Managerial Accounting Essay

Evaluation of Barclays Bank in India Essay Example | Topics and Well Written Essays - 2000 words - 1

Assessment of Barclays Bank in India - Essay Example After the deregulation and reconstruction activities taken by the Ministry of Finance and the Reserve Bank of India for improving the structure of Indian financial Industry, the banks in India are performing better in examination of other creating countries. Improving financial state of Indian individuals is another key factor for the achievement of Indian Banking Industry and other large scale monetary elements are additionally ideal for development of Indian financial segment. Be that as it may, because of predominance of Indian local banks, Barclays have astutely chosen its objective market for example the HNI and HRI customers. Moreover, it is additionally attempting to offer world class administrations to situate itself as a main worldwide bank. The procedure of globalization has impacted the whole procedure of human exercises and globalization of exchange and business in one of the most huge case for worldwide economies. It has additionally brought forth the worldwide financial segments the same number of banks from created nations are attempting to enter in the developing countries like China and India. The developing financial security and expanding extra cash of India, numerous worldwide organizations incorporating banks have entered in this market and these MNC banks are likewise encountering a quick development in Indian market (Arasu, 2008, p.274). This paper will endeavor to introduce an assessment of Barclays Bank, a main worldwide bank for its Indian market business. The essential target this paper is to assess the adequacy of Barclays in India utilizing various logical vital apparatuses. Barclays bank is essentially a UK-based global bank set up in over 330 years back, and for advertise extension, it has likewise gone into the vast majority of rising and created nations like Middle East, U.S.A., Asian nations, European nations (Barclays-a, 2011). Barclays bank went into the Indian budgetary market during 1970s and from that point forward, it has encountered huge development and achievement. In Indian market it offers retail just as business banking administrations providing food in excess of 400,000 clients and customers. It has opened its various financial units in the greater part of Indian cities.â

Small Business Preference

Small Business Preference Small Business Preference Feb 4, 2019 in Business Small Business Development Programs Starting a small business is becoming more popular in the USA. Being a veteran, it is always difficult to get into self-employment since the incomes give a small chance to have a start-up budget. The US Department of Labor has implemented some experimental programs for providing financial assistance and management advice to people who want to start their own small business. In this case, we will talk about a model airplane building and an aircraft remote control. In addition, the US Small Business Administration has developed special programs, which are offer consulting, training, and education to the clients. As it turned out, potential entrepreneurs more often experience lack of managing skills rather than lack of capital.

The Ethical Issues Of An Industry ( Or Company ) - 1494 Words

Assignment 3 Identify two of the main ethical issues of your industry (or your company). Recall from the lecture that the ethical Issues of an industry (or company) are behaviors, practices, or policies (e.g., company policies) that are thought to occur in the industry, and that raise questions about their ethics or morality because 1) they involve behaviors that harm or could harm others or oneself (either directly or indirectly); 2) they involve behaviors that violate or appear to violate or have the potential to violate one’s own moral standards or the moral standards of one’s society, and 3) they involve behaviors that if made public would normally produce in the agent the moral emotions of shame, guilt, embarrassment, and remorse. In identifying each ethical issue that pertains to your industry (or company), you should: 1. Describe the behavior, policy, or practice and how it relates to your industry (or company). ISSUE 2: Software Quality Assurance Software quality assurance is a challenging task. There are many questions raised by software being released with defects. What are the ethical responsibilities of a software vendor releasing software with bugs, especially if it is system-critical software, but also when releasing non system-critical software. It is an ethical issue when software vendor are not open about the quality of the testing, and be willing to share known defects in their systems. It seems that typical commercial software is created and modified, andShow MoreRelatedApple Inc. Ethical Issues1537 Words   |  7 Pagesmultinational technology companies founded in the United States. Because Apple has had great leaders and also have a great brand, the world is always focused on the company. In this paper, we are mainly going to discuss Apple’s ethical success and challenges. First I will discuss how Apple’s philosophy and organizational culture have impacted how it handles ethical decisions. Secondly, I will talk about why Apple’s industry is so competitive and how this could affect the ethical risk in Apple’s operationsRead MoreEthical Issues Of Marketing Field Of Australia1450 Words   |  6 PagesEthical Issues in Marketing Field of Australia Introduction: Ethics is the principle of differentiating between right and wrong. In business and marketing process, a number of ethical issues are involved that may have a positive or negative impact on the company. The term Ethical marketing is not only a marketing strategy but also a philosophy. It encourages a company representative to be honest, fair, and responsible in all advertising. It also includes communication skill, leadership skill, teamworkRead MoreThe Ethical Decision Making Of Coca Cola Company1266 Words   |  6 Pages5 Ethical Decision-Making LaKeshia Chaney Walden University Abstract Ethic decision-making is a fundamental of applied ethics, such as rights, justice, virtue, utilitarianism, and the common good. Ethics in organizations, leaders have to be aware of two ways of approaching the individualistic and communal approach. Moral rights are by standards that most people acknowledge. Decisions about right and wrong permeate everyday life. Coca-Cola Company is an example of a consequentialist theory thatRead MoreBusiness Analysis : Business And Marketing World839 Words   |  4 Pageswith an incessant competition, to find what customers need is one of the most key things that a company needs to identify. However, customers in the market are different in both physics and mental. Thus, customer segmentation is needed in order to create and focus the firms’ suitable strategies. Nowadays, ethical consumption is getting more interested by some customers. With a rising concern of ethical customers, it is important for the firm to understand these customers an d develop strategies toRead MoreEthical Issues Present in the Distilled Spirits Industry1684 Words   |  7 Pagesspirits industry is a prominent piece of the beverage industry as a whole. The alcohol industry is growing rapidly in foreign markets, especially in countries such as China and Brazil. In the United States alone, this industry generates over 3.9 million jobs and contributed about $8.8 billion directly to state and local revenues (The Industry’s Role section, para. 1). Team TOTs will discuss the ethical issues that are prevalent in the distilled spirits industry, pressures facing the industry as wellRead MoreWal Mart s Corporate Social Responsibility1723 Words   |  7 Pages14 Introduction Jeff Lebesch and Kim Jordan found the New Belgium Brewing Company ( NBB) in 1991 , the main aim of the company was not only to become profitable but to find the right balance between ethical , social and environmental responsibilities along side the profit motive . The company’s focus on energy efficient brewing processes and environmentally friendly technologies and practicesRead MoreEthics779 Words   |  4 PagesEthics in the Pharmaceutical Industry Business Law Ivy Tech Community College Tamara Baxter September 20, 2013 The pharmaceutical industry has a difficult task when it comes to doing the right thing, put people or profits first (Weber, 2006). To keep their operations operating they must approach a duties-based ethical approach because the lives of their stakeholders are literally at risk. A religious ethical standard would mean not to falsely proclaim that a drug does somethingRead MoreThe Driving Force Behind A Company s Financial Success Essay1251 Words   |  6 Pagesofferings that have value for customers† (Kotler Keller, 2012). Since marketing plays such a vital role in a business success, marketing manager and the company they represents has a fiduciary responsibility to consumers. Thus marketing managers has not only a moral but also an ethical responsibility to consumer, stakeholders and the company they represents. In simple layman’s term, ethics is a concept of what is wrong and right. For marketers, ethics is the working place refer to rules (standardsRead MoreEthical Consumerism Of Fast Fashion1750 Words   |  7 PagesHowever, the phenomenon of ethical consumerism in fast fashion is under-researched. This study explores current barriers to ethical consumerism in fast fashion. There is a body of research that investigate intention and the actual behavior of ethical minded consumers (Carrington et al. 2010; Beard 2008; Brandstà ¤tter et al. 2006; Kim et al. 2013) but not much has been done on ethical consumerism including the driving forces behind consumer behavior in in fast fashion industry. Data for the study wasRead MoreInternal And External Factors Affecting Mcdonalds1468 Words   |  6 PagesDue to globalization and increased competition in the fast food industry, a very complex environment is created for McDonald’s. There are various internal and external environmental factors affecting the functions of McDonald’s corporation and demands for new innovations. The factors are as follows: Internal Factors: Internal factors are the factors within the company, which affects the success and operation of business. The company can control these factors. Effective internal management is the

The Holocaust Holocaust Revisionism And The Holocaust

Skylar Traub Ms. Del Rosario Period 1 13 November 2017 Holocaust Revisionists Revisionism is a type of moral and intellectual plaque that has spread like wildfire. Historical Revisionists have created a conspiracy of mental dishonesty and outright lies. Deniers have influenced others to believe the Holocaust is a historical fraud. Their beliefs compromise people’s perception when dealing with the validity of historical facts. Although historical revisionists are trying to falsify history by claiming the number of Jews that died is extremely exaggerated, these deaths were systematically recorded and carried out by Nazi officials, giving way to strong evidence that the Holocaust did in fact happen. The Holocaust was a genocide that took†¦show more content†¦Deniers claim these chambers were too small and inefficient, thus making it impossible for them to be used as extermination facilities. If Jews died at all, revisionists insisted it was because affiliated bombing diminished the line of inventory to the concentration camp. Historical revisionists have truly made a mark on the world. Only 54 percent of the world’s population, surveyed by the Anti-Defamation League, has heard of the Holocaust. Additionally, East German children, who receive the knowledge of Jews suffering incredibly during the Holocaust, have never heard the word â€Å"genocide.† Another problem present in our society, is how people are not only viewing, but treating Jews. For example, some believe that Jews have too much power in the business world, while others protest that they are more loyal to Israel than the countries they live in. Some people even say that Jews talk too much about their experiences in the Holocaust. In conclusion, Holocaust deniers have a massive impact on the world. They are the ultimate insult to all Jewish people and Israel. Their attacks on history have the ability to determine how truth is spread from generation to generation. Revisionists need to understand that knowledge and memory are the keystones of our civilization, and that cannot be changed. Not only will they continue finding new ways to deny the Holocaust, but their conspiracies and beliefs will lead to continuedShow MoreRelatedTaking a Look at Holocaust Revisionism1459 Words   |  6 Pagesto the population of Missouri. This event is known as the Holocaust. During this genocide, the Nazi party in Germany tried to eliminate the whole jewish population. In the process of doing so they killed some six million innocent people. The Nazi Party nearly wiped out the entire Jewish population, leaving very few to carry on with religion and personal accounts of living through the Holocaust. For generations the facts about the Holocaust have been taught so that nothing like this terrible eventRead MoreDenial of the Jewish Holocaust735 Words   |  3 Pagesextermination of a national, racial, political, or cultural group.† A major part of the Holocaust genocide is denial. Holocaust denial is present in the United States, Europe, and Canada. These people, known as â€Å"revisionists† try to deny the extermination of six million Jews during World War II. The revisionists claim that there are no documents to prove the holocaust actually existed (Holocaust Denial n. pag). â€Å"The Holocaust, like evolution, is robustly supported and generally accepted by all but a fringeRead MoreAnalysis Of David Irving s Hitler s War Essay1508 Words   |  7 PagesThese actions of subverting the authority of science and academia is where the Holocaust revisionists come into the picture. Many of the most prominent revisionists derive their authority from their title as historians. Perhaps the most famous of these people is David Irving. David Irving was a renowned historian in his knowledge of Nazi Germany. He published multiple books that were incredibly detailed looks into World War II. Of his works, he is well known for Hitler’s War, The Destruction of DresdenRead MoreSpielberg s List And Roman Pola Ä ¹Ã‚Æ' Ski s The Pianist1366 Words   |  6 Pagesmovies, plays an important role in shaping the public’s opinions and understanding of the world. The Holocaust for example is a subject that has received a lot of media attention, including three Academy award-winning films in the past two decades. Most people know little about the Holocaust and these films serve as the primary sources of their knowledge, therefore, how they perceive the Holocaust is directly related to the way it is portrayed in these popular movies. Steven Spielberg’s Schindler’sRead MoreThe Holocaust Denial1324 Words   |  6 Pagessociety to improve. The Holocaust, one of the most w ell-known history events, represents a perfect historical example of discrimination and racism. However, a number of people started to deny the known facts of the Holocaust and even the event itself. Despite of what these people say and how convincing their reasons are, this piece of history is to be protected from being revised; evidence of the Holocaust strongly proves the existence of the Holocaust and that Holocaust denial is a sheer absurdityRead MoreAnalysis Of Alan Bennett s The History Boys 1383 Words   |  6 PagesDiscuss in detail Bennett’s dramatic techniques from page 70 â€Å"boys come in† to â€Å"the bell goes† on page 74 and consider how this passage might be viewed as a significant and dramatic moment in the History Boys. In Alan Bennett’s, The History Boys, the Holocaust Scene is vital to the development of drama in the play. Bennett uses the conflict in this scene to develop the significance of inter-character relationships. It is a significant moment because it forms a climax to the antagonism between Hector andRead MoreThe Significance Of Inter-Character Conflict In Alan Bennetts The History Boys1346 Words   |  6 PagesIn Alan Bennett’s, The History Boys, the Holocaust Scene is vital to the development of drama in the play. Bennett uses the conflict in this scene to develop the significance of inter-character relationships. It is a significant moment because it forms a climax to the antagonism between Hector and Irwin, influencing the boys to take sides, and it is dramatic because of the uncomfortable and impermissible topic chosen. The downfall of Hector has a striking impact upon the audience. The last timeRead MoreWhy The Holocaust Was A Myth?1986 Words   |  8 Pages Why is the Holocaust denied to this day despite the evidence? The Holocaust was the largest genocide of the twentieth century and is one of the most well-documented events in history. But even with all the evidence, the holocaust is still denied to this day. People who deny the Holocaust ignore the evidence and believe the Holocaust was a myth. So why exactly do people say that the holocaust was a myth? Is it because it was to terrible to admit it actually happened? Or do people really think itRead MoreHolocaust Denial4708 Words   |  19 Pagesï » ¿Introduction Even though Holocaust denial was not a new-fangled phenomenon in Germany at the end of the 1980s, it was not before this period that it was given such public attention. For the duration of the late 1980s and near the beginning of the 1990s Germany became the arena for perhaps the most combined push for promotion that the Holocaust denial interest group has ever tried. Besides the annual conferences of the Society for Historical Review in California, Holocaust deniers did not and by andRead MoreThe Rights Of The European Union1190 Words   |  5 Pageswhich right to be forgotten laws are based. This paper will examine the views of three stakeholders on right to be forgotten policies: The United States Government, the European Union, and myself. Index Terms—constitution, google, law, privacy, revisionism, technology, transparency INTRODUCTION T he European Union has come under fire recently for it’s passage and enforcement of what is referred to as â€Å"the right to be forgotten†. These laws have given far-reaching power to individuals under the auspices

Impact of Hrd Mechanism on Emotional Intelligence Free Essays

string(99) " among them and to use this information to guide one’s thinking and actions† \(1990\)\." Firstly, we cannot express sufficient appreciation to our advisor Mrs. Koran Taker. We are fortunate to have such a passionate and exemplary advisor. We will write a custom essay sample on Impact of Hrd Mechanism on Emotional Intelligence or any similar topic only for you Order Now Her patience and support enabled us to overcome the challenges encountered by us during our entire journey as an MBA student. She has read our dissertation literally word by word and provided insightful and invaluable feedback that we would not have been able to receive from anyone else. We have truly learned from her how to live as a scholar, a teacher, and a Mentor. We also thank our H. O. D. Ms. Supreme Sinai, for building our inundation as a researcher and teaching us how to write a dissertation. We owe a debt of gratitude to all of the Lovely Professional University colleagues in the program. We also want to thank members of LEAP for their prayers and support. They treated us like their own family. Our love and appreciation go to our family for their endless support. Special thanks to our parent’s, who have provided all of the wonderful opportunities in our life. Executive Summary Emotional intelligence is gaining prevalence in all the walks of personal and professional lives of individual as well as the organizations. With the increasing individual adapt better and manage a meaningful work life with enhanced values and ethical standards. It is desirous on the part of the organizations to tap this potential and lead the company towards an ethical work environment leading to effective performance and heightened satisfaction. With this forethought in mind, the current paper sets out to examine the relationship between the dimensions of emotional intelligence and HARD climate at workplace in Indian Banking sectors. The results suggest that emotional intelligence and its dimensions are significantly related to HARD climate at workplace and variables of emotional intelligence namely, elf awareness, interpersonal connectivity and emotional regulation have a predictive relationship with HARD Climate at workplace. In this study, it was investigated whether there is any impact of HARD Climate on emotional intelligence (II). A survey questionnaire was administered to 1 50 employees from different Banks in Calendar. In this context, HARD is playing an important role in the organizations. HER meaner employees in organization, who work to increase the profit for organization. Development, it is acquisition of capabilities that are needed to do the present Job, or the future expected Job. HARD is the process of helping people to acquire competencies. Climate, this is an overall feeling that is conveyed by the physical layout, the way employees interact and the way members of the organization conduct themselves with outsiders. Organizational climate is a set of characteristics of an organization. To survive it is very essential for an organization to adapt itself to the changes in the environment and also continuously prepare their employees to meet the challenges; this will have a positive impact on the organization. The HARD climate is changing due to some factors which are influencing change in the business scenario which are globalization, merger and acquisitions, technology, outsourcing. The HARD climate plays a crucial role in determining organizational performance. The objective of incorporating HARD mechanism is to develop the individual as a person to continuously recognize, develop and use their potential. This will develop the individual in relation to their Job and their future expected role. The overall impact would be the development of the organization as a whole to promote capabilities of the employees. This would create a climate conducive to accomplish organizational effectiveness. The success of an organization largely depends on the favorable HARD climate. Existence of a favorable HARD climate will give space to a supportive atmosphere which allows the employees to improve their skills. A proper functioning HARD climate is like an investment on employees which will lead to higher returns in terms of increased performance. The employee giving higher performances will definitely be content with his Job and personal development and will step to the other level of emotionally stable. HARD mechanisms are required for the growth of a company and the idea is that the entire process should be transparent and known to all the employees. The real concern is to find out the area which needs which needs improvement. There are many HARD mechanisms available to develop the competencies and skills of employees and improve the overall organizational climate. The HARD mechanisms are like performance appraisal, potential appraisal, feedback [5] resource planning, recruitment, selection and placement. Besides this, trend in the organizations is changing these days. To attain personal and organizational success the factors required go beyond the intellect, such as maturity, empathy, communication, stability. To understand and manage emotions is very much important when working in an organization. We are all aware of IQ or intelligence quotient. But we are not much familiar with emotional intelligence. Emotional intelligence was popularized by Daniel Coleman in his book, Emotional Intelligence. The concept of emotional intelligence is a broad term that encompasses a wide range of individual inherent skills and capabilities, usually called soft skills or inter and intra-personal skills, which fall outside the category of that are outside the conventional skills and knowledge. Emotional intelligence is more like being fully acquaint of our own emotions and behavior pattern and their dynamic relationship with traditional intelligence. The emotionally intelligent person will be able to handle pressures and adapt to the continuous work related changes. Both emotional intelligence and cognitive intelligence are like two sides of the coin which are really essential for the human mind. It is said that if one is lacking the other part has to be compensated to accustom and survival. Since 1990, Peter Salvoes and John D. Mayer have been the leading researchers on emotional intelligence. In their influential article â€Å"Emotional Intelligence,† they defined emotional intelligence as, â€Å"the subset of social intelligence that involves the ability to monitor one’s own and others’ feelings and emotions, to criminate among them and to use this information to guide one’s thinking and actions† (1990). You read "Impact of Hrd Mechanism on Emotional Intelligence" in category "Papers" As they defined emotional intelligence, they also proposed four branches of emotional intelligence which are perceiving emotions, reasoning with emotions, understanding emotions and managing emotions. The idea is to see that if good HARD climate helps in retaining the employees and increase their level of motivation to perform better and stay in the organization. The purpose of the study is to study about what are the implications of HARD mechanism in developing emotional intelligence among the employees. Significance of the Study This study is one of the first known attempts to uncover the relationships among El and HARD climate in empirical research. Because it is currently difficult to find an empirical study that integrates these concepts, this study can provide foundational knowledge for further research on the topic. The results of this study will also have implications for practitioners in the field of human resource development. Though applications of El are already actively used in training and development programs after the concept was popularized by Coleman (1995), the problem is that there is not efficient scientific evidence for the effect of El in the workplace (Matthews et al. , 2002). Though there are a few studies that have found significant relationships considered neither the contextual factors of the work settings nor the effect of emotional intelligence experienced by workers. Thus, it is still not certain in which circumstances El and HARD climate have an effect on work outcomes. This study will identify the contextual factors that interact with the employee’s El to bring about consequences in the workplace. Therefore, human resource development restrictions may be able to apply the findings of this study in exploring the possibilities of designing and implementing El development programs. There is still a lack of research on the construct in the field of human resource development . F significant relationships among employees’ El are found in this study, practitioners may apply this finding to explore the possibility of reducing employees El . Limitations of the Study 0 Because this study will be conducted in specific work settings, the findings may not be applicable to a Job environment with different characteristics. 0 Also, the results of his study may not be generalized to employees in organizations that have a different culture because emotion display rules are a function of societal norms, occupational norms, and organizational norms. In addition, caution is needed when interpreting the results of this study. Even if an individual’s El is found to have positive effects, this does not necessarily imply that people with high El should be selected when organizations hire employees. Nor will this [7] research provide any evidence about whether El development programs are possible or effective. 0 Finally, there is much controversy over whether emotions can be assured empirically. Thus, the limitations of the instruments used in this study may have an effect on the usefulness of the results in a workplace setting. Objectives:o To study the implication of HARD mechanism on emotional intelligence. Hypothesis:Ho -There is no significant relation between HARD mechanism and emotional intelligence. Hal- There is a significant relation between HARD mechanism and emotional intelligence. Definitions of Key Terms Key terms in this study are defined as follows. Emotional intelligence (E’) :-is the ability to identify, assess, and control the emotions of oneself, of others, and of groups. It can be divided into ability El and trait El. Ability El is usually measured using maximum performance tests and has stronger relationships with traditional intelligence, whereas trait El is usually measured using self-report questionnaires and has stronger relationships with personality. Emotional awareness:-emotional awareness is the first step needed towards getting an emotion in order to be able to get rid of it. For example you might be feeling happy while being with your friends then suddenly and out of no where your mood swings. This didn’t happen out of nothing as it seemed but you Just didn’t notice the trigger hat resulted in the mood swing because you didn’t develop proper emotional awareness Self-assessment: -Self assessment is the process of looking at oneself in order to assess aspects that are important to one’s identity. It is one of the motives that drive self-evaluation, along with self-verification and self-enhancement. Self-confidence:-self confidence relates to self-assuredness in one’s personal judgment, ability, power, etc. Self-control:-Self control is the ability to control one’s emotions, behavior, and desires in order to obtain some reward, or avoid some punishment. Presumably, some smaller) reward or punishment is operating in the short term which precludes, or reduces, the later reward or punishment. Empathy:-Empathy is the capacity to recognize emotions that are being experienced by another sentient or fictional being. Performance Appraisal:-let is a method by which the Job performance of an employee is evaluated. Performance appraisals are a part of career development and consist of regular reviews of employee performance within organizations. Feedback:- Information about reactions to a product, a person’s performance of a task, etc. , used as a basis for improvement. Social competence:-Social competence is a complex, multidimensional concept consisting of social, emotional (e. G. , affect regulation), cognitive (e. G. , fund of information, skills for processing/acquisition, perspective taking), and behavioral (e. . , conversation skills, proboscis behavior) skills, as well as motivational and expectancy sets (e. G. , moral development, ceaselessly) needed for successful social adaptation. Social competence also reflects having an ability to take another’s perspective concerning a situation, learn from past experiences, and apply that learning to the changes in social interactions. Personnel competence:- The set of individual personality traits which enable individuals to manag e themselves independently and capably. Emotional Intelligence: Conceptual framework Concepts of intelligence have evolved over the last 100 years. In the first half of the 20th century, there was a common belief that the adequate measure of IQ test. But looking into the findings of current researches, it is said that the IQ scores as the measure of intelligence need to be interpreted with caution. Academics as well as the practitioners have conveyed that the intelligence of human beings and its implications for the organization should be considered from the cognitive and emotional perspectives. They say that as compared to cognitive intelligence, it is the emotional intelligence that has greater relevance to organizational successes. In 1900 Alfred Binge begins administering tests to French school children for intelligence and first large scale administration of IQ test was held to US army. The notion of El can be traced to Thorniness (1920) concept of social intelligence, Heckler’s (1940) proposition conceptualization of of non-intellective abilities as well as Gardener’s (1983) personal intelligence. However, the term of ’emotional intelligence’ (E’) owes its origin to Salvoes and Mayer (1990). They originally defined emotional intelligence as the ability of an individual to monitor one’s own and others emotions, to discriminate among the positive and negative effects of emotion and to use emotional information to guide one’s thinking and actions. Then emotional intelligence has been popularized by Coleman (1997), the concept is derived from social intelligence Monsoons and Indris, 1999). Unlike abstract intelligence, which refers to the ability to understand and manipulate symbols, or concrete intelligence, social intelligence refers to the ability to understand and relate to people. According to the Coleman†s emotional intelligence model he identifies four emotional intelligence domains and 19 associated competencies. These four domains are self awareness, self management, social competence and social management El is also can define as an individual’s ability to accurately perceive reality so as to understand and regulate their own emotional responses as well as adapt and respond to others (Mayer and Salvoes, 1997; Paltrier, 2002). This emerges as four interrelated social skills, grouped around knowledge, perception, regulation and mineral intelligence (Mayer and Salvoes, 1997). Leaving aside general intelligence, the other components relate to the individual’s ability to manage their emotional response (Coleman, 1998; Mayer and Salvoes, 1997). [10] Emotional perception allows individuals to respond congruently, as they recognize their own and others† emotional responses. Emotional regulation meaner individuals self-monitor the intensity and direction of their own and others â€Å"emotional responses, as Paltrier (2002) highlights, allowing them to moderate negative emotional reactions and remain positive. Regulation, the third component, allows individuals to utilize their emotional knowledge to promote creativity and flexibility, framework be personalized in the following ways. First, individuals who understand their own emotions can more accurately identify their responses and so change if need be. Second, the intellectual use of emotions meaner individuals† cognitive decisions are more acute, so they are better able to assimilate information, make Judgments or be creative and solve problems. This suggests emotionally intelligent people are more self-aware regarding their strengths and limitations, and because of this they are claimed to be more confident, optimistic, legible, innovative and comfortable with new ideas (Black, 1999; Coleman,1998; Mayer and Salvoes, 1997). Clearly,employees offer advantages to contemporary organizations wanting to gain competitive advantage through adaptability, rapid response and change innovation. At this point, we must acknowledge that studies of emotional intelligence are in their infancy, with some questioning the veracity of the concept (Hunt, 2001) and its measures (Becker, 2003). Relationship of Emotional Intelligence with other organizational factors Factual Ihram. Et. Al. (2002) investigated the relationships of the five dimensions of emotional intelligence: self-awareness, self-regulation, motivation, Emma-thy, and social skills of supervisors to subordinates’ strategies of handling conflict: problem solving and bargaining. Data (N = 1 ,395) for this study were collected with questionnaires from MBA students in seven countries (U. S. , Greece, China, Bangladesh, Hong Kong and Macaw, South Africa, and Portugal). The results in the U. S. Suggested that self- awareness is positively associated with agglutination, empathy, and social skills; self regulation is positively associated with empathy and social skills; empathy and social kills are positively associated with motivation; which in turn, is positively associated with problem solving strategy and negatively associated with bargaining strategy. Differences among countries in these relationships were noted and implications for organizations discussed. [1 1] Brewer,et. L(2012) examined different models of emotional intelligence with respect to capability, competency, and traits. It offered a comparison of emotional intelligence with other leadership styles and the associated skill sets which can be both learned and taught. It discussed the implications of emotional intelligence as to organizational culture wherein examined are the applicability of business models with other theories of emotional intelligence. Detailed are information on the ability and mental model of emotional intelligence which can be achieved at four levels from infancy to adulthood. Gulling trip also carried out study on emotional intelligence on the different model of emotional intelligent with respect to capability, competency,trait. Laura. Et. Al. (2011) examined the effects of emotional intelligence on getting along and getting ahead leadership behaviors at work. The results found room an analysis of a dataset derived from a 3600 leadership behavior survey effect on collaborative behaviors at work, and collaborative behaviors directly affect the inspirational side of leadership performance. Floret Elizabeth also visualized the study and examined the effects of emotional intelligence on getting ahead leadership behavior at work. Gardenia. Et. Al(2012) conducted a study to investigate the relationship between emotional intelligence and agility of the workforce in order to determine how indicators of emotional intelligence facilitate the agility at the individual level. Statistical Population of this study included managers, supervisors and staffs of food companies and the simple random sampling method was used. The survey results have showed that emotional intelligence factors have an impact on workforce agility. The results also have revealed that factors which are related to interpersonal competence (Self-awareness, self-control and self-motivation) have more effects on the agility than factors which are related to social competence (empathy and relation management) and have a greater role in workforce agility changes. Toadied Massey. Et. Al (2010) assessed a study to investigate the relationship twine emotional intelligence and variety of organizational powers among them is one of the research goals. Pearson correlation and a questionnaire were the tools used to collect data. The results shown that there is a directionally positive relationship between emotional intelligence and the tendency to admittance of expert and referent power. Moreover, there is a reverse relationship between emotional intelligence and the tendency to admittance of coercive power, legitimate power and reward power. Should Stayed. Et. Al (2010) demonstrated a study to measure the effect of emotional intelligence and [12] ender on Job satisfaction in three different governmental organizations in Egypt (Information and Decision Support Center (ODDS), Ministry of Communications and Information Technology (MIMIC) and (N.B.). A survey method was used to gather 48 questionnaires from employees who have worked in the three organizations. It employed a linear regression with emotional intelligence and gender as the independent variable. The results lead that employees who are of high emotional intelligence are more satisfied with their work more than the employees who are of low emotional intelligence. The outcomes of testing the research hypotheses showed here major findings: First, gender has insignificantly influenced with Job satisfaction, second, emotional Intelligence significantly influences with Job satisfaction. Third, emotional intelligence and gender interact to influence with Job satisfaction. Emotional Intelligence at the Workplace: The benefits of applying El in the workplace may include higher tolerance for stress, better people management skills and more effective performance as part of a team (Killeen, 1996). Researches have also showed the linkages between Job satisfaction and El. Higher levels of El predicted higher levels of Job satisfaction and stronger inspections with co-workers and supervisors (Abraham, 1999). Fisher (2000) linked emotions and moods with Job satisfaction. Recently, Cote and Morgan (2002) found that amplification of positive emotions increased Job satisfaction while suppression of unpleasant emotions decreased Job satisfaction. The El construct has important (Cooper and Safe, 1997) . In the organization domain, several studies examine the relevance and prevalence of emotional intelligence in the context of the corporate sector. Sings (2003) compared Japanese and Indian managers and concluded that Japanese managers were high on thinking, while Indian managers were high on leaning. Further it has been argued that since Indians, by and large have high affiliation need, this needs to be tapped effectively through the appropriate use of the concept of El that yields enhancement in productivity. This shows that the need of El is not uniform across occupations. The relationship of El was studied with leadership effectiveness, success and Job satisfaction among Indian army officers by Survivalist (2003). It was found that emotionally more intelligent army officers adopted a transformational style of leadership to motivate their subordinates to perform beyond expectations. They also perceived them to be more successful in their careers. Highs (2004) have studied the relationship between [13] emotional intelligence and performance in UK call centers. To explore the relationship between the El of call center agents and ratings of their performance, a sample of 289 agents from three organizations was studied. Results included a strong relationship between overall El and individual performance as well as between several El elements from the model and performance concluding that individuals having good emotional intelligence were better on their work performance. Another study examining the relationship of emotional intelligence and job satisfaction among 291 Indian army officers using a structured interview schedule was reported by Survivalist (2004). The result showed that the overall regression equation between the dimensions of El as predictors and Job satisfaction as criterion variable was not significant. This result suggested that El does not contribute towards satisfaction with the Job. Whereas, other researches have showed the linkages between Job satisfaction and El. Higher levels of El predicted higher levels of Job satisfaction and stronger connections with co-workers and supervisors Abraham,1999; Kahn, 1990). Vender Zee and Wave (2004) examined the usefulness of trait emotional intelligence among a sample of 1,186 top managers who filled out questionnaires for emotional intelligence and were evaluated by a consultant on their competencies. Three higher order factors were found to underlie the Bar-on emotional quotient Inventory (Bar-On,1997): Sense of accomplishment, empathy and playfulness. On the whole, top managers scored higher on the El dimensions compared with a general population sample. High El scores were particularly found among managers from enterprising occupational environments hat is environments dominated by activities that entail persuading the leading others to attain organizational goals or economic gain. Another review was reported by Giddier, Matthews and Roberts (2004) for conceptualizations and empirical evidence in support of emotional intelligence and its claimed role in the occupational environment. Consideration is given to the purported status of El in occupational and career assessment (with particular emphasis on personal selection and placement), Job performance, and satisfaction. Overall this review demonstrates that recent How to cite Impact of Hrd Mechanism on Emotional Intelligence, Papers

Legal Notes Essay Example

Legal Notes Essay What is Contract? Contract is an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as contract. Since the law of contracts is at the heart of most business dealings. There are two important elements in Agreeement of Contracts, i. e. 1) A proposal or an offer 2) An acceptance of that proposal or offer Essential Elements of a Valid Contract:- a) Agreement: A negotiated and usually legally enforceable understanding between two or more parties. Although a binding contract can result from an agreement, an agreement typically documents the give-and-take of a negotiated settlement and a contract specifies the minimum acceptable standard of performance. b) Intention to create legal relationship: One of the essential elements in the creation of a binding contract, this intention is implied by the fact that it is not expressly denied. Intention to bind the other party with the involved legal obligations. ) Free and genuine contract:-Two parties must give their Free and genuine contract to the term of agreement. Such consent should not obtain one or more of following manners i. e. I. By coercion II. By undue influence III. By fraud IV. By misrepresentation V. By mistake If the consent would be proved to have been obtained in one or more of the aforementioned manner, such contract automatically declared as voidable contract. d) Lawful consideration:- Consideration is an essential element for the formation of a contract. We will write a custom essay sample on Legal Notes specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Legal Notes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Legal Notes specifically for you FOR ONLY $16.38 $13.9/page Hire Writer It may consist of a promise to perform a desired act or a promise to refrain from doing an act that one is legally entitled to do. In a bilateral contract—an agreement by which both parties exchange mutual promises—each promise is regarded as sufficient consideration for the other. In a unilateral contract, an agreement by which one party makes a promise in exchange for the others performance, the performance is consideration for the promise, while the promise is consideration for the performance. Consideration must have a value that can be objectively determined. Example:- To make a gift or a promise of love or affection is not enforceable because of the subjective nature of the promise. e) Lawful object: Courts will not enforce contracts that are illegal or violate public policy. Such contracts are considered void. For example, a gambling contract would be illegal in many states. f) Agreements not declared void or illegal:- The sagreement should be such Which have not been expressly declared as illegal or void by any law of the land. Such agreement would naturally be not enforceable by law just for this single reason. ) Necessary legal formalities: legal formalities are the legal obligations which are to be performed or fulfill by each and every organization by performing legal formality a unique image of organization is created in the mind of employees and other stake holders. Who are competent to contract? Every person is competent to contract who is of the age of majority according to the law to which he is subject, and who is of sound mind, and is not disqualified from contracting by any law to which he is subject, following person disqualified into valid agreement or contract: a) Minors ) Mentally incompetent person and c) Person who are declared incompetent through their status. MINORS Section 3 of Indian Majority 1875,a minor is a person who has not completed 18years of age. But then in the following specific cases, a minor is said to attain the majority on the completion of his 21 years of age ,instead : 1. Where a guardian of minor’s person or property is appointed under the guardians and wards act ,1890. 2. Where a court of wards assumes the superintendence of the minor’s property. For example : * If A is born in India on the 1st January 1850, and has an Indian domicile . B guardian of A is appointed by court of justice. A attains majority at the the first day of January 1871. (21 years) * If A is born in India on the 29th February 1852,and has an Indian domicile. B guardian A’s property is appointed by a court of justice. A majority at the first moment of the 28th day of February 1873. (21years) * A is born on the first day of January 1850. He acquires a domicile in India . No guardian is appointed of his person or property by any court of justice, nor is he under the jurisdication of any court of wards. A attains majority at the first moment of the day of januray ,1868. (18 years) Under the English law, a contract by a minor is not void, but only voidable , at the option of the minor only, though only under certain exceptional circumstances. Under the Indian law a contact with or by minor is void, and not just voidable. As noted above a minor is not competent to contract. One question which arises in case of an agreement by a minor is, whether the agreement is void or voidable? The Indian contract Act does not have any provision to answer this question. In the absence of any statutory provision there had been controversy on this point. The controversy was set at rest by the decision of the Privy Council, in the case of Mohori Bibee Vs. Dharmodas Ghose in 1903. It was held that the agreement made by a minor is void.. Point 1 CASE LAW 1: Mohiri Bibi vs Dharmodas Ghose * The plaintiff, Dharmodas Ghose, while he was a minor, mortgaged his property in favour of the defendant, Brahmo Dutt, who was a moneylender to secure a loan of Rs. 20,000. The actual amount of loan given was less than Rs. 0,000. At the time of the transaction the lawyer, who acted on behalf of the money lender, had the knowledge that the plaintiff is a minor. * The plaintiff(Dharmodas) brought an action against the defendant stating that he was a minor when the mortgage was executed by him and, therefore, mortgage was void and inoperative and the same should be cancelled. By the time of Appeal to the Privy Council the defendant, Brahmo Dutt died and the Appeal was pros ecuted by his executors(Mohiri bibi) . The Defendant, amongst other points, contended that the plaintiff had fraudulently misrepresented his age and therefore no relief should be given to him, and that, if mortgage is cancelled as requested by the plaintiff, the plaintiff should be asked to repay the sum of Rs. 10,500 advanced to him. The decision of the Privy Council on the various points raised by the defendant was as follows : * The defendant’s argument that the minor had falsely mis-stated his age, the law of estoppels should apply against him and he should not be allowed to contend that he was a minor, was considered. The Privy Council found that the fact that the plaintiff was a minor at the time making of the agreement was known to the defendant’s agent. It was held that the law of estoppel as stated in Section 115, Indian Evidence Act, was not applicable to the present case, where the statement (about age) is made to a person who knows the real facts and is not misled by the untrue statement. * Another contention of the defendant was that, if the plaintiff’s claim to order the cancellation of the mortgage is allowed, the plaintiff should be asked to refund the loan taken by him, according to Section 64 and 65, Indian contract Act. Judgement according session Section 64 of the Indian Contract Act reads as under : â€Å"When a person at whose option a contract is voidable rescinds it, the other party there to need not perform any promise there in contained of which he is promisor. The party rescinding a voidable contract shall, if he received any benefit there under from another party to such contract, restore such benefit, so far as may be, to the person from whom it was received. Their Lordships observed that Section 64 was applicable to the case of a voidable contract. Minor’s agreement being void, Section 64 was not applicable to the case and therefore the minor could not ask to pay the amount under this section. If a minor has happened to receive some benefits under a void contract , he cannot be asked to return or refund such benefits. A minor can be a promise or a beneficiary:- According to Indian law , a minor can’t behind himself by a contract. A minor may not create a valid mortgage (credit) ,to execute an enforceable promissory note, and also he not incapable of being mortgagee of a property that means minor is entitled to all the benefits available to him, under the contract Ratification of an agreement a minor after attaining majority is void and invaid. The reasons for the rule that a minor cannot ratify an agreement after attaining majority are * An agreement entered into by a minor is void ab initio. A minor cannot ratify an agreement on attaining the age of majority to validate the same as there is no valid agreement/contract to ratify. Ratification is always treated as validation of previous authority/concerned party and dates back to the date of actual agreement and so a contract/agreement which was then void cannot be made valid by subsequent ratification. The minor on attaining majority can enter into a fresh agreement but the earlier amount/asset cannot be treated as consideration for the new agreement. * Also when the agreement was entered into during the minority there was no ‘proper consideration’ as the contract was void and this amount becomes ‘bad consideration’ for new agreement and is not enough for validating that agreement by its ratification. â€Å"Under section 11 a minor is not competent to contract he is disqualified from contracting. He can therefore neither make a valid proposal nor make a valid acceptance as defined in section-2, clause (a) and (b). He cannot, therefore, for the purposes of this Act be strictly called a promisor within the meaning of clause(c) nor can therefore anything done by the promise be strictly called a consideration at the desire of a promisor as contemplated by clause (d). It may, therefore, be urged that an argument by a minor cannot be strictly as being for â€Å"consideration’. If the part of the benefit was received by a person during his minority and the other part after attaining the age of majority, a promise by him after attaining majority to pay an amount in respect of both the benefits is enforceable, as that constitutes a valid consideration for the promise. A minor cannot even enter into a contract through guardian or any other agent because it is void contract and the same is not capable of ratification by a minor, on his attaining majority. Ratification in law is treated as equivalent to a previous authority, and it follows that as a general rule, a person or body of persons, not competent to authorize an act can’t give validity after ratifying it. CASE LAW 2: Madras High Court Indran Ramaswami Pandia Thalavar vs Anthappa Chettiar And Others. on 14 March, 1906. In this case, a minor gave a promissory note for borrowing an amount of Rs. 2500 in 1895 and in 1898 after attaining majority he gave another promissory note ratifying the previous loan. But the court clearly declined the argument that though the first agreement was done by a minor, it was done on the â€Å"desire off the promisor† citing above two reasons. A Minor can take the plea of being a minor Case Law -Leslie Vs Sheill The Events in the Case Sheill, a minor , fraudently misrepresented himself as a major and borrowed 400 pound sterling from Leslie. Actually Sheill was a minor at the material time ie at the time of borrowing the money. Sheill then spent the borrowed money and did not repay the loan. Leslie filed a suit against him claiming the following: Leslie’s claims 1. Recovery of the loan amount 2. Damages for the fraudulent misrepresentation( ie for the tort of deceit) The Verdict The court held that Leslie cannot recover the amount given to Sheill and also cannot claim damages under the Law of Tort. The justification for the verdict 1. A contract with a minor is void ab initio meaning it is void from the beginning. Hence even though the minor had misrepresented his age, the court cannot ask the minor to give the money back to Leslie as doing so would mean that the court is enforcing a void contract, which is not enforceable by law. Hence Leslie could not recover his money back. 2. Sheill has committed a tort( an action that harms another person, in this case it is Leslie). Law of Tort allows the aggrieved party to claim damages. But here the minor, Sheill is not bound by contract to borrow money or even for other purposes. Hence even damages cannot be claimed as the contract is void ab initio. Another Remark If Sheill had not spent the money, he cannot be asked to refund the money back. This is as per Section 30 and 33 of the Specific Relief Act, 1963. Section 30 of Specific Relief Act Court may require parties rescinding to do equity. On adjudging the rescission of a contract, the court may require the party to whom such relief is granted to restore, so far as may be, any benefit which he may have received from the other party and to make any compensation to him which justice may require. Section 33 of Specific Relief Act Where a defendant successfully resists any suit on the ground- (a)  that the instrument sought to be enforced against him in the suit is voidable, the court may if the defendant has received any benefit under the instrument from the other party, require him to restore, so far as may be, such benefit to that party or to make compensation for it; (b)  that the agreement sought to be enforced against him in the suit is void by reason of his not having been competent to contract under section 11 of the Indian Contract Act, 1872 (9 of 1872 ), the court may, if the defendant has received any benefit under the agreement from the other party, require him to restore, so far as may be, such benefit to that party, to the extent to which he or his estate has benefited thereby. Source: http://www. indiankanoon. org/doc/172614/ Example Say there is a Minor M and two other persons N and O. M fraudulently misrepresents himself as a major at the time of contract and borrows money from N by mortga ging his property. He later sold the property by fraud to O. N then cancels both the agreements. Both the contracts are void ab initio. It was judged that M has to compensate both O and N as they both were not aware of the fact that M had fraudulently misrepresented them at the time of contract. Other points A minor can’t become a partner in any partnership firm:- under Section 30 of the partnership Act , 1932. The estate of a minor is liable to a person who supplies necessaries of his life to him. The guardians and parents of a minor are not liable to a creditors of a minor , for any breach of contract by a minor , even for the supply of the necessaries , or otherwise. A minor can , however , act as an agent. Contracts by the Persons of Mental Incompetence Definition and Understanding The term Incompetence habitually means â€Å"The lack of ability, knowledge, legal qualification, or fitness to discharge a required duty or professional obligation† and consequently Mental Incompetence refers to that populace who are diagnosed as being mentally ill, senile, drunken state, delirium under the influence of high fever or suffering from some other debility that prevents them from managing his own affairs Such people may be accredited mentally incompetent by a court of law for which as a rule a guardian is appointed to handle the persons property and personal affairs. In order to be competent to a contract, a person should be of sound mind where the soundness of mind of a person depends on the following two factors: * His ability to understand the terms of a contract, and * His capability to form a rational judgment as to its effect upon his interest Henceforth, Section 11 and 12 specifically articulates that A person is said to be of sound mind for the purpose of making a contract, if at the time when he makes it, he is capable of understanding it and of forming a rational judgment to its effect upon his interests * An individual who experiences from insanity at intervals can enter into a contract, when he is of sound mind * An individual who endures from insanity occasionally cannot enter into a contract, when he is of unsound mind Case Law 3: Civil Appeal Nos 1619-1620 of 2001 Legal Terms Used * Appellant An individual who, discontented with the judgment delivered and decided in a lower court or the findings from a proceeding asks a superior court to review the decision * Respondent The revelry against whom an appeal or motion, an application for a court order, is instituted and who is obligatory to answer in order to protect his or her interests Details Citation : Supreme Court of India Appellants : Chacko and Anr. Respondent : Mahadevan Honble Judges : A. K. Mathur and Markandey Katju, JJ. | Case Description The case essentially is of the civil nature dealing with the Sale of Property and the execution of aforementioned sale endeavor. Fundamentally the sale was challenged as being null and void, the circumstances being the appellant Chacko and Anr. alleging that he was made to carry out the deed by acting under the influence of liquor by the respondent Mahadevan and was not in a fit state of mind and hence confronting the sale of assets as illogical and annulled At the outset an injunction was sought against the respondent and anon a series of cross suits by both parties to the case were filed. As the trial court detained that the appellants failed to prove the accusations allowing the ensemble of the respondent. Shortly the appellant stimulated appeal before the first appellate court where the order primarily in favor of the respondent was now overturned in favor of the appellant as the fact that one cent land was sold for Rs. 18000 vide Ext. A2 (sale deed dated 4. 9. 1982) and three cent land was sold vide Ext. A3 (sale deed dated 11. 7. 1983) for a sum of Rs. 1000, showing an unconscionable and irrational transaction This lead to an infuriated respondent, bestowing a second appeal before the high court of Kerala on account of the indicted verdict against the judgment of the First Appellate Court and its findings of fact. The Findings of Fact include the â€Å"Unsound state of mind† of appellant established by medical certificate for Alcoholic Psychosis summiting to the well known Latin maxim â€Å"res ipsa loquitur† i. e. the matter speaks for itself The Rationale for the Final Decision â€Å"Transaction on the basis of documents executed when not in a robust state of mind† â€Å"The Court cannot interfere with the unyielding findings of fact as the medical certificate for Alcoholic Psychosis submitted for of the first Appellate Court and is restricted only to questions of law. † Judgment The second appeal signified that Chacko sold the land by sale deed dated 11. 7. 1983 when he was not of sound mind and some swindle was played on him at that time by Mahadevan with the court testifying that the Court cannot interfere with the findings of fact of the first Appellate Court, and is confined only to the questions of law. The deal was quashed by the court and in favor of the appellant Chacko dismissing Mahadevan’s plea Incompetence Through Status: Incompetence to contract may arise under various situations, like 1. From Political status 2. From corporate status 3. From Legal Status 4. From Marital status Examples 1. Pertaining to Political Status * An Alien Enemy cannot enter into a contract with an Indian during the period of war. If Pakistan is in war with India then no Pakistani can enter a contract with Indians during the period of war. But if they have entered into a contract already then the contract may be dissolved or suspended till the war is over. The contracts that are against public policy and that will benefit the enemy will stand dissolved. Other contracts will be suspended provided that they have not been rendered time barred under Indian Limitation Act. * Alien Friend: An Indian can enter into a contract with citizen of other foreign country which is not at war with India. 2. Pertaining to Corporate Status According to 1856 companies act, a company cannot enter into a contract against Memorandum of Association. 3. Pertaining to Legal Status Person declared insolvent are not considered to enter into a contract till such time they are able to get a certificate of discharge from insolvency. 4. Pertaining to Marital Status A married woman has full ability and competence to enter into a valid contract . She can sue and even be sued against, in her own name.