The Yankee Stadium’s History Free Essays

Any conversation of the historical backdrop of New York City without a background marked by the New York Yankees would resemble depicting Pavarotti without referencing his voice. What's more, any conversation of the Yankees without including Yankee Stadium would be ridiculous. Also, when you get directly down to the quick and dirty of recorded real factors incorporating the Yankees and Yankee Stadium you need to incorporate Babe Ruth. We will compose a custom exposition test on The Yankee Stadium’s History or then again any comparable point just for you Request Now The Babe, the â€Å"Bambino,† the â€Å"Sultan of Swat,† was the explanation the Yankees constructed Yankee Stadium, and that is the reason they call it â€Å"The House That Ruth Built.† The Yankees are past any sensible uncertainty the head group in Major League Baseball. They have been in the World Series multiple times since the American League was molded in 1900 †and they have won 26 of them. The groups tied for second most World Series Championships are the Cardinals and Athletics with 9. The Yankees have been in New York since 1903; beforehand they were in Baltimore known as the Baltimore Orioles. They began in New York as the Highlanders, playing at Hilltop Park (today, the Columbia-Presbyterian Medical Center sits where Hilltop Park was found). They played in the Polo Grounds (offering it to its host group, the National League New York Giants) from 1913 to 1920. The Yankees turned out to be prominently known as the â€Å"Yankees† around 1904; and when the New York Herald gave an account of April 15, 1906, â€Å"Yankees dominate opening game from Boston, 2-1,† it was pretty much authority they were not, at this point the Highlanders. In the interim, following the birthplaces of Yankee Stadium appropriately incorporates a short relating of how Babe Ruth got to the Yankees; he was the flash that lit the fire that put Yankee Stadium in the Bronx. By 1919, a solid contention had existed between the Boston Red Sox and the Yankees for quite a long while. A youthful Boston pitcher who was additionally an inconceivable slugger, Babe Ruth, pounded the Yankees on numerous events, including Opening Day at the Polo Grounds on April 23, 1919. As per The New York Times (4/24/1919), â€Å"Babe Ruth dominated the match for the Red Sox in the primary inning when, with Jack Berry on a respectable starting point, he pummeled out a fortunate home run†¦Ã¢â‚¬  Final score, Red Sox 10, Yanks 0. There had been some uncertainty regarding whether the incredible Ruth would even play for Boston in 1919; Ruth had been a hold-out in the spring, following a thrilling season as a pitcher and slugger, and a glorious World Series for Boston in 1918, wherein he dominated two matches (throwing 13 scoreless innings in a single game) and gave Boston power at the plate. It was to be Boston’s last World Series triumph until 2004. In the spring of 1919, Ruth was waiting for $15,000 per year, as indicated by a New York Times story (3/19/1919): â€Å"Ruth†¦wants $15,000 for one year or will sign an agreement calling for $10,000 every year for three years.† The feature in The New York Times on December 27, 1919 read, â€Å"Ruth Talks Of Retiring†; the story said Ruth is â€Å"‘through with significant alliance baseball’ except if the administration of the Boston American group Club is set up to fulfill his need for $20,000 a year.† The New York Times covered March 22, 1919, that â€Å"Babe Ruth Finally Signs with Boston,† for an announced $27,000 for a long time. Boston proprietor Harry H. Frazee’s past best offer had been $8,500, the Times detailed. Stood out from today’s dollar esteem $27,000 would be worth around $540,000; and despite the fact that $27,000 doesn’t sound like much contrasted with the $2.5 million unique expense of building Yankee Stadium †or to the compensations today’s players draw. (Indeed, Derek Jeter’s 2003 pay was around $15,000,000; he went to the plate multiple times; figure it out and see Jeter earned around $30,000 per at-bat). Be that as it may, to the normal New Yorker in 1920, Ruth’s pay was a tremendous amount of cash. A huge number of American young men were battling in Europe in WWI (a huge number of them kicking the bucket), and 650,000 Americans had passed on as of late due the flu scourge. Times were unpleasant, without a doubt. Interim, after Ruth clubbed 29 homers in 1919, an October twelfth Times article hailed him as the â€Å"mastodonic mauler†; New York clearly was in wonder of this whiz. And afterward, to the extraordinary shock of Gotham, the probably the greatest game occasions of the century hit the features of The New York Times with the clout of a Ruthian amazing pummel (1/6/1920): â€Å"Ruth Bought by New York Americans For $125,000, Highest Price in Baseball Annals.† The story detailed that Ruth’s procurement gave the Yankees â€Å"the hard-hitting outfielder long desired.† After grappling with the Yankees, for $40,000 on a two-year bargain, the Yankee proprietor Colonel Jacob Ruppert before long took out a $150,000 protection strategy on the Babe, exceptional around then. Furthermore, curiously precisely one year to the day after the Times story hailing Ruth’s appearance in New York, the Times feature (2/6/1921) rang: â€Å"Yankees To Build Stadium In Bronx.† In the article, Yankee proprietors Colonels Jacob Ruppert and Tillinghast L. Huston declared they had bought 10 sections of land â€Å"on the east bank of the Harlem River,† somewhere in the range of 157th and 101st Streets, from the domain of the late William Waldorf Astor. â€Å"On this landscape there will be raised a gigantic arena, which will outperform in seating limit any structure heretofore worked for the settlement of admirers of baseball,† the Times’ article proceeded, in regular emotional style, yet there was no byline so the writer was obscure. Unearthing was to start â€Å"in half a month and building will be facilitated by each mean known to human effort,† the article clarified. The Yankees didn't report what they paid for the ten sections of land, however the Times had it â€Å"on great authority† the tab was $500,000, and the evaluated cost of the anticipated arena was $2 million. The â€Å"running time from Forth-second Street by tram is just around 16 minutes,† the story proceeded, and by â€Å"elevated train it will take around 2 minutes more to arrive at the Yankee’s arena than is important to get to the Polo Grounds.† The procedure of road closings â€Å"will offer no obstacles,† the Times clarified; and the arena was anticipated to be â€Å"triple-decked,† which was made important â€Å"by the desire for considerably more noteworthy support than that of the last season.† The undeniable reference was to the way that Babe Ruth isn't just the best grand slam hitter in the game, yet he was the greatest film industry attract all diversion scenes around then. Preceding the choice to manufacture the arena on its current site, the Times (2/6/1921) announced that â€Å"until a couple days† before February 5, 1921, Yankee proprietors â€Å"were slanted to support the site of the Hebrew Orphan Asylum, somewhere in the range of 136th and 138th boulevards, close Broadway.† The arena was to hold 75,000 fans in the long run, however from the start it would just hold 50,000 (5,000 of them cheap seat seats); yet â€Å"when the expense of building materials turns out to be all the more about normal,† the Times clarified, the limit will be expanded to the higher figure. This â€Å"massive and most alluring structure has been intended to enhance the new playing field of Babe Ruth and his pals,† the story went on. â€Å"Concrete and steel of the best quality accessible will be used†¦Ã¢â‚¬  Before any structure could start, and before contractual workers were to be recruited to do the structure, the endorsement from City Hall must be acquired. And keeping in mind that New York City Mayor John F. Hylan first supported on the choice for the city to â€Å"release its enthusiasm for the bed of Cromwell Avenue† in the Bronx, which ran legitimately through the site, he in the end approved the arrangement. Nonetheless, the sub-feature on March 18, 1923, in the Times goaded the city hall leader a piece by yelling that â€Å"Mayor Hylan Holds Up Decision on shutting down of Street Running Through Site.† â€Å"I won't put my mark on the authority document,† the city hall leader said in the Times, â€Å"until I see if everything is regular.† The â€Å"Sinking Fund Commission† had just approved the street’s demolishment, and stressed that the mayor’s delay â€Å"might keep the Yankees from playing in their new arena in 1923,† the article demonstrated. Interim, inside two or three weeks, the city hall leader signed off on the shutting down of two avenues, which â€Å"came as an individual triumph for colonel Jacob Ruppert, President of the Yankees, who had toiled for over a year to get the essential consent for the end of the streets,† the Times announced in late March, 1922. [Note: the dates on the New York Times’ chronicled archives don't generally mirror the exact date of publication.] Not just did New York political administrations must be jumped by Ruppert, the Astor family lived in England, and since it was their property that was the site utilized for the arena, their assent was basic. After authentic endorsement, the Times’ feature â€Å"Yankees Call For Bids on Stadium† had a little publication incline in the sub-feature, â€Å"If Contractor Are Rational In Prices Work Will Begin at Earliest Possible Date.† The date on this article can’t be right (it is 1/4/1922), so it probably been in late February. â€Å"Excavation, evaluating, workmanship, sewers and downspouts, strengthened cement, lathing and putting, decorative metal work, tile work, terrazzo floors, carpentry, latrines, material, sheet metal, steel scarf, painting and wood bleachers† all went out to offer, the Times detailed. What's more, it saw

Rate of Diffusion of Potassium permanganate, Potassium dichromate, and Methylene blue1

Pace of Diffusion of Potassium permanganate, Potassium dichromate, and Methylene blue1 1 The Effect of Molecular Weight and Time on the Rate of Diffusion of Potassium permanganate, Potassium dichromate, and Methylene blue1 logical paper submitted in halfway satisfaction of the necessities in General Science I research center under Prof. Diana Rose Gonzales, first sem., 2013 2014 _ 2 Unique The impact of sub-atomic weight and time on the pace of dispersion of potassium permanganate, potassium dichromate, and methylene blue was tried utilizing a petri dish of agar water gel with three wells. The three substances were dropped all the while in the petri dish. Potassium permanganate (MW 158g/mole) expanded quickly (14.50 mm) while Methylene blue (MW 374 g/mole) steadily expanded (9.50 mm) as it were. Along these lines, atomic weight and time influences the pace of dissemination. Presentation Dissemination is a development of atoms from a region of higher fixation to an territory of lower focus. The particles will combine when they are equitably dispersed and have arrived at balance. Potassium permanganate, potassium dichromate, and methylene blue are substances utilized as markers and oxidizing specialists. Potassium permanganate is utilized in natural mixes and utilized monetarily to filter water and sanitizer. It is synthetically used to control certain lessening mixes. Potassium dichromate is utilized to decide ethanol fixations in arrangements and decide the nearness and virtue of silver. Investigates likewise recommend that potassium dichromate works as an operator that cause hereditary transformation against DNA fix lacking strains of Escherichia coli. In conclusion, methylene blue is utilized as color to distinguish microscopic organisms and nucleic acids. The color will have the most profound shade of blue when in contact with acids. As pointers and oxidizing operators, the substances expressed above must demonstrate that their dissemination must be quick so as to do their capacities. Because of their distinction in sub-atomic weight, a test was directed to demonstrate what substance is increasingly recommendable _ 3 to be utilized in getting the pace of dispersion. To additionally check the analysis pace of dissemination was likewise tried with time. To test this, agar water gel is one of the materials was utilized. Agar water gel is a substance that capacities as a thickener, stabilizer, and emulsifier since it don't soften at room temperature until it is warmed to 85oC and the sky is the limit from there. Likewise, with a stopwatch the substances were estimated (mm) at a customary three moment interim for thirty minutes. The examination plans to decide the impact of atomic weight and time on the rate dispersion of potassium permanganate, potassium dichromate, and methylene blue. The explicit goals are 1. to demonstrate that atomic weight influences the pace of dispersion; and 2. to clarify why atomic weight should likewise be seen with time MATERIALS AND METHODS In testing the impact of atomic weight and time on the pace of dispersion of potassium permanganate, potassium dichromate, and methylene blue, agar water gel was utilized. Three jugs with dropper containing the substances and a petri dish with agar water gel were given to each gathering. As three individuals from the gathering dropped all substances together in the wells of the agar water gel, the stopwatch began at the same time with it. One part estimated every well of the agar water gel with a ruler to get the underlying estimation (mm) of the wells. The gathering at that point drew the underlying appearance of the trial (Figure 4.1.). One part was doled out to flag the gathering if three minutes have passed and the individual from the gathering who is doled out to _ 4 measure the wells will promptly however cautiously measure the zone with the ruler. There was an ordinary brief interim for thirty minutes. Following thirty minutes, the gathering at that point drew the last debut of the examination Figure 4.2. Likewise, the gathering processed for the normal of the substances by including all the information that were assembled partitioned by number of time interims. To test the impact of time on the pace of dissemination the information assembled were registered by halfway rate. Fractional rate is processed by deducting the distance across of shaded region promptly (di-1) preceding the width of hued region at a given time (d1) partitioned when d1 was estimated (t1) short the time preceding t1 (ti 1). Once more, the normal of every substance were processed by including all the date isolated by the quantity of time interims. A chart looking at the normal pace of dissemination of every substance was plotted against its sub-atomic load in Figure 4.3. Likewise, a chart looking at the fractional pace of dispersion of every substance was plotted against the time passed in Figure 4.4 _ 5 Potassium dichromate Methylene blue Potassium permanganate Figure 4.1. Introductory appearance of the substances in the agar water gel wells. Potassium dichromate Methylene blue Potassium permanganate Figure 4.2. Last debut of the substances in the agar water gel wells. _ 6 RESULTS AND DISCUSSIONS As found in Table 4.2, potassium permanganate (MW 158 g/mole) has the most noteworthy normal pace of dispersion with 11.32 mm/min, trailed by potassium dichromate (MW 294 g/mole) with 10.86 mm/min, and methylene blue (MW 374 g/mole) with 7.95 mm/min. In Table 4.3, potassium permanganate has the most elevated halfway paces of dissemination with 0.35 mm/min, trailed by potassium dichromate with 0.32 mm/min, and methylene blue with 0.19 mm/min. This outcomes shows that atomic weight has an impact in the rate of dispersion. At the point when the atomic weight is lower then the pace of dispersion will be higher which means they have a circuitous relationship. Additionally, with time the pace of dissemination of the substances diminished, which means time and the pace of dispersion has a circuitous relationship. _ 7 Synopsis AND CONCLUSION The impact of atomic weight and time on the pace of dispersion of potassium permanganate, potassium dichromate, and methylene blue was resolved. Each substance was dropped at the same time with one another into the petri dish with agar water gel. With a stopwatch the time was seen with an interim of three minuets in thirty minutes. Following thirty minutes, the normal of the circuit and the fractional rates of dissemination were registered. Results demonstrated that potassium permanganate (MW 158 g/mole) which has the least atomic weight had the most elevated normal pace of dispersion contrasted with methylene blue (MW 374 g/mole), which has the best atomic load among the three. In time, the perimeter (mm/min) of every substance expanded since there was dispersion in the agar water gel wells. Consequently, sub-atomic weight and time has an impact in the expansion, decline, gradualness, and speed of the dissemination of substances. By and by, further experimentation must be done to improve the aftereffects of the investigation. It is prescribed to utilize different substances, an alternate medium other than the agar water gel, a more drawn out timespan to test the dispersion, an increasingly steady condition, and have more preliminaries to watch better outcomes. _ 11 Writing CITED Senior member, John A. Lange's Handbook of Chemistry, twelfth ed.; McGraw-Hill Book Company: New York, NY, 1979; p 9:4-9:94. Ebbing, Darrell D. General Chemistry third ed.; Houghton Mifflin Company: Boston, MA, 1990; p 137. Andrew Mills, David Hazafy, John A. Parkinson, Tell Tuttle and Michael G. Hutchings The Journal of Physical Chemistry A 2009, 113 (34), 9575-9576 Chongmok Lee, Yoo Wha Sung, and Joon Woo ParkThe Journal of Physical Chemistry B1999, 103 (5), 893-898 _

Choosing a Lined Writing Paper For Kids

Choosing a Lined Writing Paper For KidsA lined writing paper for kids can come in a variety of shapes and sizes. The only thing you have to consider is the size of the child's handwriting. Since there are a variety of handwriting styles, the lining paper for kids is able to make the handwriting look bright and full of life. So there are several choices available for your kids.Kids have different handwriting and they also learn to write differently. With that in mind, it will be important to find a paper that would help their writing look a little more appealing. At times, you may be a little reluctant about this decision. It would be nice if there was something that could magically transform a child's handwriting. After all, it should be a child-friendly paper.When choosing a lined writing paper for kids, you have to consider how the pattern will make your kids' handwriting look more appealing. You will probably want to choose a kid-friendly paper. Some children's handwriting is very appealing and others are not.You need to think about how the pattern will be presented. If it will look right in the page, it will be important to find a lined writing paper for kids. You can get a lot of different styles from different kinds of lined paper. If you choose the right one, the choices will expand your choices.Kids who write words at the top of the page or on the left or right sides are great choices. These are the kinds of writing styles that kids learn to write with sooner. So they can easily be taught to write well without too much difficulty. On the other hand, some kids do not do this as much.It is very easy to differentiate between the two styles. There are four variations on the lined writing paper for kids. These include the single handed writing style, double handed style, left handed style and right handed style. The single handed style is the kind of writing style that starts with the first finger.The double handed style starts with the second finger and end s at the index finger. The left handed style starts at the middle finger and ends at the ring finger. The right handed style starts at the ring finger and ends at the pinkie finger. With this variety, it will be easier for the kids to learn to write using a traditional style.Therefore, it will be necessary to consider what style will make your children's handwriting looks good. Just remember that a lined writing paper for kids can be a great tool in teaching them to write.

About Arata Isozaki, Architect of Japanese New Wave

Arata Isozaki (born July 23, 1931 in Oita, Kyushu, Japan) has  been called emperor of Japanese architecture and an engineer of controversy.  Some say he is Japans guerrilla architect for defying conventions, challenging the status quo, and refusing to establish a brand or architectural look. Japanese architect Arata Isozaki is known for using bold, exaggerated forms and inventive detailing. Born and educated in Japan, Arata Isozaki often integrates Eastern ideas into his designs. For example, in 1990 Isozaki wanted to express a yin-yang theory of positive and negative space when he designed the Team Disney Building in Orlando, Florida. Also, because the offices were to be used by time-conscious executives, he wanted the architecture to make a statement about time. Serving as offices for the Walt Disney Corporation, the Team Disney Building is a startling postmodern landmark on the otherwise barren stretch of Floridas Route I-4. The oddly looped gateway suggests gigantic Mickey Mouse ears. At the buildings core, a 120-foot sphere forms the worlds largest sundial. Inside the sphere is a serene Japanese rock garden. Isozakis Team Disney design won a prestigious National Honor Award from the AIA in 1992. In 1986, Isozaki was awarded the prestigious Royal Gold Medal from the Royal Institute of British Architects (RIBA). Education and Professional Accomplishments Arata Isozaki studied at the University of Tokyo, graduating in 1954 from the Department of Architecture in the Faculty of Engineering. In 1946, noted Japanese architect Kenzo Tange (1913 to 2005) had organized what became known as the Tange Laboratory at the University. When Tange received the 1987 Pritzker Prize, the jury citation acknowledged Tange to be an inspiring teacher and noted that Arata Isozaki was one of the well-known architects who studied with him. Isozaki honed his own ideas about Postmodernism with Tange. After school, Isozaki continued an apprenticeship with Tange for nine years before establishing his own firm in 1963, Arata Isozaki Associates. Isozakis first commissions were public buildings for his hometown. The Oita Medical Center (1960), the 1966 Oita Prefectural Library (now an art plaza), and the Fukuoka Sogo Bank, Oita Branch (1967) were experiments in concrete cubes and Metabolist concepts. The Gunma Museum of Modern Art (1974) in Takasaki City was a more high-profile and refined example of his previous work and the beginning of his museum architecture commissions. His first US commission was in Los Angeles, California, the Museum of Contemporary Art (MOCA) in 1986, which led Isozaki to become one of Walt Disneys architects. His design for the Team Disney Building in Orlando, Florida (1990) put him on Americas Postmodernist map. Arata Isozaki is known for using bold, exaggerated forms and inventive detailing. The Art Tower Mito (ATM) in Ibaraki, Japan (1990) bears this out. An otherwise subdued, low-level arts complex has at its center a shiny, metallic array of triangles and tetrahedrons rising over 300 feet as an observation deck to the cultural buildings and the Japanese landscape. Other notable buildings designed by Arata Isozaki Associates include the Sports Hall, Olympic Stadium in Barcelona, Spain (1992); Kyoto Concert Hall in Japan (1995); Domus Museum of Mankind in La Coruà ±a, Spain (1995); the Nara Convention Center (Nara Centennial Hall), Nara, Japan (1999); and the Weill Cornell Medical College, Qatar (2003). In Chinas 21st-century building boom, Isozaki has designed the Shenzhen Cultural Center (2005), the Hezheng Museum of Natural History (2008), and with Yasushisa Toyota hes finished Shanghai Symphony Hall (2014). Well into his 80s, Arata Isozaki took on the CityLife Project in Milan, Italy. Along with Italian architect Andrea Maffei, Isozaki completed  the Allianz Tower in 2015. With 50 floors above the ground, Allianz is one of the tallest structures in all of Italy. The modern skyscraper is stabilized by four buttresses. It was possible to use more traditional techniques, Maffei told designboom.com, but we preferred to emphasize the mechanics of the skyscraper, leaving them exposed and emphasizing them with a gold color. New Wave Styles Many critics have identified Arata Isozaki with the movement known as Metabolism. More often, Isozaki is seen as the catalyst behind the imaginative, Japanese New Wave architecture. Beautifully detailed and composed, often conceptually powerful, the buildings typical of this avant-garde group are strongly single-minded, writes Joseph Giovannini in The New York Times. The critic goes on to describe the design of MOCA: Pyramids of various sizes serve as skylights; a half-cylinder barrel roof covers the library; the main forms are cubic. The galleries themselves have a visual stillness about them that is particularly Japanese....Not since the French architectural visionaries of the 18th century has an architect used solid geometric volumes with such clarity and purity, and never with his sense of playfulness. (Joseph Giovannini, 1986) Learn More Arata Isozaki by Arata Isozaki and Ken Tadashi Oshima, Phaidon, 2009Japan-ness in Architecture, essays by Arata Isozaki, MIT Press, 2006The Museum of Modern Art, Gunma by Arata Isozaki, Phaidon, 1996New Wave Japanese Architecture by Kisho Kurokawa, Wiley, 1993 Sources Metropolitan Museum of Art; Modern Architecture by Kenneth Frampton, 3rd ed., TH 1992, pp. 283-284.Arata Isozaki: From Japan, A New Wave of International Architects by Joseph Giovannini, The New York Times, August 17, 1986 [accessed June 17, 2015]Interview with Andrea Maffei on the Realization of Milans Allianz Tower by philip stevens, designboom, November 3, 2015 [accessed July 12, 2017]

Corporate Governance and Company Law - Free Essay Example

Sample details Pages: 7 Words: 2070 Downloads: 8 Date added: 2017/06/26 Category Law Essay Type Narrative essay Did you like this example? INTRODUCTION Modern business enterprises taking tremendous effort to maximize their profits by implementing their own market strategies, corporate governance has lot to do under such circumstances. Corporate governance comprehensively refers to the main mechanism which involves in the process of regulation and existence of an enterprise.The separate legal entity concept where a company possesses and its distinct nature from the members who fund in their money towards the capital of the enterprise and empower its management to a team of specialized managers. In this context the people who pooling their money in to company are shareholders and the specialist managers who are assign to direct and manage are well-known as Directors of the company. It is significant that there is no universal definition with related to the corporate governance but it develops a system where the directors are entrusted with duties and responsibilities in relation to the management of the company, more fully it dealt with the ways of bringing the benefits of the investors (the principals) and the managers (the agents) it is based on a system of collective board responsibility and accountability as a whole. It is evident that the corporate governance focuses towards for the maximum welfare to the shareholders by regulating the duties of the directors of its company. The well known fact is that since corporation posses a separate legal entity from its managers and the owners, it has some obligations towards constituencies at large, where it declares certain moral obligations to the enterprise to consider other à ¢Ã¢â€š ¬Ã…“stakeholdersà ¢Ã¢â€š ¬Ã‚ . In the context of law the term stakeholder consist of suppliers, employees, customers and the society at large. It is often said that the corporate governance is also consider about social contract where a company deals with the interest of other stakeholders. The Organization for Economic Co-Operation and Deve lopment expressed the view of above as follows; à ¢Ã¢â€š ¬Ã…“Corporate governance involves a set of relationships between a companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s management, its board, its shareholders and other stakeholders.1à ¢Ã¢â€š ¬Ã‚  As stated earlier, the main function of the corporate governance is to monitor the functions of the directors of a company and regulate its duties by providing the mechanism so that to certify that they do not misuse their powers. Various methods of mechanism can be seen in UK which can be used to regulate the duties of its directors, one of prominent out of all is the Companies Act of 2006. There is also recognition to secure creditors by virtue of statutory provisions, under the Companies Legislation of 2006 and also under the Insolvency Act of 1986. This research paper basically deals with the debate between the shareholder and the stakeholder models in UK, it also elaborate the new concept that has been introduced to protect stakeholderà ¢ â‚ ¬Ã¢â€ž ¢s interest in order to gain overall success to the company. SHAREHOLDER PRIMACY MODEL Basically this model thinks shareholder as the owner of the enterprise, and mainly deals with the profit maximisation of the company. The view of shareholders as the owners of the company is reflected in the Cadbury Report on the Financial Aspects of Corporate Govenance2.The most idealistic way to put it would be that the shareholders are not the owners of the company but the owners of the shares of the company. This followed by the land mark case of Salomon v Salomon Co,3 Which elaborates the separate legal entity concept of a company. Since the concept of shareholders model deals with capital of the company, the main objective of the shareholder theory considered as to be the profit maximization of the firm, as already identified that à ¢Ã¢â€š ¬Ã…“the shareholders as the owners of the businessà ¢Ã¢â€š ¬Ã‚ , the only social responsibility of business is to increase its pr ofitsà ¢Ã¢â€š ¬Ã‚ 4. In UK and Anglo American countries recognised that the directors have fiduciary duties to conduct the affairs in the interests of its members. This is only because that the shareholders are residual owners, in that sense they have power to control the rights of the other stakeholders. According to Andrew Keay shareholders are the ultimate risk bearers, so in a situation of insolvency and it ends up in liquidation the claims of the shareholders will be settled first, subject the claims of the creditors. Since they consider being the residual claimants, shareholder will not get the priority above any other stakeholders5.Meantime shareholders acted as ultimate risk-bearer and face uncertain difficulties by pooling their assets to the company, they are secured by the fiduciary duties of the directors. Shareholder model is again supported by individualism and laissez à ¢Ã¢â€š ¬Ã¢â‚¬Å"faire concepts, which respectively focuses on individual property rights and l ess state interference .In this context individual ownership rights and maximising profits are tend to be the sole objective of the free trade market and a competitive, economic, productive system. Thus the prime goal of a company is to consider about the profits while social wellbeing and functions to be left to the government and social bodies. The shareholder concept values the profits of the shareholders as the prime objective of a company. If the company draw back their attention towards other interests, the directorial activities of the company become less important and reduce the investments. Under these circumstances directors compel to produce ample wealth in order to please the shareholders by any means. Compared to US corporate system, UK corporate system has given more powers to shareholders and they even able to remove executive directors and to welcome hostile takeover bids. The crisis of 2008 revealed the lacuna of the existing corporate system in preventing ris k taking exercises and inordinate remuneration, mostly among banks and other financial bodies. The Maxwell scandal brought major reform to UK corporate system. And it emphasised many results which were flagged up as scandalous corporate behaviour. The other primary Corporate collapses such as, Asil Nadirà ¢Ã¢â€š ¬Ã¢â€ž ¢s Polly peck, BCCI and Coloroll also demean the U.K. Corporate Governance system. THE STAKEHOLDER VALUE MODEL The alternative stakeholder model of the company has variable advantages, through creating culture of long term investment plans, it helps to develop the profitability and the productivity of the company other more deals with the environment and the social aspects of the society. The definition of stakeholder is very vast and it basically includes all the parties who are having the interest towrds the particular company, such as employees, suppliers, consumers, creditors and the environment. Mainly these shareholders can be divided in to two basic g roups, without the primary shareholders, the company will not carry on its functions, and consist of suppliers, creditors, employees, and lastly the customers. The second group of shareholders means, local media, central and local government and regulators, environment and the community at large. As described by Freeman, without those groups and their support the organisation would cease to exist6.The concept of stakeholderism is that all parties work together for a common objective and to gain shared profits, à ¢Ã¢â€š ¬Ã‹Å"opting in to the businessà ¢Ã¢â€š ¬Ã‹Å"s project7.The stakeholders who fund their substantial resources to the firm, so rather than making the maximum profit, to the shareholders, the company must value its stakeholders. The Stakeholder value model does not enable to sacrifice sole profit to the stakeholders, thus it suggests the duty of the directors to invoke the interests of the long term owners of the company and achieve benefits indirectly. Sole minded objectives on shareholders mostly unproductive and tend to corporate greed8.the sole objective of the shareholder model lower by various financial crises such as Enron and World com. In 1932,Dodd, emphasised that the directors of a company are suppose to use their powers in a way which enables the social responsibilities of a company to its members such as employees, consumers and public at large9.the problem in this scenario is that how to evaluate the directors powers, since there is no regulatory standards to control their powers, and it might lead to misuse the powers at large. ENLIGHTENED SHAREHOLDER VALUE This model basically continues the aspect of profit maximisation, and also to maintain a wealthy relationship with employees, creditors, customers, suppliers and the community. The enlightened shareholder model emerges as a result of the financial crises on 2008-2009 and also to focus on long term prospective financial decisions10.the UK Companies Act of 2006 is int roduced this model. This approach mainly focuses to cater the interest of the typical stakeholders so as to obtain a long term shareholder wealth. Thus it is essential to draw the attention towrds the section 172 of the UK Companies Act of 2006. (1)A director of a company must act in the way he considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to- (a)the likely consequences of any decision in the long term, (b)the interests of the companys employees, (c)the need to foster the companys business relationships with suppliers, customers and others, (d)the impact of the companys operations on the community and the environment, (e)the desirability of the company maintaining a reputation for high standards of business conduct, and (f)the need to act fairly as between members of the company. (2)Where or to the extent that the purposes of t he company consist of or include purposes other than the benefit of its members, subsection (1) has effect as if the reference to promoting the success of the company for the benefit of its members were to achieving those purposes. (3)The duty imposed by this section has effect subject to any enactment or rule of law requiring directors, in certain circumstances, to consider or act in the interests of creditors of the company11. The section 172,tries to invoke the rights of the other stakeholders but maintaining the paramount objective of the interest of the shareholder. Lawmakers wanted the directors to drive towards the success of the company for the benefits of its members as a whole ,by considering the values of such other various stakeholders. Even though there is such duty embodied to the directors, there is no regulatory standards is proven and identified to ascertain the duties. Thus it basically left to the directors and again it solely lies within the parameters of t he directorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ discretion and their skills. GOOD FAITH The basic requisite is that to act in good faith which means to exercise reasonable care and due diligence ,skill. In the case of Charter bridge Corp Ltd v. Lloyds Bank Ltd,the court needed to ask whether a director of a company being an intelligent and honest man having involving, could in the whole instances, have believed reasonably that the transaction was for the benefit of the enterprise12. In the case of Brady v. Brady, Nourse LJ states that à ¢Ã¢â€š ¬Ã…“it is hard to distinguish a company(artificial person ) and the persons interested in it, who are those persons?, where a company is going and solvent ,first and foremost, come the shareholders, present and the futureà ¢Ã¢â€š ¬Ã‚ 13.Comman Law position deals in ,Pervical v. Wright14,court held that directors owes a fiduciary duty against its shareholders only in limited situations where a company subject to take over offers. RIGHTS WITHOUT REMEDY If any member who is recognised in the clause (a) to (f).of section 172(1), is maltreated and its solely because of the breach of the provision of the directors, in such instance whether such aggrieved party can sue director? The answer is à ¢Ã¢â€š ¬Ã…“noà ¢Ã¢â€š ¬Ã‚ , from all prominent authors. And only remedy against such situation is to entertain injunctive relief. INSOLVANCY ACT Contrary to the above the UK Insolvency Act 1986, enables the alternative via ESV duties, the section 212 of the Act, let any creditor or liquidator of an insolvent company to make an application to courts to review the conduct of a director or any other person involved as a manager of the company. And if he finds guilty court may order to contribute the funds to the company by way of compensation15. DISQUALIFIACTION RULES Shedule 1 of the Disqualification act reflected to the ESV model. Where it protect the welfare of the customers and creditors of the company. CONCLUSION The ultimate objective of the provision 172 conveys that, success of the company can be better achieved by fulfilling the interest of the other stakeholders of the company. Even though the access is given to the legitimate interest of the wider stakeholders, the basic objective still remains as the interest of the shareholder. Don’t waste time! Our writers will create an original "Corporate Governance and Company Law" essay for you Create order

Renewable Energy Sources Comparing How Effective They Are...

renewable energy sources comparing how effective they are at producing energy in the UK, taking climate and geographical location into account. I will also be discussing some environmental and political factors behind the need for renewable energy technology such as climate change and Kyoto protocol and focusing on two specific forms of energy production, solar panels and wind turbines also discussing the difference between direct and indirect energy collection. Energy use in the UK is at its highest in history in the years 1990 to 2001. It rose by 11% Nearly all this power is made available by the burning of fossil fuels. The fossil fuels that exist in the earth are formed by compression of plants and animals remains by over millions of†¦show more content†¦These are called greenhouse emissions which are thought to cause the climate to become warmer. Construction and manufacture of buildings and their components account for two thirds of the carbon dioxide released into the atmosphere, affecting its composition by changing the natural cycle of the earth, polluting it and causing global warming. This in turn could cause sea levels to rise by up to 0.5 metres by the end of the century. Left: for nearly half a million years atmospheric concentrations of CO2 have remained in the 200 to 300 parts per million but in 2001 they exceeded this range to 370 ppm the IPCC suggest they could be as high as 700 ppm by the end of the twenty-first century. (IPCC DATA) The threat of global climate change caused by CO2 from fossil fuel combustion is one of the main reasons why there is a growing consensus on the need to reduce these by 60%-80% by the end of the twenty-first century and ultimately a switch to low or zero carbon energy sources such as renewable ones. Buildings account for 40% of all energy used in the EU so European and UK governments have developed policies that aim to tackle energy usage in buildings and construction by a number of targets, grants and incentives that aim to increase the amount of renewable energy we use in our homes and reduce emissions. Renewable energy can be defined as ‘energy obtained from the continuous or repetitive currents of energy recurring in the natural environment’ there

Loan monitoring system RRL free essay sample

?2. 0 RELATED LITERATURE 1. (http://www. oum. edu. my/oum/v3/download/CBAD2103. pdf) In this age of information, almost all fields of endeavor such as education, manufacturing, research, games, entertainment, and business treat information systems as a need. Indeed, every activity in our daily life today requires people to get involved in the use of information systems. Many organizations today use information systems to offer services with greater satisfaction to customers, to access a wider range of information, to handle Business changes at a greater speed, and to increase the productivity of workers. Based on a number of researches, an effective information system should be able to exceed customer expectations and fulfill business needs. As such information technology, a subset of information systems, has become the prime reason for the success and failure of a company to compete in business. This illustrates the impact of information technology on business operations today. As a result, designing an information system of high quality is important so that organizations can compete successfully in the global market. In Lending institutions, having an automated Loan System that store,update,retrieve and monitor data efficiently and faster is an edge to be more competitive and progressive in their business. In this chapter the researchers highlight on the study of the concepts concerning the processes of the system and similar studies related to the system. 2. 1 Concepts 2. 1. 1 What is Information System ? 2(http://en. wikipedia. org/wiki/Information_systems#The_discipline_of_information_systems) Information system (IS) is the study of complementary networks of hardware and software that people and organizations use to collect, filter, process, create, and distribute data. The study bridges business and computer science using the theoretical foundations of information and computation to study various business models and related algorithmic processes within a computer science discipline. Computer information system(s) (CIS) is a field studying computers and algorithmic processes, including their principles, their software and hardware designs, their applications, and their impact on society while IS emphasizes functionality over design. Any specific information system aims to support operations, management and decision making. In a broad sense, the term is used to refer not only to the information and communication technology (ICT) that an organization uses, but also to the way in which people interact with this technology in support of business processes. Some authors make a clear distinction between information systems, computer systems, and business processes. Information systems typically include an ICT component but are not purely concerned with ICT, focusing instead on the end use of information technology. Information systems are also different from business processes. Information systems help to control the performance of business processes. According to Alter, S. (2003) in his book , â€Å"18 Reasons Why IT-Reliant Work Systems Should Replace ‘The IT Artifact’ as the Core Subject Matter of the IS Field,† argues for advantages of viewing an information system as a special type of work system. A work system is a system in which humans and/or machines perform work (processes and activities) using resources to produce specific products and/or services for customers. An information system is a work system whose activities are devoted to processing (capturing, transmitting, storing, retrieving, manipulating and displaying) information. Information system has been defined in terms of two perspectives: one relating to its function; the other relating to its structure. From a functional perspective an information system is a technologically implemented medium for the purpose of recording, storing, and disseminating linguistic expressions as well as for the supporting of inference making. From a structural perspective an information system consists of a collection of people, processes, data, models, technology and partly formalized language, forming a cohesive structure which serves some organizational purpose or function. The functional definition has its merits in focusing on what actual users -from a conceptual point of view- do with the information system while using it. They communicate with experts to solve a particular problem. The structural definition makes clear that IS are socio-technical systems, i. e. , systems consisting of humans, behavior rules, and conceptual and technical artifacts. 2. 1. 1. 1 What is Information Technology? Information technology is a subset of information systems. Specifically, it can be defined as the study, design, implementation, support or management of computer-based information systems. These systems could include software as well as hardware such as computers, servers and networks. Information technology also often governs the acquisition, processing, storage and dissemination of digitized information, or data, generated through the disciplines of computing and telecommunications. A career in information technology often requires a degree in computer or information science and can offer several different career paths, such as information security, network or database administration, infrastructure management, computer programming and software development. 2. 1. 1. 2 Information Systems vs. Information Technology 3(http://www. floridatechonline. com/online-degree-resources/information-systems-vs-information-technology/) As technology has become more advanced, the role it plays in today’s movies and television shows has also grown considerably. Although the entertainment industry likes to group computers and the people who build and maintain them under a single â€Å"information technology† umbrella, the fields of information technology and information systems actually refer to two distinct careers. However, since these fields are often used interchangeably in casual conversation, most people don’t make a distinction between them or other similar variations within the industry. The public perception that these terms can be used equally to describe the same field has often caused confusion for those who are interested in pursuing a technology-related career. Although each of these fields deal with computers, they have distinct characteristics and specific career paths that require different education and training. 2. 1. 1. 3 Information System Components 4(http://araku. ac. ir/~a_fiantial/ISR_Lec_[4]. pdf) A system is a set of related components, which can process input to produce a certain output. Every system requires a form of data input. For example, an ATM machine accepts data when you enter the PIN number. A washing machine accepts data when you select the start buttons. They process the inputs and produce their respective outputs. In an information system, input data consist of facts and figures, which form the systems raw material. Information is data that has been usefully processed. However, an information system does not only contain data and information. There are also other elements inside the system, which are related and are in support of one another. The presence of these related elements makes information more useful whereby, it can be made available, can be processed, distributed, manipulated, saved, and so on. This combination gives rise to a system, which is orderly and as such it is called an Information System. The activity of converting data into information is called a process. An information system contains the following FIVE main components: Hardware Information systems hardware refers to all types of hardware and the media used for input, processing, managing, distributing and saving information that are being used in an organization. Examples of the hardware are the physical computers, networks, communication equipment, scanners, digital drives, and so on. Hardware is the physical embodiment of an information system. It is one of the main elements which creates the information system cycle. Software Software consists of two categories the system software and the application software. 1. System Software controls the computer and contains the operating system and device drivers, which can communicate with the hardware. It can also modify data into a new form, prevent viruses and make copies. 2. Application Software- contains programs which can help users and enable companies to perform business functions. Users can increase productivity with the presence of application software such as spreadsheets, word processing, ordering systems, and accounts receivable. Data refers to the raw facts on any thing or entities like student names, courses and marks. The raw data that has not yet been provided can be processed to become more useful information. Information is an organized, meaningful and useful interpretation of data . such as a company’s performances or a students academic performance. Information systems change data into information, which is useful and capable of giving a certain meaning to its users. Process explains the activities carried out by users, managers and staff. Process is important for supporting a certain business model available as written documents or as reference materials on-line. The procedure for using a certain matter is very wide and very important to ensure that it can be implemented with success. All the information system components contain management and implementation procedures on their own, and they are different from each other. Human – There are the users as well as the managers who are provided invaluable information whether inside or outside the company. Users can be broken up into three categories, which are: 1. End-Users, consisting of the staff, customers, suppliers and others who communicate with the information system. 2. Internal Users, including the managers, technicians, sales representatives and corporate officers. 3. External Users, consisting of the customers who use the companies system for performing transactions, suppliers who use the system for planning sales, and the staff who use the system outside office hours. 2. 1. 1. 4 Different Types of Information Systems 1. Transaction Processing System The earliest electronic system in business consisted of computer and programs used to record and report transactions. Called transaction processing systems, or TPS, they are most widely used information systems. TPS’s predominant function is to record data collected at the boundaries of organizations, in other words, at the point where the organization transacts business with other parties. TPS’s include cash registers, which record sales; automatic teller machines, which record purchases. After these data are collected, the IS either automatically processes the data into information or stores it for later processing on demand. 5( Oz, 2002. ,Pp. 21-23) It is a type of information processing system, software and hardware combination, which supports Transaction processing. Transaction processing is a type of computer processing in which each individual indivisible task, called a transaction, is worked upon and executed as and when it comes. The response to requests is immediate. In contrast to this is batch processing in which a batch of requests are stored and then executed all at once. A transaction Processing System is also used to collect, store, retrieve and modify transactions executed by an organization. Transaction processing systems are helpful in three areas: 6(http://publib. boulder. ibm. com/infocenter/txformp/v6r0m0/index. jsp? topic=%2Fcom. ibm. cics. te. doc%2Ferziaz0019. htm) 1. System runtime functions Transaction processing systems provide an execution environment that ensures the integrity, availability, and security of data. It also ensures fast response time and high transaction throughput. 2. System administration functions Transaction processing systems provide administrative support that lets users configure, monitor, and manage their transaction systems. 3. Application development functions Transaction processing systems provide functions for use in custom business applications, including functions to access data, to perform intercomputer communications, and to design and manage the user interface. 2. Management Information Systems 7( Oz, . 2002 ,Pp. 21-23) In the 1970’s, managers realized that they could use computer-based information systems for planning, control, decision making, and problem solving, rather than just for reporting transactions. These new types of information systems came to be known as management information systems, or MISs. Management information system, or MIS, broadly refers to a computer-based system that provides managers with the tools to organize evaluate and efficiently manage departments within an organization. In order to provide past, present and prediction information, an MIS can include software that helps in decision making, data resources such as databases, the hardware resources of a system, decision support systems, people management and project management applications, and any computerized processes that enable the department to run efficiently. DECISION SUPPORT SYSTEMS designed to help organizational decision makers make decisions. DSS usually have three major components: a database, a model base, and a dialogue module. The database contains data relevant to the decision to be made. The model base contains one or more models that can be used to analyze the decision situation. The dialogue module provides a way for the decision maker, usually a non-technical manager, to communicate with the DSS. By running the data and possible decisions through one or more models, the decision maker can compare possible solutions to the problem at hand. The DSS allows the manager to test or propose different solutions and see what the results may be before committing to any particular model. The first decision support systems were designed to support individual hen computing technology was more primitive and more difficult for non-technical people to use, an intermediary often used the DSS for the manager. The intermediary was usually a staff person who had the computer skills the manager lacked to work with the DSS. The manager would then use the output to help decide which course of action to take. Due to early technical limitations, each individual or specific DSS had to be designed and built one at a time. Now, many decision support systems run on microcomputers. The models are relatively easy to construct, change, and interpret using such software programs as electronic spreadsheets. Tools like spreadsheets and fourth-generation language (4GLs) are called DSS generators because they are general purpose tools that can be used to develop many specific DSS with relative ease. Executive Support Systems Another relatively new form of DSS is referred to as executive support systems (ESS) or executive information systems (EIS). Executive support systems are designed specifically for high-level executives who may not have many computer skills have very little time to devote to any given situation An ESS is relatively easy to manipulate and usually provides graphical presentations on several different pre-defined topics (see Figure 5). Some executive support systems allow an executive to drill down into the data to a deeper, more specific level. For example, an executive who sees that sales have decreased for the month in the North American market may want to find out which segments of the market are doing best. The executive would then ask for the same information by segment and, seeing that the Western U. S. segment had the best performance, the executive may then want to see which sub-region had the best performance. Once the information is presented at this level, the executive would see that Southern California had done the best. The executive may then want to examine the information by city, and so on. EXPERT SYSTEMS 8(http://www. prenhall. com/divisions/bp/app/hoffer/student/supp2. html) Different from any of the other classes of systems we have discussed so far, expert systems (ES) attempt to codify and manipulate knowledge rather than information. By knowledge, we mean understanding acquired through experience, deep and extensive learning. Expert systems are based on principles of artificial intelligence research. Artificial intelligence is the branch of computer science devoted to creating intelligence with machines. Typically users communicate with an ES through a dialogue during which the ES asks questions and the user supplies the answers. The answers are then used to determine which rules apply and the ES finishes with a recommendation based on its rules. One of the most difficult parts in building an ES is acquiring the knowledge of the expert in the particular problem domain. Specially trained people called knowledge engineers perform this knowledge acquisition. Knowledge engineers are similar to systems analysts; however, they are trained to use different techniques, as determining knowledge is considered more difficult than determining data. 2. 1. 2 Traditional Loan System in Rural Banking 2. 1. 2. 1 What is a Loan? 9(http://en. wikipedia. org/wiki/Loan) In finance, a loan is a debt evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments; in an annuity, each installment is the same amount. The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent. 2. 1. 2. 2 Who provides a loan? 10(http://www. wisegeek. com/what-is-a-lending-institution. htm#didyouknowout2) A lending institution is any type of financial organization or institution that provides loans to borrowers. There are many different types of lenders in the marketplace today, ranging from banks and credit unions to mortgage and payday loan companies. The range of loan types offered by any one financial institution will vary, depending on the structure of the organization. Typically, all lenders will charge some rate of interest for the amount of funds borrowed, and require the borrower to commit to a contract that spells out the terms for repayment. One of the more common examples of a lending institution is a bank. The ability to provide loans is only one of several services offered by banks, but consumers often think of approaching the bank where they already have existing accounts such as checking and savings when they are in need of financing for the purchase of a home, a car, or even a personal loan of some type. A bank is a depository institution, a trait that is not universally shared by all types of lending institutions. 2. 1. 2. 3 What is a Rural Bank? 11(Miravite, 1976,Pp. 2) The term â€Å"Rural Bank† means any bank organized and incorporated in accordance with the provisions of the Rural Banks Act for the purpose of providing the means of facilitating and improving the productive activities of small farmers, merchants and their cooperatives serving rural industries and enterprises through easily accessible credit facilities on reasonable terms. Rural Banks are regional unit banks, hence they cannot establish branches, agencies, or extension offices on a nationwide basis. Borrowers 1. Eligible Borrowers The following may borrow or loan from a Rural Bank: a. A farmer who may be an individual or an organized cooperative owing not more than 50 hectares of agricultural Land. b. A merchant whose investment does not exceed P 50,000. c. An Operator of a rural industry or enterprise with investment not exceeding P50,000; and d. An Operator of an essential rural industry producing goods ordinarily purchased by the low income groups , and useful or necessary in their daily economic activities. These borrowers likewise must have character (integrity of purpose as evidenced by promptness in paying debts, and reputation for honesty), capacity (management ability and competence), and capital. 2. Ineligible Borrowers 12 (Miravite, 1976,Pp. 142-143) a. Officials and employees with respect to the rural bank to which they are assigned or in which they are conducting examination. Officials and employees of other departments, offices or other units of the Central Bank . during the period of time that an application or any paper of such rural bank is being evaluated, processed or acted upon by such personnel. 2. 1. 2. 4 Non-supervised and Supervised Credit Lending Operations 13(http://hiring. monster. com/hr/hr-best-practices/recruiting-hiring-advice/job-descriptions/loan-officer-job-description-sample. aspx) Non-supervised Credit Lending Operation A. Short-term or Production Loans: Short term loans are of three kinds: Agricultural, Commercial and Industrial. a. Agricultural Loans Agricultural loans may be granted to a farmer or to a duly registered cooperative owning or cultivating as tenant, lessee etc. , not more than 50 hectares of land dedicated to agricultural production. b. Commercial Loans The loan may be granted for the purpose of purchasing commodities for resale, which are considered necessities or semi-necessities and are of general acceptability and quick turnover. Retail or wholesaler merchants whose capital investment does not exceed P 50,000 may be granted commercial loans c. Industrial Loans This loan may be granted for any of the following purposes: 1. Expenses for labor to manufacture goods which are in demand, readily saleable , have a quick turnover, and considered necessities or semi-necessities, or essentials or semi-essentials; 2. Purchase of raw materials to manufacture or process these goods; and 3. Marketing of these goods. An industrial load may be granted to: 1. An operator of rural industry or enterprise whose capital investment does not exceed P 50,000; and 2. An operator of an essential rural industry or enterprise (irrespective of amount of capital investment) which produces goods ordinarily purchased by the low-economic groups and are useful or necessary in their daily economic activities. Supervised Credit Lending System 14(Miravite, 1976,Pp. 168-179) Supervise Credit is a system of lending under which a farmer or any other type of borrowers agrees in writing that he will apply proven farm or production practices necessary to conserve the land, improve its fertility and increase its production, and abide by the approved farm plan and budget jointly prepared by him and a duly accredited supervised credit technician . 1. 2. 1. 2. 5 Loan in charge employees 15(http://www. americasjobexchange. com/appraiser-job-description) 1. Loan Officer- develops loan packages and evaluating applicant information and documentation prior to approval and release. Job Duties: Evaluates loan applications and documentation by confirming credit worthiness. Improves loan applications and documentation by informing applicant of additional requirements. Rejects loans by explaining deficiencies to applicants. Approves loans by issuing checks or forwarding applications to loan committee. Completes loan contracts by explaining provisions to applicant; obtaining signatures and notarizations; collecting fees. Helps customers by answering questions; responding to requests. Maintains customer confidence by keeping loan information confidential. Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations. Accomplishes bank mission by completing related results as needed. 2. Loan Appraiser Responsible for determining the monetary value of merchandise, property, or business assets for a company, including real estate and other assets. Primary Responsibilities 2. Perform detailed inspections on property to determine value, factoring in dates, quality, and age of property. 3. Use data such as incorporating cost, market and income approaches to property valuation. 4. Produce written appraisals for clients, government agencies, or companies 5. Compile research in detailed reports 6. Correctly identify discrepancies between the property’s description and its actual state. 7. Demonstrate ability to analyze a problem coherently and provide precautionary advice before a purchase 8. Work on a client-to-client basis, making appraisals for a variety of reasons. 3. Loan Clerk 16(www. onetcodeconnector. org )- work with customers who are seeking loans and also prepare loan paperwork and loan contracts. They only need a high school diploma but also receive relevant training from their employers. Read on to learn more about becoming a clerk for the lending industry. Loan Clerks are responsible for clerical matters, including preparing, auditing and finalizing forms or contracts. They ensure the creditworthiness of interested parties through reference checking. Loan Clerks can work more specifically as loan service clerks, who maintain payment records, or as loan closers, who organize and execute closing procedures . 4. Loan Collector 17 (http://hr. fas. harvard. edu/files/fas-hr/files/loan_collector_ii-52. pdf) responsible for collection of more complex delinquent accounts. Contacts debtors and necessary officials to reconcile outstanding balances, initiates legal action when appropriate, and assists in coordination of collection of systems and procedures. 5. Loan Operations Manager 18(https://www. fnblg. com/custom/fi/fnblagrange/fb/disclosure/Loan-Operations-Manager. pd )- responsible for managing the Loan Operations Department of the Bank. Effectively support the lending team for both banks. Develop and implement best practices in loan operations related processes and procedures. Pro active leader and team player with the ability to be influential and establish positive working relationships across the organization. 2. 1. 2. 6 Manual Loan System Procedure 19(Miravite, 1976,Pp. 142-143) 1. Loan Application Form and contents The loan application filed by a qualified borrower must be in form prescribed by CB and should contain information stating the amount applied for, term desired, collaterals offered and purpose of the loan with itemized estimates of intended disbursement of expenses. 2. Action by Bank The bank upon receipt of the application, shall conduct a credit investigation through its inspector to include verification of the existence of the project, the collaterals offered , the actual credit needs and the repayment capacity of the borrower. The manager then processes the loan application by interviewing the applicant and in the proper cases, respectable citizens of the community, and requiring him to submit a statement of assets and liabilities. On the basis of the application, the inspector’s report and the interview, the manager submits a report and the interview, including therein information as to applicants eligibility to borrow, purpose of the loan, and credit risk. 3. Disclosure Statement under Truth in Lending Act At this juncture the manager , complying with the provisions of the Truth in lending Law and the implementing regulation issued by the Central Bank . 4. Approval of Loan Application The approving authority in Rural Banks for loan applications is its board. However, the board may delegate it to the manager/president or to the credit committee . 5. Execution of Documents by borrowers after it is approved; the borrower is notified to go to the bank to execute proper documents. 6. Release of Loan The loan should be released on staggered basis as required by the specific needs of the project to avoid diversion of loan. 2. 1. 3 Automated Loan System 20(http://www. investorwords. com/14175/computerized_loan_origination_CLO. html#ixzz2rLSqYcg2) A system used by Financial institutions. , it is a type of information System that falls under the category of Transaction Processing system and a Decision Control System that is developed with the use of computers to facilitates Loan operations smoothly efficiently and hassle-free in a shorter period of time. 2. 1. 3. 1 The Need for an Automated Loan Processing System 21(http://blog. newgensoft. com/the-need-for-automated-loan-processing-system) Today, customers are more knowledgeable and more demanding than ever. They are aware of all the options available to them and, if a lending organization is not able to process a loan application within a desirable time frame, they are quick to switch to some other organization that can very well do so. Banks and financial institutions need to realize that to maintain loyalty customers demand convenience apart from attractive interest rates. Often banks are challenged by the manual processing of loans, creating spiraling labor costs and backlogs of files preventing loans from closing on schedule. This translates into loss of business to competition. For this reason, many Indian banks and financial institutions are now following the footsteps of their global counterparts in automating their lending processes, covering the entire loan life cycle – from loan origination through loan application process, risk assessment, decision-making, monitoring, and management control of approved loans. An automated loan processing solution allows these lending organizations to close more qualified loans faster with improved operational efficiency. It virtually eliminates the tedious sorting of both paper and electronic files and dramatically minimizes the costly manual data entry. The key benefits of an efficient loan processing system include: Reduction in processing time by Optimal work distribution Immediate identification of bottlenecks and deviations Parallel processing of loan application documents Greater customer satisfaction through quicker response and new product offerings Efficient document management and tracking of status across the bank Improved performance monitoring using audit trails and ability to drill down to granular details Minimized manual entry of critical loan information Enhanced accuracy of data entered into the loan system Better compliance with regulatory requirements Reduced turnaround and processing times Easy handling of fluctuations in loan volume Thus, automation enables lending organizations to process more qualified loans each day – and at a lower cost per loan – providing these organizations the much needed advantage to stay competitive, in a dynamic business environment . 2. 1. 4 Loan Terminology 22 (http://www. loanontime. com/kb. pdf) Appraisal- A report written by a qualified expert – Appraiser, that states an opinion on the value of a property based on its characteristics and the selling prices of similar or comparable properties in the area. Appraiser A person qualified by education, training, and experience to estimate the value of real property and personal property. Borrower (mortgagor, trustor) One who applies for a loan secured by real estate and is responsible for repaying the loan (mortgage). Collateral An asset (such as a car or a home) that guarantees the repayment of a loan. The borrower risks losing the asset if the loan is not repaid according to the terms of the loan contract. Collection The efforts used to bring a delinquent mortgage current and to file the necessary notices to proceed with foreclosure when necessary. Credit An agreement in which a borrower receives something of value in exchange for a promise to repay the lender at a later date. Credit history A record of an individuals open and fully repaid debts. A credit history helps a lender to determine whether a potential borrower has a history of repaying debts in a timely manner. Credit report A report issued documenting the credit history and current status of a borrowers credit standing, by an independent agency that contains certain information concerning a mortgage applicant’s credit history and current credit standing. Used by a lender in