Word of the Week! Splenetic Richmond Writing

Word of the Week! Splenetic Richmond Writing Professor Joe Hoyle in our School of Business spotted this word in a column by George F. Will, critiquing President Trump and his incessantly splenetic presidency. Whatever ones politics, one really must admit that Will has a way with words. Thus he picks what author Joe Glaser, in his book Understanding Style, calls a neutral word: it is not derogatory or connotative. It simply states, in its original sense, that the man is more ruled by his spleen than any other organ. The OED, a bit far down in its list of definitions, defines our word as given or liable to fits of angry impatience or irritability. Since the 16th Century the term has also meant, and still can mean, one with disorders of the spleen, though the definition is now obsolete. As a term relating, generally, to the spleen, it remains in current use. So how does a spleen make one short-tempered? The idea goes far back into medical history, with the now quaint idea of four humours that govern the body. If ones spleen produces too much black bile then the person would have a Melancholic personality; that is also an early synonym for splenetic. Please nominate a word or metaphor useful in academic writing by e-mailing me (jessid -at- richmond -dot- edu) or leaving a comment below. See all of our Metaphors of the Month  here  and Words of the Week  here. Creative Commons image  from the Wellcome Collection courtesy of Wikipedia.

Describe The Importance Of Natural Vegetation Importance - 550 Words

Describe The Importance Of Natural Vegetation Importance (Essay Sample) Content: Natural Vegetation ConservationNameInstitution/ AffiliationNatural vegetation conservationNatural Vegetation forms an important component of the ecosystem that is very useful in environmental conservation through regulation of biogeochemical elements. Additionally, it plays a great role in the global energy balancing by controlling the radiative and non-radiative surface on the earth. Natural vegetation refers to all plants that cover the surface of the earth without the interventions of human beings and mostly are controlled by climatic conditions of the region. Hence, the essay aims to describe the importance of the natural vegetation conservation with illustrations drawn from the aquatic life.Interestingly, natural vegetation forms a large percentage of habitation for living organisms as well as wildlife. Additionally, the vegetation also helps in the camouflage of animals from their predators. Furthermore, animals use vegetation as mating and hiding grounds of the ir offsprings before they mature enough to be on their own. For instance, hanging plants along river banks provide shelter and hiding grounds for fish as well as other aquatic life.Additionally, vegetation is the essential to base all food chains for both the domestic and wildlife animals as well as humans through the conversion of solar energy to biomass. In that regard, vegetation helps in the soil development and formation, hence, improving the soil productivity. Furthermore, vegetation plays a great role in the prevention of soil erosion and maintaining of soil cycle. Through the photosynthesis process, plants utilize the carbon (IV) oxide water and give back oxygen used by living organisms among them human beings.Vegetation assumes the role of provision of both direct and indirect social and economic resources to human beings. Most people rely much on plants materials like trees to build shelters, furniture, transport and clothing. Hence, the emergence of most of industries and youths who utilize the resources to make products and art facts and as a result reducing unemployment in most parts of the world.Furthermore, vegetation also creates different forms of attractive, recreation and relaxation sites on earth. Often, human being finds most of their times on forests for adventures and hiking activities as a way of killing boredom and leisure. This in return plays a role in environmental conservancy and also promoting eco-tourism. It is through vegetation that wildlife is born and thrives which in turn yields national parks and animal orphanages where humans visit to enjoy nature.Finally, the natural vegetation is commonly used for both spiritual and medicinal value in most countries in the world. Most of the people in different regions have their culture attached to the land and specific type of plants which they consider spiritua...

Persuasive Essay Topics on Henry Ford: No Longer a Mystery

Persuasive Essay Topics on Henry Ford: No Longer a Mystery The Persuasive Essay Topics on Henry Ford Game It's important to understand that essay topics are just basic ideas that leave you pondering an idea that might be a huge deal to another person. In case you haven't been given a specific topic by your tutor, you are fortunate and unlucky at precisely the same time. Sometimes, obtaining a list of topics can be just what you will need to finally decide on the ideal explanatory essay topic and get writing! There are many intriguing topics that could be become a persuasive essay if you take the opportunity to think about doing it. We've divided the topics into several groups to help it become simpler to get the one you truly wish to speak about. We've produced a list of topics to safeguard your audience laughs all of the way. Fun element is engaged in all elements of writing. Awareness depending on the internet and self-service application software is a significant tool in marketing. The Fight Against Persuasive Essay Topics on Henry Ford Being a real veterinarian looks like a difficult job. Marriages were torn apart, due to the absence of money. School holidays must be twice as long. Using Persuasive Essay Topics on Henry Ford Guns ought to be made illegal. Athletes should not be permitted to move teams. He's also seen among America's leading businessmen. Famous people set a terrible example for kids. The Tried and True Method for Persuasive Essay Topics on Henry Ford in Step by Step Detail People did not reproduce in the pure way and were selected in line with the qualities and techniques needed for the benefit of the society. Today's entrepreneur is frequently a self-starter, a tough worker and likes to compete. Everyone can grow to be a millionaire. Want to Know More About Persuasive Essay Topics on Henry Ford? It's true that you could simply quit eating. Dangerous animals ought to be killed. Fast food needs to be banned in schools. It should be taxed. You need to have critical thinking, use logic and reasoning to spot strengths and weakness of solutions as soon as it comes to problems. So as managers, we should earn a rational use of unique trends of leadership according to different circumstance. You'll also have to conduct effective research, obtaining facts and evidence to back up your ideas. In my private opinion everything needs to be basic understanding. Inside my perspective of life, it's about risk. It will be a lot better if you take a specific element, or period, of this life, and attempt to analyze it. These social relationships were created with differently-scaled men and women, combining executive and low-level individuals when it comes to financial status. But problems started to arise. The One Thing to Do for Persuasive Essay Topics on Henry Ford It's required you have a 4 year bachelor's degree together with your veterinarian doctorate degree. Achievement of desire is the thing that motivates us. There's one certain career which I want and I understand I would enjoy and love doing. The voting age has to be lowered. Persuasive Essay Topics on Henry Ford Secrets In October 1929 the stock exchange crashed. Money is important but only utilized as a method of keeping score. I would be making a lot of money along with enjoying my job. How to Choose Persuasive Essay Topics on Henry Ford In this manner, production ma naged to proceed without delays from suppliers or the cost of stockpiling. To attain this, the business has allied with unique institutions. There are numerous job offerings to turn into an exotic veterinarian annually. Cars should carry a greater tax. The expense of alcohol should be reduced. Vitamins added to foods are indispensable for the future. R-Rated films ought to be made available for younger viewers. Cigarettes need to be more expensive. The Birth of Persuasive Essay Topics on Henry Ford I have begun to like several forms of careers that I'll enjoy and that I'm good at as of right now. At the fundamental level, there's a motivation to call home. Male and female players ought to be allowed on the exact sports teams. Families with patients become educated by the system on leaving a wholesome life and take part in community organizations programs. To help you keep informed, we've listed websites that address healthcare policy topics. Additional teachers are necessary to train these students. The Hidden Truth About Persuasive Essay Topics on Henry Ford He changed the automobile industry in quite a few ways. You might also pick a different direction. At the moment, just a few cars were assembled per day, and groups of a couple of workers built them by hand from parts which were ordered from different businesses. Many of the cars which were created were experimental and never were sold to the general public, but there were a few successful models.

Design Thinking - 1006 Words

Case report---Design Thinking and Innovation at Apple Qi YU Q1. Why has Apple been so successful? What do you attribute it to? For several years, Apple has been ranked as the most innovative company in the world, but how it has achieved such success remains mysterious because of the company s obsession with secrecy. Now researchers and business men have found more about its success. According to the case, the main reasons are showed as following. Product: 1. Technology innovation Computers, music players, smartphones, etc are major products at Apple. In this field, technology is the first consideration. Constant innovation keeps Apple as the pioneer; otherwise, it cannot even exist. â€Å"Think differently†, is always what stuff†¦show more content†¦Ã¢â‚¬Å"†¦the best way is to design software at Apple is with the customer, which is now called participatory design.† Interactive customer involvement in the design process guarantees that the products meet the expectations from customers. They create their â€Å"beautiful products† for their customers. Moreover, the most successful point is that Apple educate and cultivate the customers, and when Apple has been culture internationally, it has obtained success in business and society. Distribution channels 4. Distribution channels Apple has hundreds of Apple Stores worldwide. Although Dell succeeded with Internet sales, Apple chooses â€Å"brick store† but not â€Å"click store†. Dell’s pattern cuts down cost and improves the profits accordingly in short term, however, it also makes Dell lose potential consumers. In the other way, the Retail stores bring Apple more customers; â€Å"foot traffic† attracts curious customers to step into the store and try the products; in this way, Apple can be more accessible. Apple also builds flagship stores in major cities of each country, these stores act as a place for experiment marketing. Execution and Leadership 5. Excellence in Execution and Leadership A good founder and leader is always the reason for success. Steve Jobs and Apple seem like interchangeable terms. Jobs insists his idea and ways to manage his business. His ability, confidence, sensibility and innovative thinking contribute toShow MoreRelatedDesign Thinking And The Design Essay1110 Words   |  5 Pagesthe design students are encouraged to keep personal blogs such as Tumblr and WordPress as it is a great way of receiving feedback and a great way of development. On the other hand, through share inspiration it allows the individuals to get started with some ideas.[6] From all these sources, developing a broader understanding, how things have transformed. Design thinking has become a way of problem solving for a wide range of companies. Tim Brown, CEO and President of IDEO, Design thinking is aRead MoreDesign Thinking4621 Words   |  19 PagesDESIGN THINKING Summative Assignment DSM5A1 – Graeme Campbell Lorenzo Robuschi S00607430 05/12/2014 Define the Concept of Design Thinking Design Thinking The global corporate world is engaged in the continuous process of searching for ways in which it can improve its performance. As businesses become more and more competitive with each other, employers and business managers have to continually seek ways by means of which they can improve their performance and developRead MoreDesign Thinking Paper1539 Words   |  7 PagesRunning Head: DESIGN THINKING PAPER Design Thinking Paper Week 7 Assignment Lucia Bastian John F. Kennedy University August 16th, 2010 DESIGN THINKING PAPER Abstract This paper is to define â€Å"Design Thinking† and explain how it can be used by organizations to improve their level of innovation in product development and service delivery. It further describes some examples of how organizations that continuously use design thinking proved to be very successful and talks about their principles andRead More Design Thinking Essay examples1197 Words   |  5 PagesDesign thinking is a process for practical, creative resolution of problems or issues that looks for an improved future result. It is the essential ability to combine empathy, creativity and rationality to meet user needs and drive business success. Unlike analytical thinking, design thinking is a creative process based around the building up of ideas. There are no judgments early on the design thinking (Simon, 1969, p. 55). Design thinking includes imagination and reason, a combination of convergentRead MoreDesigning An Article On Design Thinking Essay1419 Words   |  6 PagesDe sign Thinking I have been researching about Design Thinking and the vital role that reinterpretation plays in the design process and reviews. Moreover, to discover more information, I used the library, Google Scholar and ACM Digital Library and various magazines, blogs and articles. I used speech marks on the phrase â€Å"Design Thinking† before entering it on the search engines. The purpose of this is to ensure I discover appropriate information. I have selected the book Design Studies by CatherineRead MoreDesign Thinking And Project Management866 Words   |  4 PagesDesign Thinking and Project Management Manage product teams which is incorporated usability and design methodologies into the design The business world is rapidly changing where design is changing. Design thinking works is not just visual design. Introduction to the design and project management Design thinking is enormously increasing in the organizations. Most leading organizations like Apple, Coca-Cola, IBM, GE, Nike are helping the project managers to build strong knowledge on design, thinkingRead MoreDesign, Thinking and Innovation at Apple1387 Words   |  6 Pagesand philosophy. In Apple, employees think that they can change the world and bring completely new values to the customers by design and innovation. They not only want to deliver these new values in a simple way, but also want to provide the customers with functionalities and features they need and that are competitive. Apple is capable of applying simplicity to the design and innovation of their products and at the same time considering customers needs. While living this vision and philosophyRead MoreIterative Process Of Design Thinking Essay2111 Words   |  9 Pages1. What does an â€Å"iterative process† mean in the context of design thinking? Iterative process in design thinking is defined as method of designing various products where it undergoes number of tests and analyzed constantly to make a product that is flawless before the product is released into the market. It is a cyclic process of prototyping, testing, analyzing and refining the product or process. On the basis of the results found in this process necessary and changes are made accordingly. ProductsRead MoreDesign Thinking And The Developmental Program Essay1955 Words   |  8 PagesA. Introduction Organizations with design thinking can collect data at all organizational levels of their organizations through their choice of methods, at both regular time periods and on an ongoing basis to find the necessary information. â€Å"Such a strategy can eliminate unnecessary relationships; register inputs from the external environment accurately (i.e. more avenues of direct communication to the environment with less filtering) and create more opportunities for autonomous information for gatheringRead MoreDesign Thinking and Innovation at Apple1000 Words   |  4 Pagesimpact personal computing will have on individuals once they were able to see how beneficial the personal computers could be. It was essential these machines were highly user friendly. Apple achieved this by incorporating simplicity in the product design internally: by attending to the minutest detail in the product, evaluating whether a part or feature is really required, adopting new technologies, and externally: explo ring different materials and approaches, enhancing customer experience by creating

A Reflection On Awakening Alcoholic Anonymous Meeting

In this paper, I will be writing about my reflection and reaction to an Upon Awakening Alcoholic Anonymous meeting which was held at the Unity of Sedona Church, 65 Deer Trail in Sedona, Arizona on Thursday, October 29, 2015. This meeting was held at 7:30 AM in the morning. The meeting consisted of an eleven step grouping of middle aged men and women ranging from ages 30 to 65 years old. There were seven men and thirteen women whose purpose was to practice prayer through the eleventh step of the Big Book. The meeting started out with an introduction of everyone who was present. They stated their names and said they were alcoholics and how long they had been sober. They continued to go over old business, and then proceeded to read from the Alcoholics Anonymous Big Book, the Third Step Prayer. The prayer was about releasing one’s self of their bondage. A gong wash was performed, followed by fifteen minutes of meditation. Participants came forward to share their reflection of the Third Step Prayer. Jean was the first one to come forward to speak and her thoughts were; â€Å"One’s self must be the one to relieve the bondage to and from one’s self’s defects. One must learn to discover, undercover, and discard one’s bondage by believing within.† A woman named Deb got up and informed us that she was a servant to her creativity. She claimed that she needed to find regularity and she welcomed discomfort. Nancy didn’t under- stand the Third Step Prayer. She could not admit that she wasShow MoreRelatedAn Outsider s Perspective On An Alcoholics Anonymous Meeting Essay1683 Words   |  7 PagesAn Outsider’s Perspective on an Alcoholics Anonymous Meeting I was given this assignment to do as an observation on an Alcoholics Anonymous Meeting and had to write a paper on what I have observed. I did not know if I could do this without feeling self-indulgence toward the members. After speaking to a member, I could not believe the sensation of listening to that person’s short history of battling Alcoholism. I m glad to be there to learn their negative and positive outcomes in their lives. GroupRead MoreThe Effects Of Alcoholism On The Alcoholic874 Words   |  4 Pagesthe alcoholic and the people around them, but it does so in a much different way than a disease such as cancer. Instead, alcoholism is a disease of both physical and mental dependence. Most diseases are treated by surgery or medication, but the only way to fix the problem of alcohol abuse is by changing the mindset of the alcoholic. This is why Hazelden Betty Ford uses mental adjustment techniques to treat alcoholics at its centers. Their philosophy relies on the fact that the alcoholic is mentallyRead MoreEssay about The Key Change Needed for an Alcohic to Recover596 Words   |  3 Pageschange that occurs in mind of an alcoholic. This change is the ultimate key that unlocks the door to recovery. Additionally, the appendix describes how the process of recovery is paved with religious experiences. It is believed that a religious experience must be sudden or spectacular. However, the appendix states that everyones experience is personal and unique. However, this is a very difficult experience to embrace. This is the very element that forces alcoholics to finally confront and overcomeRead MoreThe Ten Steps Of Narcotics Anonymous1437 Words   |  6 PagesTwelve Steps of Narcotics Anonymous? If you are suffering from a drug addiction, you ve likely heard of groups like Narcotics Anonymous and their dedication to the 12-step process. However, few people really understand what these 12-steps entail and how they can be used to overcome addiction. Understanding them can help you decide whether this process is right for you. What Is Narcotics Anonymous? Narcotics Anonymous or NA is something of a sister program to Alcoholics Anonymous. It was founded in 1953Read MoreLibrary Management204752 Words   |  820 Pagescollection. Dewey is also engaged in a number of so-called larger interests. He is considering beginning a new reference service for students. He has established a new series of bibliographic lectures. He recently invited 72 New York City librarians to a meeting at Columbia where they voted to form a New York Library Club whose â€Å"object will be by consultation and cooperation to increase the usefulness and promote the interests of the libraries of New York.† Dewey also has been talking about starting a newRead MoreManaging Information Technology (7th Edition)239873 Words   |  960 Pagesthis textbook and have provided valuable feedback to us directly, or responded to review requests by our publisher, since the first edition in 1991. The list is too long to provide here, but we hope that all of you will accept our collective, anonymous Thank You! Special thanks also go to academic colleagues (mostly current and prior Indiana University faculty and students) who have coauthored content for specific chapters that can still be found in this edition: Susan A. Brown, Dong-Gil KoRead MoreFundamentals of Hrm263904 Words   |  1056 PagesEvaluations 249 360-Degree Appraisals 250 xii Contents Compensation Surveys 270 Wage Curves 270 The Wage Structure 271 WORKPLACE ISSUES: Team Performance Appraisals 250 Rate Selectively 251 Train Appraisers 251 The Performance Appraisal Meeting 251 International Performance Appraisal 253 Who Performs the Evaluation? 253 Evaluation Formats 253 DID YOU KNOW?: Performance Metrics in China 254 Summary 254 Demonstrating Comprehension: Questions for Review 255 Key Terms 255 256 HRM Workshop

Apply Effective Communication Skills - 6081 Words

No. | Statement | Passive | Assertive | Aggressive | 1. | I often talk with my hand over my mouth | X | | | 2. | I can say No without feeling guilty | | x | | 3. | I stare at people I don’t like | | | X | 4. | I answer for others in a group | | X | | 5. | When I say ‘I’m angry’ I smile | | x | | 6. | I apologise for conditions (eg weather) outside my control | X | | | 7. | I keep control of my emotions | | X | | 8. | I do not forgive mistakes easily | | | X | 9. | I make mistakes sometimes | | x | | 10. | When questioned I often say, ‘nothing, just thinking’ | x | | | 11. | Conversation gets going when I join a group | | X | | 12. | Others say I am a good listener | | X | | Activity 2.1†¦show more content†¦You are aware that there are a number of factors that influence the care that is being given in this ward†¦Ã¢â‚¬ ¦ 1. Suggest a time of the day that would probably be most suitable for this meeting. Explain why you have chosen this time. End of shift change- as to not put extra pressure on the other nurses on the ward in your absence, also after shift change the problems are still fresh in the mind and won’t be forgotten as easily and therefore more likely to be resolved. 2. What would you consider to be the goal of this team/group? -working out why staff are ill often. -how to work with, and utilise the student nurses more effectively. - The EN:RN ratios, - Community education- ideas on prevention of illness. 3. What attributes do you think you could bring to this group? I think I would bring some new ideas on how to approach different issues and a different perspective. After being on the ward for the last three years, the experience on how that ward has been working and the ways in which I think things could be done more effective. It is your first meeting. Mary is the CNC, Lucy is the CN, Jane the RN and yourself the EN. The meeting begins with complaints by all members that the reason why the nursing care is not up to standard is that there is too much work and too few people who know what they are doing. Jane then asks the group why you have been included, as you are not a registered nurse. Your immediateShow MoreRelatedHuman Existence Be Possible Without Communication Essay1451 Words   |  6 Pagesexistence be possible without communication? How would human beings interact with each other and the environment, develop relationships, and understand the environment without communication? Basically, communication is the most significant factor across societies that plays a crucial role in shaping human destiny. The concept and process of communication has attracted several definitions because of the varying considerations of its significance in human life. Communication is defined as a tool for managingRead M oreEffective Communication Is Enhanced By Good Communication Skills1322 Words   |  6 PagesCommunication involves the exchange of ideas and thoughts between two or more people with the aim of conveying information. Effective communication is enhanced by good communication skills. Good communication skills are important in all walks of life because it enables people to interact and convey information in an effective manner. For example, a doctor requires good communication skills in order to get the needed information from a patient. Failure to portray good communication skills by the doctorRead MoreThe Importance Of Communication And A Sports Coach1719 Words   |  7 PagesIn the topic of communication and care, one will be the discussing the importance of having interpersonal skills and written communication in sports coaching. This essay will also include the variety of skills a coach will need to progress in their line of business. In this essay, we will also be reviewing the positives and negatives of these forms of communication and how they can affect the job as a sports coach. Most say that communication is key to success in both the sports and business societyRead MoreBusiness Communication : Personal And Job Related Situations799 Words   |  4 PagesAssignment San Joaquin Valley College â€Æ' Business communication is essential to personal and job related situations. Think about how much people use communication in their lives, through verbal, non-verbal, and by listening to others. Effective communication skills are vital to build successful relationships with friends, family, and employers. Both the speaker and the listener share responsibility of making the message clear, but effective communication is more than speech and hearing. Body languageRead MoreMy Personal Leadership Plan For Leadership Development1393 Words   |  6 PagesMy Personal Leadership Plan From leadership theories and observations and my personal experiences, I found that leadership is a life learning process and best practices of leadership skills. Surprisingly, the Center for Creative Leadership (CCL) points out that informal development opportunities, such as training, are responsible for only 10 percent of the actual learning in leadership development, and ninety percent of learning for leadership development is achieved in formal settings, mainly inRead MorePrevention of Criminal Activity in the Society1275 Words   |  5 PagesWhat is the importance of effective communication in coaching? Communication is the cornerstone of coaching; and effective communication is the primary prerequisite of effective coaching. Even if the coach and person being coached speak completely different languages, the coaching relationship can be built on nonverbal communication. Communication engenders trust, and allows the coach to transmit knowledge, ideas, and emotions to the mentee. As Burton Raedeke (n.d.) point out, As a coach, youRead MoreEffective Communication With A Social Worker1196 Words   |  5 Pagesability to have effective communication skill. I understand that as a Social Worker we are constantly communicate with clients to gain information, convey critical information and make important decisions. Without effective communication skills, social workers may not be able to obtain or convey that information, thereby causing detrimental effects to clients. Effective communication skill also applies to the relationship you have with your agency supervisor. Effective communic ation with your supervisorRead MoreLack Of Strong Communication Skills1533 Words   |  7 Pages Strong communication skills are necessary in order to coordinate daily operations which may require multiple people participating in the care of a patient. Evidence has shown that a lack of strong communication has led to negative patient outcomes and financial losses for the institution. Effective communication will help deliver the plan and staff members will know exactly what is expected off them versus trying to figure it out on their own. Good communication will also help to prevent errorsRead MoreIT Professionals: The Skills Framework for the Information Age1276 Words   |  6 PagesThe Skills Framework for the Information Age (SFIA) has been established in July 2003. It is a system for IT Professionals so that they could use the advancement of the workforce according to the requirements of the business. It can also be defined logical 2-dimensional framework in which on one a xis is the areas of work and on the other axis is levels of responsibility. It is considered as an effective resource which provides advantage to business by providing all facilities of the management inRead MoreHow The Organization Might Apply The Management Theories925 Words   |  4 Pagesorganisation might apply the management theories. In addition, will analyse differences between motivating individuals and motivating teams. It will explain what manager skills required in motivating teams and how these elements affect the business decision making and manage the change in the organisation. Also, there will be discussion of how management theories help to fill their purpose. The most important factor to highly motivate a people, a manager should have an effective communication, planning,

Study On Some Of The Kse Concepts Finance Essay - Free Essay Example

Sample details Pages: 10 Words: 3144 Downloads: 2 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? Ans. Trading in the future market offers an opportunity to the investor to invest in securities other than stocks. Investing in the futures market has a number of advantages. Don’t waste time! Our writers will create an original "Study On Some Of The Kse Concepts Finance Essay" essay for you Create order Firstly, instruments in the futures market are considered highly leveraged investments. The investor can earn alot from it by only investing a small amount. For instance, the investor will only have to pay 10% of the value of the contract and might earn much higher than it. In order to be profitable in the futures market, the investor must also be aware of the price fluctuations in the market; if he does so then he can earn ten times more than the amount invested by him. Another advantage of trading in the futures market is that it is a paper investment. Although it involves trading of different kinds of commodities because it is a paper investment so it does not face the problem of transferability. Instead of the commodities the contracts keep changing hands. The investor then does not need to worry about the storage of the commodities as well. High liquidity of future contracts is another benefit of trading in the futures market. This means that it is easy to buy and sell or order the contracts as they are being traded on a daily basis. There is a large number of buyers and sellers available for the contracts whatever the commodities may be. Some other advantages of investing in future contracts are that it enjoys fairer trading than stocks and shares. Because it is difficult to make predictions about the futures market it results in price manipulation in the stocks market. The commission charged on future contracts is also low than other markets. Depending on the level of service provided, the broker can earn as low as Rs.50 or as high as Rs.500 per transaction. The investor can money quickly in the futures market as the market is fast-moving than the cash market. But this can also be a disadvantage for the investor if he is not able to make the right prediction he can suffer quick losses as well. 2.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Discuss in detail the characteristics of three mutual funds of a single investment company (for example, AKD is an investment company and more than 4 mutual funds) Ans. AL-MEEZAN INVESTMENT MANGEMENT LIMITED: Joint venture of Meezan Bank and Pak Kuwait Investment Company (PKIC), Al-Meezan investment limited is registered with SECP and provides shariah compliant investment solutions. It majors in investment management i.e. floating and managing mutual funds and shariah based investment advisory. MEEZAN ISLAMIC INCOME FUND: It is the countrys first ever Shariah compliant Bomd fund. It invests in a diversified portfolio of Islamic investment instruments like Sukook bonds, Morabaha and Musharika instruments, certificates of Islamic investments etc and provides provides the investors capital gains as well as regular income. CHARACTERISTICS: Aimed at preserving capital through intelligent fund management Aims at providing, income consistently which is halal and strictly monitored and approved by Shariah Advisors Minimum intial investment of Rs. 5000 and Rs. 1000 subsequent investment amount at regular intervals Readily encas hable units throughout the year Offers tax benefit of Rs. 60,000 for salaried person and of Rs. 75,000 for non-salaried person on investments held for one year Lower risk and competitive return on the investment as a result of diversification of portfolio Till June 30, 2008, the fund size increased by 4889%, net assets stood at Rs. 5737m, and cumulative return was 14.06% MEEZAN CASH FUND: CHARACTERISTICS: Pakistans first ever Shariah compliant money market fund Rated AA(f) by JCR-VIS Provides maximum preservation of capital invested Can be easily cashed within 2 working days Involves no commission neither front-end nor back-end Risk of investing long-term fixed income instruments and stock market Ideal for short-term investments Flexible monthly, quarterly, or semi-annual based payments Healthy tax-free returns Provides a tax benefit of upto Rs. 60,000 in case of salaried person and Rs. 75,000 in case of non-salaried person MEEZAN ISLA MIC FUND: CHARCTERISTICS: Largest equity fund in the private sector as well as the largest Shariah compliant equity fund By investing in a large size of portfolio of securities it not only reduces the risk of price volatility but also the research and execution costs. The task of monitoring and evaluation of investment is handled by the fund mangers, who are trained investment professionals This fund also provides a tax benefit of Rs. 60,000 for salaried person or Rs. 75,000 for self-employed person on investments held for one year Provides an impressive return on the investment It is an affordable investment for small investors with a minimum investment of Rs. 5000 3.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Discuss how margin financing works at KSE? (the detailed method of where the funds are obtained from and how funds are then lent to investors ) Ans. Margin financing is a system to fund the investors, in which loan is extended to them uptil a certain limit. If the investors are short of money to purchase shares, they can get a loan for it from the stock broker. If the broker has that amount of amount he gives the loan to the investor at a specific interest rate. If not, then he acts as a middleman between the financer and the financee. The financee can be any financially sound company or an individual, who will lend the money at badla rate. In badla transactions the stock broker and the financial institution make an exchange of specific number of shares at a specific rate. But in whatever way the investor is financed, the loan is extended to him uptil a certain limit called margin. Margin specifies the limit upto which the investor can borrow funds. MARGIN = EQUITY / TOTAL PURCHASE PRICE Previously, the leverage product being used in KSE was called CFS MK-II (Continuous Funding System Mark II) which has now been modi fied as named as Margin Funding. The difference between international and locally practiced margin financing is that in the international MF it does not involve any middlemen, instead the banks or lenders bear the whole risk. 4.  Ãƒâ€šÃ‚  What is KMI index, how it is formed and why it was introduced? Ans. KMI-30 (Karachi Meezan Index) is the first Islamic index of Pakistan. It was formed by KSE (Karachi Stock Exchange) and Al-Meezan Investment Management Limited in September 2008 on the 1st of Ramazan. The reason for establishing an Islamic index in the country was to provide a suitable benchmark to the investors on their Shariah compliant investments. The KMI-30 index comprises of 30 shariah compliant companies included on the basis of free-float, which qualify the shariah screening criteria. It is a total return index which is maintained by KSE. While the Meezan company, contributes in the shariah expertise, screening, and guideline skills in the activities. The Shariah Board of Al-Meezan Investment Company is headed by the renowned scholar Justice (R) Mufti M. Taqi Usmani. The KMI index has been very successful and in the previous year, it gained top position in the world indices by delivering 107.4% dollar-based returns.  5.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  What is KSE 100 index? Discuss what does increase of decrease in points mean? Ans. KSE-100 is a stock index which acts as a benchmark to compare price at the Karachi Stock Exchange over a period of time. It was established on Nov 1, 1991 and is the most generally accepted measure if the exchange. It comprises of 100 companies with the highest market capitalisation from each sector, in order to ensure maximum market representation. The index moves up or down with the increase or decrease in points. For example, if on one day the total market capitalization at the stock is 1056000 and we consider it equal to 1000 points. Then the base market capitalization would be 1056. The next day the market capitalization moves down to 1047000. It is calculated as, = 1000*MARKET CAPITALIZATION / BASE MARKET CAPITALIZATION So, = 1000*1047000/1056000 = 0.9915 = 991.478 This would mean that the index has fallen from 1000 to 991.478 points i.e. there is a decline of 8.52 points.   6.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Differentiate between KSE 100 index and KSE 30 index? Ans. On the 1st of September, 2006 KSE launched its stock index, the KSE-30 index. This stock index is based on the free-float of shares rather than only market capitalization. The free-float methodology means that it takes into account only the active shares of the stock exchange and not the outstanding shares. Therefore the index at any time reflects the free-float market value of the 30 companies. It provides a benchmark to the shareholders to compare the stock prices over a period of time. Being based on the free-float methodology it is a true representative of the market, unlike the KSE-100 index. The KSE-100 includes the 100 highest market capitalised companies, for this reason even a slightest movement in the price of a company can change the trend of the index. And secondly, the KSE-100 is a total return index which not adjusted for dividends, bonuses or rights but the KSE-30 is adjusted when the company announces to give a dividend.  7.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Summarize the listing rules of KSE which are necessary for a company to get listed on KSE. Ans. A company cannot trade its securities on KSE quotation board or futures counter unless it is listed on KSE. In order to get listed the company shall submit an application to KSE in the prescribed form accompanied with the prescribed fee. The decision about granting permission shall solely be taken by the BOD of KSE within 3 months. If the permission is refused then the company and SECP is informed within 2 weeks. The BOD may relax the regulations if 2/3rd of them are unanimous on it. In case the permission to a company is refused, the application fee shall be refunded within the prescribed time. While considering granting permission the BOD will also take into consideration the publics interest in the company. The company shall be required to provide KSE any additional information, document or declarations as demanded by KSE. If a company does not do so, it shall be refused permission and it can then apply again for permission after 6 months of the refusal. The company permitt ed shall then offer 50% of its capital to public in case its capital is upto Rs.500m and more than 25% or Rs.250m if the capital is beyond Rs.500m. The BOD may relax these requirements depending upon the circumstances. Only those companies shall be eligible for being listed which are: Public companies or enacted companies Have a minimum paid-up capital of Rs.200m Its public offerings has been subscribed by at least 500 applicants The companies shall then submit the prospectus to KSE for clearance before an application for its approval is sent to SECP. After approval KSE shall published the prospectus along with the Performa in newspapers at Lahore, Karachi, Islamabad or at any other any place and the company shall provide KSE with the copies of these documents. After this, the company shall: Accept the application of allotment of shares through the bank Issue the shares of certificates in marketable lots Inform KSE about receiving subscription within 5 working d ays of closure of subscription list Dispatch all shares of certificates within 30 days of closure of subscription list as issued in marketable lots The company shall pay minimum of 1% brokerage fee to KSE members within 30 days of closure of subscription list The signatures of the shareholders shall be verified within 48 hours of request On receiving the shares of transfer the company shall immediately issue receipts and shall not charge transfer fee The company shall keep KSE informed about any corporate decisions or dividends and bonuses and shall hold Annual General Meeting within 4 months of the closing of the financial year.  8.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Discuss theses terms of KSE: Odd-lot, defaulter counter, de-listed companies, provisionally listed companies, future market ODD LOT: In general, odd lot means to trade less than 100 securities in an exchange. At KSE, the investors are provided the facility of an automated market through which the investors can buy or sell securities in bundles less than the number of shares traded on average in the ready market. DEFAULTER COUNTER: Defaulter counter is a mechanism at KSE which shows the names of the companies which were previously listed but for some reason have failed to payout the liabilities and refund the shareholders. No trading takes place in the shares of such companies and in order to punish such companies, KSE throws them out in the defaulter counter, this act puts pressure on the companies to comply with the KSE Listing Regulations. According to these regulations, the money market shall put the company in the defaulter counter if, It has not declared any dividend to the shareholders for 5 consecutive years since the last date of declaration of dividends Has not paid listing fee c ontinuously since 2 years Is about to be liquidated Has not held Annual General Meeting continuously since 3 years Has not joined CDS system after CDC declared its securities to be eligible And has been quoted at a value below 50% of the face value since 3 years The companies that do not comply with these regulations are issued a show cause notice and given time to rectify the error or give reason for the default. DELISTED COMPANIES: Before the defaulter counter mechanism was launched at KSE, the listed companies that did not comply with the KSE Listing Regulations were matched with the regulations and if failed were quietly delisted from the exchange. It had little impact on the companies and the major loss was borne by the shareholders, because of the defaulter counter now the companies try to payout at least some dividend to the shareholders. PROVISIONALLY LISTED COMPANIES: Provisionally listed companies are those, whose shares not already officially li sted at KSE, but they make upto the specified amount of minimum public offering, these shares are traded at the provisionally listed counter. And after the dispatch process of the allotted shares is completed through the CDC, the provisional counter ends and the outstanding transactions are transferred to T+3 counter. On this counter the trading cost of securities is summed and the settlement is made on the third day. FUTURE MARKET: It is a market where future contracts i.e. derivative securities are traded. A contract is made to sell or purchase the securities at a specified price on some future date. The list of companies, to be traded, in the future market are refreshed after every six months under the criteria determined by SECP and the investors are informed in advance. 9.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Can a broker go bankrupt? How? Ans. Brokers are individuals or institutions who buy or sell the shares for the investors and in return charge a commission for the services provided. The commission charged can be high or low, depending on the level of services given. If an investor wants to purchase shares but does not have that amount of money, he can borrow it from the brokerage house. In case, the broker does not have that amount, he borrows money from other brokerage houses or, local or foreign investors. All this settlement takes place through NCCPL (National Clearing Company Pakistan Limited). The settlement process allows a maximum period of 3 days to the brokerage house. Sometimes it happens that the brokers are unable to, both, pay back the other brokerage house or to the financial institutions, in the settlement process and then they are declared bankrupt. The brokerage house has 3 days to make the payment, if still it is not able to do so, it is penalised first and after that it is declared bankrupt . This is the T+3 approach, which means that there are three more days for the payment of cash. 10.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Differentiate between CDC and NCCPL? Remember to give clear cut points of distinctions between the two companies; only discussing their functions  will not serve the purpose.  Ans. There are 3 main players in the capital market of Pakistan i.e. stock exchanges, CDC and NCCPL. All the three participants are trying their best to bring efficiency in the capital market. For this reason they are coming up with innovations, CDC (Central Depository System) is one such system which performs the function of electronic book-entry of shares. It has facilitated, quickened and secured the process of settlement and delivery of shares. This system works under CDC (Central Depository Company), a separate legal entity which is responsible for maintaining and settling the shares of investors. Previously, the settlement and delivery of shares was done manually, it took 2-3 days in settlement after which the shares were mailed to the investor and were faced with the risk of being damaged, faked or duplicated. It was a slow process and was not secure but now it has been replaced by CDS through which the shares are transferred and settled electronically. The settlement proces s involves two steps, the borrower pays the cash and the seller delivers the securities. The first step of settlement of cash is performed by NCCPL (National Clearing Company Pakistan Limited), while the second step is performed by CDC. NCCPL maintains and settles the accounts of brokerage houses. Any exchange of cash between the brokerage houses is done through NCCPL. It has replaced the three individual clearing houses of stock exchanges and now all brokerage houses are registered with NCCPL. It is a separate legal entity which was formed to operate NCSS (National Clearing and Settlement System). It performs the clearing and settlement functions for brokerage houses and charges a commission from them. In the previous years when NCCPL was not formed, the clearing process took a long time and the probability of default of the brokerage houses was high. Whenever an investor of one brokerage house wants to buy or sell shares from an investor of another brokerage house. It takes place through both NCCPL and CDC. First of all the brokerage house makes cash transaction whose accounts are settled through NCCPL. The moment this is done, CDC is electronically informed through KATS (Karachi Automated Trading System) and the shares are settled and transferred in the investors account. Every investor is required to open an account with CDC, when an investor opens an account with the brokerage house; his sub-account is automatically opened with CDC. Through KATS CDC comes to know the origin of the transaction. 11.  Ãƒâ€šÃ‚  Ãƒâ€šÃ‚  Discuss at least 3 internet website from which you can obtain historical share prices data. Also tell the steps in which you can do so? Ans. Historical shares price data can be obtained from the following 3 websites: lahorestock.com/ cnbcpakistan.com globalfinancialdata.com. On the Lahore stock exchange website, scroll on the Market Information tab and click on Market History in the drop-down menu. It will open the webpage for historical share prices On the CNBC website, click on the Market Watch tab and then click on the History tab. On the Global Financial Data website, first of all you will need to log in. After that in the GFD filter search given on the left pane of the main page, enter the relevant information and it will provide you with historic share price information about any company listed in the KSE.