversifying investments and to hedge against inflation, greatest threat to any investor. MUTUAL FUNDS SERVICES: Angel Broking is also promoting mutual funds of all companies. CORPORATE ADVISORY GROUP: Corporate advisory group provides various solutions to corporate banks and financial institutions son the management of debit, equity and investments. The service extends from advising client to earn maximum profit by investing through selected papers like MF/PMF etc.PORTFOLIO MANAGEMENT SYSTEM: Portfolio management services manage client’s wealth more efficiently reduces risk by diversifying across assets, sectors and funds, and maximizing returns at managed levels of risk . This service could also be called as â€Å"transparent collective investments†. INVESTMENT BROKING DIVISION: Angel Broking provides innovative, integrated and best – fit solutions to their  corporate customers, it is continuous endeav our to provide value enhancement through diverse financial solution on an on-going basis, through products like corporate debt , private equity , IPO, ECB, FCCB, GDR/ADR etc.CHAPTER 4 STUDY OF FUNCTIONAL DEPARTMENTS ————————————————- 4. 1 HUMAN RESOURCE DEPARTMENT Work Culture At Angel, exploring of new paths to provide the best value to all our internal and external customers is carried out. Angel Broking considers people as their biggest asset and believes in creating long term relationships by nurturing talent from within. A fast-growing, forward-looking organization like Angel, demands HR to be a key responsibility area of our core management team.The HR team constantly explores ways to enhance and augment the knowledge base and productivity of all Angels by providing various learning and development Programs. The three tier Leadership Development program helps all sta r performers to grow and develop their managerial skills to become effective mentors for their teams and thereby take on the next level of responsibility effectively. Angel’s is a winning team of highly determined, motivated, and adaptable people, all working diligently to take Angel's exciting success story forward.HR Philosophy At Angel, People come first. Along with the customers, the employees are equally vital to the organization. The Business of HR is to foster an entrepreneurial spirit – whereby Angels can operate with ownership as an entrepreneur (profit center) within the confines of their job role and earn over and above their fixed salaries. Angel believes in inculcating a sense of responsibility and ownership in all Angels which brings out the entrepreneurial zeal to explore potential within as well as beyond job boundaries.Our HR Philosophy is to engage employees at professional, emotional and material levels: * We aim to create an environment conducive to both personal and professional development of the employees, leading to a productive and happy work force * Angel believes that people impact business and therefore each and every Angel is a key resource and a valuable asset * Our business philosophy of being transparent in all our dealings with our customers, is equally applicable in dealings with employees * We encourage initiative, provide professional freedom and empower Angels based on trust Employee EngagementTeam HR at Angel works effectively to create a work environment and performance culture that fosters team spirit and enhances employee productivity through motivation and positive ambition. * Our HR team is continually working to rationalize and restructure measures to ensure better employee relationship management, employee communications and relations, recruitment and training need analysis; program design and implementation, performance evaluation and other work-life initiatives. Performance Management Core essence of Performance Management SystemsThe core essence of PMS is to build and strengthen the team member’s ‘Connect’ with Angel Broking through: * Enrolling the team member to Angel’s vision * Meaningful engagement * Meaningful dialogue * Openness to give and receive feedback * Compliment achievements * Focus on the team member’s growth to enhance performance| | The whole focus of PMS is to look for goodness in a person. The onus is on the managers to look for that goodness, identify strengths and try to create a role around strengths rather than getting bogged down with weaknesses.The Performance Management System at Angel has reduced manual intervention to a minimal level. The fully integrated online system uses sophisticated tools such as national and regional stack ranking, performance bands and rank based recommendations. All this is supported through one-on-one interactive feedback & coaching session with team. Performance credits are received for ex ceeding expected targets and there are equal opportunities for all employees to earn rewards with no upper limits. Performance credit structures have been worked out differently for various categories of employees.Career Why you should anyone work with Angel Broking? * Fast paced, enriching career with exposure to best business practices * Fair compensation & opportunities for growth / promotion based on merit * Vibrant work culture and opportunities for training, recreation and social interaction * Progressive HR policies with an open door approach and proactive processes to maintain high morale * Security of employment, subject to minimum acceptable performance Leadership Academy Learning is a continuous process at Angel Broking.We identify the strengths of employees and design training programs to build their strong points and overcome their shortcomings. We prepare our employees for future positions with training and by encouraging the learning process. This helps them to move t owards their career objectives efficiently. We also employ various people development initiatives like E-learning opportunities for functional & behavioural skills through video conferences and through our employee portal. Our E Wise – Be wise Program provides every Angel with 24Ãâ€"7 access to all relevant information about Angel.This encourages employees at all levels to upgrade their knowledge constantly and apply their learning’s in the day to day work to achieve high productivity and customer satisfaction levels. 4. 2 IT and Media The rapid innovation in the field of information and communication technology has posed serious challenges for the stock broking industry in India. The use and application of information technology in wide variety of insurer’s operations has now become strategic in the sense that it has direct impact on the productivity of resources, and a sweeping impact on reducing the case of various activities.With the arrival of private brok ers, the competition has become more intense and an important role is being played by the stock broking sector. Angel Broking has been maintaining a proper Management Information System for the proper recording of the information of all types available to them. This helps them to assess the information and analyse it for any kind of priority requirements. For any technology related problems that needs to be fixed, Angel Broking takes a time span which is dependent on the severity of the problem. It takes around a day or a week’s time to get the technology fixed if it is a small problem.Employees at the IT department get it resolved at the earliest and avoid turbulence which enhances a smooth flow of activities in the organization. At Angel Broking, the impact of Information Technology can be seen in the other departments also: Marketing department: In this department IT has facilitated the marketing executives to up sale the business and meet the business delegates with new t echnology and features of the their business. Finance Department: Angel Broking uses computerized accounting system which has reinforced the department to work with accuracy and reliability. Human resource department:The human resource department at Angel Broking also uses information technology to maintain databases of information regarding the employees working in the organization and their details. Since Angel Broking is basically a stock broking firm, they mostly concentrate on Press releases, Events and very few TV commercial Ads. 4. 3 Marketing Department The meaning of marketing has changed with the passage of time. In the modern times, the concept of marketing has been changed entirely due to cutthroat competition. Markets are no longer local but they have become national as well as international in character.In the past marketing was often referred as selling but now it has been realized that marketing is different from selling. Marketing department takes care of the market ing of all the products of the company. It helps in the increase of the business. It plays the major role in making the people aware of their product. It concentrates on making the strategies of how to increase the sales of the products. How they can segment the market to tap out its maximum potential profits. It also works on sales promotion to increase the sales of company. According to J. F.Pyle, â€Å"Marketing is that phase of business activity through which human wants are satisfied by exchange of goods and services†. Also marketing is the process of discovering and translating consumer wants into products and services specifications. Marketing differs in between products and service based organizations. As in manufacturing firms there is a product but in service-based organization the marketing has to be done of an intangible thing. In the Marketing department, we were given the opportunity to learn new things by observing and interacting with the Marketing team of   the company.I was involved with creating Product Invoice, recording and tracking the sales call from the distribution channel, analysing some sales figures of the company, and taking feedback and complaints from the customers via telephone and e-mail while working in the Customer Service Department. 4. 4 Finance Department This department keeps the proper track record of all the transactions taking place. It maintains the record of all the broking being carried out in our office. Ratio analysis of financial statements It is a systematic use of ratios to interpret/ assess the performance and status of the firm. A ratio expresses a mathematical relation between two quantities. * Ratios are tools providing us which clues and symptoms of underlying conditions. Ratios can help us to identify areas requiring further investigation. * The usefulness of ratio depends on the quality of the numbers in their calculation. That is our ability to draw useful insights and make valid intercompany co mparisons is enhanced by our skill in adjusting reported numbers prior to inclusion in these analyses. * Ratios are interpretable only in comparison with 1) Prior ratios 2) Predetermined standards. 3) Ratios of competitors.Ratio analysis of a firm’s financial statements is of interest to shareholders, creditors, and the firm’s management. Stockholders are interested in the firm’s current and future level of risk and return, which directly affect the stock price. The firm’s creditors are primarily interested in the short-term liquidity of the company and in its ability to make interest and principal payments. Internal management is concerned with all aspects of the firm’s financial performance. Therefore, they attempt to produce financial ratios that will be considered favorable to both owners and creditors.Additionally, management uses ratios to monitor the firm’s performance from period to period. Unexpected changes or variances are identif ied to isolate developing problem areas. IMPORTANCE OF RATIO ANALYSIS Ratio analysis does two things, immediately. The first thing is it allows the company to compare itself with other like companies. If management feels things aren't going well, they can help pinpoint the problem through comparing their ratios with other companies. They may have several ratios that are comparable, but a couple which are way off. That might be where the problem is.Also, ratio analysis may help by comparing your company with prior periods. If a particular ratio is declining when it would be better if it were staying the same or increasing, then again looking at the ratios are important to find out where the problem lies. Ratios are important to spot trends easily. Types of ratios: Ratios can be classified into six broad groups: 1. Liquidity ratios 2. Capital structure/ leverage ratios 3. Profitability ratios 4. Activity/ efficiency ratios 5. Integrated analysis of ratios 6. Growth ratios. 1. Liquidit y Ratios: It is the ability of a firm to satisfy its short- term obligations as they become due.The importance of adequate liquidity in the sense of the ability of a firm to meet current / short –term obligations when they become due for payment can hardly be overstressed. a) Current Ratio: Current Ratio is the ratio between Current Assets and Current Liabilities. It calculated by dividing Current Assets by Current Liabilities. Current assets include all assets, which can convert easily into near money within a year. Current assets include cash in hand, cash at bank, debtors, stock, and money at short or call notice etc. Current liabilities are the sum of all hort-term payables within a year, which include Sundry Creditors, Bills payable, Bank overdraft, Expenses outstanding etc. the current ratio of a firm measures its short term solvency that is, its ability to meet short-term obligations. As a measure of short-term current financial liquidity, it indicates the amount of cu rrent assets available for each amount of current liability. Formula for finding current ratio is given below. Current Ratio = Current Assets/Current Liabilities Current Ratio = Current Assets/Current Liabilities Significance of the ratio Current ratio provides a margin of safety to the creditors.In a sound business, a current ratio of 2:1 is considered an ideal one. Current ratio indicates firm’s ability to pay its current liabilities, i. e. day-to-day financial obligation. Current ratio is an index of the firm’s financial stability i. e. , an index of technical solvency and an index of the strength of working capital, which means excess of current assets over current liabilities. Higher ratio more than 2:1 indicates sound solvency position. Lower ratio less then 2:1 indicates inadequate working capital. b) Quick ratio: Quick ratio is also known as liquid ratio or Acid test ratio.Quick ratio shows the liquidity of the business. Quick ratio is the ratio between quick a ssets and quick liabilities. The term quick asset refers to current assets, which can be converted into, cash immediately or at a short notice without diminution of value. Quick assets comprise of all current assets minus stock and pre paid expenses. The formula to find quick ratio is as follows. Quick Assets = Current assets – (Stock + Prepaid expenses) Quick Assets = Current assets – (Stock + Prepaid expenses) Quick liabilities comprises of all current liabilities minus Bank over draft.Quick Ratio = Quick assets / Quick Liabilities Quick Ratio = Quick assets / Quick Liabilities The formula is shown below: Quick Ratio = Quick assets/Current Liabilities Quick Ratio = Quick assets/Current Liabilities Significance of the ratio It is the true test of business solvency. Generally an acid test ratio of 1:1 considered as satisfactory, by that a firm can easily meet all current claims. Higher ratio more than 1:1 indicates sound and good financial position. If the ratio is les s then 1:1, that is, liquid assets are less than current liabilities, the financial position of the concern shall be deemed to be unsound.This ratio gives a picture of firm’s ability to meet its short-term debts out of short-term assets. If less the quick ratio, higher the incidence of inventory in inflating the current ratio and higher is quick ratio, the incidence of inventory in inflating the current ratio is less. c) Net working capital: Working capital is the lifeblood of the business. Working capital refers to that part of the firm’s capital, which is used for financing short term or current assets, such as, cash, marketable securities, debtors, inventories, bills receivables etc. n a narrow sense, the term working capital refers to the net working capital. Net working capital is the excess of current assets over current liabilities. Net working capital = Current assets – Current liabilities Net working capital = Current assets – Current liabilities d) Turnover ratios: It measures the speed with which various accounts /assets are converted into sales or cash. It is concerned with measuring the efficiency in asset management. These ratios are also called efficiency ratios or asset utilization ratios. The liquidity ratios mentioned above are related to the liquidity of a firm as a whole.Another way of examining the liquidity is to determine how quickly certain current assets are converted into cash. The ratios to measure these are referred to as turnover ratio. The three relevant turnover ratios are, 1. Inventory turnover ratio: This ratio is also known as stock velocity. This ratio calculated to consider the adequacy of the quantum of capital and its justification for investing in inventory. A firm must have reasonable stock in comparison to sales. It is the ratio of cost of sales and average inventory. This ratio helps the finance manager to evaluate inventory policy.This ratio reveals the number of times finished Inventory tu rnover Ratio = Cost of sales/Average inventory Inventory turnover Ratio = Cost of sales/Average inventory 2. Debtors’ turnover ratio: Debtor’s turnover ratio is also called ‘Debtors velocity’ or ‘Receivables turnover’. A firm sells goods on credit and basis. When the firm extends its customers, book debts are created in the firms account. Debtors are expected to convert into cash over a short period, so it included in current assets. Debtors include the amount of bills receivables and book debts at the end of accounting period.It is a test to understand the reasonable quantitative relationship between outstanding receivables and sales. Financial analysts employ two ratios to judge the quality or liquidity of the Debtors turnover and Average collection period. Debtor’s turnover is found by dividing total sales by sundry debtors. Formula to find debtors turnover ratio is given below Debtors turnover = Total sales/Sundry debtors Debtors tu rnover = Total sales/Sundry debtors 3. Creditors’ turnover ratio: It is a ratio between net credit purchases and the average amount of creditors outstanding during the year.It is calculated as follows: Creditors turnover ratio= net credit purchases / average creditors Creditors turnover ratio= net credit purchases / average creditors Net credit purchases= gross credit purchases – returns to suppliers Net credit purchases= gross credit purchases – returns to suppliers Average creditors= average of creditors (including bills payable) outstanding at the beginning and at the end of the year Average creditors= average of creditors (including bills payable) outstanding at the beginning and at the end of the yearA low turnover ratio reflects liberal credit terms granted by suppliers, while a high ratio shows that accounts are to be settled rapidly. The creditor’s turnover ratio is an important tool of analysis as a firm can reduce its requirement of current asse ts by relying on supplier’s credit. The extent to which trade creditors are willing to wait for payment can be approximated by the creditor’s turnover ratio. Defensive – Interval Ratios: It is the ratio between quick assets and projected daily cash requirement. Defensive – interval ratios = Liquid assets /projected daily cash requirementDefensive – interval ratios = Liquid assets /projected daily cash requirement Projected daily cash requirement=projected cash operating expenditure/number of days in a year Projected daily cash requirement=projected cash operating expenditure/number of days in a year Cash Flow From Operations Ratio: Cash flow from operations ratio= Cash flow from operations/ current liabilities Cash flow from operations ratio= Cash flow from operations/ current liabilities This ratio measures liquidity of a firm by comparing actual cash flows from operations with current liability. It is calculated as per equationBeing a cash measur e, the ratio does not encounter the problems of actual convertibility of current assets and the need for maintaining minimum levels of these assets. In general, the higher the ratio, the better is a firm from the point of view of liquidity. 2. CAPITAL STRUCTURE /LEVERAGE RATIOS: The long term lenders/creditors would judge the soundness of a firm on the basis of the long term financial strength measured in terms of its ability to pay the interest regularly as well as repay the installment of the principal on due dates or in one lump sum at the time of maturity.The long term solvency of a firm can be examined by using leverage or capital structure ratios. It may be defined as financial ratios which throw light on the long term solvency of a firm as reflected in its ability to assure the long term lenders with regard to (1) Periodic payment of interest during the period of the loan and (2) Repayment of principal on maturity or in predetermined installments at due dates Ratios based on relationship between borrowed funds and owner’ capital: A. Debt –equity ratio:The financing of total assets of a business concern is done by owner’s equity as well as outsider’s debts. The relationship between borrowed funds and owner’s capital is a popular measure of long-term financial solvency of a firm. The relationship is shown by the debt equity ratio. This ratio indicates the relative proportions of debts and equity in financing the assets of a firm the formula we use is Total long-term debts by Shareholders fund. Total long-term debts include mortgage loans, long term loans; debentures etc. hare holders fund includes Preference share holders, Equity share holders, capital reserve, revenue reserve etc. Debt equity ratio = Total long term funds/Share holders fund Debt equity ratio = Total long term funds/Share holders fund Significance of the ratio: Acceptable norm for this ratio is considered to be 2:1. A higher debt-equity ratio is allowed in the case of capital-intensive industries, a norm of 4:1 is used for fertilizer and cement units and a norm of 6:1 is used for shipping units. A high ratio shows that the claims of creditors are greater han that of owners. A very high ratio is unfavourable from the firm’s point of view. A high debt company, also known as highly leveraged or geared, is able to borrow funds on very restrictive terms and conditions. A low debt-equity ratio implies greater claim of owners then creditors. From the point of view of creditors, it represents a satisfactory capital structure of the business since a high proportion of equity provides a larger margin of safety for them. This ratio shows the extent to which debt financing is used in the business. Debt –assets ratio:Another approach to calculating the debt to capital ratio is to relate the total debt to the total assets of the firm. The total debt of the firm comprises long- term debt plus current liabilities. The total assets co nsist of permanent capital plus current liabilities. Thus, Debt to total assets/capital ratio= total debt/ total assets Debt to total assets/capital ratio= total debt/ total assets c) Equity assets ratio: Still another variant of the debt/equity ratio is to relate the owner’s/proprietor’s funds with total assets. This is called the proprietary ratio.The ratio indicates the proportion of total assets financed by owners. Symbolically, it is equal to: Proprietary ratio = Proprietor’s funds / total assets x 100 Proprietary ratio = Proprietor’s funds / total assets x 100 Proprietary Fund to Fixed Assets Proprietary ratio relates shareholders’ funds to total assets. It is a variant of debt equity ratio. This ratio shows long term or future of the business. It calculated by dividing shareholders funds by the total assets. Proprietary ratio = shareholders funds/ Fixed assets Proprietary ratio = shareholders funds/ Fixed assets Preference share capital and equity share capital plus all reserves and surplus items are called shareholders fund. Total assets include all assets including goodwill. Significance of the ratio: The acceptable norm for the ratio is 1: 3. The ratio shows the general strength of the company. It is very important to creditors as it helps to find out the proportion of shareholders funds in the total assets used in the business. Higher ratio indicates a secured position to creditors and a low ratio indicates greater risk to creditors. Proprietary ratio is also analysis in the following manner Ratio of current assets to proprietor’s funds:It shows the relationship between current assets and Shareholders funds. The purpose of this ratio is to calculate the percentage of shareholders funds invested in current assets. It found by dividing current assets by proprietors funds. Significance of the ratio This ratio can be expressed in percentage or as a proportion. Different industries are using different norms and h ence the ratio should be carefully used. c) Coverage ratios: It measures the firm’s ability to pay certain fixed charges. These ratios are computed from information available in the profit and loss account.For a normal firm, in the ordinary course of business, the claims of creditors are not met out of the sale proceeds of the permanent assets of the firm. The obligations of a firm are normally met out of the earning or operating profits. 1. Interest coverage ratio: It measures the firm’s ability to make contractual interest payments. Interest coverage = EBIT / interest Interest coverage = EBIT / interest It is also known as ‘time-interest- earned ratio’. This ratio measures the debt servicing capacity of a firm insofar as fixed interest on long term loan is concerned.It is determined by dividing the operating profits or earnings before interest and taxes by the fixed interest charges on loans. 2. Dividend coverage ratio: It measures the ability of a firm to pay dividend on preference shares which carry a stated rate of return. This ratio is the ratio of net profits after taxes and the amount of preference dividend. Thus, Dividend coverage ratio = EAT/ PREFERENCE DIVIDEND Dividend coverage ratio = EAT/ PREFERENCE DIVIDEND 3. Total fixed charges coverage ratio: It measures the firm’s ability to meet all fixed payment obligations.The total coverage ratio has a wider scope and takes into account all the committed fixed obligations of a firm, that is, 1) Interest on loan 2) Preference dividend 3) Lease payments 4) Repayment of principal Symbolically, Total fixed charges coverage ratio = EBIT + Lease payment/ interest + lease payment + (preference dividend + installment of principal) / (1-t) Total fixed charges coverage ratio = EBIT + Lease payment/ interest + lease payment + (preference dividend + installment of principal) / (1-t) . Cash flow coverage ratio: Total cash flow coverage = EBIT+ lease payments + depreciation + non-cash expenses / lease payment + interest + (principal repayment)/(1-t) + (preference dividend)/ (1-t) Total cash flow coverage = EBIT+ lease payments + depreciation + non-cash expenses / lease payment + interest + (principal repayment)/(1-t) + (preference dividend)/ (1-t) The overall ability of a firm to service outside liabilities is truly reflected in the total cash flow coverage ratio: the higher the coverage, the better is the ability 5. Debt services coverage ratio:Debt service capability is the ability of a firm to make the contractual payments required on a scheduled basis over the life of the debt. It is considered a more comprehensive and apt measure to compute debt service capacity of a business firm. It provides the value in terms of the number of times the total debt service obligations consisting of interest and repayment of principal in installments are covered by the total operating funds available after the payment of taxes: Earnings after taxes, EAT + interest + depreci ation + other non – cash expenditure like amortization. 3.Profitability ratios: The profitability of a firm can be measured by its profitability ratio. Apart from the creditors, both short-term and long terms, also interested in the financial soundness of a firm are the owners and the management or the company itself. The management of the firm is naturally eager to measure its operating efficiency. Similarly the owners invest their funds in the expectation of reasonable returns. The operating efficiency of a firm and its ability to ensure adequate returns to its shareholders/ owners depends ultimately on the profits earned by it. a) Gross Profit Ratio:Gross profit is the result of the relationship between prices, sales volume and costs. It measures the percentage of each sales rupee remaining after the firm has paid for its goods. A change in the gross margin can be brought about by changes in any of these factors. The gross margin represents the limit beyond which fall in s ales prices are outside the tolerance limit. Further, the gross profit ratio/ margin can also be used in determining the extent of loss caused by theft, spoilage, damage, and so on in the case of these firms which follow the policy of fixed gross profit margin in pricing their products.A high ratio of gross profit to sales is a sign of good management as it implies that the cost of production of the firm is relatively low. It may also be indicative of a higher sales price without a corresponding increase in the cost of goods sold. It is also likely that cost of sales might have declined without a corresponding decline in sales price. A relatively low gross margin is definitely a danger signal, warranting and careful and detailed analysis of the factors responsible for it. Gross profit ratio= gross profit x 100 Sales Gross profit ratio= gross profit x 100Sales Net profit ratio: It measures the percentage of each sales rupee remaining after all costs and expenses including interest an d taxes have been deducted. The net profit margin is indicative of management’s ability to operate the business with sufficient success not only to recover from revenues of the period, the cost of merchandise or services, the expenses of operating the business (including depreciation) and the cost of the borrowed funds, but also to leave a margin of reasonable compensation to the owners for providing their capital at risk.The ratios of net profit (after interest and taxes) to sales essentially express the cost price effectiveness of the operation. A high net profit margin would ensures adequate return to the owners as well as enable a firm to withstand adverse economic conditions when selling price is declining, cost of production is rising and demand for the product is falling. A low net profit margin has the opposite implications. Net profit ratio = Net profit x 100 Sales Net profit ratio = Net profit x 100 Sales a. Return on capital employed: The ROCE is the second type of ROI.Here the profits are related to the total capital employed. The term capital employed refers to long- term funds supplied by the lenders and owners of the firm. It can be computed in two ways. First, it is equal to non –current liabilities (long term liabilities) plus owners’ equity. Return on capital employed= Net profit x100 Capital employed Return on capital employed= Net profit x100 Capital employed SUMMARY OF FINDINGSRatio analysis is an important tool for financial statement analysis. Here we studied various ratios relating to measurement of the financial performance such as current ratio, quick ratio, debt equity ratio, proprietary ratio, gross profit ratio etc. In the previous chapter we made a detailed analysis of the Angel Broking Limited from 2005 to 2009. The major findings are given below * The study shows there is a continuous changes in the current ratio and also it is not satisfactory when compare to actual standard of 2:1. * Current ratio in the year 2005, it is showing 1. 5% and later on it went on increasing way i. e. in 2006 – 1. 44%, 2007 – 1. 36, 2008-1. 37%. * Current ratio in past three years it was getting to meet the standard, but in the year of 2009 again it went down to 1. 07%. * The quick ratio for this company is same as mentioned in the above table. Because as there is no inventory and prepaid expenses to deduct in this company as it is insurance company we cannot find inventory. * The study shows that the net working capital in the company is Rs. 52,669,000 in 2005, Rs. 1,182,432,000 in 2006, in 2007 – Rs. ,420,039,000, in 2008 – Rs. 2,324,559,000 and in 2009 again it decreased to Rs. 614,591,000. * The study shows that the debt equity ratio is satisfactory from the creditors point of view that is in the year 2005 the percentage of ratio is 2. 65%, in 2006 – 3. 73%, in the year 2007 – 5. 50%, in 2008- 6. 33% and in 2009 it is 5. 29%. * The study shows that the propri etary ratio to fixed assets is 2005- 4. 37%, 2006- 10. 53%, 2007- 11. 36%, 2008- 9. 96%, 2009- 12. 73%. * The study shows that the proprietary ratio to current ratio is in 2005-2. 79%, 2006- 1. 64%, 2007- 1. 5%, 2008- 1. 55%, 2009- 1. 91%. * The study shows that gross profit ratio of the company was went on decreasing but it is recovering from more loss to less loss and the percentage of ratio is, in the year 2005 is -0. 13%, in 2006 it is -0. 08%, in 2007 it is -0. 04%, in 2008 it is -0. 05%, in 2009 it is -0. 09% * The study shows that the net loss was went on decreasing from the year 2005 to 2008. But in the year 2009 it has incurred more loss than 2006, 2007, and 2008 but less than 2005 (i. e. 2005 = -0. 27, 2006= -. 20, 2007= -. 16, 2008= -0. 14, 2009= -0. 2) * The study shows that the return on capital employed is not good because every year it is earning negative returns and also the percentage of negative returns went on increasing way (i. e. 2005= -58. 80%, 2006= -49. 99%, 2007= -52. 88%, 2008= -51. 90%, 2009= -64. 62%. CHAPTER 5 SWOT ANALYSIS 5. 1 Strengths * It is a pioneer in online trading with a turn over of Rs. 220. 5 billion and Over 6810 sub-Brokers ; Business Associates. * Angel Broking provides multi-channel access to all its customers through a strong online presence with www. angelbroking. om,144 share shops in all over India and a call-center based Dial-n-Trade facility. Nation-wide network of 21 Regional Hubs Presence in 124 cities. * Above 6th lakh client in all over India * 100+ member research ; advisory team comprises of experienced fundamental and technical analyst, sector specialist, derivative strategists. * Angel Broking has dedicated research teams for fundamental and technical research, which constantly track the pulse of the market and provide timely investment advice free of cost to its clients which has a strike rate of 70-80%. Angel Broking Ltd. Announced that it is planning to invest around INR 300 million this financial y ear for expanding its branch network. The company is looking to invest around INR 250-300 million in this financial year for expanding its network by 50 branches. * The company has been increasing at a compounded growth rate of 100% every year. 5. 2 Weakness * Localized presence due to insufficient investments for countrywide expansion. * Lack of awareness among customers because of non-aggressive promotional strategies (print media, newspapers, etc). Lesser emphasis on customer retention. * Focuses more on HNIs than retail investors which results in meager market-share as compared to close competitors. * Not listed in stock exchange. 5. 3 Opportunities * With the booming capital market it can successfully launch new services and raise its client’s base. * It can easily tap the retail investors with small saving through promotional channels like print media, electronic media, etc. * As interest on fixed deposits with post office and banks are all time low, more and more small investors are entering into stock market. Abolition of long-term capital gain tax on shares and reduction in short term capital gain is making stock market as hot destination for investment among small investors. * Angel Stock Broking Ltd. plans to finalize INR 2 billion – INR 2. 5 billion fund raising plans between December 2009 and March 2010. Dinesh Thakkar, Angel Broking’s CMD said, â€Å"We are got active interest from the US and UK-based institutions. We are open to diluting a significant stake. † * Increasing usage of Internet through broadband connectivity may boost a whole new breed of investors for trading in securities. . 4 Threats * Aggressive promotional strategies by close competitors may hamper Angel Broking’s acceptance by new clients. * Lack of sufficient branch-offices for speedy delivery of services. * More and more players are venturing into this domain, which can further reduce the earnings of Angel Stock Broking Ltd. CHAPTER 6 CONCL USION ; SUGGESTIONS 6. 1 Conclusion On the basis of the study it is found that Angel Broking Ltd. is better services provider than the other stockbrokers because of their timely research and personalized advice on what stocks to buy and sell.Angel Broking Ltd. provides the facility of Trade tiger as well as relationship manager facility for encouragement and protects the interest of the investors. It also provides the information through the internet and mobile alerts that what IPO’s are coming in the market and it also provides its research on the future prospect of the IPO. Study also concludes that people are not much aware of commodity market and while it’s going to be biggest market in India.From the above survey and observation it is found that most of the people who are trading in share market belongs to the employee group, next comes the business men and other class of income people. As the share market value goes on increasing day by day the investor who wants to invest in shares also increasing. But investing in shares is as risky as earning yield. Trading in online trading firm is easy as it all delivered with internet and within a few minutes the customer can buy and sell shares which save time as well as reduction of paper work.Hence trading in share market is increasing day by day and investors are ready to invest their investment in share market only. I got the knowledge about the customer’s needs and their references for having a particular product. The need of customers differs from person to person, area, locality and occupation. Customer always wants more service by paying less. They expect all the information such less rates, less brokerages, highly returns and better service level without delay. W

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Genetic Testing and Genetic Engineering - Essay Example The question is whether it is ethical and right. This question is being raised through the variety of books and films. This paper will accept as a major focus of research the concepts of genetic testing and genetic engineering; the evidence of its observation would be presented through the film â€Å"Gattaca.† Genetic testing uses research facility systems to take a gander at your qualities, which are the DNA directions, which a person acquires from own parents. Hereditary tests may be utilized to distinguish expanded dangers of health issues, to pick medicines, or to evaluate reactions to medications. There are different methods of genetic testing. Molecular genetic tests explore single genes (or short lengths of DNA molecules) to define changes that may force a genetic disorder. Chromosomal genetic testing concerns whole chromosomes or DNAs long lengths to find out if there are severe genetic changes (like an additional copy of a chromosome) that influence on a genetic background. Biochemical genetic tests research the activity level of proteins or their amount. Abnormalities in any can point on changes in the DNA that may result in a disorder in genetics. Genetic testing is voluntary. The main purposes of genetic testing are, first of all, to diagnose disease, to identify changes within genes connected with it, to diagnose the severity of the disease, to help doctors to find the best treatment and medicines to enable to cure.

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Appropriate procedures for terminating a teacher, suspending or expelling a student, and administering corporal punishment - Essay Example For that reason, it is very important that one understands the appropriate procedures in dealing people's concerns within an educational institution. This may as well stresses ones rights towards just and fair judgment in every situation. A certain disciplinary procedure is used in dealing with teachers cases to ensure that should a particular teacher is alleged for any form of misconduct, he may receive fair and consistent judgment. The current law allows termination of teaching contract due to immorality or inefficiency. It also emphasizes that a certain due-process must be complied in terminating teachers (Ohio Legislative Service Commission, 1997). First and foremost, the teacher's employment record should be considered. Hence preliminary investigation should be done. The booklet "Pastoral Care in Schools: Child Protection, which provides supplementary advices and invokes disciplinary procedures when necessary, should be consulted whenever the issues are related to child protection (deni.gov, 2008). Once investigation is completed, the Disciplinary Authority will decide on the appropriate action. Should it be decided that the case invokes formal procedure; the Disciplinary Authority has to ask for advice from the Employing Authority.

Project 4 Essay Example | Topics and Well Written Essays - 500 words

Project 4 - Essay Example However, the issue is that advancements are no longer taking its course. We experience change in lifestyles but the entire people do is to be loyal to certain products and companies. As per the video, competition is currently the mode of every entrepreneur of which the adoption and application of technology influence their market penetration. This indicates that without technological change and adaptation to modern practices business may not gain more. Nonetheless, we may see some other aspects influencing the business environment. These aspects include culture and intense use of social media for advertisement and entertainment that can be used to build successful enterprises. Therefore, as per the video we need to embrace technological innovations and creativity for the future is going to be different. Competition also ensures continuity as each company tries to outwit the other in the market. These in turn is advantageous to clients as they will get quality and connect to the world easily through the Internet (Whittaker & Mike 187). The video is based on a number of technological advancements. With a number of current technological innovations, the video keeps us updated on the extent of our vulnerability brought in by such technological advancements. Although we may benefit from all these advances there are serious risks accompanying them. For instance, a simple car has a lot of connections and computer operated systems that work together to boost its efficiency but when one system fails all there is a fatal accident. Thus, Internet attackers are also everywhere are connected or related in one way of the other. Some attackers work very fast to get information and use them within the shortest time possible to lower their rate of being noticed or detected (Whittaker & Mike 211). In our modern days, we all use mobile phones, but the danger is that

Conduct an external environment analysis for a company (tesco) of your Essay

Conduct an external environment analysis for a company (tesco) of your choice assessing the impact of the external environment o - Essay Example Current paper focuses on the examination of the potential impact of the external environment on the HR policies of a well-known firm in the British grocery industry: Sainsbury’s. The level at which the recession, and other elements of the firm’s external environment, have affected the organization’s HR policies are critically examined using appropriate literature. It is proved that, despite the market pressures, HR policies in Sainsbury’s have been slightly affected by the firm’s external environment, a fact that has been strongly related with the strategic choices of the organization’s leaders. 2. Sainsbury’s – interaction between the external environment and the firm’s HR policies Like all organizations, Sainsbury’s is also highly affected by its external environment. In fact, it could be stated that the external environment of the organization affects all aspects of the firm’s strategies and operations, i ncluded the HR policies. In order to understand the level at which the external environment can influence Sainsbury’s HR policies, it would be necessary to refer to the organization’s performance, as part of the UK grocery industry. Then, the firm’s HR strategy should be presented and compared with the external environment – which is analyzed using the SWOT analysis – aiming to show the key points of impact of the external environment on the HR policies of the organization. 2.1 Overview of the organization Sainsbury’s is one of the major competitors in the UK grocery industry. The firm’s employees have been estimated to 150,000; the firm was first established in 1869 and has now about 890 stores across Britain (Sainsbury’s, corporate website, 2011). The firm is part of the J Sainsbury plc, which activates in many industries, including the banking sector – through the Sainsbury’s bank (Sainsbury’s, corporate website, 2011). The performance of the firm in 2010 has been increased, achieving a profit of ?21,421m, while in 2009 the firm’s profits were estimated to ?20,383m; the specific fact is quite encouraging, taking into consideration the turbulences in the global market – due to the recession which has not been terminated – but also the strong competition in the British grocery industry. Of course, the level of increase of the firm’s profitability may be reduced compared to the past – see Graph 1, Appendix section where the performance of the firm for the third quarter of the years 2008, 2009 and 2010 is compared; in accordance with the above graph, the growth of sales of the firm in the third quarter of 2009 and 2010 may be reduced – compared to the third quarter of 2008 – but it is standardized at a particular level, at a percentage of 3.6%. 2.2 External environment analysis – SWOT analysis The impact of the external environmen t on the firm’s HR policies requires the presentation of the main elements of this environment; the SWOT analysis can be used for highlighting the key characteristics/ trends of the organization’s external environment and their impact on the firm’s HR policies. In the context of the SWOT analysis, the following elements

BUSINESS ECONOMIC ENVIRONMENT LBSEC2051 Essay Example | Topics and Well Written Essays - 1500 words

BUSINESS ECONOMIC ENVIRONMENT LBSEC2051 - Essay Example Similarly, a fall in the price of a particular item shows a rise in the demand for that item. On a graph, a fall in price will show an inward shift of demand curve and a rise in the prices will show an outward shift of the demand curve. The diagram below shows a fall in demand due to a price rise. Figure 2 Shift in Demand – This happens when the demand of a particular item rises or falls due to various factors which include an increase or decrease in the number of consumers; an increase or decrease in the prices of substitute products and complements; a change in consumer incomes (ability to afford that particular item); changes in tastes and preferences of consumers; and price expectations. On a graph, a rise in demand is shown as an outward shift while a fall in demand is shown as an inward shift of the demand curve. [McConnell, Brue, Flynn, 2009] Shift in Supply – This happens when the supply of a particular item rises or falls due to various factors which include an increase or decrease in the prices of the resources used to manufacture that item or render a particular service; an increase in technology which is more likely to increase the supply; an increase or decrease in the number of suppliers; and a rise or fall in the price of a substitute or a complement item. ... For any business, its risk management will be naturally concerned with avoiding such negative factors which could kill the business. Therefore, the first task for any such manager is to identify what might potentially harm GoFast Airlines in the future. Prices of Fuel As a strategist, the first factor to consider is the rising prices of fuel, which is the most important raw material for any form of a travel company today. With the increasing fuel prices, GoFast will naturally have to increase fair prices to cover the costs, while still competing with giants like British Airways which have been there since a longer time and are more financially secure. Higher prices may cause a fall in demand for air travel which can directly reduce the number of fares for GoFast Airlines, as which happened with Singapore Airlines earlier in 2011 [Singapore Business News (SBN), 2011]. This will directly affect their low-price flights approach which, mixed with quality service, gained them the customer base they have today. Economic Recession Economic recession is potentially the most important economic factor which could affect the profitability and the market leadership of GoFast Airlines. In times of economic recession, the consumer’s purchasing power is weaker. In such times, although important corporate business trips may be made anyway, the smaller business may think twice before making an expensive trip. Most importantly, however, leisure trips are more likely to decrease in greater numbers in time of recession than business trips. Even in this situation, the consumer would be able to afford lesser than before and this will affect the number of fares. The demand will naturally fall for flights and so will GoFast’s sales and profitability [Milmo,

Managerial Leadership role for Nurses’ Use of Research Evidence Essay Example for Free

Managerial Leadership role for Nurses’ Use of Research Evidence Essay The rapid noticeable change in healthcare delivery coupled with professional responsibilities of nurses to incorporate research evidence into their decision making underscores the need to understand the factors involved in implementing evidence-based practice. Linking current research findings with patients’ conditions, values, and circumstances is the defining feature of evidence-based practice. Significant and rational for using evidence in practice in nursing care Evidence-based practice (EBP) is an approach to health care where the best evidence possible is used in health professionals to make clinical decisions for individual. It involves complex and conscientious decision-making based on the available evidence, patient characteristics, situations, and preferences( McKibbon, 1998). Evidence-based practice in nursing is defined as â€Å"integration of the best evidence available, nursing expertise, and the values and preferences of the individuals, families and communities who are served† (Sigma Theta Tau International position statement on evidence-based practice February 2007 summary, 2008). The gist of evidence based health care is the integration of individual clinical expertise with the best available external clinical evidence and the values and expectations of the patient. There are different recourses of evidence which includes the following: †¢Research Evidence: which refers to methodologically sound, clinically relevant research about the effectiveness and safety of interventions, the accuracy of assessment measures, the strength of causal relationships and the cost-effectiveness of nursing interventions. †¢Patients Experiences and Preferences: identification and consideration of patient’s experiences and preferences are central to evidence-based decision making. Patients may have varying views about their health care options, depending on factors such as their condition personal values and experiences, degree of aversion to risk, resources, availability of information, cultural beliefs, and family influences. †¢ Clinical Expertise. AS the mixing of these different types of evidence may be influenced by factors in the practice context such as available resources, practice cultures and norms leadership styles, and data management, we must consider the level of evidence while using the research evidence to take the proper decision, look to appendix A which is represent the level of evidence. (Haynes, Devereaux, Guyatt, 2002; Sigma Theta Tau International position statement on evidence-based practice February 2007 summary, 2008). Evidence-based practice is a prominent issue in international health care which is intended to develop and promote an explicit and rational process for clinical decision making that emphasizing the importance of incorporating the best research findings into clinical care to ensure the best possible treatment and care derived from the best available evidence (E. Fineout-Overholt, Levin, Melnyk, 2004) Once a new research is completed new evidence comes into play every day, technology advances, and patients present with unique challenges and personal experiences(Krainovich-Miller, Haber, Yost, Jacobs, 2009). The nurse who bases practice on what was learned in basic nursing education soon becomes outdated, then becomes dangerous. Patients are not safe if they do not receive care that is based on the best evidence available to assist them at the time their needs arise, so all aspects of nursing, from education to management to direct patient care, should be based on the best evidence available at the time (Reavy Tavernier, 2008). Through reviewing the literature there is a dramatically changing and advancing in the technology, available body information and quality of care provided, the rapid pace of change in healthcare delivery coupled with professional responsibilities of nurses to incorporate research evidence into their provided care and decision making underscores the need to understand the factors involved in implementing evidence-based practice (Bostrà ¶m, Ehrenberg, Gustavsson, Wallin, 2009; Ellen Fineout-Overholt, Williamson, Kent, Hutchinson, 2010; Gerrish, et al., 2011; Gifford, Davies, Edwards, Griffin, Lybanon, 2007). Before that nurses must first believe that basing their practice on the best evidence will lead to the highest quality of care and outcomes for patients and their families(Ellen Fineout-Overholt, et al., 2010; Melnyk, et al., 2004). To let change occuring, â€Å"there must be a clear vision, written goals, and a well-developed strategic plan, including strategies for overcoming anticipated barriers along the course of the change†(Melnyk, et al., 2004). Emerging evidence indicates that the  leadership behaviors of nurse managers and administrators play an important role in successfully utlizing research evidence into clinical nursing(Amabile, Schatzel, Moneta, Kramer, 2004; Antrobus Kitson, 1999; Gifford, et al., 2007). There is a consistency between many researches that clamethe importance role of the leadership and leadership factors such as support and commitment of managers on the staff at the implication of EBP(Aitken, et al., 2011; Antrobus Kitson, 1999; Melnyk, et al., 2004; Winch, Creedy, Chaboyer, 2002). Nurse managers and administrators are responsible for the professional practice environments where nurses provide care, and are strategically positioned to enable nurses to use research. As being a role model, administrators must be committed to provide the necessary resources such as EBP mentors, computers, and EBP education. Some administrators have tried to encourage a change to EBP by integrating EBP competencies into clinical promotions. However, Miller (2010) argue that this extrinsic motivational strategy is unlikely to be as effective as when people are intrinsically motivated to change. Also there is a claimed that if people are involved in the strategic planning process, they ar e more likely to change to EBP. Intervention protocol for promoting nurses compliance to EBP As the Decision making in health care has changed dramatically, with nurses expected to make choices which based on the best available evidence and continually review them as new evidence comes to light (Pearson et al, 2007). Evidence-based practice involves the use of reliable, explicit and judicious evidence to make decisions about the care of individual patients. As an important role in providing safe and high quality care the nurses must take into account the quality of evidence, assessing the degree to which it meets the four principles of feasibility, appropriateness, meaningfulness and (Doody Doody, 2011; Johnson, Gardner, Kelly, Maas, McCloskey, 1991). What nurses need to operate in an evidence-based manner, is to be aware of how to introduce, develop and evaluate evidence-based practice. There more than one model for introducing the EBP in health care one of them that I chose is the Iowa model. The Iowa model focuses on organization and collaboration incorporating conduct use of research, along with other types of evidence(Doody Doody, 2011; Johnson, et al., 1991). Since its origin in 1994, it has been continually referenced in nursing journal articles and extensively used in clinical research programmes. This model uses key triggers that can be either problem focused or knowledge focused, leading staff to question current nursing practices and whether care can be improved through the use of current research findings(Bauer, 2010; Doody Doody, 2011; Johnson, et al., 1991; Titler, et al., 2001). By using Iowa Model; a question is generated either from a problem or as a result of becoming aware of new knowledge. Then a determination is made about the question relevance to organizational priorities. If the question posed is relevant, then the next step is to determine if there is any evidence to answer the question. Once the evidence has been examined, if there is sufficient evidence, then a pilot of the practice change is performed. If there is insufficient evidence, then the model supports that new evidence should be generated through research (Bauer, 2010). Step one of the Iowa model is to formulate a question. The question if asked in a PICO format is easier to use to search the literature. A PICO format uses the following method to frame the question: Frame question in PICO format †¢ P= Population of interest †¢ I= Intervention †¢ C= Comparison of what you will do †¢ O= Outcome(Hoogendam, de Vries Robbà ©, Overbeke, 2012). The final step to the process is to share the outcomes of the practice change with other in the form of an article or poster. In using the Iowa model, there are seven steps to follow in detail as it is outlined in the figure shown in appendix B. Step 1: Selection of a topic In selecting a topic for evidence-based practice, several factors need to be considered. These include the priority and magnitude of the problem, its application to all areas of practice, its contribution to improving care, the availability of data and evidence in the problem area, the multidisciplinary nature of the problem, and the commitment of staff. Step 2: Forming a team The team is responsible for development, implementation, and evaluation. The composition of the team should be directed by the chosen topic and include all interested stakeholders. The process of changing a specific area of practice will be assisted by specialist staff team members, who can provide input and support, and discuss the practicality of guideline. A bottom-up approach to implementing evidence-based practice is essential as change is more successful when initiated by frontline practitioners, rather than imposed by management. Staff support is also important. Without the necessary resources and managerial involvement, the team will not feel they have the authority to change care or the support from their organization to implement the change in practice. To develop evidence-based practice at unit level, the team should draw up written policies, procedures and guidelines that are evidence based. Interaction should take place between the organization’s direct care providers and management such as nurse managers, to support these changes(Antrobus Kitson, 1999; Cookson, 2005; Doody Doody, 2011; Hughes, Duke, Bamford, Moss, 2006). Step 3: Evidence retrieval Evidence should be retrieved through electronic databases such as Cinahl, Medline, Cochrane and up-to-date web site. Step 4: Grading the evidence To grade the evidence, the team will address quality areas of the individual research and the strength of the body of evidence overall (see appendix A for level of evidence). Step 5: Developing an Evidence-Based Practice (EBP) standard After a critique of the literature, team members come together to set recommendations for practice. The type and strength of evidence used in practice needs to be and based in the consistency of replicated studies. The design of the studies and recommendations made should be based on identifiable benefits and risks to the patient. This sets the standard of practice guidelines, assessments, actions, and treatment as required. These will be based on the group decision, considering the relevance for practice, its feasibility, appropriateness, meaningfulness, and effectiveness for practice. To support evidence-based practice, guidelines should be devised for the patient group, health screening issues addressed, and policy and procedural guidelines devised highlighting frequency and areas of screening. Evidence-based practice is ideally a patient centered approach, which when implemented is highly individualized. Step 6: Implementing EPB For implementation to occur, aspects such as written policy, procedures and guidelines that are evidence based need to be considered. There needs to be a direct interaction between the direct care providers, the organization, and its leadership roles (e.g. nurse managers) to support these changes. The evidence also needs to be diffused and should focus on its strengths and perceived benefits, including the manner in which it is communicated. This can be achieved through in-service education, audit and feedback provided by team members. Social and organizational factors can affect implementation and there needs to be support and value placed on the integration of evidence into practice and the application of research findings(Aitken, et al., 2011; Doody Doody, 2011; Gerrish, et al., 2011; Reavy Tavernier, 2008) Step 7: Evaluation Evaluation is essential to seeing the value and contribution of the evidence into practice. A baseline of the data before implementation would benefit, as it would show how the evidence has contributed to patient care. Audit and feedback through the process of implementation should be conducted and support from leaders and the organization is needed for success. Evaluation will highlight the programme’s impact. Barriers also need to be identified. Information and skill deficit are common barriers to evidence-based practice. A lack of knowledge regarding the indications and contraindications, current recommendations, and guidelines or results of research, has the potential to cause nurses to feel they do not have sufficient training, skill or expertise to implement the change. Awareness of evidence must be increased to promote the translation of evidence into practice . A useful method for identifying perceived barriers is the use of a force field analysis conducted by the team leader. Impact evaluation, which relates to the immediate effect of the intervention, should be carried out. However, some benefits may only become apparent after a considerable period of time. This is known as the sleep effect. On the contrary, the back-sliding effect could also occur where the intervention has a more or less immediate effect, which decreases over time. We must not to evaluate  too late, to avoid missing the measures of the immediate impact. Even if we do observe the early effect, we cannot assume it will last. Therefore, evaluation should be carried out at different periods during and following the intervention (Doody Doody, 2011). Nursing leadership is an essential role for promoting evidence-based practice while the nurse managers and administrators are responsible for the professional practice environments where nurses provide care, are strategically positioned to enable nurses to use research. AS the leadership is essential for creating change for effective patient care the leadership behaviors are critical in successfully influencing the stimulation, acceptance, and utilization of innovations in organizations (Antrobus Kitson, 1999; Gifford, et al., 2007). From my perspective I consider that the leaders and managers are the corner stone for utilizing researches and make practices based on evidence. By playing a role model for staff and handling the authority they have a magic force to urges the staff to use evidence based in there practice. Leaders can encourage the staff to use EBP in their practice in several ways such as increase the staff awareness, stimulating the intrinsic motivation of people, implying an effort to increase the will and internal desire to change through support encouragement, education, and appealing to a common purpose, monitoring performance, strengthen the body of knowledge that the staff have by forcing them to attend and participate in conferences, workshops Journal clups, giving rewards to staff who collaborate in finding, utilizing and applying the EBP and make promotion and appraisal according to adherence to application of EBP. Implication of EBP For implementation to occur, aspects such as written policy, procedures and guidelines that are evidence based need to be considered. There needs to be a direct interaction between the direct care providers, the organization, and its leadership roles (e.g. nurse managers) to support these changes. The evidence also needs to be diffused and should focus on its strengths and perceived benefits, including the manner in which it is communicated. This can be achieved through in-service education, audit and feedback provided by team members. Social and organizational factors can affect implementation and there needs to be support and value placed on the integration of evidence into practice and the application of research findings. There are many ways that can be used to create an environment to implement and sustain an area of EBP such as : -Development of EBP champions; Use of EBP mentors; Provision of resources such as time and money; Creation of a culture and expectation related to EBP; Use of practical strategies including EBP workgroups, journal club and nursing rounds (Aitken, et al., 2011). EBP is being used in every aspect of the life, especially in the health care. The most common application of EBP is not only in intervention or treatment plane, but also the EBP process has been applied to making choices about diagnostic tests and protocols to insure thorough and accurate diagnosis, selecting preventive or harm-reduction interventions or programs, determining the etiology of a disorder or illness, determining the course or progression of a disorder or illness, determining the prevalence of symptoms as part of establishing or refining diagnostic criteria, completing economic decision-making about medical and social service programs. Nursing research proves pivotal to achieving Magnet recognition, yet the term research often evokes an hunch of mystery. Most of the policy, guidelines. And protocols that guide the work in the organization are based on evidance (Weeks Satusky, 2005). Also, it is also useful to think of EBP as a much larger social movement. Drisko and Grady (2012) argue that at a macro-level, EBP is actively used by policy makers to shape service delivery and funding. EBP is impacting the kinds of interventions that agencies offer, and even shaping how supervision is done. EBP is establishing a hierarchy of research evidence that is privileging experimental research over other ways of knowing. There are other aspects of EBP beyond the core practice decision-making process that are re-shaping social work practice, social work education, and our clients lives. As such, it may be viewed as a public idea or a social movement at a macro level (Evidence-Based Practice: Why Does It Matter?, 2012). Cost effectiveness of using EBP in health care  Beneficial outcomes of the implementation and use of evidence-based practice by staff nurses include increased ability to offer safe, cost-effective,  and patient-specific interventions. Critical thinking skills and leadership abilities can also grow because of the use of evidence based practice; it is a way for staff nurses to become involved in change and regain ownership of their practice (Reavy Tavernier, 2008). EBP used in clinical practice lead to make improvement in quality of provided care, which lead to improve the patients outcome, patient satisfaction and employee satisfaction. All these aspect are directly and indirectly lead to increase the cost effectiveness of the organization. When the patient satisfaction increased the patient acceptance to the organization increased, the employee satisfaction also increases and turnover will decrease all these things will increase the financial revenue to the organization. Also when using EBP in health care this will lead to decrease errors, complications and losses (e.g. compliance of evidence based infection control guidelines will lead to decrease incidence of infection, decrease length of stay an d decrease the cost of patient treatment), another example is using EBP to treat diabetic foot will result in decreasing the loses and increases the satisfaction so adherence to EBP will be costly effective when it result in better outcome, quality of care and satisfaction. Sometimes using EBP in certain area is costly; in such cases we must weighing the benefits ( immediately and after considered period of time) and mak e our decision based on the collected data and information. References: Aitken, L. M., Hackwood, B., Crouch, S., Clayton, S., West, N., Carney, D., et al. (2011). Creating an environment to implement and sustain evidence based practice: A developmental process. Australian Critical Care, 24(4), 244-254. Amabile, T. M., Schatzel, E. A., Moneta, G. B., Kramer, S. J. (2004). Leader behaviors and the work environment for creativity: Perceived leader support. The Leadership Quarterly, 15(1), 5-32. Antrobus, S., Kitson, A. (1999). Nursing leadership: influencing and shaping health policy and nursing practice. Journal of Advanced Nursing, 29(3), 746-753. Bauer, C. (2010). Evidence Based Practice:Demystifying the Iowa Model Providing optimal care through promotion of professional standard, networking and development, 25(2). Bostrà ¶m, A.-M., Ehrenberg, A., Gustavsson, J. P., Wallin, L. (2009). Registered nurses application of evidence-based practice: a national survey. Journal Of Evaluation In Clinical Practice, 15(6), 1159-1163. Cookson, R. (2005). Evidence-based policy making in health care: what it is and what it isnt. Journal Of Health Services Research Policy, 10(2), 118-121. Doody, C. M., Doody, O. (2011). Introducing evidence into nursing practice: using the IOWA model. British Journal of Nursing, 20(11), 661-664. Evidence-Based Practice: Why Does It Matter? (2012). ISNA Bulletin, 39(1), 6-10. Fineout-Overholt, E., Levin, R. F., Melnyk, B. M. (2004). Strategies for advancing evidence-based practice in clinical settings. Journal of the New York State Nurses Association, 35(2), 28-32. Fineout-Overholt, E., Williamson, K. M., Kent, B., Hutchinson, A. M. (2010). Teaching EBP: strategies for achieving sustainable organizational change toward evidence-based practice. Worldviews On Evidence-Based Nursing / Sigma Theta Tau International, Honor Society Of Nursing, 7(1), 51-53. Gerrish, K., Guillaume, L., Kirshbaum, M., McDonnell, A., Tod, A., Nolan, M. (2011). Factors influencing the contribution of advanced practice nurses to promoting evidence-based practice among front-line nurses: findings from a cross-sectional survey. Journal of Advanced Nursing, 67(5), 1079-1090. Gifford, W., Davies, B., Edwards, N., Griffin, P., Lybanon, V. (2007). Managerial leadership for nurses use of research evidence: an integrative review of the literature. Worldviews on Evidence-Based Nursing, 4(3), 126-145. Haynes, R. B., Devereaux, P. J., Guyatt, G. H. (2002). Clinical expertise in the era of evidence-based medicine and patient choice. ACP Journal Club, 136(2), A11-A14. Hoogendam, A., de Vries Robbà ©, P. F., Overbeke, A. J. P. M. (2012). Comparing patient characteristics, type of intervention, control, and outcome (PICO) queries with unguided searching: a randomized controlled crossover trial. Journal Of The Medical Library Association: JMLA, 100(2), 121-126. Hughes, F., Duke, J., Bamford, A., Moss, C. (2006). Enhancing nursing leadership: Through policy, politics, and strategic alliances. Nurse Leader, 4(2), 24-27. Johnson, M., Gardner, D., Kelly, K., Maas, M., McCloskey, J. C. (1991). The Iowa Model: a proposed model for nursing administration. Nursing Economic$, 9(4), 255-262. Krainovich-Miller, B., Haber, J., Yost, J., Jacobs, S. K. (2009). Evidence-based practice challenge: teaching critical appraisal of systematic reviews and clinical practice guidelines to graduate students. Journal of Nursing Education, 48(4), 186-195. Melnyk, B. M., Fineout-Overholt, E., Feinstein, N. F., Li, H., Small, L., Wilcox, L., et al. (2004). Nurses perceived knowledge, beliefs, skills, and needs regarding evidence-based practice: implications for accelerating the paradigm shift. Worldviews on Evidence-Based Nursing, 1(3), 185-193. Reavy, K., Tavernier, S. (2008). Nurses reclaiming ownership of their practice: implementation of an evidence-based practice model and process. Journal of Continuing Education in Nursing, 39(4), 166-172. Sigma Theta Tau International position statement on evidence-based practice February 2007 summary. (2008). Worldviews on Evidence-Based Nursing, 5(2), 57-59. Titler, M. G., Kleiber, C., Steelman, V. J., Rakel, B. A., Budreau, G., Everett, C. L. Q., et al. (2001). The Iowa Model of Evidence-Based Practice to Promote Quality Care. Critical Care Nursing Clinics of North America, 13(4), 497-509. Weeks, S. K., Satusky, M. J. (2005). Demystifying nursing research: to encourage compliance with Magnet accreditation standards, further you r facilitys research initiatives. Nursing Management, 36(2), 42. Winch, S., Creedy, D., Chaboyer, W. (2002). Governing nursing conduct: the rise of evidence-based practice. Nursing Inquiry, 9(3), 156-161.