Understanding The Corporate Debt Market In India Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1378 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The Planning era began since 1951 and DFIs were increasingly encouraged to finance the project funding needs of the Indian corporate sector. The Government of India and RBI facilitated the concessional rates for corporate sector by giving the following to the DFIs: Access to low cost funds Permission to issue bonds with government guarantee Allocations from budget With the onset of economic reforms, the budgetary support and government guarantee to DFIs was withdrawn. The DFIs converted themselves into commercial banks to have access to the public deposit mechanism and served as source of long term finance to the Indian corporate sector. Don’t waste time! Our writers will create an original "Understanding The Corporate Debt Market In India Finance Essay" essay for you Create order Primary issuance market, in the corporate debt market, is dominated by non-banking finance companies and relatively small amount of funds are raised through issuance of debt papers by manufacturing and other service industries. The following are some of the different types of corporate debt securities issued: Non-Convertible Debentures Partly-Convertible Debentures/Fully-Convertible Debentures (convertible in to Equity Shares) Secured Premium Notes Debentures with Warrants Deep Discount Bonds PSU Bonds/Tax-Free Bonds The sections herein explain the following: Significance of a vibrant corporate bond market Prerequisites for the development of corporate debt market Reasons for under-development of the corporate bond market in India Significance of a well developed corporate bond market 1. Reduce dependence on banks for long term finance Due to regulatory constraints and absence of proper incentives to opt for corporate debt, the corporate sector in India prefers the banks as a source of long term finance. The East Asian crisis showed the pitfall of excessive reliance on bank financing. 2. Create a source of long term financing Developing countries like India will have opportunities for long term investments, especially in infrastructure projects. Banks, having short term liabilities, may not be able to continue and meet the growing needs of a developing country with long term financing requirements. A vibrant bond market gives access to such long term debt. The ability of raise funds has a long lasting effect of the growth of the economy of a country. Hence creating a more stable source of long term finance is crucial. 3. Cheaper source of finance Corporates with good credit rating lose out on the opportunity to raise funds directly from the market. As the corporate debt market develops and becomes liquid, the cost of raising funds will also reduce and also bring stability. Prerequisites Less complex regulatory framework for public issues The main deterrence to corporate in issuing debt securities to the public is the lengthy and rigorous procedure that entails it. Thus the regulatory framework needs to be simplified and made more conducive and issuer friendly to good credit rated companies. Reduction in time and cost of issuances The time required and the costs incurred in making public issues must be reduced to incentivise the corporate sector. Reduction of corporate sector dependence on banks The mindset of the Indian Corporate sector to depend on banks to finance their long term investment needs must change. Legal Structure There must a robust legal structure in place to encourage innovative financial products that would cater to various risk-return appetite of a diverse set of investors. Market Infrastructure The market must be made more conducive to the trading, reporting and settlement of trades in the corporate bond market. Transparency must brought in through efficient price discovery process. Presence of rating agencies Credible rating agencies must be present in the market to give information about the credit worthiness of the issuer and the debt securities Developed Government securities market The G-Sec market needs to be well-developed as the price and yield of corporate bonds are marked on the basis of the benchmark G-Sec prices and yields. Reasons for slow development of Indian corporate debt market Lengthy regulatory requirements and disclosures The regulatory requirements for public issues were rigorous in terms of quality and type of disclosures Utilization of funds The utilization of funds raised through public debt securities was required approval and was mandatorily needed to be disclosed to the retail investors. Minimum Investment Grade Bonds had to have a certain minimum investment grade for it to be issued in the primary market. Those below this minimum investment grade were not allowed to be issued to the public. This clause was removed as per circular to amend the DIP (Disclosure and Investor Protection) Guidelines, 2000. Risks Involved The offer document must contain the issueracirc;â‚ ¬Ã¢â€ž ¢s perception of risk on matters such as assets and debtors, dilution risk (changes in credit quality of pool of assets), currency, interest and other risks. Disclosures Disclosures regarding the public offer, the debt instruments, the issuer, the originator, the servicer, the Trustees, the transaction structure and cash flows. The rigorous norms that have to be followed for issuing bonds make this process lengthy and burdensome process as compared to raising funds from the banks or other institutions or through private placement option Listing of debt securities Filing on stock exchanges: The firm needs to make an application to one or more recognized stock exchanges for listing of their debt securities. Draft offer documents: The firm needs to file draft offer documents with the designated stock exchange and have it posted on the websites (if any) of the company, lead merchant banker and the designated stock exchanges. Excessive dependence on bank loans and private placement The Corporate prefers bank loans to finance its long term investment needs to issuing debt securities in the primary market. Also, they can raise funds in the primary market through public issue of bonds or through the private placement route. The Indian corporate sector still prefers private placement as the firms find issuance of public debt securities is a lengthy and rigorous task. Also, the cost of issuance exceeds the cost of private placement. Another factor is that more funds can be raised through the private placement route. Non-transparency The corporate bond market was non-transparent as there was no system to enable efficient price discovery and allow comparison of prices quoted by seller and strike the best deals. Non-availability of information Till 2007, there was no information available on the trading activities in the corporate debt market. To improve this, SEBI, in 2007, permitted BSE and NSE to set up reporting as well as trading platforms to get real time information of trade volume, trading prices and other trading activity related data. Trading on OTC market could be reported through the reporting tool of NSE or BSE. Issuance costs Advertisements The public issue needs to be accompanied by advertisements in a national daily with wide circulation informing the public about the issue and giving truthful information. Credit Rating Earlier, bond issuers had to obtain rating from two separate credit rating agencies increasing the cost of issuances. This clause has been amended since 2007 to obtain rating from just one rating agency. Minimum Subscription The issuer may decide on a minimum amount of debt it seeks to raise from the public and it must be mentioned in the offer document. In the event of non-receipt of the minimum subscription, the money needs to be refunded to the applicants. Thus all costs involved for issuance like merchant banker charges, advertisement costs will have to be incurred with no result. Dematerialization of instruments Also, the issuer has to enter into an arrangement with a registered depository for dematerialization of the securitized debt instruments that are proposed to be issued to the public. Auditing expenses An auditor and a valuer may be appointed to look into the books of accounts of the entity and for proper valuation of asset pools. The expenses of such an audit may be borne by the originator. Fees Application fees, registration fees, annual fees, filing fees for offer documents. Settlement and Clearing System There was no settlement and clearing system in place for the corporate bonds. The settlement on BSE is done on a rolling basis using BOLT (BSE Online Trading) whereas NSE uses its NSCCL (National Securities Clearing Corp. Ltd) platform to settle corporate bonds trades. However, majority of the transaction is in the OTC market with bilateral settlement. Investor diversity Most of the investors do not have a long term view in mind. The household which could form a major part of the investor base is practically absent in the corporate debt market in India.

Health Care Degree Opportunities 2019

The past twenty years have ushered dramatic changes in health care. Technological advancements have significantly increased the types of medical exams and treatments that are at the disposal of physicians. The development of managed health care has also altered traditional medical practices. For instance, the invention of numerous types of scanning equipment has changed the field of radiography. This new series of equipment calls for people who can operate them. As a result of new lab technology, there are a number of new specializations for lab technicians. Because of the financial issues created by the power of the insurance industry, along with the persistent problem of insufficient nursing staffs, positions such as a nurse or a medical assistant have become absolutely essential. The job requirements of a medical assistant include a vast variety of tasks and responsibilities, depending on where the position is held. These responsibilities can range from being a helping hand to a doctor, or handling certain recorded activities with patients. .u4dda764adc6d7e6bb86a9581f417daa8 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u4dda764adc6d7e6bb86a9581f417daa8:active, .u4dda764adc6d7e6bb86a9581f417daa8:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u4dda764adc6d7e6bb86a9581f417daa8 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u4dda764adc6d7e6bb86a9581f417daa8 .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .u4dda764adc6d7e6bb86a9581f417daa8 .post Title { color:#000000; text-decoration: underline!important; font-size: 16px; } .u4dda764adc6d7e6bb86a9581f417daa8:hover .postTitle { text-decoration: underline!important; } READ An Executive MBA Is The Leadership DegreeAll of these careers have some sort of degree program available. A position like nursing requires a great deal of study that not will necessarily earn a bachelors degree. Other jobs require a certain group of classes along with an exam and certification. The state department of health normally regulates the standards for positions that require certification. You can check with your state department of health about such a position to find out what the requirements are exactly. There are a number of college degrees available in the health care field, including nursing, and a host of health care management or administration careers. Many online colleges provide three degree levels, bachelors, masters and doctorate, in the area of health administration. These include Warren National University, University of Phoenix, and Kaplan University, which also offers a program that enables registered nurses to obtain a bachelors degree. The University of Phoenix Online offer a variety of specializations including health care education, integrative health care, and a nursing combined with a masters in health administration (double major) and a masters in nursing combined with an MBA which has a specialty in health care management (also a double major). .u253750be3351ab810beceb2ccb335158 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u253750be3351ab810beceb2ccb335158:active, .u253750be3351ab810beceb2ccb335158:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; text-decoration:none; } .u253750be3351ab810beceb2ccb335158 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u253750be3351ab810beceb2ccb335158 .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .u253750be3351ab810beceb2ccb335158 .post Title { color:#000000; text-decoration: underline!important; font-size: 16px; } .u253750be3351ab810beceb2ccb335158:hover .postTitle { text-decoration: underline!important; } READ Nonprofit Jobs Training to be a Manager of VolunteersThere is a degree program provided by the Florida Metropolitan University for Assisted Living Administration. Due to our maturing population, assisted living has become a growing health care specialization. There is a number of assisted living facilities that need trained individuals. Florida Metropolitan University also has a bachelors degree program for health administration. Not all programs are offered online, but there are some health care degree programs offered on campus. The health care industry is a rapidly growing field, and many people are choosing to go back to school to take advantage of this opportunity. It is a great choice for an initial career, or a career change. Related ArticlesStudent Health Care Plans for School NursesChoosing a Good Health Care PlanDeveloping School Health Care PlansHealth Care Administration CareersBachelor Degree in Nursing Online Nephrology Nurses Attend to the Complex Needs of Patients with Kidney DiseaseBachelor Degree Nursing Online Program Forensic Corrections Nurses Provide Needed Treatment to Inmates .u9ce22b7244f95779435835895f3c0c57 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:#eaeaea; border:0!important; border-left:4px solid #34495E!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u9ce22b7244f95779435835895f3c0c57:active, .u9ce22b7244f95779435835895f3c0c57:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; te xt-decoration:none; } .u9ce22b7244f95779435835895f3c0c57 { transition: background-color 250ms; webkit-transition: background-color 250ms; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; } .u9ce22b7244f95779435835895f3c0c57 .ctaText { font-weight:bold; color:inherit; text-decoration:none; font-size: 16px; } .u9ce22b7244f95779435835895f3c0c57 .postTitle { color:#000000; text-decoration: underline!important; font-size: 16px; } .u9ce22b7244f95779435835895f3c0c57:hover .postTitle { text-decoration: underline!important; } READ Creating Alternative-Fuel Vehicles is High on the Priority List for Environmental Engineers

Analysis Of Brave New World - 1732 Words

While in some extreme situations it can be useful to gain some semblance of unity and organization, totalitarian societies damage one s individuality and feeling of self-worth; defining people without ever allowing them to make their own decisions. This can potentially cause one to feel ousted or distress. Totalitarianism creates no outlet for personal growth, and as seen in Brave New World. Totalitarian societies strip people of their basic human right, free will. Totalitarian governments impair the success of individuals, ultimately failing society. Totalitarian societies damage one’s individuality and feeling of self-worth. In Brave New World, we see that for some characters there is no healthy concept of self-esteem or worth present. Psychologist consider healthy self-esteem as â€Å"recognizing your own self-worth, believing in your abilities, knowing yourself well enough to stand up for what you believe in, and being strong when you feel challenged† (Shankman 93). Lenina Crowne is one of the main female characters; she works at the hatchery and is a citizen of the World State. Lenina has proven multiple times that she has no concept of what it means to feel as though she deserves to make her own choices. Lenina’s sense of self-worth comes from the caste system that the World State has created. She chastises the castes that are below her, finding her self-worth in something that she has had no control in choosing, her caste (which we are never told). â€Å"My word,† saidShow MoreRelatedAnalysis Of Brave New World 970 Words   |  4 PagesManeth Chan The characters in Brave New World are all conditioned in their ways. Even John himself has been conditioned. Brave New World is set in a future London after horrible wars, the aftermath of which leads the government to condition everyone and everything. Bernard Marx, Helmholtz Watson, and Lenina Crowne have all been conditioned from the time they were in the tube to their current everyday lives. Conditioning never really stops; it just takes different forms. John how was raised byRead MoreBrave New World Analysis1257 Words   |  6 Pages In Brave New World, the author Aldous Huxley predicts a future, like no other, where truth is trumped by happiness. The people in the World State are ignorant of the truth. They mistake the truth as happiness. This ignorance leads them to believe that a tablet called soma is used â€Å"to calm your anger, to reconcile you to your enemies, to make you patient† (Huxley 213). Through drugs and conditioning, the government has kept the Worl d State uninformed of the truth. Being controlled by the governmentRead MoreAnalysis Of Brave New World 1131 Words   |  5 Pagesalways off the mark. We wish to remain true to ourselves, but who gets to decide who we are as people? When our image never goes hand-in-hand with reality, where can we find something unique? 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The novel argues that the most powerful totalitarian state would be one that doesn t overwhelm and frighten its citizens, but instead manages to convince its citizens to love their slavery. In the novel, the Director uses that the Bokanovsky Process to help social stability because the clones (humans) it produces are made to do thingsRead MoreBrave New World Critical Analysis755 Words   |  4 PagesMiriam Flagg AP Literature and Composition Aug. 29, 2017 Analysis of â€Å"Brave New World† Brave New World is a novel by Aldous Huxley. It takes place in the dystopian future where people are grown in batches and no one is given birth to. From there, they are conditioned to be perfect citizens in what is now considered a perfect civilization. Because of the way this society is, there is almost no room for outsiders. Those who don’t cooperate with society are exiled to an island. However, this isn’tRead MoreBrave New World Literary Analysis1449 Words   |  6 PagesIn the novel, Brave New World, written by Aldous Huxley, the author uses many literary elements to explore the issue of humans being dictated into a new world and different society in which they are taught that immoral and wrong things that are not okay in today’s society are praised upon in this new society. Huxley uses many different themes and literary elements throughout this novel to explore the many issues happening during this time of society. Throughout the novel Huxley uses a theme of brainwashingRead MoreAnalysis Of The Book Brave New World 1213 Words   |  5 PagesBrave New World-Book Chart Title Significance The author chose the title ‘Brave New World’ because it is a reference to what John had read in a book. Like the character in the book, John believes he will enjoy this new world and will finally fit in somewhere, but it’s when he gets there that he realizes that the new world is restricting him from being himself. Also, I think the book is called ‘Brave New World’ because it relates to plot when John is leaving the reservation where he is not respectedRead MoreBrave New World Idiocracy Analysis849 Words   |  4 Pagescomparing Aldous Huxley’s Brave New World to Mike Judge’s Idiocracy. Both manifest a problem of their society through the use of satire. Satire is a method of ridiculing a problem to people to prompt them to protest for change. Although Brave New World’s universe is a polar opposite of Idiocracy and their satirical plots effectively evoke denunciation of problems, Idiocracy more persuasively expresses their overarc hing satirical message. Aldous Huxley’s Brave New World is conveying the problem of

Analysis of Koppelmans Arguement in Support of Same Sex...

In the past few decades, the question of allowing for same-sex marriage is a recurring topic of controversy. In the houses of same-sex couples, the need for equal rights is of great importance. Currently, many states ban the marriage of same-sex couples and do not view a marriage between same-sex couples as an official marriage. These states quote the Constitutional definition of marriage as a union between a man and a woman. Therefore, with this definition, the marriage of a man and a man or a woman and a woman is unconstitutional. As of the issue date of this article, the Supreme Court had not made a national decision on same-sex marriage and the benefits entitled to that marriage. This CQ Researcher journal focuses on the topic of†¦show more content†¦Same-sex marriage defies these complex ideals. For same-sex couples, the need for a shotgun wedding is superfluous, as there are no instances of an unplanned pregnancy among same-sex couples. The delay in the procreation of same-sex couples promotes the couple to be more educated when they desire to have children. This produces a new method in which children’s needs are met. The family is more financially stable than a family of an unplanned pregnancy. This new model separates sex from reproduction; therefore, it is not threatened by sex that is not for procreation. Koppelman even questions whether the old traditional model is feasible in contemporary America. An analysis of the argument proposed by Koppelman proves to show both strengths and weaknesses in his argument. The strength in his argument is that the claim he makes is obvious, and his reasons for defending his claim are visibly stated. He states, â€Å"The claim that legalizing same-sex marriage will hurt traditional marriage is puzzling†¦ In states with legalized same-sex marriage, there has been no discernible effect on other marriages.† The behaviors of same-sex couples should not affect the behavior of heterosexual coup les. When analyzing reasons provided by Koppelman, one could note the reasons stated are all relevant to his thesis explaining the reasons why gay marriage does not effect on other marriages. When analyzing his reasons for propaganda, one will notice his use of propaganda to persuade the

Operations and Process Management †Myassignmenthelp.com

Question: Discuss that the managers of the company, can always learn something from the operations and process management. Answer: Thesis statement The statement discusses that the managers of the company, can always learn something from the operations and process management. The subject discusses about the operation in the management beyond industry and processes. Cisco Systems, Inc. is the largest networking company in the world (Slack, 2012). This American multinational corporation technology company specialises in designing, manufacturing and selling network equipments all over the world. Being the Project Manager of the service department in Cisco Systems, it is important to study operations and process management irrespective which department you work for. Operations management mostly consists of planning, organising as well as supervising in the context of manufacturing and production or the terms of services. It mainly focuses on delivery so that the organisation runs properly and the output it creates is optimised. The inputs are technology, equipment, human resources and materials (Slack, 2012). Compared to some, it is easier to understand the operations functions of few organisations like the automobile industries (Slack, 2012).Any organisation that produces any sort of services or products has operations. They also require gaining profit from producing such services and products. Cisco Systems aims at the same from its operation activities. Operations management is necessary for large and small organisations. This is because no matter what their size is, they produce services and products and deliver them efficiently to the customers. Large organisations have higher amount of resources, which the smaller organisations lack, and this means higher degree of manipulation required to meet the requirements. The smaller organisations on the other side can easily adapt to the changing needs of the customers and environmental situations as they have informal structures. Decision-making becomes comparatively difficult as smaller number of people have Operations management is necess ary in non-profit organisations like hospitals, government departments, welfare charities, many more (Krajewski et al., 2013). Like the commercial organisations, the non-profit organisations need to make similar decisions regarding performance measures, investment in technologies, many more. It is more complex because it involves the environmental, political, social and economical angles. Operations management deals with various duties. One of the key functions of operations management is designing. It includes product development, how and when the product be sold in the market. It is also related to the expectations of the customers in the present market and the ultimate product design. Using information systems to monitor these factors are also very important. Planning is another function, it can be explained as how the management plans to utilise the available resources to deal with the present situations. It helps the organisations to adapt to the various environmental situations, like the change in demand. As the term already mentions management, operations management consists of managing to achieve successful operations. They do it through encouraging the employees which has positive effects of performance and is generated through culture, training and leadership. Coordination is very important and it deals with the method of interrelating with the various parts of the work together. It is the coordinating present between the various responsibilities and roles of the staff and the operational team. They make the organisations able to compete because they have the ability to respond to the customer by changing their capabilities. This keeps them ahead of competitors. According to Brandon et al., (2012), five basic factors can be evaluated to understand how the firm or the organisation is performing. First, cost of production should be low. Second, there should be no compromise with the quality. Third, the organisation must have speedy response to the changes that occur in the environment. Fourth, the organisation should have characters of dependability so that the customers can depend on them for delivery of services and products. Lastly, the organisation should be flexible enough to adapt to the changes. All the factors are necessary to function properly in the operations, The function also requires a good process design. Some of the factors that influence design are fit for the purpose, choice of materials needed, finishing of the products or services, durability, maintenance, efficiency and consumer demands and following latest fashion trends. The first factor is fit for the purpose that deals with the products and services which will be meeting the particular demands of the customers without failure. The second factor is choice of materials needed, which describes that the design should clarify to the use of the product and the cost along with the quantity that needs to be produced. The third factor is finishing, which is related closely with the kinds of materials used in production. The fourth factor describes the durability, which depends on the market cost of the product, the specific use and the planned obsolescence of the product in due time. The fifth factor is maintenance. Maintenance needs of any products or services should not be over looked. It must be easy for the consumers. The last factor is efficiency that is directly related to the quality of the product. With higher quality, the product will be highly efficient. Consumer demands and following latest fashion trends: The products and services should be appropriate for the latest trends and customer demands. Cisco Services uses the operations management and helps to cut down the operational expenses of Cisco IT. They also helped in accelerating technology adoption and improving network performances. In addition, Cisco IT has lowered the total cost of ownership. In the last five years, the company has faced such problems, which has stumbled in the major growth of the company. As a result, the operation cost has also become high. The challenges were deploying an IT budget and investments of the company. The company also faced problems in the strategic plans, lower TCO, improve operational efficiency and create support for increasing business demands. The solution consisted of a proactive approach for operations in IT. Cisco service provides the necessary guidance on optimisation, design, operations and operations and Cisco Network Optimisation service (NOS). Application of the above-mentioned approach and services resulted in a faster and cost effective way of resolving the support issues in Cisco IT. The delivery time was reduced to an hour. They achieved six-fold degrees in hours spent in support issues (quarterly). A major 30% reduction was achieved in the presence of critical issues of Cisco network (Senz and Revilla, 2013). Operations management requires proper skills and knowledge with respect to when and which techniques to apply in order reach the desired results. It is clear from the thesis that operations management deals with all the processes, which are necessary for carrying out the essential operations of any company or business. The main two processes of any organisation are selling services and products. Thus, it includes functions of the operations to optimise situations and resources for production of quality services and products. It requires constant analysis and look out for new opportunities for betterment of the company. A strong overlapping is often expected between the areas of engineering, supply chain management and logistics. It can be safely said that there are various industries where the effective managerial skills of the operations managers are responsible for the companys successes. References: Brandon-Jones, A., Piercy, N. and Slack, N. (2012). Bringing teaching to life: Exploring innovative approaches to operations management education. International Journal of Operations Production Management, 32(12), pp.1369-1374. Brown, S., Bessant, J.R. and Lamming, R. (2013). Strategic operations management. Routledge. Chase, J. (2012). Operations management. Tata McGraw-Hill. Khanna, R.B. (2015). Production and operations management. PHI Learning Pvt. Ltd.. Krajewski, L.J., Ritzman, L.P. and Malhotra, M.K. (2013). Operations management: processes and supply chains. New York: Pearson. Mishan, E.J. (2015). Elements of Cost-Benefit Analysis (Routledge Revivals). Routledge. Senz, M.J. and Revilla, E. (2013). Cisco Systems, Inc.: Supply chain risk management. The Supply Chain Management Casebook: Comprehensive Coverage and Best Practices in SCM, 80. Slack, N. (2012). Operations and process management. Harlow: Pearson.

British Royal Ceremonies free essay sample

. Accomplished by: Lebedeva Ekaterina Novgorod State University. The Department of Foreign Languages. Veliky Novgorod 2001 Introduction. British people are proud of pageants and ceremonials of the national capital # 8211 ; London. Many of them are universe celebrated and attract legion tourers from all over the universe. They include day-to-day ceremonials and annuals. Changing of the Guard at Buckingham Palace at 11.30 a. m. , Ceremony of the Keys at 10 p. m. in the Tower, Mounting the Guard at the Horse Guards square are most popular day-to-day ceremonials. Of those which are held yearly the oldest are the most precious are: the glorious pageantry of Parading the Color, which marks the official birthday of the Queen ( the second Saturday in June ) ; Open firing the Royal Salute to tag day of remembrances of the Queen # 8217 ; s Accession on February 6 and her birthday on April 21 ; gap of the Courts taging the start of the Legal Year in October ; and Lord Mayor # 8217 ; s Show on the 2nd Saturday in November, when the freshly elected Lord Mayor is driven in the beautiful guilded manager pulled by six white Equus caballuss to take the Royal Court of Justice where he takes his curse of office and becomes 2nd in importance in the City merely to the Sovereign ( Queen ) . Parading the colour. Parading the colour is one of the most brilliant military ceremonials in Britain and possibly in the universe. It is held yearly on the reigning sovereign # 8217 ; s # 8220 ; official # 8221 ; birthday, which is the 2nd Saturday in June. Queen Elizabeth II is Colonel # 8211 ; in # 8211 ; Chief of the Household Division of five regiments of pes Guards and two regiments of Mounted Guards. The Parading Markss the official birthday of the Queen and each twelvemonth the colour ( flag ) of one of the five regiments of Foot Guards is displayed to the music of massed sets. The ceremonial stemmed from the demand of soldiers to acknowledge the colourss of their regiment in conflict. The Parade is complex and precise and all seven regiments of the Household division take portion, but merely one colour is trooped each twelvemonth. Wearing the uniform of one of these regiments the Queen leaves Buckingham Palace and rides down the Promenade to the Horse Guards Parade accompanied by the crowned head # 8217 ; s Mounted Escort from the two Household Cavalry Units # 8211 ; the Life Guards have oning vermilion adventitias with white plumes in their helmets and the Blues and Royals in bluish adventitias with ruddy Plumes. Precisely as the clock on the Horse Guards Building strikes 11, the Queen takes the Royal Salute. After inspecting her military personnels, the crowned head watches a show of processing to the melody of massed sets before the solemn minute when the Color is trooped by being carried along the inactive ranks of guardsmen lined up to expect the Queen. The Color is so # 8220 ; trooped # 8221 ; or expose before her. Afterwards, she returns to the Palace at the caput of the Guards deputed to mount the Palace Guard. Royal Family appear on the balcony of Buckingham Palace to admit the fly-past of the Royal Air Forces at 1 p. m. Merely one Color is # 8220 ; trooped # 8221 ; yearly, that of each regiment in rigorous rotary motion. Originally it was called # 8220 ; lodging # 8221 ; the Color: each regiment # 8217 ; s ain Color being laid up, to music known as a # 8220 ; Troop # 8221 ; . The five regiments of Foot Guards can be identified by the plumes in their caps or bearskins, and by the spacing of the buttons on their adventitias. The Grenadier Guards have white plumes and equally spaced buttons: the Coldstreams, ruddy plumes and buttons in braces: the Scots Guards, no plumes and buttons in 3s: the Irish Guards, bluish plumes and buttons in 4s: the Welsh Guards, white # 8211 ; and # 8211 ; green plumes and buttons in fives. The Guards have been transporting out their responsibility of guarding the crowned head since 1660 ( the clip of the Restoration of Monarchy ) . Changing the Guard. The dramatic ceremonial of Changing the Guard at Buckingham Palace attracts legion witnesss from the state and tourers from different parts of the universe. The Guard is changed at 11.30 ante meridiem daily. It is formed from one of the regiments of Foot Guards. A set leads the new guard from Wellington or Chelsea barracks to the castle forecourt and after the ceremonial it leads the old guard back to their barracks. The history of the Foot Guards goes back to 1656, when Charles II of England, during his expatriate in Holland, recruited a little body-guard, which was merged in the regiment of guards enrolled at the Restoration in 1660. On St. Valentine # 8217 ; s Day, 1661, on Tower Hill, what had been the Lord General # 8217 ; s Regiment of Foot Guards, formed by Oliver Cromwell in 1650, took its weaponries as an # 8220 ; extraordinary guard # 8221 ; for the Sovereign. Having marched from Coldstream, near Berwick # 8211 ; upon # 8211 ; Tweed, it acquired the rubric of the Coldstream Guards. Its slogan of nulli secundus sufficiently denoted its denial of precedency to the first Guards. The latter acquired their rubric of Grenadier Guards and their bearskin headgear # 8211 ; subsequently adopted by the remainder of the Guards brigade # 8211 ; by virtuousness of their licking of Napoleon # 8217 ; s grenadier guards at Waterloo. In 1661 the Scots Fusilier Guards became known for the first clip as the Scots Guards. In 1707 they were put on the same terms as the other two Guards regiments. In 1900 Queen Victoria, pleased with the contending quality of the Irish regiments in the South African War, commanded the formation of the Irish Guards. In 1915 the representation nature of the brigade was rounded off by the formation of the Welsh Guards. The Brigade of Guards serves as a personal escort to the Sovereign. When the Queen is in abode at Buckingham Palace, there is a guard of four lookouts. Merely two are on responsibility when she is off from London. When the Queen is in abode at Windsor Castle, another Changing the Guard ceremonial takes topographic point in the Quadrangle there at 10 a. m. daily. Mounting the Guard. Mounted Guard takes portion in another colorful ceremonial which is held at 11 a. m. on weekdays and 10 a. m. on Lords daies at the Horse Guards, a square confronting Whitehall. The entryway to the Horse Guards is guarded by two mounted cavalrymans who are at their stations daily from 10 a. m. to 4 p. m. The guard is formed by units of the Household Cavalry ( Mounted Guard ) # 8211 ; the Life Guards and the Royals ( the Blues and Royals ) . When the Queen is in London, an officer, a corporal of Equus caballus, 16 cavalrymans and a cornetist on a gray Equus caballus take portion in the ceremonial. The Royals can be identified by the ruddy plumes on their helmets and by their bluish uniforms. The Life Guards wear white plumes and ruddy adventitias. The Ceremony of the Keys. Every dark at 9.53 p. m. the Chief Warder of the Yeomen Warders ( Beefeaters ) of the Tower of London visible radiations a candle lantern and so makes his manner towards the Bloody Tower. In the Archway his Escort expect his reaching. The Chief Warder, transporting the keys, so moves off with his Bodyguard to the West Gate, which he locks, while the Escort # 8220 ; present weaponries # 8221 ; . Then the Middle and Byward are locked. The party so returns to t he Bloody Tower Archway, and at that place they are halted by the challenge of the lookout. â€Å"Halt! † he commands. â€Å"Who goes at that place? † The Chief Warder replies, â€Å"The keys† . The lookout demands, â€Å"Whose keys? † â€Å"Queen Elizabeth’s keys† , replies the Chief Warder. â€Å"Advance, Queen Elizabeth’s keys ; all’s well† , commands the lookout. Having received permission to continue through the Archway, the party so organize up confronting the Main guard of the Tower. The order is given by the officer in # 8211 ; charge to # 8220 ; Present Arms # 8221 ; . The Chief Warder doffs his Tudor # 8211 ; manner bonnet and calls, # 8220 ; God preserve Queen Elizabeth # 8221 ; . # 8220 ; Amen # 8221 ; , reply the Guard and Escort. At 10 p. m. the bugler sounds the # 8220 ; Last Post # 8221 ; ( signal to return ) . The Chief Warder returns to the Queen # 8217 ; s House, where the keys are given into the detention of the Resident Governor and Major. The Ceremony of the Keys dates back 700 old ages and has taken topographic point every dark during that period, even during the blitz of London in the last war. On one peculiar dark, April 16, 1941, bomb blast disrupted the ceremonial, strike harding out members of the Escort and Yeomen Warders. Despite this, the responsibility was completed. Merely a limited figure of visitants are admitted to the ceremonial each dark. Application to see it must be made at least 40 # 8211 ; eight hours in progress at the Constable # 8217 ; s office in the Tower. Visitors with the permission are admitted at 9.40 p. m. and leave at 10 p. m. The Lord Mayor # 8217 ; s show. The glorious civic event known as the Lord Mayor # 8217 ; s show is watched by many 1000s of people, who throng the streets of the City of London to see this interesting emanation and look up to its glistening pageantry. The ceremonial is the gesture of pride in the City # 8217 ; s history and strength as a universe commercial Centre. The ceremonial seems still more bright and colourful because it is ever held on the 2nd Saturday in November when the metropolis is frequently wrapped in mist or rain. Its beginning day of the months back more than six hundred old ages, when it began as a waterborne emanation with flowery flatboats sailing down the river Thames. Dressed in his pelt # 8211 ; trimmed vermilion gown, a # 8220 ; Cap Dignity # 8221 ; , and have oning the great 5 pess long gold concatenation of office the freshly elected Lord Mayor foremost watches a cavalcade of adorned floats pass by his base at his official abode, the Mansion House. Then he steps into his aureate State Coach and takes up his place of honor at the rear of the emanation. Accompanied by the Pikemen in their half # 8211 ; armour the Lord Mayor is driven in his Aureate manager from Guildhall, past St. Paul # 8217 ; s Cathedral, down Fleet street to the Royal Court of Justice, where he takes his curse of office before the Lord Chief Justice. The tradition of taking curse ( # 8220 ; declaration # 8221 ; ) originated in 1230 during the reign of Henry III and the concluding declaration was made before t he Barons of the Exchequer. The Lord Mayor # 8217 ; s manager, weighing 4 dozenss and pulled by six Equus caballuss was built in 1757 and was painted by the celebrated Florentine painter Giovanni Cipriani. A organic structure guard of Pikemen and Musketeers march beside the manager. Many people in the emanation wear traditional historic costumes. Each twelvemonth a subject associating to London life or history is chosen and floats decorated with tableaux on this subject precede the Lord Mayor # 8217 ; s manager. The Lord Mayor who is besides the City # 8217 ; s Chief Magistrate, is selected by the liverymen of the City Companies ( clubs ) . One of the most distinguished of London # 8217 ; s Lord Mayors was Dick Whittington ( 1423 ) who held office four times. After the curse has been taken, the full emanation returns via Victoria Embankment to the original point of going. On the following Monday flushing the Lord Mayer gives a glorious Inaugural feast at Guildhall. This has two traditions # 8211 ; a first class of turtle soup and address from the Prime curate. This glistening juncture is attended by many of the most outstanding people in the state and is normally televised. The Prime Minister delivers a major political address and the toast of the hosts on behalf of the pursuits is proposed by the Archbishop of Canterbury. Half the cost of the Show and Banquet is paid by the Mayor and the other half is met by the two Sheriffs. One can conceive of how high the costs are but a Lord Mayor respects such fiscal forfeits as worth while because of the prestigiousness, since in his twelvemonth of office he is 2nd in importance in the City merely to the Sovereign. The official abode of the Lord Mayor in Mansion House, which was designed in Palladian manner in the eighteenth century, but has been altered since. The Guildhall, dating from the fifteenth century is the topographic point where the Lord Mayor, Alderman and the City male parents conduct the City # 8217 ; s personal businesss. Important feasts and ceremonial occasions are held at that place. The City has non merely its ain Mayor, but besides its ain authorities and its ain constabulary force. Even the crowned head ( Queen ) has to halt at the City # 8217 ; s frontiers until the Lord Mayor allows entree. Remembrance Day. ( Poppy Day ) Remembrance Day is observed throughout Britain in memorialization of the million or more British soldiers and aviators who lost their lives during the two World Wars. On that twenty-four hours, the 2nd Sunday in November, particular services are held in the churches and garlands are laid at war commemorations throughout the state and at London # 8217 ; s Cenotaph, where a great figure of people gather to detect the two # 8211 ; minute silence and to execute the one-year Remembrance Day ceremonial. The silence begins at the first shot of Big Ben 11 o # 8217 ; clock, and is broken merely by the clang of distant heavy weapon and possibly by the mutter of a passing jet. Members of the Royal Family or their representatives and political leaders come frontward to put garlands at the pes of the Cenotaph. Then comes the March past the commemoration of veterans and adult females, followed by an eternal line of ordinary citizens who have come here with their personal garlands and their sad memories. On that twenty-four hours unreal poppies, a symbol of bereavement, are traditionally sold in the streets everyplace, and people wear them in their button holes. The money collected in this manner is subsequently used to assist the work forces who had been crippled during the war and their dependents. In the past the twenty-four hours was known as Armistice Day and was marked on the 11 of November, as that was the twenty-four hours when cease-fire ( understanding to halt military actions ) sought by German from Allies, came into force in 1918. Armistice Day was kept since 1919 # 8211 ; 1938. Two proceedingss silence was observed throughout the British Commonwealth get downing at 11 a. m. the ceremonial lapsed during the 2nd World War, but was resumed in 1945. The undermentioned twelvemonth it was decided to detect a Remembrance Day for both World Wars. It was to be held yearly on Remembrance Sunday ( the 2nd Sunday in November ) . The most brilliant ceremonial is held at the Cenotaph in London, a memorial to those who died during the two universe wars. On Remembrance Day the ceremonial is attended by the Queen and royal household, solons and politicians, representatives of the armed forces and Commonwealth. # 1057 ; # 1087 ; # 1080 ; # 1089 ; # 1086 ; # 1082 ; # 1083 ; # 1080 ; # 1090 ; # 1077 ; # 1088 ; # 1072 ; # 1090 ; # 1091 ; # 1088 ; # 1099 ; N. M. Nesterova # 8220 ; Regional Geography orarea surveies # 8221 ; T. Khimunina, N. Konon, L. Walshe # 8220 ; Customs, Traditions and Festivals of Great Britain # 8221 ;