The Giver Essay Example | Topics and Well Written Essays - 1500 words

The Giver - Essay Example When there is no creativity , when there is no love and even joy seems programmed, these might as well be ants in a ant hill. Even ants are ordered, systematic and conforming. But what makes human beings different from other animals is that we are individuals and it is our innate tendency to be our own self , not a clone of anybody else. A community like Jonas’s would be suffocating to most people who have seen or known what it is like to be human. Are there communities like the one in the book in the modern day world? Indeed there are. China, North Korea, Iran all of have such societies to a varying degree. But just like in the book , the only way these societies are able to keep a grip on people is by restricting their freedom and keeping control over the information which is available to these people. Indeed there was and is little crime in such communities and nobody ever starves. But that is true even for a prison , but human beings are not meant to be caged. The free societies have their problems. Crime, populism perhaps even decline in morals. But however imperfect and chaotic that might be, those are the systems in which Human beings thrive and prosper. Since the fall of the Soviet Union , there has been a return , at least in a little way to the old iron rule in Russia. This , many say is evidence that people want stability and protection. People do want stability and protection . This is true , even in the bastions of freedom in U.S and other democracies. But this stability and protection is not wanted at the cost of freedom. You just have to see what happens when conformity is forced on people who have already enjoyed freedom and individuality , like Prohibition in the U.S. or Emergency in India. It is simply not possible. There is an old saying which states that those who don’t know history are condemned to repeat it. Pain and suffering while uncomfortable and horrifying are extremely important. They tell us what consequences

Strategic management Essay Example | Topics and Well Written Essays - 3000 words - 1

Strategic management - Essay Example New York Times has identified that Zara has the capacity to replenish stocks twice a week (Lutz, 2012). What Zara Really Do Zara has crafted their value chain in a demand flexible manner with an intention of enhancing forward and backward integration in the operation (Lancaster and Massingham, 2010, p. 195). The company has implemented integration in various value chain activities such as managing lead time, stock replenishment, incorporating latest fashion in designing and raw material tracking with an intention of achieving sustainable business growth. The company has decreased steps of value chain in order to decrease total turnaround times. More than two hundreds fashion professionals supervise the product designing phase in order to offer customer superior quality cloths and decrease probability of getting outdated in contrast to latest fashion trend. Zara emphasizes on establishing stable relationship with value chain partners in order to decrease lead time in product offering. The company has decreased turnaround time to only 14 days with the help of superior synchronization between forward and back integration. Zara offers fashion apparels for three types of customers such as men, women and children. Currently the company is offering products in more than five hundred cities across the world. External Analysis PESTLE Zara is a Spanish company hence it will be viable to do macro environmental analysis of the company in their home ground. The report will conduct PESTLE analysis of Spain in order to understand strategic position of Zara. Political PP is running the government of the country and public has rejected for ruling party PSOE in last year election. The country is suffering from various problems like high unemployment rate, high public debt and low GDP growth. Spanish government has implemented austerity measures of â‚ ¬65bn in order to reduce the financial deficit to 3% within next two years. Zara is facing a financial tumultuous period in hom e ground hence it will be interesting to see effect of austerity measure in their business. Spanish government structure can be understood by the following diagram. (Source: Market Line, 2012a) Economic Research conducted by Marketline shows that annual GDP growth of Spain will be reduced by 1.07% within next one year and other factors like retail sales, domestic consumption and industry output will be decreased by more than 3.5% within next one year. Economic recession has triggered the unemployment rate of the country to 20 year high 24.4%. All these factors are indicating that Zara will face a demand crunch in the home country. Stagnant GDP growth rate of the country can be explained by the following diagram. (Source: Market Line, 2012a) UNCTAD or United Nations Conference on Trade and Development has pointed out that FDI in Spain has decreased from $40.8 to $29.5bn in last two years. Dwindling FDI condition of the country can be understood by the following diagram. (Source: Mark et Line, 2012a) The country is suffering from increasing inflation rate which is hampering overall growth rate. Fluctuating nature of inflation can be analysed in the following manner. (Source: Market Line, 2012a) Staggering unemployment rate of Spain can be explained by the following diagram. (Source: Market Line, 2012a) Social Government has reformed the existing pension scheme and which can increase savings 3.5% of GDP by 2050. Spanish labour market reform will provide flexibility and competitiveness to retailers

Future Of Self Driving Cars Research Papers Essay Example for Free

Future Of Self Driving Cars Research Papers Essay In the technology world, the latest advancement is only as good as the next thing coming down the line. The auto industry is constantly bringing us new technologies, whether it be for safety, entertainment, usefulness or simply for pure innovation (Neiger,C.). Unless youre an inveterate walker or a mass-transit rider, you probably spend more time in your car each week than anywhere except your workplace and your home. It’s not always pleasant. Highway gridlock, a fruitless search for a parking space or a brush with a thundering tractor-trailer can rattle all but the most Zen drivers. Things are about to get better. A new wave of innovation, led by carmakers and automotive-tech companies, is transforming the driving experience. Thanks largely to on-board computers, our vehicles are becoming smarter, nimbler, and safer and more fun. (Human drivers, unfortunately, will remain as erratic as ever.)Fully self-driving cars remain some years away. But new technology in the next five to 10 years will help Cars Park themselves, monitor the alertness of the driver and even communicate with each other to avoid collisions. Tomorrows cars may have self-parking cars, self-driving cars, long-range headlights, external airbags, learning system, connecting cars, and driver’s health (Brandon,G.). For decades, car infotainment meant just a radio. Then tape decks began appearing, eventually being joined by CD players. Now, Tape decks have disappeared as a factory option (the last car to come with a tape player was sold in 2010), and the CD is entering a slow but inexorable decline. Theyre being replaced by smartphones and streaming media. Compared to even a few years ago, new cars are far more connected to the outside world. Its a trend thats only going to continue. The always-updating consumer electronics industry and the rapid rise of the smartphone have combined to condition consumers to an incredibly rapid pace  of development. People expect new devices every couple of years that are faster and more powerful, and they’re bringing those expectations out of the Apple or Android or Microsoft s tore and into the car dealership. As we covered recently, this has created a new set of challenges and opportunities for the automakers. First Parking may be the most tedious thing about driving. Parallel parking is an ordeal for many drivers, but with parking space limited in big cities, squeezing your car into a tiny space is a vital skill (Grabianowski,E.) Even for veteran urban dwellers, parallel parking can be a challenge. And nobody enjoys circling a crowded shopping-center parking lot, jockeying with other irritated drivers for the few open spaces. Fortunately, technology has an answer cars that park themselves. Imagine finding the perfect parking spot, but instead of struggling to maneuver your car back and forth, you simply press a button, sit back, and relax. The same technology used in self-parking cars can be used for collision avoidance systems and ultimately, self-driving cars. Self-parking cars can also help to solve some of the parking and traffic problems in dense urban areas. Cameras and sensors mounted in car bumpers measure the distance between the car and surrounding obstacles, allowing a semi-au tomated system to turn the steering wheel, move and brake to navigate into spaces (Brandon,G.). Sometimes parking a car in a space is restricted by the drivers skill at parallel parking. A self-parking car can fit into smaller spaces than most drivers can manage on their own. This makes it easier for people to find parking spaces, and allows the same number of cars to take up fewer spaces. When someone parallel parks, they often block a lane of traffic for at least a few seconds. If they have problems getting into the spot, this can last for several minutes and seriously disrupt traffic. Self-parking technology would prevent many of these mishaps. It can also save money, since you wont have to worry about insurance claims for parking-related damage (Grabianowski,E.). Next up are cars that can park themselves at the push of a button. If you believe the hype, it would seem that self-driving cars are right around the corner. Google has been testing them for several years, and states like California and Nevada have authorized them for use on roads – although only with a human behind the wheel. Autonomous-driving features, such as systems that recognize hazards and brake on their own to avoid collisions, are already on the market. But the fantasy of a car that  automatically steers you to work while you read the morning paper or catch a few extras is still many years away. Autonomous driving is not going to mean jump in the car, push a button, say Take me to grandmas house and go to sleep, said James Bell, head of consumer affairs for GM. That may come someday, but not soon. For decades, most automobile headlights were fairly uncomplicated. They pointed fixedly ahead, with separate high beams for greater visibility on dark roads. Then came the more energy-efficient halogen and xenon lights and light-emitting diodes (LEDs). Now, automakers are pioneering a generation of smart headlights that can automatically adjust their brightness or direction depending on conditions. And a coming wave of laser high beams promises to illuminate the road ahead for a third of a mile – twice the range of LED high-beam headlights – while using less energy. Audi and BMW are racing to be the first carmakers to offer laser lights in a production car: BMW in its i8 plug-in hybrid and Audi in a yet-to-be-named model (maybe the Quattro) by 2015. Well be able to extend the range of headlights to (a distance of) six football fields, said Filip Brabec, director of product management for Audi. Thats 600 yards, or more than three north-south blocks in New York. Meanwhile, next-generation LEDs have sensors that can detect oncoming traffic and redirect the beams in such a way as not to blind other drivers. An onboard computer, linked with cameras, controls each of them to mask glare onto other vehicles while flooding the road with light. With such a system, drivers can keep their high beams on all the time instead of having to toggle back and forth. For decades, inflatable airbags have been protecting people in cars from the devastating jolt of collisions. There are airbags mounted in the dash, steering wheel, side panels, seats and even seat belt. Despite their varied locations, these airbags all have one thing in common: Theyre inside the vehicle. But what if someone made airbags that inflated on the outside to help protect the car and pedestrians before the moment of impact? TRW Automotive, a maker of safety technologies, is developing a large airbag that would fit into rocker panels on the side of the vehicle, on the beam below the doors. A system of cameras and radar on  the car would detect when a collision was imminent and send a signal to the airbag, which would inflate outward and upward within 30 milliseconds. In this way, the side airbag would absorb some of the energy of the collision before the vehicles frame was struck. Crash tests have shown that the external airbags can reduce the impact on a vehicles interior – the inward crumpling of a cars frame and doors – by up to 35%, said Emiliano Core, who is developing the airbag system along with Lothar Zink and other TRW engineers. http://www.cnn.com/interactive/2014/02/tech/cnn10-future-of-driving/ We humans are flawed drivers. We sometimes get behind the wheel while sleepy or even drunk, and were easily distracted, whether by our electronic devices or something pretty outside our window. In the gravest circumstances, we can even have a stroke or heart attack behind the wheel (Kelly,H). This is why researchers, app developers and car companies are developing technology to monitor flesh-and-blood drivers and help them avoid accidents. Advanced sensors in the passenger cabin can monitor a drivers vitals such as heart rate, eye movements and brain activity to detect everything from sleepiness to a heart attack. Nissan is experimenting with an array of technology that detects drunken driving. A sensor in the transmission shift knob can measure the level of alcohol in a drivers sweat, while the cars navigation system can sound an alarm if it detects erratic driving, such as weaving across lanes (Kelly,H). http://www.cnn.com/interactive/2014/02/tech/cnn10-future-of-driving/ For several years now, weve been hearing about a near future in which all of our digital devices communicate with each other. Your fridge notices that youre at the grocery store, for example, and sends a message to your phone saying youre out of milk. Or your oven texts you when the pot roast is done. Now this so-called Internet of things is coming to the highway (Brandon Griggs). As cars grow more and more computerized, they will be able to trade messages about traffic, weather and road conditions. More urgently, they can broadcast their speed and direction and warn each other about potential safety hazards, such as when a nearby vehicle is drifting into your lane.If I can get information from the car next to me that  theyre going to turn right, that would be great, explains Maarten Sierhuis, director of Nissans research center in Silicon Valley. He imagines a day when information about almost all vehicles is stored in the cloud and accessible by all. It would be like crowdsourcing the driving experience. This technology is called vehicle-to-vehicle communications, or V2V for short, and its not far off. In the first test of its kind, almost 3,000 cars and trucks equipped with prototype V2V devices have been driving around Ann Arbor, Michigan, over the past year-and-a-half as part of a pilot program by the University of Michigan and the U.S. Department of Transportation (Brandon Griggs). Thanks to on-board computers that operate everything from the stereo and navigation to the brakes and accelerator, the era of big data is coming to the automobile (Peter Valdes-Dapena). Mercedes-Benz is developing a system that over time promises to learn your schedule, tastes and even your moods. For example, it knows that you leave the house every weekday at 7:30 a.m. to take your kids to school and that you like the cabin a toasty 75 degrees. Based on GPS and satellite data, it quickly learns your preferred routes and tracks real-time traffic problems, so it can suggest detours to help you save time (Peter Valdes-Dapena). http://www.cnn.com/interactive/2014/02/tech/cnn10-future-of-driving/ Here are some of my favorite implications. Reduced deaths, reduced accidents. Saving LOTS of Money and Time. Massive Fuel Savings. No New Roads, Less Traffic. No Ownership – Just â€Å"On-Demand† Usage. No Garages, No Driveways, No Parking. No Mandatory Car Insurance. At last, if self-driving cars are available in the market everyone will be exited and there will be lot of advantages. Some people may enjoy and love driving cars by themselves, for them this technology may or may not help. But lots of people will be beneficial. Old people and some handicapped people may definitely like this. By this future cars we can save time, money and accidents as well. This technology cars are going to be with us within next 5-10 years. References: Brandon,G. (n.d.). The CNN 10: Future of driving. Retrieved from: http://www.cnn.com/interactive/2014/02/tech/cnn10-future-of-driving/ Diamandis,P. (10-13-2014). Self-Driving cars are coming. Retrieved from: http://www.forbes.com/sites/peterdiamandis/2014/10/13/self-driving-cars-are-coming/ Grabianowski,E. (n.d.). How self-parking cars work. Retrieved from: http://auto.howstuffworks.com/car-driving-safety/safety-regulatory-devices/self-parking-car.htm Jonathan,m. (06-3-2014). The past, present, and future of in-car infotainment. Retrieved from: http://arstechnica.com/cars/2014/06/the-past-present-and-future-of-in-car-infotainment/ Kelly,H. (n.d.). The CNN 10: Future of driving. Retrieved from: http://www.cnn.com/interactive/2014/02/tech/cnn10-future-of-driving/ Neiger,C. (n.d.). 5 Future car technologies that truly have a chance. Retrieved from: http://auto.howstuffworks.com/under-the-hood/trends-innovations/5-future-car-technologies.htm Valdes-Dapena,P. (n.d.). The CNN 10: Future of driving. Retrieved from: http://www.cnn.com/interactive/2014/02/tech/cnn10-future-of-driving/

Islamic and Conventional Banking: Customer Satisfaction

Islamic and Conventional Banking: Customer Satisfaction Customer satisfaction is a business term which measure that how products and services supplied by a company or business organisation meet or fulfil customer expectations. Customer satisfaction is believed a very important and key performance indicator within a business. In a competitive marketplace where businesses compete for customers, customer satisfaction is a key differentiator and has become a very important element of business strategy. Banking is a customer oriented services industry, therefore, the customer is the focus and customer service is the differentiating factors. When the banks are offering almost the similar products and services with some principal differences. It is the customer satisfaction that can influence the performance and determine the competitiveness and success of either an Islamic or Conventional bank. Banks deal with thousands of customers everyday and render different types of services to them. It is a well known reality and fact that no business can exist and grow without customers. And the satisfaction of these customers is as important as the customers itself are important for any business. Satisfied customers are central to optimal performance and financial returns. Better understanding of customers perceptions is important for a Bank to determine the actions required to meet the customers needs. Banks can identify their own strengths and weaknesses, where they stand in comparison to their competitors, chart out path future progress and improvement. Customer satisfaction measurement helps to promote an increased focus on customer outcomes and stimulate improvements in the work practices and processes used within the company. 1.2 Research Objectives The main aim of this study is to:- Review and analyse the literature available on both Islamic and Conventional bank with special reference to Pakistan. Examine and evaluate the performance of the Islamic and conventional banks in Pakistan. Find out the level of Customers knowledge about the products and services provided by their banks. Find out the factors of customers dissatisfaction from the products and services of their bank. Find out the main factors of motivation for a customer to deal with either an Islamic or a conventional bank. Find out that to what extent customers are satisfied with their banks. 1.3 Research Questions The research is target to examine the Islamic and conventional banking in Pakistan in relation to product analysis and customer satisfaction. This research will be helpful to answer the following questions:- Performance of which form of banking is better than the other and why? What are the main differences between the products offered by the Islamic and Conventional banks in Pakistan? What is the customers satisfaction level with both forms of banking? What are the factors of motivation for a customer to deal with a bank? What are the main factors of customers dissatisfaction from a bank? Which form of banking is more rewarding and reliable in Pakistan? What are the suggestions and recommendation to improve the services and operations of both Islamic and Conventional banks? 1.4 Research Rational The Researcher worked in a conventional bank for about 1 year, at the time when there was no Islamic bank in Pakistan. But there seemed to be a demand in the customer for such kind of banks at that time. Researcher is keen to start his career in the banking sector of Pakistan. At the moment there are about 35 banks working in Pakistan out of which 6 of them are registered as Islamic banks, but majority of the Islamic banks started their operations very recently. But if we compare them with conventional banks in Pakistan conventional banks are much older and larger then these Islamic banks. The Researcher is committed to investigate the principal difference between the both conventional and Islamic banks, their products, their reliability and the factors encouraging the customers to invest their money in any of these two forms of banking. The researcher will also analyse the key factors which play their role in either the satisfaction or dissatisfaction of the customer of these banks and which form of banking is more successful in relation to customer Satisfaction and why? The researcher will also come out with the suggestions to improve the service of the banks to satisfy their customer. 1.5 Research Context Banks are performing various functions to provide variety of products and services for different sectors of the economy. Pakistan came into being in 1947; the first Pakistani bank started its operations the same year in the month of September. Since that time Pakistani banking sector is experiencing difficulties due to unpractical policies and uncertainty. Private Sector banks strongly dominated during the first almost 20 years but all the banks were nationalized in 1974, which proved disastrous move for the banking sector of Pakistan. Nationalization of private banks badly affected the performance of these banks. So, these banks were privatized again in 1992. Pakistans banking sector consists of Scheduled commercial banks, which include nationalized, foreign and private banks. Pakistans banking sector has been going through a comprehensive but complex and very painful process of restructuring since 1997. It is aimed at making these institutions financially sound and forging their li nks firmly with the real sector for promotion of savings, investment and growth. A complete turnaround in this sector will not be possible and is not expected as well but signs of improvement can be seen. Islamic banking was started in the late 70s in Pakistan, but it was initially introduced in the conventional banks. The first Islamic banking license was issued in 2002 to the Meezan Bank Ltd; this bank started its operations in Pakistan in the year 2003. The Islamic banking has gained momentum worldwide. There are more than 185 Islamic banks and financial institutions operating in the world. The popularity of Islamic banking in not limited to Islamic banks only. A large number of conventional banks in Pakistan and all over the world are showing increasing interest in the Islamic banking system as well. The consequence of this is that Islamic banks operating in Islamic countries are faced with strong competition not only from Islamic banks but also from non-Islamic rivals Habib Bank Ltd Habib Banks Ltd. was the first commercial bank to be established in Pakistan in 1947. Over the years, HBL has grown its branch network and become the largest private sector bank with over 1,450 branches across the country and a customer base exceeding five million relationships. The Government of Pakistan privatized HBL in 2004 through which AKFED acquired 51% of the banks shareholding and management control. HBL is majority owned (51%) by the Aga Khan Fund of Economic Development, 42.5% of the shareholding is retained by the Government of Pakistan (GOP), whilst 7.5% is owned by the general public i.e. over 170,000 shareholders following the public listing that took place in July 2007. Nepal, Nigeria, Kenya and Kyrgyzstan and rep offices in Iran and China, HBL is also the largest domestic multinational. The bank is expanding its presence in principal international markets including the UK, UAE, South and Central Asia, Africa and the Far East. Key areas of operations encompass product offering and services in retail and consumer banking. HBL has the largest corporate Banking portfolio in the country with an active investment banking arm. SME and Agriculture lending programmes and banking services are offered in urban and rural centres. HBL is currently rated AA (Long term) and A-1+ (Short term) and has a balance sheet size over USD 11 billion. It is the first Pakistani bank to raise Tier II Capital from external sources. Meezan Bank Ltd. Meezan Bank Limited, a publicly listed company, was incorporated on January 27, 1997 and started operations as an investment bank in August that year. In January, 2002 in a historic initiative, Meezan Bank was granted the nations first full-fledged commercial banking license as a dedicated Islamic Bank, by the State Bank of Pakistan. Meezan Bank has clearly established itself as the largest Islamic Bank in Pakistan with the largest Islamic Banking branch network in the country. The banking sector is showing a significant paradigm shift away from traditional means of business and is catering to an increasingly astute and demanding financial consumer, who is also becoming keenly aware of Islamic Banking. Meezan Bank bears the critical responsibility of leading the way forward in establishing a stable and dynamic Islamic Banking system replete with dynamic and cutting-edge products and services. During the eight years of its operations as an Islamic commercial bank offering universal banking services to customers, Meezan Bank has been one of the fastest growing banks in the history of Pakistans banking sector. Average growth in deposits has been 55% per annum during this period while the branch network grew from 4 to 201. The Bank has established a strong and credible management team comprised of experienced professionals, that have achieved a strong balance sheet with excellent operating profitability and strong ratios, which places the Bank at the top of the Islamic Banking industry. The Bank has been assigned a long-term entity rating of A+ with a à ¢Ã¢â€š ¬Ã‹Å"Stable outlook and a short-term entity rating of A1. The Banks main shareholders are leading financial institutions of the Region namely, Noor Financial Investment Company, Kuwait, a leading investment company based in Kuwait; Pak-Kuwait Investment Company, a AAA rated financial entity in the country and the Islamic Development Bank of Jeddah. The established position, reputation, strength and stability, of these institutions add significant value to the Bank through Board representation and applied synergies. The bank has developed an extraordinary research and development capability by combining investment bankers, commercial bankers, Shariah scholars and legal experts to develop innovative, viable, and competitive value propositions that not only meet the requirements of todays complex financial world, but do so with world-class service excellence which our customers demand, all within the bounds of Shariah. Meezan Bank has a strong technology focus. It has invested heavily in state-of-the-art software applications à ¢Ã¢â€š ¬Ã¢â‚¬Å" namely Temenos T-24 and Oracle. It has also recently upgraded its hardware platform and also has a à ¢Ã¢â€š ¬Ã‹Å"hot disaster recovery site in place to cater to any unforeseen eventualities. By implementing robust and aggressive strategic and tactical initiatives on the side of consumer banking, Meezan Bank aims to fulfil its prime target of providing customers accessibility and convenience, within an atmosphere and culture of dedicated service and recognition of their needs. The Bank has a rapidly growing branch network across all major cities nation-wide. Meezan Bank, believe in adding value to its customers lives and businesses through dynamic and competitive products and services that fulfil their needs while conforming completely to the dictates of Shariah. At the same time, they endeavor to deliver competitive risk-adjusted returns to our stakeholders LITERATURE REVIEW Within the last few years, a number of studies have provided the discipline into the Practice of conventional and Islamic banking sector. An insight of related studies is as follows:- Islamic banks are striving to capture the maximum number of customers to compete with conventional banks by providing a large number of products as an alternative for interest based products. In Pakistan, banks are providing a wide range of products and services and facing intensive competition to attract potential customers. Persuraman et al. (1985, 1991b) devised SERVQUAL model and investigated the service quality. They explored ten dimensions of service quality and refined into five dimensions. It was documented that an increase in service quality and professional behaviour resulted a greater customer satisfaction and reduced customer erosion (Leeds, 1992). The relationship between service quality and Customer satisfaction is becoming crucial with the increased level of awareness among bank customers (Sureshchander et al. 2002). The conventional banking theories assume that banks earn profits by purchasing deposits from the depositors at a low interest rate, then reselling those funds to the Borrowers at higher interest rate, based on its competitive advantage at gathering Information and underwriting risk (Santos, 2000). Therefore, conventional banks Make profits from the spread between the interest rate received from borrowers and the interest rate paid to depositors. Islamic banking is considered as a different banking stream as it prohibits interest and replaces with (a) profit share and (b) the profit share depends on the extent of the risk participation of the parties. The absence of pre-determined rewards is based on Quranic commands and as interpreted using Shariah principles (Ariff, 2006). Islamic banks showed remarkable progress. It has captured a reasonable market share with excellent growth rate of 114% per annum. The increasing number and size of Islamic banks is also a positive sign of development and success. There are six full-fledged Islamic banks working in different cities of Pakistan and 13 conventional banks have started partial Islamic banking practices by establishing a large number of branches exclusively engaged in Islamic banking practices (SBP, 2006). The prohibition of interest in Islam caused many writings to come forward with an idea to establish banks that do not work on interest basis. So the basic difference between Islamic banks and conventional banks is that Islamic banks are interest free banks whereas conventional banks are interest based banks. (Kahf 2006) Although interest and profit are very clear concepts but they are misunderstood by many people. Basic difference between interest and profit is that interest is the reward to money and profit is the reward to capital investment. In other words money produces interest and capital investment produces profits. (Toutounchian 2004) Islamic finance has gripped the world with a strong commitment and passion. It has been depicted that interest in this segment has grown rapidly in almost 60 countries, not only in Islamic countries but in the leading global financial centers. Even United Kingdom has adopted an open door policy and provided a level playing field to Islamic finance and now Singapore is following its lead. (Dr.Shamshad 2007) Islamic banking has shown tremendous growth in the past 20 years, with estimated deposits surpassing $80 billion in more than 45 countries. Annual turnover is currently estimated at $70 billion and is projected to pass $100 billion by 2000. (OSullivan 1994, p. 7) For the last 60 years, the mode of banking in Pakistan was totally of interest based but now there is a shift from western banking to Islamic banking in number of banks in Pakistan and also there are some new banks like Meezan bank which is totally based on Islamic banking. In 2007 Meezan Bank creates a significant milestone in the history of Islamic Banking by opening its 100th branch in the city of Karachi. With 100 branches in 31 cities clearly positions the Bank as the leading Islamic Bank in Pakistan. Two new dedicated Islamic Banks start operations in Pakistan, namely Emirates Islamic Bank and Dawood Islamic Bank. (Meezan Bank 2007) Mishkin (2001) reported that banking and financial services are the integral part of services industry and its contribution is increasing with the passage of time. However, expansion of global and integrated banking sector has to face many challenges of legislation, technological and structural changes (Angur et al. 1999). The relationship between service quality and customer satisfaction is investigated by a number of researchers across the globe. It is concluded that there is strong association between dimensions of service quality and overall customer satisfaction (Anderson and Sullivan, 1993). It is found that the banking industry has a link between service quality and customer satisfaction (Avkiran, 1994). Islamic banking practices resulted into a notable increase in the supply of loans. It is found that government intervention played an important role to manage funds besides other economic factors in the economy (Makiyan, 2003). Levesque and McDougall (1996) investigated the influence of key determinants of service quality on customer satisfaction in financial institutions. They found a substantial impact of service problems on customer satisfaction and their intensions to switch. It is suggested that service quality is an essential determinant of customer satisfaction (Yavas e t al., 1997). Islamic banks working in different parts of the world assessed their performance in reference to service quality and customers responses. An empirical study was conducted to measure customer awareness and satisfaction by using a sample of 206 respondents towards Islamic banking in Jordan. It is observed that customers have awareness about products of Islamic bank but expressed a sense of dissatisfaction towards some of the services (Naseer, Jamal and Al-Khatib, 1999). Bahia and Nantel (2000) developed an alternative scale for measurement of service quality in retail banking. They developed BSQ and compared with SERVQUAL. They found that BSQ dimensions are more reliable than SERVQUAL dimensions. In another study SERVQUAL is compared with Technical/Functional quality of services in private banks. Results showed that Technical/Functional quality model is better (Lassar et.al, 2000). A survey of 801 customers indicated that customers perception of service quality differs in terms of demographic characteristics (gender, ethnicity, education and income) of the respondents (Urban and Pratt, 2000). The working of the customers mind is a mystery which is difficult to solve and understanding the nuances of what customer satisfaction is, a challenging task. This exercise in the context of the banking industry will give us an insight into the parameters of customer satisfaction and their measurement. This vital information will help us to build satisfaction amongst the customers and customer loyalty in the long run which is an integral part of any business. The customers requirements must be translated and quantified into measurable targets. This provides an easy way to monitor improvements, and deciding upon the attributes that need to be concentrated on in order to improve customer satisfaction. We can recognize where we need to make changes to create improvements and determine if these changes, after implemented, have led to increased customer satisfaction. If you cannot measure it, you cannot improve it. Lord William Thomson Kelvin (1824-1907). Oppewal and Vriens (2000) empirically investigated the relationship between service quality and customer satisfaction by using original SERVQUAL instrument with 10 dimensions as devised by Parasuraman et al. (1985). This study gave a direction to relate service quality and customer satisfaction. Service quality gained significance with the passage of time due to increased competition among service firms. It was examined that how customer satisfaction affects the customers behavioral consequences. The study found a strong impact of customer satisfaction on their decision to stay with the existing service provider; and restrain their negative behavioral intentions. (Athanassopoulos, Gounaris and Stathakopoulos, 2001). Kayis, Kim and Shin (2003) conducted a comparative analysis of Australian and Korean banks to find out the quality management practices and its outcomes. They found a meaningful relationship between perceived service quality and customer satisfaction. They suggest that or ganizations should focus on service quality as an input to customer satisfaction for long-term benefits and business success. Now banks have realized the importance of service quality for successful survival in todays global and highly competitive environment (Wang et al. 2003). Jamal (2004) investigated the customer behaviour in retail banking by considering service quality and its outcomes. It was observed that customers have varied experiences of satisfaction and dissatisfaction for utilization of self-service technologies. Financial sector is becoming more conscious about the performance evaluation regarding quality of products/services according to customers expectations. In another study, findings reveal a positive correlation between financial performance and customer service quality scores (Duncan and Elliott, 2004). Curry and Penman (2004) reported that service quality is inevitable for differentiation to compete in the banking sector. They suggested that the right service could retain the customers for long-term benefits. So, Banks should maintain the level of services by proper allocation of resources to meet customer requirements. Findings indicated that financial institutions require reasonable procedures to evaluate the overall satisfaction of their customers. However, understanding of changing needs and expectations of customers is an essential prerequisite for the financial sector (Joseph et al. 2005). Jabnoun and Khalifa (2005) proposed and tested a measure of service quality to compare conventional and Islamic banks in UAE. The study found that four dimensions were significant in case of conventional banks. While only personal skill and values were crucial in determining service quality in Islamic banks. It is found that bank-customer relationship quality is evident between satisfied and dissatisfied customers. Both types of customers have clearly distinctive feelings regarding their service experience (Nelson and Chan, 2005). Al-Hawari and Ward (2006) found that customer satisfaction plays an inter-mediator role in the relationship between service quality and financial performance of the banks. In another study, overall customer satisfaction was investigated in Malaysian banking industry by collecting data from 220 customers of 15 retail banks. It was found that overall customer satisfaction is one of the key determinants of relationship quality (Nelson, 2006). It is suggested that bank should start service quality improvement programs to enhance customer satisfaction and customer loyalty (Razak et al., 2007). On the basis of existing literature, this study examines the perception of bank customers regarding se rvice quality and its impact on customer satisfaction in Pakistani banking sector, we test the following hypotheses. H1: There will be positive relationships between service quality and customer satisfaction regarding Islamic banks in Pakistan. H2: There will be positive relationships between service quality and customer satisfaction regarding Conventional banks in Pakistan. RESEARCH METHODOLOGY The main purpose of this research is to analyse the level of customer satisfaction about Meezan Bank Ltd and Habib Bank Ltd in Pakistan. Many authors and writers have defined research and research methodology, most of them if not completely contradictory with each other but are substantially different. Websters Collegiate Dictionary (1977) defines research as à ¢Ã¢â€š ¬Ã…“Studious inquiry or examination; esp. investigation or experimentation aimed at the discovery and interpretation of facts, revision of accepted theories or laws in the light of new facts or practical application of such new or revised theories of lawsà ¢Ã¢â€š ¬? Andrew and Hildebrand (1982, p. 3) define research as à ¢Ã¢â€š ¬Ã…“The orderly procedure by which man increases his knowledgeà ¢Ã¢â€š ¬? 3.1 RESEARCH PHILOSOPHY 3.2 RESEARCH APPROACH Research approach means the approach or the methodology that has been adopted to conduct the research. Research approach involves the selection of research questions, the conceptual framework that has to be adopted, the selection of appropriate research method such as primary research, secondary research etc. There are mainly two types of research approach:- Inductive approach Deductive approach Inductive Approach An inductive argument is one in which the premises are supposed to support the conclusion in such a way that if the premises are true, it is improbable that the conclusion would be false. Thus, the conclusion follows probably from the premises and inferences. Here is an example: 1. Socrates was Greek. (Premise) 2. Most Greeks eat fish. (Premise) 3. Socrates ate fish. (Conclusion) It may seem that inductive arguments are weaker than deductive arguments because there must always remain the possibility of their arriving at false conclusions, but that is not entirely true. With deductive arguments, our conclusions are already contained, even if implicitly, in our premises. This means that we dont arrive at new information à ¢Ã¢â€š ¬Ã¢â‚¬  at best; we are shown information which was obscured or unrecognized previously. Thus, the sure truth-preserving nature of deductive arguments comes at a cost. Inductive arguments, on the other hand, do provide us with new ideas and thus may expand our knowledge about the world in a way that is impossible for deductive arguments to achieve. Thus, while deductive arguments may be used most often with mathematics, most other fields of research make extensive use of inductive arguments. Deductive Approach Deductive argument is one in which it is impossible for the premises to be true but the conclusion false. Thus, the conclusion follows necessarily from the premises and inferences. In this way, it is supposed to be a definitive proof of the truth of the claim (conclusion). Here is a classic example: 1. All men are mortal. (Premise) 2. Socrates was a man. (Premise) 3. Socrates was mortal. (Conclusion) As you can see, if the premises are true (and they are), then it simply isnt possible for the conclusion to be false. If you have a deductive argument and you accept the truth of the premises, then you must also accept the truth of the conclusion; if you reject it, then you are rejecting logic itself. 3.3 Research Strategy Research Strategy basically refers to the method of data collection for the specified topic. The term Data can be divided into further 2 branches. Primary Data The primary data basically refers to data which is collected by the researcher for the purpose of answering the problem under discussion. Primary data will be collected through Secondary Data The Secondary data is being obtained by the literature study, journals and articles. Secondary data is normally used to understand the problem under discussion and its helps the Researcher to reach its conclusion. The Researcher will use a quantitative approach for this research study, developing and distributing a questionnaire to customers of Islamic and Conventional banks asking them about their experiences and attitudes in relation to their banks. The questionnaire will include three types of questions, 1) closed questions, requiring the respondent to answer yes or no, 2) open questions allowing the respondent to elaborate on their answers and 3) multiple choice questions, asking respondents to rate their responses on a scale. Primary data collection plan: quantitative or qualitative both methods have to be used appropriately in any research paradigm. The researcher will be using a quantitative approach. The survey strategy will be used to collect quantitative data which is associated with deductive approach and philosophically positivist. The Researcher will distribute questionnaires to the customers from both Islamic and Conventional banks, asking them to complete and return them to the Researcher. 3.4 Research Sample In research terms a sample is a group of people, objects, or items that are taken from a larger population for measurement. The sample should be representative of the population to ensure that we can generalise the findings from the research sample to the population as a whole. Probability sampling means a method of sampling that utilizes random selection. In order to have a random selection method, you must set up some process or procedure that assures that the different units in your population have equal probabilities of being chosen. Humans have long practiced various forms of random selection, such as picking a name out of a hat, or choosing the short straw. These days, we tend to use computers as the mechanism for generating random numbers as the basis for random selection. Non probability sampling does not involve random selection but it does not mean that non probability samples arent representative of the population. But it does mean that non probability samples cannot depend upon the rationale of probability theory. At least with a probabilistic sample, we know the odds or probability that we have represented the population well. We are able to estimate confidence intervals for the statistic. With non probability samples, we may or may not represent the population well, and it will often be hard for us to know how well weve done so. In general, researchers prefer probabilistic or random sampling methods over non probabilistic ones, and consider them to be more accurate and rigorous. The Researcher will be using Probability Sampling method for its Primary data collection. 3.5 Research Validity and Reliability The research is designed very carefully in order to maintain the level of validity and reliability. The study which is used is a test and re test approach in order to reduce unfairness and interviewee possible irritation. Both qualitative and quantitative research method are aimed to achieve high level of validity and reliability. Interviews are based on friendly manner to approach people have available time for interviews. Open ended and close ended questions along with some probe were going to be used during in-depth interview. The ethical principle of collecting data is to avoid subjective selectivity in what we record. Researchers needs to maintenance his objectivity by making sure he collects all data and fully (Saunder`s M. et al 2007). 3.6 Research Ethics The ethical principle of collecting data is to avoid subjective selectivity in what we record. Researcher needs to maintenance his objectivity by making sure he collects all data accurately and fully (Saunders, M. et al. 2007). Time Period and task to do March 2010 April 2010 May 2010 June 2010 July 2010 August 2010 Weeks, 17, Prepare dissertation proposal and submission before 29th April 2009. Continue searching the literature review and its submission to supervisor. .. . . Weeks, 18,19 .. Weeks, 20,21 Interviewing with participants, and analysing of data simultaneously, gathered from each participant. Revision of draft and supervisor`s comments. Meeting with supervisor, Initial start

Essay examples --

Gaucher’s disease is a human metabolic disease. Other names for the disease are glucocerebrosidase deficiency, Gaucher splenomegaly, glucocerebrosidosis, or glucosyl cerebroside lipidosis. The disease is caused when someone lacks the enzyme called glucocerebrosidase. Though Gaucher’s disease is very rare, it most commonly occurs in people of Eastern and Central European Jewish heritage. It affects 1 in 500 to 1,000 people of Jewish decent, and very rarely in other backgrounds. It is an inherited disease in the autosomal recessive pattern. Both parents have to be carriers of the genetic mutation for their children to develop the disease (U.S National Library of Medicine). Gaucher’s disease is passed down from generation to generation. A person can get the disease if both of their parents carry a recessive copy of the gene. If someone only gets one recessive copy then that means that they are a carrier. A carrier has the capability of pass the disease on to their children though they do not have Gaucher’s disease. Gaucher’s disease (pronounced go-shayz) is a hereditary disease dealing with metabolism. It is known as a lysosomal storage deficiency. Mutations of the GBA gene cause Gaucher’s disease. The mutation causes toxic levels of glucocerebrosidase to build up within the cells. A person with the disease lacks the enzyme that gets rid of unwanted substances in the cell so the buildup becomes a problem. It occurs when the lipid, or fat, glucosylceramide accumulates to an unhealthy amount in certain organs in the body. These organs include the liver, lungs, spleen, and possibly the central nervous system or brain. People who have Gaucher’s disease don’t all experience the same symptoms. Usually the first symptom is an enlarged s... ...in Zavesca that helps patients. This is the only approved oral medication for patients with type 1 Gaucher’s disease. Zavesca is only for people who cannot get enzyme replacement therapy. This form of treatment may cause serious side effects. Side effects of Zavesca include diarrhea, weight loss, neurologic problems, and low platelet count. (ZAVESCAÂ ®) Gaucher’s disease was first described by a French medical student named Phillipe Charles Ernest Gaucher in 1882. Gaucher treated a woman whose spleen was enlarged. He later found that it was the cells that were swollen and not her spleen as a whole. Medical communities have continued to advance in understanding of the disease in the century. Doctors and scientists are working to fully understand Gaucher’s disease so that one day we can have a cure to save the many lives that have been lost to this metabolic disorder.

Jose P. Rizal :: essays research papers

In full, JOSÉ PROTACIO RIZAL MERCADO Y ALONSO REALONDA (born 19 June 1861, Calamba, Philippines- died 30 December 1896, Manila, Philippines), patriot, physician and man of letters whose life and literary works were an inspiration to the Philippine nationalist movement. Rizal was the son of a prosperous landowner and sugar planter of Chinese-Filipino descent on the island of Luzon. His mother, Teodora Alonso, one of the most highly educated women in the Philippines at that time, exerted a powerful influence on his intellectual development. He was educated at the Ateneo de Manila and the University of Santo Tomas in Manila. In 1882, he went to study medicine and liberal arts at the University of Madrid. A brilliant student, he soon became the leader of the small community of Filipino students in Spain and committed himself to the reform of Spanish rule in his home country, though he never advocated Philippine independence. The chief enemy of reform, in his eyes, was not Spain, which was going through a profound revolution, but the Franciscan, Augustinian and Dominican friars who held the country in political and economic paralysis. Rizal continued his medical studies in Paris and Heidelberg. In 1886, he published his first novel in Spanish, Noli Me Tangere, a passionate exposure of the evils of the friars rule, comparable in its effect to Harriet Beecher Stowe's Uncle Tom's Cabin. A sequel, El Filibusterismo, 1891, established his reputation as the leading spokesman of the Philippine reform movement. He annotated an edition in 1890 on Antonio Morga's Sucesos de las Islas Filipinas, which showed that the native people of the Philippines had a long history before the coming of the Spaniards. He became the leader of the Propaganda Movement, contributing numerous articles to its newspaper, La Solidaridad, published in Barcelona. Rizal's political program, as expressed in the newspaper, included integration of the Philippines as a province of Spain, representation in the Cortes (the Spanish parliament), the replacement of the Spanish friars by the Filipino priests, freedom of assembly and expression, and equality of Filipinos and Spaniards before the law. Against the advice of his parents and friends, Rizal returned to the Philippines in 1892. He found a nonviolent reform society, La Liga Filipina, in Manila, and was deported to Dapitan, in northwest Mindanao, an island south of the Philippines. He remained in exile for four years, doing scientific research and founding a school and hospital.

Psychological Factors of the Issue Essay

Psychological factors include motivation, perception, learning, beliefs and attitudes. These factors are largely unconscious and that a person cannot fully understand his own motivations. People decide based on what h perceives as dictated by his environment that serves as the stimulus and not necessarily that which is real. In marketing, perceptions are more important than reality. Characteristics of Adolescence Adolescence is often a period of stress and conflict, particularly in Western society. The adolescent confronts a host of new, varied and difficult problems of adjustment within a brief period of time. The adolescent attempts to acquire a sense of identity, a sense of who one is and where one is going. Every adolescent wants to be popular. They commonly think, †What can I do to have all the kids at school like me? † â€Å"What can I do to feel I belong to a group? † â€Å"How can I be popular with both girls and boys? † â€Å"What kinds of clothes will make me feel like I am one of them? † Sometimes adolescents go to great lengths to be popular. In some cases, parents go to even greater lengths to try to insulate their adolescents from the rejection and to increase the likelihood that they will be popular. Students show off because it gets attention and makes their peers laugh. Parents set up elaborate parties, buy clothes for their teens and drive adolescents and their friends all over in the hope that their sons and daughters will be popular (Santrock, John). Dr. Riesman in his study of the basic changes taking place in the American characters during the twentieth century (that is, from inner-directed to outer-directed) found that our growing pre-occupation with acts of consumption reflects the change. This pre-occupation, he noted, was particularly intense (and intensively encouraged by product makers). He characterized the children of America as ‘consumer trainees. ’ (Santrock, John). The adolescent confronts a host of new, varied and difficult problems of adjustment within a brief period of time. Physiological changes – rapid body growth, sexual maturity, increases in sex hormones–often precipitate special conflicts and self-doubts. Almost simultaneously, the adolescent is expected to achieve independence from the family, establish satisfying relationships with peers of both sexes, decide on – and prepare for – a set of consistent moral principles to guide decisions and actions. Fashion, therefore, lures the adolescents to try something new and not get stuck with the traditional ways of dressing and doing things. Back then in the 60s, the clothes that the â€Å"old school† hip hop artists donned were expressions of individuality but they even carried a purpose which was a functional one. The Puma branded sneakers that sported fat-laces and sweatsuits were all the rave back then. The colorful clothing which also had resemblance to the beautiful graffitis on the walls were also very popular back then. The dress-code of being loose and comfortable became a style of dressing which identified all those people as exceptional and unpretentious. Because the people in the ghettos had limited resources, they made the most out of what they had. The style and the fashion sense that they sported spoke of a willingness to create a style of their own despite several constraints (Wikipedia 2004). In the hip-hop culture today, fashion has undoubtedly become more stylish, more pronounced and more accessible in this day and age. It has indeed come a long way in the past twenty or so years. Ever since its inception, it has been proven to be a driving force in the fashion scene. From its modest beginnings in the â€Å"ghettos† of the African-American suburbs of New York, the hip hop fashion has transcended race, culture, gender as well as international borders as you will now see different ethnicities and races who have adopted their own hip hop style. The one thing that will immediately identify a person if he listens to hip hop or not is by the way they dress and what they put on themselves. Today, the hip hop clothing and apparel industry grosses over a billion dollars but despite its popularity among people who have the money to spend for the type of look they are sporting, it is still accessible by even the youngest boy in hopes of making it big in the future as an advocate of the hip hop music and fashion (Wikipedia 2004)