Causes and Solutions of World Poverty Essay -- Global Poverty Informat

Causes and Solutions of World PovertyPoverty is prevalent through out(p) the world around us. We watch television and absorb famous people begging us to sponsor a child for single ten dollars a month. We think in our own minds that ten dollars is completely pocket change, but to those children and their families, that ten dollars is a large portion of their annual income. We see images of starving children in far away countries, and our hearts go out to them. But we really do not know the implications of poverty, why it exists, or even what we can do to help combat this giant problem in our world. What is poverty? Well, according to Websters Third New International Dictionary, poverty is lack of money or material possessions poor. Two-thirds of the worlds population fits this definition. I know that many time we think of being poor as not being able to buy the car we want or take the trip we can only dream about. However, being poor, living in poverty, hits a lot lower than that. For example, a resident of the country of Chad will only bring in $ snow each year. Since many people can make more than that in one week, some in one day, can you imagine having the feed a family of five or six, or even a family of two, on only $100 a year? These are the conditions that exist in poverty-stricken countries. in that location are many reasons why poverty is an increasing problem. The first is delayed modernization. These less-developed countries barely have enough skilled workers and managers and technology. Industrialized countries have four clock as many managers and workers as the less-developed countries, in addition known as LDCs. It is almost impossible for the lower-developed countries to catch up or even compete with the industrialized countries.... ...he second base way to attempt to decrease the population is through increased active family planning programs. Especially in poor countries, it is a lot harder for women just to arise into the work force, and even harder for a poor country to become industrialized. For example, in Bangladesh, one of the worlds poorest countries, birth rates have decreased from seven children per family to only 5.5. This is generally because forty percent of Bangladeshs woman now take part in some form of family planning. The New International Economic Order, known as the NIEO, has also taken steps to decrease the amount of poverty in the world and hopefully eliminate the large gap between the rich and the poor in the world. Through individual, national, and global aid, we can take steps to decrease the overwhelming amount of poverty in less-developed countries and even in our own lands.

Genius Loves Company: Ray Charles :: essays research papers fc

Genus Loves Company The Life of Ray CharlesMusician Ray Charles is gener altogethery considered a melodic genius, and is so in many fields. He has enormous success in jazz, blues, soul music, country and western, and cross over pop. Acknowledged as an expert vocalist, pianist, saxophonist, and all around-entertainer, Charles first burst into popular attention in the 1950s as the virtual inventor of soul music. Ray Charles once defined soul music, soul music is when you ar able to convey the meaning of a song and make people feel it, make them think, Oh, Ray, you must have had that experience because theres no way you could have sung that song unless it happened to you. (Jet Magazine) Charles was born Ray Charles Robinson in Albany, Georgia, on September 23, 1930. His father, Bailey Robinson, was a mechanic and a handyman, and his take, Aretha, stacked boards in a sawmill. His family moved to Greenville, Florida, when Charles was an infant. A neighbor gave Charles piano lessons af ter Charles taught himself to play at the age of three. This neighbor owned a small store that served as a faker joint as well. Charles not only took piano lessons in the juke joint, he also absorbed the blues, jazz, and gospel music in the juke joint. At the age of five, Charles saw his brother drown in the tub his mother used to do laundry, while his family struggled through the height of the Great Depression. ii years later, at the age of seven, Charles lost his sight to glaucoma. He stated his mother never allowed his to feel pity for himself. In an interview with Jet Magazine, his mother told him Ok, youre blind. Now that just means there are at least two ways to do everything. You just have to find the bet on way Whatever happens to you is up to you His mother also told him Youre blind, you aint dumb. You lost your sight, not your mind. Studying at the St. Augustine School for the Deaf and Blind, he studied for nine years, learning compo codion and a number of instruments. Upon leaving the school he worked in a number of settings with many different groups in the Florida area. (Salamone) Learning to read music in Braille and play by ear helped me develop a damn good memory, Charles said. I can sit at my desk and write a whole arrangement in my head and never touch a piano Theres no precedent for it to come out any different that the way it sounds in my head.

Analysing Kant Essay -- essays research papers

Kant Sewction 1 Kant starts off making two distinctions regarding kinds of knowledge, empirical/ lucid and formal/material. Empirical or experience-based knowledge is contrasted with rational knowledge, which is independent of experience. This distinction between empirical and rational knowledge rests on a difference in sources of evidence used to support the two diametric kinds of knowledge. Formal is contrasted with material knowledge. Formal knowledge has no specific discipline matter it is about the general structure of thinking about any subject matter whatsoever. Material knowledge is of a specific subject matter, either temperament or freedom. Rational knowledge is metaphysics, of which there are two branches, the metaphysics of nature and of morals. The metaphysics of nature is supposed to provide rational knowledge of the laws of nature. These are not empirical laws they are more like widely distributed principles of nature that any empirical physical would presuppose, such as that no event in nature occurs without a natural cause. The metaphysics of freedom is supposed to provide knowledge of the laws of freedom. These are the universal rules which free agents devise to govern them. Thus, Kants grounding, his initial attempt at a critique of rational reason, is an investigation of the possibility of purely rational knowledge of morals. Take, for example, the chaste Rule Thou shalt not lie. If the moral law is valid as the basis of moral obligation or duty, then it must b...

The Unjustified War in Iraq Essay -- Politics Political Essays

The Unjustified War in Iraq History has many times been tainted with the blood of war. Lives lead been lost, homes have been destroyed, and families have been torn apart. Once again, our nation is about to witness a terror that no one can really comprehend. We atomic number 18 on the threshold of an unwarranted war. The United States should refrain from war with Iraq because of the lack of concrete evidence in regards to weapons of mass destruction. Instead, they should be working towards peace. Following September 11, provide claimed Iraq to be affiliated with Al Qaeda in Prague or Kurdistan (Alter 29). This was played up even though the CIA and FBI determined that evidence is fragmentary and inconclusive and that the administration is exaggerating information to brace a political case for war. (Heuvel) Later, the Bush Administration stated that Iraq possessed terrible weapons of mass destruction. Secretary of State Colin Powell was sent to the United Nations, to make the Bush administrations case for preemptive war against Iraq. His case presented several accusations but very little new information or proof that weapons of mass destruction are actually present in Iraq. Nearly all of his evidence was largely circumstantial or speculative(Heuvel). Not only will this war shine the lives of a nation where over 50% of the population is children under the age of 15, but it will also endanger our own troops because of inexcusable inadvertence by our government. The pentagon was finally forced to admit, last October, that 250,000 faulty battle-dress over garments (BDO) suits have been lost among 800,000 usable BDO suits, and they are unable to determine which are the damaged suits. With the compositors case of chemical warfare our soldie... ...st option but as a distant final option. Let us declare peace a civil in good order in a democracy, and a human right in this world. (Kucinich) Works Cited Alter, Jonathan. Trust Me Isnt Good Enough. Newsweek 3 Feb. 2003 29. Byrd, Robert. Senate Floor Speech. U.S. Senate, Washington, D.C. 12 Feb. 2003. Dickey, Christopher. Perils of Victory. Newsweek 3 Feb. 2003 30-32. Heuvel, Katrina Vanden. Powell Fails to Make Case. The Nation. 6 Feb. 2003. 10 Feb. 2003 <http//www.thenation.com/doc.mhtml Kucinich, Dennis. Peace as a Civil Right. Martin Luther King Day Celebration. Ministerial Alliance. Lakewood Presbyterian Church, Lakewood, OH. 19 Jan. 2003. Wolfe, Richard and Hirsh, Michael. War and Consequences. Newsweek 3 Feb. 2003 22-28. Zakaria, Fareed. Looking on the Bright Side. Newsweek 3 Feb. 2003 33

Molieres Tartuffe - The Character of Tartuffe :: Tartuffe Essays

The Character of Tartuffe Molieres neoclassic comedy, Tartuffe, is a prime example of his expertise in the comedic technique. The plat is one that keeps the reader or viewer interested and aware. It begins with Madame Pernell visiting her sons menage and reprimanding all of them but their boarder, Tartuffe. She believes Tartuffe is a man of astounding character. The members of the house, however, disagree and say that Tartuffe is fruitless and a fraud. After Madam Pernell leaves, Dorine and Cleante, the maid and the brother-in-law of the main character, Orgon, discuss Tartuffe and both agree that he has captivated Orgon. Damis, Orgons son, wonders whether his father will allow Mariane, Orgons daughter, to marry Valere, who she is in love with, because Damis is in love with Valeres sister. Orgon comes and tells Mariane that he wants her to marry Tartuffe instead of Valere because he wants to ally Tartuffe to his house. She is so shocked that she does not say anything. Cleante tr ies to tell Orgon about Tartuffes mislead personality, but Orgon does not want to hear it. Valere finds out about this proposed marriage, and Dorine promises to help Mariane and Cleante expose Tartuffe for the hypocrite he is. Meanwhile, Damis has a plan to hide in a closet to try to expose Tartuffes hypocrisy. He hears Tartuffe profess love to Elmire, Orgons wife, and suggests that they become lovers. Damis comes from the closet and threatens to tell Orgon what he has said. Damis then tells Orgon, and Orgon is so blind to the truth, that he believes his aver son is evil and disinherits him. Later, when Orgon and Tartuffe are alone, Orgon tells Tartuffe of his plans to make him his sole inheritor and his son-in-law. After this, Cleante tries to talk to Orgon about Tartuffe and he confronts Tartuffe in front of Orgon. Tartuffe just dodges the questions, though, and leaves as curtly as possible. Elmire then convinces Orgon to hide and find out for himself about Tartuffe, so he does so. Tartuffe comes to see Elmire and once again professes his love. Orgon hears it all, comes from the closet, and bans Tartuffe from his house. Orgon, however, has already signed over his house to Tartuffe and Tartuffe threatens him with this. Orgon is afraid because he has given Tartuffe some secret papers that could ruin his position in the court.

Molieres Tartuffe - The Character of Tartuffe :: Tartuffe Essays

The Character of Tartuffe Molieres neoclassic comedy, Tartuffe, is a prime example of his expertise in the comedic technique. The plot is cardinal that keeps the reader or viewer interested and aware. It begins with Madame Pernell visiting her intelligences house and reprimanding all of them scarcely their boarder, Tartuffe. She believes Tartuffe is a man of astounding character. The members of the house, however, disagree and say that Tartuffe is deceitful and a fraud. After Madam Pernell leaves, Dorine and Cleante, the maid and the brother-in-law of the main character, Orgon, discuss Tartuffe and both agree that he has captivated Orgon. Damis, Orgons son, wonders whether his father will allow Mariane, Orgons daughter, to marry Valere, who she is in jazz with, because Damis is in love with Valeres sister. Orgon comes and tells Mariane that he wants her to marry Tartuffe instead of Valere because he wants to ally Tartuffe to his house. She is so shocked that she does not say anything. Cleante tries to tell Orgon about Tartuffes misleading personality, but Orgon does not want to hear it. Valere finds out about this proposed marriage, and Dorine promises to help Mariane and Cleante expose Tartuffe for the hypocrite he is. Meanwhile, Damis has a plan to hide in a crush to try to expose Tartuffes hypocrisy. He hears Tartuffe profess love to Elmire, Orgons wife, and suggests that they become lovers. Damis comes from the closet and threatens to tell Orgon what he has said. Damis then tells Orgon, and Orgon is so blind to the truth, that he believes his own son is evil and disinherits him. Later, when Orgon and Tartuffe are alone, Orgon tells Tartuffe of his plans to make him his sole inheritor and his son-in-law. After this, Cleante tries to talk to Orgon about Tartuffe and he confronts Tartuffe in front of Orgon. Tartuffe just dodges the questions, though, and leaves as soon as possible. Elmire then convinces Orgon to hide and find out for himself about Tar tuffe, so he does so. Tartuffe comes to see Elmire and once again professes his love. Orgon hears it all, comes from the closet, and bans Tartuffe from his house. Orgon, however, has already signed over his house to Tartuffe and Tartuffe threatens him with this. Orgon is hangdog because he has given Tartuffe some secret papers that could ruin his position in the court.

Lego Analysis Essay

Large losses in Vinalines, Vinashin, EVN, Vietnam Cement Corporation VICEM, Song Da Corporation, TKV virtually modes make it easier for the Vietnamese economy sinking into stagnation condition than ever before. Global economical slowdown feather led to foreign enthronization flows into Vietnam show signs of decline. make foreign investing from the beginning of 2012 to 04/20/2012 only 68. 5% comp bed to the same period last family, which is down 0. 3% comp ard to the same period last year.Trinh Thanh Hoan, coach of damages Management and Supervision Department of Finance, commented that the fiscal crisis affecting the restitution industry in Vietnam, scarcely not heavy. Vietnams damages industry is superstar of the few lucky industries has oercome the crisis. R dismantleue growth rate of the amends industry first of all 6 months of 2012 has reached a relative situation, though not as blue as in 2011. Original amends exploitation activities attachd by 11% compared t o the same period in 2011, of which 13. 5% non-life sector, life insurance increased by 8. %. In this context, the prudent with revenue of VND 2,182 billion, accounting for 39. 69% of the food market array of life insurance market in Vietnam is facing monumental opportunities to promote their competitiveness The study of the m cardinaltary situation in 2011 by prudent in conjunction with specifying the challenges they are facing in 2012 through which creating a premise to promote the Vietnamese insurance market in general and the prudent Vietnam in special(a) to develop at a s put over and legal way is the reason why this topic was chosen.Title How was the pecuniary situation of Prudential Vietnam in 2011, its problems in 2011 and its challenges in 2012 Object of this project is to study the financial situation in 2011 of Prudential Viet Nam in which the writer foc employ on the analysis of gross revenue along with the challenges that they are facing in 2012, which is the main compute determining the competitive position of the partnership The upchuck of investigate topics In term of spatial The insurance conjunction in Vietnam, especially Prudential In term of time Empirical research in the period 2011-2012Research objectives of the project are presented in three main aspects, namely Develop working scientific arguments roughly the challenges that Prudential are facing in 2012 as an important strategy in tune development issues of Prudential Analysis of the financial situation of Prudential Vietnam in the 12-month period of 2011 The layout of the contents of the subject consists of three parts Chapter 1 Historical development and transcriptional social structure of Prudential Vietnam. Chapter 2 How Prudential Vietnam did their backing in 2011.Chapter 3 Financial Situation of Prudential Vietnam in 2011 compared to 2010, its problems in 2011 and its challenges in 2012. In term of finishing this project, because of putation in knowledge ab out finance and insurance field and the lack of information that we can find both on The Internet and directly from Prudential Vietnam, our opus may be confined. We would like to show our gratitude to Dr. Gitte Top, who has specially enthusiasm in guiding our group during the process of doing and finalizing this project. We wish you be always happy in your life. METHODOLOGY A.The method used in general is the research onion * Definition In order to practice how a research should be answered a clear methodological analysis was sought which is referred as research onion. It presents a clear framework for the most suitable methods and strategies to address a research. It promotes the knowledge to answer a research question. After deciding a suitable philosophy other elements are selected from the layers which assist in answering a research. Each element in a different layer is discussed below in order to get an opinion why elements were selected while masterminding a research * T he purpose of research onionThe classification of research purpose most often used in the research method literature is threefold sensation of exploratory, descriptive and explanatory. However, in the same way as our research question can be both descriptive and explanatory, so our project may befool much than one price. Indeed, as Robson (2002) point out The purpose of your enquiry may change over time I. The research paradigms The first layer of the onion is research paradigms. It gives an idea that how we think about the research. Several views about research process dominate the literature, which include positivism, documentaryism, interpretivism and others as well.The knowledge is always judged in different ways and these are different ways you can judge the knowledge. We chose realism because it is a mixture of both the philosophies positivism and interpretivism as it allows us to study for the social issues trying to attend the impact of wider social forces. Moreover, we would take advantage of the accuracy in evaluation of the figures provided in the financial embrace of Prudential in 2011 to see correctly its problems and challenges. These reasons are why the realism is selected II. The research approachesThe second layer of research onion refers to research approach. There are two approaches involved 1. deductive approach Deductive approach works from more general to specific. This is informally called as top-down approach. A deductive approach is consistent with developing a theory and examination it through research. Arguments based on laws, rules and accepted principles are generally used for Deductive Reasoning. 2. Inductive approach Inductive reasoning works the other way like deductive moving from specific to general to broader generalization and theories.And informally it is referred as bottom op approach. And its conclusion is likely based on premises and usually involves a degree of un receivedty. Because of the limitation about the i nformation we can look up, we chose the deductive approach in order to have a clear penchant to carry out the project. B. The project I. Object of this project To analyze financial situation of Prudential corporation in 2011, then reveal factors affecting the smart set included the salute and national economy situation and as well as the knockouties which corporation face in the this year II.The range of project * In term of space indemnification market in Viet Nam and especially Prudential * In term of time Practical research in the 12-month period of 2011 about the main activities of the Prudential corporation challenges of Prudential in 2012 III. The research objective Offer the student the opportunity to train the skills falling into the categories of writing a report to learn the logic and practice of investigating/analyzing actual problems, equivalent to current challenges in modern financial companies and to being introduced to formulating a research question.IV. The research methodology To estimate specifically and exactly how was financial situation of Prudential Vietnam in 2010 our group thinks it is suitable to use dialectical materialist methodology (human relations results), along with the clever combination of theories in economics and management, based on the analysis of reliable material which our group collected, in which we focuses on information on the homepage of Prudential Vietnam. C. The structure of assignmentThe layout of the contents of the subject consists of five parts 1. The introductory part 2. Methodology 3. The main part a. Chapter 1 Historical Development and Organizational social organization of Prudential Vietnam b. Chapter 2 How Prudential Vietnam did their business in 2011 c. Chapter 3 Financial Situation of Prudential Vietnam in 2011, its problems in 2011 and challenges in 2012 4. Conclusion 5. Appendix CHAPTER 1 HISTORICAL DEVELOPMENT AND ORGANIZATIONAL STRUTURE OF PRUDENTIAL VIETNAM PART 1 HISTORICAL DEVELOPMENT Established in London 1848, Prudential is one of the worlds leading retail financial services groups providing life insurance, financial services and asset management products and it has been writing life insurance in the United commonwealth for 163 years. In 1995, Prudential arrived in Vietnam vitamin A established the Prudential Representative Office in Hanoi, the capital of Vietnam. Later on, in 1997, it established a second Representative office in Ho Chi Minh City After 11 years , in 2006 , it was awarded the No. 1 brand in Insurance Finance Banking Industry.Up to now, it has keep dominating the market sell in insurance market. PART 2 ORGANIZATIONAL STRUCTURE Board of Directors Mr. horse parsley John Hambly Chairman (Non- decision maker Director) Mr. Hambly is the Regional Head of Private Equity of Eastspring Investments (Singapore) Limited (formerly known as Prudential plus Management (Singapore) Limited) joined Prudential in 2003 and was Chief Executive Officer and Chief Investment Officer of Eastspring Investments gunstock Management Limited Liability Company (formerly known as Prudential Vietnam Fund Management Private Limited Company) from January 2006 to September 2007.Alex was also the Chief Executive Officer for Prudential Property Investment Management (Singapore) Pte. Ltd from September 2007 to February 2010 and the Chief Executive Officer of PPEM Pte. Ltd. from March 2009 to October 2010. He has more than 20 years direct investment experience gained in both Asia and other major markets.Prior to joining Prudential, he worked for four years for Actis (formerly known as CDC Capital Partners) based in Singapore, four years with HSBC Private Equity based in India, and septet years with Barclays Bank plc based in London, India and Singapore, the last three years of which he was on secondment to a private equity store (Baronsmead plc) in the United Kingdom. He holds a BA in Modern History from Durham University in the UK. Mr. Hambly is also a member of the VII Audit and allowance Committees. He has not been a director of any other listed company in the last three years. Mr. Henry (Van Hung) LamManaging Director (Chief Executive Officer) Mr. Lam, a resident of Vietnam, was born in Vietnam and came to Australia in 1977 and studied electrical engineering. He resides in Vietnam and is responsible for the groups operations in Vietnam. He was awarded the florid Star at the end of 2000, the first overseas Vietnamese to receive this, for his contri scarceion to the economy of Vietnam and in 2010 he was awarded the Second Class Labour typewriter ribbon. He has not been a director of any other listed company in the last three years. Mr. Lam is a director and doweryholder of Corbyns outside(a) Limited, the Companys ultimate holding company. Mr.Alan Alexander modern Managing Director (Chief Operating Officer) Mr. Young commenced his business career in the financial sector and was occupied for several years in banking and fi nance. For the one-time(prenominal) twenty years, he has gained wide experience in the administration of public companies, particularly in the resource sector. Mr. Young is a Board member of all the operating subsidiaries in Vietnam. He was a fellow traveller of the Institute of Corporate Managers, Secretaries and Administrators and past President of the Western Australia-Vietnam line Council Inc. He has not been a director of any other listed company in the last three years.Mr. Roger (Sing-Leong) Kwok Independent Non-Executive Director Mr. Roger Kwok is the Managing Director of Arcadia Group in Perth which specialises in designing, developing and managing retirement resorts and bountifulness properties. For the last twenty years, Mr. Kwok has managed a number of Australian businesses in the automotive and healthcare sectors. He is a past president of The Western Australian Chinese Chamber of Commerce and brings significant experience in business relations in international mark ets, particularly China, which sources peeled materials to VIIs rolling mills. Mr.Kwok is the Chairman of the VII Audit and Remuneration Committees. He has not been a director of any other listed company in the last three years. Mr. Andrew David handcart(appointed 3 January 2012) Independent Non-Executive Director Mr. Walker has graduate and postgraduate qualifications in Medicine and Medical Science from Newcastle University and is a Fellow of the International College of Surgeons. He also has a MBA from The University of Melbourne. Before starting his business career, Andrew was as officer in the Australian Army and a Platoon Commander in Australias elite parachute regiment.Mr. Walker has a wide range of Board experiences, both Public and Private companies. He was the Past-Chairman of the Melbourne Chapter of the Young Presidents Organisation. He was named the 2006 Ernst & Youngs National Entrepreneur of the Year (Service Category). In the past three years,Mr. Walker is the E xecutive Chairman of Vallenar Iron Company and Founder-Chairman of Aspen Medical Pty Ltd. Mr. Walker is a member of the VII Audit and Remuneration Committees. CHAPTER 2 HOW PRUDENTIAL VIETNAM DID THEIR BUSINESS IN 2011 PART 1 HOW DID PRUDENTIAL GET PROFIT?The inspection and repair and modernization of the country and international economic integration requires e real industry, every business have to try harder, continuing deeply comprehensive reform in all its activities. With the function of mobilizing small amount of capital from countless individuals to create a central insurance fund to invest in various sectors of the economy, insurance companies, particularly life insurance Prudential company has become an institution, a key professional investors on the capital market of many an(prenominal) countries.And if the world over a long period, the investment activities of the non-life insurance companies are considered a complementary activities in order to increase profits in ad dition to profit from insurance operations, since the type of life insurance on the market, investors have become a very important activity, cant be separated and have to put it determines the survival of life insurance companies. To be more specific, the writer will present the way Prudential get profits. Firstly, by buying insurance contracts, Prudentials employees try to persuade other people to buy their insurance policies.They will get amount of money when the contracts accomplish and unless the buyer have some problems with their body or life, the company will use the money to invest some particular activities to make more profits. Secondly, they find profit by mortgage. add is an important role for life-insurance company. With the nature as an investment tool, Prudential company must also be subject to some limitations when it carry out loan such as restrictions on the maximum amount allowed for limited borrowing and lending of money.Currently the mortgage loans of life i nsurance companies primarily secured by real estate . Most of loans under life-insurance company tend to increase quickly. This is also the form of attracting more customers to the insurance company. In Vietnam today lending policy is very popular and used by insurance companies as a form of competition. The next one is that Prudential company invested in securities. This is the investment tool which is used by almost life-insurance company most widely, hence the profits from investment securities giving the insurance company is very huge.Moreover, investing in securities has a high liquidity because insurance companies can quickly sell the securities to the market if demand for payment is necessary. Stocks and bond are two kinds of securities which most life insurance companies pick to invest. In a word, investing in securities has higher margins than other forms of investment. Life-insurance companies tend to invest large value on that list. Associating with the development of se curities market in late years, the investment of life insurance companies in this market is considerably increased.Currently Most of life-insurance companies move to invest in securities and loans which have guaranteed level less but have a higher expected rate of return. Next, Investing in real estate is important element without mention on the way to generate profit . The investment in real estate plays an essential role because it maintains the stability of the value of investing in real estate which is less change by inflation. However, investing in real estate has high market risk and low liquidity.Therefore the real estate business of life-insurance Prudential is suffered from certain limitations. In addition to these forms of investment, life insurance companies also invest in other forms of joint ventures, deposits at mention institutions, pledge and mortgage. With life insurance company investment which is usually long term should be greater long-term portfolio than that of non-life insurance companies . In introductory time, loans secured by the mortgage is the primary form of investment life insurance companies.These investments often bring a higher rate of return than investments in government bonds, although liquidity is not high. Those are the fourth better(p) ways of Prudential company to gain profit. However, it does not mean that they are the only measures. To generate profit, Prudential also take part in forms of organization and operation of investment. And Prudential with a large scale of enterp produce and the nature of insurance can invest in this activity with two forms The first one is establishing investment company belonging to Prudential company.The establishment of an independent investment organization in the form of the investment company or investment fund owned by the insurance company all the shares or hold the shares in the form of applied fairly common in the insurance company in the world. This pattern is consistent wit h the large-scale insurance companies and developing companies, it helps insurance Prudential company concentrate on its resources to improve the feel and efficiency of investment activities. These funds may only focus on a geographical area or specific industry groups or a wide range of activities and general investment fields.In recent years insurance companies have large-scale switch to set up the fund to focus its resources and improve the flavour and efficiency of investment activities. The next one, Prudential buy shares in the non-dominant of other investment company. PART 2 PRUDENTIAL MARKET SHARE AND THEIR COMPETITORS Market share * 2011 situation 2011 was a challenging year for the global economy and Vietnam was not an exception. The slow growth in the US and EU region also muffled Vietnams export demand. Moreover, the tightening policy by the SBV to tackle inflation lowered domestic industrial activities.For the full year of 2011, GDP growth was 5. 9% compared to 6. 8% in 2010. This is the second lowest year of GDP growth in the last decade, only higher than 2009 the year after the global financial crisis started. check to the annual report 2011, the revenue of Prudential Vietnam account for nearly 39% of the make sense revenue of the life insurance market, reduced 1% compared to 2010. However, Prudential Vietnam has reached new business premium of VND615 billion ($30 trillion), up 21. 2% year-on-year. The total premium income increased to VND2. 8 trillion ($137 one thousand million), up 12. % year-on-year. With the market share of 38%, the company reaffirmed its No. 1 position in Vietnams life insurance market. In additional, Prudential Vietnam has win theGolden Dragon exhibit 2011with the title Best Financial Service for all three business units in Vietnam Prudential Vietnam Assurance, Eastspring Investments and Prudential Finance. This is the 10th consecutive time that Prudential has won the Golden Dragon Award. * Prediction in 2012 2012 outlook is expected to improve due to consistent government policy, the more stable VND and improvement in the relief of payment.We become increasingly optimistic about Vietnam outlook in 2012 due to the consistency of SBV in implementing monetary policy, the more stable VND, and the improvement in the commensurateness of payment. However, in the short term, lower GDP growth is expected in trade off for long term macro stability. During this period, the equity market efficiency remain volatile and highly reactive to releasing news. We think that selective investment in sectors with stable consumption demand (i. e. non-cyclical consumer goods) or have a strong financial capacity will bring benefits for investors.In the long run, we increasingly become optimistic about the equity market as the VN mightiness valuation is currently at one of its lowest levels historically and compared to other markets in the region. Competitor In Vietnam, the insurance sector is regulated by the In surance Supervisory Division within the Ministry of Finance. The insurance trade association is the Association of Vietnamese Insurers (AVI). The main life insurance companies are Bao Viet (also a non-life insurance company) Prudential Manulife AIA Dai-ichi Life ACE Life and Prevoir.Key non-life insurance companies include Bao Viet (also a life insurance company) Bao Minh Petrovietnam Insurance Company (PVIC) PJICO PTI Cong ty BH lienhiep Bao Long Vien Dong and VIA. In the first quarter of 2012, the total sales of life insurance in the market are 3522 billion, up 8. 1% compared to the same period last year. The companies have large market shares of Prudential Vietnam, with 1,308 billion, accounting for 37. 14% market share, Bao Viet is 942 billion VND, accounting for 26. 73%, Manulife is 440 billion, accounting for 12. 5% .Leader in sales of new premium remains the Prudential Vietnam with 239 billion, followed by Bao Viet Life 226 billion and Manulife is 131 billion VND. The stronge st opponents of the current Prudential Vietnam Bao Viet Life, with a market share of new operators are close to Prudential. Futhermore, Manulife, although total sales revenue and new operators have a big gap with the Prudential, but development strategy, with a solid foundation and changes quite flexible agree to the market trend of this company many companies in the same industry appreciated.AIA is also one of considerable competitors with daring and efficient strategies which may have a spectacular breakthrough in the market share in a few years. Meanwhile, Dai-ichi Life Vietnam after a period of impressive growth, there seems to be a lull down and has not had any extensive development. In the recent economic condition, the issue is not about the number of new contracts or pushing the revenue growth. The vital tatic is maintaining the signed contracts. It dues to the fact that the level of contracts termination in Vietnamese market has always been a nightmare for life insurance o mpanies, this ratio is always around 10 15% for every years, the rate cancelling contracts in the early years are often higher. Therefore, the development of efficacious strategies many insurance companies selected for this difficult period. Although the cancelling contracts are high, Datas from the Vietnam Insurance Association showed that the three months of this year, the number of contracts restoration of 27,797 contracts, an increase of 35% over the same period last year. The companies have the contract high convalescence rate is Prudential, Bao Viet and Dai-ichi Life Vietnam.Thus, under the current intensive competition, whether Prudential can retain their leader position of the life insurance market or not, its appease a question. CHAPTER 3 fiscal SITUATION OF PRUDENTIAL VIETNAM IN 2011 COMPARED TO 2010, ITS PROBLEMS IN 2011 AND CHALLENGES IN 2012 PART 1 FINANCIAL SITUATION IN 2011 COMPARED TO 2011 AND ITS PROBLEMS IN 2011 Business activities results Unit Million VND Cont ent 2010 2011 I. Revenue 7,601,313 8,871,160 1. Revenue from insurance activities 5,365,668 5,992,532 2.Revenue for financial activities 2. 235. 645 2,871,628 II. Costs 6,263,946 7,878,625 1. Insurance activities and sales cost 5,298,593 6,335,556 2. Financial activities costs 379,520 819,496 3. Manager costs and other costs 585,833 723,573 III. Profit without taxes 1,337,367 992,535 IV. Taxes 329,815 240,839 V. Net Profit 1,007,552 751,996 The table shows how Prudential did their business in 2011. According to the table, in 2011, Prudentials revenue showed an upward trend in both insurance and financial fields.Specifically, its revenue increased by 626,864 million VND and 635983 million VND respectively. However, costs for business activities involved insurance, financial activities, management cost and other cost also grew in this 12-month period as a figure of 1,614,679 million VND. As a result, net profit was decline by a significant number, 255,556 million VND for particular, d espite of reduction in taxes. In conclusion, this insurance and finance company still got profit in the previous year, however it was less than it had been in 2010.Important financial ratios Content 2010 2011 I. Asset Structure 1. Fixed Asset / Total Asset 0. 3% 0. 4% 2. Moveable Asset / Total Asset 28. 7% 31. 4% II. Capital Structure 1. Debt / Debt and Equity 87% 88% 2. Equity / Total Capital 13% 12% III. Payment Capability 1. Money and money equivalents and short-term investment / Short-term debt ( times ) 3. 77 3. 58 2. Total Asset / Total Debt ( times ) 1. 15 1. 13 IV. Profit ratios 1. Profit without taxes / Total Asset 5% 3% 2. Net profit / gross Revenue 13% 8% 3.Net profit / Net Revenue 20% 12% 4. Net profit / Equity 30% 22% The table illustrated some relevant financial ratios included asset structure, capital structure, payment capability and profit ratios. In general, these numbers provide a negative business image of Prudential in 2011 compared to they did in 2010. For exam ple, their payment capability was limited and profit ratios also reduced to. The figures were 0. 19 time deduction in money and money equivalents and short-term investment / short-term debt and 8% decline in net profit / net revenue.Clearly, business activities of Prudential in was not effective compared to 2010 and this fact was because of several reasons and also led to several issues of Prudential in 2011. Factors had devastating impacts on insurance market in general and Prudential for particular included The 2008 Financial Crisis, inflation rates, the increase of gold price and Resolution of the government Firstly, the 2008 Financial Crisis has been proving that it has global affects and there are no countries being exception.In 2008, White House admitted the conclusion of The National Bureau of Economic Research (NBER) which is The United States has been being in recession since December of 2007 and tried to accelerate the economic recovery process by improve finance, credit a nd real estate market. According to official figures, GDP of the biggest economy in the world decreased by 0. 2% in the fourth quarter of 2007 but increased by 0. 8% in the first quarter of 2008 and 2. 8% in the following 4 months. Subsequently, it declined again in the third quarter of 2008 by 0. 5%.However NBER informed that recognizing the recession was not just based on GDP but on other economy factors such. For example, employment market and capital slowed down and showed a downward trend in a 12-month period. After that, this disease started cattle ranch all over the over and several countries and regions were victims. Fifteen European Union countries were the first, then Russia, Japan, China, Singapore Later on, in 2009, Vietnam became a victims of the crisis, which brought the economy down without recovery up to now and every single industry was effected involved insurance field.As a consequence, business activities of Prudential fell down year after year. Secondly, the in flation rates of 18. 13% was rather high than ideal number and it also means that Consumer Price Index (CPI) was 18. 13% higher than the previous year, furthermore, some essential products increased by 50% or even 100%. Hence, it had impact on social quality and decreased the amount of redemptive money of residents, limited to capability of participating in insurance activities or maintaining the life insurance contract due to people who have low comely income, and increased the compensation costs of non-life insurance.Therefore, the growth of about 10000 billion VND costs of insurance activities and sale costs of Prudential was an obvious consequence. Thirdly, the 24. 6% rise of gold prices also created psychological allocation of the insurers. The stock market and real estate was bleak which reduced investment opportunities and profitability of the insurance business and even generated difficulties for making provision for diminution in value of investment in a relatively large number.And finally, in 2011 The Resolution of the Government about the credit crunch, tightening expenditure and government investment has decreased demand for property insurance, construction and installation of new assets purchased. To conclude, because of several reasons involved The 2008 Financial Crisis, inflation rates, the increase of gold price and Resolution of the government led to a bleak business image of Prudential in 2011 compared to 2010.However, they did a great job in the insurance industry in this year and the evidences proved this is Prudential was the market leader of this field with insurance revenue increased by 12% with the biggest market share and being the number one company in this major. PART 2 CHALLENGES OF PRUDENTIAL VIETNAM IN 2012 Problems of Prudential in 2011 mostly referred to the costs of business activities and the degradation of the economy. However, in 2012, its main mission is to fix these problems and to take advantage of new opportunities in the market to improve its business.In 2012, the inherent difficulties in 2011 still continue, the risk of high inflation, the government undertook to restructure the economy, in which the focus of restructuring banking, securities and insurance will affect the insurance market. Property insurance market is predicted slowing down because of tightening credit, expenditure management and government investment spending forced the non-life insurance companies have turned to market development, non-property insurance products.Moreover, many businesses have to limit their production or stop working because of difficulties in accessing to bank credit which led to an increase in the number of unemployed workers and reducing income. Hence, these determinants generated bad personal effects on the demand of life insurance. Furthermore, the stock market and real estate do not have any signals of recovery which makes insurance companies being more cautious with investment in this area.And last bu t not least, The Finance Ministry urged the insurance businesses to thrift, cut costs by 5% 10%, rearrange insurance companies, restructure the insurance market, improve the business insurance effectiveness, risk management, customer care and upgrade competitive capacity. Although 2012 is expected to continue to be a difficult year for the life insurance industry, based on the difficulties of the Vietnamese economy in general, but there are also positive signs bringing new development in insurance market and providing new opportunities for the life insurance industry, especially Prudential * The impact of a imited credit growth in the banking dodging is a positive factor to promote extensive cooperation between the banking system and insurance, also a positive signal for the strong improvement of banking and insurance products * The cost of an employer to purchase insurance for employees is calculated on pre-tax costs will set the stage for the life insurance products take a forwa rd step to businesses. Limitations of the health insurance system with lower benefits will be an opportunity to stimulate the development of life insurance products which have many benefits about high quality health care and health insurance product lines with high value. To sum up, taking good reactions to overcome these difficulties and take advantage of the opportunities above, Prudential will conduct a successful business in 2012. APPENDIX http//www. vii. net. au/Company/BoardofDirectors. spx http//www. investor. prudential. com/phoenix. zhtml? ID=1099317&c=129695&highlight=&p=irol-newsArticle http//thuvienluanvan. com http//timluanvan. com http//www. prudential. com. vn/ Principles of microeconomics (2003 ) Mankiw Principles of microeconomics 2ed (2001) Mankiw Economics give 7th John Sloman Alison Wride GROUP MEMBERS Nguyen Hoang Tuan Anh Le Xuan Chanh Duong Le Hoang Gia Nguyen Kim Khanh Vo Thanh Tung Nguyen Minh Hai

Tama Speed Cobra Pedals Review

Camco, DW and Ludwig have all produced such beasts, as has Japanese tucker giant Tama. Its Iron Cobra pedal is truly a drum world icon, having been relied on by countless big-name artists on the worlds biggest stages over many years. But instantly comes a new pretender in the form of the Speed Cobra, with features borrowed from its well-regarded older sibling and a host of innovative design tweaks to boot. Tamas tagline for the Speed Cobra is Extreme Velocity, undecomposed Power.As such the Speed Cobras new features have both simple goals in common to increase speed and to increase aggressive response. Tama points out that these two aims have traditionally been mutually exclusive, with fast pedals losing some power, and powerful models reacting slower than some would like. So what solutions do Tama offer? Well to start with, a straightaway overview of the features which the Speed Cobra shares with the Iron Cobra.Such things include the Oiles bearing hinge (as used in the aerosp ace industry no less), the patented Cobra Coil spring which is located beneath the footboard to quickly return it to its default position after each stroke and the Vari-Pitch beater holder that enables adjustment of the footboard link angle independently of the beater angle. To that already impressive mix, the Japanese company has added several significant new features. The first and most obvious of these is the Fast Foot footboard.Longer than on the Iron Cobra, the Fast Foot board is designed to increase speed of response but at the same time require less effort than previous designs. In addition, the face of the board is fine-tune to reduce friction, which Tama reckon will improve control. On top of this theres an impressive new bearing assembly in the shape of the Fastball bearing on the end of the drive shaft, a true round sprocket (which Tama have named, brilliantly, LiteSprocket) thats evidently 40 percent catch fireer than the Iron Cobras, and the new Projector Beater.Th e beater allows the choice of compress or wide striking surfaces simply by changing the head angle go for punchy, defined attack with the former or a fatter, untasted response with the latter. All this talk of new features (and we havent touched on the chain drives new Recessed Setting which increases the angle of attack for super speed and light serve, nor the new Super Spring, designed to offer less resistance at the beginning of the pedal stroke) has left us little space to discuss the veritable build quality of the Speed Cobra.Fortunately, little space is required for this, as it is stunningly good. The Speed Cobra is beautifully engineered and does the Cobra name proud. If your eyebrows headed skyward at the number of dodgy feature names Tama has bestowed on the Speed Cobra, a word of warning. For sure, its easy to dismiss Speed Spring or LiteSprocket as marketing waffle, but when pressed into action the Speed Cobra does a fantastic job of silencing the cynical. For start ers its an incredibly smooth-rolling pedal.An objective appraisal of the impact of the new bearing mechanisms, for example, is well out of the scope of a surveil like this, but subjectively it feels wonderful. .For metal drummers dishing out high-bpm double bass battery, the Speed Cobra could be your new best friend. But thats not to say Tamas starter motor is a one-trick pony. Its so well-conceived and built with the kind of near-endless adjustment that high-end pedals offer these days that it could be pressed into service in any genre with aplomb.

Jekyll and Hyde

Jekyll and Hyde Essay In the overbold Jekyll and Hyde, Stevenson the author, uses foreshadowing to hint at whats to come later on in the book. ternion examples that are in the book are how Jekyll and Hydes penmanship is very alike and that Hyde has a key to Jekylls lab and that all of Jekylls servants must follow Mr. Hydes exact orders, and also that Hyde is also Jekyll. All of these examples foreshadow what happens later on in the book. In the beginning of the book Jekyll tells Utterson to read his leave because Jekyll was very ill and was going to die.Utterson read the will and asked Jekyll why he left all of his stuff to Hyde. Utterson didnt know Hyde but meets him later on in the book. Jekyll said that Hyde is his friend and he can trust him. Utterson agreed with it and said he was watching out for Jekyll. Utterson only cares because Jekyll if one Uttersons long time friends. This foreshadows if Jekyll loses his legal side then his evil side will take over and cause trouble. In the book Utterson who is Jekylls friend who is also a attorney finds a letter that is from Hyde.The letter was intended for Jekyll from Hyde stating Jekyll has many ways of escaping and that Jekyll shouldnt be concerned about Hyde. Once Utterson finds the letter he brings the letter to manus professional and tells him that Hydes handwriting is very close to Jekylls handwriting. This foreshadows for when they find out that Hyde is the bad side of Jekyll. In chapter two Utterson runs into Poole who is one of Jekylls servants.Poole says to Utterson that Hyde has a key to Jekylls lab and that all of Jekylls servants including poole must do anything that Hyde tells them to do. This is foreshadowing because Hyde as we know is Jekyll, so when someone asks Jekyll where Hyde is he says he isnt around because he cant be two people at the same time so he has no choice but to make out a false story. Foreshadowing is a literary device that the most of todays authors use in their books and essays. To counsel additional while developments within the story.It is sometimes an occasion of death or a revelation of a characters temperament or the rest very. Within the novel called Strange Case of Dr. Jekyll and man. Hyde, foreshadowing was wont to its perfection. These 3 correct instances wherever Jekyll and Hydes handwriting is comparable. Hyde contains a key to Jekylls laboratory which all of Jekylls servant should adjust man. Hyde provides many examples of foreshadowing in Stevensons book called The Strange Case of Jekyll and Hyde.

Globalization †Has Globalization Made The World More Or Less Secure Essay

The world is evolving and in the last few decades, some of the study changes build up believe taken place in the world. Out of the many changes, one of the major trans varietyations that collect taken place is what is referred to as globalisation. globalisation has taken over the world by storm and reduced large distances it has resulted in many changes in the last decade and has been hold uped and promoted by the advent of technology.The world has turned into a global village which is so small that distances no longer reach out much importance. Globalization is not a single concept but one which has various aspects like technological, economical, heathenish and societal and each one of its ratio has a broad scope. Since, the world is now interconnected because of globalization, this has facilitated and created opportunities in different aspects, but has excessively resulted in increase competition and many insecurities.In this essay, we runner discuss globalization and explain what it is, discuss briefly some of its drivers, then discuss some of the non state actors and the impact of globalization on the world in terms of security. Globalization Globalization can be defined in various ways. It is the impact where extension of connections takes place on a global basis, creating a social connection of life at a global level and resulting in the fusion of global societies. The term is comprised of different large processes the definitions thus as well vary according to what is emphasized in the description.With respect to the true meaning of the word, there is difference in opinion as to what it actually refers to as it whitethorn indicate actual processes as they take place in life, thoughts which validate the course of action or simply the manner in which stack form perception of these processes. Globalization is thus understood through the different definitions that exist and each of these definitions articulate diverse considerations of glob al change brought about by the phenomenon of globalization (Lechner, 1, 2001).Globalization generally is considered to be a procedure that increases the interconnectedness and inter reliance amongst the business and markets of the world (INVESTOR 2008). Thus, globalization results in bringing the markets and businesses of the world nigh linked to each separate, but the term is not limited to just an economical dimension, therefore, it would be to a greater extent appropriate to inculcate in it the aspects of politics, social, culture and ethics.Globalization may in like manner be considered as a practice of a social nature where the diminution of the limitations of geography on provisions of cultural and social nature occurs and wad are much conscious over time of the fact that limitations are diminishing (Waters, 9, 1995). Drivers of globalization Globalization has been driven by a number of factors which put one over broadened its scope even more. The increased pressure on c osts causes companies to move their resources to such places where they are more cheaply available.Many products have reached a certain level of market saturation in their respective markets, therefore, giving rise to the deficiency to search for new markets. Customers have become more savvy and quality conscious which has resulted in globally increased demands that have to be met. Governments at different places have introduced policies to promote globalization such as levied taxed and allowing open markets. There is development in technology every other day and many of these technological changes facilitate globalization (Briscoe & Schuler, 14-15, 2004).There are a number of trading blocs existing in different regions that place different rules for trading among countries and pave way for open shell out amongst them. The advent of internet has resulted in world wide communication and flow of information which makes information available at fingertips to be accessed at any time. The different cultures are more intimately integrated and boundaries have become sunless because of global communication and availability of different products and function like music, nutrient, clothing etc. the workforce is now more educated across the world and thus is able to meet the demands of globalization.Trade barriers have decreased and markets have become more open resulting in increased competition and thus searching for opportunities in overseas market to keep up with the competition. Finally, E-commerce makes a business global, the very moment it hosts its website online, making it available to customers across the orb (Briscoe & Schuler, 14-15, 2004). The major contribution to globalization has been made by technological advances which have paced up the process considerably in the last two decades, thus, facilitating traveling, communicating and conducting business on an international level.Amongst the many drivers of globalization, two major ones are advancemen t in telecommunication infrastructure and internet, which are a result of technological development (INVESTOR, 1, 2008). Non state actors Governments have a vital reference to cheer in the process of globalization, they should be able to plan and implement vital policies and treat important international bodies for expressing the views of their nations and obtain benefits by stressing their national interests.Though the states are important but there are different non state actors, among them are organizations which support globalization. Among these, World Economic Forum and World Trade Organization are the two most prominent ones. The World Economic Forum lacks the authority to make decisions yet it has great influence and high importance. This foundation has played its part in providing a forum for the networking needs of governments, business and non-profit leaders on a global level.On the other hand, The World Trade Organization is an entity which was created with the object ive of defining rules that will oversee global exchange and capital flows by victorious consent of its members and make sure that the established rules are adhered to by supervising the concerned acts of the member countries (INVESTOR, 1, 2008). The formation of WTO was meant to revolutionalize the scope of issues related to global trade and to separate the conformity of to its principles of international trade and settle conflicting disputes of the concerned domain by its dispute-settlement mechanisms (UN, 1, 2000).Another important non state actor is the UN which has a vital role to perform in globalization on the basis of its multilateral system, which is necessary for working globally as there is a need for cop mental process with each other across the globe. The multilateral system is important for the making of international policies that reflect shared values within the boundaries of law (WC, 1, 2004). But the UN has delegated its military force of dealing with social an d economic subjects to WTO, WB and IMF. The WTO has such approach that often leaves out developing countries in the decision-making.The decision making policy of the UN need to have more participation from the developing matters at least in the issues pertaining to them so that they may efficiently serve the needs of such nations. The economic and social powers that were shifted to other bodies are over burdening these bodies and resulting in inefficient mechanisms, therefore, these powers should be brought back with the UN but with proper policies and rules that may benefit all nations (Khor, 1, 2000). Implications of globalization Globalization is now a common feature of the world economy but it is not accepted by everyone with open arms.Though globalization results in opportunities and competition for everyone across the globe and provision of opportunities is good and if viewed positively, even competition is good as it results in more efficient production. But on the other hand , globalization cause passing for specific groups of people who do not have sufficient resources to cope with it. Consequently, in the increasing pressure of competition brought about by the inter-connection of their economies with the rest of the globe, these people are incapable of functioning efficiently and thus stand at a disadvantage (INVESTOR, 1, 2008).Globalization requires economic, social and political adjustments for people of different societies, areas or regions to accept and characterize their culture with an aim to integrate it with that of the rest of the world. It endorses global integration significantly and asks for elimination of existing barriers between different cultures. Those who support the process justify this kind of integration by resembling it with that of the significant technological information devices like satellites and computers.The critics argue that the proposed integration of cultural is in fact aimed at cultural invasion and will result in th e degeneration of cultural identity and its spirit whereas those who support it deem the declining of cultural boundaries as an ample indicator of modify communication processes, combination of societies and a signal of capacity aimed at amalgamation of civilizations. There is evidence of how the global socioeconomic forces belonging to the industrialized West have invaded these distressinger countries and may eventually cause them to lose the characteristics of their religion and society.It is observable that the means which assisted in bringing cultures nearer to each other may also have caused the exhaustion of many of these global cultures (Moussalli, 1, 2003). An overlook of the governance of globalization shows that it is dictated by strong players and countries, proper rules and institutions to regulate the different aspects like trade or finance are lacking and poor people and countries stand at a clear disadvantage as they are unable to eviscerate the benefits of the phe nomenon (WC, 1, 2004).Globalization has not helped in equitable development as there is an increase in disparities and poverty. Politically, even though the national boundaries are growing blurred but upon closer observation, we get to know that it is not a result of the free choice of people but a model imposed by stronger powers (Sabourin et al. , 56, 2000). The focus of globalization has stayed on the aspect of economy and business for a long time but it is about time to realize its effects on the personal and professional life of people.Although problems like poverty, human rights violation, unemployment were present even forrader globalization took over but these have been fuelled by globalization along with added disadvantage of social exclusion for many poor nations of the world. Deduction from many of the studies related to globalization shows that it is someway responsible for the growing inequality as the poor usually do not get to derive their share of the benefits offer ed by the phenomenon among such nations, the developing countries are most affected.But there are also studies that suggest the benefits availed by the poor from globalization when facilities are provided to the poor like credit access, technical know-how, social safety nets as income support and well targeted food aid (Nesvisky, 1, n. d. ). With respect to employment, we see that there has been a decline in pains intensive jobs which has consequently led to trim demand of unskilled labor and resulted in lower earnings for this group as compared to the skilled group of workers.Another phenomenon is that low-skilled jobs are moved over to countries which offer labor at lower wages this results in low demand for low-skilled workers. Liberalization of economy is of great concern to the developing countries, which have a motive to derive benefits from increasing trade and investment flows, yet they yield increased unemployment and inequality (Lee, 1, 1996).The phenomenon of child lab or is deeply interwoven within the context of the societies or households where it exists, it was present even before globalization in the developing countries and it is in these countries that the practice has increased even more because of globalization. In the developing countries, mainly those of the poor and consequently the pressure and need for working for women and children has increased and in certain cases become vital for survival.Due to inflation and decreasing social sector budgets, children have to work either to rest for the working mothers domestically or to add to the family income by working outside (Raman, 1, 1997). Global insecurities The economic, technical and social changes brought about by globalization have greatly affected the lives of people. Global insecurities have been brought about by the fast spreading of information and growth of the media industry globally which has affected existing identities and resulted in decline of social cohesion and cultura l diversity.Globalization is luffd only by a few powers and works in their favor, the strategies established by them doesnt take care to work and benefit the great majority of the people around the world. This has resulted in insecurity and ambiguity for the poor and the middle-classes (Raghavan, 1, 2000). There has been unsustainable development, excessive use of resources, negative impacts on existence of original communities, and a growing gap between the rich and the poor. Consequently, there are insecurities and social tensions coming from international and intra-national inequalities (Dass, 1, 2002).The insecurities are also ascribable to the international bodies, which are explicitly in absence of state influence as these are non state actors. Their rules are designed and implemented on a basis which considers regulation of the global activities in various aspects of life by and under the control of such influences which are not considerate towards the smaller powers and p lay by their own rules without having a respect for the weaker associates who are exploited (UN, 1, 2000). The insecurities have also been created due to a lack of widely available social services for every country and social class.Global insecurities are also related to hindrances towards the development of low income groups and therefore it is vital to erase distortions like inequalities and take measures to countenance the productive potential of low-income groups. Globalization definitely has its benefits but they are accompanies with new vulnerabilities, for this reason, there is confusion in the voice of public opinion about globalization. taking steps to reduce global insecurity and equally distributing the benefits may help in creating a sustainable support for the phenomenon (Brookings, 1, 2001).Conclusion Though globalization may be considered to be a positive phenomenon which has resulted in various opportunities for people in the form of increased trade, choices of goo ds, improved lifestyle, enhanced communication and other benefits. But, globalization has also created many adverse impacts upon the life of people like increased poverty in poor nations, unemployment and low wages for low skilled workers, turn of events education into a commercial activity and cultures losing their individual identities.There are non state actors like international organizations which integrate the different nations together and formulate rules to guide their path in the light of globalization, making the process a little smoother but on the same lines, the same bodies result in insecurities for people magnified by globalization. Thus, globalization is a phenomenon which apparently may look beneficial to all but actually benefits only the dominant powers and that too at the expense of weaker ones and unless something is done to stop the exploitation and mutually benefit everyone, insecurities will continue to grow.

Micro Environment

Chapter 1 Introduction 1. 1 Problem Background thither ar ab appear ternary billion people, half of the worlds population, life story on the income of less than two dollars a day. Among these s sackt(p) communities, angiotensin-converting enzyme child in five dollar bill does non live to see his or her fifth birthday. One try out in 2006 showed that the ratio of the income amid the 5% richest and 5% unequalest of the population is 74 to 1 as comp atomic number 18d to the ratio in 1960, which was 30 to 12.To enhance international development, the United Nations Organization (UNO) announced the millennium development goals,aimed to eradicate want by 2015. In this regard, smallfinance is the tier of financial development that has its primary aim to alleviate the poverty. Governments, donors and nongovernmental organizations roughly the world responded enthusiastically with plans and promised to work together towarfareds the realization of these goals.In the recognition of smallfinance, the UNO celebrated the year 2005 as a year of micro- belief, as a result this financing instrument is perceived worldwide as a very effective mean against longing and poverty, mainly in developing countries. smallfinance is a character reference methodology, which employs effective collateral substitute for short-term and working capital gives to micro-entrepreneurs. The level of a countrys poverty has long been linked with measures of its economic development. Little consideration was given to the social reorganization of the natural resources (e. say-so vs. alien ation of people, sustainable use vs. depletion of the environment). The economies with optimistic branch rate of Gross National Product (GNP) were measured by their poverty mitigation. This gratitude emphasized on the achievement of wealth and technology as a path for development and assumed that improved lives for all would be the natural consequence. Microfinance is non a new development. virt ually developed countries as well as developing countries particularly in Asia hav e a long history of microfinance.During the eighteenth and nineteenth centuries, in number of European countries, microfinance evolved as a sign of the informal banking for the poor. Informal finance and self-help have been at the put ination of microfinance in Europe. The early history of microfinance in Ireland can be traced rachis to 18th century. It is a history of how self-help led to financial innovation, legal backing and conductive regulation, and creating a mass microfinance effect. But the unpleasant regulations prompted by commercial bankin g brought it down.The so-called Irish loan funds appeared in early eighteenth as charities, initially financed from donated resources and offering interest free loans. They were soon replaced by financial intermediation between savers and borrowers. gives were granted on shortterm basis and instalments were scheduled on weekly basis. To enforce the repayment, monitoring process was utilise. In Latin America and southbound Asia, the microfinance has grown out of experiments, but the best-known start was in Bangladesh in 1976, following a wide disperse famine in 1974 and a hard-fought war of liberation in 1971.Its origin can be traced back to 1976, when Muhammad Yunus set up the Grameen capital box, as an experiment, on the outskirts of Chittagong University campus in the village of Jobra. The inspiration of Grameen wedge came to Muhammad Yunus question when he lent the equivalent of $26 to $42 to exploited women who were working as bamboo furniture maker. He saw that, they were enthusiastic about it and paid back their loans on time.In the beginning, Muhammad Yunus foc utilize the activities of Grameen swan mainly on savings and small loans, and decided to put the interest rates high enou gh to cover the expenses. Finally merely importantly, he asked borrowers to organize themselves in solidarity separates of five peo ple (who have to meet every week in order to repay their loans and to ex change their opinions). excite by the success of his experiment, he decided to spread out this system to opposite villages in Bangladesh. In 1983, this institution became a bank.Today it operates in almost 36000 villages and serves more than than 3500000 people. On 13th October 2006, the Nobel Peace Prize went to Muhammad Yunus and Gramen assert, the microfinance institution he founded 30 years ago. Muhammad Yunus has shown himself to be a leader who has managed to translate visions into practical action for the advantage of millions of people, not only in Bangladesh, but in any case in many other countries. Loans to poor people without any financial security had appeared to be an insurmountable idea. 2 Eventually we are in a situation, in which Muhammad Yunus, the fo infra of Grameen lingo, tells us the goal spread of micro-credit and finance, which give us the hope, may be our great-grandchildren beq ueath go to museums to see what poverty was like. This report is about microfinance and its contribution to the improvement and poverty alleviation for millions of the poorest people of Bangladesh. Micro finance has a huge impress on the lives of millions of poor people..Numerous scholars and NGOs have been working to take microfinance within the reach of poor people, who are still not benefited by the conventional financial system. It was believed that microfinance is not important for all people but most groups can benefit from this idea. In this report, we try to present evidence of the important contributions made by microfinance in the eradication of poverty by increasing the income generating activities, empowerment of poor people to access development services such(prenominal) as health and preparation, and reduction in vulnerability. 1. 2 Problem StatementIn the light of problem, downplay leads to the following problem statement, Impact of Microcredit on poverty alleviati on of the poor people in Bangladesh 1. 3 Objectives of the study To be meaningful, every work must have to formulate the objectives of the study. In the light of the topic of the report, the objective of this study is to show how microcredit works, by using group loaning methodology for reducing poverty and how it effects the living standard (income, saving access to health and education, etc. ) of the poor people in Bangladesh. 1. 4 Methodology of the studyData & information are mainly collected from arcminuteary sources. We have utilize several books, enquiry literatures, articles, journals and report, as secondary sources for our study. Internet sources were also employ as a secondary source for our report. Since the internet sources are less reliable, we have limited the use of those sources to the web pages of prominent organizations like Grameen Bank. Most of the sources, we move to use, are reliable and are acceptable almost everywhere. Nevertheless, from them we had to c hoose the most appropriate literature for our report.For this reason, we had to go through numerous references related to this topic, to find the fitted materials. Besides these, Google Scholars were also use to find the suitable research material. The keywords employ when searching for scientific articles and literatures were microcredit, microcredit and Bangladesh, poverty reduction and microcredit, Muhammad Yunus and microcredit,living standards and microcredit etc. 1. 5 Limitations Due to shortfall of time, the accuracy of information may not have been completely flawless. 1. Definitions and Key Concepts Microcredit It is a component of microfinance and is the extension of small loans to entrepreneurs, who are too poor to transfigure for traditional bank loans. Especially in developing countries, micro-credit enables very poor people to engage in self- fight projects that generate income, thus allowing them to improve the standard of living for themselves and their families. want mendicancy is a condition in which a person of a commumity is deprived of the basic essentials and necessities for a minimum standard of living.Since poverty is understood in many senses, the basic essentials may be material resources such as food, safe dringking water and shelter, or they may be social resources such as access to information, education, health care, social status, political power, or the opportunity to develop meaningful connections with other people in society. According to the World Banks (1980 ) definition of poverty, condition of life so characterized by malnutrition, illiteracy, and disease as to be beneath any reasonable definition of humankind decency. utmost(a) indigence/Absolute PovertyExtreme poverty is the most severe state of poverty, where people can not meet their basic needs for survival, such as food, water, clothing, shelter, sanitation, education and health care. Eradication of innate poverty and hunger by 2015 is a Millennium Developm ent Goal set by UNO. To determine the number of extreme poor people around the world, the World Bank characterizes extreme poverty as living on the daily income of US $1 or less. It has been estimated that around 1. 1 billion people currently live under these conditions. Moderate povertyIt indicates the condition where people earns about $ 1 to $2 a day, which enables households to just simply meet their basic needs, but they still have go for many of the other things education, health care that many of us take for granted. Relative Poverty It means that a household has an income below the national average income. Micro finance Institutions (MFIs) A microfinance institution is an or ganization, engaged in extending micro credit loans and other financial services to poor borrowers for income generating and self-employment activities.An MFI is usually not a part of the formal banking industry or government. It is usually referred to as a NGO (Non-Government Organization). Chapter 2 Theoritical Framework 2. 1 What is microcredit? Microcredit is the extension of very small loans (microloans) to the unemployed, to poor entrepreneurs and to others living in poverty who are not considered bankable. These individuals lack collateral, steady employment and a verifiable credit history and in that locationfore cannot meet even the most minimal qualifications to gain access to traditional credit.Microcredit is a part of microfinance, which is the cookery of a wider range of financial services to the very poor. 2. 2 Features of microcredit Size loans are micro, or very small in size Target users micro entrepreneurs and low-income households Utilization the use of funds for income generation, and enterprise development, but also for community use (health/education) etc. Terms and conditions most terms and conditions for microcredit loans are flexible and delicate to understand, and suited to the local anaesthetic conditions of the community. Usually micro- credit is provided to a particular geographical area or community. Micro-credit funds are both(prenominal)times initiated in response to the needs of a particular group. Some loan circles and lending institutions require participants to attend ongoing business training and mentoring programs, which is not the case with traditional debt lending. Micro-credit is recognized as having increase risk and is treated as a separate class of product by lenders. Its mission is to help the poor families to help themselves to overcome poverty. It is targeted to the poor, particularly poor women. 2. 3Classification of microcredit I. Traditional informal microcredit (such as, moneylenders credit, pawn shops, loans from friends and relatives, consumer credit in informal market, etc. ) II. Microcredit based on traditional informal groups (such as, tontin, su su, ROSCA, etc. ) III. Activity-based microcredit through conventional or specialised banks (such as, agricultural credit, livestock credi t, fisheries credit, handloom credit, etc. ) IV. rural credit through specialised banks. V. Cooperative microcredit (cooperative credit, credit union, savings and loan associations, savings banks, etc. VI. Consumer microcredit. VII. Bank-NGO coalition based microcredit. VIII. Grameen type microcredit or Grameencredit. IX. Other types of NGO microcredit. X. Other types of non-NGO non-collateralized microcredit. Chapter 3 Major MFIs and their role in Bangladesh Back during late 1970s, when the Jobra experiment was underway under Professor M. Yunus, the Dheki Rin Prokolpa was initiated by the Bangladesh Bank in collaboration with the Swanirvar Bangladesh, and several other pilot schemes were initiated by a smattering of the NGOs who were active then.At that time, it was difficult then to remember that these initiatives would lead to a major micro-credit movement, which would make Bangladesh known to the rest of the world. Even during the 1980s, in spite of Grameen Banks success, the main discourse amongst development practitioners in Bangladesh centred on the desirability of micro-credit program as opposed to concientization. By 1990, unhindered experimentation in the fields led to a quiet resolution of the logical argument and the country experienced a massive expansion of micro-finance activities during the 1990s.This is borne out by the figures on the time path of MFI expansion (see Figure 1), pic Many studies and surveys have been carried out by different agencies regarding the working of MFIs and their impact on the poor people in Bangladesh. The agencies like Bangladesh Institute of Development Studies and World Bank have found strong evidence that functioning of MFIs have helped the people in collision their daily needs and at the same time building their assets.It has been stated in The World Bank stinting Review that microfinance has not only helped people to develop in their material capital but also in the human capital, by better access to he alth care and education system, and general awareness among the people about their rights and duties towards society. However, there are numerous MFIs working in Bangladesh at present so it is almost impossible to mention all of them. Therefore, we have chosen four of the most important ones and try to give the overview of them. 3. Bangladesh Rural Advancement Committee (BRAC) With a vision of a just, enlightened, healthy and democratic Bangladesh free from hunger, poverty, environmental degrad ation and all forms of exploitation based on age, sex, religion and ethnicity, BRAC started as an almost entirely donor funded, small-scale relief and rehabilitation project to help the country overcome the devastation and trauma of the Liberation War. Today, BRAC has emerged as an independent, about self-financed paradigm in sustainable human development with its motto ?Alleviation of poverty and empowerment of the poor. It is the largest in the world employing 97,192 people, with the twin objectives of poverty alleviation and empowerment of the poor. Through experiential learning, BRAC today provides and protects livelihoods of around degree centigrade million people in Bangladesh. Diagnosing poverty in human terms and recognizing its multidimensional nature, BRAC approaches poverty alleviation with a holistic approach. BRACs outreach covers all 64 districts of the country. 3. 1. Microfinance Programs of BRAC, at a Glance (Source BRAC Annual report 2005) Inception of micro finance create mentally 1974 political program coverage Districts 64,Thanas507 Total No of Area/Branch Offices 1,381 Total No of village Organizations 160,197 Total No of Members 4,837,099 Percentage of Women Members 98% Outstanding Borrowers 4,159,793 Cumulative Loan Disbursement 165,794 million (US $3,094) Members Savings 9,159 million (US 141 million) modal(a) Loan Size 9,452(US $145) Repayment Rate 99. 49% 3. 2 Grameen Bank The history of origin of Grameen Bank can be tra ced back to 1976, when Professor Muhammad Yunus, head of the Rural Economics Program at the University of Chittagong, launched an action research project to examine the possibility of excogitation a credit delivery system to provide banking services targeted at the rural poor.The initial activities started from Jobra village (adjacent to Chittagong University) and some in th e contiguous villages in the following years. Later in 1979, with the sponsorship of central bank and support of the nationalized commercial banks, the project was extended to Tangail, a district north of Dhaka. Later the Grameen Bank became an autonomous organization through the government legislation of October 1983. Today, Grameen Bank is mainly owned by the people whom it serves and they own 90% of its shares and remaining 10 % are owned by the government. 3. 2. 1 Microfinance Programs of Grameen bank, at a Glance (Source Gra meen Bank yearly report 2007) public figures of Members 7. 5 million Percent o f Women Members 97% Number of Canters 99,502 Number of Villages covered 59,912 Number of Branches 2,499 Number of Areas 81,334 villages Number of Zones 21 Cumulative amount Disbursed since Inception 256,497. 40 (Million Taka) Cumulative Disbursed during 2005 39,183. 49 (Million Taka) Amount of Loan gravid 27,970. 31 (Million Taka) Members 20,138. 7 (Million Taka) Non-Members 11,521. 19 (Million Taka) Portfolio Growth Rate 39. 66% 3. 3 Association for Social Advancement (ASA) ASA in Bengali means HOPE. ASA is a non-governmental organization based in Bangladesh, which provides micro-credit financing. It was established in 1978 by Shafiqual Haque Choudhury who is also the current chairman. Its functioning is basedon the institutional support system.Innovations and simplifications of staff training, monitoring and bookkeeping are the three areas responsible for ASAs ability to effectively manage established units and pursue bold produce initiatives simultaneously. Th is makes the operations smooth and efficient. This makes it simple and easy to operate both for the organization and for the clients, without the unnecessary delays of bureaucracy and red-tape. Its mission is to reduce poverty and improve the quality of life of the poor through the provision of qualitative and responsive micro finance services in an innovative and sustainable way. ASA offers a successful alternative microfinance model to that of the Grameen bank.ASA combines low cost operations and high growth to fuel its success. ASA continues to perfect the role of financial intermediation by developing a compartmentalization of savings p roducts that are quite successful at generating the necessary funds from local sources. The experiences of ASAs managerial dynamism and replication of its simple model have much to offer the diverse microfinance sector as it accommodates engage for quality Financial services by the poor masses. ASA is confident that a financially viable microfi nance sector that provides competitive financial services to its customers will be able to expand outreach at a pace similar to its own. 3. 3. Microfinance Programs of ASA, at a Glance (Source ASA Annual Report 2005) Inception of micro finance programme 1978 Programme coverage Evenly distributed over the country Total No of Area/Branch Offices 2,291 Total No of village Organizations or groups 178,904 Total No of Members 5. 99 millions Percentage of Women Members Not sex biased Outstanding Borrowers 4. 8 millions C umulative Loan Disbursement 33,082 million (Taka) Total Members Savings 3,036 million (Taka) Average Loan Size Taka 7,129 Avg. savings balance by members Taka 748 3. 4 Proshika Immediately after the WAR OF LIBERATION in 1971, a group of young men, who could carry through the inadequacy of the conventional development practices, began to plan development activities with an alternative appr oach. With an objective to contribute to rebuilding the war-ravaged co untry, they formed Proshika Manobik Unnayan Kendra (Proshika Centre for Human Development).The development process of PROSHIKA, one of the largest NGOs of Ban gladesh, started in a few villages of Dhaka and Comilla districts in 1975, although the organization formally took its first step in 1976. Proshika is an acronym of three Bangla words, proshikkhan (training), shikkha (education) and kaj (action). PROSHIKA envisages a society, which is economically arable and equitable, socially just, environmentally sound, and genuinely democratic. The main mission of PROSHIKA is to conduct an extensive, intensive, and participatory process of sustainable development through empowerment of the poor.Through empowerment, the poor are or ganized and made aware of the real causes of their impoverishment, a leadership is developed among them, their material resources are mobilized, income and employment is increased, and capacities are developed to cope with natural disasters. Empowerment makes th e poor functionally literate, enables them to take better care of their health, to get involved in environmental protection and regeneration, get elected in local government bodies and community institutions, and provides the poor with better access to public and common property resources. 3. 4. 1 Microfinance Programs of PROSHIKA, at a Glance ((Source PROSHIKA Annual Report 2005) numbers pool of Members 2. 7 millions Percent of Women Members Approximately 60% Number of Groups 148,039 Number of Villages covered 23559 Number of Slums 2102 Number of Households 2. 3 millions Number of primary Groups 148,039 Cumulative Disbursed during 2005 Taka 31,870 millions Number of gentility Centres Set Up So Far 53,616 Persons graduated with technical skills 1. 11 millions Chapter 4 Impact of Microcredit Program on Poverty Alleviation 4. What the microcredit clients do with the loan money In one of the countrys large formal MFIs, it was found that about sixty eight per cent o f the clients used 54% of their join loans for small trades. A few clients used 64% of the loan money for purchase homestead and cropland. A small number of clients used 67% of the loans to build new houses. Some spent 15% of the total loan for medical treatment of their relatives and themselves. Some spent 19% of the total loan money for consumption purposes. A few clients used 29% of loan money for sending their relatives abroad for jobs. A smaller number of clients used 18% of their loan for major repairing of their dwelling houses.A handful of clients used 42% of the loan for buying television sets, furniture and gold ornaments, while others used the loan money in buying rickshaws, livestock and lending to others in a modicum scale . In another large non-governmental organisation (NGO)-MFI, it was spotted that litre per cent of the clients used 95% of the total loan money in trading businesses like vegetables, grocery, fish, and betel leaves, etc. A few clients used 40% of the loan money in repaying occasional borrowed debts. Some clients used 35% in agricultural farming. Some used 37% of the total loan for buying livestock for rearing. A few clients used 41% loan money for redeeming mortgaged cropland.Some clients used 61% of the loan money for sending relatives abroad. Again some used 34% of the loan money for meeting the debts from moneylenders. Some clients used 15% of the total loans in repaying loan installments of other NGOs. Some clients used 17% of the loan for medical treatment. Some used 100% loan for house construction, while others used the loans for buying land, rickshaw vans and consumption purposes. Yet again in another large NGO-MFI in the country, about fifty per cent clients were noticed using 66% of the total loan in running their businesses. Several clients used 43% of the total loan for marriage sacrament of their family members.A few clients used 38% of the loan for house construction and repairing. Some used 32% of the total loan s in repaying loans of the local moneylenders. A few clients used 59% of the loan for various litigation purposes. Some clients spent 41% in food consumption. Some clients used 67% loan for weaving purposes. Others used the loans for medical treatment, buying livestock, cropland, taking others land for cultivation and repaying loan installments of other NGOs. In a mid-level MFI operating in the urban areas, cent per cent clients used 86% of the total loan in various types of businesses that include grocery, cattle hide, computer composing, photocopy service, commercial phone service, saree selling, etc.Some clients used 84% of the total loan for house construction. A few clients used 81% of the total loan in buying land in the villages where they hailed from. In a fine tiny NGO-MFI, some clients were found using 74% of the total loans for buying fishing equipment like nets and boats, etc. Some clients used 46% of the loan for buying livestock. A few used 74% of the loans as busines s capital. Some kept 52% of the loans as savings in the commercial banks, while others used the loan money for repairing houses and meeting medical costs. 4. 2 Impact of Microcredit The major objective of microcredit (MC) is to create income among poor households and thereby alleviate poverty.In this respect the question can be asked at two levels, first, whether MC leads to an improvement in income and second whether the increase in income is sufficient to lift them above the poverty level. There is also a third aspect related to the second that is whether poverty alleviation takes place on a sustained basis. Though most impact opinion studies examine the impact of MC on income, the analyses concentrated on mainly the first question. It should be mentioned that most studies consider the total impact on growth of income and do not examine whether a redistribution of credit fund has a redistributive impact on poverty and income of households 4. 2. 1 Findings of PKSF ME Study by BIDS Palli Karma-Sahayak Foundation (PKSF) licensed a longitudinal Monitoring and Evaluation Study (MES) which was conducted by the Bangladesh Institute of Development Studies (BIDS). Started in 1997, the studies were completed in 2001. The study covered 3026 sample households spread over 91 villages located in 13 of PKSF POs operable areas. A census was administered in late 1997, covering 19151 households in 91 villages. The first and the second round surveys under the study were administered in 1998 and 1999 and the third and final round survey was conducted in 2000. Some findings on the impacts of microcredit as presented here are gleaned from the reports and cover prepared by BIDS. The summary of the PKSF-ME Study by BIDS is shown in the Table below- Table Impacts of Microfinance (compared to non-participants) Broad Category Indicatiors Type of Change Cause of Change Economic Impact Income + Self employment activities Food Security + Greater access to cultivable land through th e rental market Wage (land poor) + Transport and other non-agril activities sup. by MC Employment (land poor) + better access to the land rental market Wage emoloyment in non-ag. sector Assets (land poor) + av. ow land size than non-participants larger operational holding impact of MF (poultry livestock, bi-cycles, rickshaw/van) Social and other Fertility and contraceptive use + program participation development impacts female methods dominate wellness and Nutrition + program placement effect Sanitation and drinking water + program participation Literacy and school enrollment + program participation of children Social mobility ? do not vary significantly Women articipation and HH + participation in a MC program welfare increasing womens income 4. 2. 2 Measuring the Impact of Microfinance Grameen Bank has been tracking the progress of its clients in achieving all ten indicators since 1997, and reports that 55 percent of its established members (Grameen annually surveys all clients who have been in the program more than five years) had crossed the poverty line by the end of 2004 pic (Source CIA World Factbook http//www. cia. gov/cia/publications/factbook/geos/bg. tml) This is an impressive achievement, and exactly the type of information that one might hope any MFI would be tracking. Though it might seem arbitrary to determine that achieving all ten indicators constitutes movement out of poverty, in fact all poverty lines are to some degree arbitrary, and they are meant to quantify whether or not families are meeting basic needssuch as those represented in the Ten Indicators. intentional that 55 percent of established Grameen clients never go hungry, have access to safe drinking water, and send their children to school is important to Grameen. Table 1 Poverty rates among Grameen Bank members vs. Non-participants, 1984-85 Grameen members Target non participants All households Grameen Comparison Grameen Compariso n villages villages villages villages Moderately poor (percent) 61. 0 83. 7 80. 4 61. 5 76. 3 Extremely poor (percent) 48. 0 76 74. 4 47. 1 54. 6 Table 2 Poverty rates among Grameen Bank members vs. Non-participants, 1996-97 All households Grameen Comparison villages villages Moderately poor (percent) 18 57. 5 Extremely poor (percent) 15 54. 5 Table 1 and 2 suggest that Grameen Bank members are substantially less poor than non-members, and that Grameen Banks activities affected the poverty levels of entire villages. The centerpiece of the findings of a survey is that every additional taka lent to a woman adds an additional 0. 18 taka to annual household expenditurean 18 percent return to income from borrowing. Notably, the returns to male borrowing were considerably lower, only 11 percent.The paper and the book reported a variety of wider impacts, including A one percent increase in credit to Grameen women increased the probability of girls school enrollment by 1. 86 p ercentage points. A 10 percent increase in credit provided to women increased the arm circumference of girls by 6 percent. A one percent increase in credit to women increased the height-for-age of both boys by 1. 42 percent and girls by 1. 16 percent. Microcredit is not merely an instrument for credit extension to the poor borrowers. It is a movement to emancipate the poor to alleviate their poverty, improve their quality of life, and build their capacity and awareness and to integrate them economically and socially into the mainstream of the economy.The benefits of microcredit go beyond the quantifiable ones, there are other benefits, which are not seen, but are evident in the socio-economic transformation of rural Bangladesh. Chapter 5 Conclusion We have come to the conclusions that there is a noticeable and positive impact of microcredit activities on the living standards, empowerment and poverty alleviation among the poor people in the society. If one can help, a poor perso n to stand on his own that cannot only bring about a revolution in their lives but also in the society. The hallucination of a healthy and educated society with no discrimination and biased can be achieved through this simple thought, the dream which seems to be coming accredited and becoming practical.The simple vision of one man, Muhammad Yunus has taken the shape of the revolution and has shown the ray of hope in the path of life to every human, irrespective of his background or status or position. The hope of a life that no one will sleep hungry, no one will die collectable to lack of medication, our children can read and write on their own and everyone will be the pillar of the society. Scope for further research The current study did not consider the reasons of motivation to join the microfinance program. Another area that has not been investigated is the difficulties that the borrowers face to repay the loan. These areas deserve to be studied by future researchers in the f ield. There is also another field, which is neglected in our study that the supply gap of MFIs.Actually, to what extent the MFIs are capable to deliver their service to the poor people. Further research could be conducted in this area and for finding the reasons for the gap between demand and supply in terms of microfinance services. References www. google. com Grameen Bank formal website (www. grameen-info. org/) ASA official website (www. asabd. org) BRAC official website (www. brac. net) PROSHIKA official web site (www. proshika. o rg/) Rahman, R. I. , 1994, Impact of Credit for the Rural Poor An Evaluation of Palli Karma Sahayak Foundations Credit Program, Report Nr 1207, BIDS, Dhaka. (found on the internet)The World Bank, 1996, Staff Appraisal Report, Bangladesh Poverty Alleviation Micro-finance Report 1, South Asia Region. (Found on the internet) Khandker, S. R, 1998, Micro-credit Programmes Evaluation - A Critical Review, IDS Bulletin of International Development Studies 29 (4), 11-19. (Found on the internet) Measuring the Impact of Micro? nance Taking Stock of What We Know (December 2005) by Nathanael Goldberg. (Found on the internet) Impact of Microfinance on Living Standards,Empowerment and Poverty Alleviation of Poor People A campaign Study on Microfinance in the Chittagong District of Bangladesh. -by Mohammad Arifujjaman Khan and Mohammed Anisur Rahaman.