Six Sigma

Six Sigma stands for Six Standard Deviations (Sigma is the Greek letter used to represent standard deviation in statistics) from mean. Six Sigma methodology provides the techniques and tools to improve the capability and reduce the defects in any process.Six Sigma is a business management strategy, originally developed by Motorola in 1986.Six Sigma seeks to improve the quality of process outputs by identifying and removing the causes of defects (errors) and minimizing variability in manufacturing and business processes.Six Sigma is a systematical process of “quality improvement through the disciplined data-analyzing approach, and by improving the organizational process by eliminating the defects or the obstacles which prevents the organizations to reach the perfection”.The Six Sigma ensures the quality control, total quality management and zero defects.Customer requirements, design quality, metrics and measures, employee involvement and continuous improvement are main elements of Six Sigma Process Improvement. Through the implementation of the Six Sigma it is made sure that the goals are set on the improvement of all processes to reach the level of better quality. “The Six Sigma” shows the organization’s ability of highly capable processing in producing the outputs within the limited specifications. There fore it can be said that the processes that operates with the Six Sigma quality, is able to produce a quality products at a low rate of defects.When a process attains the certification of Six Sigma quality, it is clear that the organization has attained the standard deviations form the means of the production till the specific limitations, and so can make sure that there is no room for the items to fail to meet the specifications. Altogether we can consider the Six Sigma as the professionalizing of the quality management functions.ProjectsIndia is a training and consultancy organisation established in the year 2002 to train personnel in Lean manufacturing and Six Sigma improvement methodologies. The training programs have been conducted around the world in countries such as U.K, CHINA,INDIA,DUBAI,SPAIN ,SOUDIARABIA and JORDAN.

The Supply Chain

The Supply Chain“Users buy successful supplier products in order to better manufacture their own products and achieve market leadership. This is where the big money is.”NEMI(The National Electronics Manufacturing Initiative’s mission ), March 11, 1996

Financial Modeling

The process by which a firm constructs a financial representation of some, or all, aspects of the firm or given security. The model is usually characterized by performing calculations, and makes recommendations based on that information. The model may also summarize particular events for the end user and provide direction regarding possible actions or alternatives. If you are involved in financial decision making/ planning related to large corporate, then you would definitely need financial modelling day in and day out. Financial modeling is a mandatory activity for investment bankers, bankers, project finance persons, equity research folks, PE & VCs.

Balanced Scorecard (BSC)

The Balanced Scorecard (BSC) is a strategic performance management tool - a semi-standard structured report, supported by proven design methods and automation tools, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.It allows organisations to manage and measure the delivery of their strategy. The concept was initially introduced by Robert Kaplan and David Norton in a Harvard Business Review Article in 1992 and has since then been voted one of the most influential business ideas of the past 75 years.

Off-Balance-Sheet Financing

With off-balance sheet accounting, a company didn't have to include certain assets and liabilities in its balance sheet -- it was "off-sheet" and therefore not part of their financial statements. We'll talk more later about how the Sarbanes-Oxley Act changed this practice. While there are legitimate reasons for off-balance-sheet accounting, it is often used to make a company look like it has far less debt than it actually does. Some types of off-balance-sheet accounting move debt to a newly created company specifically for that purpose, which was the case with Enron. These are called special purpose entities (SPEs) and are also known as variable interest entities (VIEs).

An accounting technique in which a debt for which a company is obligated does not appear on the company's balance sheet as a liability. Keeping debt off the balance sheet allows a company to appear more creditworthy but misrepresents the firm's financial structure to creditors, shareholders, and the public. The sudden collapse of energy-trading giant Enron Corporation is attributed in large part to the firm's off-balance-sheet financing through multiple partnerships. A type of company financing that does not appear as a liability on the company's balance sheet. A company may engage in off-balance-sheet financing if it wishes to keep its debt-equity ratio low and thereby appear as if it is carrying little debt. This, in turn, makes the company look more creditworthy than it would otherwise. A common form of off-balance-sheet financing is an operating lease, in which a company rents, rather than buys, a capital asset. In an operating lease, the company must record only the rental payments, and not the whole cost of the asset. While off-balance-sheet financing is permissible, it can become unsustainable and can hide a company's true financial state. The term came into common parlance when Enron collapsed in the wake of excessive off-balance-sheet financing. See also: Enron scandal.

Value at Risk (VaR)

VaR is the maximum potential loss that a portfolio can suffer in the 1% worst cases in N-days. -> wrong! VaR is the minimum potential loss that a portfolio can suffer in the 1% worst cases in N-days. -> Embarassing! VaR is the maximum potential loss that a portfolio can suffer in the 99% best cases in N-days. -> compromise! VaR is defined for a given confidence level time horizon.Modeling VaR would involve estimating ‘extreme percentiles’ - statistical distributions characterizing ‘returns’. time aggregation - square-root-of-time rule.

What is Risk Management

Risk Management includes the following:Measurement – What do we measure?.Individual and portfolio.Monitor – How do we measure? Methods to estimate ‘risk’ of a security or portfolio.Control – How do we control?.Allocation and Supervision

Option

An option is a contract that gives its owner the right, but not the obligation to conduct a transaction involving an underlying asset at a predetermined future date and at a predetermined price (exercise or strike price).

ICQ ("I seek you"),

ICQ ("I seek you"), the software developed by an Israeli company called Mirabilis lets users know when their friends are logged on and initiate real-time chat sessions. If your friend doesn't have the program, you can click on a button and send him or her a link to download the software.Mirabilis was sold in June 1998 to America Online, with zero revenues, for $287 million in cash. Worldwide instant messaging users will reach 180 million by 2004, according to research by Gartner Group.Not only will almost 200 million people be using instant messaging in 2004, but Gartner also predicts that 60 percent of all real-time online communication -- either voice or text -- will be driven through instant messaging technology.The first version of the program was released in November 1996 and ICQ became the first Internet-wide instant messaging service, later patenting the technology.AOL acquired Mirabilis on June 8, 1998, for US$407 million. In 2001, ICQ had over 100 million accounts registered. In April 2010, AOL sold ICQ to Digital Sky Technologies for $187.5 million.

Viral Marketing

Any advertising that propagates itself the way viruses do. e.g. When Hotmail users send e-mails, they infect the recipients with the tagline at the bottom of their messages.Also called V-Marketing, organic marketing, word-of-mouth marketing or word-of-mouse marketing.It can be delivered by word of mouth or enhanced by the network effects of the Internet. Viral marketing may take the form of video clips, interactive Flash games, advergames, ebooks, brandable software, images, or text messages.

What Is Fraud?

Black’s Law DictionaryIntentional perversion of truth,False representation of a matter of fact,Whether by words or conduct False, misleading, concealment of that which should have been disclosed For the purpose of inducing another,In reliance upon perversion of truth ,To part with some valuable thing belonging to him or to surrender a legal right.Black’s Law Dictionary: “An intentional perversion of truth for the purpose of inducing another in reliance upon it to part with some valuable thing belonging to him or to surrender a legal right; a false representation of a matter of fact, whether by words or by conduct, by false or misleading allegations, or by concealment of that which should have been disclosed, which deceives and is intended to deceive another so that he shall act upon it to his legal injury.” “Bad” Fraud---Acquirer Overpays,Earnings management,False revenue recognition schemes,Costs and expenses schemes Understatement of liabilities,Illegal conduct,Liability for past conduct,Impact upon future earnings Good” Fraud----Acquirer Underpays ,Misconduct that if discovered, reduces costs and increases earnings

Creativity and Innovation

Creativity – the ability to develop new ideas and to discover new ways of looking at problems and opportunities.elements of creativity are ---Unique (original),Valued (useful),Intent (purpose),Continuance (implementation excellence).For enhancing individual creativity,Allow yourself to be creative,Give your mind fresh input every day,Keep a journal handy to record your thoughts and ideas, Read books on stimulating creativity ,Take some time off.

Innovation – the ability to apply creative solutions to problems or opportunities to enhance or to enrich people’s lives.It is the creation of better or more effective products, processes, services, technologies, or ideas that are accepted by markets,

Factors to Consider Before Launching into E-Commerce

Electronic commerce, commonly known as e-commerce or e-comm, refers to the buying and selling of products or services over electronic systems such as the Internet and other computer networks How a company exploits the Web’s interconnectivity and the opportunities it creates to transform relationships with suppliers, customers, and others is crucial to its success. Web success requires a company to develop a plan for integrating the Web into its overall strategy. Developing a deep, lasting relationship with customers takes on even greater importance on the Web. Creating a meaningful presence on the Web requires an ongoing investment of resources – time, money, energy, and talent. Measuring the success of a Web-based sales effort is essential to remaining relevant to customers whose tastes, needs, and preferences constantly change.

Working Capital Cycle

Working Capital Cycle

Working capital is vital to a business. They have to have funds available to pay their day to day bills, wages and so on. The working capital is made up of the current assets net of the current liabilities. It is very important to a company to manage its working capital carefully. This is particularly true where there is a substantial time lag between making the product and receiving the money for it. In this situation the company has paid out all the costs associated with making the product (labour, raw materials and so on) but not yet got any money for it. They must therefore ensure they have enough cash to do this. The way working capital moves around the business is modelled by the working capital cycle. This shows the cash coming into the business, what happens to it while the business has it and then where it goes. A simple working capital cycle may look something like:- Between each stage of this working capital cycle there is a time delay. For some businesses this will be very long where it takes them a long time to make and sell the product. They will need a substantial amount of working capital to survive. Others though may receive their cash very quickly after paying out for raw materials etc... (perhaps even before they've paid their bills?) - they will need less working capital. The above network diagram may offer a clear picture of a complete working capital i.e. it is a cash to cash phenomenon. In the diagram, Raw material stock refers to material only. In WIP, components involve are raw materials, wages and overheads- more specifically manufacturing overhead. Finished stock consists component of material, wages, and selling and distribution overheads. Debtors include materials, wages, overheads and profit. Creditors involve for the components of raw materials etc. while estimating the working capital requirement. The operating cycle consists of the following events which continues throughout the life of a firm remaining engaged in commercial activities: I. Conversion of cash into raw materials. II. Conversion of raw materials in WIP III. Conversion of WIP into finished goods. IV. Conversion of finished goods into account receivable and Debtors through sales. V. Conversion of Accounts receivable into cash. Calculation Of Working Capital Cycle: So far we have discussed about nature and scope of working capital cycle. The finance manager must be prepared to know the exact period of operating cycle as because he has to plan for ensuring liquidity and profitability of the concern. Component wise working capital cycle-period can be ascertained as below: In the form of a simple equation, working capital cycle can be represented as below: WWC = R + W + F + D + B – C Where, WWC= Working Capital Cycle R= Raw Materials W= Work in progress F= Finished StockB=Cash at Bank D= Debtors and Receivable collection periodC= Credit period available

Working capital management

Working capital management Positive working capital means that the company is able to pay off its short-term liabilities. Negative working capital means that a company currently is unable to meet its short-term liabilities with its current assets (cash, accounts receivable and inventory). Also known as "net working capital", or the "working capital ratio". Working capital, also known as net working capital, is a financial metric which represents operating liquidity available to a business. Along with fixed assets such as plant and equipment, working capital is considered a part of operating capital. It is calculated as current assets minus current liabilities. If current assets are less than current liabilities, an entity has a working capital deficiency, also called a working capital deficit. A company can be endowed with assets and profitability but short of liquidity if its assets cannot readily be converted into cash. Positive working capital is required to ensure that a firm is able to continue its operations and that it has sufficient funds to satisfy both maturing short-term debt and upcoming operational expenses. The management of working capital involves managing inventories, accounts receivable and payable and cash. Decisions relating to working capital and short term financing are referred to as working capital management. These involve managing the relationship between a firm's short-term assets and its short-term liabilities. The goal of working capital management is to ensure that the firm is able to continue its operations and that it has sufficient cash flow to satisfy both maturing short-term debt and upcoming operational expenses. Decision criteria By definition, working capital management entails short term decisions - generally, relating to the next one year period - which are "reversible". These decisions are therefore not taken on the same basis as Capital Investment Decisions (NPV or related, as above) rather they will be based on cash flows and / or profitability. • One measure of cash flow is provided by the cash conversion cycle - the net number of days from the outlay of cash for raw material to receiving payment from the customer. As a management tool, this metric makes explicit the inter-relatedness of decisions relating to inventories, accounts receivable and payable, and cash. Because this number effectively corresponds to the time that the firm's cash is tied up in operations and unavailable for other activities, management generally aims at a low net count. • In this context, the most useful measure of profitability is Return on capital (ROC). The result is shown as a percentage, determined by dividing relevant income for the 12 months by capital employed; Return on equity (ROE) shows this result for the firm's shareholders. Firm value is enhanced when, and if, the return on capital, which results from working capital management, exceeds the cost of capital, which results from capital investment decisions as above. ROC measures are therefore useful as a management tool, in that they link short-term policy with long-term decision making. See Economic value added (EVA). Management of working capital Guided by the above criteria, management will use a combination of policies and techniques for the management of working capital. These policies aim at managing the current assets (generally cash and cash equivalents, inventories and debtors) and the short term financing, such that cash flows and returns are acceptable. • Cash management. Identify the cash balance which allows for the business to meet day to day expenses, but reduces cash holding costs. • Inventory management. Identify the level of inventory which allows for uninterrupted production but reduces the investment in raw materials - and minimizes reordering costs - and hence increases cash flow; see Supply chain management; Just In Time (JIT); Economic order quantity (EOQ); Economic production quantity (EPQ). • Debtors management. Identify the appropriate credit policy, i.e. credit terms which will attract customers, such that any impact on cash flows and the cash conversion cycle will be offset by increased revenue and hence Return on Capital (or vice versa); see Discounts and allowances. • Short term financing. Identify the appropriate source of financing, given the cash conversion cycle: the inventory is ideally financed by credit granted by the supplier; however, it may be necessary to utilize a bank loan (or overdraft), or to "convert debtors to cash" through "factoring". working capital needs also fluctuate during the year • The amount of funds tied up in working capital would not typically be a constant figure throughout the year. • Only in the most unusual of businesses would there be a constant need for working capital funding. For most businesses there would be weekly fluctuations. • Many businesses operate in industries that have seasonal changes in demand. This means that sales, stocks, debtors, etc. would be at higher levels at some predictable times of the year than at others. • In principle, the working capital need can be separated into two parts: • • A fixed part, and • • A fluctuating part • The fixed part is probably defined in amount as the minimum working capital requirement for the year. It is widely advocated that the firm should be funded in the way shown in the diagram below: • The more permanent needs (fixed assets and the fixed element of working capital) should be financed from fairly permanent sources (e.g. equity and loan stocks); the fluctuating element should be financed from a short-term source (e.g. a bank overdraft), which can be drawn on and repaid easily and at short notice.

Recent Trends In Banking Industry Of India

The economy can be divided in the entire spectrum of economic activity into the real and monetary sectors. The real sector is where production takes place while the monetary sector supports this production and in a way is the means to the end. We know and we accept the financial system is critical to the working of the rest of the economy. In fact, the Asian crisis of the nineties, or for that matter what happened in Latin America and Russia subsequently and also Dubai Crisis have shown how a fragile financial sector can wreak havoc on the rest of the economy. Therefore the banking sector is crucial and we want to express our views to explore how this sector can work in harmony with the real sector to achieve the desired objectives. the b Banking sector has been immensely benefited from the implementation of superior technology during the recent past, almost in every nation in the world. Productivity enhancement, innovative products, speedy transactions seamless transfer of funds, real time information system, and efficient risk management are some of the advantage derived through the technology. Information technology has also improved the efficiency and robustness of business processes across anking sector. India's banking sector has made rapid strides in reforming and aligning itself to the new competitive business environment. Indian banking industry is the midst of an IT revolution. Technological infrastructure has become an indispensable part of the reforms process in the banking system, with the gradual development of sophisticated instruments and innovations in market practices. IT in Banking Indian banking industry, today is in the midst of an IT revolution. A combination of regulatory and competitive reasons has led to increasing importance of total banking automation in the Indian Banking Industry. Information Technology has basically been used under two different avenues in Banking. One is Communication and Connectivity and other is Business Process Reengineering. Information technology enables sophisticated product development, better market infrastructure, implementation of reliable techniques for control of risks and helps the financial intermediaries to reach geographically distant and diversified markets. The bank which used the right technology to supply timely information will see productivity increase and thereby gain a competitive edge. To compete in an economy which is opening up, it is imperative for the Indian Banks to observe the latest technology and modify it to suit their environment. Not only banks need greatly enhanced use of technology to the customer friendly, efficient and competitive existing services and business, they also need technology for providing newer products and newer forms of services in an increasingly dynamic and globalize environment. Information technology offers a chance for banks to build new systems that address a wide range of customer needs including many that may not be imaginable today. Following are the innovative services offered by the industry in the recent past: Electronic Payment Services – E Cheques Nowadays we are hearing about e-governance, e-mail, e-commerce, e-tail etc. In the same manner, a new technology is being developed in US for introduction of e-cheque, which will eventually replace the conventional paper cheque. India, as harbinger to the introduction of e-cheque, the Negotiable Instruments Act has already been amended to include; Truncated cheque and E-cheque instruments. Real Time Gross Settlement (RTGS) Real Time Gross Settlement system, introduced in India since March 2004, is a system through which electronics instructions can be given by banks to transfer funds from their account to the account of another bank. The RTGS system is maintained and operated by the RBI and provides a means of efficient and faster funds transfer among banks facilitating their financial operations. As the name suggests, funds transfer between banks takes place on a ‘Real Time' basis. Therefore, money can reach the beneficiary instantaneously and the beneficiary's bank has the responsibility to credit the beneficiary's account within two hours Electronic Funds Transfer (EFT) Electronic Funds Transfer (EFT) is a system whereby anyone who wants to make payment to another person/company etc. can approach his bank and make cash payment or give instructions/authorization to transfer funds directly from his own account to the bank account of the receiver/beneficiary. Complete details such as the receiver's name, bank account number, account type (savings or current account), bank name, city, branch name etc. should be furnished to the bank at the time of requesting for such transfers so that the amount reaches the beneficiaries' account correctly and faster. RBI is the service provider of EFT. Electronic Clearing Service (ECS) Electronic Clearing Service is a retail payment system that can be used to make bulk payments/receipts of a similar nature especially where each individual payment is of a repetitive nature and of relatively smaller amount. This facility is meant for companies and government departments to make/receive large volumes of payments rather than for funds transfers by individuals. Automatic Teller Machine (ATM) Automatic Teller Machine is the most popular devise in India, which enables the customers to withdraw their money 24 hours a day 7 days a week. It is a devise that allows customer who has an ATM card to perform routine banking transactions without interacting with a human teller. In addition to cash withdrawal, ATMs can be used for payment of utility bills, funds transfer between accounts, deposit of cheques and cash into accounts, balance enquiry etc. Point of Sale Terminal Point of Sale Terminal is a computer terminal that is linked online to the computerized customer information files in a bank and magnetically encoded plastic transaction card that identifies the customer to the computer. During a transaction, the customer's account is debited and the retailer's account is credited by the computer for the amount of purchase. Tele Banking Tele Banking facilitates the customer to do entire non-cash related banking on telephone. Under this devise Automatic Voice Recorder is used for simpler queries and transactions. For complicated queries and transactions, manned phone terminals are used. Electronic Data Interchange (EDI) Electronic Data Interchange is the electronic exchange of business documents like purchase order, invoices, shipping notices, receiving advices etc. in a standard, computer processed, universally accepted format between trading partners. EDI can also be used to transmit financial information and payments in electronic form. Implications The banks were quickly responded to the changes in the industry; especially the new generation banks. The continuance of the trend has re-defined and re-engineered the banking operations as whole with more customization through leveraging technology. As technology makes banking convenient, customers can access banking services and do banking transactions any time and from any ware. The importance of physical branches is going down. Challenges Faced by Banks, vis-à-vis, IT Implementation It is becoming increasingly imperative for banks to assess and ascertain the benefits of technology implementation. The fruits of technology will certainly taste a lot sweeter when the returns can be measured in absolute terms but it needs precautions and the safety nets. It has not been a smooth sailing for banks keen to jump onto the IT bandwagon. There have been impediments in the path like the obduracy once shown by trade unions who felt that IT could turn out to be a threat to secure employment. Further, the expansion of banks into remote nooks and corners of the country, where logistics continues to be a handicap, proved to be another stumbling stock. Another challenge the banks have had to face concerns the inability of banks to retain the trained and talented personnel, especially those with a good knowledge of IT. The increasing use of technology in banks has also brought up ‘security' concerns. To avoid any pitfalls or mishaps on this account, banks ought to have in place a well-documented security policy including network security and internal security. The passing of the Information Technology Act has come as a boon to the banking sector, and banks should now ensure to abide strictly by its covenants. An effort should also be made to cover e-business in the country's consumer laws. Some are investing in it to drive the business growth, while others are having no option but to invest, to stay in business. The choice of right channel, justification of IT investment on ROI, e-governance, customer relationship management, security concerns, technological obsolescence, mergers and acquisitions, penetration of IT in rural areas, and outsourcing of IT operations are the major challenges and issues in the use of IT in banking operations. The main challenge, however, remains to motivate the customers to increasingly make use of IT while transacting with banks. For small banks, heavy investment requirement is the compressing need in addition to their capital requirements. The coming years will see even more investment in banking technology, but reaping ROI will call for more strategic thinking. Future Outlook Everyone today is convinced that the technology is going to hold the key to future of banking. The achievements in the banking today would not have make possible without IT revolution. Therefore, the key point is while changing to the current environment the banks has to understand properly the trigger for change and accordingly find out the suitable departure point for the change. Although, the adoption of technology in banks continues at a rapid pace, the concentration is perceptibly more in the metros and urban areas. The benefit of Information Technology is yet to percolate sufficiently to the common man living in his rural hamlet. More and more programs and software in regional languages could be introduced to attract more and more people from the rural segments also. Standards based messaging systems should be increasingly deployed in order to address cross platform transactions. The surplus manpower generated by the use of IT should be used for marketing new schemes and banks should form a ‘brains trust' comprising domain experts and technology specialists. Conclusion The banking today is re-defined and re-engineered with the use of Information Technology and it is sure that the future of banking will offer more sophisticated services to the customers with the continuous product and process innovations. Thus, there is a paradigm shift from the seller's market to buyer's market in the industry and finally it affected at the bankers level to change their approach from "conventional banking to convenience banking" and "mass banking to class banking". The shift has also increased the degree of accessibility of a common man to bank for his variety of needs and requirements.

PETROL PRICE OF VARIOUS CITIES IN INDIA AS ON 24/MAY/2012

Trivandrum Petrol Price = 75.74 Rs/Ltr Jalandhar Petrol Price = 81.36 Rs/Ltr Port Blair Petrol Price = 65.56 Rs/Ltr Pondicherry Petrol Price = 71.62 Rs/Ltr Srinagar Petrol Price = 78.06 Rs/Ltr Mumbai Petrol Price = 78.57 Rs/Ltr Delhi Petrol Price = 73.18 Rs/Ltr Bengaluru Petrol Price = 81.75 Rs/Ltr Kolkata Petrol Price = 77.88 Rs/Ltr Chennai Petrol Price = 77.53 Rs/Ltr

What is The Meaning of Vinod ?

The name Vinod comes from the Indian word which means, "Pleasant." Kiddie word which means, "Tough generally playful teasing and a great leader.." Kiddie word which means, "Tough generally playful teasing and a great leader.." Unknown word which means, "Unique Or Different." Vinod (Hindi: विनोद) is a male first name used in India. Vinod means Happy or Joyful in Sanskrit. In Hindi , Tamil and other Indian languages, this word is taken as such with the same meaning. .

Wildlife Tourism in Kerala

Wildlife tourism can be an eco and animal friendly tourism, usually showing animals in their natural habitat. Wildlife tourism, in its simplest sense, is watching wild animals in their natural habitat. Wildlife tourism is an important part of the tourism industries in many countries including many African and South American countries, Australia, India, Canada, Indonesia, Bangladesh, Malaysia and Maldives among many. It has experienced a dramatic and rapid growth in recent years world wide and is closely aligned to eco-tourism and sustainable-tourism. India has a rich forest cover which has some beautiful and exotic species of wildlife – some of which that are even endangered and very rare. This has boosted wildlife tourism in India. The places where a foreign tourist can go for wildlife tourism in India are the Sariska Wildlife Sanctuary, Keoladeo Ghana National Park, and Corbett National Park. Kerala has a forest area of 11,125 sq km, which covers almost 29 percent of the total land area of the state. There are Five National Parks and 13 Wildlife Sanctuaries in Kerala. These parks and sanctuaries cover 2250 sq km, which is 24 percent of the total forest area and 6 percent of the total land area of the state. All these National Parks and sanctuaries are famous tourist destinations and are frequently visited by tourists to experience the enjoyment of watching wildlife in their natural habitat and to get a feel of the scenic excellence of Kerala. The following are the Wildlife Sanctuaries of Kerala. • Periyar Wildlife Sanctuary (Tiger Reserve) • Parambikulam Wildlife Sanctuary • Idukki Wildlife Sanctuary • Chinnar Wildlife Sanctuary • Wayanad Wildlife Sanctuary • Neyyar Wildlife Sanctuary • Peppara Wildlife Sanctuary • Chenthuruni Wildlife Sanctuary • Peechi-Vaazhaani Wildlife Sanctuary • Chimmini Wildlife Sanctuary • Aaralam Wildlife Sanctuary • Mangalavanam (Bird Sanctuary) • Thattekkaad (Bird Sanctuary) Main animals in the sanctuaries of Kerela are : Elephants, gaur, sambar, deer, wild dogs, jungle cats, tigers, wild boars, sloth bears, leopards, lion tailed macaques, Nilgiri Tahrs, langur, malabar giant squirrel, flying squirrel, tiger,panthers, spotted deer, grizzled giant squirrels, Hanuman langurs, peacocks, star tortoises, wild dogs, civet cats, The Atlas moth, bonnet, macaques, Loris, mongoose, foxen, bears, barking deer, pangolins, bison, bears etc..

ECHOTOURISM EMERGING TOURISM SECTOR IN KERALA

ECHOTOURISM EMERGING TOURISM SECTOR IN KERALA

Ecotourism India has developed recently, for the concept itself is a relatively new one. Ecotourism entails traveling to places that are renowned for their natural beauty and social culture, while making sure not to damage the ecological balance. Ecotourism in India has grown significantly in recent years in India since the country has a diverse geography which led to the development of many tourists destinations. These various destinations not only de-stress the tourists but also rejuvenate them. There are various ways in which tourists can enjoy nature in India. And this has given ecotourism in India a major boost. Ecotourism is a growing area in the tourist friendly state of Kerala. Ecotourism in Kerala has taken off in a big way because Kerala has many destinations known for their natural beauty and exquisite landscape. Kerala is one of the greenest destinations in India. The landscape is covered with coconut palms in the coastal areas. The paddy fields shimmer with the emerald green of new shoots. The banana plantations are filled with the whisper of waving green banana leaves. The tea plantations are a green blanket that covers the hill ranges as far as the eye can see, in the Western Ghats in Kerala and the backwaters are fringed with coconut plants that trail the tips of their long leaves in the rippling water, as you float by. You can appreciate the verdant beauty of Kerala on Kerala tours with Kerala backwater. The wildlife sanctuaries of Kerala are popular ecotourism destinations. Tourists from all over the world come to see tigers, elephants, deer and animals native to the Malabar region, such as the Nilgiri Tahr, in the wildlife sanctuaries of Kerala including Periyar, Wynad, Silent Valley and Eravikulam wildlife sanctuary on Kerala tours with Kerala Backwater. In recent times the rubber plantations and tea estates have also opened their doors to tourists who travel to Kerala, seeking a green getaway. The Portuguese, Dutch, French and English colonial rulers of Kerala established the plantations of Kerala during colonial times. The crops they introduced to Kerala include rubber, grown for its latex, and tea - England's favorite drink. These crops grew and flourished in Kerala's pleasant climate. Sheltered from the sun by tall trees, the plantations and their lodges, offer tourists a relaxing getaway on Kerala tours. You can visit the plantations of Kerala on ecotourism vacations in Kerala and Kerala tours with Kerala Backwater. Ecotourism is gaining popularity all over the world today, especially with the emergence of the alert, independent traveler in search of experiential holidays. Renowned as God's Own Country, Kerala is a tourism destination that focuses on sustainable and eco-friendly development of tourism. A rich biodiversity and unmatched natural attractions make the State a unique ecotourism hotspot, of which the world is largely unaware. To explore the ecotourism possibilities in Kerala, a host of products have been developed with the active support and involvement of the local community. Unfolding in the following pages are some of these products that will make every journey to Kerala truly enriching. Products that will let the traveller discover God's Own Country - all while respecting the nature, environment and the community. The wildlife sanctuaries of Kerala are popular ecotourism destinations. Tourists from all over the world come to see tigers, elephants, deer and animals native to the Malabar region, such as the Nilgiri Tahr, in the wildlife sanctuaries of Kerala including Periyar, Wynad, Silent Valley and Eravikulam wildlife sanctuary on Kerala tours with Kerala Backwater.

Role of international advertising in International marketing

Role of international advertising in International marketing

International advertising entails dissemination of a commercial message to target audiences in more than one country. China has a long history of engaging in international trade. The famous “Silk Road” leading to the Central and West Asia (in the West Han Dynasty 206B.C.—25) and Zhenghe’s seven times of sailing to the South Indian Sea (in the Ming Dynasty 1368—1644) have marked the periods of great prosperity in the Chinese history. We can be sure that advertising was used in these international trade activities, as peddling and displaying were just the typical advertising forms in the early time. But they were applied in a spontaneous manner. In the 19th century, with the rapid development of science and technology, the West acquired an unprecedented momentum to develop its economy and provided optimum conditions of a market economy for advertising to get mature. But China’s commodity economy had long been kept in a state of inhibition due to the dominant ideology of “emphasizing agriculture and debasing trade”, so it failed to accelerate into the modern market economy. Consequently, advertising in this country was deprived of the right soil to attain normal growth. Since the 1980s, China has regained vitality to carry out her economic construction. Guided by the policy of “reform and opening-up”, she has been progressing by large strides, and now has almost succeeded in getting accession to the World Trade Organization. International marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. International advertising can, be viewed as a communication process that takes place in multiple cultures that differ in terms of values, communication styles, and consumption patterns. International advertising is also a business activity involving advertisers and the advertising agencies that create ads and buy media in different countries. The sum total of these activities constitutes a worldwide industry that is growing in importance. International advertising is also a major force that both reflects social values, and propagates certain values worldwide. In international markets the process of communicating to a target audience is more complex because communication takes place across multiple contexts, which differ in terms of language, literacy, and other cultural factors. In addition, media differ in their effectiveness in carrying different appeals. Target audiences differ from country to country in terms of how they perceive or interpret symbols or stimuli; respond to humor or emotional appeals, as well as in levels of literacy and languages spoken. How the advertising function is organized also varies. In some cases, multinational firms centralize advertising decisions and budgets and use the same or a limited number of agencies worldwide. In other cases, budgets are decentralized and placed in the hands of local subsidiaries, resulting in greater use of local advertising agencies. The process of communication in international markets involves a number of steps. • The advertiser determines the appropriate message for the target audience. • The message is encoded so that it will be clearly understood in different cultural contexts. • The message is then sent through media channels to the audience who then decodes and reacts to the message. • At each stage in the process, cultural barriers may hamper effective transmission of the message and result in miscommunication. The world advertising industry is characterized by a large number of small and medium sized advertising agencies that operate primarily in one country and by a small number of very large advertising agencies with operations in many countries. These agencies have developed extensive networks of offices throughout the world in order to coordinate the advertising process in all the countries where their clients do business. These networks often include both wholly-owned subsidiaries and formal relationships with local advertising agencies to establish a presence in new markets, particularly in emerging markets. Russia and India will record the strongest growth in advertising spend over the coming year, according to the latest international ad forecast. predicts that Russia will increase expenditure by 16.5%, followed by India (14.0%), China (11.5%) and Brazil (8.5%).The picture is very different outside the BRIC quartet, especially in Europe, where three countries - Germany (1%), France (0.8%) and Italy (-0.2%) - are now expected to record the worst year-on-year performances. All three economies are facing the possibility of renewed recession due to the euro zone debt crisis. Taking into account the likelihood of inflation, all three countries are likely to see a decline in advertising spend in 2012. The forecast for the UK is more positive, with predicted growth of 4.2%. But Warc, the marketing intelligence service, points out that the figure will be boosted by two sporting events - the London Olympics and European football championships. As for the United States, which is forecast to see a 4.1% increase in ad spend, its TV broadcasters will undoubtedly benefit from the presidential election. Indeed, across all 12 countries covered by the survey, TV is predicted to increase its share of main media advertising, growing by 5.3% compared to the overall media total of 4.5%. International Advertising Infrastructure Infrastructural facilities for international advertising can be done in the following ways . 1. Develop ads in-house 2. Local advertising agencies 3. Home-country agencies 4. International agencies a. Top agencies are: i. Omnicom Group ii. Inter public Group iii. Young & Rubicam (U.S.) iv. WPP Group (U.K.) v. Dentsu, Inc. (Japan) International advertising Advantages 1. Economies of scale in production, distribution. 2. Lower costs with less in planning and control. 3. Lower advertising production costs. 4. Ability to exploit good ideas worldwide. 5. Ability to introduce products quickly, worldwide. 6. Consistent international brand, company image. 7. Simplification of coordination and control. Barriers of International Advertising • Communication infrastructure • Agencies might not serve a particular market • Consumer literacy • Legal restrictions and self-regulation • Differing values and purchase motivations • Attitudes toward product country of origin • Promotional mix elements • Differences in culture, market and economic development make it difficult to use global advertising. • Consumer needs and usage patterns often vary by country or region. • Media availability or usage may vary by country or region • Legal restrictions may make it difficult to develop an effective universal appeal Criteria for Selecting an international advertising Agency • Ability of agency to cover relevant markets. • Quality of agency work. • Market research, public relations, and other services offered by the agency. • Relative roles of company advertising department and strategy. • Level of communication and control desired by company. • Ability of agency to coordinate international campaign. • Size of company’s international business. • Company’s desire for local versus international image. • Company organizational structure for international business and marketing (centralized versus decentralized). • Company’s level of involvement with international operations. International Advertising & Promotion expense Rank Advertiser Outside U.S. Inside U.S. 1 Proctor & Gamble $4,995 $3,527 2 Unilever 3,689 848 3 General Motors 1,145 2,208 4 L’Oreal 2,336 753 5 Toyota Motor Corp. 1,895 1,203 6 Ford Motor Co. 1,168 1,701 7 Time Warner 298 1,838 8 Nestlé 1,509 605 9 Johnson & Johnson 674 1,351 10 Daimler/Chrysler 578 1,425 From the above table identify the variations of expenditure of different companies with in US and out side market .Proctor and Gamble, uniliver, LOreal,Toyota,and Nestle have more advertising expense in international market during the period of 2011. Two of the hardest hit sectors during the global downturn, automotive and finance, returned from their recession hiatus and increased ad spend by 20.3 percent and 17.9 percent respectively. Six automotive companies were among the top 20 global advertisers in2010.Ad spends for fast moving consumer goods (FMCG) increased 14.6 percent in 2010 and the sector’s share of ad spend also increased from 23.9 percent to 24.9 percent. FMCG spend in Middle East/Africa increased by 34.3 percent, Latin America (+23.9%) and Asia Pacific(+16%).“Fast moving consumer goods and emerging markets will continue to lead global advertising trends,” said Beard. “One in every four ad dollars spent last year was on fast moving consumer goods (FMCG) and the focus remains firmly on key developing regions.” All traditional advertising media types showed increases in 2010, particularly television which rebounded 13.1 percent and increased to 62 percent of all ad spend share – the highest on record and up from 60.6 percent the previous year. Radio advertising rose 8.5 percent, followed by newspapers (+7%). Magazines recorded the slowest growth of all media types at 4.9 percent globally, and only posted double-digit growth of 14.9 percent in Latin America. Emerging markets with their younger populations, increasing disposable incomes and hungry consumption appetites attracted advertisers to new booming markets in Egypt (+40.8%), Pan-Arab (+43%) and Argentina (+38.9%), which recorded the highest percentage advertising increases .The USA, the world’s largest advertising market, had one of the slowest growth rates of 5.6 percent year-on-year, but is back in positive territory after advertising expenditure dropped nine percent in 2009. The only market to experience a decline in advertising in 2010 was the United Arab Emirates (-4.4%) while advertising remained flat in economically battered markets of Japan (+1.3%) and Spain (+0.4%). In Asia Pacific, nine out of 13 markets enjoyed double-digit growth compared with the previous year, with strongest rebounds from India (+28.1%) and Taiwan (+19.1%). China, the world’s second largest ad market, which accounts for half of Asia Pacific’s total ad spend, gained more of the region’s total ad expenditure in 2010 at 51.4 percent, up from 51 percent in 2009, complementing a 10.9 percent increase in ad expenditure for the market .Latin America, in addition to posting the second highest regional ad spend increase (+21.2%) in 2010, spearheaded by Argentina, also benefited from the highest ad increases across the Financial (+37.2%), Entertainment (+17.8%), Clothing/Accessories (+22%) and Media (23.8%)sectors. In Europe, where most markets cautiously emerged from recession last year, Belgium, France, Sweden, Switzerland and UK posted approximately 10 percent increases. Advertising spend during 2010 peaked during the second quarter with the World Cup driving the highest year-on-year increases of almost 13 percent. Conclusion International advertising can be viewed as a colonizing force propagating Western values and mores throughout the world, it is also an important force integrating societies and establishing common bonds, universal symbols and models of communication among peoples in different parts of the globe. Generally, advertising campaigns should first excavate a national culture that has a common ground with a certain brand to build a national brand, and then spread as elaborately planned to the foreign markets, where the advertising should play the role of combining the original culture with the target one. Source • American Marketing Association (AMA) • http://people.stern.nyu.edu/sdouglas/rpubs/intad.html • De Mooij, M. 1998, Global Marketing and Advertising: Understanding Cultural Paradoxes. Sage Publications, Thousand Oaks, CA. • Douglas, S.P. and Craig, C.S. 1995, Global Marketing Strategy. McGraw Hill, New York. • Grein, A. and Ducoffe, R. 1998, Strategic Response to Market Globalization among Advertising Agencies. International Journal of Advertising, 17, 301-319. • Hall, Edward T. 1976, Beyond Culture. Anchor Press, Garden City, NY. • Peebles, D.M. and Ryans, J.K., Jr. 1984, Management of International Advertising: A Marketing Approach. Allyn and Bacon, Boston. • Rijkens, R. 1992, European Advertising Strategies. Cassell, London. • http://www.guardian.co.uk/media/greenslade/2012/feb/06/advertising-russia • http://www.ccpcc.com/jjxj/jr/990295.htm • http://www.nielsen.com