Reaction paper Essay Example | Topics and Well Written Essays - 250 words - 22

Reaction paper - Essay Example As he toured Auschwitz, Cole described humanitarian structures such as a â€Å"disinfestation complex,† theater and swimming pool inside of the camp. These structures call into question the function of the prison. If prisoners were sent to Auschwitz to be murdered, why should the Germans provide hygiene, entertainment and exercise to them? Coles interview with Dr. Franciszek Piper, curator of the Auschwitz State Museum, is the focus of the video. Cole disputes the Holocausts existence because there is no proof, â€Å"theres no picture, plan or wartime document dealing with homicidal gas chambers or a plan to exterminate Jews† (Cole). He tries to provide a â€Å"perfectly normal explanation† for the materials and exhibits which define the Holocaust (Cole). Poison gas was used for disinfection, dead bodies were caused by a Typhus epidemic and discarded clothing came from naturally deceased prisoners. The interview with Dr. Piper is primarily concerned with the Auschwitz gas chamber. Cole questioned the function of this building because it had been changed since the end of the war. While Piper believed that four holes were drilled in the ceiling of this building for the purpose of killing prisoners, Cole believed that these holes were drilled after the camp was liberated by Soviet forces during the camps reconstruction. Cole points to aerial photographs as evidence of the new construction. Cole also cited the lack of Zyklon B residue in the chamber as proof that it was never used to kill humans. Cole then turned from the institution to the numbers. Traditionally, the Holocaust is stated to have killed eleven million Jews and non-Jews. These figures are based on Soviet claims made after the war which Cole does not accept. Cole compared it to American prison camps where, â€Å"anywhere from several hundred thousand to over two million† Germans died (Cole). To him, this was e vidence that all camps of this era were

Time (Movie Review) Thesis Example | Topics and Well Written Essays - 1000 words

Time (Movie Review) - Thesis Example The conflict in the story begins when the woman decides to undergo plastic surgery to rekindle the waning intimacy of her relationship with her boyfriend. She instantly disappears without letting her boyfriend know and keeps her plan a secret. Her boyfriend, meanwhile, dates other women but maintains his love for his runaway girlfriend. After six months of recovering from plastic surgery, the woman resurfaces and falls in love again with his estranged boyfriend. The renewed relationship between the two is tested once more as questions of personal identity, love, and beauty emerge to the fore and devastate their once peaceful existence in time. A social commentary on plastic surgery, the film puts women as the main object of criticism in the story. Various models of women were embodied by the characters in the film. Aside from the low self-esteemed character who underwent plastic surgery, there were entertainers, a prostitute, and a confident woman who did not have identity problems. The film aims to provide a landscape of women in Korea. The landscape of these women in the film, in turn, becomes the stage on which the viewers would compare and contrast one woman character from another woman character to actual Korean women in the real world. In the film, their worth is neither measured by educational attainment nor by the ability to bear children and be good wives as possible; instead the measure of their worth depends on how well they sustain an attractive physical appearance, a beautiful face, and the ability to constantly look new, fresh, and desirable to men. â€Å"Aren’t you sick of the same body?†, as asked by one of the men in the film becomes a universal question that unconsciously haunts every Korean woman and their male partner. On a subtle level, the film seems to validate the patriarchal ideology in South Korea where men decide, in this case, what is beautiful and what is a possible candidate for a plastic surgery. But Korean women

Implementing the Budget Essay Example | Topics and Well Written Essays - 750 words

Implementing the Budget - Essay Example The overall aims of budget analysis entails ensuring organizations are efficient and also financially solvent. The revenue variance will be analyzed based on the actual first month income and also actual third month income values. The variance after the first month is calculated as $130,000,000-$11,700,000. This translates into $118,300,000. Likewise the revenue variance after the third month is calculated as $130, 000,000-$41,400,000. This translated to variance of $88,600,000. All the revenue sources of the Transport Department are aids. The annual foreign aid was budgeted at $30,000,000. The annual budgeted state aid was valued at $80,000,000. The annual local aid was valued at $20,000,000. The total aid revenue, therefore, translates to $130,000,000. The revenue variation illustrates difference between the budgeted amount and the actual revenue amount received. The expenditure variance is also calculated based on the first month actual expenditure, and the third month actual expenditure values. The actual first month expenditure value is $9,910,000 while the budgeted annual expenditure value is $129,961,759. The variance is calculated as 129,961,759-9,910,000. This gives $120,051,759 variance. The variance calculation after the third month is $129,961,759-$25,020,000. This gives variance value of $104,941,759. The transport Department faces a lot of challenges during implementation of the budgeting process. These challenges include; time delay, standard setting and variance source information. The Transport Department faces time delay in relation to compiling variance at every month end (Kiego, 2007). For instance, in our analysis, variance was calculated at the end of the first month and at the end of the third month. This compilation of financial data takes a lot of time. The compilation must be adequately done before submitting the results to the department’s management team. In a

Organizational Behavior-Communication Essay Example for Free

Organizational Behavior-Communication Essay 1. Present which channels of communications should be emphasized and how these channels will be used to ensure that the traditional departments (e.g., IT, human resources, customer service, and sales) at SWC headquarters have necessary accurate and timely information. Communication in an organization or company is very important in achieving goals and objectives. It is oftentimes used in relaying information, messages and issues that concern the success of a company or organization. It is the medium used by most of the high ranking officials and members to have an organized and timely delivery of information in every office or department for instance. Various types of communication or channels had been used. These communication channels are used by the companies to convey and interact well with the employees in order to improve and attain growth of the organization. There are two types of channels—indirect and direct communication. Indirect communication is used when the interaction is not face-to-face. It uses medium such as different types of technologies like computers, monitors and among others. The most common type of indirect communication is the teleconferencing.   On the other hand, direct communication is a face-to-face type of communication. This is common when all of the members of the team are present in just one area. 2. Which channels will be key to those work teams with all members located within headquarters? In the case of SWC, all of the members of the team are within the headquarters, it is best to use direct communication. In relaying this message , a memo can be sent to the members of the team to inform them of the activity that will be done within the headquarters. It is a common knowledge that doing a meeting or gathering within a certain place when all of the people are present, it is best to employ the direct communication. If the head of the department do not have the time to write a memo the most common thing done is to send an email to the members stating the information and issues that should be discussed and later on meet face-to-face with the members. It is not advisable that the leader will just send an email to all the members even if all are present within one area. On the other hand, an email might be good to relay the information fast and easy but still it connotes something to the members. The members might think that the leader of the team is not interested in talking with them. So, there are also strengths and weaknesses of these channels. But in this case, a good leader nurtures a relationship with the members through constant socialization, constant talking with them and assuring that the company is still wants them and will be like a friend that whenever the company decides to change leadership and people the members will be the first to know. It is showing of sincerity with the members of the team. In a study done by the Harvard business school, they projected what a good manager is. They found out that the effective manager spends more than 80 percent of their time in interacting with their personnel and staff. Furthermore, their study said that interaction and conversations within the working area is important in leading a company or organization. It is human capital and social capital that is working in order to achieve and create what the company wants such as increasing productivity while enhancing innovation. In another research done by Ron Burt from the University of Chicago, a leading researcher on the social capital of managers has found, through numerous studies, that certain patterns of connections that individuals build with others brings them higher pay, earlier promotions, greater influence, better ideas and overall greater career success. Burt believes that good social capital provides a much higher return on investment in human capital the two work together. (K rebs, 2005) In another research done at the Norwegian school of economics, a manager or team leader with a better social networking were more productive since they are sincere with their work, they can easily coordinate with the members without hesitation and coordinate tasks in order to finish a certain project and accomplish the goals and objectives of the project (Krebs, 2005). 3. We may have virtual self-managed teams with members located in different parts of the world. The members have yet to meet each other. These teams are each focusing on designing and delivering specific products to certain customers by designated dates. On the other hand, while face-to-face interaction is important in achieving productivity the introduction of various technologies cannot be ignored. Some of the teams of SWC are located in various areas where there is difficulty of meeting face-to-face. In this kind of interaction, teleconferencing has been used by many organizations and companies in order to hold a meeting or to discuss an issue that concerns the company. Also, one of the successful interactions is through networking. This technology helps individuals communicate with each other even if it is across the world. It is a laborious and costly though but once it is set up many of the staff outside the headquarters will benefit from it. From this networking there will be better information flow and exchange of communication among the team members(Lussier, 2005) If SWC were to consider the virtual self-managed teams, below are some key areas that would be evaluated. A virtual self-managed team has been around the globe today. It is used by the outsourcing companies such as call centers, medical transcriptionist, and even tutorials online. Through the introduction of the technology people have embraced this and been nurturing and disseminating it to the others. But before going into a deeper context of the virtual self-managed team, a creation of this team is very important such as choosing the right person to manage and disseminate information. There are a lot of criteria in choosing the person. One of this is the knowledge and skills on the technology that will be used in the entire implementation of the project or program. Individuals who are adept with various types of technologies and willing to be trained again and again just to ensure that there will be no problems later on in the implementation.   Individuals who have lots of connections and networks that can assist them with their problems in terms of technology. Individuals who are willing to share later on their knowledge and not be tacit about the new information and studies so that there will be transfer of skills., and someone that cannot only design programs but can facilitate information flow and sharing of knowledge. a. What communication channel(s) would you recommend for the initial meeting? For the initial meeting of the team, it would be best that is done face-to-face. This is the first meeting so it should build rapport with each other. Even if there are the use of technologies later on, at least during the initial meeting and introduction of each other there already a communication among them. b. What communication channel(s) would you recommend as key interactions (you are not limited to those channels listed in the exhibit)? Later on, after the initial meeting the team can discuss issues through teleconferencing, phone calls, chat messengers and among others that might not require the presence of each other and spend costly fares just to be in one place. Organization of the issues beforehand is also important because this will identify how urgent the meeting should be or is it just one of the meetings and phone calls would be enough. c. Explain how these teams will meet the challenges of each of the stages of group/team development. Engaging in this kind of set-up, virtual self-managed team, is difficult to maintain though. It will require energy because this does not only entail communication but it also needs feedback and learning (source) among the team members. In order to meet these challenges there should be a constant communication even it is called â€Å"virtual† because through this monitoring can be done as well as learning along the way. d. What challenges does diversity present? What must be done to meet these challenges? Diversity in people is very challenging. Every person has its own personality, culture and attitude. Constant learning through trainings can be a good answer to it. e. From a communications point of view, what are the advantages and what are the disadvantages of virtual self-managed-teams? Virtual self-managed team is cost-effective. The only costs that will be incurred are the gadgets that will be used during the networking and conferencing. It can also be done anywhere and anytime of the day. Just put the set up and voila there will be a meeting in the middle of beach. On the other hand, it has also disadvantages. Since it will not require the presence of the person it does not nurture a relationship and does not build rapport among the team. Oftentimes than not, the reaction and the feelings will be not be felt if it is only in the monitor or phone calls. Conversations can be faked and might build walls.

Superoxide Anion Radical Scavenging Activity Biology Essay

Superoxide Anion Radical Scavenging Activity Biology Essay Where A518 control is the absorbance of DPPH radical+ methanol; A518 sample is the absorbance of DPPH radical + extract or compound / standard. Superoxide anion radical scavenging activity Superoxide radical (O2-) was generated from the photoreduction of riboflavin and was deducted by nitro blue tetrazolium dye (NBT) reduction method. Measurement of superoxide anion scavenging activity was performed based on the method described by Winterbourne et al 186. The assay mixture contained sample with 0.1ml of Nitro blue tetrazolium (1.5 mM NBT) solution, 0.2 ml of EDTA (0.1M EDTA), 0.05 ml riboflavin (0.12 mM) and 2.55 ml of phosphate buffer (0.067 M phosphate buffer). The control tubes were also set up where in DMSO was added instead of sample. The reaction mixture was illuminated for 30 min and the absorbance at 560 nm was measured against the control samples. Quercetin was used as the reference compound. All the tests were performed in triplicate and the results averaged. The percentage inhibition was calculated by comparing the results of control and test samples. Total antioxidant activity (Phosphomolybdic acid method)187 The antioxidant activity of the sample was evaluated by the transformation of Mo (VI) to Mo (V) to form phosphomolybdenum complex. An aliquot of 0.4 ml of sample solution was combined in a vial with 4 ml of reagent solution (0.6 M sulfuric acid, 28 mM sodium phosphate and 4 mM ammonium molybdate). The vials were capped and incubated in a water bath at 950C for 90 min. After the samples had cooled to room temperature, the absorbance of the mixture was measured at 695 nm against a blank. The antioxidant activity was expresses relative to that of ascorbic acid. Determination of Hydroxyl radical scavenging activity This was assayed as described by Elizabeth and Rao.188 The assay is based on quantification of degradation product of 2-deoxy ribose by condensation with TBA. Hydroxyl radical was generated by the Fe3+ -Ascorbate -EDTA -H2O2 system (Fenton reaction). The reaction mixture contained 0.1 ml deoxyribose (2.8mM),0.1 ml EDTA (0.1 mM), 0.1 ml H2O2 (1mM), 0.1 ml Ascorbate (0.1mM), 0.1 ml KH2PO4-KOH buffer, pH 7.4 (20mM) and various concentrations of plant extract in a final volume of 1 ml. The reaction mixture was incubated for 1 hour at 370 C. Deoxyribose degradation was measured as TBARS and the percentage inhibition was calculated. Determination of Nitric oxide radical scavenging activity Nitric oxide generated from sodium nitroprusside in aqueous solution at physiological pH interacts with oxygen to produce nitrite ions, which were measured by the method of Garrat.189 The reaction mixture (3ml) containing 2 ml of sodium nitroprusside (10mM), 0.5 ml of phosphate buffer saline (1M) were incubated at 250C for 150 mins. After incubation, 0.5 ml of the reaction mixture containing nitrite was pipetted and mixed with 1 ml of sulphanilic acid reagent (0.33%) and allowed to stand for 5 min for completing diazotization. Then 1 ml of naphthylethylene diamine dihydrochloride (1% NEDA) was added, mixed and allowed to stand for 30 mins. Sodium nitroprusside in aqueous solution at physiological pH spontaneously generates nitric oxide, which interacts with oxygen to produce nitrite ions which can be estimated by the use of Griess Illosvery reaction at 540 nm. FRAP assay A modified method of Benzie and Strain 190 was adopted for the FRAP assay. The stock solutions included 300 mM acetate buffer, pH 3.6, 10 mM TPTZ (2, 4, 6-tripyridyl-S-triazine) solution in 40 mMHCl and 20 mMFecl3. 6H2O. The fresh working solution was prepared by mixing 25 ml acetate buffer, 2.5 ml TPTZ and 2.5 ml Fecl3 .6H2O. The temperature of the solution was raised to 370 C before using. Plant extracts (0.15 ml) were allowed to react with 2.85 ml of FRAP solution for 30 min in the dark condition. Readings of the colored product (Ferrous tripyridyltriazine complex) were taken at 593 nm. The standard curve was linear between 200 and 1000  µM Feso4. Results are expressed in  µM (Fe (II) /g dry mass and compared with that of ascorbic acid. Iron chelating activity The method of Benzie and strain190 was adopted for the assay. The principle is based on the formation of O-Phenanthroline-Fe2+ complex and its disruption in the presence of chelating agents. The reaction mixture containing 1 ml of 0.05% O-Phenanthroline in methanol, 2 ml ferric chloride (200 µM) and 2 ml of various concentrations ranging from 10 to 1000 µg was incubated at room temperature for 10 min and the absorbance of the same was measured at 510 nm. EDTA was used as a classical metal chelator. The experiment was performed in triplicates. Estimation of total phenol The measurement of total phenol is based on Mallick and Singh.191 To 0.25g of sample, added 2.5 ml of ethanol and centrifuged at 2oC for 10 mins. The supernatant was preserved. Then, the sample was re-extracted with 2.5 ml of 80% ethanol and centrifuged. The pooled supernatant was evaporated to dryness. Then, added 3 ml of water to the dried supernatant. To which added 0.5 ml of Folins phenol reagent and 2 ml of sodium carbonate (20%). The reaction mixture was kept in boiling water bath for 1 min. the absorbance was measured at 650 nm in a spectrophotometer. Estimation of total flavonoids 192 0.2g of the plant material was ground with ethanol-water in 2 different ratios namely 9:1 and 1:1 respectively. The homogenate was filtered and these 2 ratios were combined. This was evaporated to dryness until most of the ethanol has removed. The resultant aqueous extract was extracted in a separating funnel with hexane or chloroform. The solvent extracted aqueous layer was concentrated 0.5 ml of aliquot of extract was pipette-out in a test tube. 4 ml of the vanillin reagent (1% vanillin in 70% conc. H2SO4) was added and kept in a boiling water bath for 15 mins. The absorbance was read at 360 nm. A standard was run by using catechol (110  µg/ml).

The Relation of Thought and Emotion in William Wordsworth’s Surprised b

The Relation of Thought and Emotion in William Wordsworth’s Surprised by Joy    Dr. Branson's comments: This essay was written in response to an explication exercise in a course designed to introduce students to the fundamentals of the English major. It demonstrates not only excellence as an explication, but also as an interdisciplinary application of psychological theory to literary analysis.    In the sonnet "Surprised by Joy," William Wordsworth relates an episode of his struggle to cope with the death of his young daughter. That this elegiac poem, written to express grief, begins with joy is a testament to its emotional complexity. Although the poem's emotions range between exposing extremes, the thoughts of the narrator remain stable. As he relates his experience, he looks back with an unfaltering conviction that nothing but sorrow must result. Cognitive psychology's concept of dissonance provides a useful insight into the relationship of thought and emotion in the sonnet. According to dissonance theory, when thoughts and emotions seem to contradict each other, a state of anxiety, called cognitive dissonance, will result. This anxiety motivates attempts to achieve stability by restoring the unity of thought and emotion~ In accord with the cognitive viewpoint, this sonnet differentiates between two types of emotions: those that are independent of conscious thought and are characterized as transient, instinctive, and arousing, and those that comply to conscious thought and are characterized as permanent, orderly, and tranquil. "Surprised by Joy" is a Miltonic sonnet with the turn occurring roughly in the middle of the first line of the sestet. Wordsworth uses the sonnet form to create tension in the octave and resol... ... The narrator's progression from instinctive to thought-based emotion is the central event in the poem. The psychological struggle that this progression represents concludes in a defeat. The joy and love that initially overtake the narrator can be seen as a sign that he is ready to abjure his grief-ridden thoughts and recognize a lingering spiritual bond with his daughter. He instead rejects these impulses. Thought is the component of our internal environment that we can directly control, and with it we can actualize or suffocate emotions. The narrator uses his thoughts to reject joy and accept sorrow. In this way, he perpetuates his grieving in the face of impending happiness. Work Cited Wordsworth, William. "Surprised by Joy." The Norton Anthology of Poetry. Ed. Margaret Ferguson, Mary Jo Salter, and Jon Stallworthy. 4th ed. New York: Norton, 1996. The Relation of Thought and Emotion in William Wordsworth’s Surprised b The Relation of Thought and Emotion in William Wordsworth’s Surprised by Joy    Dr. Branson's comments: This essay was written in response to an explication exercise in a course designed to introduce students to the fundamentals of the English major. It demonstrates not only excellence as an explication, but also as an interdisciplinary application of psychological theory to literary analysis.    In the sonnet "Surprised by Joy," William Wordsworth relates an episode of his struggle to cope with the death of his young daughter. That this elegiac poem, written to express grief, begins with joy is a testament to its emotional complexity. Although the poem's emotions range between exposing extremes, the thoughts of the narrator remain stable. As he relates his experience, he looks back with an unfaltering conviction that nothing but sorrow must result. Cognitive psychology's concept of dissonance provides a useful insight into the relationship of thought and emotion in the sonnet. According to dissonance theory, when thoughts and emotions seem to contradict each other, a state of anxiety, called cognitive dissonance, will result. This anxiety motivates attempts to achieve stability by restoring the unity of thought and emotion~ In accord with the cognitive viewpoint, this sonnet differentiates between two types of emotions: those that are independent of conscious thought and are characterized as transient, instinctive, and arousing, and those that comply to conscious thought and are characterized as permanent, orderly, and tranquil. "Surprised by Joy" is a Miltonic sonnet with the turn occurring roughly in the middle of the first line of the sestet. Wordsworth uses the sonnet form to create tension in the octave and resol... ... The narrator's progression from instinctive to thought-based emotion is the central event in the poem. The psychological struggle that this progression represents concludes in a defeat. The joy and love that initially overtake the narrator can be seen as a sign that he is ready to abjure his grief-ridden thoughts and recognize a lingering spiritual bond with his daughter. He instead rejects these impulses. Thought is the component of our internal environment that we can directly control, and with it we can actualize or suffocate emotions. The narrator uses his thoughts to reject joy and accept sorrow. In this way, he perpetuates his grieving in the face of impending happiness. Work Cited Wordsworth, William. "Surprised by Joy." The Norton Anthology of Poetry. Ed. Margaret Ferguson, Mary Jo Salter, and Jon Stallworthy. 4th ed. New York: Norton, 1996.

“a Comparative Study of Personal Financial Planning Awareness and Its Degree of Implementation Among Age Groups.”

Abstract Financial planning may mean different things to different people. For one person, it may mean  planning investments  to provide security during retirement. For another, it may mean planning savings and investments to provide money for a dependent's college education. Financial planning may even mean making career-related decisions or choosing the right insurance products. In reality Financial Planning is the process of meeting financial goals through the proper management of finances.It is generally seen that people have a misconception that financial planning is about saving more and spending less but that is not the case, it is more about saving the right amount so that future goals can be met. The objective of financial planning is * To ensure that the right amount of money is available in right hands at right point of time in the future to achieve the desired goals and objectives. It * Provides direction and meaning to your financial decisions. * It allows you to und erstand how each financial decision you make affects other areas of your finances. Financial planning and investments can be undertaken by anyone with a clear assessment of one's inflow of funds and the goals that need to be achieved from time to time. Keywords: Financial planning, wealth management, investment instruments, real estate Introduction Financial planning is achieving your financial goals in the most efficient manner. The broad areas of financial planning include  Ã¢â‚¬â€œ | | | 1. 2. | Investment planning  -Your wealth will only grow over time if you have invested it in assets. Investment planning  deals with the kind of investments an individual should invest in to get the best out of his wealth.Financial StatementsIn this the risk and return profiling of an individual is done based on his life stage, spending requirements with respect to his income and wealth, time horizon and liquidity requirements and various individual specific constraints. Investment Plannin g is important because it helps you to derive the maximum benefit from your investments. | Cash flow planning  Ã¢â‚¬â€œ In simple terms, cash flow refers to the inflow and outflow of money. It is a record of your income and expenses. Though this sounds simple, very few people actually take time out to find out what comes in and what goes out of their hands each month.Cash flow planning refers to the process of identifying the major expenditures in future (both short-term and long-term) and making planned investments so that the required amount is accumulated within the required time frame. Cash flow planning is the first thing that should be done prior to starting an investment exercise, because only then will you be in a position to know how your finances look like, and what is it that you can invest without causing a strain on yourself. It will also enable you to understand if a particular investment matches with your flow requirement| | | 3. Retirement planning  Ã¢â‚¬â€œ Reti rement planning means making sure you will have enough money to live on after retiring from work. Retirement should be the best period of your life, when you can literally sit back and relax or enjoy your life by reaping benefits of what you earn in so many years of hard work. But it is easier said than done. To achieve a hassle-free retired life, you need to make prudent investment decisions during your working life, thus putting your hard-earned money to work for you in future. Planning for retirement is as important as planning your career and marriage.Life takes its own course and from the poorest to the wealthiest, no one gets spared. We get older every day, without realizing. However, we assume that old age is never going to touch us. The future depends to a great extent on the choices you make today. Right decisions with the help of proper financial planning, taken at the right time will assure smile and success at the time of retirement. Retirement Planning acquires added im portance because of the fact that though longevity has increased, the number of working years haven't. |   | 4. Tax planning  Ã¢â‚¬â€œ Tax evasion is illegal but tax minimization is legal. Thus you can reduce your tax liability by planning effectively. With proper tax planning you can increase your after tax income. |   | 5. | Children future planning- It is essential to plan for the future of your children. The purpose of Children's Future Planning is to create a corpus for foreseeable expenditures such as those on higher education and wedding and to provide for an adequate security cover during their growing years. Savings alone is no longer enough.For ensuring adequate funding of your child's education, you as a parent need to invest appropriate amount systematically and at regular intervals to provide for a financial security to cover any casualties. |   | 6. | Insurance planning  -Insurance Planning is concerned with ensuring adequate coverage against insurable risks. Calculating the right level of risk cover require considerable expertise. Proper Insurance Planning can help you look at the possibility of getting a wider coverage for the same amount of premium or the same level of coverage for the same amount of premium or the same level of coverage for a reduced premium.Insurance, simply put, is the cover for the risks that we run during our lives. Insurance enables you to live your lives to the fullest, without worrying about the financial impact of events that could hamper it. In other words, insurance protects you from the contingencies. So insurance planning is very important. |   | 7. | Estate planning- Every individual acquires a considerable amount of estate during his lifetime which after his death or during his lifetime is transferred to either his heirs or to institutions or to charities.Planning this transfer in the most efficient way is termed as Estate planning. | Who requires financial planning and how is it different from wealt h management Almost everyone requires  financial planning. As the old adage goes-If one is failing to plan, they are surely planning to fail. Good and thoughtful  investment planning  is the cornerstone of an individual's good financial health. Although similar fundamentally, Financial planning defers as compared with wealth management.Wealth management though similar to  financial planning  is dissimilar in the sense that To do wealth management a considerable amount of wealth is required. Financial planning on the other hand is required by everybody as it deals with planning related to achieve financial goals in the most effective manner. It is wise to seek expert advice from professionals such as a financial planning expert because in the attempt to save on the fees, you could end up with poor financial information and decisions that can prove disastrous for family funds.In the case of the working individual, insufficient or random saving for retirement can lead to a re duced lifestyle later, while in the case of the businessman, poorly managed tax preparation could culminate in unexpected tax debt and a loss of carefully accumulated wealth. Most popular Investment Avenues in India 1. Public Provident Fund 2. Life Insurance Policy 3. Housing Property 4. National Saving Certificate 5. Gold& Precious stones 6. Equity 7. Fixed Deposit 8. Mutual Fund 9. Systematic Investment Plan 10. Exchange Traded funds Source : Economic Times. Objective: 1.Spread awareness about personal financial planning among individuals. 2. To know the degree of financial planning awareness and its implementation by individual. 3. To know the most popular investment instrument among individuals Conceptual framework Financial Planning is all about preparing a sequence of action steps to achieve a specific financial goal. A financial plan is a roadmap to achieve your life's financial goals. It is like a map, where you can always see how much you have progressed towards your projec ted financial goal and how far you are from your destination.Financial planning is a process consisting of the following activities- | * Assessing present assets and resources to understand the current situation| | * Setting objectives- Both in terms of returns and risks | | * Determining constraints and financial planning areas like Taxes, Legalities, time horizon, liquidity, unique circumstances | | * Determining appropriate plan and strategy to achieve financial goals. | | * Evaluating the plan in a timely manner. | | * Adjusting and modifying the plan if change in conditions. | Review of LiteratureElaine King, discussed that you should identify your senior parent’s core values and priorities (i. e. financial lifestyle and potential health care costs) and proactively plan to integrate them seamlessly into your multigenerational family’s financial objectives. He also discussed know who your aging parent’s physicians, financial planners, and legal and tax profe ssionals are, and become well-versed in the advice and information your parents are receiving. Who should make financial, legal, and medical decisions for your elderly parents, if they are no longer capable of handling their own affairs?Tim Sobolewski, CFP ® said that Choosing a financial planner is as important as choosing a doctor or lawyer; it's a very personal relationship. In addition to competency, a financial planner should have integrity, trust and a commitment to ethical behavior and high professional standards. You want a planner who puts your needs and interests first. Jessie Foster, Lincoln Financial Advisors, Where does the Money Go? Said that many people would rather do anything else than attempt to understand or set a budget for themselves and their families. The standard advice from most inancial planners when it comes to budgeting is to â€Å"spend less and save more†. But for most families this is easier said than done, no matter what their income level. A nd exactly what do we mean by â€Å"spend less†, less on what? Most people do not even know where their money goes never mind where to cut back Doug Lennick provides a simple and clear four-step method, known as the 4Rs, for making wise financial and life decisions based on your core values. When you find yourself in a highly charged event, such as the Dow Jones plummeting, rash decisions often follow-like selling out your entire stock portfolio at record lows!Madhu Sinha has explained Financial Planning is meant for lay investors, financial planners and students pursuing courses on financial planning. It simplifies financial mathematics to enable an investor map financial goals that she would like to achieve. The book includes solved problems on retirement planning and over 350 questions and answers on time value of money. Besides theses, it dwells on mutual funds and other investment products that are currently available. The book also discusses the process of constructing and revising a financial plan on the basis of an investor's financial goals.STEPHEN’S states some things that financial planning consist of is investments, insurance, credit cards, scholarships, tuition, and housing. Investments are basically a method of putting money away in the expectation that it will grow into a larger amount. Insurance is a form risk management used to negate the risk of loss in which the provider covers the monetary loss of an object in the case of an event in exchange for a premium paid by the customer. Research MethodologyThe main investigation of the study is to identify the degree of awareness about financial planning and how many people are actually doing financial planning for achieving their financial goals. The study covers both primary and secondary data . Primary data is collected by distributing questionnaire to the individuals ; secondary data collected from various journals, articles, websites This is an empirical study based on survey meth od. The techniques of questionnaires, discussion, interviews and observations were followed to obtain the required information.All the selected individuals were given the questionnaire to get the information their financial standings. A questionnaire containing a set of 18 questions have been distributed among the individuals who are working with the IT firms in Pune. The study is conducted within the Pune specifically in and around Hinjewadi area. The respondents were particularly in the age group of 30-4o years and are higher middle class people. Hypothesis 1. Individual is aware about personal financial planning and is implementing the same. 2.Life Insurance plans are most popular among the investors. 3. Fixed Deposits are most popular among the investors. 4. Wills are current of Individuals 5. Individuals take professional help for their financial planning. Findings: 1) All the 50 respondents were in the age group of 30-40years which falls in accumulation stage and needs strong financial planning. Among them 70% of them wanted to retire in 15 years and 27% wanted to retire in 20 years and only 3% wanted to retire after 20 years. 2) Majority of the respondents i. e. 0% of them didn’t knew how much they would require at the time of retirement and only 10% of them had a exact calculation of how much they would require. 3) 5% of the respondents are taking professional help for their financial planning. 4) Almost everyone was aware about all the avenues available in the market. But only 60% of the people are investing only in Real estate, gold, Life insurance and Fixed deposits. 5) Most popular investment options among the investors are as follows most popular follow by least popular from top to bottom: a. Real estate . Public Provident Fund c. Life insurance d. Fixed Deposit e. National Saving Certificate f. Gold g. Mutual fund h. Equity i. Systematic investment plan j. Exchange traded funds 6) 95% of the respondents have not done a will and 100% of the m have a home loan with home loan insurance as it is mandatory by the housing loan providing banks. 7) 60% of the people have an additional insurance cover over and above the cover provided by its employers. All these 60% i. e. 30 respondents have a term plan. 8) None of the individual interviewed had made their Will.Conclusion Awareness of available financial products is high in the target population. However, a number of factors — including a series of high-profile scams, detrimental practices of advisors with a short-term view and the lack of a strong investor protection environment — have contributed to investor insecurity. This is the primary reason why the targeted respondents are taking a myopic view towards investments, largely discarding the option of long-term investments and personal retirement planning unless offered as an additional tax savings instrument.The most popular investment avenue is real estate among the respondents especially a residential house , as it gives a huge capital appreciation and also a considerable rental income, in additional there is limited risk associated to it. Barring few bad years, property prices in India have been moving upwards. Moreover, loan taken on a residential property has a tax deduction. And the second most popular investment avenue is PPF as it is mandatory to have PPF account and employer’s contribution too. Scope of the Study for Further Study 1. Subject matter is related to the investor’s approach towards various investment objectives. . People of age between 30-40 (accumulation stage) 3. Whole Pune Area 4. Demographics include names, age, qualification, occupation, marital status and annual income. Limitations of the Study No study is free from limitations. The limitations of this study can be: * Sample size taken is small and may not be sufficient to predict the results with 100% accuracy. * The result is based on primary and secondary data that has its own limitations. * Th e study only covers the area of Pune that may not be applicable to other areas. Suggestions 1.It is suggested to individual to inculcate the habit of financial planning as soon as one starts earning 2. Every individual interviewed was suggested to look into various investment avenues apart from conservation investment options like PPF, FD, and Residential property. 3. Individuals are suggested to take professional help to set and evaluate the financial goals, this will help them to set goals practically and know the proper way to achieve them 4. Individuals were also guided not to fall prey to financial consultants. They should do their through study before making any investment decision. 5.Individual were suggested to make their will and fill the form for nomination for each investment. Biblography 1. Sreekant V, CFPCM,Managing Partner, Sabarigiri Institute The Third Inevitable:Impact of Inflation on Financial Planning, 2008 2. Akhilesh Tilotia, CFPCM,Director, Director, PARK Finan cial Advisors Pvt. Ltd. Why should you think long term? 2008 3. Elaine King, CFP ®, CDFATM  and Philip Herzberg, CFP ®, AEP ®, MSF  Financial Parenting for Young Adults 4. Elaine King, CFP ®, CDFAâ„ ¢, and Philip Herzberg, CFP ®, MSF Financial Planning for Your Family’s Well-being 2010 5. Tim Sobolewski, CFP ®, How to Choose a Financial Adviser 2011 . Financial Planners Association, Build a Solid Financial Plan! August 2009 7. Jessie Foster, Lincoln Financial Advisors, Where does the Money Go? August 20, 2012 8. Lisa Holton, The Encyclopeidia of Finanicail Plannning FPA Press p24 9. Financial Intelligence: How to Make Smart, Values-Based Decisions with Your Money and Your Life Doug Lennick FPA, p82 10. Madhu Sinha Financial Planning McGrawHill Education 11. Stacie Zoe Berg, The Unofficial Guide to Managing Your Personal Finances, Wiley p210 12. Consumer Panel Research Paper: March 2006 Financial Services Consumer Panel, p36 13.Agshe, Anil, (2009), â€Å"Fi nancial Service, Market ; Regulation† 1st edition, Himalaya Publishing House, Mumbai. 14. 8. Mishkin, Fredric, (2011), â€Å"Financial Market ; Institution†, 6th edition, Pearson Education, New Jersey. 15. Pradian, Punithavathy, (2009), â€Å"Financial Services ; Market†2nd edition, Vikas Publishing House, Noida, India. 16. Raja rajan (1997,1998) high lightened segmentation of investors on the basis of their characteristics, investment size, and the relationship between stage in life cycle of the investors and their investment pattern. References 1. http://www. kotaksecurities. om/university/ 2. http://www. fpanet. org/ToolsResources/ArticlesBooksChecklists/ 3. http://www. fpanet. org/ToolsResources/ArticlesBooksChecklists/Articles/FinancialPlanning/ 4. http://financial-planning. stsd. wikispaces. net/ 5. http://economictimes. indiatimes. com/ 6. http://www. financialexpress. com/ 7. http://wealth. moneycontrol. com/ Annexure A This questionnaire is solely for th e research purpose and personal information will be treated highly confidential. We strictly follow do not disturb policy. If you do not want to disclose any of the personal information that is fully acceptable.Questionnaire 1) Please check the range below which includes your age: under 30 30-39 40-49 2) Which of the following best describes your current employment situation? Please choose one: Full-time Homemaker Part-time Temporary Unemployed Retired Working Student 3) Please indicate which of the following includes your annual personal income, before taxes: Under INR 5,00,000 INR 5 – 12 LAKHS INR 12 – 18 LAKHS Over INR 18 LAKHS 4) In how many years do you plan to retire? I am retired 15 years 20 years More than 20 years 5) Have you planned for retirement YES NO ) Do you know how much you need after retirement per annum? 6 Lakhs 12 Lakhs 18 Lakhs 24 Lakhs 7) Are you saving for retirement? Yes No 8) Which investment instruments are you aware of? Life Insurance Policy Equity MF Real Estate ETF FD Gold; Precious stones NSC SIP MF Real estate 9) In which of the following instruments you invest for retirement? FD Pension Plans LIC Health Insurance Real Estate Precious Metals and Stones Any other (please Specify) 10) Can you give a % wise break up of investments from above investment instruments? Life Insurance policy NSC Equitydebt InstrumentsMF SIP Real estate Real Estate ETF Gold and silver 11) Do you take a professional help for your financial planning? Yes No 12) Have you started investing in children’s education plan? Yes No 13) Have you done the will? No Yes Thinking 14) Do you have a home loan? Yes No 15) Is your home loan insurance covered? Yes No Partly 16) Does your company give you insurance cover? Yes No 17) Do you hold additional personal Life insurance cover apart from what company provides you? YES NO 18) Which insurance do u hold? Term plan   Life Insurance policy ULIP Name : (optional) Organization Name: (optional)