Training and development Essay Example | Topics and Well Written Essays - 1000 words

Training and development - Essay Example This research will begin with the statement that the Human Resource Development process has become an essential component of organizational ascent in the present diverse as well as the global scenario. New skills and learning ability need to be inculcated by the senior HRD managers in their staff in order to achieve success. They need to ensure a continuous and ongoing learning process for the staff to avoid stagnation and rigid ideas. The process itself needs to be applied in a phased manner. The HRD managers should be able to establish a working relationship with the staff and they should possess skills and capabilities to train, coordinate and identify problems faced by the employees in terms of changed scenarios like diversity, global competition, and necessary new skills. They should be able to identify both external and internal factors influencing employee behavior. They should be able to influence employees by leadership qualities and noncoercive methods of persuasion. They s hould use both personal outcomes and organizational outcomes as a motivating factor for the employees. The trainee characteristics and their trainability need to be evaluated and decisions made accordingly. The lack of participation in the training and development programs can be both due to extrinsic and intrinsic factors. The external factors which might have contributed could be the job environment and prospects prevalent in the country in the immediate future, financial strength of the students or fear of enormity/comprehension of the courses offered.

Retailing Assignment Example | Topics and Well Written Essays - 750 words

Retailing - Assignment Example The responsive nature of the store representatives also added to the shopping experience although the retailer could do more with the displays and other equipment to provide a more engaging shopping experience to its consumers. 2. Retail strategy is a combination of the retail mix and the external environment. The chosen retailer had a department store particularly targeting towards its traditional as well as its well-informed consumers that are aware of the trends. With the ambience of the store, it was evident that the store was equally welcoming to any new and existing customers, thereby especially focusing their product mix at the traditional and well informed market segment. A key strength for the store was its helpful staff that could win consumers by being attentive to their problems and to respond to them in helping ways. However, the amount of technical equipment to keep the customers entertained were lacking although this could help the store attain a sustainable competitive advantage by maintaining customer loyalty. 3. The stores of our chosen retailer are located in a clean local neighborhood with minimal obstructions along the way to the store. The road patterns are steady and clear that add comfort to the journey to the store. The roads and footpath outside the store appears quite decent although improvements could be made. The inviting window display was attractive and visible so that consumers could figure out the location of the store. The surrounding area was also well planned although there was room for improvement. The parking lot was located near the store and a pathway lead customers to the store. The space in the parking lot was enough to accommodate an ample amount of cars although some peak seasons may experience traffic and congestion. Overall, the store had relatively easy accessibility with smoothly flowing traffic nearby, and easy

Borrowings in Classical Music Between Countries, Composers, Different Essay - 1

Borrowings in Classical Music Between Countries, Composers, Different Ages - Essay Example The opera Fidelio was performed in 1805 and was the only opera of L. Beethoven. 1805 was a watershed between German Classicism and German Romanticism marked a new era in German music and artistic movement. The opera Fidelio belongs to German Classic era depicting domestic comedy and high seriousness of social landscape. The artistic movement of this age was open to every foreign idea, new or old, and interested itself in every accessible literature. It was partly because the artistic movement was not deeply rooted in the national life that it drew so much of its matter from foreign sources, until as critics have seen a desire for national originality began to arise, in advance of patriotism. It is obvious that the free use of the intellectual and artistic capital of German’s neighbors was an advantage, even a necessity for Germany in her backward condition; these countries themselves had freely plundered superior civilization in their own day as every 'young' literature must; these in their particular made no secret of his immense debt to France and England. That the results of these borrowings were not always fortunate goes without saying; Insel Felsenburg and Die schwedische Grà ¤fin have few of the merits of the work of Defoe and Richardson. But what is perhaps peculiar to Germany in this matter of imitation is that the habit became so deeply rooted that even national pride could not affect it much, and came in fact, by a natural compensation, to claim this very receptivity as a national virtue (Breuilly, 2001). The German nation, narrowly confined geographically and politically disunited, cannot be expected to produce one, and, speaking just after the French Revolution, Goethe hesitates to wish for the upheaval that would be required in Germany to prepare the way for classical works. But his words indicate that it is by no means certain that he would have disapproved of the Nationalism of modern Germany if he could have lived to see it (Gagliardo 19 91). He might have looked upon it as a necessary stage in the evolution of truly classical German literature.

Global Sex Trade in Thailand and Dominican Republic Essay Example for Free

Global Sex Trade in Thailand and Dominican Republic Essay Prostitution which has been known as the oldest profession around the globe serves to be one of the immoral professions by most countries depending on their religion (Dr1. com, 2008). Mostly seen on developing countries, prostitution provides easy access to money as poor individuals lack enough opportunity to have better and decent jobs. Though developed countries also have prostitution on their dark streets, relative to developing countries, they have less case of prostitution or should we say discrete enough to bury this profession to the underground market. Needless to say, there have been theories explaining why developing countries have more incidence of prostitution as compared to those of the developed ones. Some market analysts say that it was all due to the intense policies that developed countries implement against prostitution while others suggests that it could be due to cultural differences between developed and developing countries. Poverty serves to be the primary reason why most people chose to enter the profession of being a prostitute. The prostitution industry greatly help the economy of most developing countries though it cannot be seen on their economic indicators since government officials do not include the income from prostitution into their GDP and GNP, rather, the benefits from the prostitution industry can be seen on the disposable income of those people that becomes prostitute. This improvement of disposable income of individuals in a given developing country would provide economic progress on its domestic market. Furthermore, prostitution also attract more tourist to visit a country thereby giving way for the rise of the concept of â€Å"Sex Tourism† which improves the national income of developing countries especially Dominican Republic and Thailand. Among those developing countries, the Dominican Republic and Thailand have rampant prostitution on the streets as compared to other countries. Incidentally, this paper aims to determine the difference between the sex tourism in Dominican Republic and Thailand as well as the respective government policies that both identified countries implements in order to combat prostitution into their country. Sex Tourism in Dominican Republic Among the countries in the Caribbean region, the Dominican Republic serves as the primary destination for female sex tourism and tagged as the â€Å"single man’s destination†. Most of the prostitutes in the Dominican Republic are still minors and roughly equal to 25,000 in number. Some of the sex tourist destination in Dominican Republic would be the Rio San Juan, Cabarete, Sosua, Laperon, and their capital city Santo Domingo which accounts to roughly 50,000 prostitute women including underage prostitutes (Paralum. com, 2008). Most of the tourists in the Dominican Republic come from developed countries like United States and United Kingdom to name a few. It is already normal to see a foreigner from a developed country being accompanied by Dominican women. Prostitution seems to be socially acceptable in the society of Dominican Republic. Like for instance, it is normal for most of the bars to have waitresses that also offers sex service to their customers as well as they also tend to dress skimpy dress in order to attract tourist to go to their bar. Local police officers just let this kind of situation in exchange for bribe from the owners of the bars and stores on the â€Å"hot spots† of Dominican Republic. Furthermore, it is not only the local police that accept bribes from the owners of bars that also offers sex service, local authorities and some top government officials do accept payments from the bar owners in exchange for the latter’s safety from lawful dilemma (O’Connell Sanchez-Taylor, 1995). Most of the bars that offers sex service in Dominican Republic can be found on its shorelines and beaches. Last 2004, around 3. 4 million vacationers went to Dominican Republic which most of them only go after the prostitution industry on the said country (Gvnet. com, 2008b). This large number of tourist that visits Dominican Republic just for some flesh are too alarming since there is a high chance for various sexual diseases to spread across the said country. It was identified that Dominican prostitutes prefer not to use condom and will have sex on their clients on two hours for just 300 Pesos (Cohen, 2006). The main reason of most Dominican prostitutes why they entered such profession would be primarily because of poverty and lack of better job opportunity in the Dominican Republic. With the increasing need for sustain their basic necessities; Dominican women have no choice but to embrace prostitution as the main source of their income. Foreigners pay higher as compared to local customers of Dominican women and girls thereby giving way for the latter to attract more foreigners as their client which at the end of the day would increase the number of foreign visitors to Dominican Republic for its sex tourism. Just like most of developing countries that suffers to rampant prostitution, the main factor that triggers Dominican women and girls to enter such profession would be poverty and lack of better job opportunities. Furthermore, aside from poverty and lack of better job opportunities, another reason why Dominican women and girls enters prostitution would be due to lax policies and regulations on the part of the Dominican government officials. Known as one of the top corrupt countries around the globe, Dominican Republic government officials tends to let the booming of sex tourism on their country in exchange for some bribe from the owners of bars, and traffickers of prostitutes in Dominican Republic. Actually, there are two types pf prostitution in Dominican Republic. The first type would be the prostitution within the Dominican Republic while the second type would be the prostitution of Dominican Women and girls to other countries like United States, United Kingdom and Netherlands to name a few. Like for instance, around 10 percent of the total visas issued to Dominicans each year are for prostitution. Furthermore, there are around 50,000 Dominican women around the globe that serves to sex industry and this is the fourth highest number in the world after Thailand, Brazil, and Philippines. The extensive corruption on the borders of Dominican Republic contributes for the easy migration of Dominican women and girls to other countries for prostitution. Despite of the fact that most government officials of Dominican Republic that are corrupt and just ignore the sex tourism in their country, there are still significant number of responsible government officials in the said country, together with concerned citizens and Non-Government Organizations that works hand in hand in combating the worsening of prostitution industry in Dominican Republic. Various policies were passed in order to minimize the incidence of prostitution in Dominican Republic like the Code of the Minors which protects the rights, welfare, and interests of children and adolescents which the government will primarily provide (Ecpat. net, 2005). This Code of the Minor should minimize the number of minor that enters the profession of prostitution Furthermore, with the increasing concern from the global community some of the Dominican Republic officials are being forced to arrest and raid areas where prostitutions houses like in motels, bars, and other â€Å"hot spots† of sex tourism from the said country. With the efforts of the United States on providing aids to Dominican Republic in combating its rampant prostitution, still, the problem remains intact on the culture and norms of every Dominican women, girls, bar owners and foreigners as there will still be government officials of the Dominican Republic that continues to accept their bribes in order to let the operation of sex industry in Dominican Republic to continue. At the end of the day, it is clear that the efforts of various organizations and foreign government are useless unless the Dominican Republic government and citizen’s itself works hand in hand for the eradication of prostitution on their country. With poverty, corruption continues to exist on the systems of Dominican Republic it would be very hard to combat prostitution on the said country as prostitution already become part of its culture and norm. Sex Tourism in Thailand One of the impressive countries in terms of economic performance in the South East Asian Region, Thailand serves as the role model of its neighboring countries when it comes to attaining high economic growth and stable foreign currency in the international market. But despite of this economic success of Thailand rests a dim profession that most foreigners go after in search of short time pleasure. Sex tourism in Thailand, just like in Dominican Republic is also rampant on its streets as teenager prostitutes, most of them are college students, walks around tourist destination searching for prospect foreigner client. Actually, it is not only sex trading that is rampant in Thailand, exploitation, sex slavery and even organ harvesting are widespread on the streets of major cities of Thailand (LoBaido, 2002). Police officers tend to accept bribes from the prostitutes and traffickers in exchange for protection. Furthermore, policemen oftentimes are the one to perform exploitation to most Thai women; rape and other inhumane acts are being are just some of the dark experiences that Thai women and girls get from the streets (Sexwork. com, 1999). During the height of 1997 Asian Financial Crisis, a lot of households suffer financially which forces teenagers from college and high school to go for prostitution in order to sustain their education and their families (Gvnet. com, 2008a). As years past, after the said Asian Financial Depression, Thailand became known for its prostitution industry internationally. Large number of foreigners is visiting Thailand just for this human-flesh trading. Most of the Thai prostitutes hang up to malls, bars, streets, and even to motels and hotels wherein most foreigners can be found (Chirgwin, 2006). On the other hand, even after the recovery of Thailand from the 1997 Asian Financial Depression, prostitution remains intact on the streets and malls of major cities of Thailand. Not because these Thai women do not have enough money for their education and for their families but rather in order for them to sustain their luxury. With the rise of Thailand’s economy, various international malls wherein branded products dominate their market starts to made Thai college students addictive to shopping. In order to maintain this addiction of Thai women, they tend to go for prostitution. Furthermore, credit card industry in Thailand in the late 1990s starts to boom which forces every citizens of Thailand to avail credit card services. With this rise of credit card services plus the addiction of most Thai women to shopping, most them already have enough reason to embrace the profession of sex trading. Cyber sex and pornographies are starting to emerge in the Thailand underground market as credit card users can easily collect their payments online. Prostitution starts to become a part of Thailand’s culture since 1990s and it is already normal for a Thai college student to become a prostitute not because she is poor but rather in order to have enough money to sustain their luxurious cost of living. Bangkok, Pattaya, Phuket and Koh Samui are just some of the sex tourist destination in Thailand. In Koh Samui alone, there were around 10,000 prostitutes living in that area. If in Dominican Republic, motel, bars and beach resorts are the â€Å"hot spots† for human-flesh trading, in Thailand it would be the malls, saunas, and massage parlors. Furthermore, as compared to Dominican Republic, there are less minor prostitutes in the Thailand underground market for most of them are college students whose age ranges from 18-22 years old enough for them not to be considered as minors. In this regard, it is therefore clear that the present reason for most Thai prostitutes nowadays is not only mainly due to poverty but also due to the commercialization that is presently happening in the domestic market of Thailand. Most of the Thai prostitutes are college students that only want to have extra money to sustain their addiction to shopping and other expensive materials, while there are still significant number of Thai prostitutes that are not students and just go for human-flesh trading due to poverty and lack of better job opportunity. Furthermore, there are some Thai prostitutes expects for financial support from the men that they sleep with instead of the traditional concept of prostitutes like in Dominican Republic wherein paying the prostitute for her service would be enough and not financially supporting her. Despite of the rampant and negative connotation of prostitution to most countries, the Thai government is presently considering the legalization of prostitution to their country in order to combat corruption on its police force and government officials. Furthermore, the said plan for the legalization of prostitution in Thailand aims for increasing government’s income as government officials plans to impose tax collection to prostitutes on their country. Last 2003, the Ministry of Justice already posed its initial step for the legalization of prostitution in Thailand. Relative to other countries, the policies regarding the eradication of prostitution in Thailand is very lax just like in Dominican Republic since, as what has been identified a while ago, the Thai government plans to legalize prostitution into their country which would further boost the sex tourism industry in Thailand. Conclusion Despite of some similarities of sex tourism in Dominican Republic and Thailand, still, there are a great number of differences between these two countries that has been able to identify during the entire discussion of this paper. The effort of the Thai government to legalize prostitution makes the gap on the difference between the sex tourism industries on both countries to increase. Dominican Republic government officials do not have any intention to legalize prostitution into their country rather intensifying their policies in order to minimize the incidence of prostitution into their country. This really suggests that the Dominican Republic do not want to combat prostitution because if they do they will surely lose significant amount of bribes from the prostitute traffickers and bar owners. The increasing influence of commercialization to the domestic market of Thailand would just fuel up the rise of prostitution on the said country. At the end of the day, poverty remains the main factor for the existence of prostitution to most developing countries around the globe. References Chirgwin, V. (2008). Fact Book on Global Sexual Exploitation: Thailand. Retrieved April 21, 2008, from http://www. uri. edu/artsci/wms/hughes/thailand. htm Cohen, J. (2006). The Sun The Sand The Sex. Retrieved April 21, 2008, from http://www. sciencemag. org/cgi/content/full/313/5786/474 Dr1. com (2008). Dominican Republic Prostitution. Retrieved April 21, 2008, from http://www. dr1. com/articles/prostitution. shtml Ecpat. net (2005). Child Sex Tourism in Dominican Republic. Retrieved April 21, 2008, from www. ecpat. org. uk/downloads/Dom_Rep05. pdf Gvnet. com (2008a). Kingdom of Thailand: Child Prostitution- The Commercial Sexual Exploitation of Children. Retrieved April 21, 2008, from http://gvnet. com/childprostitution/Thailand. htm

How Standard English Differs From Malaysian English English Language Essay

How Standard English Differs From Malaysian English English Language Essay Communication is one of the most important aspects in our everyday activity. In fact, most of the activities we do are directly or indirectly related to communication. More than 300 million people in the world speak English and the rest sometimes seem to or are trying to. At the same time, English is spoken in many different varieties in dependence to the country, as what it is known throughout as the World Englishes. The British introduced English to Malaysia more than two centuries ago. It became the most important language for generations and it is often associated with power and prestige. However, in post-British era, when Malaysia became independent in 1957, English was made the second language in conjunction with the promotion of Bahasa Malaysia as the national language. Then, in the 1990s, spurred by the governments objective to push the nation into globalization, the importance of English increased. Today, Malaysians speak Standard English and Malaysian English. But here what is actually meant by Standard English and Malaysian English and how exactly it differs? What actually counts the Standard English will depend on both the locality and the particular varieties that Standard English is being contrasted with.  As a whole, Standard English is also known as Standard Written English or SWE, is the form of English most widely accepted as being clear and proper. It is regarded as the most appropriate and most commonly used form of English around the world and is acknowledged as the model of speech and writing of educated speakers. While on the other hand, Manglish is a Malaysian speaking style, just like the Singaporean English, Singlish. This is a distorted use of English that is mainly spoken between the locals and sometimes is also referred to as a rojak language. So, how is Standard English differs from Malaysian English? In Malaysia, we regard Malaysian English as bahasa rojak. (Johnleemk, 8 Mac 2007). Rojak is a malay word, loosely translated actually means a mixture of. Same goes to in Malaysian context. We regard our English as rojak English. Malaysians, are very lucky to have many different races speaking many different languages and still staying together peacefully under one nation. The variety known as Malaysian English has, among various factors, the local languages as one of the ingredients that colour this variety. These local languages mentioned being basically Malay, Chinese and Tamil. Such indigenized varieties are most often used in an informal communicative variety. This means  using  the English language with a mixture of the Malay words, Chinese dialects and Tamil. For example, in an informal communication, people more often than not used the word lah , aaah and aiyoo. Lah is used to emphasise, Aaah is usually followed by a question mark and Aiyoo is often accompanied by the excl aimation mark. For example, Aiyoo, why you so late one huh? and faster lah. This kind of Manglish spoken sentences are only understood by Malaysians and not tourists. Recently, I read an article where, an English spoken tourist who came to Malaysia commented on the Malaysian English. It sounds curiously like English, but I couldnt understand what was being said. How is the tourist going to understand if the English is spoken in this manner, My car, 4 months never pay. The finance people are going to pull already. Myself, where got money. Aiyoo! Die lah like that. This actually means I have not paid up my car installments in 4 months. The finance company is going to reposess it soon. I dont have the money. Argh! Im done for. The main point on how Malaysian English differs from Standard English is the words spoken which are used in the speaking of English language. In Standard English we use words which can be understood by everyone whereby in Malaysian English, we mix all the languag e into English whereby only Malaysians can understand the whole meaning of the sentence. Besides that, Standard English differs from Malaysian English in terms of pronunciations of words. As I have explained in the above context, Malaysia is a well diverse country with the Malaysians speaking many different dialects. So, English is a second language in this country. If compared to the British, the one main language spoken there is English. Here, in Malaysia, the English spoken here is mixed with many different dialects spoken by the different ethnics in Malaysia. Thus, one thing we need to bear in mind here that most of the pronunciations mistake relates to mother tongue interference. For example, this piece is taken from the Start Online, There are many points in Hussainis article that I can comment on, but Ill just choose two examples he gave as wrong pronunciation of English words, head and said, which he claimed were mispronounced as had and sad.  The Longman Dictionary of Contemporary English  and other mainstream dictionaries give the pronunciation of the words as /hed/ and /sed/, using the International Phonetic Alphabet system and hence they would actually sound almost like had and sad but with shorter vowel sounds. Perhaps Hussaini thought head should sound like /heÄ ±t/ and said like /seÄ ±d/, which are actually Malaysian English pronunciation of the words. Some other words Malaysian pronounce differently are their (Malaysians read it as thee-ya but its actually is there) , Wednesday ( Malaysians pronounce it as wed-nes-day but its actually wenz-day), question ( Malaysians read as ques-tion but its actually ques-chen), procedure ( Malaysians pronounce it as prou-si-dear but it is pre-si-jer) and many other words. At the same time, In Malaysian English, the last syllable of a word is sometimes not pronounced with the strength that it would be in British English. So, here we can see Malaysian English differs in terms of pronunciation of words, whereby it is mostly affected by the interference of the different dialects in Mal aysia. Standard English also differs from Malaysian English in terms of grammar. There are many Manglish grammatical structures taken from Chinese dialects and many claim that the structure is also borrowed from the malay language. For example, the phrase Why you so like that one? in standard English it means Why are you behaving in that way. In Cantonese, a similar phrase would be rendered as Dà ­mgà ¡ai nà ©ih gà ¡m ge? or literally Why you like that? The one in the sample phrase does not literally mean the numeral one; instead it is used more as a suffix device. It is also sometimes rendered as wan.One other characteristic is  anastrophe  and omission of certain prepositions and articles. For example I havent seen you in a long time in standard English becomes Long time no see in Malaysian English. Not only are those, even to the certain extent the words used in Standard English and Malaysian English also different. With the variety of influences Malaysian English is gradually fo rming its own vocabulary. Typically, these words are based on other English words but most of the time the Malaysian speaker is unaware that these words are not the words from the standard use of English or even from British or American English. For example, one of the most used words in Malaysia is hand phone but it is actually a mobile phone or a cell phone. Malaysian use brinjal, but the right use of that vegetable is eggplant or Aubergine, the standard word for MC is actually sick note and gostan which is used in Malaysia is actually reverse or to go backwards in Standard English. Moreover, some of the same words found in Standard English and Malaysian English have different meaning. For example, bungalow. In Standard English it means a small house or cottage usually having a single storey and sometimes an additional attic story that is free standing, i.e. not conjoined with another unit. But in Malaysian English it means a mansion for the rich and/or famous; or a fully detached house, regardless of the number of floors it has. (absolute astronomy). Currently, many different English varieties, which are called World Englishes, are spoken all over the world. Malaysian English, one of the World Englishes, has an important role as an inter-ethnic lingua franca in the Malaysian community. Since language is closely related to identity, even if the Malaysian government carries on the language policy which ignores the relationship between language and identity, the policy will have little effect on Malaysian language use and attitudes. At the same time, I believe that it is not wrong using Malaysian English, we should always minimize the usage and avoid speaking Malaysian English in formal situation. On the other hand, standard English should always be uphold and given the highest priority as English is becoming the highest medium of communication everywhere around the world. Thus, the difference between Malaysian English and Standard English can be lessened if there is a commitment from every individual to improve the standard of Engl ish in Malaysia.

Organizational Structures that are Suitable in the Business Circumstances Today :: Papers

Organizational Structures that are Suitable in the Business Circumstances Today The world today is experiencing the most rapid pace of change in its history. The purpose of this essay is to discuss what organizational structure is suitable in the business circumstances of today. This essay will argue that ‘the environment of the 21st century is such, that to be effective, organizations are tending towards less formalized structures than used in the past’. To support this argument, firstly organizations will be defined, and then the properties that make an organization effective will be identified. Next organizational structure will be appraised, and what constitutes business environment will be established. Finally the influences globalisation and technology have had on the will be addressed in relation to changes in organizational structure. Robbins et al. define an organization as ‘a deliberate arrangement of people to accomplish some specific purpose’ (2000: 5). While Wood et al. consider organizations as ‘collections of people working together in divisions of labour to achieve a common purpose’ (1998: 15). These definitions fits a wide variety of groups such as sporting clubs, religious bodies, voluntary associations etcetera however for this essay will concentrate on business organizations. A Business organizations’ purpose is to deliver and product or service in such a way that a benefit is gained for the organization, profit or goodwill for example. The Macquarie dictionary is defines effective as ‘producing the intended or expected result and producing a striking impression’ (1990). Thus an effective organization is an arrangement of people that successfully achieved their purpose, ie. a large profit of fine product, and have done so in a noteworthy, exemplary, commendable method or fashion. It is understood that to be effective an organization must be efficient. Efficiency is defined as ‘the relationship between inputs and outputs, the goal of which is to minimize resource cost’ (Robbins et al., 2000: 8). Usually a business organizations’ success is primarily measured in financial profit, though this is not the only benchmark. Organizational structure is defined as ‘the organization’s formal framework by which job tasks are divided, grouped and coordinated’ (Robbins et al., 2000: 351). Generally an organizations’ structure is considered to be the managerial framework that directs the non-managerial employees. Traditionally western organizational structure can be argued to have developed from the feudal system of government where a strict pyramidal power and class structure existed.

Vishal Engineering Case Solutio

VISHAL  ENGINEERING  ENTERPRISES  CASE  SOLUTION DATA  GIVEN Total  Assets Total  Sales Growth  Rate Cut? off  rate Option  1 Purchase  Price Pre  Tax  Benefits Depreciation Option  2 Lease  Rental Maintenance Post  Tax  Cost  of  Borrowing Option3 Hire  Purchase  Instalment Interest  rate   Useful  Life Analysis  ? Option  1  ? Ownership  and  Operation Rupees  in  Lakhs Sr. No 1 2 3 4 5 6 7 8 Particulars Intial  Cost Benefits  Received Depreciation  (WDV  @  25%) Tax  Sheild  On  Depreciation  (3  x  . 35) Net  Salvage  value Post  Tax  Cash  Flow  (1+2+4+5) Discount  Factor  @  12% Present  Value  (6/7) TOTAL  NPV 0 ? 5. 000 1 18. 000 18. 750 6. 563 ? 75. 000 1. 000 ? 75. 000 24. 563 0. 893 27. 510 2 18. 000 14. 063 4. 922 22. 922 0. 797 28. 753 3 18. 000 10. 547 3. 691 21. 691 0. 712 30. 475 Year 4 18. 000 7. 910 2. 769 20. 769 0. 636 32. 680 222. 368 5 18. 000 5. 933 2. 07 6 20. 076 0. 567 35. 382 6 18. 000 4. 449 1. 557 19. 557 0. 507 38. 603 7 18. 000 3. 337 1. 168 19. 168 0. 452 42. 374 8 18. 000 2. 503 0. 876 6. 000 24. 876 0. 404 61. 592 270 Crores 256 Crores 23% 12% 75 Lakhs 18 Lakhs  per  year 25% WDV 14 Lakhs  per  year 1. 75 Lakhs  per  year 9. 50% 18. 75 Lakhs  per  year 12% 8 Years Analysis  ? Option  2  ? Lease  Contract Rupees  in  Lakhs Sr. Particulars No 1 Intial  Cost 2 Depreciation  (WDV  @  25%) Loss  of  Tax  Sheild  On  Depreciation   3 (2  x  . 35) 4 Lease  Payment Tax  Sheild  On  Lease  Payment   5 (4  x  . 35) 6 Loss  of  Slavage  Value 7 Post  Tax  Cash  Flow  (1+3+4+5+6) 8 Discount  Factor  @  9. 5% 9 Present  Value  (6/7) 10 TOTAL  NPV  ? Cash  Flow 11 LRt(1? Tc) 12 Present  value  (11/8) 13 Present  Value  of  lease 0 75. 000 1 18. 750 ? 6. 563 ? 14. 000 4. 900 75. 000 1. 000 75. 000 ? 14. 663 0. 913 ? 16. 055 ? 9. 00 ? 9. 965 2 14. 063 ? 4. 922 ? 14. 000 4. 900 ? 12. 022 0. 834 ? 14. 415 ? 9. 100 ? 10. 911 3 10. 547 ? 3. 691 ? 14. 000 4. 900 ? 9. 791 0. 762 ? 12. 855 ? 9. 100 ? 11. 948 Year 4 7. 910 ? 2. 769 ? 14. 000 4. 900 5 5. 933 ? 2. 076 ? 14. 000 4. 900 6 4. 449 ? 1. 557 ? 14. 000 4. 900 7 3. 337 ? 1. 168 ? 14. 000 4. 900 8 2. 503 ? 0. 876 ? 14. 000 4. 900 ? 6. 000 ? 7. 976 0. 484 ? 16. 485 ?7. 869 ? 6. 176 ? 4. 657 ? 3. 268 0. 696 0. 635 0. 580 0. 530 ? 11. 312 ? 9. 723 ? 8. 028 ? 6. 168 ? 20. 043 ? 9. 100 ? 9. 100 ? 9. 100 ? 9. 100 ? 9. 100 ? 3. 083 ? 14. 326 ? 15. 687 ? 17. 177 ? 18. 809 ? 111. 903 FOSSILS 1 VISHAL  ENGINEERING  ENTERPRISES  CASE  SOLUTION Analysis  ? Option  3? Hire  and  Purchase Total  Cost Interest  Component Total  Cost  +  interest  =   Hire  Purchase  Installment  per  year 75 Lakhs 72 Lakhs 147 18. 375 Lakhs Life  Exp. 8 years Rupees  in  Lakhs Sr. No 1 2 3 4 5 6 7 8 9 10 11 12 Particulars Hire  Purchase  Installm ent Interest  Component Principal  Repayment 0 1 18. 375 16. 794 1. 581 ? 10. 916 ? 1. 581 18. 750 12. 188 ? 0. 310 0. 913 ? 0. 339 2 18. 375 14. 567 3. 808 ? 9. 469 ? 3. 08 14. 063 9. 141 ? 4. 136 0. 834 ? 4. 959 3 18. 375 12. 340 6. 035 ? 8. 021 ? 6. 035 10. 547 6. 855 ? 7. 200 0. 762 ? 9. 454 Year 4 18. 375 10. 113 8. 262 ? 6. 574 ? 8. 262 7. 910 5. 142 ? 9. 694 0. 696 ? 13. 936 ? 120. 137 5 18. 375 7. 887 10. 488 ? 5. 126 ? 10. 488 5. 933 3. 856 ? 11. 758 0. 635 ? 18. 511 6 18. 375 5. 660 12. 715 ? 3. 679 ? 12. 715 4. 449 2. 892 ? 13. 502 0. 580 ? 23. 274 7 18. 375 3. 433 14. 942 ? 2. 231 ? 14. 942 3. 337 2. 169 ? 15. 004 0. 530 ? 28. 321 8 18. 375 1. 206 17. 169 ? 0. 784 ? 17. 169 2. 503 1. 627 6. 000 ? 10. 26 0. 484 ? 21. 342 ?It(1? Tc) ?PRt Depriciation Dt(Tc) NSVn Total  (4  to  8)  ? 6 Discount  Factor  @  9. 5% Present  Value Present  Value  of  Hire? Purchase 1. 000 Hence  from  the  above  we  see  that  the  cost  of  the  Hire? Purchase  option  in  Present  value  Term  is  more  that  that  of  the  leasing  option. So  Vishal  Enterprises  should  go  for  Leasing  option  instead  of  Hire  Purchase. Also  if  the  option  of  Purchasing  and  Owning  the  equipment  is  considered,  it  has  a  very  favourable  NPV  and  this  can  be  considered as  the  best  option  for  Vishal  Enterprises. FOSSILS 2