Native Americans vs American Settlers Essay Example for Free

Native Americans vs American Settlers EssayThere are a number of dissimilarities between the Native Americans and the American Settlers. Although the Native Americans wanted to sleep with in peace with American Settlers, their cultural differences led to warfare. This essay will compare and contrast a couple differences of these two cultures. I will hold forth both groups opinion on land and resources. Then, I will explain both groups views on Nature.Native Americans Conserved land and viewed its resources as scared, while the Americans mat up as though the land was nothing but opportunity for their colonies. While hunting, Native Americans used every piece of the animal from the hide to the bones and everything in between. They respected the land and believed it belonged to mother-nature, so it could not be owned or sold. On the other hand, American settlers viewed the land and its resources as limitless opportunity.It is little interrogate they went land-mad, because there was so much of it (Steinbeck 69). They invaded the lands claiming territory, killing buffalo, and plowing through the grassy plains to make room for their crops. American settlers often fought to try to obtain land that they scene was free for the taking, whereas, the Native Americans tried to live in harmony with nature and its inhabitants. In the movie, We Shall Remain, Native Americans would try and negotiate with the Americans only to be threatened with the strength of warfare.Native Americans believed the creator put everything on this earth to live together and be used respectfully. They accepted nature and did not try to change it. The American settlers, however, didnt hold the same beliefs. The railroads brought new hordes of land-crazy people, and the new Americans moved like locust across the continent Coal and copper drew them on they savaged the land, gold-dredged the rivers to skeletons of pebbles and dust (Steinbeck 69). They viewed nature as nothing to a greater e xtent than an obstacle and commodity.American settlers engaged in warfare, defending what they thought they discovered, to claim as their own. They were land hungry and the more they got, they more they wanted. American colonist never tried to understand the Native Americans culture. Instead they tried to push their European based ways onto them. This, in turn, caused a number of wars between the two. Sometimes its better to agree to disagree rather than to wage war on what is believed to be proper(a)/wrong.

What Is Religion Essay Example for Free

What Is Religion Es vocalizeReligion is a hard concept to comprehend. It is exhibit us a different side to look at our conduct. Instead of having hard facts that can be physically proven, religion shows us to take a leap of assent and study the impossible. In The Nature of Existence Charles Messer says Religion is simply a system of actions meant to give you access to God and Heaven. (eternal Life). In my faith I am taught that we atomic number 18 created by a higher being God. That He is omnipotent and he loves all human beings, even if we do non believe in him and follow him.That he sent his only son, to die on the cross for all of us. Other religions may say the opposite that in that location is more than one god and that Jesus was not the messiah. Edward and people with similar beliefs say, Religions are man-made world-views that help those in charge to control the masses. They are only and utterly useless., but the only problem with this statement is that man also cr eated science. Man has a lust for power and because religious leaders have so much power over so many people, others assume that religion is being used to gain power . (Your Thesis is not clearly visible, you are thinking with emotion instead of stating clear facts with passion)In todays world on that point are too many religions to count. There are as many religions as thither are believers since each person has a different understanding of what their religion is. as Nancy M has put it. Nancy brings up a great point by saying this. wad might think they have the same views on religion but no one authentically does. That is one of the points of this documentary to show different views on what they believe in. Free will gives us the power to choose our own paths, whether it is in speech or in religion. The Internet Encyclopedia of Philosophy says, Free will is to say that the agent has the capacity to choose his or her course of action. We have the choice to believe in God or not t o believe in God. That is the beauty of free will, that our decisions are our own.The biggest confrontation in religion is which religion is right? People who have a strong faith in what they believe in, and will say that their religion is the true religion. I am one who believes that my religion is the correct. scarce like Nancy says I have created my own religion. I discovered my own belief system, by challenging other religions and figuring out what others have to say about their own beliefs. crony Jed Smock is one who challenges our faith, by going to college campuses and spreading his beliefs onto others. What he talks about at the colleges, causes the students to question and challenge Brother Jeds beliefs. While asking these questions, the students have to also look at their own beliefs and may question them as well. To truly grasp our religion we submit to ask questions and find answers. One of the best ways to do this is to challenge others and to break down the answer th ey have provided. It strengthens us and takes our beliefs to a whole unseasoned level.Believing in something is a way of life. Everyone has some kind of belief system. We can believe that there is a God or believe that there is no God. This is the same as an opinion we all have opinions on eitherthing no matter what. If no one had an opinion then there would not be discussions or arguments.(Without this progress could not be made) Whether or not we belive in a religion or science or even both, there is a reason why we do. It is a way to explain things we cannot explain (it is a way to ease our minds from fear of the unknown and to explain away the unexplainable). For example, where we go after we die or if something miraculous (Or tragic) happens in our life. We cannot explain these events, and therefore we look for answers (in a higher power, whether that power is religion or science) because as human beings we do not like Uncertainty.(many people of faith turn to determinism, w hen something unexplainable happens, whether that something, is good or bad. According to Stanford Encyclopedia of Philosophy, Causal determinism is, roughly speaking, the idea that every event is necessitated by antecedent events and conditions together with the laws of nature. Simply saying that everything happens for a reason.It is a way to avoid the confrontation, of questioning a belief system by putting life solely in the hands of a higher power. It is mainly used as a way to explain away calamity and an attempt to console us in a time of grief. When something unexplainable happens, people (do not ) like to question why, they would rather move on with their life and accept what they believe to be inevitable. In my opinion I believe that I will make my own future and it is always changing and naught is set until it happens. Nothing can determine our future except ourselves.

Credit Risk Management in the UK Banking Sector

Credit guess Management in the UK Banking SectorBackground 3Literature Review 7Ascertaining why and how briming doctrine put on the line exposure is evolving recently 8Seeing how banks use opinion pretend rating and assessment tools to mitigate their character chance exposure 11The steps and methodologies used by banks to identify, plan, symbolise out, designate a framework, develop an analysis and mitigate opinion attempt 13 take root the human relationship mingled with the theories, concepts and examples of denotation lay on the line concern and what goes on practically in the banking world 17Ascertain the mountain range to which resourceful conviction chance guidance ordure perk up bank performance 19To evaluate how regulators and government ar assisting the banks to identify, mitigate credit fortune, and destiny to adopt the risk-based strategies to increase their profitability, and offering tending on unceasing basis 20Research Methodology 21Analysis 23Ascertaining why and how banking credit risk exposure is evolving recently 23Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure 25The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk 31Determine the relationship between the theories, concepts and models of credit risk direction and what goes on practically in the banking world 35Ascertain the scope to which resourceful credit risk management give the axe perk up bank performance 38To evaluate how regulators and government argon assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis 40Primary Survey 45Conclusions 46Recommendations 50Bibliography 56BackgroundThe sub-prime mortgage nuclear meltdown that hit the global banking vault of heaven in 2007, was a go of circumstance s, actions and repercussions that began years earlier (Long, 2007). It, the sub-prime mortgage crisis, was based on unsound ground from its inception. Sub-prime mortgages represent loans made to borrowers that have lower ratings in their credit than the norm (investopedia, 2007). collect to the lower borrower credit rating, they do not diversify for what is termed as a conventional mortgage due to default risk (investopedia, 2007). Sub-prime mortgages frankincense carry a utmoster interest rate to off set the risk increase, which helped to fuel the United States economy through increased home ownership, and the attendant spending that accompanies it (Bajaj and Nixon, 2006). use by the Bush administration in the United States to get the economy rolling after the recession fuelled by the September 11th air attacks, the full(a) plan began to backfire as early as 2004 as a resolution of the continued building of raw housing without the demand (Norris, 2008). The youthful body s tructure glutted the food foodstuff bringing down offer prices. This, coupled with a slowing economy in the United States way outed in layoffs, as sanitary as many subprime mortgage holders defaulting on their loans, and the crisis ballooned.Some attribute the over modify of subprime mortgages to predatory lending (Squires, 2004, pp. 81-87) along with the downstairslying faults of using it as an economic stimulant package that did not control the limits on new housing (Cocheo, 2007). That set of circumstances represented the cause of the subprime mortgage crisis that spread globally as a result of the tightening of credit due to defaulted loan sell offs and restricted banking lending ceilings caused by the Basel II ossifications (Peterson, 2005). The complexity of the antecede shall be further rationaliseed in the Literature Review section of this study. The front summary journey through the subprime mortgage crisis was conducted to reveal the sort in which banking cred it crunches can and do continue. The import of the foregoing to this study represents an example to awaken us to the external factors that can and do cause banking credit crisis situations, thus revealing that despite good management practices such events can manifest themselves. It is also true that poor or lax banking practices can have the equivalent effects.Credit risk management represents the assessing of the risk in pursuing a certain course, and or courses of action (Powell, 2004). In conduceition to the foregoing U.S. created subprime mortgage crisis, the appearance of new forms of monetary instruments has and is causing a worry in credit risk management with regard to the banking sector. As the worlds second longst monetary centre, the United Kingdom is subject to transaction volumes that increase the risks the banking sector takes as so many new forms of financial instruments land there first. McClave (1996, p. 15) nominates us with an to a lower placestanding of bank risk that opens the realm to give us an overview of the problem by telling usBanks must manage risk more than objectively, using quantitative skills to understand portfolio data and to predict portfolio performance. As a result, risk management will become more process-oriented and less dependent on individuals.Angelopoulos and Mourdoukoutas (2001, p. 11) amplify the former in stating that Banking risk management is both a philosophical and an in operation(p) issue. They addAs a philosophical issue, banking risk management is about attitudes towards risk and the payoff associated with it, and strategies in dealing with them. As an operational issue, risk management is about the identification and classification of banking risks, and methods and procedures to measure, monitor, and control them. (Angelopoulos and Mourdoukoutas, 2001, p. 11)In concluding, Angelopoulos and Mourdoukoutas (2001, p. 11) tell us that the two approaches ar in reality not divorced, and or self-s ufficing form each other, and that attitudes concerning risk contribute to determining the guidelines for the measurement of risk as well as its control and monitoring. The research that has been conducted has been gathered to address credit risk management in the United Kingdom banking sector. In order to equate such, data has been gathered from all salient sources, regardless of their locale as basic banking procedures remain constant worldwide. References specific to the European Union and the United Kingdom were employed in those instances when the nuances of legislation, laws, policies and think factors dictated and evidenced a digression that was specific.In call of importance, credit risk is one of the most important functions in banking as it represents the foundation of how banks earn money from deposited funds they are entrusted with. This existence the case, the manner in which banks manage their credit risk is a critical component of their performance over the near t erm as well as long term. The implications are that todays decisions clashing the hereafter, thus banks cannot approach current profitability without taking measures to ensure that decisions made in the present do not impact them negatively in the future (Comptroller of the Currency, 2001). A well designed, functioning and managed credit risk rating system promotes the asylum of a bank as well as soundness in terms of making informed decisions (Comptroller of the Currency, 2001). The system works by measuring the different types of credit risk through dividing them into groups that tag risk by the risk posed. This enables management as well as bank examiners to monitor trends and changes to risk exposure, and this minimise risk through diversifying the types of risk interpreted on through separation (Comptroller of the Currency, 2001).The types of credit risks a bank faces represents a wide-eyed array of standard, meaning old and establishes sources, as well as new handle that are developing, gaining favour, and or impacting banks as a result of the tightness of international banking that creates a ripple effect. The aforementioned subprime crisis had such an effect in that the amour of the international banking community accelerated developments. The deregulation of banking has increased the risk stakes for banks as they now are able to engage in a broad array of lending and investment practices (Dorfman, 1997, pp. 67-73). Banking credit risk has been impacted by technology, which was one of the contributing factors in the subprime crisis (Sraeel, 2008). Technology impacts banks on both sides of the coin in that computing power and new software permits banks to devise and utilise historical risk calculations in equating present risk forms. However, as it is with all formulas, they are only as effective as the parameters entered (Willis, 2003).The interconnected nature of the global banking system mover that bank risk has increased as a result of the q uick manner in which financial instruments, credit risk transfer, and other systems, and or forms of risk are handled. The Bank for international Settlements led a committee that looked into Payment and Settlement Systems, which impacts all forms of banking credit risk, both new forms as well as long standing established ones in loans, investments and other fields (TransactionDirectory.com, 2008). The report indicates that while technology and communication systems are and have increased the efficiency of banking through internal management as well as banking systems, these same areas, technology and communications systems also have and are contributing to risk.The complexity of the issues that arise in a discussion of credit risk management means that there are many terms that are applicable to the foregoing that are banking industry specific to this area. In presenting this material, it was deemed that these special terms would have more impact if they were explained, in terms o f their context, as they occur to ease the task of digesting the information. This study will examine credit risk management in the UK banking sector, and the foregoing thus will take into account banking regulations, legislation, external and internal factors that impact upon this.Literature ReviewThe areas to be masked by this study in relationship to the topic area Credit lay on the line Management in the UK Banking Sector entails looking at as well as examining it using a fig of assessment and analysis institutionalises, as represented by the followingAscertaining why and how banking credit risk exposure is evolving recently.Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure.The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk.Determine the relationship between the theories, concepts and models of credit risk management and what goes on pract ically in the banking world.Ascertain the scope to which resourceful credit risk management can perk up bank performance.To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis.The foregoing also represents the research methodology, which shall be further examined in section 3.0. These aspects have been accommodated here as they represented the focus of the Literature Review, thus dictating the approach. The following review of literature contains segments of the information found on the aforementioned five areas, with the remainder referred to in the Analysis section of this study.Ascertaining why and how banking credit risk exposure is evolving recently.In a report generated by the Bank for internationalist Settlements stated that while transactional costs have been reduced as a result of advanced communication s ystems, the other side of this development has seen an increase with regard to the potential for disruptions to spread quickly and widely across multiple systems (TransactionDirectory.com, 2008). The Report goes onto add that concerns regarding the speed in which transactions occur is not reflected adequately in risk controls, stress tests, crisis management procedures as well as contingency supporting plans (TransactionDirectory.com, 2008). The speed at which transactions happen means that varied forms of risk can move through the banking system in such a manner so as to spread broadly before the impact of these transactions is known, as was the case with the subprime mortgage crisis debt layoff.One of the critical problems in the subprime crisis was that it represented a classic recent example of the ripple effect caused by rapid interbanking communications, and credit risk transfer. When the U.S. housing bubble burst, refinance terms could not cover the dropping house prices t hus leading to defaults. The revaluation of housing prices as a result of overbuilding forced a correction in the U.S. housing market that drove prices in many cases below the assessed mortgage repute (Amadeo, 2007). The subprime mortgage problem was further exacerbated by mortgage packages such as fixed rate, balloon, adjustable rate, cash-out and other forms that the failure of the U.S. housing market impacted (Demyanyk and Van Hemert, 2007). As defaults increased banks sold off their positions in bad as well as good loans they deemed as risks as collateralised debt obligations and sold them to differing investor groups (Eckman, 2008). Some of these collateralised debt obligations, containing subprime and other mortgages, were re-bundled and sold again on margin to still another set of investors looking for high returns, sometimes putting down $1 million on a $100 million package and borrowing the rest (Eckman, 2008). When default set in, margins calls began, and the house of car ds started caving in.Derivatives represent another risk form that has increased banking exposure. The preceding statement is made because new forms of derivatives are being created all of the time (Culp. 2001, p. 215). Derivatives are not new, they have existed since the 1600s in a rudimentary form as pre discoverd prices for the future delivery of farming products (Ivkovic, 2008). Ironically, derivatives are utilise in todays financial sector to reduce risk via changing the financial exposure, along with reducing transaction costs (Minehan and Simons, 1995). In summary, some of the uses of derivatives entail taking basic financial instruments as represented by bonds, loans and stocks, as a few examples, and then isolating basic facets such as their agreement to pay, agreements to receive or modify cash as well as other considerations (financial) and packaging them is financial instruments (Molvar, et al, 1995). While derivatives, in theory, help to spread risk, spreading risk is exactly what caused the subprime meltdown as the risk from U.S. mortgage were bundled and sold, repackaged, margined, and thus created a raft of exposure that suffered from the domino effect when the original house of cards came crashing down.Other derivative forms include currency swaps as well as interest rate derivatives that are termed as over the counter (Cocheo, 1993). The complexity of derivatives has increased to the point whereauditors will conduct to have special knowledge to be able to evaluate the derivatives measurement and disclosure so they conform with GAAP. For example, features embedded in contracts or agreements may want separate accounting as a derivative, while complex pricing structures may make assumptions used in estimating the derivative s fair value more complex, too. (Coppinger and Fitzsimons, 2002)The preceding brings attention to the issues in evaluating the risks of derivatives, and banks having the proper staffing, financial programs and criteria to rate derivative risks on old as well as the consistently new forms being developed. Andrew Crockett, the former manager for the Bank of International Settlements, in commenting on derivatives presented the double-edged sword that these financial instruments present, and thus the inherent dangers (Whalen, 2004)When properly used, (derivatives) can be a powerful means of controlling risk that allows firms to economize on scarce heavy(p). However, it is possible for new instruments to be based on models, which are unwell designed or understood, or for the instruments to give rise to a high degree of common behaviour in traded markets. The result can be large liberationes to individual firms or increased market volatility.The foregoing provides background information that relates to understanding why and how banking credit risk exposure has and is evolving. The examples provided have been utilised to illustrate this.Seeing how banks use credit risk evaluation and assessment tools to mitigate their credit risk exposure.As credit risk is the focal point throughout this study, a definition of the term represents an important aspect. Credit risk is delimitate as (Investopedia, 2008)The risk of loss of principal orloss of a financial satisfy stemming from a borrowers failure to repay a loan or otherwise meet a contractual obligation. Credit risk arises whenever a borrower is expecting to use future cash flows to pay a current debt. Investors are compensated for assuming credit risk by way of interest payments from the borrower or issuer of a debt obligation.Risk, in terms of investments, is closely aligned with the potential return being offered (Investopedia, 2008). The preceding means that the higher the risk, the higher the rate of return expected by those put in the risk. Banks utilise a variety of credit risk evaluation and assessment tools to apprise them of credit risk probabilities so that they can mitigate, and or determine their risk exposure. There are varied forms of credit risk models, which are defined as tools to estimate credit risk chance in terms of losses from banking operations in specific as well as overall areas (Lopez and Saidenburg, 2000, pp. 151-165).Lopez and Saidenberg (1999) advise us that the main use of models by banks is to provide forecasts concerning the probability of how losses might occur in the credit portfolio, and the manner in which they might happen. They advise that the aforementioned credit risk model projection of loss distribution is founded on two factors (Lopez and Saidenberg, 1999)the multivariate, which means having more than one variable (Houghton Mifflin, 2008) distribution concerning the credit losses in terms of all of the credits in the banks portfolio, andthe weighting vector, meaning the direction, characterising these credits.As can be deduced, the ability to measure credit risk is an important factor in improving the risk management capacity of a bank. The importance of the precedi ng is contained in the Basel II Accord that states the capital requirement is three times the projected maximum loss that could occur in terms of a portfolio position (Vassalou, M., Xing, Y., 2003). Risk models and risk assessment tools form and are a structural part of the new Basel II Accord in that banks are required to adhere to three mechanisms for overall operational risk that are set to measure and control liquid risk, of which credit risk is a big component (Banco de Espana, 2005). The key provisions of the Basel II Accord set forth that (Accenture, 2003)the capital allocation is risk sensitive,separation of operational risk, from credit risk,vary the capital requirements in keeping with the different types of business it conducts, andencourage the development and use of internal systems to aid the bank in arriving at capital levels that meet requirementsAn explanation of the tools utilised by banks in terms of evaluation as well as assessment will be further explored in th e Analysis segment of this study.The steps and methodologies used by banks to identify, plan, map out, define a framework, develop an analysis and mitigate credit risk.The process via which banks identify, plan, map out, define frameworks, develop contemplates, and mitigate credit risk represent areas as put forth by the Basel II Accord, which shall be defined in terms of the heedlessness measures and degrees of autonomy they have in this process. In terms of the word autonomy, it must be explained that the Basel II Accord regulates the standard of banking capital adequacy, setting forth defined measures for the analysis of risk that must meet with regulatory approval (Bank for International Settlements, 2007). This is specified under the three types of capital requirement frameworks that were designed to impact on the area of pricing risk to make the field proactive. The rationale for the preceding tiered process is that it acts as an incentive for banks to seek the top level th at affords them with a lowered requirement for capital adequacy as a result of heightened risk management systems and processes across the board (Bank for International Settlements, 2007). The foregoing takes into account liquidity (operational) risk as well as credit risk management and market risk.The risk management active foundation of the Basel II Accord separates operational risk from credit risk, with the foundation geared to making the risk management process sensitive, along with aligning regulatory and economic capital aspects into closer proximity to reduce arbitrage ranges (Schneider, 2004). The process uses a three-pillar foundation that consists of minimum capital requirements along with supervisory review as well as market discipline to create enhanced stability (Schneider, 2004). The three tiers in the Basel II Accord, consist of the following, which are critical in understanding the steps, and methodologies utilised by banks to identify, plan, map, define framework s, analyse and mitigate risk (Bank for International Settlements, 2007)Standardised ApproachThis is the lowest level of capital adequacy calculation, thus having the highest reserves. Via this approach risk management is conducted in what is termed as a standardised manner, which is founded on credit being externally assessed, and other methods consisting of internal rating measures. In terms of banking activities, they are set forth under eight business categories (Natter, 2004)agency services,corporate finance,trading and sales,asset management,commercial banking,retail banking,retail brokerage,payment and settlementThe methodology utilised under the standardised approach is based on operational risk that is computed as a percentage of the banks income that is derived from that line of business.Foundation Internal rating Based Approach (IRB) (Bank for International Settlements, 2007)The Foundational IRB utilises a series of measurements in the calculation of credit risk. Via thi s method, banks are able to develop empirical models on their own for use in estimating default probability incidence for clients. The use of these models must first be reviewed and cleared by local regulators to assure that the models conform to standards that calculate results in a manner that is in keeping with banking processes in terms of outcomes and inputs to arrive at the end figures. Regulators require that the formulas utilised include Loss Given Default (LGD), along with parameters consisting of the Risk burden Asset (RWA) are part of the formulas used. Banks that qualify under this tier are granted a lower capital adequacy holding figure than those under the first tier.Advanced Internal Rating Based Approach (IRB) (Bank for International Settlements, 2007)Under this last tier, banks are granted the lowest capital adequacy requirements, if they qualify by the constructing of empirical models that calculate the capital needed to cover credit risk. The techniques, personne l and equipment needed to meet the foregoing are quite extensive, requiring a comforting investment of time, materials, funds, and personnel to accomplish the foregoing, thus this measure generally applies to the largest banks, that have the capability to undertake these tasks. As is the case under the Foundation Internal Rating Based Approach, the models developed must meet with regulator approval. Under this aspect of the Basel II provisions for this tier, banks are permitted to create quantitative models that calculate the following (Bank for International Settlements, 2007)Exposure at Default (EAD),the Risk Weighted Asset (RWA)Probability of Default (PD), andLoss Given Default (LGD).The above facets have been utilised to provide an understanding of the operative parameters put into place by Basel II that define the realm in which banks must operate. These tiers also illustrate that the depth of the manner in which banks identify, plan, map out, define frameworks, analyse and mi tigate credit risks, which varies based upon these tiers. Under the Standardised Approach the formulas are devised by the regulators, with banks having the opportunity to devise their own models. Graphically, the preceding looks as followsChart 1 Basel II Three Pillars(Bank for International Settlements, 2007)Determine the relationship between the theories, concepts and models of credit risk management and what goes on practically in the banking world.The Basel Committee on Banking Supervision (2000) states that the goal of credit risk management is to maximise a banks risk adjusted rate of return by maintaining credit risk exposure within acceptable parameters. The foregoing extends to its entire portfolio, along with risk as represented by individual credits, and with transactions (Basel Committee on Banking Supervision, 2000). In discussing risk management theories, Pyle (1997)/span states it is the process by which managers satisfy these needs by identifying key risks, obtain ing consistent, understandable, operational risk measures, choosing which risks to reduce, and which risks to increase and by what means, and establishing procedures to monitor the resulting risk position. The preceding statement brings forth the complex nature of credit risk management. In understanding the application of risk it is important to note that credit risks are defined as changes in portfolio value due to the failure of counter parties to meet their obligations, or due to changes in the markets perception of their ability to continue to do so (Pyle, 1997).In terms of practice, banks have traditionally utilised credit scoring, credit committees, and ratings in an assessment of credit risk (Pyle, 1997). Bank regulations treat market risk and credit risk as separate categories. J.P. Morgan Securities, Inc. (1997) brought forth the theory that the parallel treatment of market risk and credit risk would increase risk management by gauging both facets would aiding in contribu ting to the accuracy of credit risk by introducing external forces and influences into the equation that would reveal events and their correlation with credit risk. by incorporating the influence and effect of external events via an historical perspective, against credit risk default rates, patterns and models result that can serve as useful alerts to pending changes in credit risk as contained in Pyles (1997)/span statement that ended in due to changes in the markets perception of their ability to continue to do so.The Plausibility Theory as developed by Wolfgang Spohn represents an approach to making decisions in the face of unknowable risks (Value Based Management, Inc., 2007). Prior to the arrival of the Plausibility Theory, Bayesian statistics was utilised to predict and explain decision making which was based upon managers making decisions through weighing the likelihood of differing events, along with their projected outcomes (Value Based Management, Inc., 2007). Strangely, the foregoing this theory was not applied to banking. The Risk Threshold of the Plausibility Theory assesses a range of outcomes that may be possible, however it does focus on the probability of hitting a threshold point, such as net loss relative to acceptable risk (Value Based Management, Inc., 2007). The new Basel II Accord employs a variant of the foregoing that is termed as Risk Adjusted Return on Capital which is a measurement as well as management framework for measuring risk adjusted financial performance and for providing a consistent view of profitability across business (units divisions) (Value Based Management, Inc., 2007). The foregoing theory of including external events in a calculative model with business lines credit risks is yet to be fully accepted as the variables from external predictive models to result in scenarios along with credit risk models is a daunting set of equations.Ascertain the scope to which resourceful credit risk management can perk up bank pe rformance.In equating how and the scope in which resourceful credit risk management can improve bank performance, one needs to be cognizant that credit risk represents the indigenous type of financial risk in the bank sector as well as existing in almost all areas that are income generating (Comptroller of the Currency, 2001). From the preceding it flows that a credit risk rating system that is managed and run well will and does promote bank soundness as well as safety through helping to make and implement decision making that is informed (Comptroller of the Currency, 2001). Through the construction and use of the foregoing, banking management as well as bank examiners and regulators are able to monitor trends as well as changes occurring in risk levels (Comptroller of the Currency, 2001). Through the preceding, management is able to better manage risk, thus optimising returns (Comptroller of the Currency, 2001).The return of credit risk management in terms of identification and m onitoring, the process when operated effectively can improve bottom line performance through put off risk identified as potentially being problematic in the future (KPMG, 2007). Zimmer (2005) helps us to understand the nuances of transferring credit risk by telling usA bank collects funds and originates loans. It might only be able to attract funds if it holds some risk capital that monetary resource losses and saves the bank from insolvency if parts of its loan portfolio default. If the bank faces increasing costs of raising external finance, CRT has a positive effect on the lending capacity of the bank. Providing the bank with additional risk capital, CRT lowers the banks opportunity cost of additional lending and increases its lending capacity.As has been covered herein, credit risk represents a potential income loss area for banks in that default subtracts from income, thus lowering a banks financial performance. The Bank for International Settlements (2003) advises that the p rinciple cause of banking problems is directly related to credit standards that are lax, which is termed as poor risk management. The preceding reality has been documented by the The Bank for International Settlements (2003) that advises that poor credit risk management procedures and structures rob banks of income as they fail to identify risks that are in danger of default, and thus taking the appropriate actions. A discussion of the means via which resourceful credit risk management enhance bank performance in delved into under the Analysis segment of this study.To evaluate how regulators and government are assisting the banks to identify, mitigate credit risk, and helping to adopt the risk-based strategies to increase their profitability, and offering assistance on continuous basis.In delving into banking credit risk management in the United Kingdom, legislation represents the logical commencement place as it sets the parameters and guidelines under which the banking sector mus t operate. The Basel II Accord represents the revised i

The Hvac System To Water Cooled Chiller Construction Essay

The Hvac constitution To Water Cooled Chiller Construction EssayMany studies, empirical analysis, and efficacy consultants repeatedly claim that there is a large fallow economic electromotive force for saving nothing. Usually, this potential is estimated to be in the digress of 10 20 %.This dissertation explores the determinants which influence the management of zilch might in commercial edifice, and discuss possibilities how to support the exploitation of cypher saving measures.The speculative concept is based on the ideas of behavioral decision theory and late enquiry in the field of organization development. In this view, might link behavior and decision making in commercial twist ar formed by ability and the readiness to act of the person involved, and by the internal organizational structure, corporate routine and values.Conducting the initial muscularity take stock is a critical bank vault for qualification aptitude, regardless whether the audit is integra ted in an efficacy management process or a stand alone activity. The initial goose egg audit requires readiness to act, considerable effort and an extensive amount of realistic and methodical knowledge and know how, which commercial building do not possess.We do the modeling by using the simulate a commercial building. As an example, we trace and thoroughly describe might saving measures within building inflameing, ventilation and striving instruct (HVAC) placement. Taking into account the conditions of initial dexterity audit, we modal the measurement in such a way that, apart from elemental entropy no further measurement are required to come to conclusion. The information necessary is acquired using formula, info tables, rule of thumb, estimate and cover in a simplify calculating appeals of labor, material, equipment of HVAC equipment and brass and how to visualise the goant energy saving.AcknowledgementsAbbreviations, Units and Conversion FactorList of symbolsTa ble of Contents1. Introduction1.1 BackgroundThe part of stock t individually in Hong Kong attributes a large proportion of our organic galvanizingity enjoyment, due primarily to its geographic location and economic activities. In 2004, air conditioning accounted for 30% of the total electricity consumption. Our electricity consumption by air conditioning had a growth of close to 17% from 1994 to 2004. The use of air conditioning is expected to grow further in view of our increasing population and economic activities. We therefore need to take measures to amend our energy efficiency, in particular, on air conditioning.Currently, a large amount of energy is being contractd by HVAC organisations in buildings. According to the statistics from the Hong Kong SAR government, about 17% of the total energy, which is about 30% of the electric energy (Chow 2006) is being consumed by HVAC systems in buildings. Therefore, energy conservation of HVAC systems in buildings depart clearl y have a sizeable impact on total energy consumption.Up to date, a lot of efforts have been made in distinct buildings to minimize the energy consumption in HVAC systems. For example,Marriott (2006) proposed three approaches that nooky be easily applied in buildings to improve the energy efficiencies of HVAC systems. The approaches are optimizing the supply air temperature, recovering energy from condenser water and making use of the geothermal heat pump system.According to a memorize conducted by the EMSD, the energy saving from various types of the water-cooled air conditioning system ranges from 14% to 35%. The capital address of evaporative water-cooled air conditioning system is about 15%lower than air-cooled air conditioning system on new system basis. Hence, if the conversion of existing air-cooled air conditioning system to evaporative water-cooled air conditioning system can be planned at the end of economic demeanor of existing air-cooled air conditioning system, it is likely to have a reduction in replenishment cost for choosing evaporative water-cooled air conditioning system in lieu of air-cooled air conditioning system. The operating life of air-cooled occurrence chiller condensers is around 15 years while for fresh water cooling towers is around 20 years.Chan (2006) proposed optimum control logic for the HVAC system of a building in Hong Kong, which minimized the mismatch of cooling load demand and chilled water flow demand. Around 435,000 kWh was saved by the developed control logic from June 2003 to May 2004.Mathews et al. (2002) developed a disguise tool, QUICK control. It estimates the effect of different control strategies on the energy saving performance in various buildings. do of control strategies such as lover scheduling, set point setback, economizer cycle, new set point, fan control, heat plant control, etc. can be examined in detail this simulation tool. Mathews et al. used this simulation tool to study the energy savin g potential in a conference center in South African. A new control strategy was developed with the aid of this simulation tool. It was predicted that about 58% of the HVAC system energy could be saved.Chan (2006) and Mathews et al. (2002) showed that besides the energy efficiency of the machines (chillers, pumps, fans, etc.), control strategy also plays a very important role on HVAC energy consumption.Kim et al. (2001) conducted a computational fluid dynamic simulation for analyzing the indoor cooling/heating load. It was coupled with a radioactive heat transfer simulation program and a fake HVAC control system. The output of the simulated HVAC control system can be fed back to the boundary condition of the CFD simulation program and the indoor environment was simulated. New control indicate can then be set upd based on the indoor environment. Energy saving performance of the control strategy can be investigated accurately. With the like simulation program, thermal comfort can a lso be estimated by the calculated indoor status using PMV based approach.In this paper, a practical study on energy saving in a commercial building was carried out. Chillers, pumps and the control system were retrofitted based on the analysis of the characteristics of commercial building cooling load. Energy conservation performance of the retrofit was investigated.1.2 Research questionsThe aim of this dissertation has been to be answered and prices calculated regardless of what the retrofit involves.What various options are procurable to rectify this waste, what is the retrofit cost of each and how oft pull up stakes each save in energy cost?What is realistic purchase prices of any equipment need?How much labor is needed to remove the old one and install the new oneWhat piping, valve and ductwork change will be needed?Hoe much labor will be involved in draining original system, flushing, pressuring, testing and refilling new system and start up?How much will be needed for bala ncing and adjusting the system and monitoring energy costs?And lastly, the big question, what will the energy saving be with this approach and what is the payback and bear on investment?It is absolutely necessary to obtain this information and compare the various avenues operable and make a wise decision based on accurate and thorough cost projections and energy saving.1.3 Research objectives1.3.1 Main objectiveThe main of the objective is to consideration of perform various retrofit change, calculate the energy saving and the renovation costs. It provides procedure and formulas for energy program, audits, engineering and estimating.1.3.2 Specific objectiveThe focus of this dissertation is placed on the item objective is conceive ofing about energy conservation in HVAC system in the following manner.Generalities Start off energy conservation program thinking in terms of principles or generalities and then follow up with particulars. Think about reducing HVAC loads, O M saving, improving efficiency of equipment and system, reducing flow, etc.Specific After a general concept is formed then think in terms of specific heating and cooling equipment, particular HVAC system, piping system, ductwork system, insulation, control, etc.Load reading Think about hoe the building cooling load may vary due to occupancy, the shifting sun, operations, etc. and about which cooling loads are constant on a daily basis without variation.Low Cost, No Cost Item Think in terms of no cost, low cost energy saving measures which can be make easily and quickly and which may have phenomenal payback.Capital Investment Item Then think in term of capital investment energy improvement searching for those with the greatest energy savings and the highest rate return or fastest payback. galvanic Distinguish electrical consumption cost of fans, pumps, chillers, condenser, cooling tower, lighting etc.1.4 Research methodologyThis dissertation using the regression analysis method for establish ing the commercial baseline. Regression analysis involves finding the relationship that shows how energy use alters with changes to an autarkical varying or variables. This relationship can be used to quantify energy use for different values of the independent variables.Data is requested over the same time period and interval for the proposed independent variables and the dependent variable, in this case energy consumption. The occupyive information is then analyzed to develop an equation, generally linear, that describes the relationship or regression line. This line is an estimate of the dependant variable for values of the independent variable or variables.Independent variables that affect energy consumption can include factors such as production rate, product mix, raw material, occupancy and close temperature.1.5 Structure of the dissertationChapter 2 provide check out of existing literature for actual research process of energy saving technique, thereby providing the basi s skillful information for the energy saving. The chapter begins by estimate the energy auditing for the commercial building and then provides the energy consumption of the commercial building and a methodology for retrofit cost and analysis, financial evaluation.Chapter 3 addresses research methodology used to generate the energy conversion model for the process used in this study. In extra to this, data collection for Secondary data and Primary data are defined.Chapter 4 deals empirical simulation using case studies of actual commercial building. This jot to discuss on the procedure and applicability of the models for auditing, retrofit Cost and Analysis, financial Evaluation, as well as an explanation of the energy cost saving that can be obtained as a result.Chapter 5 concludes the suppositious and the empirical findings and closes the research report by summing up the results and providing ideas for further research.2. Literature Review2.1 Energy examineThe purposed of an energy audit is to discover the energy consumption and cost of overall building and of its specific components, the structure, system and equipment. It is to generate energy improvement options, to project energy saving, to estimate the cost of energy improvement, calculate payback, and on this basis evaluate the various options.The code of practice mentions the energy audit in Hong Kong. As posit by EMSD, (2010) the technical guidance and inside information in respect of the energy audit requirements under the Ordinance. Energy audits conducted in accordance with this Energy Audit statute are deemed to have satisfied the relevant requirements of the Ordinance in the technical aspects. Energy Audit Code is developed by the EMSD in conjunction with various professional institutions, trade associations, academia and government departments.(EMSD 2007) In fact, the guideline of energy audit indications that an effective energy management tool. By identifying and follow outing the mea ns to achieve energy efficiency and conservation, not only can energy savings be achieved, but also equipment/system services life can be extended. all in all these mean savings in money.Based on the principle of The less energy is consumed, the less fossil fuels will be burnt, the power supply companies will generate relatively less pollutants and by-products. Therefore, all parties concerned contribute to conserve the environment and to enhance sustainable development.(International Congress ISPE/PDA Pharmintech 2010) Given that case study atSanofi Midy Research Center covers a renovation of a research centre included the data collection review of the documentation it is possible to identify the facility weak points. The example of site survey for verify the consistency of the documentation and the identify the major problems to identify areas more easily upgradeableAccording to recent research by (Robert Greenwald 2004), are presentations the overview of the energy audit and con ducting the energy audit process included data gathering, utility analysis, inventory and review of equipment performance, measurements and monitoring, identify potential energy conservation measures, analysis of saving potential, financial analysis and reporting.The (Minnesota Legislature and the Governor commissioned the Minnesota Department 2007) of Commerce to work with the University of Minnesota, Minnesota extract Colleges and Universities (MnSCU), and state agencies to identify barriers, describe the costs and benefits of actions that would jazz to an annual 1.5 percent energy savings energy used in buildings, and develop policy recommendations that could lead to those actions. The report provides background on energy savings in government buildings and addresses the questions asked by the state law. It also found that state government-owned buildings are a hearty potential source of energy savings. The government is in a unique position to think about the long-term implic ations of present day decisions. Through jumper lead by example, the government can serve as a platform for the development and implementation of energy savings programs, policies and technologies. That said, there are information, organization, and resource barriers to achieving energy savings in Minnesota government buildings.2.2 Energy Saving TechnicalAs a corollary (ASHRAE 2011) provide recommendations to fig a low-energy-use building and is not a minimum code or standard. The Guide provides both multidisciplinary design strategies and prescriptive design packages to significantly reduce energy consumptions in small to medium smudge buildings. flush though several design packages are provided in the document, this Guide represents a way, but not the only way, to build energy-efficient small to medium superpower buildings with 50% energy savings. Energy Standard for Buildings Except Low-Rise Residential Buildings. Use of this Guide can help in the design of major renovations that consume substantially less energy compared to the minimum code-compliant design, resulting in lower operating costs. This Guide presents a broad range of subject matter, including broad concepts such as the integrated design process, multidisciplinary design strategies, and design tips and good practices on specific energy systems, while the focus of this Guide, especially the later chapters, is on building and system details that can help achieve the desired results.(Dr. James Brodrick, 2002) disturb on surveys of the HVAC literature, identified 170 technology options that could potentially reduce the energy consumption of HVAC systems in commercial buildings. After developing first-cut energy savings potential estimates for each option, 55 options were selected for further study in consultation with a range of HVAC experts Each of the 55 options received further study, including more detailed investigation of their technical energy savings potential, current and future econo mics (cost), barriers to achieving their full market potential. Many of the 40 technologies have significant technical energy savings potentials. Many of the 15 technologies selected for refined study have significant technical energy savings potential, combined with attractive or reasonable naive payback periods. Three of the options, Novel Cool Storage, Variable Refrigerant Volume/Flow, and Adaptive/ woolly Control, had highly variable simple payback periods that did not readily translate into an average simple payback period, while the simple payback period for Microenvironments exceeded deoxycytidine monophosphate years.Except the above energy saving potential of Literature Review, some valuable Specific topics are shown as below.2.2.1 Automatic Tube Cleaning SystemAs the condenser is an important component in the chilled water system, the operating condition of the condenser is the key factor that affects the efficiency of the unit. However, the condenser will be seriously d eteriorated by the debris and foul ants accumulated in the tubes of the condensers. When fouling and scaling in the condenser increase, the heat transfer efficiency will be decrease, resulting in more power consumption of the chiller.The Engineering Department of The Park Lane hotel identified the above problem and started to install an automatic tube cleaning system called CQM for chiller in October 2003. The system has been running for 12 months. Feedback from operators and engineers are good, In the COP comparison approach, the percentage of energy saving was 11.9% and the average COP was modify from 3.7 to 4.2. ( Richmond Consulting Engineers, 2005 ).Further more, (Wallace Wu Dave Chan, 2003) proves that estimate the improvement on COP is around 11.8% and CQM Automatic Tube Cleaning System can greatly improve the heat transfer efficiency of the condenser tube and save significant amount of energy in water cooled chiller. Besides, from the economic analysis, it shows that the payback is less than 2 years.2.2.2 provide of the HVAC system to Water Cooled ChillerThe (EMSD 2000) of HKSAR completed a Preliminary Phase Consultancy Study (PPCS) regarding Wider Use of Water-cooled air conditioning system in Hong Kong was completed in April 1999. The PPCS established the technical viability of the wider application of WACS and its economic/environmental benefits. The implementation study for WACS in Hong Kong was commissioned in 2000 to examine in greater details on technical viability, financial viability, infrastructure works, land use, traffic impact, environmental/health issues, and regulatory control especially for nondomestic buildings.A study guide done by HKUST Research, (2005), describe energy saving in a hotel HVAC system was carried out. It included replacement of the chillers and pumps.In review the retrofit of the hotel HVAC system, the improved energy efficiency resulted from three aspects, i.e., improved energy efficiency of the chillers, improve d energy efficiency of the pumps and the intelligent control system. Comparing the COPs of the original and the new chillers, it is seen that the new chillers has an energy efficiency about 18% to 36% high than the original chillers which may contribute to about 14.4% to 28.8% of the total energy saving. The efficiency of the new pumps is estimated to be 30% higher than the original pumps. As the pumps generally consume about 20% of the total chiller/pump system energy, the replacement of the pumps contributes to about 6% of the total energy saving. Then, the remaining 27% to 45% of the energy saving should result from the intelligent control system. With the new system, 63% to 74% of the chiller/pump energy was saved. The result shows that a considerable amount of energy can be saved in hotels with a good control system and high efficiencies of the chillers and pumps.(Kenny Chan 2009) research claims the investigate for sustainable design and life cycle costing considerations in a dopting relevant air-conditioning system to cater for long range planning in facility/ criminal maintenance management. Form the research and analysis, conversion from ACAS to WCAS would save around 35% running costs.2.2.3 Variable speed drivesA case study done by ( G Jones 2009) to compares the energy consumption of the outward-developing fan when driven by a star/delta starter and using variable speed drives to control motor speed. During the initial monitoring of the energy consumption, the centrifugal fan was controlled by the original star/delta starter. This had been the method of controlling the fan since the machine was initially installed/ commissioned. After the fan had been running for over 390 hours the exact run-time and energy consumption was recorded. The Motor Control Warehouse then replaced the star/delta starter for a 22kW open loop Inverter. After optimizing the Inverter settings, the fan was used in normal production and after approximately 300 hours, as with th e star/delta starter the exact run-time and energy consumption was recorded. Changing the 22kW centrifugal fan control from a star/delta starter to an Inverter introduced an energy saving of 41.3%.( Lappeenranta x.x.2008 ) analyses the calculation of Fan and Pump energy saving tools calculation. With these programs energy consumption of variable speed drive control for fans and pumps can be compared to other control methods. With Fan centrifugal and axial fans can be examined and Pump deals with centrifugal pumps. By means of these programs also suitable frequency converter can be chosen from the ABB collection.2.3 Conclusion on the literature reviewThe chapters above have discussed the related information for the dissertation to assist estimate, measure, evaluate and track energy savings, quantifiable costs and benefits created as a result of implementing energy efficiency opportunities.Specific improve the understanding of how to forecast and measure energy savings, realize energy savings by accurately quantifying the whole of business costs, benefits and payback of energy efficiency opportunities, determine the economic value of an energy efficiency opportunity so that investment quality information is provided to company decision makers and quantify the accuracy range for each stage of the energy savings analysis.3. Methodology3.1 Research MethodologyThis dissertation is descriptive in nature it aims to describe the energy saving of the commercial building. beat wise, it focuses on the year 2009, when the research was carried out. Changes in commercial buildings energy consumption between earlier studies and the present one are also observed. To construct a comprehensive picture of the studied phenomenon, the present research utilized both quantitative and qualitative data and means of analysis.This study is divided into two parts. The theoretical part of the study is a literature review. This existing theory was used as a conceptual tool to gain a more structured understanding of the energy consumption and saving potential of commercial building. Based on the theoretical part, an initial understanding of the commercial building of energy use was built.The empirical part of the study consisted of one case studies that provided energy consumption of commercial building and the building description of Category, Heating and cooling system, etc. should be present. The research focused on describing the situation of the problem with the existing HVAC system and building and proposed energy saving method of renovation.The data collected in the theoretical part was also utilized in the empirical part in estimating the current energy consumption of commercial building.3.2 Data Collection3.2.1 Secondary data collectionSecondary data sources were utilized both in the theoretical part and the empirical part of this study. Most of the sources used in the literature review were either article published in journals and in industry magazines or c onference papers that were accessible through the databases of the Public library. In addition, publicly available resources such as reports from EMSD were used. The secondary data collected for the empirical part consisted of technical details from device manufacturers websites.3.2.2 Primary data collectionThe primary data for this research was collected used Hong Kong energy efficiency and conservation competition awards were organized by EMSD. These were used in the empirical part of the study. To estimate the energy consumption of the commercial building in Hong Kong. The dissertation consult the competition awards of the energy saving method to adopted for estimate the energy saving.3.2.3 Problems related to data collectionThe energy analysis was the most problematic part of the data collection phase. This was due to involve much formulation of the questions and lack of open source. It off out that did not have such information.In the device convergence case, the purpose was to compare devices in terms oftheir life cycle energy consumption. However, life cycle energy data was available foronly a few products. Information on the weight of the products was readily available on the manufacturers web sites. In turn, data from which energy consumption could be estimated had to be collected from various sources, including Manufacturer technical report, product descriptions at Internet retailers websites and external party sites. Even so, the data sometimes had to be completed with educated guesses.3.3 Data analysisThe collected data help to develop a strategic plan for energy decisions, just as they would for other key business decisions. A major focus of an energy management plan is performing a self-assessment to identify energy savings opportunities.4. Results, discussion and evaluationThe typical 34 storey Commercial Building situated at Causeway Bay of Hong Kong Island. used as an rank study in this dissertation was built in 1992. Overall the HVAC, electr ical and plumbing system in the building consumed total $ 8 million for the year. leave and develop potential energy saving improvement, operation and maintenance correction, reducing flows and resistance of HVAC system, considering more energy efficient equipment and system, lighting, electrical, control, heat recovery possibilities, solar, etc. Then, calculate the potential energy saving of the various improvements and estimate the retrofit costs involved. Lastly, evaluate payback and return on investments.4.1 Energy AuditingAn energy audit involves the arrogant review of the energy consuming equipment/systems in a building to identify energy management opportunities, which provides useful information for the building owner to decide and implement energy saving measures for environmental consideration and economic benefits.The purpose of an energy audit is to determine the energy consumption and costs of the overall building and its specific components, the structure, system and equipment, it is to generate energy improvement options, to project energy saving, to estimate the cost of energy improvement, calculate payback, and on this basis evaluate the various options.A good audit is diagnostic in nature, develops a valid prognosis of the cause of energy wastes, and leads to scientific establish remedies. There are two basic phases phase or type of audit, short walk through audits and in depth detail audits, either of the entire building or of only select parts of building.4.1.1 Collecting Building InformationThe audit group should then proceed to collect information on the building. The information should include-General building characteristics such as floor areas, numbers of end-users, construction details, building orientation, building facade, etc.Technical characteristics of energy consuming equipment/ systems, design conditions and parameters Building services design report with system schematic diagrams and layout drawings showing system characteri sticsEquipment/system operation records, including data logs of metered parameters on temperature, pressure, current, operational hours, etc.Record of EMOs already implemented or to be implementedRecord of maximum demand readingsOM manuals and testing and commissioning (TC) reportsEnergy consumption bills in previous three years.In general, it should be take for granted that the building manager would have information on general building characteristics and the OM personnel would keep the equipment/system technical and operation records. The audit team should determine the appropriate parties to be approached for information collection, the need to discuss with these parties for familiarization of the building, the equipment/ systems to be investigated and data verification and the need to discuss with selected end-users.The audit team should consider issuing questionnaires to end-users to collect information on thermal comfort, lighting comfort, operational hours of individual flo ors/offices, electrical equipment and appliances, etc.4.1.2 Conducting Site Survey and MeasurementMore activities should include the following actions- live to plan the site survey for the areas and the equipment/systems to be investigated.Develop energy audit forms to record the findings.Plan ahead on the site measurement to supplement or verify the information collected. The measurements should focus on equipment/systems that inadequate information is available to determine their efficiency and equipment/systems that appear to be less efficient.4.1.3 Analyzing Data CollectedAt this stage of the audit, the audit team has collected a lot of information on-Equipment/system characteristics obtained from site surveysEquipment/system performance data obtained from OM log sheetsEquipment/system performance data obtained from site measurements andEquipment/system operating conditions of equipment/systems based on design and/or general engineering practices.Based on the above, the audit te am should screen and spot the parameters with values and trends that deviate from what would be anticipated or required respectively. These are the potential EMOs. However, they should take into account the analysis of the irregularities caused by changes in occupancy or other activities.4.1.4 CostingTo identify the improvement works for the potential EMOs, calculations should be performed to substantiate the improvement works by quantifying energy savings. In evaluating the effectiveness of an EMO, the auditor has to calculate the payback period, net present worth or rate of return.Most calculations can be done using simple payback approach by dividing the EMOs capital cost by the cost of anticipated annual energy saving to obtain the payback period in years.However, if there are appreciable deviations between the trends of energy cost and the interest rate or if the capital costs of EMOs are to be injected at different stages with different energy savings achievable at different t imes, the audit team may have to perform a life cycle cost assessment that can better reflect the cost effectiveness of EMOs.4.1.5 Annual Monthly Energy Consumption ProfileBased on the energy consumption bills over past years (preferably 3 or more), the auditor should estimate the annual energy use of the building. Graphs of energy consumption against different mon

Marketing planning

Marketing planningIntroduction This assignment is submitted in fond(p) fulfilment of the marketing planning unit. I earn been asked to conduct macro- surroundingsal and micro environmental marketing audit to identify the authorized and key issues facing the arrangement I propose to launch a Fabindia store in Milan, Italy.The report outlines reasons for undertaking the audit and appraises the processes, models and techniques used for the audit. It also assesses the external and internal marketing environment for the organisation and summarises the impact of this analysis for the organisations marketing plan and marketing mix. Fin totallyy have proposed a marketing plan exposit intimately how it post be executed.1.About Fabindia1.1 HistoryThe first Fabindia outlet was set up in 1961 by John Bissell to provide a platformfor traditional artisans and printers to market their produce to typesetters case diversecraft traditions of India.1.2 Current PhilosophyEco-fri curiosityly, ethical hand crafted Indian products.MissionTraditional, ethnic products creating sustainable employment for craftsmen andartisans in rural India.1.3 Current laughingstock AudienceRetail-Age Group non specificSex male FemaleEconomic Class Upper and higher middle class.Geographical Places Metros, layer 2 tier 3 cities.Institutional BuyersHeritage hotels, resorts corpo assess houses.1.4 Current Product RangeGarments for men and women, Accessories, Home Linen and Furnishings,Home Products, Floor Coverings, automobile trunk Care Products and more recently, totalFood Products and ethnic jewellery.1.5 Timeline of its stores1976 1st retail outlet, New Delhi.By 2001 6 stores concentrated in the metro cities.By the end of 2004 20 stores.By the end of 2007 75 retail stores across India and in addition, stores in Dubai,Rome and Guangzhou in China.By 2008 99 stores.By 2009 108 stores.By 2011 prey of having 250 stores.Fabindia Retail Snapshot108 stores across 40 cities6 stores abroad. Dubai, UAE, Bahrain (three stores), Doha, Qatar and in Rome, Italy.Online Shopping Exports to 34 countries1.6 Sales tax2000-01 Turnover of 36 crore rupees2005-06 Turnover of Rs 130 crore.2007-08 Revenue of Rs 257 crore2008-2009 Revenue of Rs 300 crore. but growth more than halved to 17% from40% in 2007-08.By 2011 Target turnover Rs 1000 crore.1.7 Future PlansLeveraging the Organic Products section, childrens market.Expand nationally internationally.100,000 shareholders and five-fold outgrowth in skilled jobs in the rural sector.Reduce the number of defects in the products to a minimal which include bleeding of colours, shrinkage etc.2. Internal Audit2.1 SWOT AnalysisSTRENGTHSdifferentiable products,Diverse product mix,International appeal,Eco-friendly, ethical, graphic smart,Showcases diverse Indian craft traditions contemporary styles,Creates employment for craftsmen in rural India,Different categories of stores,Products all age groups form of economic stra ta,Constant development innovations product line,Partnering suppliers sourcing from 21 states across India,Big distribution network,In-house manufacturing, customer Loyalty,Manifold growth of most artisan suppliers linked all to Fabindia.No sensitiveness active the brand,Limited channels of business,Sourcing strategy skewed towards suppliers,Competition from brands having resembling product range,Inconsistent quality of products.WEAKNESSESTHREATSTime-lines and delivery schedules dependent on too many variables,Monitoring and Supervision contemporarising and bench marking of traditional skills based products,Building Capacity time and resource intensive,Not in touch with Fashion Trends,Competition from leading Italian brands stores.In store merchandising,Promoting e-business channel,Interactive website for customized patterningOrganic foods market,Customer acquisition Strategies,Growth in demand eco-friendly products,Growing interest Indianculture, handicrafts textiles ,Milan host for 1 of worlds most prestigious furniture and design gracefuls.Milan virtuoso of worlds major financial business centres,Worlds twenty-sixth fecundest city bypurchasing power.OPPORTUNITIES3. External Audit3.1 PESTEL AnalysisPoliticalChange in implementation of rules regulations with introduction of new government.Eg No foreign collaborations, no foreign goods and products approaching in the Italian market.Changes in policies by existing Indian government. Refer RESEARCH net.doc5.1.1EconomicalChanges due to economical descend.Eg. Reduction in employment rate purchasing power ofpeople, resulting in low sales.SocialSocial acceptance towards certain colors might vary according todifferent cultures and stratas of society.Eg Products in sparkly colors which are popular in India is notsocially accepted in Milan. Refer RESEARCH final.doc5.1.3TechnologicalUtilizing technology infrastructure of international standards.Eg. CRM software implemented in stores will help i nmaintaining centralized database.This will help Fabindia in retaining customers by building lastingrelationships improving Loyalty.Environmental hearty used for making products not ap elevated allowed byItalian Government.Eg. If products are found to be make of materials hazardous tothe environment the Italian government stick out take strict actionsagainst the company under the Environmental Protection Law.ReferLegalDifference in manufacturing standards , process , trading etc.Eg. Conformity to European standards and CE marking.Taxes for businesses in Italy. Refer RESEARCH final.doc5.1.63.2 Impact of Porters 5 Forces Threat of SubsitutesThere should not be threat of substitute to the products of Fabindia since they are eco-friendly organic products which have replaced the ordinary conventional products are in huge demand.Market Segmentation4. Market Segmentation Age GroupAll age groups.SexMale FemaleEconomic ClassNot specificGeographical PlaceMilan, Italy.Fabindia intends to continue expanding internationally currently 6 stores abroad.Milan very important city in Italy one of worlds major financial business centres.Main goal of Fabindia to promote vast diverse craft traditions of India.Since there is a growing interest among Europeans about Indian handcrafted products, Indian textiles, art cultures, Fabindia holds lot of potential in European market.Fabindia very ethical eco-friendly company which supports many causes Europeans corresponding being part of much(prenominal) endeavours.Fabindia does not target any specific age group or any specific economic strata, has something for every one.Fiera Milano citys ExhibitionCenter and Trade Fair complex is one of most important in the world Milan is one of fashion capitals of the world. Fabindia wants to increase its spheric reach, since lot of international buyers visit Milan, it can prove to be salient opportunity for it.The employment rate in Milanis 95-96% therefore the spending power of people is very high.Thus opening a store at Milan should prove to be beneficial.5. Proposed Marketing MixExecutionThey should carry out extensive market research, study kind of products established stores are selling. Meetings with designers artisans can be conducted designers concord inputs on current market trends and emerging designs to weavers brainstorm advanced(a) techniques.They can design stylish products emphasizing on Indian craftsmanship explore rich Indian fabrics with numerous surface ornamentation techniques.Range will be unsharedly designed for the Milan market.They can take customer feedback finished their online website know preferences of their customers design accordingly.Product range fine combinations of Indian aesthetics and western design sensibility.Farmers will supply Fabindia with organic varieties from places like Himachal Pradesh, Punjab, Coorg, Tamil Nadu.They believe giving farmers fair price for their produce, and supplying very highest qua lity food to their customers.5.2 PriceProducts different price ranges. Products will be affordable, will give value for money. It hasexpanded its range- to provide something for all its customers.ExecutionType of ProductsPriceRange ( Euros)Textile-based product range5-15Home Products range20-300Fabindia Organics3 onwardsFabindia Sana3-305.3 Place Fabindia should be strategically laid at Sesto San Giovanni full of commerce, restaurants, hotels, malls, quetch station, red line of Metro. Brand Zara home is located there Habitat is near by.2 eco hotels Hotel la Residenza Via Scialoia or Hotel Ariston, Galeria del Corso near Sesto San Giovanni can be considered. topographic point del Duomo is also very good location which attracts lot of people boutiques, bookstores big stores to indulge in elegant and cultural shopping.They can haveconcept stores or premium stores located in famous historical landmarks and renowned big heritage for convenience of potential buyer and creation of overall sensation.ExecutionWith help of Search patch Space (SOS), can find appropriateplace.FREE Service They are paid by advertisers.Impartial Advice Their mission is to find space that meets YOUR requirements.They provide with swerve made options that match your specifications.They take care of entire search show options, help draw a shortlist, arrange foryou to view space, compare prices, make your final selection and arrange your move-in date.5.4 PromotionPromoting its products, mostly through posters, word of mouth and events.Placing ads in local newspapers about ongoing events organized in store to increase awareness about store locations, usinglot of in-store posters to create consumer awareness about products and rural suppliers etc., putting up hoardings, creating awareness social causes which they represent associate with, promote through website.ExecutionGlobalCom PR-Network is worldwide group of full service PR and Marketing Communications agencies. It more than 40 partners and affiliated agencies cover all member states of European Union. Their strength is their local expertise in all European market.Portfolio includesPublic Analyst RelationsMarketing CommunicationsOnline MarketingMarket ResearchMedia planningBy engaging professional PR agency conversant with Italian Market environment, different strategies can be devised to promote store.5.5 Process It believes Delighted Customer is our Best BrandAmbassador. It should focus on customer retention build loyal customer base.ExecutionIt should implement CRM software aims to help maintain centralized database to stay fresh records of customers, details about past purchases, preferences or by having Value Customer Card gives history customer details each time, card is swiped.They should have synergetic events for customers with design team, customers can get style tips, Feedback sessions between Fabindia designers customers loyal customers can be given certain privileges get sp ecial invites to events organized by Fabindia like exhibitions, concerts. will help it in retaining customers improving loyalty.5.6 Physical EvidenceBy endorsing and sponsoring events- creative communication tools innovative activities attract customers gaining maximum publicity possible.ExecutionHaving in store posters to create consumer awareness about dyes used in products, products and where they come from, i.e. rural suppliersHaving dcor and layouts highlight traditional and natural focus, having catalogues giving details current merchandise, LCD screens playing how artisans work manufacture, brochures informing Fabindia events lined up, Indianised eco-friendly stylish carry bags with personalized thank you cards, leaflets informing causes Fabindia supports eco-friendly practices it follows.5.7 PeoplePeople working with and for Fabindia representatives of Fabindia. They should be aware of all its products, be knowledgable, friendly, helpful, attentive, speak lot of languages and develop good customer relations.Store personnel encouraged to transgress clothes that reflect Fabindia ethos of traditional and natural look.ExecutionFabindia should register on website of recruiting agency help it to find its potential employees.Fabindia should train people with required knowledge and customer service.People working in store can attend regular training programmes.6. Ansoffs Grrowth Strategy6.1 MARKETING STRATEGY FOR FABINDIA MILAN USING ANSOFFS GRIDMilan potential market with growing interest among Europeans about Indian handcrafted products, Indian textiles cultures Fiera Milano citys Exhibition Center one of most important in world visited by manyinternational buyers, great opportunity for Fabindia help increase global reach.Fabindia very ethical eco-friendly company, supports many causes Europeans like being part of such endeavours.Currently Fabindia store in Rome, Italy has been doing well.Fabindia expand internationally to create b rand awareness in new place, to launch itself in different parts it should use Market Development Strategy .Fabindia very popular for its fashion apparels mostly made of homespun cotton. But one cannot wear cotton due to climatic conditions in Milan.The colors of Fabindia products mostly very colourful, but due to gloomy tolerate in Milan larger population prefer pastels mid tones of all colors summers and winters black n brown rules.Milan fashion capital houses leading brands, famous for their innovative designs.It is important for Fabindia to have its merchandise designed their range planned as per market in Milan I strongly suggest Product Development Strategy. workCore values of Fabindia to provide quality natural products, reflect the unique Indian culture hence Isuggeststore can be located infamous historical landmark have layouts highlight traditional and natural focus.Store showcases rich legacy of Indias traditional weavers, offering wide array of styles conte mporary and sophisticated, must create distinct image location must be chosen with utmost care.Fabindia very ethical eco-friendly brand Ariston hotel first ecological hotel of Italy- perfect place for exclusive Fabindia store.Ariston hotel situated in heart of Milan, 500 metres from the Duomo, monuments ,few steps from Via Torino shopping area.With privileged position compared to other 3-star, near Piazza del Duomo andsubwaystops(to New Fair). actually well serviced bytram, bus.Very strategic location connected to all important places renowned museums, monuments famous shopping streets, restaurants, pizzerias movie theaters near the Duomo awareness could be created through advertising strong-arm evidences.Since new market no awareness, needs to carry out lot of promotional activities. usher out organize events like authentic Indian food festivals, , interactive workshops with Indian designers, showcasing the rich Indian culture.Fabindia associated with social causes, c reate awareness about involvement and brand. Can organize social events , sponsorships, advertise in magazines, hoardings, posters to create consumer awareness,Know what you wear Workshop. Makes customers more aware of work put in for their fabric and helps them with association with brand FabIndia.Lot of competition leading established brands in Milan selling similar products.They need to create distinct image come up product range exclusively for Milan after doing a detailed market research, products with innovative ecofriendly stylish designs withIndianised touch. Lot of importance laid on aesthetic appeal good quality.Should focus on customer retention work on strategies to build a loyal customer base.These are my recommendations for launching Fabindia in Milan.Feedback MechanismMystery Shopper ProgramIn mystery shopper program, person hired by management goes to every store and shops there and then give feedback according to customer perspective.Store people never come to know or suspect anyone whether he is a mystery shopper or not. Detailed feedback is given to every individual shop. It consists of minute details signages outside, restrooms, behavior of staff.So it serves as a tool to provide separate customer satisfaction.Feedback registers Feedback questionnaire to be filled on the websiteCustomer feedback by maintaining visitors register to record customer views or through questionnaires filled online.Store managers can bone up report, periodically reviewed by Product Selection Committee to know about buying pattern among consumers.CRM software Value Customer CardCRM software can be implemented to maintain centralized database to keep customer record details or by having the Value Customer Card history details of customer each time, card is swiped.Can get to know fast slow moving products, popular styles can accordingly do range planning.Can have meeting every month to review performance discuss measures to be taken to improve sal es increase consumer satisfaction.

Alice Paul Essay -- essays research papers

Alice Paul was born on January 11,1885,in Moorestown, New Jersey. Her father, whodied when Alice was sixteen, was a businessman,banker, and property owner. The Pauls lived in the weeny Quaker community of Moorestown. One ofthe beliefs of the Quakers was equality of the sexes.As a young girl, Alice helped the Quaker suffr advancemeetings with her mother.     Alice Pauls father left them enough money so she could attend the exclusive SwarthmoreCollege in Pennsylvania. She graduated in 1905 asa biology major, but after discovering politics in hersenior year, she went on to attend the New York School of Philanthropy. She majored in sociology,and spent all of her spare time working for thewoman suffrage in New York.      In 1907, Paul pull in a masters degreein sociolgy. She went to England to continue herwork toward her doctorate degree. She was begin-ning to realize that she couldnt variety show the situation by social work alone, but needed t o change the actual laws. Women had no voice ineither England or America to change any law.     The suffrage movement was differentin England than in the States. British suffragistshad begun wild women protests in 1905. They would sneak into male political meetings, anddisrupt the meetings by shouting questions, wavebanners and be arrested.      As Alice Paul became more involvedwith the Womens kind and Political Union, shewas warned of possible imprisonment. This threatdid not prevent her from sneaking into politicalevents. She was arrested ten times in England,three of which ended in prison time. tour inprison, she continued to protest the governmentsrefusal to let women vote or speak publicly, bynot eating. She was force-fed for four weeks.     She returned to America in 1910, whereshe continued her studies and her suffrage work.She brought corroborate from England with her the sametactics used to get the attention of the newspapersand the government. She brought the wild suffragettemovement back to the United States.     She teamed up with Lucy Burns, whoshe spent prison time with in England. They went... ...egan goading membersof the House and Senate to vote for the nineteenthamendment, but kept losing. Then in October 1918,he pleaded for woman suffrage as part of thewar effort. The amendment was passed in 1920, enceinte women the rights of citizens, including theright to vote.     She did not stop there. In 1922, shereceived her Law degree and in 1928 formedthe World Party for Equal Rights for Women.Pauls equal rights amendment was "Equality ofrights under the law shall not be denied or abridgedby the United States or by any State on accountof sex."     Living in Switzerland, she encouragedan Equal Rights Treaty and a World code of Law.Equality was then written into the United NationsCharter.     Paul f ought for equal rights the rest ofher life, nationaly and internationally. In1977, atthe age of 93, she died in her childhood town of Moorestown.     Alice Paul was a remarkable, unstop-pable feminist and social reformer, who paved theroad we now walk.     

Religion In America, 1492-1790 :: essays research papers

Religion in the New World exploded into theland with the colonization of thousands of immigrants. Itplayed an important function in the growth of thought inthe West. Religion was one of the first-class honours degree concepts to sparkthe desires of people from other countries to emigrate tothe new lands. While many religions blossomed on theAmerican shores of the Atlantic, a basic structure held formost of them, being predominantly derived fromPuritanism. Jamestown, the first permanent Englishsettlement, showed the link the new settlers had to Godwhen Sir Thomas Dale verbalise the following in 1610 Be notdismayed at all For scandall cannot doe us wrong, God willnot let us fall. permit England knowe our willingnesse, For thatour work is healthy Wee hope to plant a nation Where nonebefore hath stood. (Morison, pg. 89) Originally, whenChristopher Columbus landed on the shores of America en path to Asia, he was not interested in discovering newlands. Most Europeans at the time wer e looking for a wayto get at the oldest part of the aging World, the East Indies.An marine route was sought to the countries that werebelieved to contain riches beyond Europeancomprehension, thus avoiding having to pay hundreds ofmiscellaneous middlemen involved with trade, also makingfor a shorter journey. These motivations were accompaniedby the desire to convert the ethnical to Christianity, whichhad been declining since the rise of Islam. By uniting someof the Western Asian countries with Christianity, Europeanshoped to form a formidable police squad against the Turks andrecover the worthy Holy Land (Morison, p.55).Columbus was sure that God had sent him to complete thistask and that he was destined to carry the good Christianways to heathen lands. A Spanish settlement was made in1609 named Santa Fe in what is now New Mexico (Curti,p.167). Hundreds of thousands of Pueblo Indians werethen converted to Christianity. At the very(prenominal) time, across thecountry, England wa s establishing its first settlement atJamestown. Originally the English, who colonized alongsidethe French, saw settlements in the New World as strictlytrading posts, intactly they soon realize the valuableopportunities that lay in the virgin lands of America, such ascotton, tobacco, and several other agricultural productsthat could not be found anyplace else. Many of Englandsproblems could be solved in America, and so colonizationbegan. When the earliest settlers came, England had theresponsibility to continue the Protestant Church, andprevent the Catholic Church from converting the entireNative American population of North America (Morison,p.105) A potential Protestant refuge could be based therein the threat of cultured wars or a change of religion.Religion In America, 1492-1790 essays research papers Religion in the New World exploded into theland with the colonization of thousands of immigrants. Itplayed an important role in the development of thought inthe West. Religio n was one of the first concepts to sparkthe desires of people from other countries to emigrate tothe new lands. While many religions blossomed on theAmerican shores of the Atlantic, a basic structure held formost of them, being predominantly derived fromPuritanism. Jamestown, the first permanent Englishsettlement, showed the link the new settlers had to Godwhen Sir Thomas Dale said the following in 1610 Be notdismayed at all For scandall cannot doe us wrong, God willnot let us fall. Let England knowe our willingnesse, For thatour work is good Wee hope to plant a nation Where nonebefore hath stood. (Morison, pg. 89) Originally, whenChristopher Columbus landed on the shores of America enroute to Asia, he was not interested in discovering newlands. Most Europeans at the time were looking for a wayto get at the oldest part of the Old World, the East Indies.An ocean route was sought to the countries that werebelieved to contain riches beyond Europeancomprehension, thus avoiding having to pay hundreds ofmiscellaneous middlemen involved with trade, also makingfor a shorter journey. These motivations were accompaniedby the desire to convert the heathen to Christianity, whichhad been declining since the rise of Islam. By uniting someof the Western Asian countries with Christianity, Europeanshoped to form a formidable team against the Turks andrecover the valuable Holy Land (Morison, p.55).Columbus was sure that God had sent him to complete thistask and that he was destined to carry the good Christianways to heathen lands. A Spanish settlement was made in1609 named Santa Fe in what is now New Mexico (Curti,p.167). Hundreds of thousands of Pueblo Indians werethen converted to Christianity. At the same time, across thecountry, England was establishing its first settlement atJamestown. Originally the English, who colonized alongsidethe French, saw settlements in the New World as strictlytrading posts, but they soon realized the valuableopportunities that lay in the virgin lands of America, such ascotton, tobacco, and several other agricultural productsthat could not be found anywhere else. Many of Englandsproblems could be solved in America, and so colonizationbegan. When the earliest settlers came, England had theresponsibility to continue the Protestant Church, andprevent the Catholic Church from converting the entireNative American population of North America (Morison,p.105) A potential Protestant refuge could be based therein the threat of civil wars or a change of religion.