Dieppe Raid essays

Dieppe Raid essays Many people believe that the Dieppe Raid was a success. This was in fact true. There were many things learned that tragic day, that will be with us for a long time to come. The Dieppe Raid gave allies the experience and knowledge to be successful in other raids, and confrontations. After the raid, allies became aware that there were elements ever so crucial to their further success. Learning the physical properties of the battleground soon became a must, along with learning to better arm and defend, and that the element of communication must be exercised to a high degree. The Dieppe raid carried with it a high cost, but the lessons learned were invaluable and led directly to the success of the Normandy landings. The Dieppe Raid was to be considered a learning experience for the Canadians. It was to be a test for future invasions. 4936 Canadians ¹, who were restlessly awaiting an opportunity such as this, were sent to a beach on the French coast. Accompanying them, were 1000 Canadians, and 50 Americans. On August 19, 1942, these brave men fought, many knowing that they would never return. Tragedy struck that day, roughly 907 men died, 1154 were wounded, and 1894 became prisoners of war ². This horrible loss may never have occurred, had the allies demonstrated better organization. At Dieppe, men walked onto that beach having no idea what to expect. The commanding officers in charge of setting up the attack had neglected to consult a topographical viewpoint of the beach ³. This would have clearly shown that landing on beaches surrounded by 100-200 foot cliffs would leave troops vulnerable, and unable to escape the awaiting Germans. This showed the allies that it was crucial to be fully knowledgeable on all physical terrain that was to be travelled in the future. Many men were gunned down before they were even given a chance to retaliate. Before they could even make it to shore, they were being slaughtered. Allies had ...

Florine Stettheimer, Avant-Garde Artist of the Jazz Age

Florine Stettheimer, Avant-Garde Artist of the Jazz Age Florine Stettheimer (August 19, 1871–May 11, 1944) was an American painter and poet whose brushy, colorful canvases depicted the social milieux of New York in the Jazz Age. During her lifetime, Stettheimer chose to keep her distance from the mainstream art world and only shared her work selectively. As a result, her legacy as a truly original American Folk-Modernist, while still modest, is now slowly building, decades after her death. Fast Facts: Florine Stettheimer Known For: Jazz Age artist with an avant-garde styleBorn: August 19, 1871 in Rochester, New YorkDied: May 11, 1944 in New York City, New YorkEducation: Art Students League of New YorkSelected Work: Cathedrals series, Family Portrait II, Asbury Park Early Life Florine Stettheimer was born in 1871 in Rochester, New York, the fourth of five children. Throughout her life, she had a close relationship with the two siblings closest to her in age- her older sister Carrie and her younger sister Ettie- as none of the sisters ever married. Both of Stettheimer’s parents were descendants of successful banking families. When her father Joseph left the family when the girls were children, they lived off their mothers, Rosetta Walter Stettheimer, sizable inheritance. In later life, Stettheimer’s independent wealth may have accounted for some of her reluctance to show her work publicly, as she was not dependent on the art market to support herself. This, in turn, may have affected the content of her work, as she was not forced to abide by the whims of cultural tastes and could more or less paint as she pleased. Florine Stettheimer, Spring Sale at Bendels (1921), oil on canvas, Philadelphia Museum of Art. Public Domain Personality and Persona Stettheimer spent her early years of schooling in Germany, but returned to New York City often to take classes at the Art Students League. She moved back to New York in 1914 before the start of World War I and took a studio near Bryant Park in the Beaux-Arts building. She became close friends with many of the movers and shakers in the art world at the time, including the father of Dada (and creator of R. Mutt’s Fountain), Marcel Duchamp, who taught French to the Stettheimer sisters. The company the Stettheimer sisters kept was highly creative. Many of the men and women who frequented Alwyn Court (the Stettheimer home on 58th Street and 7th Avenue) were artists and members of the avant-garde. Frequent visitors included Romaine Brooks, Marsden Hartley, Georgia O’Keefe, and Carl Van Vechten. Stettheimer’s politics and attitudes were distinctly liberal. She attended an early feminist conference in France when she was in her twenties, did not cringe at risquà © depictions of sexuality on stage, and was an ardent supporter of Al Smith, who favored a woman’s right to vote. She was also an outspoken supporter of Franklin Delano Roosevelt’s New Deal, making it the centerpiece of her famous Cathedrals of Wall Street (1939), now at the Metropolitan Museum of Art. She collected George Washington memorabilia and called him the â€Å"only man I collect.† Despite the time she spent in Europe, Stettheimer’s love of her home country is clear in the scenes of jubilation she choose to represent under its flag. Work Stettheimer’s best known works are of social scenes or portraits interspersed with symbolic references to their subjects’ lives and milieux, often including some reference to her own identity as a painter. Florine Stettheimer, The Cathedrals of Broadway, 1929, Metropolitan Museum of Art. Public Domain / CC01.0   From a young age, the multi-sensory experience of attending the theater appealed to Stettheimer. Though her initial attempts at set design failed (she approached the dancer Vaslav Nijinsky with an idea of bringing the myth of Orpheus to the stage with her as set designer, only to be rejected), there is an undeniable theatricality to her canvases. Their visually-optimized but inaccurate perspective allows for the entire scene to be viewed from one point of view, and their elaborate framing devices give off the appearance of a proscenium or other elements of a theater or stage. Later in her life, Stettheimer did design the sets and costumes for Four Saints in Three Acts, an opera whose libretto was written by famed modernist Gertrude Stein. Art Career In 1916, Stettheimer was given a solo show at the well-known M. Knoedler Co. Gallery, but the show was not well received. It was the first and last solo show of her work in her lifetime. Stettheimer opted instead for throwing â€Å"birthday parties† for each new painting––essentially a party thrown in her home whose main event was the unveiling of a new work. The social occasion model of exhibiting was not a far cry from the salons for which the Stettheimer women were known during the interwar years. Stettheimer was known as a wit with a sharp tongue, uninhibited when it came to social critique. Her painting, as well as her poetry, are clear evidence of this assessment, such as the commentary on the art market which is the driving force of this poem: Art is Spelled with a Capital AAnd capital also backs itIgnorance also makes it swayThe chief thing is to make it payIn a quite dizzying wayHurrah–hurrah– Stettheimer was very deliberate about her image as an artist, often refusing to be photographed by the many significant photographers she counted among her friends (including Cecil Beaton) and instead opting to be represented by her painted self. Appearing in the straight cuts of clothing fashionable in the 1920s, the painted version of Florine wore red high heels and never seemed to age past forty, despite the fact that the artist died in her early 70s. While most often she would directly insert her image, palette in hand, into a scene, in Soirà ©e (c. 1917), she includes a nude self-portrait not widely exhibited (presumably because of its salacious content). Later Life and Death Florine Stettheimer died in 1944, two weeks before the Museum of Modern Art exhibited what she called her â€Å"masterpiece,† Family Portrait II (1939), a canvas which returned to her favorite subjects: her sisters, her mother, and her beloved New York City. Two years after her death, her great friend Marcel Duchamp helped organize a retrospective of her work at the same museum. Sources Bloemink, Barbara. Imagine The Fun Florine Stettheimer Would Have With Donald Trump: The Artist As Feminist, Democrat, And Chronicler Of Her Time.  Artnews, 2018, artnews.com/2017/07/06/imagine-the-fun-florine-stettheimer-would-have-with-donald-trump-the-artist-as-feminist-democrat-and-chronicler-of-her-time/. Brown, Stephen, and Georgiana Uhlyarik.  Florine Stettheimer: Painting Poetry. Yale University Press, 2017.Gotthardt, Alexxa. The Flamboyant Feminism Of Cult Artist Florine Stettheimer.  Artsy, 2018, https://www.artsy.net/article/artsy-editorial-flamboyant-feminism-cult-artist-florine-stettheimer. Smith, Roberta. A Case For The Greatness Of Florine Stettheimer.  nytimes.com, 2018, https://www.nytimes.com/2017/05/18/arts/design/a-case-for-the-greatness-of-florine-stettheimer.html.

Examining My Community's Source of Energy Essay

Examining My Community's Source of Energy - Essay Example This paper seeks to establish the sources of energy in Hillsborough County, Florida both at the basic home level and the community level. It will look into the type of energy in use and the approximate cost of energy from the household to the community. This will also include the impacts of the energy source to the community over the time it has been in use and seek to establish new alternative sources that can effectively replace the existing sources with consideration to the effects both to the household and the environment. Sources of energy for the community Hillsborough County in Florida is a community that has several choices on the sources of energy to use. This comes as a result of the availability of several companies that specialize in provision of the different types of energy. Currently, there are around sixteen energy production companies in the area. The common types of energy source in use are coal, electricity, solar energy and wood. However, is worth noting that thes e sources of energy are mostly generated locally which leads to the centralized pollution system to the environment by the well over sixteen companies in the area. ... The coal is also used for the same reason of heat and energy production by the companies though there are a small number of households that make home use of it. Impacts of available energy sources on home and community The discussion about use of coal, wood and the production of electricity are all embroiled in the fact that to some extent, they all pollute the environment. The United States of America is one of the countries with the highest use of coal. In the locality, the disaster caused by the use of coal cannot be undermined. One effect of coal use is the radiation exposure. Coal is known to contain traces of Uranium and Thorium which are radioactive materials that occur naturally occur naturally. The coal wastes from the plants are known to be highly disastrous than the direct emissions from a nuclear plant. The other long term effects of the gases released from the use of coal are those associated with the greenhouse gas release to the environment. These greenhouse gases are of great hazard especially to the ozone layer depletion. The third negated effect of coal use is that it causes so many annual deaths. In the United States at large, the deaths resulting from the coal particulate pollution and ground level ozone without effective pollution control measures is on the increase. The deaths are caused by probable development of lung cancer, heart attacks and the acute bronchitis to the victims. Coal also when used even in traces release methyl mercury to the environment. This is a mercury emission that is very fatal to the plant and animal life. The air emissions related to use of coal in this environment is of absolute interest. There are a

Toolkit for Public Management Case Study Example | Topics and Well Written Essays - 3000 words

Toolkit for Public Management - Case Study Example Organizations are thus faced with the challenge to of responding effectively, remain flexible and to transform themselves to the new working and modern environment (Iveta, 2013). Managers accomplish organizational goals through the process defining goals, organizing structures and motivating their accomplices from time to time. Public administration and the public management have been changing rapidly in the past decades in response new global environment (Dixon, 1998; Janine, 2007; Sitala, 2013). The managers and the public administrators have a crucial role of translating into strategies the policies set by governments and the ways to implement them. Large bureaucracies like government agencies find strategy execution accompanied with change that often raises barriers and difficulties leading to problems for managers. The manager According to Garry (2012), the manager is an important person in public management since the success or the failure of the organization evolves around him . Emotional intelligence is diligently tied to management usefulness and eventually to the organization behavior in his capacity. A manger performance is highly influenced by self-awareness, self-regulation, motivation, empathy, and social skills hence he should have a good grasp of emotional intelligence (Dixon, 1998). According to Martha (2005), successful organizations are led by managers who are visionary, with a clear understanding of the organization's mission statement in a proper manner. The manager thus has a responsibility to lead his team in developing the mission statement (O’Leary and Vij, 2012), and to ensure that everyone focuses on the organization's main purpose of the mission (Milita and Ramune). The manager is also entrusted with the responsibility of ensuring that the vision of the organization is fully implemented within the stipulated periods by breaking it down to specific achievable goals. The manager helps the workers to recognize how they should perf orm their duties and responsibilities in relation to the overall goal of the organization. Dynamic organizations are forever changing and the manager role is to help facilitate the through their role as change agents to ensure development and sustainability of the organization (Quinn, Faerman, Thompson, McGrath, 2008). This is possible when a manager fully understands and accepts the need to change and convey this rationale to the staff. Managers who are visionary constantly mentor their staff by recognizing talent and grooming the selected employees for additional responsibility from time to time (Siltala, 2013). Managers are also responsible for evaluating all the information when it is received, and to determine who should receive what information and how to communicate it to ensure stability within the organization (Petronela, 2012). Decision-making is the biggest responsibility of management (Gary, 2012; Wilson, 2013), and it should be done constantly as issues arise and it inv olves negotiation with the people concerned to ensure effective leadership (Hansen, Steen and Jong, 2013). A vital management role involves interpersonal relationships in order to win the trust of his subordinates to ensure smooth working in the organization. This is because employees are more productive when the

Josephine Beauharnais Essay Example for Free

Josephine Beauharnais Essay Behind every great man lies an even greater woman. The woman adds character to the man and also affects his actions and morals. The story of Napoleon Bonaparte would be incomplete without consideration of his first wife, Josephine. She contributed so much to his development and passion because of her influence. This greatly impacted his leadership, military victories, and and was an inspiration behind the Napoleonic Code. Therefore without Josephine’s influence, Napoleon would not have become who he was. To understand Napoleon one must first understand Josephine Bonaparte’s history. Marie was the first wife of Napoleon Bonaparte.She was a popular Empress and had many defining characteristics which helped to shape her life. Josephine had a great impact on Napoleon’s emotions which affected the decisions and actions that he made directly and indirectly. (PBS; Napoleon and Josephine, http://www.pbs.org/empires/napoleon/n_josephine/courtship/page_1.html) She made him feel secure, provided him with emotional support, and gave him confidence which ultimately had a bearing on his decisions and actions. (PBS; Napoleon and Josephine, http://www.pbs.org/empires/napoleon/n_josephine/emperor/page_1.html) Another one of the ways in which Josephine helped Napoleon was through his military accomplishments. Prior to meeting Josephine, Napoleon was nothing more than a short, slight, shabby young artillery man, lacking real military victories. (Mossiker, 79) Josephine allowed Napoleon to strive for more than just a mistress but love. (Mossiker, 81) His fondness for her still remained with him even during his battles. After their wedding, he successfully conquered Italy in 1796-97. (Mossiker, 202) He continued his success conquering Egypt and this battle was significant because France gained a lot of gold and rare gems as well as the Rosetta stone; which was the key to hieroglyphic translations. (Mossiker, 134-139) While Napoleon was fighting his campaigns, Josephine used her connections to Frances political leaders to further Napoleons political career, hosting several parties that resulted in Napoleon quickly being promoted. That resulted in Napoleon gaining national prestige. (Josephines Influence on Napoleon, http://sphseuro.blogspot.ca/2009/02josephines-influence-on-napoleon.html) However, Josephine was chronically unfaithful to Napoleon. Napoleon nearly ended his Italian Campaign early simply to return to France and confront his wife. (Josephines Influence on Napoleon, http://sphseuro.blogspot.ca/2009/02josephines-influence-on-napoleon.html) A letter written to Josephine from Napoleon on the subject of her infidelity was published in several English newspapers, which mocked France and its ruler. Her several affairs almost led to their divorce, but Napoleon felt that a seemingly stable marriage would further his political aspirations and the two remained married. Josephines Influence on Napoleon, http://sphseuro.blogspot.ca/2009/02josephines-influence-on-napoleon.html) Therefore, even without her being present on the battle field, or even in the same country, it was Josephines inspirational spirit, that encouraged Napoleon throughout all of his major victories against Italy and Egypt. Napoleon created a code in which reflected his morals towards the family unit and marriage. In 1803, Napoleon established his own code of laws in order to repeal previous laws that weakened marriage. (The Law Behind the Man, https://www.mtholyoke.edu/courses/rschwart/hist255/jkr/napoleon.html) The 1792 divorce law was repealed and drastically changed. Before it was possible for either a husband or wife to petition for a divorce on numerous grounds, but Napoleon changed the laws so divorce could only be petitioned for under mutual consent and incompatibility. (The Law Behind the Man, https://www.mtholyoke.edu/courses/rschwart/hist255/jkr/napoleon.html) There were criteria that had to be met before a husband or wife could petition for a divorce on either of those grounds; if it was because of incompatibility the petitioner had to show proof of cruelty, adultery, or objected to certain humiliating forms of punishment administered by her spouse (Phillips 1988, p. 185). This is significant because it helps strengthen the family by giving both husband and wife the power to separa te. The Napoleonic Code also emphasized the family as a functioning unit. The needs and desires of the individual had been put ahead of others in the eighteenth century. (The Law Behind the Man, https://www.mtholyoke.edu/courses/rschwart/hist255/jkr/napoleon.html) Napoleon heightened parental authority by requiring their permission in divorce cases and a husbands power by reducing the rights of his wife. A wife.owed obedience to her husband, a husband protection to his wife, and that the wife was obliged by law to live with her husband and to follow him wherever he judged it convenient to live. (Phillips 1988, p. 186) This law strengthened the family unit, giving each marriage partner specific duties and rules. Again, because of Josephine’s influence he created this law to protect his family by providing more structure in the family unit. Even though it may seem that Josephine did not have a more profound impact on the world as Napoleon did, her relationship with Napoleon helped to motivate him to develop his military, personal, social achievements. Without Josephine, Napoleon would not have accomplished what he did and the world we know today would be drastically different. Works Cited Biography.com. A+E Television Networks, n.d. Web. 28 Sept. 2012. . Courtiers and Favourites of Royalty. N.p.: n.p., n.d. Open Library. Web. 28 Sept. 2012. . only read the short 4 paged biography Empress Josephine. London: Oxford UP, 1963. Print. Encyclopedia Brittanica. N.p., n.d. Web. 28 Sept. 2012. . European History. N.p., n.d. Web. 28 Sept. 2012. . Heritage History. Heritage-History, n.d. Web. 28 Sept. 2012. . History Reference Centre. N.p.: n.p., n.d. Ebscohost. Web. 28 Sept. 2012. . Napoleon and Josephine. N.p.: Simon, n.d. Print. Bonaparte. London: Allen Unwin, n.d. Print. Empress Josephine. Cambridge: Knapton, 1964. Print. Frances Mossikers Napoleon Josephine. N.p.: Frances Mossiker, 1965. Print. Napoleon. New York: Aubry, 1964. Print. Napoleon Bonaparte. New York: Thompson, 1952. Print.

Bhagavad Gita is the Ultimate Science of Yoga :: Yoga India Indian Spirituality Sprit Spiritual

The Meaning of Yoga It is common to associate the word Yoga with a system of physical postures and meditation. But Yoga in its original form has a deep spiritual significance which is lost in today’s body-centered world. The Sanskrit word Yoga comes from the verb root Yuj, which means to link or to connect. When we talk about linking or connection, an obvious question arises: to connect what with what? The very word â€Å"connection† implies that there must be two different entities separated from one another, and they need to be connected. The ancient Vedic text Bhagavad Gita explains that these entities are the individual consciousness and the universal Supreme consciousness. Some may call this universal consciousness an all-pervading energy, whereas most theists consider this Supreme consciousness to be God. The Vedic philosophy combines these two apparently contradictory concepts very beautifully. It explains that there is definitely an all-pervading universal energy. But the very existence of energy implies that there also exists a possessor and controller of the energy – the energetic – who is an intelligent being. Our individual consciousness or energy is a manifestation of the spirit soul inside our body, and this soul is a part of the Supreme Soul or the Supreme Energetic or God. The purpose of Yoga is to connect the individual energy with the universal energy, or put another way, to connect the individual being to its source – the Supreme Being. Yoga or divine union with the Supreme does not mean that we merge into the Supreme and become one with Him. Bhagavad Gita explains that we do become one, but in quality and not in quantity. This oneness is spiritual, not physical. For example, the perfect realization of sugar is not becoming sugar, rather tasting its sweetness. Similarly, the perfect divine union means that we do not lose our individuality, but we become united with the Supreme * An ancient language in which most of the Eastern philosophy texts have been written. †  Vedas are the most ancient recorded scriptures of knowledge of the Self. in a deep, eternal, sweet, personal, loving relationship, and taste the nectar of its mellows. What is Bhagavad Gita? Bhagavad Gita literally means Song of the Absolute. It is a conversation between Arjuna and Krishna, which took place around 3000 B.C. in a battlefield. Krishna represents the Supreme Being and Arjuna represents an ordinary living being like us. Through Arjuna’s questions and Krishna’s answers, the complete science of Yoga is revealed. It is considered a science because it describes the concept of Yoga in a systematic step-by-step way. It tells us exactly how to follow the Yoga processes and also what will be the results of different practices. In modern days, Yoga is often misunderstood just Bhagavad Gita is the Ultimate Science of Yoga :: Yoga India Indian Spirituality Sprit Spiritual The Meaning of Yoga It is common to associate the word Yoga with a system of physical postures and meditation. But Yoga in its original form has a deep spiritual significance which is lost in today’s body-centered world. The Sanskrit word Yoga comes from the verb root Yuj, which means to link or to connect. When we talk about linking or connection, an obvious question arises: to connect what with what? The very word â€Å"connection† implies that there must be two different entities separated from one another, and they need to be connected. The ancient Vedic text Bhagavad Gita explains that these entities are the individual consciousness and the universal Supreme consciousness. Some may call this universal consciousness an all-pervading energy, whereas most theists consider this Supreme consciousness to be God. The Vedic philosophy combines these two apparently contradictory concepts very beautifully. It explains that there is definitely an all-pervading universal energy. But the very existence of energy implies that there also exists a possessor and controller of the energy – the energetic – who is an intelligent being. Our individual consciousness or energy is a manifestation of the spirit soul inside our body, and this soul is a part of the Supreme Soul or the Supreme Energetic or God. The purpose of Yoga is to connect the individual energy with the universal energy, or put another way, to connect the individual being to its source – the Supreme Being. Yoga or divine union with the Supreme does not mean that we merge into the Supreme and become one with Him. Bhagavad Gita explains that we do become one, but in quality and not in quantity. This oneness is spiritual, not physical. For example, the perfect realization of sugar is not becoming sugar, rather tasting its sweetness. Similarly, the perfect divine union means that we do not lose our individuality, but we become united with the Supreme * An ancient language in which most of the Eastern philosophy texts have been written. †  Vedas are the most ancient recorded scriptures of knowledge of the Self. in a deep, eternal, sweet, personal, loving relationship, and taste the nectar of its mellows. What is Bhagavad Gita? Bhagavad Gita literally means Song of the Absolute. It is a conversation between Arjuna and Krishna, which took place around 3000 B.C. in a battlefield. Krishna represents the Supreme Being and Arjuna represents an ordinary living being like us. Through Arjuna’s questions and Krishna’s answers, the complete science of Yoga is revealed. It is considered a science because it describes the concept of Yoga in a systematic step-by-step way. It tells us exactly how to follow the Yoga processes and also what will be the results of different practices. In modern days, Yoga is often misunderstood just Bhagavad Gita is the Ultimate Science of Yoga :: Yoga India Indian Spirituality Sprit Spiritual The Meaning of Yoga It is common to associate the word Yoga with a system of physical postures and meditation. But Yoga in its original form has a deep spiritual significance which is lost in today’s body-centered world. The Sanskrit word Yoga comes from the verb root Yuj, which means to link or to connect. When we talk about linking or connection, an obvious question arises: to connect what with what? The very word â€Å"connection† implies that there must be two different entities separated from one another, and they need to be connected. The ancient Vedic text Bhagavad Gita explains that these entities are the individual consciousness and the universal Supreme consciousness. Some may call this universal consciousness an all-pervading energy, whereas most theists consider this Supreme consciousness to be God. The Vedic philosophy combines these two apparently contradictory concepts very beautifully. It explains that there is definitely an all-pervading universal energy. But the very existence of energy implies that there also exists a possessor and controller of the energy – the energetic – who is an intelligent being. Our individual consciousness or energy is a manifestation of the spirit soul inside our body, and this soul is a part of the Supreme Soul or the Supreme Energetic or God. The purpose of Yoga is to connect the individual energy with the universal energy, or put another way, to connect the individual being to its source – the Supreme Being. Yoga or divine union with the Supreme does not mean that we merge into the Supreme and become one with Him. Bhagavad Gita explains that we do become one, but in quality and not in quantity. This oneness is spiritual, not physical. For example, the perfect realization of sugar is not becoming sugar, rather tasting its sweetness. Similarly, the perfect divine union means that we do not lose our individuality, but we become united with the Supreme * An ancient language in which most of the Eastern philosophy texts have been written. †  Vedas are the most ancient recorded scriptures of knowledge of the Self. in a deep, eternal, sweet, personal, loving relationship, and taste the nectar of its mellows. What is Bhagavad Gita? Bhagavad Gita literally means Song of the Absolute. It is a conversation between Arjuna and Krishna, which took place around 3000 B.C. in a battlefield. Krishna represents the Supreme Being and Arjuna represents an ordinary living being like us. Through Arjuna’s questions and Krishna’s answers, the complete science of Yoga is revealed. It is considered a science because it describes the concept of Yoga in a systematic step-by-step way. It tells us exactly how to follow the Yoga processes and also what will be the results of different practices. In modern days, Yoga is often misunderstood just

Osmosis and celery lab experiment Essay

Diffusion is simply the net movement of atoms or molecules from a region of higher concentration to a region of lower concentration. The force behind the movement is heat or kinetic energy (also called Brownian motion). Diffusion occurs when you spill water on the carpet floor and it spreads out, or when you open a bottle of perfume and it leaves the bottle and spreads throughout the air in the room. Osmosis is a similar phenomenon that moves water from a region of high water concentration to a region of low water concentration. Imagine that a cell from your body is placed in a solution of water. If the concentration of the water inside the cell is the same as the concentration of water in the solution, then we describe the water solution as being â€Å"isotonic† or having the same concentration as the water inside the cell. In this case, net movement of water will be zero and the cell will not swell or shrink. In other words, the same amount of water will move in the cells as will move out. On the other hand, if the cell is placed in a solution of water that has a higher concentration (of water) compared to the concentration of water inside the cell, then osmosis will cause more water to move into the cell than will move out and this will cause the cell to swell. In this case, we say that the solution of water is â€Å"hypotonic†. Now imagine that the cell is placed in a solution of water that has a lower concentration (of water) compared to the concentration of water inside the cell. In this case osmosis will cause more water to move out of the cell than will move in the cell and the cell will shrink. In this case, we say that the solution is â€Å"hypertonic†. Learn more about osmosis and diffusion from Chapter 3 of your textbook. CELERY EXPERIMENT We can place celery in three different water solutions to observe the effects of osmosis on the celery stalks. Salt will serve as our solute to mix with water to make the water either hypotonic, hypertonic or isotonic. The hypotonic solution will contain less salt so that the amount of water compared to salt will be greater than the amount of water inside the cells (compared to the salt and other solutes inside the cell.) The hypertonic solution will contain more salt so that the amount of water compared to the  salt will be less than the amount of water inside the cells (compared to the salt and other solutes inside the cell.) The isotonic solution will contain an amount of salt that will be similar to the amount of salt and other solutes inside the cells of the celery. Materials: knife measuring cup and spoon two stalks of celery (they should be fresh and firm, not bend like rubber) table salt three containers with lids (or something to cover the containers) to hold the solutions and the celery stalks filtered or soft water, distilled water works best, tap water will work if it the mineral content is not too high (tap water with high mineral content is called â€Å"hard† water) Procedures: 1. cut four pieces of celery that are each two inches long (be sure they are all the same length) 2. make four vertical slices or cuts into the celery but make the cuts only three fourths of the length or 1.5 inches; space the vertical cuts as evenly apart as possible 3. label the three containers A, B and C 4. add one cup of water to each container 5. add NO salt to container â€Å"A† 6. add  ½ teaspoon of salt to container â€Å"B† and stir well 7. add 2 teaspoons of salt to container â€Å"C† and stir well 8. place one of your 2 inch cut pieces of celery into each of the three containers and keep the fourth piece as a control for comparison 9. cover the three containers with the lid or cover that you are using, you could use a cling plastic wrap as well 10. wrap the fourth control celery piece tightly in plastic wrap 11. leave the celery pieces in the three containers and the fourth wrapped (control) piece for 6 hours or overnight at room temperature 12. remove the pieces from the containers and bend them while observing how firm or flexible they are 13. record your observations of each of the four pieces of celery below Observations: Solution Flexibility compared to the control stalk (less flexible, similar, more flexible) More water moved into or out of the cells? Indicate which solution was isotonic, hypotonic, and hypertonic A When the celery stalk was placed in solution A. The water moved through and in the cells of the celery which is an example of osmosis. Water moves through the cells. The stalk was firm and less flexible. More water moved into the celery’s cells. The celery stalk was nice and firm after the allotted time. More water and less to no solute, is an example of hypotonic solution. Which means there is â€Å"less† osmotic pressure. B In solution B the celery became a little more flimsy. Solution has a little salt. Slightly less water moved into the celery’s cells. The reason the water didn’t move as freely through the cells is due to the small amount of solute. This is an example of hypertonic, or greater osmotic pressure. This solution has a higher concentration of solute than the hypotonic solution. C In solution C the salt/ solute is very present. The celery became very flimsy after 4 hours. Even less water moving into cells. The celery became â€Å"very† flexible and very flimsy. The water was not moving through the cells even at a higher rate. This solution is a full example of osmosis. In osmosis the solute is of greater concentration of the solute. The diffusion of pure solvent across a membrane in response to a concentration gradient,

Market Survey on Commodities Future Trading

An Industry Internship Project On COMMODITIES FURTURE TRADING WITH RESPECT TO GEOJIT COMTRADE LTD – MARKET SURVEY Done at CALICUT, KERALA Under the guidance of MRS. C. ANITHA RANI (Asst. Professor of Marketing Dept. ) (Project Guide) Mr. CHACKO . C. VARGHEESE (Regional manager) (Corporate Guide) Submitted By: LAKSHMI. P. K Roll No: 20028 SIVA SIVANI INSTITUTE OF MANAGEMENT KOMPALLY, SECUNDERABAD ACKNOWLEDGEMENTFirst of all I would like to thank Geojit COMtrade Ltd, which is a leading organization in commodity trading, for giving me an opportunity to work with them and to do Market Research to gain practical knowledge of how a Commodities Company works. My special obligations to my corporate guide Mr. Chacko C Varghese, Regional manager, GC Branch, Calicut, for granting permission to do the project in their esteemed organization. I thank him for dedicating his valuable time in reviewing my project work periodically and for directing me all the way.I am deeply indebted to thank my faculty guideAsst. Prof. C. Anita Rani. I also like to thank all my faculties who have taught me and haveshared their experience with mewhich has helped us in doing my project. I am thankful to Mr. Ajeesh Paul and Mr. Bijesh K. B, senior executives of Geojit COMtrade ltd, Calicut who was always ready to clarify my doubts related to the topic. And my sincere thanks to them. Also, I am thankful to my family, friends, and classmates and to the Almighty.Date: Signature Place: DECLARATION I, Lakshmi. P. K declare that this project entitled â€Å"Market research on commodity future trading with respect to Geojit COMtrade Ltd. †, submitted for the award of the PGDM Triple Specialization is a record of original project – research study- carried out during April 5th- June 5th) , that the project has not formed before the basis for the award of any Degree/ Diploma/ Associateship/ Fellowship of any other similar title.Ithas been completed by me at Geojit COMtrade Ltd, Calicut under the guidance ofAsst. Prof. Anita Rani,faculty of marketing department of Siva Sivani Institute of Management. Date: Signature Place: C O N T E N T S DECLARATION ACKNOWLEDGEMENT CERTIFICATE TABLE OF CONTENTS PAGE NO Chapter – IIntroduction 5 Statement of problem 5 Objectives of the study 6 Scope of study 6 Literature Review 6 Chapter – II Industry Profile 8 Company Profile 19 Departmental Details 26Chapter-III Research Methodology 44 Sources of data 45 Sampling Plan 45 Limitations 45 Chapter IV Data Analysis: Interpretation and Findings 46 Chapter-VSWOT Analysis 71 Conclusion 73 Suggestions 74 Bibliography 75 Annexure 76 CHAPTER -I INTRODUCTION Commodity trading is an area which has gained prominence ever since the dawn of civilization.It can be attributed to the fact that commodities are an integral part of our lives. Over these years there has been a tremendous growth in this segment which in turn has acted as the pillar of strength for the developmen t of our economy. This has made it an attractive investment avenue for investors. Earlier we witnessed lot of money being invested in those companies which specialized in the production of commodities. Now we have a trend reversal; commodities have gained prominence over the times.The rapidly advancing technology, particularly the Internet, has drastically changed the social and economic landscapes and every aspect of our daily lives. In the Securities Industry & Futures Commodities, the Internet has facilitated on-line trading, changing the way the market works, as well as the way the investors access the market. Having taken advantage of information technology at an opportune time, India has emerged as a front-running country of on-line trading in the global securities & commodities markets. On-line trading† is broadly defined as a trading mechanism where investors place orders and confirm trading results via electronic communication channels, such as the Internet, mobile ph ones, In India, the whole process of securities & commodities transactions, from order placement and routing, order execution, to trade confirmation, is fully automated, thus enabling the investors who have placed orders to confirm their trading results within few seconds. Geojit COMtrade Ltd. is a commodity trading service firm. It specializes in agricultural commodities, base metals, precious metals, bullion, and energy.The firm engages in trading services on commodities traded on the MCX and NCDEX in India. Its Research Division offers technical and fundamental research services. The firm also provides research on markets, currency, and economy. Geojit COMtrade Ltd. is based in Kochi, India. STATEMENT OF THE PROBLEM Online future commodities trading involve personal factors, technical factors, business factors and economic factors. The interplay of these factors on commodities market requires a deep study about the pattern process and procedures and performance.This study is inte nded to identify the various concepts about online commodities trading and its way of functioning. 1. To identify the level of awareness of commodities online future trading. 2. To identify the target consumer for online trading of commodities. 3. To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. 4. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. OBJECTIVES OF THE STUDYMy project work programmed was also directed to some particular targets and the main objectives of the study are as bellow; 1. To clearly state the awareness level about Geojit commodities 2. To understand the perception of people about Geojit commodities 3. To devise an approach by making people aware of Geojit commodities The Main purpose of conducting the Survey for Geojit COMtrade Ltd * To identify the target consumer for commodities b usiness. * To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. * To get a feel of the Customers’ perception about Geojit commodities services products. * To find an appropriate communication message for attracting the people to Geojit COMtrade Ltd SCOPE OF THE STUDY Globalization of the financial market has led to a manifold increase in investment. New markets have been opened; new instruments have been developed; and new services have been launched. Besides, a number of opportunities and challenges have also been thrown open.Online Commodities trading is new as compared to Equity market in India. Mainly three exchanges are involved in online commodities trading MCX, NCDEX & NMCE LITERATURE REVIEW So many studies are made in the area of commodity futur e trading. Some of the important studies are reviewed as follows; In a well-known literature survey on commodity futures research, Gray and Rutledge observed that, ‘Anyone who undertakes a survey of the literature on futures trading is confronted with an amorphous and rather disjointed list of publications (1971 p 57).Some of the pioneers in futures research, like Hol brook Working, Roger Gray, Tom Hieronymus, Allen Paul, and Henry Bakenwere based on an in-depth understanding of economic institutions, an appreciation of the major problems facing the industry, and careful analysis of relevant data. Gray and Rutledge (1971) provide the most comprehensive survey on futures markets and the topics covered in their review include evolutionary aspects of futures markets, inter-temporal price relationships, and concept of hedging, price variability, and the stochastic nature of price fluctuations. The Keynesian theory of normal backwardation was one of the earliest theories of the int er-temporal futures prices and it postulated that futures prices are biased estimates of forthcoming cash prices because hedgers must compensate speculators for assuming the price risk of holding future contracts * Working (1949) developed the idea that the primary function of commodity futures markets was the provision of the returns for the storage services, and he viewed inter-temporal prices as the jointly determined price of storage. Holbroook Working (1953) categorized alternative motives for commercial hedging in the commodity futures and these categories continue to be valid today. The three arbitrage hedging, operational hedging and anticipatory hedging. Since the futures and cash price converge in the delivery month, a commercial firm can ‘arbitrage’ the two markets and earn a risk-free return from the predictable change in the basis- the mathematical difference between the futures and cash price.Operational hedging facilitates commercial business by allowing firms to buy and sell on the futures markets as temporary substitutes for the subsequent cash market transactions. This provides firms with an avenue for being flexible in day-to-day operations and reducing price risk. Anticipatory hedges involve buying or selling futures contracts by commercial firms in ‘anticipation’ of the forthcoming cash market transactions. Price expectation plays a major role in this type of hedge. * Leuthold and Tomek (1980) explained that semi-perishables (e. . , butter, eggs, onions, potatoes) were traded at the turn of the century but the introduction of trading in nonstorables such as live hogs and live cattle in the 1960s was a watershed for the industry. They argued that since future prices for nonstorables are not being used to allocate inventories, forward pricing is an important economic justification for these markets They pointed out that some of the farmers remain concerned about the alleged adverse influence of futures trading. Acco rding to theoretical literature, primary commodity producers stand to derive considerable price risk reduction benefit from hedging with either future contracts or forward contracts (Johnson 1960; Stein 1961; McKinson in 1967; Danthine 1978; Holthausen 1979; Feder, Just and Schmitz 1980; Andearson and Danthine 1983) * According to empirical literature either minimum variance hedge ratios or optimal hedge ratios (i. e. % of output to be hedged) and has found large potential risk reduction benefits from hedging (Henifner 1972; Peck 1975; Ederington 1979; Grant and Eaker 198559; Casteino 1992; Lene, Kimle, and Hayenga 1993) * But both theoretical and empirical literature appears to contradict reality because very few primary producers actually hedge (Helmuth 1977; Berk 1981; Brorsen 1995) * Survey results of Blank, Carter and McDonald 1997 found thatfarmers prefer forward contracting to direct hedging with future contracts.According to Miller (1986) the one key distinguishing feature b etween these two factors is the absence of basic risk in forward contracting. * Carter and Loyns (1985) found that due to a high basis risk, there was a little incentive for Canadian feedlots to hedge cattle on the Chicago futures market. * Rolfo in 1980 suggested production risk as an explanation for the lack of hedging interest in the real world. Most research needs to be directed towards the impact of government farm programs on commodity futures markets, along the lines of Crain and Lee (1996) * The theory of price of storage explains inverted markets by appealing to the concept of convenience yield. According to this theory, the futures price can be less than the spot price plus the cost of carry when the commodity generates convenience yield. CHAPTER -II INDUSTRY PROFILE 1) COMMODITY MARKET A commodity is a material that is traded in big quantities and whose quality standards and price are objective and universally applicable.For example, gold is a commodity because quality st andards and price of gold are objective and universal, but gold jewelry is not a commodity because the price of jewelry depends on subjective factors such as design, brand image, etc. Other examples of commodities are: agricultural produce such as food grains, pulses, cotton, etc. ; metals such as nickel, zinc, aluminum, etc. Commodity markets  are markets where raw or primary products are exchanged. These raw commodities are traded on regulated  commodities exchanges, in which they are bought and sold in standardized contracts.It covers physical product (food, metals, and electricity) markets but not the ways that services, including those of governments, nor investment, nor debt, can be seen as a commodity. Commodity Market is an organized trader’s exchange in which standardized, graded products are bought and sold. Worldwide, there are 50 major commodity exchanges that trade over 100 commodities, ranging from wheat and cotton to silver and oil. The trading of commoditi es consists of direct physical trading and derivatives trading. Exchange traded commodities have seen an upturn in the volume of trading since the start of the decade.This was largely a result of the growing attraction of commodities as an asset class and a proliferation of investment options which has made it easier to access this market. Commodity trading Spot trading Spot trading is any transaction where delivery either takes place immediately, or with a minimum lag between the trade and delivery due to technical constraints. Spot trading normally involves visual inspection of the commodity or a sample of the commodity, and is carried out in markets such as  wholesale markets.Commodity markets, on the other hand, require the existence of agreed standards so that trades can be made without visual inspection. Forward contracts A  forward contract  is an agreement between two parties to exchange at some fixed future date a given quantity of a commodity for a price defined toda y. The fixed price today is known as the  forward price. Futures contracts A  futures contract  has the same general features as a forward contract but is transacted through a futures exchange. Futures contracts — which set a price for the delivery of a particular commodity in, say, six months or a year — are not themselves to blame.They're the grease that makes these markets function. Futures allow businesses like power companies or airlines to hedge against increases in fuel costs, or food processors to smooth over fluctuations in the price of wheat and corn. Wall Street plays an invaluable role, too, since financial investors — those betting that prices will fall, as well as those betting they'll rise — provide crucial liquidity. Commodity and futures contracts are based on what’s termed forward contracts. Early on these forward contracts — agreements to buy now, pay and deliver later — were used as a way of getting products from producer to the consumer.These typically were only for food and agricultural products. Forward contracts have evolved and have been standardized into what we know today as futures contracts.. In essence, a futures contract is a standardized forward contract in which the buyer and the seller accept the terms in regards to product, grade, quantity and location and are only free to negotiate the price. Hedging Hedging, a common practice of farming cooperatives insures against a poor harvest by purchasing  futures contracts  in the same commodity.If the cooperative has significantly less of its product to sell due to weather or insects, it makes up for that loss with a profit on the markets, since the overall supply of the crop is short everywhere that suffered the same conditions. Delivery and condition guarantees In addition, delivery day, method of settlement and  delivery point  must all be specified. Typically, trading must end two (or more) business days prior to the delivery day, so that the routing of the shipment can be finalized via ship or rail, and payment can be settled when the contract arrives at any delivery point.Most trading is done in futures contracts, that is, agreements to deliver goods at a set time in the future for a price established at the time of the agreement. Futures trading allow both hedging to protect against serious losses in a declining market and speculation for gain in a rising market. For example, a seller may sign a contract agreeing to deliver grain in two months at a set price. If the grain market declines at the end of two months, the seller will still get the higher price quoted in the future contract.If the market rises, however, speculators buying grain stand to profit by paying the lower contract price for the grain and reselling it at the higher market price. Spot contracts, a less widely used form of trading, call for immediate delivery of a specified commodity and are often used to obtain the goods nece ssary to fulfill a futures contract. An independent U. S. regulatory agency, the Commodity Futures Trading Commission was established in 1974 to regulate commodity markets. In 1982, the Chicago Mercantile Exchange introduced a futures contract for Standard ; Poor’s 500 U.S. companies that allow investors to speculate on the future prices of the stocks. Trading of S;P 500 and other financial futures has broken down some of the barriers that once separated stock, bond, and commodity markets and made it easier for investors to hedge their stock investments. Critics charge that the futures trading at the commodity markets in Chicago have made stock prices more volatile. The Chicago Board of Trade is the largest futures and options exchange in the Unites States, the largest in the world is Eurex, an electronic European Exchange.GLOBAL COMMODITY MARKET It is the trading of materials used to make finished products, Is far more important that what the most people give it credit for. It’s what to gives millions consumers worldwide their cups of creamy lattes, their breakfast cereals, the steel for their home construction, and even the fuel to run their cars. In fact international commodity trading is a multi-billion dollar business, and on average the number of trade executed in the commodity exchanges are about five times as much as those on major stock exchanges.And to be honest in the recent past it has been anything but dull. In the past five years commodities have provided all the thrills and spills of a high octane Vin Diesel movie. The idea of trading in commodity future contracts is really very old –school, although it has occurred new age glitz because of electronic exchanges. Most experts trace their origins back to Japan, were rice futures were first traded in the 17th century. Future market for precious metals such as gold and silver has also been around since in the 19th century with maize contracts with the Chicago Board Of Trade (CBO T).Basically commodity futures allow buyers and sellers to make bets on the expected future spot prices. They help both sides obtain insurance for the future value of their outputs or inputs. Cereals were first to be traded under the future contracts and the farmers were the first to use such contracts as they protect them from any steep fall in the value of crop harvested in future. Commodity future differed from equity derivatives in three important ways; 1. They are derivative securities not claims on long living corporations. 2. They are short maturity claims on real assets 3. nlike financial assets, they experience distinct seasonal variations in price and volatility Today there are more than 50 commodity exchanges in the world wide trading in more than 100 products. The major products come under five categories; 1. Precious metals (gold, silver, platinum, etc. ) 2. Industrial metals (copper, nickel, aluminum, zinc, etc. ) 3. Agricultural commodities (wheat, corn, cotton, oilse eds, coffee, cocoa, sugar etc. ) 4. Livestock (pork bellies, cattle, etc. ) 5. Energy(crude oil, natural gas, petrol, diesel etc. ) Oil makes up the world’s largest commodity future market. Daily turnover on the New York Mercantile Exchange(NY mex) alone totals about $15 billion) followed by coffee, steel, gold and wheat. New contract ideas however keep popping up all the time. For instance, freight futures are also traded on the Norwegian futures and Options Clearing house and the Nymex. While the Chicago Mercantile exchnge9 now taken over by the CBOT) offers contracts on temperatures, useful for hedging agricultural commodity or energy prices. COMMODITY FUTURE TRADING EVOLUTION OF FUTURE TRADING AND ITS PRESENT STATUS Organized future market evolved in India by the setting up of â€Å"Bombay Cotton Trade Association Ltd. in 1875. In 1893, following widespread discontent amongst leading cotton mill owners and merchants over the functioning of the Bombay Cotton Trade Associa tion, a separate association by the name â€Å"Bombay COTTON Exchange Ltd. † was constituted. Futures trading in oilseeds were organized in India for the first time with the setting up of Gujarati VyapariMandali in 1900, which carried on futures trading in groundnut, castor seed and cotton. Before the Second World War broke out in 1939 several futures markets in oilseeds were functioning in Gujarat and Punjab.Future trading in Raw Jute and Jute Goods began in Kolkata with the establishment of the Calcutta Hessian Exchange Ltd. , in 1919. Later East Indian Jute Association Ltd. was set up in 1927 for organizing futures trading in Raw Jute. These two association amalgamated in195 to form the present East India Jute ; Hessian Ltd. , to conduct organized trading in both Raw Jute and Jute goods. In case of wheat, future markets were in existence at several centers at Punjab and U. P. The most notable amongst them was Chamber of Commerce at Hapur, which was established in1913.Other markets were located at Amritsar, Moga, Ludhiana, Jalandhar, Fazilka, Dhuri, Barnala and Bhatinda in Punjab and Muzaffarnagar, Chansausi, Meerut, Saharanpur, Hathras, Ghazibad, Sikenderabad and Barielly in U. P. Futures market in Bullion began at Mumbai in 1920 and later similar markets came up at Rajkot, Jaipur, Jamnagar, Kanpur, Delhi and Calcutta. In due course several other exchanges were also created in the country to trade in such diverse commodities as pepper, turmeric, potato, sugar and Gur (jaggory). After independence, the Constitution of India brought the subject of â€Å"Stock Exchanges and Futures† in the Union list.As a result, the responsibility for regulation of commodity futures markets developed on Govt. of India. A bill on forward contracts was reffered t an expert committee headed by Prof. A. D. Shroff select committees of two successive Parliaments and finally in December 1952 Forward Contracts (Regulation) Act, 1952, was enacted. The Act provided for 3- tier regulatory system; (a) An association recognized by the Government of India on the recommendation of Forward markets Commission (b) The Forward Markets Commission (it was set up in September 1953) (c) The Central Government.Forward Contracts (Regulation) Rules were notified by the Central Government in July, 1954. The Act divides the commodities into 3 categories with reference to extent of regulation, viz: (a) The commodities in which futures trading can be organized under the auspices of recognized association. (b) The Commodities in which the future trading is prohibited. (c) Those commodities in which have neither being traded under the recognized association nor prohibited are referred as free Commodities and the association organized in such free commodities is required to obtain the certificate of Registration from the forward Markets Commission.In the seventies, most of the registered associations became inactive, as futures as well as forward trading in the commodities for which they were registered came to be either suspended or prohibited altogether. The Khursho Committee(June 1980) had recommended reintroduction of futures trading in most of the major commodities, including cotton, Kapas, raw jute and jute goods and suggested that steps may be taken for introducing futures trading in commodities, like potatoes, onions, etc. at appropriate time.The government, accordingly initiated futures trading in Potato during the latter half of 1980 in quite a few markets in Punjab and Uttar Pradesh. After the introduction of economic reforms since June 1991 and the consequent gradual trade and industry liberalization in both the domestic and external sectors, the Govt. of India appointed in June 1993 one more committee on Forward Markets under Chairmanship of Prof. K. N. Kabra. The Committee submitted its report in September 1994. THE MAJORITY REPORT OF THE Committee ecommended that futures trading be introduced in 1) Basmati Rice 2) Cotton ; Kapas 3) Raw Jute ; Jute Goods 4) Groundnut, rapeseed/mustard seed, cottonseed, sesame seed, sunflower seed, safflower seed, copra and soya bean, ; oils and oilcakes of all of them. 5) Rice brain oil 6) Castor oil ; its oilcake 7) Linseed 8) Silver ; 9) Onions. The committee also recommended that some of the existing commodity exchanges particularly the ones in pepper and castor seed, may be upgraded to the level of international future markets.The liberalized policy being followed by the Government of India and the gradual withdrawal of the procurement and distribution channel necessitated setting in place a market mechanism to perform the economic functions of price discovery and risk management. The National Agriculture Policy announced in July 2000 and announcements of Hon’ble Finance Minister in the Budget Speech for 2002-2003 were indicative of Governments resolve to put in place a mechanism of futures trade/market. As a follow up the Government issued notifications on 1. 4. 003 pe rmitting futures trading in the commodities, with the issue of these notifications futures trading is not prohibited in any commodity. Options trading in commodity are, however presently prohibited. ECONOMIC BENEFIT OF FUTURE TRADING ; ITS PROSPECTUS Futures contracts perform two important functions of price discovery and price risk management with reference to the given commodity. It is useful to all segments of economy. It is useful to producer because he can get an idea of the price likely to prevail at a future point of time and therefore can decide between various competing commodities, the best that suits him.It enables the consumer get an idea of the price at which commodity would be available at a future point of time. He can do proper costing and cover his purchases by making forward contracts. The futures trading is very useful to the exporters as it provides an advance information of the price likely to prevail and thereby help the exporter in quoting a realistic price an d thereby secure export contract in a competitive market. Having entered into an export contract, it enables him to hedge his risk by operating in futures market.Other benefits of futures are: (i) Price stabilization-in times of violent price fluctuations – this mechanism dampens the peaks and lifts up the valleys i. e. the amplitude of price variation is reduced. (ii) Leads to integrated price structure throughout the country. (iii) Facilitates lengthy and complex, production and manufacturing activities. (iv) Helps balance in supply and demand position throughout the year. (v) Encourages competitions and acts as a price barometer to farmers and other trade functionaries.Futures trading are also capable of being misused by unscrupulous speculators. In order to safeguard against uncontrolled speculation certain regulatory measures are introduced from time to time. They are: (a) Limit an open position of an individual operator to prevent over trading. (b) Limit on price fluctu ation (daily/weekly) to prevent abrupt upswing or downswing in prices (c) Special margin deposits to be collected on outstanding purchases or sales to curb excessive speculative activity through financial restraints. d) Minimum/maximum prices to be prescribed to prevent future prices from falling below the levels that are un remunerative and from rising above the levels not warranted by genuine supply and demand factors. During shortages, extreme like skipping trading in certain delivers of contract, closing the markets for a specified period and even closing out the contract to overcome emergency situations are taken. PROSPECTS With the gradual withdrawal of the government from various sectors in the ost liberalization era, the need has been felt that various operators in the commodities market be provided with a mechanism to hedge and transfer their risks. India’s obligation under WTO to open agriculture sector to world trade would require futures trade in a wide variety of primary commodities and their products to enable diverse market functionaries to cope with the price volatility prevailing in the worlds market. CHARECTERISTICS OF FUTURE TRADING A â€Å"Futures Contract† is a highly standardized contract with certain distinct features.Some of the important features are as under: (a) Futures trading are necessarily organized under the auspices of a market association s that such trading is confirmed to or conducted through members of the association in accordance with the procedure laid down in the Rules ; byelaws of the association. (b) It is invariably entered into for a standard variety known as â€Å"basis variety† with the permission to deliver other identified varieties known as â€Å"tender able varieties†. (c) The units of price quotation and trading are fixed in these contracts, parties to the contracts not being capable of altering these units. d) The delivery periods are specified. (e) The seller in a futures market has the choice to decide whether to deliver goods against outstanding sale contracts. In case he decides to deliver goods, he can do so not only at the location of the Association through which trading is organized but also at a number of other pre-specified delivery centers. (f) In futures market actual delivery of goods takes place only in a very few cases. Transactions are mostly squared up before the due date of the contract and contract and contracts are settled by payment of differences without any physical delivery of goods taking place.RECENT TRENDS IN COMMODITY TRADING Nature’s Commodity Outputs Commodity thinking is undergoing a more direct revival thanks to the theorists of â€Å"natural capital whose products, some economists argue, are the only genuine commodities- air, water and calories we consume being mostly interchangeable when they are free of pollution or disease. Whether we wish t think of these things as tradable commodities rather than birthrights has been a major source of controversy in many nations.Most types of environmental economics consider the shift to measuring them inevitable arguing that reframing political economy to consider the flow of these basic commodities first and foremost, helps avoids use of any military fiat except to protect â€Å"natural capital† itself, and basing credit-worthiness more strictly on commitment to preserving biodiversity aligns the long-term interests of eco regions societies, and individuals. They seek relatively conservative sustainable development schemes that would be amiable to measuring well-being over long periods of tie, typically â€Å"seven generations†, in line with Native American thought.Weather trading However, this is not the only way in which commodity thinking interacts with ecologists’ thinking. Hedging began as a way to escape the consequences of damage done by natural conditions. It has matured not only into a system of interlocking guarantees, but a lso into a system of indirectly trading on the actual damage done by weather, using weather derivatives for a rice, this relieves the purchaser of concerns such as whether a freeze will hurt the Brazilian coffee crop, whether there will be a drought in the U. S. orn belt and what the chances that we will have a cold winter are, driving natural gas prices higher and creating havoc in Florida orange areas. Emissions Trading Weather trading is just one example of â€Å"negative commodities†, units of which represent harm rather than good. â€Å"Economy is three fifths of ecology argues Mike Nickerson one of many economic theorists who hold that nature’s productive services and waste disposal services are poorly accounted for. One way to fairly allocate the waste disposal capacity of nature is â€Å"cap and trade†- market structure that is used to trade toxic emissions rights in the United States, e. . SO2. This is in effect a â€Å"negative commodity†, a ri ght to throw something away. In this market, the atmosphere’s capacity to absorb certain amounts of pollutants is measured, divided into units, and traded amongst various market players. Those who emit more SO2 must pay those who emit less. Critics of such schemes argue that unauthorized or unregulated emissions still happen, and that â€Å"grandfathering† schemes often permit major polluters, such as the state governments’ own agencies, or poorer countries, to expand emissions and take jobs, while the SO2 output still floats over the border and causes death.In practice, political pressure has overcome most such concerns and it is questionable whether this is a capacity that depends on U. S. clout: The Kyoto Protocol established a similar market in global greenhouse gas emissions without U. S. support. Community as a commodity This highlights one of the major issues with global markets of either the positive or negative kind. A community must somehow believe tha t the commodity instrument is real, enforceable, and well worth paying for. Avery substantial part of the anti-globalization movement opposes the Commodification of currency, national sovereignty, and traditional cultures.The capacity to repay debt, as in the current global credit money regime anchored by the Bank for international settlements, does not in their view correspond to measureable benefits to human wellbeing worldwide. They seek a fairer way for societies to compete in the global markets that will not require conversion of natural capital to natural resources nor human capital to move to developed nations in order to find work. Some economic systems green economists would replace â€Å"gold standard† with a â€Å"biodiversity standard†. It remains to be seen if such plans have any merit other than as olitical ways to draw attention to the way capitalism itself interacts with life. Human life as a commodity The green economists and the more conservative envi ronmental economics argue that not only natural ecologies, but also the life of the individual human being is treated as a commodity by the global markets. A good example is the IPCC calculations cited by the Global Commons Institute as placing a value on a human life in the developed world â€Å"15x higher† than in the developing world, based solely on the ability to pay to prevent climate changes. Overview of commodities exchange in IndiaForward Markets Commission (FMC) headquartered at Mumbai, is a regulatory authority which is overseen by the Ministry of Consumer Affairs, Food and Public Distribution, Govt. of India. It is a statutory body set up in 1953 under the Forward Contracts (Regulation) Act, 1952. â€Å"The Act provides that the Commission shall consist of not less than two but not exceeding four members appointed by the Central Government out of them being nominated by the Central Government to be thereof. Currently Commission comprises three members among whom Shri. B. C. Khatua, IAS, IS THE Chairman and Shri.D. S. Kolamkar IES, and Shri Rajeev Kumar Agarwal, IRS, are the members of the commission. † The functions of Forward Markets Commission are as follows: (a) To advise the Central Government in respect of the recognition or the withdrawal of recognition from any association or in respect of any other matter arising out of the administration of the Forward Contracts(Regulation) Act 1952. (b) To keep forward markets under observation and to take such action in relation to them, as it may consider necessary, in exercise of the powers assigned to it by or under the Act. c) To collect and whenever the Commission thinks it necessary, to publish information regarding the trading conditions in respect of goods to which any of the provisions of the act is made applicable, including information regarding supply, demand and prices, and to submit to the Central Government, periodical reports on the working of forward markets relating to suc h goods. (d) To make recommendations generally with a view to improving the organization and working of forward markets. (e) To understand the inspection of the accounts and other documents of any recognized association or any member of such association whenever it considers.List of Commodity Exchanges in India 1. Batinda Om ; Oil Exchange Ltd. , Batinda. 2. The Bombay Commodity Exchange Ltd. , Mumbai 3. The Rajkot Seeds oil ; Bullion Merchants` Association Ltd 4. The Kanpur Commodity Exchange Ltd. , Kanpur 5. The Meerut Agro Commodities Exchange Co. Ltd. , Meerut 6. The Spices and Oilseeds Exchange Ltd. 7. Ahmedabad Commodity Exchange Ltd. 8. Vijay Beopar Chamber Ltd. , Muzaffarnagar 9. India Pepper ; Spice Trade Association, Kochi 10. Rajdhani Oils and Oilseeds Exchange Ltd. , Delhi 11. National Board of Trade, Indore 12. The Chamber Of Commerce, Hapur 13. The East India Cotton Association, Mumbai 4. The Central India Commercial Exchange Ltd. , Gwalior 15. The East India Jute ; He ssian Exchange Ltd. 16. First Commodity Exchange of India Ltd, Kochi 17. Bikaner Commodity Exchange Ltd. , Bikaner 18. The Coffee Futures Exchange India Ltd, Bangalore 19. Esugarindia Limited 20. National Multi Commodity Exchange of India Limited 21. Surendranagar Cotton oil ; Oilseeds Association Ltd 22. Multi Commodity Exchange of India Ltd 23. National Commodity ; Derivatives Exchange Ltd 24. Haryana Commodities Ltd. , Hissar 25. e-Commodities Ltd Of these 25 commodities exchanges the MCX, NCDEX and NMCEIL are the major Commodity Exchanges.Multi  commodity exchange  of India Ltd – MCX is an independent and de-mutualised exchange based in Mumbai. Established on 10 November, 2003, it is the third largest bullion exchange and fourth largest energy exchange in the world. Recognized by the Government of India it deals in numerous commodities and carries out online trading, clearing and settlement processes for commodities future market  countrywide. MCX COMDEX is India's foremost and sole composite commodity futures price index National Commodity & Derivatives Exchange of India Ltd (NCDEX) located in Mumbai, is a public limited company incorporated on 23rd April 2003.Promoted by national level establishments it is run by professional management. Regulated by the Forward Market Commission with reference to futures trading in commodities, it trades in various commodities online. The NCDEX is covered by: * Companies Act * Stamp Act * Contracts  Act * Forward Commission (Regulation) Act National Multi-Commodity Exchange of India Limited (NMCEIL) is considered the first de-mutualized, online exchange dealing in numerous commodities. Incorporated on 20th December 2001, it is promoted and run by: * Central Warehousing Corporation National Agricultural Cooperative Marketing Federation of India Limited * Gujarat Agro Industries Corporation Limited * National Institute of Agricultural Marketing * Gujarat State Agricultural Marketing Board * Neptune Overseas Limited The Commodity Exchanges with their extensive reach embrace new participants, resulting in a powerful price discovery process. COMPANY PROFILE Evolution of the company It all started in the year 1987 when Mr. C. J. George and Mr. Ranajit Kanjilal founded Geojit as a partnership firm. In 1993, Mr. Ranajit Kanjilal from the firm and Geojit became the proprietary concern of Mr.C. J. George. In 1994, it became a Public Limited Company named Geojit Securities Ltd. The Kerala State Industrial Development Corporation Ltd. (KSIDC) in 1995, became a co-promoter of Geojit by acquiring a 24 percent stake in the company, the only instance in India of a government entity participating in the equity of a stock broking company. The year 1995 also saw Geojit being listed on the leading regional stock exchanges. Geojit listed at the stock exchange, Mumbai (BSE) in the year 2000. Company’s wholly owned subsidiary, Geojit Commodities Ltd. launched Online Future Trading in Agri -commodit ies, precious metals and energy futures on multiple commodity exchanges in 2003. This was also the year when the company was renamed Geojit Financial Service Ltd. (GFSL). The Board consists of professional directors; including a Kerala Government nominee. With effect from July 2005, the Company is also listed at National Stock Exchange (NSE). Company is a character member of the Financial Planning Standards Board of India and is one of the largest Depository Participant (DP) brokers in the country.On 31st December 2007, the company closed its commodities business and surrendered its membership in the various commodity exchanges held by Geojit Commodities Ltd. Global banking major BNP Paribas took a stake in the year 2007 to become the single largest shareholder. Consequently, Geojit Financial Services Ltd. has been renamed as Geojit BNP Paribas Financial Services Ltd. VISION The vision of Geojit is to be leading financial and commodities market intermediary for individuals and insti tutional clients from India band overseas.They continually strive to raise their products and service standards by intelligent application of technology and processes. MANAGEMENT OF GEOJIT COMTRADE Geojit COMtrade offers trading services in Commodities Futures. It is managed by a group of professionals having considerable years of experience and expertise in Commodities, ever since the reintroduction of Commodities Futures in India in 2003. Geojit COMtrade offers its client state-of-art trading tools such as:    * | * Technical and fundamental analysis at this website and also through the company's large branch network | * | * Research Reports | | * SMS alerts on market movement | * | * Content rich website | * | * Online trading | * | * Facility to view online ledger, holdings, positions, etc. | Geojit COMtrade also conducts seminars, distributes free in-house literature and holds interactive sessions that help raise awareness on the future market. The number of participants is c ontinuously on the rise thus leading to increased volumes and market efficiency. Geojit COMtrade is a member of the following Exchanges: * National Multi Commodity Exchange of India Limited (NMCE) | | * National Commodity ; Derivatives Exchange Limited (NCDEX) | | * Multi Commodity Exchange of India Limited (MCX) | | * National Spot Exchange of India Ltd (NSE) | Geojit COMtrade offers futures trading through multiple exchanges in varied commodities such as: Agricultural Commodities: | * Plantation Crops like Rubber, Coffee, Arecanut, etc. | | * Spices like Pepper, Cardamom, Turmeric, Jeera, Chilly, etc. | | * Pulses like Chana | | * Oil ; Oil Seeds like Refined Soya oil, Soya bean, Cotton seed, Mustard Seed, Mustard oil, etc. | * Cereals like Maize | | * Other commodities like Guar gum, Guar seed, Menthaoil, Potato, Sugar, etc. | | * Commodity Spot products like E Gold, E Silver, E Copper, E Lead, and E Zinc. | Precious metals: | * Gold, Silver, and Platinum | Metals: | * Copper, Le ad, Aluminum, Steel, Tin, Nickel, Zinc, etc. | Energy products: | * Crude oil, Natural Gas, Carbon Credits, etc. MILESTONES | | | Product innovation backed by a high level of domain specific knowledge and state-of-the-art technology has helped Geojit to set many milestones including numerous industries. 986 * Membership in Cochin Stock Exchange (CSE). 1994   * Becomes a Public Limited Company named Geojit Securities Ltd. 1995   * Kerala State Industrial Development Corporation Ltd. (KSIDC) acquires 24 percent equity stake. * Membership in National Stock Exchange (NSE). * Public Issue  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1996 * Launch of Portfolio Management Services with SEBI registration. 1997   * Depository Participant (DP) under National Securities Depository Limited. 1999   * Membership in Bombay Stock Exchange (BSE). 2000 * BSE Listing. * 1st broking firm in India to offer online trading facility. * Commences Derivative Trading with NSE. Integrates the 1st Bank Payment Gateway in the country for Internet Trading. 2001 * Becomes India's first DP to launch depository transactions through Internet. * Establishes Joint Venture in the UAE to serve NRI customers. 2002 * 1st in India to launch an integrated internet trading system for Cash & Derivatives segments. 2003 * Geojit Commodities Limited, wholly owned subsidiary, launched Online Futures Trading in agri-commodities, precious metals and in energy futures on multiple commodity exchanges. * National launch of online futures trading in Rubber, Pepper, Gold, Wheat and Rice. Company renamed as Geojit Financial Services Ltd. 2004 * National launch of online futures trading in Cardamom. 2005 * NSE Listing. * Geojit Credits, a subsidiary, registers with RBI as a Non-Banking Financial Company (NBFC). * National launch of online futures trading in Coffee. 2006 * Charter member of the Financial Planning Standards Board of India. 2007 * BNP Paribas takes a stake in the company’s equity, making it the single larg est shareholder. * Establishes Joint Venture in Saudi Arabia to serve the Saudi national and the NRI. 2008 * BNP Paribas Securities India (P) Ltd. – a Joint Venture with BNP Paribas S. A. or Institutional Brokerage. * 1st brokerage to offer full Direct Market Access execution in India for institutional clients. 2009 * Launch of Property Services division. * Launch of online trading in Currency Derivatives. * Consequent to BNP Paribas becoming the largest stakeholder in Geojit BNP Paribas, company is renamed as Geojit BNP Paribas Financial Services Ltd. 2010 * Launch of  FLIP (Financial Investment Platform), a new advanced online investment platform. * Launch of state of the art Mobile Trading platform to empower clients to trade from anywhere, even while on the move through the innovative application FLIP- ME. | | | | | Board of DirectorsMr. A. P. Kurian  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent ChairmanMr. C. J. George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Managing Director & Chief PromoterMr. Alkeshkumar Sharma  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. Olivier Le Grand  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Pierre Rousseau  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Mahesh Vyas   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. RakeshJhunjhunwala   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr.Ramanathan Bupathy   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. Pun noose George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorA growing footprintWith a presence in almost all the major states of India, the network of 558 offices across 300 cities and towns presently covers Andhra Pradesh, Bihar, Chattisgarh, Goa, Gujarat, Haryana, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, New Delhi, Orissa, Punjab, Rajasthan, Tamil Nadu & Pondicherry, Uttar Pradesh, Uttaranchal and West Bengal.GEOJITCOMMODITIES * Number 1 Broking house status in terms of Trading Terminals : Dun & Bradstreet Survey 2008 * The first brokerage to offer online trading in Rubber (Mar 2003), Pepper (Apr2003), Gold (Oct2003), Wheat and Rice (Dec2003), Cardamom (Apr 2004) and Coffee (Feb2006) * Brand image of Industry Pioneer since inception of commodity futures in 2003| Its clientele range from investors, co-operative societies, state and national institutions to dealers, traders, manufacturers, financiers, speculators, arbitragers, etc.Geojit COMtrade does not have proprietary interest in any commodity and therefore is price neutral. Transaction costs are highly affordable attracting a spectrum of investors. Membership in multiple exchanges gives clients the added advantage of arbitrage. Geojit has specialized staff that provide the required guidance, help and enable clients to enter at the appropriate price. Geojit COMtrade: Increasing investor awareness/education * Daily, weekly and special reports on various commodities & currencies covering both international as well as domestic markets. Seminars and workshops designed to help both the new clients as well as experienced traders. * Increased media spending to make ourselves more visible in print, visual as well as digital media, so that our reports and views reach better to our investo rs. * Offers SMS / email reports at no additional cost. GEOJIT ANTHEM DRIVEN BY TRUST â€Å"With trust, our driving force Transparent in daily chores, Passionate, compassionate, We keep Geojit on course Respectful of our call We care for our patrons’ all. Grateful for our growth before We seek blessings to grow tall. Shanti ho barabaar shanti ho Sayyam, Samridhi, Swaasthya ho,Geojit Jahaan ho! Expanding far and wide, And serving the world with pride, Loyalty inspiring us To be beyond the high tide; A brighter word to make Unfurling the flag we take; â€Å"All for one and one for all,† With love to last above all. DEPARTMENTAL STUDY Administration * Provides support and service for the activities of the board of directors * Coordination of branch activities and provision of interaction between branches and the main office * Expanding the reorganization of Bank market network. * To create appropriate condition for efficient operation of structural franchisees Human reso urceHuman Resources and Administration department is one, which facilitates smooth working of the organization by looking into the human resource side and also the overall administration of organization. The Human Resource Management is very important for the success of any organization. Different individual exhibit similar and dissimilar pattern of behavior. They have their own set of needs, drives, goals and experiences. Management should be aware of their requirements. Manpower management is the most critical job. Proper human resources management will enhance the efficiency and performance of people at work.HR MISSION * To create HR policies and processes which are employee friendly * To build a culture of warm forthcoming and professional with a sense of ownership and pride. * To encourage innovative thinking. * To encourage transparency and team work. * To develop leaders at all levels with general management skills. * To create a learning organization. * To develop competenci es and skills through training and development. * To constantly raise levels of employee productivity. * To work towards attaining and sustaining the best employer status Other functions ofHuman Resource Department RecruitmentRecruitment means generating a pool of qualified employees for job. Announcing job opportunities to public in such a way that number of suitable people will apply for them. Recruitment process is done only at the initial stage. Mainly qualified people are selected for work. Selection Selection means choosing right profile from that number, those applicants whom are most likely to succeed in the job. After getting the list of candidates an interview is conducted at the unit level. Final selection is made after testing their skill and technical abilities by putting them on the job. Training and developmentTraining and development is also done in Geojit. After recruitment and selection the new hands are given on the job training at the unit level. All workers are kept as trainers for three months to one year. Later they are absorbed as permanent workers considering their performance. Promotion Promotion is the transfer of an employee to a new position which comments high pay, privilege status both at work and the community outside and fringe benefits perhaps the greater job security. And more senior position from which a person render better service to his company. His duties, responsibilities, status and pay also increase.Company gives keen attention with regard to promotion. Wage structure Wage structure is different for different position Allowances Second most important component of wage package is dearness allowance, which is paid to offset the rise in prices. Allowances like conveyance, house rent etc. Employees provident fund Company follows contributory provident fund. The workers contribute some percentage of their wage (basic pay + DA) and the management contributes at an equal rate. Labor welfare fund There is a labor welfare fund in which the employee contributes some rupee per head and the employer contributes at double to the same.The fund enables the subscriber to get children treatment of self and dependents etc†¦ Thus all employees are covered social security schemes of government, enabling education of children of workers etc. Gratuity Employees are eligible for the gratuity based on payment of Gratuity Act, 1972 Welfare to workers Rest room A rest mean is covered provided to employees to relax at concerned time. Facilities of relaxing The company also provides siting facilities for workers when they are getting interval or lunch. Health One of the important thing is that the employees general health both physical and mental should be cared.The factors which influence the general health of the worker can be divided into two broad groups. 1) Those which are associated with his working environment 2) Those which he shares with the rest of the community Cleanliness The company is kept clean and free from effluvia. Accumulation of dust removed by proper drainage facility made in the chemical treatment. Walls, doors and windows shall be repainted or varnished at least once in three years Disposal of waste and effluence Effective arrangement shall be made for the disposal of waste. It does not harm any local people in any way. Ventilation and temperatureEffective arrangements shall be made for ventilation and temperature so as to provide comfort to the workers and prevent injury to their health. Adequate ventilation is made for fresh air. Air condition is provided for every room. Dust and fires Effective management shall be taken preview the inhalation and accumulation of dust and fires or other impurities in parities at workplace. Lighting The state government may prescribe standards of proper artificial nature lighting facilities are included. Drinking water There shall be effective arrangements for some drinking water for worker at convenient points.FINANCE AND ACCOUNTS Financ e is the lifeblood of any organization. It deals with both the acquisition as well as ‘allocation of funds. Hence finance department assumes a great role in this organization. A finance department in an organization is responsible for maintaining fair and just accounting, working capital management, long term funding decision making, costing etc. The finance department provides authorization and control to all other subsystems to utilize money more effectively through a well-designed mechanism the major functions of a finance department can be grouped as follows:- )Preparation of financial statement 2) Providing sufficient funds to all departments. 3) Cash flows within the firm 4) Cash forecasting and budgeting 5) Analysis of transactions conducted by each branch office 6) Pay in and Pay out DUTIES AND RESPONSIBILITIES Chief financial officer is the head of the finance department the entire financial operationsare controlled and coordinated by C. F. O. The entire reports are s ubmitted before him and it is his duty to take appropriate steps. He is assisted by Chief Manager Finance. The general accounts of the company are managed by the Chief Manager.Preparation of reports and statements also conies under his duty, matters concerning pay in and pay out are also determined and analyzed by Chief Finance Manager. The Chief Manager is assisted by Manager Finance. Below him there are two assistant managers, four executives and three junior executives. It is the duty of these people to record and analyze the normal accounts and transactions of a day and to report it to Chief Manager Finance. HIERARCHY OF AUTHORITY CHIEF FINANCIAL OFFICER CHIEF MARKETING OFFICER (fig-1)Department structural hierarchy JUNIOR EXECUTIVE EXECUTIVE ASSISTANT MANAGERMANAGING OFFICER The departmentis concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better  equipped in their management and control functions. The accounting department jointly performs the financial function of Geojit Functions of accounting department include preparing, checking and accounting the following vouchers and  bills. ? Cash receipt and cash payment. ?Bank receipt and bank payment. ? Purchase journal. Journal voucher. ?Preparing debit/credit notes. Updating vouchers in computer system. ?Preparation of reconciliation statement such as bank, party accounts etc. ?Maintain and safe custody of vouchers, records, ledgers and registers. ?Review of the general  ledger and sub ledger and reconciliation. ?Ensure safety custody of cash and  unused cheque. ?Maintain the fixed asset register and ensure proper filling of the bills of purchase, installation certificate etc. for the tax purpose. ?Ensure compliance of the various commitments for the borrowings and adherence of the schedule for the repayment of the interest and the principal.OPERATIONS DEPART MENT The past few decades have given-emphasis to operations functions mainly because it is the important subsystem of an organization and is responsible for customer satisfaction. As this department deals directly with customer satisfaction the company requires careful policies and procedures to carry out the activities under the operations department so that the services provided by them must be of a specific quality. The operations department of Geojit is again subdivided into five according to the services they deal with. They are 1) Risk management ; clearing and settlement ) Compliance 3) Commodity 4) Branch operations 5) Depository A study of each of these subdivisions is made their hierarchy, function of each official and the findings are noted in the coming pages. RISK MANAGEMENT ; CLEARING AND SETTLEMENT This is one of the subdivisions of the operations department. As stated earlier the operations departments are subdivided according to the functions they perform. Hence it is this subdivision of operations department which deals with the function of management of funds that arise from trading.Though buying and selling of shares take place daily in stock exchanges, settlements of transactions is executed for a specified no: of days after clubbing daily transactions for the entire period. This is known as settlements cycle. For example the beginning of a new settlement is on Wednesday of every week in N. S. E and it ends on next Tuesday. So it is the duty of this subdivision of the operations department to keep the recordsregarding transactions of each customer analyze whether he had made all the transactions in a proper way or not.It is the duty-of this department to check whether a person has paid the amount completely, if he had bought any shares and also to check whether the person is paid completely if he had sold the shares through Geojit. The chief manager (Risk and settlement) stands up in the hierarchy of the department and hence he is the head of the department. He controls and coordinates all the functions of this subdivision. Risk management of funds (of company and its branches) is one of the major functions. The chief manager is assisted by the senior manager (clearing and settlement).The senior manager (clearing and settlement) deals with the process of buying andselling of shares and thereby maintaining proper funds. There is an Asst. Manager under himwho checks the B. S. E operations. The Asst. Manager is assisted by three ‘senior executives' further there are executives junior executives and office assistants to help the topmanagement. A diagrammatic representation of the hierarchy of this departmental subdivision is given on next page. MANAGEMENT ; CLEARNING ; SETTLEMENT CHIEF MANAGER (RISK) SENIOR MANAGER (CLEARING ; SETTLE

Serial Killers essays

Serial Killers essays Focus: Abuse, genetics, chemical imbalances, traumatic events and societal injustices led to serial killing What do Ed Given, Jeffrey Dahmer, John Wayce Gacy, Ted Bundy, Albert Desalvo and Jack the Ripper all have in common? They are just six among the hundreds of known serial killers. Every day people try and look at these people and figure out why they do what they do. Unanswered questions float around, and the families of victims may never find out why their loved one was killed. The truth of the matter is serial killers are insane. Many factors add up to show the motives behind serial killers. On a crime Web site (www.crimelibrary.org), author Shirley Lynn Scott blames abuse, genetics, chemical imbalances, exposure to traumatic events and perceived societal injustices for motives behind killing. All of these will be closely looked at to find out why serial killers kill. Child abuse can be the cause of therapy for the victim later in life. Usually, we don't think of abuse leading to serial killing. Albert DeSalvo, better known as the "Boston Strangler," was actually sold as a slave by his alcoholic dad. Many sadistic murderers portray their childhood as an endless chain of horrifying sexual abuse, torture and mayhem. According to the Web site, the mother is usually to blame for the behavior. Serial killers have described their mothers as "too domineering or too distant, too sexually active or too repressed." However, the mother is usually to blame over the father because he has at some point disappeared. When a father is in the picture, he is usually noted for his sadistic disciplinarian tactics, alcoholic rants and overt anger toward women. Due to the poor relationships with their parents, killers usually begin or end their reign of terror by killing their parents. The crime Website tells the story of Ed Kemper who, after beheading his mom, "shoved her vocal cords down the garbage disposal, raped her headless bod...