Wednesday, December 25, 2019

Drug Trafficking, Organized Crime, and Terrorism Interactions

Drug Trafficking, Organized Crime, and Terrorism Interactions In recent years, the link between organized crime, terrorism, and drug trafficking has become increasingly intertwined. The interactions between these three organizations have facilitated terrorism on a global scale as the activities perpetrated by these groups have demonstrated. These formerly independent endeavors have not only began to collaborate with each other, but discernable trends have emerged due to their collaboration. In testimony given to the Senate Armed Services Committee, Michael A. Sheehan, assistant secretary of defense for special operations and low-intensity conflict for the United States Department of Justice, Terrorism, drug trafficking and other forms of transnational organized crime are increasingly intertwined (Parrish). Sheehan further comments, Nowhere is the link between transnational organized crime, insurgency and terrorism more apparent than in Afghanistan, where the Taliban continues to receive a large percentage of its revenue through heroin trade (Parrish). United Nations Office on Drugs and Crime (UNODC) Senior Terrorism Prevention Officer Irka Kuleshnyk asserts, While it is difficult to establish how widely terrorist groups are involve in the illicit drug trade, or the breadth and nature of cooperation between these two criminal groups, the magnitude of the numbers involved make the relationship worrisome (Drug Trafficking and the Financing of Terrorism). At the sameShow MoreRelatedControlling Organized Crime1200 Words   |  5 PagesControlling Organize Crime Paper Louis Pierre CJA/384 May 6, 2013 University of phoenix Professor: Glen Winters Controlling Organize Crime Paper Organize crime is a conspiratorial activity involving the coordination of numerous people in the planning and execution of illegal acts or in the pursuit of a legitimate objective by unlawful means, for example, threatening a legitimate business to get stake in it. However, organize crime involves continuous commitment by primary members, althoughRead MoreI Would Like To Identify And Describe The Major Functions1667 Words   |  7 Pagesof Prisons (FBOP) or BOP is a United States federal law enforcement agency. A sector of the U.S. Department of Justice, the BOP is responsible for the administration of the federal prison system such as white collar crimes, bank robberies, fraudulent check writing basically any crime associated with breaking federal law. The system handles inmates who have violated, or have been accused of violating, federal law. Juveniles also break federal laws, this means any individual under the age of eighteenRead MoreFighting Drug Cartels On The Americas712 Words   |  3 Pages Committee: UNODC Country: Nigeria Topic: Fighting Drug Cartels in the Americas Delegate: Angel Rivera Fighting Drug Cartels in the Americas Background Drug cartels have arisen as a major crisis for the future in the Americas. Individuals indulge themselves on drugs for many reasons such as tradition, attempting to escape poverty, and generating revenue for rebellious activities. Drug trafficking has proven to be ludacris, with the increasing involvement of corrupt government officials in theirRead MoreOrganized Crime Essay - Ciminology2336 Words   |  10 PagesOrganized Crime Organized crime has been around for many years. Since the first definition was written organized crime has grown into multiple different meanings. According to the text, Introduction to Criminology, organized crime refers to â€Å"organizations that use violence, provide illegal services, and have immunity of operation.† (Hagan) Organized crime is also used throughout the world within gangs and secret organizations. There are multiple types and definitions of organizedRead MoreThe Impact Of Internet On Our Daily Lives1540 Words   |  7 Pagesserious threats. Since then essential services in most of the countries have operated via the ICT platform, attacks are prone to happen since there is a loophole of threat creation. Introduction What is cybercrime? Generally cybercrime refers to crime that is conducted via the internet portal or with the use of another computer network. Criminal activities that may be categorized as cybercrime may include, hacking, fraud, Credit card account theft among others. The American Department of JusticeRead MoreThe Civil Asset Forfeiture Laws Essay1599 Words   |  7 PagesIn pursuit of the war on drugs, changes had been made to the nature of law enforcement and prosecution. Law enforcement have now been more empower with these new policies seem to have diminish civilians rights, such policies gave law enforcement power to violate third and fourth amendment. â€Å"Using general warrants, British soldiers were allowed to enter private homes, confiscate what they found, and often keep the bounty for themselves. The policy was reminiscent of today’s civil asset forfeitureRead MoreCRJ 110 Final Exam3676 Words   |  15 Pagespsychological. 2. What is the definition of crime that the authors of your textbook have chosen to use? A) Crime is human conduct in violation of the criminal laws of a state, the federal government, or a local jurisdiction that has the power to make such laws. 3. What is the difference between crime and deviance? A) Crime violates a law and deviance violates social norms. 4. What is the legalistic approach to the study of crime? A) The legalistic approach to crime yields the moral high ground to powerfulRead MoreThe Concept Of Border Security2139 Words   |  9 PagesThe concept of border security in the U.S. shares a complex and ever changing relationship with global economics, international crime, and terrorism. In this context border security includes the protection of not only land borders, but also sea and air ports of entry. The relationship between federal, state and local authorities makes for a unique operation that must be ever changing and evolving to meet new and different threats. This massive undertaking falls directly under the Department ofRead MoreImmigration Restrictions Essay930 Words   |  4 Pagesregarding an employees legal working status. (R. Stell) This is to help bring jobs back to the Americans and crack down on illegal immigrants. The Immigration and Nationality Act (INA) of 1952 brought all the various immigration laws together in one organized act. In 2009, out of all immigrant households, legal and illegal, with children (under 18) 57 percent used at least one welfare program, compared native households with children that came in about 39 percent. Fifty-two percent of households withRead MoreCriminal Justice Enforcement And The United War On Drugs Essay2169 Words   |  9 Pagesincentive to join the war on drug. Police departments begin targeting areas known for drugs, increasing arrests for drug related offences. Buying law enforcement, enforcement was the key not treatment for drug users. This led to an increase in funding invested into corrections. Unlike Nixon, Reagans approach to the war on drug was,drug users are bad people, and instead of creating treatment program for prisoners, lengthy prison terms was the solution to deal with the drug epidemic that soar during

Tuesday, December 17, 2019

Public Relations Crisis Management Plan Assignment

Essays on Public Relations Crisis Management Plan Assignment The paper "Public Relations Crisis Management Plan" is a wonderful example of an assignment on marketing. The explosion that occurred at an oilrig in the Great Barrier Reef poses a situation that can lead to the total collapse of the company. Although Hypothetical has been absolved from all the blame, it still has a significant social responsibility to the community and the people living in this area, as well as the whole world. The company needs a form of public ‘friendship’ in order to operate efficiently in the coming years, and obtain goodwill from governments, people, consumers, workers and even environmental experts who are all closely following the developments at the Great Barrier Reef.Although the problem has been technically solved, there still lies a considerable risk for the company, basing on previous experiences. The spill that occurred at the Gulf of Mexico in an oil rig owned by the giant oil company British Petroleum led to a massive backlash from all th e stakeholders. The company has faced numerous lawsuits, loss of consumer trusts and expensive compensation claims (Farrell, 2011, p.102). Although the crisis at the Great Barrier Reef is of a different scale compared to BP’s, there is a need to ensure that it is managed effectively to mitigate negative impaction.SWOT StrengthsHypothetical has managed to seal the exploded well; hence, there is no risk of further damage to the environment. In addition, the assessment of its other rigs throughout the world shows that there is no further risk to such a situation occurring and all the safety standards are keenly followed.WeaknessesThe company has already lost some employees and in the disaster and the massive spill has already taken some months to stop. Extensive damage to the ecosystem has already occurred.OpportunitiesAlthough damage has already occurred, the Australian government has been supportive, and everyone applauds the company’s effort to stop the leak. The company can use this opportunity and the media attention that it is receiving to portray itself positively among the people, hence helping to improve its brand name (Reid, 2006, p.75).ThreatsThe company is the obvious target for blame for all the events that have transpired and almost everyone is expecting that the company will own up to the mistake. There is also a risk that people are viewing the situation from the mindset that was formed after the spill that occurred at the gulf of Mexico pitying a corporation against the government, environmental organizations and the public.Target publics Primary publicsThe main targets for crisis communication are the government leaders, trade unions and the environmental concern groups. This is because they are the influential groups that understand the magnitude of the problem and are in the places of influence to the public (Lawrence Dan, 2005, p. 211). Trade unions need to be ensured of the safety of workers, considering that six people died in the accident, while the government is the one expected by the public to act on their behalf.

Sunday, December 8, 2019

Journal Of Environmental Research Health â€Myassignmenthelp.Com

Question: Discuss About The Journal Of Environmental Research Health? Answer: Introduction Modern gardens are usually characterized by streamlined, sleek and cultured styles. In most cases, the main goal of modern landscape architecture is to create gardens that have organized and controlled appearances that also increases the value of property besides creating spectacular views. But looking at the history of gardens, they have more uses beyond beauty and remarkable views. Some gardens are used for medical, treatment and/or healing purposes, relaxation, meeting points and productivity increase(Anderson, 2011)(Franklin, 2012); (Gray Birrell, 2014) (Lau, et al., 2014). Therefore gardens have been very essential components of buildings from the early days(Detweiler, et al., 2012). Regardless of the intended use, modern gardens comprise of common architectural features/elements that give them outstanding views. These elements must work collectively in harmony so as to achieve the intended purpose. This essay analyzes two design landscapes: Donnell Garden, Sonoma, California, USA designed by Thomas Church, and Residence Own House Garden, Ridgewood, New Jersey, USA designed by James C. Rose. The aspects discussed are: cultural context, design psychology, formal qualities and stylistic attributes. Donnell Garden is one of the masterpieces that were designed by Thomas Church, a renowned landscape architect, with the help of George Rockrise and Lawrence Halprin. Thomas Church was a pioneer of American modern landscape architecture and managed to establish a style referred to as California Garden, after getting inspiration from the U.S.s West Coast (Jere, 1993)(Treib, 2003). They designed the garden for Dewey and Jean Donnell family in Sonoma, California, USA. Up to date, Donnell Garden is still a modernist icon in American landscaping industry. The garden was completed in 1948 and it is on the hillside overlooking San Francisco Bays northern extensions. Figure 1 below shows the aerial view of Donnell Garden. Cultural Context Donnell Garden is a landscape garden with great importance for American landscape history, in cultural context. The garden was created after World War II and the Great Depression, the period when American landscape significantly revitalized. Thomas used art to express various elements of modernism in the garden with less attention to the surrounding physical setting. He designed the line of the edge of the kidney-shaped pool to resonate the patterns of waterways meandering across the nearby valley that was being overlooked by the terrace. Additionally, the pavers colours, plantings and rocks groupings reflect the form and colour of the extensive landscape and its features where Donnell Garden is located(Beattie, 2015). The garden was in the cattle ranch of family, which they used for picnicking. Church included rare, abstracted forms that made Donnell Garden very famous. His aim was to give the garden a modern look that provided the family with a cool place to relax, play, swim, barb eque, garden and entertain. He wanted the garden to complement the booming economy and rapidly growing population of California. When designing the garden, Church responded to particular site and client characteristics and at the same time explored new architectural styles and forms. In general, Donnell Garden was designed with a modernism attitude and that is why it has spectacular views, such as the unique pool and chairs around it. Design Philosophy The main design philosophy that Church applied when designing Donnell Garden was abstract modernism. Church was among the pioneers of abstract modernism in North American landscape architecture and he used this philosophy to design a spectacular garden and express himself in it. His design philosophy was influenced by historical events and his personal ideas and experience. The unique design of Donnell Garden was based on four principles: unity (compatibility between the garden and the house), function (the relationship between the garden and the specific needs of the client), simplicity (in terms of layout of the site, aesthetic and economic) and scale (aimed at creating pleasant relation between various management of the garden)(Church, 1995). Churchs idea was to create a garden that may be looked at from different viewpoints. On this basis, he created a garden that did not have a beginning or an end. The garden was designed in consideration of the usage requirements and nature of site(Treib, 2005). The whole idea of the garden was based on California Garden that aims at creating a modern garden that makes outdoor life more thrilling. He also included the living habits of local people and the environment of California. For instance, the garden has several trees that are complementary to the surrounding landscape (as shown in Figure 2 below) and the amorphous pool that was very unusual. Another philosophy he used was dividing the garden into separate rooms. For example, the garden has separate places for entrance yard, lawn, swimming pool, free space probably for basking in the sun, large platform, dining area, etc. Therefore Church designed Donnell Garden with an aim of making it unique and integrating the principles of unity, function, simplicity and scale. He wanted to go beyond the traditional norms of flowers in the gardens by introducing new elements and perspectives. Formal Qualities Formal qualities of Donnell Garden are reflected in aspects such as topography, vegetation, source of water, climate of the area, material and geomorphology. Donnell Garden is located in Sonoma, California, USA. The coordinates of the garden are 38.1830 N, 122.4521 W and the basic geomorphology in the area is sandstone. Topography of location of Donnell Garden is Sonoma County Coast. The general climate of the area is Mediterranean. This climate is warm and temperate generally mild and fairly dry with little rain throughout the year. But the rain usually increases during winter. The average annual rainfall in the area is 747.5 mm. There is always plenty of sun throughout the year with very minimal chances of snow. Average minimum temperature is 11 C while the maximum temperature is 23.2 C. The hottest and coldest months are July and December respectively. According to Koppen-Geiger climate classification, the climate of Sonoma is Csc(Climate-Data.Org, (n.d.)). The sources of water f or Donnell Garden are local reservoirs and streams, and other water projects by federal and state governments. Indigenous vegetation is predominant in the area with few exotic species. The common indigenous vegetation are Cornus nuttalli and Myrica californica. Different areas of the garden are made of different materials. The lawn is made of green and well maintained natural grass that gives a natural look and feel, as shown in Figure 3 below. The pavement ground of part of the large platform is concealed with redwood or wood of the U.S. fir. The floating deck is designed using checkerboard of wooden boards aimed at preserving existing trees and also creating more living space outdoors. The remaining part of the floor, which is the largest, is made of concrete. The pattern of the floor is grid and it creates a large space for the family and their friends to carry out different activities in the garden including, barbecue, playing and entertainment. The connection of the gardens contour is by curved and jagged lines. The kidney-shaped pool and sculptures smooth curves are similar to the S-shaped line of the distant San Francisco bay. The canopys frame conveys the impression of the skyline and wilderness of the bay in the garden. This is bec ause Donnell Garden is located on a raised ground that gives it a spectacular view overlooking the countryside. There is also the vegetation and trees surrounding the garden Stylistic Attributes These are basically features that make each garden standout from the others. Donnell Garden represents California Garden style. The gardens central part has a kidney-shaped swimming pool. The pools location and unique design makes it the focal visual point and center of recreational activities since most people in California preferred outdoor pools. The layout of the swimming pool also provides two segments for different functions. One section of the swimming pool is longer and deeper, with a springboard, as shown on Figure 4 below. This is mainly designed for adults swimming. The other section of the swimming pool is shallower and more secure. This is mainly designed for children. The swimming pool also has one spectacular feature smooth curved Adaline Kent sculpture. The sculpture is located at the center of the swimming pool (as shown in Figure 5 below) and it serves different functions. The first function is to separate the two sections of the swimming pool the deeper and shall ower areas. The sculpture also has a hole at its base, sizeable enough to draw children through it. The sculpture also acts as a small island in the pool where people can rest. The sculptures soft curves also repeated echoed other elements of the landscape such as curves of rivers and mountains thus complementing the garden and surrounding site. The design of this swimming pool was so unique and spectacular that it became Californias epitome of outdoor lifestyle(Trufelman, 2017). Therefore the design of Donnell Garden accommodated the needs of the family and the characteristics of the surrounding landscape. Another stylish attribute of Donnell Garden is the amorphous transition between different areas of the garden. Even though the garden was divided into separate rooms, transition from one room to another was formless. This showed inclination of Church towards Spanish renaissance art. But this was not just limited to transition between rooms in the garden but it was also extended to transition between the garden and the house i.e. outdoor and indoor living(Tunnard, 2014). Residence Own House Garden, Ridgewood, New Jersey, USA by James C. Rose Residence Own House Garden is a landscape iconic located in Ridgewood, New Jersey, USA. The garden was designed by James Rose for his own residence. This was the building where James Rose lived with his family. The garden is very significant in American history of modern landscape architecture as it shows the origin of modernism in landscape architecture. James Rose was a famous inventor of modernism in landscape architecture and he demonstrated his design in this garden. James Rose started his activism for modernism in landscape architecture while still in school. When studying in Harvard, he teamed up with his classmates Dan Kiley and Garrett Eckbo to rebel against conventional landscape designs and theories. He declined to follow the official style of Beaux-Arts architecture for seeing the landscapes as modern buildings pastoral setting. This led to his expulsion from Harvard. The three colleagues then started social action for modernism in landscape architecture. As a result of this, they wrote several articles explaining their landscape design philosophy and ideas(Cardasis, 1995). Cultural Context Residence Own Home Garden represents the genesis of modern landscape design in Northern America. Designed by one of the pioneers of modernism in landscape architecture, the garden has a strong cultural context. According to James Rose, gardens were part of homes that were supposed to be places where home owners and their friends could relax and have fun at no extra cost. In other words, James Rose wanted landscape architects in USA to move out of the norm and start thinking out of the box when designing gardens. To him, conventional landscape design styles were boring and wasteful. James Rose used several artistic elements when designing his private garden after Second World War. This private garden later made him famous not only in North America but all over the world. His design style was largely influenced by Renaissance movement, which advocated for modern landscape designing. During this period, pioneers of modern landscape architecture relied on three fundamental design princi ples. The first was to create garden accounting that were innovative with some intellectual forms. The second was to create an amorphous relationship between the indoor and outdoor environments of the building by applying a unified design style. The third was to balance between garden use and surrounding landscape. The push for these three design principles became dominant in architecture history between 1938 and 1941. Colour is one of the key elements that James Rose used in his private garden, as shown in Figure 6 below. He believed that combining different colours could give the garden different perspectives. Nevertheless, he made sure that the colors integrated with the surrounding landscape. To the north end of the house was James Roses studio, in the center was his mothers house and to the south was his sisters small guesthouse. He called the house a tiny village. Each interior of the house opened to a common area covered with trellis and paved with grass panels and flagstones. He also used rope panels and moveable bamboo screens to provide privacy for each area, as shown in Figure 7 below. He used this materials because he was against resource wastage and supported recycling and reuse of materials(Cardasis, 2017). According to James Rose, having a spectacular garden did not necessarily mean spending too much to build and construct it. On this garden, he used recycled materials such as salvag ed wood, old doors and railroad ties. His garden was planted with vines and ferns, resonating the structural character of wooden architecture. This was a strong statement of not disregarding traditional architecture that had been used in America for many years but instead being more creative about it. He gave all the recycled materials he used to create the garden new aesthetic and functional uses. Therefore James Rose focused on mimicking the rapid changes that happened in nature and peoples lifestyle without having negative environmental nor economic impacts. He believed that creativity, innovation and simplicity were the key tools to modern landscape architecture(Cardasis, 1994). Design Philosophy Abstract modernism was the basic design philosophy that James Rose applied when designing his private garden. He designed this garden when USA was going through transformation. This was post World War II period and a lot of changes were happening in the country, including population, lifestyle, economic activities and nature. As a landscape architect, James Rose saw the need for changes in landscape design styles. He wanted to create gardens that matched the needs of people and surroundings. Living with his mother and sister, James Rose understood the need for privacy, not for protection against mischievous acts but giving people the freedom to choose what to do when in outdoor. This is quite different from Donnell Garden by Thomas Church where the garden did not seem to have a beginning or an end. James Rose created privacy for each segment of the garden especially at the openings of the interiors. The work of James Rose was also influenced by Japanese design through seamless integr ation of outdoor and indoor rooms. This is a crucial trademark of modern design as landscape architects aim at creating outdoor spaces that complement indoor spaces. James Rose applied this very principle, which is linked to Japanese design, to his private garden. Another principle that James Rose applied was integration of the garden with the surrounding. There are many natural, native trees in the garden. This makes the garden to be properly integrated in the surrounding landscape. The trees are tall and green to give the garden a more natural look and feel. Another very interesting aspect of these trees is that they are also part of the garden structure. Some trees are seen to be penetrating inside the building and probably have a function to perform. This is very unique and thought-provoking even to todays landscape architects. Recyclability and reuse is another element that James Rose introduced in his private garden. A significant percentage of materials used in the garden were natural and recycled. He used old doors, railroad ties, salvaged wood, grass panels, flagstones, rope panels and bamboo screens, as shown in Figure 8 below. These are materials that were locally available and therefore cost less. This is a very crucial idea even in modern landscape architecture considering the growing concerns of global climate change. Recycling and reuse of materials and use of locally available materials are some of the practices that are being encouraged so as to reduce environmental impacts. So James Rose started the idea of modernism in landscape architecture with an aim of creating distinctive, functional and resource efficient gardens. Formal Qualities Reflection of formal qualities of Residence Own House Garden is done by considering aspects such as topography, vegetation, source of water, climate of the area, material and geomorphology of the location of the garden. It is important to analyze these aspects and evaluate their relationship with or influence on design of the garden. Residence Own House and Garden is located in Ridgewood, New Jersey, USA. The coordinates of Residence Own House Garden are 40 58 46 N, 074 07 00 W and the basic geomorphology in the area is sand shale rock extensions combined with sandstone. The topography where Residence Own House Garden is located is western Pennsylvania across Delaware River and Delaware southwest across Delaware Bay. The climatic zone of the area is hardiness zone and hot-summer humid continental climate. According to Koppen-Geiger climate classification, the climate of Ridgewood is Cfa (Humid Subtropical Climate). This climate is warm and temperate. The rainfall is plenty even du ring the driest month. The average annual rainfall in the area is 1248.1 mm. Average minimum temperature is 5.6 C while the maximum temperature is 16.9 C. The hottest and coldest months are July and January respectively. The main source of water in the area is long island sound. Indigenous vegetation is predominant in the area, including oak in northern forests and Pine Barrens in pine forests. The topography, climate, geomorphology, material, water source and vegetation of Ridgewood, New Jersey are very favorable for the ideas of Residence Own House Garden. Having an idea of creating exceptional gardens using locally available and recycled materials, James Rose has plenty of choices. Wood is the predominant material that James Rose used. Almost every section of the garden has a wooden element, including the benches, as shown in Figure 9 below. This is probably because the climate favored plant growth and therefore use of locally available materials was a good and cost-effective idea. Bamboos, grass panels and flagstones are the other natural materials used. The veins and ferns planted in the garden shows the areas favorable climatic conditions that are characterized by evenly distributed rainfall. Stylistic Attributes Residence Own House Garden has many stylistic attributes. The design philosophy of James Rose is to design a functional and modern garden with natural or locally available materials. James Rose was born in 1913 and dies in 1991. However, his philosophy is needed now and in the future than never before. Building sector contributes a significant amount of global carbon emissions and James Roses philosophy is among the encouraged strategies of reversing the current situation. Maybe James Rose saw what many were not seeing after World War II and that is why he rooted for his design philosophy. A great conservationist indeed. Most of the outdoor trellis in the garden were constructed around existing trees the best way to integrate a garden on a site without cutting down trees or demolishing other structures. The garden is very colorful through integration of natural trees and materials. Besides providing a place for relaxation and family activities, it also provides a place for work. It has common areas that are enclosed with trellis, grass panels and bamboo screens to protect the occupants from unnecessary disturbances. The wooden architectures structural character is also complemented with vines and ferns throughout. The predominance of recycled materials also show James Roses attitude towards material conservation. Residence Own House Garden has a central fountain sculpture at the centre of the garden, as shown in Figure 10 below. This is the most symbolic and representative design element of modern landscape architecture. Besides being a symbol of modern landscape architecture, the fountain also creates a cool, fresh and relaxing environment in the garden all year round. Conclusion Donnell Garden by Thomas Church and Residence Own House Garden by James Rose are two gardens that were designed by pioneers of modernism in landscape architecture. These two gardens did not just capture the attention of people in United States of America but they were and are still great works in the history of modern landscape architecture. The two gardens are similar and unique in equal measures. Both landscape architects wanted to create masterpieces that could represent their design philosophies of modern landscape architecture, and they truly did it successfully. Each of the gardens has a unique design philosophies, formal qualities and stylish attributes. For example, Donnell Garden has a central kidney-shaped swimming pool with smooth curved Adaline Kent sculpture while Residence Own House Garden has central fountain sculpture as their symbolic and representative elements of modern landscape architecture. James Rose also focused on avoiding wastage of resources by using recy cled, natural and locally available marketing. These two gardens are indeed a representation of the genesis of modern landscape architecture that should be emulated by stakeholders in landscape architecture field. References Anderson, B., 2011. An exploration of the potential benefits of healing gardens on veterans with PTSD, Logan, Utah: Utah State University. Beattie, J., 2015. Gardens at the frontier: new management perspectives on garden history and designed landscapes. Studies in the History of Gardens Designed Landscapes , pp. 1-4. Cardasis, D., 1994. Maverick impossible: James Rose and the modern American garden. In: The Modern Garden in Europe and the United States, Proceedings of the Garden Conservancy Symposium. Cold Spring, N.Y.: Garden Conservancy, pp. 31-41. Cardasis, D., 1995. James C. Rose. In: Pioneers of American Landscape Design II: an annotated bibliography. Washington, DC: Historical Landscape Initiative, US National Park Service, pp. 127-132. Cardasis, D., 2017. Jmes Rose: a voice offstage. Athens, GA: Library of American Landscape History, University of Georgia Press. Church, T., 1995. Gardens Are For People. Berkeley, California: University of California Press. Climate-Data.Org, (n.d.). Climate: Sonoma. [Online] Available at: https://en.climate-data.org/location/125175/ Detweiler, M. et al., 2012. What is the evidence to support the use of therapeutic gardens for the elderly?. Psychiatry Investigation, pp. 100-110. Franklin, D., 2012. How Hospital Gardens Help Patients Heal. [Online] Available at: https://www.scientificamerican.com/article/nature-that-nurtures/ Gray, T. Birrell, C., 2014. Are biophilic-designed site office building linked to health benefits and high performing occupants?. International Journal of Environmental Research and Public Health, pp. 12204-12222. Jere, S., 1993. The California Garden. Washington, DC: Landscape Architecture Foundation. Lau, S. S., Gou, Z. Liu, Y., 2014. Healthcare campus by open space design: approaches and guidelines. Frontiers of Architectural Research, pp. 452-467. Treib, M., 2003. Thomas Church Landscape architect: Designing a Modern California Landscap. San Francisco, Calfornia: William Stout Publishers. Treib, M., 2005. The Donnell and Eckbo Gardens: Modern California Masterworks. Berkeley: University of California Press. Trufelman, A., 2017. The Pool and Stream. [Online] Available at: https://99percentinvisible.org/episode/the-pool-and-the-stream/ Tunnard, C., 2014. Gardens in the Modern Landscape: A Fascimile of the Revised 1948 Edition. Philadelphia: University of Pennsylvania Press.

Sunday, December 1, 2019

Music As Resistance Wale Golden Salvation free essay sample

The first work heard from him was his mix tape 100 miles and running. This tape consisted of go-go based production. This had never been done before in hip- hop, this alone shows Wales resistant nature. He didnt want to conform to the typical production style that most rappers were using at the time of that release. Throughout that project, he consistently spoke completely truthfully about what he does, he never yapped about gunplay and drug-slinging, he never praised any of the negative connotations that are prominent in todays hip hop. One of the most prominent things in the hip-hop industry is the flashy lifestyle that most artists portray. The game is filled with chain flashing none flashing, and braggadocio. Wale denies these stereotypes by constantly displaying his proper knowledge of simple etiquette, be it through his lyrics or his actions. To me, wale is a genius trapped in a game filled with fake gangsters and trend-followers. We will write a custom essay sample on Music As Resistance Wale Golden Salvation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In a simple sense, wale is a trendsetter; he brings his own style to the table, he is his own man, which is something that is always preached in the rap game but barely ever put on display. Hose the song Golden Salvation because it speaks to the exact topic that I previously discussed. Basically, throughout the song Wale explains how papers boast diamond-flooded chains bearing the face of Jesus. But, while wearing these chains, the rappers arent serving Christ in any way, shape, or form. In fact, the Jesus piece is simply written off as another regular old piece of jewelry. Salvation is defined as deliverance from sin and its consequences.They expect the chain itself, the diamonds, and shiny components to deliver them to new heights in life, they completely ignore the face that the chain consists of; hence the name Golden Salvation. With this line: N*gas use me to shine, I been helping you Stunt, look, why these rapping dudes anti hit e in months? Wale shows that he believes that these young men particularly black men should go to Jesus more often and ask him for assistance in life instead of placing their destiny on living the typical flashy lifestyle.He follows this up with l dont ask for too much, colored in Wows, women will play you close, ad them hungry jokers will try and test yea, now yea confidence through the roof, still you show no respect kid, the good book sai d praise button so stuck in your ways you got my image appraised. With this, hes saying that Jesus doesnt ask for much, but if they boast his face on a monad encrusted chain, a bad omen will follow them and their chances of getting robbed will increase. Also, he uses a play on words with praise. Implying that the bible tells us to praise the lord but instead, they get his an appraisal on a chain bearing his face. This song speaks volumes to the terrible trends the rap industry tends to set and cause millions to follow. It also showcases Wales ability to drop knowledge on important topics in the black community and also do it in an intriguing way that requires you to not only listen, but also deeply think about the years. Lyrics: pray PraisesGive thanks To the Fad Holy Water Jesus piece But dont nobody wand know Jesus peace, no [Verse 1 N*gas use me to shine been helping you stunt Look why these rapping dudes anti hit me in months dont ask for too much Covered in Was Women goon play yea closer And them hungry jokers goon try test yea Now they bumping your record Yea confidence through the roof Still yea show no respect kid The good book said pray But you so stuck In your ways You got my image appraised Why you sinning out waiting For nicating with women I sat right there on your table Dont bow your head for grace Though Im keeping you gracefulBrothers was born to cheat Though I question who faithful Fast for me nope Blasphemy though Rap to it so racks up To match up with me froze How can a diamond supersede my wisdom seen a reverend with five of me as he read his scripture This is bible readings to people with malice intentions. Music As Resistance Wale Golden Salvation free essay sample Singing Music of Afro Americans Music As Resistance: Wale Golden Salvation I chose this song because I believe it is extremely relevant to hip-hop culture, and the message it portrays went over the heads of a lot of listeners. First of all, I personally believe that the DC-based artist Wale is the best lyricist in the industry currently. The way he flows over his ingenious choices of production and conveys his meaningful messages in a smooth way is simply amazing. I first discovered Wale when I was about 13 years old.The first work I heard from him was his mix tape 100 lies and running. This tape consisted of go-go based production. This had never been done before in hip-hop, this alone shows Wales resistant nature. He didnt want to conform to the typical production style that most rappers were using at the time of that release. Throughout that project, he consistently spoke completely truthfully about what he does, he never yapped about gunplay and drug-slinging, he never praised any of the negative connotations that are prominent In todays hip hop. We will write a custom essay sample on Music As Resistance Wale Golden Salvation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page One of the most prominent things in the hip-hop industry is the flashy lifestyle that most artists portray. The game is filled with chain flashing, money flashing, and braggadocio. Wale denies these stereotypes by constantly displaying his proper knowledge of simple etiquette, be it through his lyrics or his actions. To me, wale is a genius trapped in a game filled with fake gangsters and trend-followers. In a simple sense, wale is a trendsetter; he brings his own style to the table, he is his own man, which is something that Is always preached In the rap game but barely ever put on display.I chose the song Golden Salvation because It speaks to the exact topic that I previously discussed. Basically, throughout the song, Wale explains how rappers boast diamond-flooded chains bearing the face of Jesus. But, while wearing these chains, the rappers arent serving Christ in any way, shape, or form. In fact, the Jesus piece is simply written off as another regular old piece of jewelry. Salvation is defined as deliverance from sin and its consequences.They expect the chain itself, the diamonds, and shiny components to deliver them to new heights in life, they completely ignore the face that the chain consists of; hence the name Golden Salvation. With this line: N*gas use me to shine, I been helping you stunt, look, why hose rapping dudes mint hit me in months? Wale shows that he believes that these young men particularly black men should go to Jesus more often and ask him for assistance In life Instead of placing their destiny on living the typical flashy lifestyle.He follows this up with l dont ask for too much, colored In Wows, women will play you close, ad them hungry Jokers will try and test yea, now yea confidence through the roof, still you show no respect kid, the good book sa id praise but you so stuck In your ways you got my image appraised. With this, hes saying that Jesus doesnt ask for much, ND their chances of getting robbed will increase. Also, he uses a play on words with praise.Implying that the bible tells us to praise the lord but instead, they get his an appraisal on a chain bearing his face. This song speaks volumes to the terrible trends the rap industry tends to set and cause millions to follow. It also showcases Wales ability to drop knowledge on important topics in the black community and also do it in an intriguing way that requires you to not only listen, but also deeply think about the lyrics. Lyrics: Pray Praises Give thanks To the Fad Holy Water Jesus pieceBut dont nobody want know Jesus peace, no [Verse 1 :] N*gas use me to shine I been helping you stunt Look why these rapping dudes anti hit me in months I dont ask for too much Covered in Wows Women gong play yea closer And them hungry Jokers gong try test yea Now they bumping your record Yea confidence through the roof Still yea show no respect kid The good book said pray But you so stuck in your ways You got my image appraised Why you sinning out wa iting Fornicating with women I sat right there on your table Dont bow your head for grace Though Im keeping you graceful Brothers was born to cheatThough I question who faithful Fast for me nope Blasphemy though Rap to it so racks up To match up with me froze How can a diamond supersede my wisdom I seen a reverend with five of me as he read his scripture This is bible readings to people with malice intentions With a Cuban attached On a secular scene I died for you all Now n*gas die over me [Hook:] Jesus piece Jesus piece Jesus piece But dont nobody want know Jesus peace [verse 2:] Sierra Leone diamonds LA to New York got me? If nobody stores have me Some probably would know about me All over paparazzi Shout out to MurrainSee they commercialism me Im sure there will be more robberies Work New chain swag get your crew laid fast Or laid down or not a ticket next to dad And the bible told you wait on my arrival But patience was your problem So get Jacob to come find me And religion is a style if not.

Tuesday, November 26, 2019

Child Rearing Essays - Economic Ideologies, Anti-capitalism

Child Rearing Essays - Economic Ideologies, Anti-capitalism Child Rearing In the essay, Bringing Up Children, the author, Ruth Benedict, explores two methodologies of child rearing American and Japanese. In examination of each culture?s techniques, we find that they are in complete contrast of one another like their places on earth. Each system exemplifying one side of the extremes. We are left to ponder which of the two ideals are superior. Which arrangement of life will benefit the individual as well as society to a greater extent? The answer, however, lies not in the option mentioned above. Rather, the ideal life structure for anyone to be risen by is that which combines the two sides of the extremes thereby extracting the best of both worlds. The American upbringing is described as a "U" by the author. In such circumstance, youth and old age are the apexes of human constraint. The child is quickly taught through physical and psychological means that their wishes are irrelevant to what their parents deem ?ideal? for them. With the passing of time into adolescence and eventually adulthood, freedom is gradually fueled until financial independence is achieved. However, independence and free will are slowly siphoned during the first signs of mental deterioration at old age. One leaves the earth as they entered it under the care of others. In sharp contrast, the Japanese mannerism of raising children is noted by Benedict as an upside down ?U?; depicting the level of restraints one will experience throughout their life. The greatest amount of freedom occurs at the genesis and decline of the human body. In between the two tips of man?s lifeline, a psychological birdcage traps and stagnates the development of free human indulgence. Quite the reverse of what is seen here in North America but nonetheless a valid one. In any system, such as government, the wisest choice is a mixture between the two conventions of the extremes. In North America, and especially Canada, government is neither totally towards a capitalistic nor socialist, communist system. These governments have blended capitalistic with socialist, communist ideas. These nations possess private ownership, a capitalistic idea yet also have public education, a socialist, communist idea. Yet, could any of us imagine doing without either of these? The ideal human lifeline should be arranged no different from government itself. A median of the American and Japanese systems ? compromises of freedoms and restrictions throughout life. In the beginning, it is important that guidelines be set for the child when he/she is exposed to their new world. Firm disciplines are necessary to foster an understanding that they are not supreme in their new world. However, it is equally important to allow for a certain amount of freedom to maintain a loving and affectionate relationship. As one develops and matures into adulthood, independence should also be increased. That is not to say total freedom is allotted. Given in abundance, the end product is usually egotism and an inability to work and cooperate to others in the workplace. Certainly, humility must also be an ingredient in the solution. The final stage of life should see certain liberties taken away from the mentally deteriorated, yet the elderly deserve the right to ! decide their abilities and limitations. At this point in life of retirement, after decades of hard work, he/she has earned the right to enjoy life without restraints. A well balance between liberty and restriction throughout life is the key to a content, yet responsible, individual. Neither the American nor Japanese pattern of life tends to be complete. Each holds its strengths as well as weakness. In this world of stubborn and adamant behaviour, shouldn?t we all look towards a compromise?

Friday, November 22, 2019

Richard Nixons Native American Federal Policy

Richard Nixons Native American Federal Policy Modern American politics among various demographics can be traced along predictable lines when it comes to a two-party system, especially those of ethnic minorities. Although the civil rights movement enjoyed bipartisan support early on, it became split along regional lines with Southerners of both parties opposing it, resulting in the conservative Dixiecrats migrating to the Republican party. Today African-Americans, Hispanic-Americans, and Native Americans are typically associated with the liberal agenda of the Democrats. Historically, the conservative agenda of the Republican Party tended to be hostile to the needs of American Indians, especially during the mid-20th century, but ironically it was the Nixon administration that would bring much-needed change to Indian country. Crisis in the Wake of Termination Decades of federal policy toward American Indians overwhelmingly favored assimilation, even when the governments prior efforts toward forced assimilation were declared a failure as a result of the Merriam Report in 1924. Despite policies designed to reverse some of the damage by fostering greater self-government and a measure of tribal independence in the Indian Reorganization Act of 1934, the concept of improvement of the lives of Indians was still framed in terms of progress as American citizens, i.e. their ability to assimilate into the mainstream and evolve out of their existence as Indians. By 1953 a Republican-controlled Congress would adopt House Concurrent Resolution 108 which stated that at the earliest possible time [Indians should be] freed from all federal supervision and control and from all disabilities and limitations specially applicable to Indians. Thus, the problem was framed in terms of Indians political relationship to the United States, rather than a history of a buse stemming from broken treaties, perpetuating a relationship of domination. Resolution 108 signaled the new policy of termination in which tribal governments and reservations were to be dismantled once and for all by giving greater jurisdiction over Indian affairs to some states (in direct contradiction of the Constitution) and the relocation program which sent Indians away from their home reservations to large cities for jobs. During the termination years, more Indian lands were lost to federal control and private ownership and many tribes lost their federal recognition, effectively eradicating the political existence and identities of thousands of individual Indians and over 100 tribes. Activism, Uprising, and the Nixon Administration The ethnic nationalist movements among Black and Chicano communities fueled the mobilization for American Indians own activism and by 1969 the Alcatraz Island occupation was underway, grabbing the nations attention and creating a highly visible platform upon which Indians could air their centuries-long grievances. On July 8, 1970, President Nixon formally repudiated the termination policy (which was established ironically during his tenure as vice president) with a special message to Congress advocating for American Indian Self-determination. . . without the threat of eventual termination, assuring that the Indian†¦[could] assume control over his own life without being separated involuntarily from the tribal group. The next five years would see some of the most bitter struggles in Indian country, testing the Presidents commitment to Indian rights. In the latter part of 1972, the American Indian Movement (AIM) in conjunction with other American Indian rights groups convened the Trail of Broken Treaties caravan across the country to deliver a twenty point list of demands to the federal government. The caravan of several hundred Indian activists culminated in the week-long takeover of the Bureau of Indian Affairs building in Washington DC. Just a few months later in early 1973, was the 71-day armed confrontation in Wounded Knee, South Dakota between American Indian activists and the FBI in response to an epidemic of uninvestigated murders and the terrorist tactics of a federally-supported tribal government on the Pine Ridge Reservation. The heightening tensions across Indian country could no longer be ignored, nor would the public stand for more armed interventions and Indian deaths at the hands of federal officials. Thanks to the momentum of the civil rights movement Indians had become popular, or at least a force to be reckoned with and the Nixon administration seemed to grasp the wisdom of taking a pro-Indian stance. Nixons Influence on Indian Affairs During Nixons presidency, a number of great strides were made in federal Indian policy, as documented by the Nixon-era Center Library at Mountain State University. Among some of the most significant of those achievements are: The return of the sacred Blue Lake to the people of Taos Pueblo in 1970.The Menominee Restoration Act, restoring the recognition of the previously terminated tribe in 1973.In the same year, the Bureau of Indian Affairs budget was increased by 214% to a total of $1.2 billion.The establishment of the first special office on Indian Water Rights - A bill authorizing the Secretary of Agriculture to make direct and insured loans to Indian tribes through the Farmers Home Administration.The passage of the Indian Financing Act of 1974, which supported tribal commercial development.The filing of a landmark Supreme Court suit to protect Indian rights at Pyramid Lake.Pledged that all available BIA funds be arranged to fit priorities set by tribal governments themselves. In 1975 Congress passed the Indian Self-Determination and Education Assistance Act, perhaps the most significant piece of legislation for Native American rights since the Indian Reorganization Act of 1934. Although Nixon had resigned the presidency before being able to sign it, he had laid the groundwork for its passage. References Hoff, Joan. Re-evaluating Richard Nixon: His Domestic Achievements. nixonera.com/library/domestic.asp Wilkins, David E. American Indian Politics and the American Political System. New York: Rowman and Littlefield Publishers, 2007.

Thursday, November 21, 2019

Current issues in human rights - War, genocide, mass human rights Essay

Current issues in human rights - War, genocide, mass human rights violations - Essay Example ted Nations (1948), this document has provided a blueprint for the development of various international laws and criminal courts against individuals who have the high genocide responsibilities. Countries such as Serbia, Guatemala, the former Soviet Union and even Rwanda have experienced genocide in the 20th century and such crimes have been punished based on the provisions of this convention. The convention has various articles which highlight the level of responsibility of each and every country’s leadership in ensuring that genocide and crimes against humanity are prevented at all costs. For example, chapter 4 states that every individual, state or non-state actor shall be held individually responsible for abetting, financing, directly and indirectly participating and being complacent in genocide activities. Such provisions have assisted in ensuring that individuals are brought to book for allowing and participating in activities that are equivalent to genocide in different parts of the world. The international tribunal for Kosovo and Rwanda were all constituted on the premise of the genocide convention to try various cases of genocide against religious and tribal groups. This document is a conclusive documentation of the articles of the convention that has defined genocide and abuse of human rights as we know it today. Though changes have been done to the convention, the United Nations (1948) is an important document that has informed the decision of other international bodies and help in reducing incidence of abuse of human rights in the presence or absence of crisis. In the study of human rights and genocide, the United Nations (1948) provides an accurate historical encounter of how a convention that has defined international behavior of those in power was developed. This document has significantly contributed to the development of various tribunals aimed at providing justice to victims of genocide in countries such as Rwanda Kosovo where rampant human

Tuesday, November 19, 2019

Juvenille ofenders in criminal court Essay Example | Topics and Well Written Essays - 500 words

Juvenille ofenders in criminal court - Essay Example This bias towards punishment and not rehabilitation is expressed by McCollum (as quoted in Redding 92) in support of the Federal law. The changes mean to satisfy concerns, increase juvenile justice efficiency and curb growth in juvenile offending. National transfer efforts make 2 percent of juvenile delinquency cases caused by judge’s willingness to transfer, large numbers of offenders and less treatment options in the juvenile system. J.S. Attorney General Janet Reno (as quoted in Redding 93) asserts that behind this response is unexplained delinquency characterized by sharp increment in violent index crimes. The transfer consequences for juveniles stated in Kent v. United States 1966 are longer prison sentences, loss of juvenile protective and rehabilitative possibilities, potential abuse in adult prisons and loss of rights associated with felony convictions. Other sanctions include loss of voting and firearm rights; ineligibility for military service; felony record and declaration of felony status on employment; negative influence on future criminal processing, prosecutions and sentencing; and exposure t o capital punishment. As the US Department of Justice 1999 stated (Redding 121), effects of transferring juvenile offenders have not been clear with studies showing short term actual increase in recidivism and society reintegration problems. Transfer policies must be enacted to ensure a smooth transition and justice be served in a fair manner. Purposes of transfer such as deterrence and community protection have not been achieved as formal criminal processing, conviction and sentencing seem to have little merit and many adverse consequences. Transfers don’t seem to promote community protection and decrease juvenile offender reformation (Redding 95). This means that a new approach in reference to the transfer of the juveniles must be evaluated to ensure protection of the community is enhanced by the judicial system. Penology policies to counter this

Sunday, November 17, 2019

Diversity in Universities Essay Example for Free

Diversity in Universities Essay The process of getting education involves going through a number of stages. They are the pre-school, primary school, high school and finally the tertiary institutions and the university. Admission into the universities or colleges involves the process in which students who have completed high school join tertiary education at universities and colleges. An educational system differs from one country to another. Some countries have self governing bodies which centralize the administration of standardized exams. Diversity refers to the process of recognizing and appreciating the individuals’ characteristics that make them unique so as to promote the celebration of the individual and collective achievement of those persons. Universities consists of individuals who contribute significantly to the growth of culture of the community through expressing their views on how to improve on the performance of an organization Diversity in universities. As teachers teach in universities, they always need to update their knowledge in their fields of specialization because of changing trends. Diverse systems in universities enable students to know in advance the type and quality of teaching and qualification they will receive. Benefits of diversity When an organization values diversity, it means that it values the local community as well as themselves. Different values are appreciated by the diverse organization . This kind of organization recognizes the fact that people with different backgrounds skills, attitude and experience brings about fresh ideas and perceptions. Diverse organizations encourage and harness various differences that make their services relevant and approachable. They also get a wide range of views exercised so that it can listen to them and meet the changing needs of its user, staff, volunteers and partners. Intellectual Diversity A review is done about the student’s perception of students towards teachers who attempt to discuss politics in course other than political science in classrooms. Academic freedom should be allowed in college campuses for its easier to correct a situation in the classroom. On other hand arguments should be made to be one sided. For education, it is said to be implemented when students are provided with a variety of perspectives and encouraged to think for them. There are some suggestions given to ensure intellectual diversity at the same time protecting academic freedom, for instance establishing new academic programs political bias in student –funded groups. In conclusion, diversity helps us to see situations from different points of view and therefore assists one to accommodate changes when they arise. It is therefore necessary to learn about diversity so as to appreciate the different research agendas and priorities that may arise that may bring change to a community and thus lead to proper decision making processes within their organizations. Reference: Blosser, S. (2005) Universities Flunk In Intellectual Diversity http://72. 14. 205. 104/search? q=cache:N1K4WYFP6EgJ:www. campusreportonline. net/main/articles. php%3Fid%3D706+intellectual+diversity+in+universitieshl=enct=clnkcd=2gl=keclient=firefox-a Website accessed on September 6, 2008

Thursday, November 14, 2019

The Amazing Life of F. Scott Fitzgerald :: essays research papers fc

F. Scott Fitzgerald lived an amazing life throughout time, overcoming obstacles in his path and persevering through trials and tribulations. As a man who has gone through over four decades of experiencing an overwhelming amount of accomplishments, as well as hardships, F. Scott Fitzgerald is therefore acknowledged as a â€Å"True Man†. In fact, his struggles through childhood, his transition to adulthood and his unstable literary career acknowledges him as a â€Å"Real Man† who is more like a hero.   Ã‚  Ã‚  Ã‚  Ã‚  To begin with, F. Scott Fitzgerald’s childhood was a common one, like other children who grew up during the late nineteenth century. His origin played a key role in how he came to live his life according to the â€Å"American Dream†. Of the Irish ethnicity, F. Scott Fitzgerald was born September 24, 1896 in St. Paul, Minnesota. His family life was one to be considered average for the late 1800s. His mother, Mary Mc Quilla, and father, Edward Fitzgerald were middle class Americans who worked hard to maintain a stable family. Mary Mc Quillan, was the daughter of an Irish immigrant who became wealthy as a wholesale grocer in St. Paul. Both were Catholics. Edward Fitzgerald failed as a manufacturer of wicker furniture in St. Paul, and he became a salesman for Procter & Gamble in upstate New York. After he was dismissed in 1908, when his son was twelve, the family returned to St. Paul and lived comfortably on Mary Fitzgerald’s inheritance. Both wer e of the Catholic decent. F. Scott Fitzgerald, named after his distant cousin, Francis Scott Key, the composer of the Star Spangled Banner, was the only child born to his fortunate parents. Due to several issues, his family moved regularly.   Ã‚  Ã‚  Ã‚  Ã‚  Also, F. Scott Fitzgerald transition to adulthood came about with a dramatic twist as he experienced ups and downs as any normal being would. Starting as a young lad and entering the field of becoming a â€Å"man†, Francis began to start a new life. He entered Princeton University in 1913 but allowed other prerogatives to take over his priorities. For example, Fitzgerald neglected his studies for his literary apprenticeship. He wrote the scripts and lyrics for the Princeton Triangle Club musicals and was a contributor to the Princeton Tiger humor magazine and the Nassau Literary Magazine. His college friends included Edmund Wilson and John Peale Bishop. On academic probation and unlikely to graduate, Fitzgerald joined the army in 1917 and was commissioned a second lieutenant in the infantry.

Tuesday, November 12, 2019

Understanding The Difference of Living Standards & Standard of Living

The American life style has been very much shaped by their economy. Nearly all aspects of American, and for that matter the rest of the world†s, life have been changed by their economy†s in some way, shape or form. Everything from the beds we sleep on, to the food we eat, to the jobs we aquire to make ends meet is continuously shaped by the different economies each respective country has. So what is quality of life anyway? There are probably a thousand different answers to that question, but they all point in the same direction. Quality of life means how happy you are with the lifestyle you have. Are you unhappy because you don†t have the belongings you want, or are you perfectly happy being without them, and believe in just enjoying life for what it is. Quality of life is a measure of your social, economic and mental well being. Standard of living is something totally different from quality of life. Although they sound the same and the meanings of the separate words are similar, each phrase has it†s own meaning. The standard of your living may affect your standard of life though. Standard of living means the material possessions you have. It is the degree you are able to satisfy your material wants and needs. First, to understand how the fact that the United States is a market economy affects the quality of life there, it helps for you to know some history on the subject. When the United States first started there was practically no secondary industry, this was because there hadn†t been a need for it before then. All the States did was â€Å"harvest† the raw goods from the land and sell them back to the mother country. There wasn†t any need to have any secondary industry. This all changed when they became a separate country. Later on when the British industrial revolution was about at it†s midriff the American revolution kicked in. this changed the secondary industry from a cottage based industry to a factory based industry with the introduction of machines that could do the work of several men. The farmers started to move out of the country and in to the big cities, where all the work was. Eli Whitney can be credited with the mass production of interchangeable pa rts. Unfortunately, this system created a feeling of alienation. The workers in the the factorys were in a totally different social class than the managers. This gap along with the fact that they didn†t feel like they were part of the coroporation, a corporation acts as a single fictcios person, the workers didn†t feel like they were part of this person. The quality of life of the workers at these factories went down. They felt alienated at work, then they went home to poor housing conditions, malnutrition and virtually no social mobility. Although they weren†t nearly as bad as in Britain. The producers were happy though; they were making lots of money and more and better products than ever before. This leads to the next issue of the relations between the labor force and management. This affects how people get the products, and how some people work, thus affecting the quality of life of many American citizens. Labor and management often have disagreements because the two groups have different views on how things should work. Management wants to keep production costs at a minimum, and therefore giving workers a low wage, while labor workers want high wages and lots of benefits for themselves. When the two groups have a disagreement and go into talks they try to find the answer to one simple question, â€Å"what should be the terms and conditions of employment?† and depending on their respective answers, they agree or disagree. These decisions determine the relationship of these two groups. There are many risks in business, especially if you are the proprietor behind a proprietorship. This kind of business means you stand to lose or gain the most. If this fact is causing too much stress, your quality of life may â€Å"go through the floor.† But if you are the kind of person who values money very highly, your quality of life may go up when you have the knowledge that you may be able to make that much money. There are always ways to get around the risks of business; there are exemptions to every rule. There is always to lose too though. Since the great depression, government has had much more to do with the economy than it used to. The government has much more to do with the American citizen†s life since the great depression. This bothers some people, but others like the security of being under the government†s protective wing. The government has decided to exert more controll because they want to limit the fluctuations of the business cycle. The government now makes laws and regulations to restrain the country. There are also many more social programs now, which some people couldn†t live without. These were developed because people were losing money and jobs over things which they didn†t have control over, like market fluctuations. The consumer has a very important role in the economy, and so in there own standard of living, and even in there own quality of life. Some people are only happy when they have the material possessions, while others have no need of material things to make them happy. The people who need the possessions put a high regard to what the role of an American consumer is. Things like complaining when something is unsatisfactory, and becoming informed about which products to buy. Every country has an economic system, and economic systems affect lifestyles, quality of lives, and standards of living. An economy can affect life much the way a climate can. In fact, an economy is actually a kind of climate. An economy can change, fluctuate and cause harm much the same way a weather climate can. The united states has used all levels of government and private enterprise to ensure an adequate quality of life for all of it†s citizens. The market economy is allowed to function by the government as long as it supports the common good, or quality of life.

Saturday, November 9, 2019

Term Paper on Idlc

Term paper on Functions oF credit risk management in non Banking Financial institutions (nBFi) in Bangladesh A study on IDLC Finance Limited Submitted to: Submitted By: Date of Submission: Letter of Transmittal_______________________ 23rd December 2013 Sh University Subject: Submission of term paper of BBA Programme Dear Madam, It is my great pleasure to submit the term paper on â€Å"Functions of Credit Risk management in Non Banking Financial Institutions (NBFI) in Bangladesh, A study on IDLC Finance Ltd † which is a part of BBA Programme to you for your consideration.I made sincere efforts to study related materials, documents, observe operations performed in IDLC Finance Limited and examine relevant records for preparation of the report. Within the time limit, I have tried my best to compile the pertinent information as comprehensively as possible and if you need any further information, I will be glad to assist you. Your most obident pupil, Acknowledgement _______________ _____________At first I would like to thank my honorable internship supervisor from BRAC Business School (BBS), BRAC University, SharminShabnam Rahman for providing me such an opportunity to prepare an Internship Report on â€Å"Functions of Credit Risk management in Non Banking Financial Institutions (NBFI) in Bangladesh, A study on IDLC Finance Ltd â€Å". Without her helpful guidance, the completion of this project was unthinkable. I would like to place my gratitude to the HR of IDLC Finance Limited to enable me to complete my internship in their esteemed organization. Very special thanks goes to Mr.M. Jamal Uddin, Deputy General Manager & Head of Corporate and Structured Finance Division, IDLC Finance Limited & Mr. AlamIftekhar Chowdhury, Manager Corporate Division, IDLC Finance Limited, for helping me in all phase of the internship process. Their overwhelming support for my internship gave me the inspiration to do a better report. During my preparation of the project work I h ave come to very supportive touch of different individuals (respondents from IDLC Finance Limited) & friends who lend their ideas, time & caring guidance to amplify the report’s contents.I want to convey my heartiest gratitude to them for their valuable responses. Executive Summary_______________________ The non-bank financial institutions (NBFIs) constitute a rapidly growing segment of the financial system in Bangladesh. The NBFIs have been contributing toward increasing both the quality and quantity of financial services and thus mitigating the lapses of existing financial intermediation to meet the growing needs of different types of investment in the country. Today all NBFIs are playing a vital role for the growth of the nation’s economy with the best of their ability.During the world recession period NBFIs in Bangladesh act in a stringent manner so that their financial systems as well as the economy do not collapse. 29 NBFIs are now contributing to the growth of n ational economy. IDLC Finance Ltd as a leading and pioneer NBFI started their operation in 1986 and still they are dominating the NBFI sector as well as contributing to the prosper of economic development. Their success in this industry has inspired others to invest their capital in a profitable way.As major business of all NBFIs are providing lease facilities to the business along with various types of loan to individual and organizations therefore risk is associated with each and every product they are offering. To minimize this risk every institution has its own risk management policies. A number of actions are taken so that risk associated to their investment can be minimized. This report is emphasizes credit risk management in NBFIs in Bangladesh. In this regard IDLC Finance Limited has been taken as the sample organization, its, services, rules and regulation, corporate governance is also taken into consideration.Table of Contents_____________________________ Letter of Transmi ttal Acknowledgement Executive Summary 1. 0 Introduction 1. 1 Introduction | | | | | 01 | 1. 2 Origin of the Report | | | | | 02 | 1. 3 Objectives of the Report | | | | | 02 | 1. 4 Methodology | | | | | 03 | 1. 5 Limitations | | | | | 04 | 1. 6 Structure of the Report 2. 0 The Company | | | | | 04 2. 1 IDLC Finance limited | | | | | 06 | 2. 2 Shareholding Structure | | | | | 07-08 | 2. 3 Company chronicle | | | | | 09-10 | 2. 4 Guidance principle | | | | | 11-12 | 2. 5 Organogram | | | | | 13-14 | 2. 6 Products & Service | | | | | 14-19 | 2. 7 Divisions & Department | | | | | 20 | 2. 8 SWOT analysis | | | | | 21-23 | 2. 9 Performance of IDLC Finance Ltd | | | | | 24-25 | 2. 9. 1 CAMEL Rating 3. 0 Credit Risk Management | | | | | 25 | 3. 1 What is Risk? | | | | 27 | 3. Credit Risk | | | | 27-28 | 3. 3 Credit Risk Management Process | | | | 29-38 | 3. 3. 1 Credit Processing/Appraisal | | | | 29-31 | 3. 3. 2 Credit Approval /Sanction | | | | 32 | 3. 3. 3 Credit Documentation | | | | 3 2 | 3. 3. 4 Credit Administration | | | | 33 | 3. 3. 5 Disbursement | | 34 | 3. 3. 6 Monitoring & Control of Individual Credit | | 34-35 | 3. 3. 7 Maintaining the overall Credit Portfolio | | 35 | 3. 3. 8 Classification of Credit | | 36-37 | 3. 3. 9 Managing Problem Credits/Recovery | | 38 | 4. 0 Findings and Analysis— Credit Risk Management by IDLC Finance Ltd. 4. Procedural Work Flow of Lease Marketing 41-44 4. 2 Factors Scrutinized during Appraisal Procedure 45-46 4. 3 Weight assigned to each Risk Factor 47-48 4. 4 Measures Taken for restoration of Default Client 49 4. 5 Functions of Special Asset Management (SAM) 49- 4. 5. 1 Recovery Action Plan by SAM | 50-52 | 4. 5. 1. 1 Regular Accounts | | | 50-51 | 4. 5. 1. 2 Special Accounts | | | 51-52 | 4. 6 Impact of Overdue on Profit Performance of NBFI | | | 52 | 4. 6. 1 Provisioning Policy of Bangladesh Bank | | | 53 | 4. 6. 2 Provisioning Policy of IDLC Finance Ltd. | | 54 | 4. 7 Trend in Provisioning Volume | | | 54 | 4. 8 D efault Client Characteristics Analysis | | | | 55- | 4. 8. 1 Industry Analysis | | | | 57-59 | 4. 8. 2 Cost of projects to sales volume | | | | 60 | 4. 8. 3 Asset size of the Borrower | | | | 61 | 4. 8. 4 Debt/Equity ratio | | | | 62 | 4. 8. 5 Interest rate charge | | | | 63 | 4. 8. 6 Sponsors Business Experience | | | | 64 | 4. 8. 7 Security Ratio | | | | 65 | 4. 8. 8 Relationship with the Client | | | | 66 | 4. 8. 9 Sponsor’s Past Performance 5. 0 Recommendation & Conclusion | | | | 66-68 | 5. 1 Recommendation | | | | 70 | 5. Conclusion | | | | 71 | 1. 1INTRODUCTION The development of financial market has been receiving heightened attention from the policy-makers in recent years. One explanation lies in the fundamental shift of development strategy reflected in the nearly universal embrace of the private sector as an engine of economic growth. The governments in both developed and developing countries, the international financial institutions which exert tremendous influenc e on the policy-making apparatus of developing countries and, to a great extent, the intelligentsia have all joined together as ardent advocates of private entrepreneurship.IDLC Finance Ltd, a leading financial institution of the country achieved significant growth in all areas of business up to 3rd quarter of the year 2009. IDLC began its operation in 1985 as the first leasing company in Bangladesh. In 1995, IDLC was licensed as a Financial Institution by the country's central bank and during the last two decades, the company has grown in tandem with the country's growing economy. The company's wide array of products and services range from retail products, such as home and ar loans, corporate and SME products including lease and term loans, structured finance services ranging from syndications to capital restructuring and capital market services. The company also strengthened its presence in the country's growing stock market with launching a subsidiary-IDLC Securities Limited-whi ch is offering full-fledged brokerage service for retail and institutional clients. . 1. 3 OBJECTIVES OF THE REPORT The main objective of the study is to get a definite idea about how CRM plays a vital role in managing the risk associated with each and every product and services of IDLC Finance Limited.Furthermore, the orientation is very useful to detect whether the theoretical knowledge matches with real life scenario or not. Though the title â€Å"Functions of Credit Risk management in Non Banking Financial Institutions (NBFI) in Bangladesh, A study on IDLC Finance Ltd† very lengthy area, the specific objectives are as follows: 1. To know the necessity of Credit Risk Management. 2. To learn about the whole CRM procedure. 3. To know the decision making process of CRM. 4. To know the functions of Special Asset Management part of CRM 5.To know about the probable modification can be done in the whole CRM process 6. 1. 4 METHODOLOGY OF THE STU Analysis has been made on the basi s of the objectives mentioned before in the context of â€Å"Functions of Credit Risk management in Non Banking Financial Institutions (NBFI) in Bangladesh, A study on IDLC Finance Ltd† The paper will be written on the basis of information collected from primary and secondary sources. (i) Primary Data; Discussion with the respective organization's officials. (ii) For the completion of the present study, secondary data has been collected.The main sources of secondary data are: * Annual Report of IDLC Finance Limited. ? Website of IDLC Finance Limited. * Data from published reports of SEC, DSE * Different Books, Journals, Periodicals, News Papers etc. To make a report various aspects and experiences are needed. But I have faced some barriers for making a complete and perfect report. These barriers or limitations, which hinder my work, are as follows: * Difficulty in accessing data of its internal operations. * Non-Availability of some preceding and latest data. * Some informati on was withheld to retain the confidentiality of the organization.I was placed for only around 3 months of time ; working like a regular employee hindered the opportunity to put the effort for the study. The time span was not sufficient enough to learn all the activities of the organization properly. Therefore, it was very difficult to carry out the whole analysis. 1. 6 STRUCTURE OF THE REPORT The report has two main parts: Part One: This is basically introductory part, the objective and scope of the study, limitations, and research methodology has been highlighted. Brief Introduction of IDLC Finance Limited, its product and service, organizational structure, performance, etc are presented.Part Two: Products of NBFIs for which Credit Risk Management has become a key operational tool, how it performs its overall risk analysis and on the basis of the analysis identification of the ways of reducing the risk, thus maintains the core interest of the business. This part also contains the conclusion, reference ; appendix of the report. 2. 0 The Company 2. 1 ILDC FINANCE LIMITED IDLC Finance Ltd commenced its journey, in 1985, as the first leasing company of the country with multinational collaboration and the lead sponsorship of the International Finance Corporation (IFC) of The World Bank Group.Technical assistance was provided by Korean Development Leasing Corporation (KDLC), the largest leasing company of the Republic of South Korea. The unique institutional shareholding structure comprising mostly of financial institutions helps the company to constantly develop through sharing of experience and professional approach at the highest policy making level. IDLC offers a diverse array of financial services and solutions to institutional and individual clients to meet their diverse and unique requirements.The product offerings include Lease Finance, Term Finance, Real Estate Finance, Short Term Finance, Corporate Finance, Merchant Banking, Term Deposit Schemes, Debentu res and Corporate Advisory Services. The company has authorized capital of Taka 1,000,000,000 (10,000,000 shares of Taka 100 each) and paid up capital of Taka 250,000,000 (2,500,000 ordinary shares of Taka 100 each). IDLC has also established two wholly owned subsidiaries, IDLC Securities Limited and I, Cons Limited to provide customers with security brokerage solutions and IT solutions, respectively. 2. SHAREHOLDING STRUCTURE IDLC was incorporated in the year 1985 as a joint venture public limited company among five foreign and three local financial institutions. Now there are no foreign investors the present Shareholding Structure of IDLC Finance Ltd is given bellow: SL. NO. | NAME OF SHAREHOLDERS | % | | Sponsors/Directors:| | 1 | The City Bank Ltd. | 29. 70 | 2 | SadharanBima Corporation | 7. 62 | 3 | IPDC of Bangladesh Ltd. | 0. 0002 | | Sub-Total | 37. 33 | | GENERAL| | 4 | Institutions : | | | Mercantile Bank Ltd. 7. 50 | | Reliance Insurance Co. Ltd. | 7. 00 | | Eskayef Bang ladesh Ltd. | 8. 00 | | BD Lamps | 1. 32 | | Transcraft Ltd. | 4. 01 | | Eastern Bank Limited | 6. 00 | | Phonix Finance | 1. 00 | | PartexBaverage| 0. 86 | | Marina Apparels | 1. 00 | | ICB | 2. 32 | | Dhaka Stock Exchange Ltd. | 0. 95 | | One Bank Ltd. | 0. 5 | | Star Particle Board | 0. 60 | | Bangladesh Finance ; Invest. | 0. 88 | | Other institutions | 6. 92 | | Sub total | 49. 21 | 5 | Individuals : | | | General Public(Individuals) | 13. 45 | | Mr. A. K. M. Shaheed Reza, Director nominated by | | | Mercantile Bank Ltd. | 0. 017 | | Sub total | 13. 47 | | Total Holdings | 100. 00 | 2. 3 COMPANY CHRONICLE May 23,1985 | Incorporation of the Company | February 22,1986 | Commencement of leasing business |October 1, 1990 | Establishment of branch in Chittagong, the main port city | March 20,1993 | Listed in Dhaka Stock Exchange | February 7, 1995 | Licensed as a Non- Banking Financial Institutions under the Financial Institutions Act, 1993 | November 25, 1996 | Listed on the Chitta gong Stock Exchange | May 27, 1997 | Commencement of Home Finance and Short Term Finance Operations | January 22, 1998 | Licensed as a Merchant Banker by the Securities and Exchange Commission | January 15, 1999 | Commencement of Corporate Finance and Merchant Banking Operation | January 29, 2004 | Opening of Gulshan Branch |November 22, 2004 | Launching of Investment Management Services â€Å"Cap Invest† | February 7, 2005 | Issuance of Securitized Zero Coupon Bonds by IDLC Securitization Trust 2005 | September 18, 2005 | Launching of Local Enterprise Investment Centre(LEIC), a centre established for the development of SMEs with the contribution of the | | Canadian International Development Agency (CIDA) of the Government of Canada | January 2, 2006 | Opening of SME focused branch at Bogra| April 6, 2006 | Opening of Branch at Uttara|May18, 2006 | Opening Merchant Banking branch in the port city if Chittagong | July 1, 2006 | Relocation of Company’s Registered and Cor porate Head Office at own premises at 57, Gulshan Avenue | September 18, 2006 | Commencement of operation of IDLC Securities Limited, a wholly owned subsidiary of IDLC | March 14, 2007 | Launching of Discretionary Portfolio Management Services â€Å"Managed Cap Invest† | August 5, 2007 | Company name changed to IDLC Finance Limited, from Industrial Development Leasing Company of Bangladesh Limited | December 3, 2007 | IDLC Securities Limited Chittagong Branch commenced operation | December 18, 2007 | IDLC Securities Limited DOHS Dhaka Branch opened. | January 6, 2009 | IDLC Finance Limited and IDLC Securities Limited open Sylhet branches | August 09, 2009 | Opening of IDLC Securities Limited, Gulshan Branch | August 26, 2009 | Opening of Gazipur SME Booth | September 09, 2009 | Opening of Imamgonj SME Booth | December 2009 | Opening of Narayangonj Branch | December 2009 | Opening of Savar Branch | 2. 4 GUIDING PRINCIPLESIDLC is a multi-product financial institution offering a n array of diverse financial services and solutions to institutional and individual clients to meet their diverse and unique requirements. Following are the guiding principles that shape the organizational practice of IDLC Customer first: IDLC has grown with its customers, who are believed to be the center of all actions. As the crux of IDLC’s corporate philosophy, customer service gets the highest priority. Innovation: IDLC has continuously introduced new financial products for meeting the needs of the entrepreneurs in a complex ; challenging business environment. The concept of innovation is in-built into the working culture.Professional Knowledge: IDLC is staffed with qualified professionals and innovative minds in the country. Years of operational experience, large industrial database and competent workforce have gives them unparalleled advantages. Professional ethics: The professional at IDLC maintain the highest degree of financial and business ethics in all transaction s with the clients. Over the last two decades, IDLC have put in bets efforts to meet the expectations of the clients and investors. One stop solution: Work at IDLC begins with the idea generation, and then goes on into the feasibility study followed by arrangement of financing to implement the project.IDLC advises the clients, finance them and even arrange financing for them via different financing modes, namely: lease financing, term loan, bridge loan, syndication, bridge loan, syndication, ordinary shares, preferred shares and debentures. Vision: Become the best performing and most innovative financial solutions provider in the country Mission: Create maximum possible value of all the stakeholders by adhering to the highest ethical standards For the Company: Relentless pursuit of customer satisfaction through delivery of top quality services For the Shareholders: Maximize shareholders’ wealth through a sustained return on the investment. For the employees: Provide job satis faction by making IDLC a center of excellence with opportunity of career development.For the society: Contribute to the well-being of the society, in general, by acting as a responsible corporate citizen. Goal: Long term maximization of Stakeholders’ value Corporate Philosophy: Discharge the functions with proper accountability for all actions and results and bind to the highest ethical standards 2. 5 ORGANOGRAM THE APEX OF THE ORGANIZATION IS THE BOARD OF DIRECTORS, WITH THE MANAGEMENT COMMITTEE AND MANAGING DIRECTOR IN THE FOLLOWING TIERS. THE BOARD CONSISTS OF THE FOLLOWING DIRECTORS: * Chairman from Reliance Insurance Ltd * Five Directors nominated by The City Bank Limited * One from SadharanBima Corporation (SBC) * One from Transcom Group One From Mercantile Bank Limited * One Independent Director from Monowar Associates ACTIVITIES OF THE BO ARD The Board appoints the Executive Committee (EC), which takes day-to-day decisions on behalf of the company. Every credit propos al has to be approved by the EC for sanction and disbursement. EC is also authorized to observe and review other major day-to-day operational functions including corporate plans, budgets and borrowing activities. The composition of the EC is as follows: a) Four Directors b) Managing Director / Chief Executive Officer and The Company Secretary shall be the Secretary of the Committee ACTIVITIES OF THE MA NAGING DIRECTORThe Managing Director (MD), appointed by Board, manages the overall organizational activities and also plays the role of the figurehead. ACTIVITIES OF THE DEPUTY MANAGING DIRECTOR The DMD establishes the company’s policies and reviews the operational performance of the company including approval of large credit proposals, major fund procurements, budget and planning and diversification decisions. Diagram: Organ gram of IDLC Finance Limited 2. 6 PRODUCTS AND SERVICES To ensure steady and long term growth as well as to sharpen its competitive edge in a changing and challenging business environment, IDLC always endeavors to diversify into other financial services which have long term prospects.In 1997, it expanded its range of services by introducing Housing Finance and Short Term Finance, which have broadened its customer base and have contributed significantly to IDLC’s growth and profitability. In early 1999, after getting license of Merchant Banking from Securities and Exchange Commission, IDLC started its operation of underwriting, issue management, corporate financing and other investment banking related services. The products and services are as follows 1. LEASING Assets are leased to clients on predetermined rental basis for a fixed term with a purchase option at the end. 2. TERM LOAN The customers are offered loan facilities for a determined term at a negotiated rate. 3. EQUITY FINANCINGIDLC invests money into equity of both publicly traded and non-traded companies for dividends and capital gain. 4. INTER CORPORATE DEPO SIT ( I CD ) This disbursement scheme is offered to clients under two variations: a) Non- Revolving ICD which consists of single disbursement of funds b) Revolving ICD where multiple disbursements and collections take place 5. WORK ORDER/ PURCHASE ORDER FINANCING The clients are financed against their work order or purchase order on a revolving basis. 6. FACTORING Under this scheme, IDLC finances receivables of supply of goods or delivery of services on credit to help the clients realize the maximum portion of their payment soon after they have made the delivery to the buyer.The payment is collected from the customers and the balanced amount is re-reimbursed to the clients. 7. SYNDICATION IDLC helps to raise fund for clients with huge financial requirement through syndication and also help them with the documentation, execution and administration of the syndicated finance. 8. SECURITIZATION IDLC sell financial instruments of organizations in local financial market backed by their asset/cash flows such as loan, lease etc. 9. BRIDGE FINANCE: This refers to short-term finance (maturity of not more than 12 months) in anticipation of immediate long term financing such as public issue, private placement, syndication, loan, lease, debenture, etc. 10. CAP INVESTIDLC maintains a non-discretionary portfolio account for clients where they have absolute power to make investment decisions. the portfolio manager provides margin loan to clients and also prepares the list of securities in which they can invest. 11. DEPOSIT SCHEMES IDLC offer different variety of deposit schemes for clients. * Cumulative Term Deposit * Annual Profit Term Deposit * Monthly Earner Deposit * Double Money Deposit 12. CAR LOAN Term loan are offered to clients for acquiring car, brand new or reconditioned, for their personal use and the ownership is transferred on loan repayment. 13. HOME LOAN IDLC offers loans to purchase apartment to individuals for their personal use 14. REAL ESTATE FINANCEIDLC finances clients to construct house, renovate and extend house, for office chamber/space for professionals etc. under two different schemes: * Developer’s Finance Scheme oCorporate Finance Scheme 15. PRIVATE PLA CEMENT IDLC places the shares/debenture with both domestic and overseas investors (institutions or individuals) on private placement basis. 16. UNDERWRITING IDLC makes a univocal and irrevocable commitment with an issuing company to subscribe to the securities of that company when the existing shareholders or the general public do not subscribe to the securities offered to them. The different types of underwriting offered are: * Initial Public offering (IPO) of common stock, preferred stock, debentures etc. Right Issue oUnderwriting of public securities-loan, lease, debenture 17. ISSUE MANAGEMENT Under this activity, IDLC plan, coordinate and control the entire issue activity of clients and direct other agencies for successful marketing of securities. 18. FINANCIAL A DVISORY S ERVICE IDLC help the existing venture or a new venture by providing various advisory services such as corporate counseling, project counseling, capital restructuring, financial engineering etc. 19. MERGERS AND ACQUISIT IO IDLC help clients to search for the right organization, evaluate the concern based on different types of analysis and select the method of m ;a to make it a profitable deal. 20. TRUSTEESHIP MANAGEME NTWe act as trustee for the debenture holders by accepting security created by the company and take action to safeguard their interest and enforce their rights. Table: Product ; Services offered by IDLC Finance Limited 2. 7 DIVISIONS AND DEPARTMENTS The organization includes divisions which mainly deal with the products and services and departments which support in the operating activities. The divisions are the * Corporate * SME * Merchant Banking * Personal Investment * Factoring * Structured Finance * Operations The departments include * Credit Risk Management (CRM) * Treasury * Human Resource * Accounts and Taxation * Administration and PR Operational Risk Management (ORM)/Internal Control Compliance(ICC) * Special Asset Management(SAM) 2. 8 SWOT ANALYSIS The SWOT analysis for IDLC can be described as follows: Strengths 1. Reputation and brand image: IDLC is well-reputed company and has developed a brand image that is recognized by the customers. IDLC is an international joint-venture company and its shareholders have long records of sustainability and reliability in their respective fields. IDLC is one of the esteemed names in financial market of Bangladesh. Since 1985, IDLC has marked its journey through introduction of various innovative products and thus meeting the needs of large corporate clients. 2 .Product portfolio: IDLC has diverse product portfolio for customers which made them second to none in Non-Banking Financial Industry. 3. Quality Customer Portfolio: IDLC has a Credit Risk Management department of Multinational standard which enables the company to maintain a quality customer portfolio. 4. Human Resources: The Company has competent management team. The over all work force of the company is considered as key resources for the organization. IDLC personnel are motivated, competent, energetic and creative. The company provides utmost support in terms of both technical and moral. 5. Operational efficiency: IDLC provides customized solution to their customers to adjust their need.The company processes the loan applications quickly and smoothly. The sanction and disbursement of the loans are hassle-free. 6. Employee Empowerment: At IDLC decision-making is free flowing and transparent. Every appraiser is given ample opportunity to exercise his/her creativity in accommodating a customer. Approvers are open for any discussion and sanction is largely based upon recommendation of the appraisers. The open and free flow of communication ensures clarification of any queries in no time–from any level of hierarch y. Reasonable suggestions are not only welcome but are highly appreciated. Effective suggestions by the employees are immediately set for action.This flexibility has helped IDLC a lot in shaping up its operations into a level of efficiency and to be an excellent performer in case of loan recovery. Weaknesses 1. High Cost of fund: IDLC as any other NBFIs have high cost of fund in comparison to banks. As NBFIs can take deposit for less than one year from any individuals as banks can do, the deposit base of IDLC is not strong enough to reduce the average cost of fund. 2. More Focus on Volume: Although IDLC has department called Credit Risk Management to monitor the asset quality of the company, still the company sometimes for the sake of profit and past relationship provide loans to customers who at the end hamper the portfolio quality of IDLC. 3.Too Much Diversification: Too much diversification of product and services offering hamper the focus on the core services of the organization . 4. Less People in Liability Marketing: IDLC still employs lesser number of workforces for the aggressive liability marketing in comparison to banks and NBFI like DBH. Opportunities 1. Continuity of Liberalization: Government has continued to liberalize the economy towards more market orientation. This encouraged both local and foreign investors to invest in potential sectors. The privatization plan of government is likely to have positive impact on industrialization. 2. Foreign Investment in Prospective Sectors: In recent days foreign investment in the various prospective sectors has increased phenomenally.This creates a good opportunity for all financial institutions to enter in the booming new sector. 3. Local banks inefficiency: One of the major reasons for thriving of leasing company in Bangladesh is local banks inefficiency of providing project loan. This phenomenon still persists. Threats 1. Threat from banks: In recent times banks are also entering into leasing business whi ch is generally considered as functions of Non-Banking Financial Institutions. 2. Regularity control of government: The legal framework of Bangladesh is relatively weak. Lack of effective foreclosure laws and manual land recording system creates possibility of forgery and disputes.This may hinder the loan recovery from the defaulters. 2. 9 PERFORMANCE OF IDLC FINANCE LIMITED 2. 9. 1 CAMEL RATING Rating type | Base | At 31. 12. 08 | Rating | 1. Capital sufficiency C | Reserve should be 25. 00 crore by the end of 30. 06. 06 | 16. 113 Crore| 1(Strong) | 2. Asset Quality A | (Classified loan/lease and other assets)/overdue amount*100 | 6089. 04/153384. 93*100=3. 97% | 2(Satisfactory) | 3. Management M | Average of C,A,E ; L ratios | (1+2+1+1)/4=1. 25 | 1(Strong) | 4. Earning Ratio E | (NPAT/TA)*100% (NPAT/TE)*100% | (4063. 72/167085. 65)*100%=2. 43% (4063. 72/16113. 12)*100%=25. 22% | 1(Strong) | 5. Liquidity Ratio L | 1. CRR ; SLR reserve 2.Interbank dependency 3. Profit | -Reserved -L ess dependent -Strong | 1(Strong) | CAMEL | Sum of 5 Ratios/5 | (1+2+1+1+1)/5=1. 20 | 1(Strong) | CAMEL rating has improved to 1 comparing to the last year 2(Satisfactory) 3. 0 Credit Risk Management 3. 1 WHAT IS RISK? In general Risk can be define as the â€Å" Probability or threat of a damage, injury, liability, loss, or other negative occurrence, caused by external or internal vulnerabilities, and which may be neutralized through pre-mediated action. † But in Finance risk is defined concerning some special factors of market and other externalities which can affect an individual or organization’s decision.In Finance risk is defined as â€Å"Probability that an actual return on an investment will be lower than the expected return. † Financial risk is divided into the following general categories: (1) Basis risk: Changes in interest rates will cause interest-bearing liabilities (deposits) to re-price at a rate higher than that of the interest-bearing assets (lo ans). (2) Capital risk: Losses from unrecovered loans will affect the financial institution's capital base and may necessitate floating of a new stock (share) issue. Therefore to reduce this risk Banks, NBFIs, and other organizations take various types of measures so that it can be reduced in a minimal affordable limit. In Banks and NBFIs the core risk is credit risk.As Banks, NBFIs performs there major operations on providing loan, lease (for NBFIs) therefore there is a chance of default at time of repayment. So to reduce this default risk so that number of default payment does not increase and to forecast this probability with appropriate tools Banks, NBFIs always work on managing their Credit Risk. Several Guideline and standards are prepared so that Credit Risk for individual banks and NBFIs can be reduced. 3. 2 CREDIT RISK Credit risk is the possibility that a borrower or counter party will fail to meet agreed obligations. Globally, more than 50% of total risk elements in banks and FIs are Credit Risk alone. Thus managing credit risk for efficient management of a FI has gradually become the most crucial task.Credit risk may take the following forms: * In direct lease/term finance: rentals/principal/and or interest amount may not be repaid * In issuance of guarantees: applicant may fail to build up fund for settling claim, if any; * In documentary credits: applicant may fail to retire import documents and many others * In factoring: the bills receivables against which payments were made, may fail to be paid * In treasury operations: the payment or series of payments due from the counter parties under the respective contracts may not be forthcoming or ceases * In securities trading businesses: funds/ securities settlement may not be effected * In cross-border exposure: the availability and free transfer of foreign currency funds may either cease or restrictions may be imposed by the sovereign Credit risk management encompasses identification, measurement, m atching mitigations, monitoring and control of the credit risk exposures to ensure hat: * The individuals who take or manage risks clearly understand it * The organization’s Risk exposure is within the limits established by Board of Risk taking Decisions are in line with the business strategy and objectives set by BOD * The expected payoffs compensate the risks taken * Risk taking decisions are explicit and clear * Sufficient capital as a buffer is available to take risk * Directors with respect to sector, group and country’s prevailing situation * Risk taking Decisions are in line with the business strategy and objectives set by BOD 3. 3 CREDIT RISK MANAGEMENT PROCESS Credit risk management process should cover the entire credit cycle starting from the origination of the credit in a financial institution’s books to the point the credit is extinguished from the books. It should provide for sound practices in: 1. Credit processing/appraisal; 2. Credit approval/sa nction; 3.Credit documentation; 4. Credit administration; 5. Disbursement; 6. Monitoring and control of individual credits; 7. Monitoring the overall credit portfolio (stress testing) 8. Credit classification; and 9. Managing problem credits/recovery 3. 3. 1 . CREDIT PORCES SING/APPRAISAL : Credit processing is the stage where all required information on credit is gathered and applications are screened. Credit application forms should be sufficiently detailed to permit gathering of all information needed for credit assessment at the outset. In this connection, NBFIs should have a checklist to ensure that all required information is, in fact, collected.NBFIs should set out pre-qualification screening criteria, which would act as a guide for their officers to determine the types of credit that are acceptable. For instance, the criteria may include rejecting applications from blacklisted customers. These criteria would help institutions avoid processing and screening applications that would be later rejected. Moreover, all credits should be for legitimate purposes and adequate processes should be established to ensure that financial institutions are not used for fraudulent activities or activities that are prohibited by law or are of such nature that if permitted would contravene the provisions of law. Institutions must not expose themselves to reputational risk associated with granting credit to customers of questionable repute and integrity.The next stage to credit screening is credit appraisal where the financial institution assesses the customer’s ability to meet his obligations. Institutions should establish well designed credit appraisal criteria to ensure that facilities are granted only to creditworthy customers who can make repayments from reasonably determinable sources of cash flow on a timely basis. Financial institutions usually require collateral or guarantees in support of a credit in order to mitigate risk. It must be recognized that collat eral and guarantees are merely instruments of risk mitigation. They are, by no means, substitutes for a customer’s ability to generate sufficient cash flows to honor his contractual repayment obligations.Collateral and guarantees cannot obviate or minimize the need for a comprehensive assessment of the customer’s ability to observe repayment schedule nor should they be allowed to compensate for insufficient information from the customer. Care should be taken that working capital financing is not based entirely on the existence of collateral or guarantees. Such financing must be supported by a proper analysis of projected levels of sales and cost of sales, prudential working capital ratio, past experience of working capital financing, and contributions to such capital by the borrower itself. Financial institutions must have a policy for valuing collateral, taking into account the requirements of the Bangladesh Bank guidelinesdealing with the matter. Such a policy shall, mong other things, provide for acceptability of various forms of collateral, their periodic valuation, process for ensuring their continuing legal enforceability and realization value. In the case of loan syndication, a participating financial institution should have a policy to ensure that it does not place undue reliance on the credit risk analysis carried out by the lead underwriter. The institution must carry out its own due diligence, including credit risk analysis, and an assessment of the terms and conditions of the syndication. The appraisal criteria will of necessity vary between corporate credit applicants and personal credit customers. Corporate credit applicants must provide audited financial statements in support of their applications.As a general rule, the appraisal criteria will focus on: * Amount and purpose of facilities and sources of repayment; * Integrity and reputation of the applicant as well as his legal capacity to assume the credit obligation; * Risk profil e of the borrower and the sensitivity of the applicable industry sector to economic fluctuations; * Performance of the borrower in any credit previously granted by the financial institution, and other institutions, in which case a credit report should be sought from them; * The borrower’s capacity to repay based on his business plan, if relevant, and projected cash flows using different scenarios; * Cumulative exposure of the borrower to different institutions; * Physical inspection of the borrower’s business premises as well as the facility that is the subject of the proposed financing; * Borrower’s business expertise; Adequacy and enforceability of collateral or guarantees, taking into account the existence of any previous charges of other institutions on the collateral; * Current and forecast operating environment of the borrower; * Background information on shareholders, directors and beneficial owners for corporate customers; and * Management capacity of co rporate customers. 3. 3. 2 . CREDIT – APPROVAL/SANCTION A financial institution must have some written guidelines on the credit approval process and the approval authorities of individuals or committees as well as the basis of those decisions. Approval authorities should be sanctioned by the board of directors. Approval authorities will cover new credit approvals, renewals of existing credits, and changes in terms and conditions of previously approved credits, particularly credit restructuring, all of which should be fully documented and recorded.Prudent credit practice requires that persons empowered with the credit approval authority should not also have the customer relationship responsibility. Approval authorities of individuals should be commensurate to their positions within management ranks as well as their expertise. Depending on the nature and size of credit, it would be prudent to require approval of two officers on a credit application, in accordance with the Board ’s policy. The approval process should be based on a system of checks and balances. Some approval authorities will be reserved for the credit committee in view of the size and complexity of the credit transaction. 3. 3. 3 CREDIT DOCUMEN TATIONDocumentation is an essential part of the credit process and is required for each phase of the credit cycle, including credit application, credit analysis, credit approval, credit monitoring, and collateral valuation, and impairment recognition, foreclosure of impaired loan and realization of security. The format of credit files must be standardized and files neatly maintained with an appropriate system of cross-indexing to facilitate review and follow-up. Documentation establishes the relationship between the financial institution and the borrower and forms the basis for any legal action in a court of law. Institutions must ensure that contractual agreements with their borrowers are vetted by their legal advisers.Credit applications mus t be documented regardless of their approval or rejection. For security reasons, financial institutions need to consider keeping the copies of critical documents (i. e. , those of legal value, facility letters, and signed loan agreements) in credit files while retaining the originals in more secure custody. Credit files should also be stored in fire-proof cabinets and should not be removed from the institution's premises. 3. 3. 4 CREDIT ADMINIS TRATION Financial institutions must ensure that their credit portfolio is properly administered, that is, loan agreements are duly prepared, renewal notices are sent systematically and credit files are regularly updated.An institution may allocate its credit administration function to a separate department or to designated individuals in credit operations, depending on the size and complexity of its credit portfolio. A financial institution’s credit administration function should, as a minimum, ensure that: * Credit files are neatly or ganized, cross-indexed, and their removal from the premises is not permitted; * The borrower has registered the required insurance policy in favour of the bank and is regularly paying the premiums; * The borrower is making timely repayments of lease rents in respect of charged leasehold properties; * Credit facilities are disbursed only after all the contractual terms and conditions have been met and all the required documents have been received; * Collateral value is regularly monitored; The borrower is making timely repayments on interest, principal and any agreed to fees and commissions; * Information provided to management is both accurate and timely; * Funds disbursed under the credit agreement are, in fact, used for the purpose for which they were granted; * â€Å"Back office† operations are properly controlled; * The established policies and procedures as well as relevant laws and regulations are complied with; and On-site inspection visits of the borrower’s bus iness are regularly conducted and assessments documented 3. 3. 5 DISBURSEMENT Once the credit is approved, the customer should be advised of the terms and conditions of the credit by way of a letter of offer. The duplicate of this letter should be duly signed and returned to the institution by the customer.The facility disbursement process should start only upon receipt of this letter and should involve, inter alia, the completion of formalities regarding documentation, the registration of collateral, insurance cover in the institution’s favor and the vetting of documents by a legal expert. Under no circumstances shall funds be released prior to compliance with pre-disbursement conditions and approval by the relevant authorities in the financial institution. 3. 3. 6 MONITORING ; CONTROL OF INDIVIDUAL CREDITS To safeguard financial institutions against potential losses, problem facilities need to be identified early. A proper credit monitoring system will provide the basis for taking prompt corrective actions when warning signs point to deterioration in the financial health of the borrower.Examples of such warning signs include unauthorized drawings, arrears in capital and interest and deterioration in the borrower’s operating environment. Financial institutions must have a system in place to formally review the status of the credit and the financial health of the borrower at least once a year. More frequent reviews (e. g. at least quarterly) should be carried out of large credits, problem credits or when the operating environment of the customer is undergoing significant changes. * Funds advanced are used only for the purpose stated in the customer’s credit application; * Financial condition of a borrower is regularly tracked and management advised in a timely fashion; * Borrowers are complying with contractual covenants; Collateral coverage is regularly assessed and related to the borrower’s financial health; * The institution†™s internal risk ratings reflect the current condition of the customer; * Contractual payment delinquencies are identified and emerging problem credits are classified on a timely basis; and * Problem credits are promptly directed to management for remedial actions. * More specifically, the above monitoring will include a review of up-to-date information on the borrower, encompassing: * Opinions from other financial institutions with whom the customer deals; * Findings of site visits; * Audited financial statements and latest management accounts; * Details of customers' business plans; * Financial budgets and cash flow projections; and * Any relevant board resolutions for corporate customers. 3. 3. 7 MAINTAINING THE OVERALL CREDIT PORTFOLIOAn important element of sound credit risk management is analyzing what could potentially go wrong with individual credits and the overall credit portfolio if conditions/environment in which borrowers operate change significantly. The results of t his analysis should then be factored into the assessment of the adequacy of provisioning and capital of the institution. Such stress analysis can reveal previously undetected areas of potential credit risk exposure that could arise in times of crisis. Possible scenarios that financial institutions should consider in carrying out stress testing include: * Significant economic or industry sector downturns; Adverse market-risk events; and * Unfavorable liquidity conditions. Financial institutions should have industry profiles in respect of all industries where they have significant exposures. Such profiles must be reviewed /updated every year. 3. 3. 8 CLASSIFICATION OF CREDIT Credit classification process grades individual credits in terms of the expected degree of recoverability. Financial institutions must have in place the processes and controls to implement the board approved policies, which will, in turn, be in accord with the proposed guideline. This guideline may also be called as Credit Risk Grading (CRG), is a collective is a collective efinition based on the pre-specified scale and reflects the underlying credit-risk for a given exposure. A Credit Risk Grading deploys a number/ alphabet/ symbol as a primary summary indicator of risks associated with a credit exposure. Credit Risk Grading is the basic module for developing a Credit Risk Management system. Credit risk grading is an important tool for credit risk management as it helps the Financial Institutions to understand various dimensions of risk involved in different credit transactions. The aggregation of such grading across the borrowers, activities and the lines of business can provide better assessment of the quality of credit portfolio of a FI.The credit risk grading system is vital to take decisions both at the pre-sanction stage as well as post-sanction stage. Two- types of factors play vital role in modeling the CRG, they are, 1. Quantitative factors 2. Qualitative factors The chart is given in the following page; Quantitative Financial Ratios Loan Repayment performance Credit Ratings Expected Default Frequencies Qualitative Management Quality Tenure in Business Operations Industry/Niche At the pre-sanction stage, credit grading helps the sanctioning authority to decide whether to lend or not to lend, what should be the lending price, what should be the extent of exposure, what should be the appropriate credit facility, what are the various facilities, on the basis of the above factors.At the post-sanction stage, the FI can decide about the depth of the review or renewal, frequency of review, periodicity of the grading, and other precautions to be taken. Risk grading should be assigned at the inception of lending, and updated at least annually. 3. 3. 9 MANAGING PROBL EM CREDITS/RECOVERY A financial institution’s credit risk policy should clearly set out how problem credits are to be managed. The positioning of this responsibility in the credit department of an i nstitution may depend on the size and complexity of credit operations. It may form part of the credit monitoring section of the credit department or located as an independent unit, called the credit workout unit, within the department.Often it is more prudent and indeed preferable to segregate the workout activity from the area that originated the credit in order to achieve a more detached review of problem credits. The workout unit will follow all aspects of the problem credit, including rehabilitation of the borrower, restructuring of credit, monitoring the value of applicable collateral, scrutiny of legal documents, and dealing with receiver/manager until the recovery matters are finalized. Financial institutions will put in place systems to ensure that management is kept advised on a regular basis on all developments in the recovery process, may that emanate from the credit workout unit or other parts of the credit department.There should be clear evidence on file of the steps t hat have been taken by the financial institution in pursuing its claims against a delinquent customer, including any legal steps initiated to realize on the collateral. Where there is a delay in the liquidation of collateral or other credit recovery processes, the rationale should be properly documented and anticipated actions recorded, taking into account any revised plans submitted by the borrower. The accountability of individuals/committees who sanctioned the credit as well as those who subsequently monitored the credit should be revisited and responsibilities ascribed. Lessons learned from the post mortem should be duly recorded on file. 4. 0 Findings and Analysis — Credit Risk Management by IDLC Finance Ltd To perform the overall CRM process 3 departments are working together at IDLC Finance Ltd.As a leading NBFI in Bangladesh IDLC has always tried to maintain the quality they achieve through 24th year business tenure. These three departments are- Collection of Client i nformation and preparing Appraisal Report CRM Department After getting the approval from the respective authority Internal Control Internal and Compliance (ICC) do all the Control &documentation processes Compliance Collection of installment and managing the overdue rentals as well Special Asset as dealing with the client’s default is Management done by Special Asset Management (SAM) (SAM) * . 4. 1 PROCEDURAL WORK FLOW OF LEASE MARKETING At the initial stage, IDLC concentrated to establish a market and then enlarge the market.The criteria based on which the market for lease financing has been established are as follows: * Diversification of portfolio * Selecting top industrial unit in the respective industry * Financing for Balancing, Modernization, Replacement and Expansion (BMRE) of existing unit * Priority of existing leases * Set up priority based on sector wise performance Primary focus of IDLC till now is in the area of financial leasing of industrial and professional e quipment and vehicles for three to five years term with particular emphasis on BMRE of existing units. Instead of lending funds to purchase equipment, IDLC provides the equipment and extends the exclusive right to its use against specified rental payments at periodic intervals.There are two types of client for which the procedural work flow would be different though the basic part would be the same. The different types of clients are * Existing Clients – with whom IDLC has already been working * New Clients – with whom IDLC has no business yet The basic procedural work flow is given below: The above procedures are briefly described below: Collect Client & Loan data Compute Credit Risk on the basis of Risk Grade Preparing the appraisal report on the basis of risk Approval by the appropriate authority Documentation Lease/Loan payment collection Creating Provision for default Function of SAM Expiry of Agreement The client applies for required facility through letter. Thes e required facility can vary from different sort of equipments for BMRE to vehicles or expansion projects. The letter generally consists of brief description about the asset to be procured, its price and reason for procurement along with its lease period. * IDLC studies the proposal and sends an offer letter to the client. The offer letter contains acquisition cost, lease period, per month rental and other terms & conditions to be applied if the agreement is done. It is to be noted here that the offer letter is a mere offer and by no means an agreement between the two parties.Thus, the terms & conditions may change upon final agreement. However, it seldom changes as that will hamper the goodwill of the company. * The client accepts the offer and submits an accepted offer letter. If the client agrees to the terms & conditions of the offer letter, they sign & seal the offer letter as accepted and send it back to IDLC. * IDLC collects initial information about the client. The initial i nformation are * CIB Undertaking & Form XII (if a limited company) for that client to be sent to Bangladesh Bank for CIB Report of the applying client (as per rule of Bangladesh Bank) * IDLC looks for banks opinion for that client The designated Relationship Manager prepares the appraisal report and evaluated the client’s proposal. The appraisal report consists of * Background analysis of the company * Management and organization * Cost estimate of equipment/vehicle * Technical and marketing analysis, both from macro and micro level * Financial analysis of the company. i. e. profitability projection, credit report, year wise performance * The appraisal report seeks approval from the appropriate authority. First of all the Relationship Manager places the report to Credit Evaluation Committee (CEC), which consists of representative from Credit Risk Management, Operational Risk Management, General Manager and Deputy Managing Director.After CEC consent, the report is sent to appr oving authority. * After approval, the documentation process starts. A sanction ledger is prepared and a sanction letter is issued in the client’s name. However, depending on the nature of negotiation, the documentation procedure varies. * The client collects the asset. * Proper insurance coverage is done depending upon the asset and procurement of asset from a selected pool of insurance companies. * The lease operation starts i. e. a formal agreement is signed by both IDLC and lessee. The lessee starts to pay the rental and the lease continues. * Generally, just after the last rental is paid on a regular basis, the transfer of ownership takes place.Depending upon the negotiated transfer price at the beginning, IDLC transfers the asset’s ownership to the client and lease expires. However, the lease operation can also be expired early through partial termination or foreclosure. For new clients the following few steps are added: * Identification of client – the id entification of new client is done through relationship management. The main sources of information about new clients are: * Existing client * Word of Mouth * Internal Connection * Client call * Walk-in Client * Prepare extensive appraisal report and seek formal bank & FI opinion. The documentation procedure can differ depending upon the modes of acquisition of asset.According to the guideline provided by Bangladesh Bank, IDLC considers the following factors while appraising a client and its finance proposal: 1. Business Risk Factors: * Industry * Size * Maturity * Production * Distribution * Vulnerability * Competition * Demand- supply situation * Strategic importance for the group and for the country * Concentration * Market reputation 2. Financial Risk Factors: * Profitability * Liquidity * Debt management * Post Balance sheet events * Projections * Sensitivity Analysis * Peer Group Analysis * Other Bank Lines 3. Management Risk Factors: * Experience/relevant background * Track r ecord of management in see through economic cycles * Succession * Reputation 4. Structural Risk Factors: * Identify working capital requirement Relate the requirement with asset conversion cycle * Purpose of the facilities should be clear and thus mode of disbursement should be preferably structured in a manner to make direct payment to the third party through LC, pay order, Bangladesh Bank cheques etc. 5. Security Risk Factors: * Perishablilty * Enforceability /Legal structure * Forced Sale Value (calculations of force sale value should be at least guided by Bangladesh Bank guidelines) ————————————————- 4. 3 WEIGHTS ASSIGNED TO EACH RISK FACTOR CRITERIA WEIGHT | LEVERAGING 20% The ratio of a borrower’s total debt to tangible net worth. LIQUIDITY 20% The ratio of a borrower’s Current Assets to Current Liabilities. | PROFITABILITY 20% The ratio of a borrowerà ¢â‚¬â„¢s Operating Profit to Sales. | ACCOUNT CONDUCT 10% Time length of relationship with the client | BUSINESS OUTLOOK 10% A critical assessment of the medium term prospects of the borrower, taking into account the industry, market share and economic factors. | CRITERIA WEIGHT | MANAGEMENT 5% The quality of management based on the aggregate number of years that the Senior Management Team (top 5 executives) has been in the industry. PERSONAL DEPOSITS 5% The extent to which the bank maintains a personal banking relationship with the key business sponsors/principals. | AGE OF BUSINESS 5% The number of years the borrower has been engaged in the primary line of business. | SIZE OF BUSINESS 5% The size of the borrower’s business measured by the most recent year’s total sales. Preferably based on audited financial statements. | ————————————————- 4. 4 MEASURES TA KEN FOR RESTORATION OF DEFAULT CLIENTS The Special Asset Management Department of IDLC is responsible for mending and improving the repayment pattern of the default clients.Principal Objectives of the SAM department is keeping overdue situation at possible lowest level so that provision for dues can be minimized so that the negative impact of defaults on the reported profit of IDLC can be kept at minimum level. For this the department goes through the following procedures: 1. Monitoring the overdue situation of the financed projects 2. Initiating procedures as appropriate for each case Some clients fail to make payments of rentals/ installments to the lender/ lessor institution. In several cases, the failure is temporary, which is eventually paid within a short time. But in other cases, the client continues to default and the situation worsens since it deteriorates the profitability condition of IDLC, just like any other Financial Institution.So, critical measures are taken on the p art of IDLC and these measures are mainly undertaken by Special Asset Management Department. 4. 5 FUNCTIONS OF SPECIAL ASSET MANAGEMENT (SAM) The Special Asset Management Department performs a number of activities to keep the overdue situation of IDLC within minimum level. These are: 1. Overdue Monitoring- Corporate, SME, Syndication 2. Overdue follow Up- Corporate, SME, Syndication(Phone, Visit, letter) 3. SAM Client Follow Up- (Regular, Difficult, Block, Litigated)- Phone, Visit, Letter, Negotiation 4. Termination, Block & Litigation- Initialization, Follow up, Court Attendance 5. Appointment of Lawyers for different Legal Procedures 6.Recovery Agent Appointment & Follow up 7. Rescheduling- Negotiation, Approval, Follow up 8. Routine works: Receivable Calculation, Closure, Waiver Approval, Adjustments, Reconciliation. 9. Letter Issue- Overdue Clients SAM departmental Targets: 1. Collection of Overdue Rentals 2. Reduction of Non- performing Loans (NPL) 3. Reduction of Infection rat io 4. Bad/Loss Provision Management- Incremental Provision Control 4. 5. 1. RECOVERY ACTION PLAN BY SAM Special asset management takes various recovery actions to reduce the overdue amount, thus reducing the infection ratio. These actions differ on the basis of investment classification as follows; 4. 5. 1. 1 REGULAR ACCOUNTS (RGACC) Age of overdue: One to Three months * Call immediate ext working day after 1st default installment to remind about overdue. * Try to get specific commitments from client. Committed date should not exceed seven days. * In case of no response from client within seven days, call the client again in order to ascertain reasons for delay and obtain another specific