Small and Medium Enterprises free essay sample

Granularity: This refers to a situation where the risk grading system at banks does not have the requisite capability to discriminate between good and bad risks. The consequence is tightening of Y. Srinivas (The author is Manager, Compliance Group at ICICI Bank. He can be reached at srinivas. [emailprotected] com) Small and Medium Enterprises (SMEs) play a very significant role in the economy in terms of balanced and sustainable growth, employment generation, development of entrepreneurial skills and contribution to export earnings.However, despite their importance to the economy, most SMEs are not able to stand up to the challenges of globalisation, mainly because of difficulties in the area of financing. With the opening up of the Indian economy, it has become necessary to consider measures for smoothening the flow of credit to this sector. The article provides a crosscountry perspective in this regard and highlights the Indian scenario with reference to SME lending. We will write a custom essay sample on Small and Medium Enterprises or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page rs or managers know more about the prospects for, and risks facing their business than their lenders) exists, lenders may respond by increasing lending margins to levels in excess of that which the inherent risks would require. However, the sheer ticket size of SME lending makes it inviable for banks to invest in development of information systems about SME borrowers. In such situations, banks may also curtail the extent of lending even when SMEs are willing to pay a fair riskadjusted cost of capital. The credit terms, or an increase in prices, or both.From the borrower’s perspective, this leads to an outcome where the bank is over-pricing good risks and under-pricing bad risks. The fact that most banks in India have not developed adequate expertise in SME lending risk assessment exercises leads to the problem of granularity when it comes to SME lending. (c) Pecking Order Theory: Pecking order theory ? ows from the above two issues, which makes SME lending highly dif? cult fo r banks. Un- der this hypothesis, SMEs, which face a cost of lending that is above the true risk-adjusted cost, will have incentives to seek out alternative sources of funding.Evidence suggests that in such situations SMEs prefer to utilise retained earnings instead of raising loans from banks. (d) Moral Hazard: Even when loans are made to SMEs, it may so happen that the owners of these SMEs take higher risks than they otherwise would without lending support from the banks. One reason for this situation is that the owner of the ? rm bene? ts fully from any additional returns but does not suffer disproportionately if the ? rm is liquidated. This is referred to as the moral hazard problem, which can be viewed as creating a situation of over-investment.The moral hazard problem may, thus, result in SME lending turning bad in a short period of time, a situation that all banks would like to avoid. (e) Switching Costs: SMEs may ? nd it harder to switch banks, when countered with any issue. It is a known fact that the smaller the business, the more signi? cant the switching costs are likely to be and, therefore, it is less likely that the bene? ts of switching outweigh the costs involved. This situation results in SME lending becoming a sellers market, which may not be attractive to SME borrowers. Steps for Smooth SME Lending In order to ensure that the 36 The Chartered Accountant September 2005 above issues do not stand between SMEs and Bank Finance, the following steps could be taken as remedial measures: Collateral: Existence of collateral that can be offered to banks by SMEs could be one effective way of mitigating risk. Banks could, therefore, look at collateral when pursuing the question of SME lending. It can also be stated that a borrower’s willingness to accept a collateralised loan contract offering lower interest (relative to unsecured loans) will be inversely related to its default risk. However, not all SMEs would be able to offer collateral to bank s.Hence, Reserve Bank of India (RBI) allows banks, with a good track record and ? nancial position on SSI units, to dispense with collateral requirements for loans up to Rs. 25 lakhs. (a) Relationships: The length of the relationship between a bank and its SME customers is also an important factor in reducing information asymmetry, as an established relationship helps to create economies of scale in information production. A relationship between a SME and a bank of considerable duration allows the bank to build up a good picture of the SME, the industry within which it operates and the calibre of the people running the business.

Why We Can’t Wait an Example by

Why We Can’t Wait Introduction In the early 1960s, the United States was a land of opportunity for the white majority and deprivation and discrimination for the African-American minority. Led by Martin Luther King, the Civil Rights movement at this time reached its apex, as evidenced by Kings pivotal book Why We Cant Wait, a combination social commentary and call to action. This research will focus on several facets of Kings philosophy and this highly influential book itself. Need essay sample on "Why We Cant Wait" topic? We will write a custom essay sample specifically for you Proceed University Students Very Often Tell EssayLab professionals: Who wants to write assignment for me? Essay writers advise: Essay Help Provided Here With Beneficial Facilities! Original Essays For Sale Write A Paper Essay Writing Service Write My Essay Online Reviews How the Author Develops and Supports the Arguments Made in the Works Title The title of Kings book, Why We Cant Wait, in fact is presented within the book as both an argument and a call to action. King develops and supports these assertions through the citation of several pivotal events in the Civil Rights movement which not only showed that progress was being made, but also that there was much more work to be done. Chief among these are the passage of significant Civil Rights legislation by President John F. Kennedy as well as the massive success of a march on the national capitol of Washington DC, led by King and attended by hundreds of thousands of African-Americans in search of equality in a nation which up to that point did little to accept minorities as equals (King, 1965). Why Society So Violently Resisted the Civil Rights Movement Society as a whole was so violently against the Civil Rights movement for a variety of reasons. At the core of the opposition was the inherited racism and prejudice that was predominant in many American communities at the time when Martin Luther Kings crusade was at its strongest. Additionally, for the white majority, the uprising of a new class of people who would demand equal access to the assets of society- good paying jobs, social programs, equal housing as a few quick examples-seemed to threaten the monopoly that whites held on all of the best that society had to offer. Therefore, a combination of hatred and greed led to violent opposition in this case. Remedies Proposed by King In Why We Cant Wait, Martin Luther King did not advocate a violent overthrow of the white majority, as many falsely believe and claim; rather, he proposed a sweeping system of reimbursement for African-Americans due to the discrimination and harm that they suffered for centuries before Kings movement, as well as a system of comprehensive government programs to help African-Americans to gain the economic viability, social equality, and advancement opportunity that the majority had received in America since the days when the colonies were established on the North American continent (King, 1965). The idea of non-violence needs to be discussed in more detail, as it forms the backbone of Why We Cant Wait. King speaks at length in the book about not taking the quick path of violence against the majority as a source of cheap revenge, but rather to use an intelligent, civilized system of organized protest to make valid points. One of the tools which King was a master at using was the organized boycott; for example, boycotts of the Birmingham, Alabama bus system on the part of African-Americans quickly led to the relaxation of segregated seating on those buses, which in itself represented a huge milestone for the Civil Rights movement. Conclusion: How Far Have We Actually Come? On January 20, 2009, a huge milestone in the Civil Rights movement, and the fruition of the dreams for which Martin Luther King gave his life was realized when the United States of America inaugurated Barack Obama, the nations first African-American president. While this is truly a momentous milestone for the quest for equality, the question remains as to exactly how far the Civil Rights movement has come as a whole in the decades since Martin Luther King wrote, spoke and advocated for the cause of equality. In the present day, even in light of an African-American holding what many consider to be the most powerful position in the world, America is still a land where ones racial/financial standing dictates how they are treated in regard to education, access to social programs, employment and more. The proof of this is proliferation of degraded urban areas where minorities are forced to live and go to school, as well as the lack of employment opportunities in those communities. Moreover, the typical minority neighborhood, in addition to the blight and poverty, is infested with the deadly combination of crime and violence, fueled in large part to the purchase and sale of illegal drugs. While many would say that it is the responsibility of minorities to pull themselves up by their own proverbial boot straps, the blind eye of the government, law enforcement and corporate America makes it very difficult for this to take place. Therefore, in conclusion, what needs to be understood is that the w ork of Martin Luther King needs to continue. Works Cited King, Jr., Martin Luther (1964). Why We Cant Wait. New York: Signet Books

Extended Essay Samples - How to Organize Your Paper

Extended Essay Samples - How to Organize Your PaperAfter having an extended essay on the computer, the first thing you need to do is start writing your essay. The last thing you want to do is start writing a paper and then have to worry about losing it. In order to protect your essay and keep from losing it, it is important that you take the time to learn how to organize your paper correctly.What happens when you're working on an essay on your computer? Basically, there are two things that usually happen. First, you sit down to write. Once you have started to write, you need to know what is coming next so that you don't forget it.Keep in mind that the one who will take care of your essay will be you. You are the one who will take the time to organize the paper. If you're doing this on your own, it is important that you know how to organize the paper correctly.This way, you can organize the notes that come after the original essay and make sure that everything is organized. In order t o do this, it is necessary that you take some time to research about how to arrange essays. As mentioned earlier, one of the best ways to do this is to take a look at extended essay samples.By using these papers, you will know exactly how to organize your essay. It's much easier to organize a paper if you already know how. Once you know how to organize a paper, you can even make your work more efficient.Another thing that you need to remember is that your essay has no set format. This means that you shouldn't be concerned about having to follow a certain format. This is because you should be able to take your time in order to write your essay.When you have everything organized in the right place, it will be much easier for you to write your essay. Most of the time, it will be much easier for you to write a paper if you have your essay organized the way that you want it to be. Aside from that, this will also make it easier for you to get feedback and make corrections. This way, you w ill be able to figure out where your errors lie and fix them without any difficulty.There are a lot of things that you should remember in order to make your essay organized. The key to being organized is just to know how to organize your paper. With this information, you'll be able to make your essay one of the best essays that you have ever written.

How to Test for Coordinate and Noncoordinate Adjectives

How to Test for Coordinate and Noncoordinate Adjectives How to Test for Coordinate and Noncoordinate Adjectives How to Test for Coordinate and Noncoordinate Adjectives By Mark Nichol One of the ways adjectives can be categorized is to determine whether they are coordinate or noncoordinate adjectives. This distinction is important, because it dictates whether two or more consecutive adjectives are separated by punctuation. For many writers, however, deciding which category an adjective belongs to can be a challenge. Fortunately, two simple tests are available to help writers know how to treat strings of adjectives. First, if two or more adjectives are separated by commas, can and substitute for each comma? Because each of the three adjectives in the sentence â€Å"The pale, gaunt, sepulchral figure seemed to float above the floor† independently describe the figure, the sentence can be revised to read â€Å"The pale and gaunt and sepulchral figure seemed to float above the floor.† And though English observes a natural sequence of types of descriptive words called the royal order of adjectives, these words are all visually descriptive, so the sequence can be reversed without affecting comprehension: â€Å"The sepulchral, gaunt, and pale figure seemed to float above the floor.† These adjectives are coordinate, and they should be separated by commas. However, in the sentence â€Å"Her thin green cashmere sweater did little to keep her from shivering,† each adjective builds on the next: â€Å"cashmere sweater,† â€Å"green cashmere sweater,† â€Å"thin green cashmere sweater.† In addition, one would not write, â€Å"Her cashmere green thin sweater did little to keep her from shivering,† because that sequence violates the royal order of adjectives. Therefore, the adjectives are noncoordinate, and no punctuation should intervene. Use these tests to determine which of the following sentences include coordinate adjectives and which contain noncoordinate adjectives: 1. The object is a small, platinum and iridium cylinder weighing exactly one kilogram. Small describes the nature of a cylinder made of platinum and iridium, so that word is not equivalent to the other adjectives, nor would the sentence be written, â€Å"The object is a platinum and iridium small cylinder weighing exactly one kilogram†: â€Å"The object is a small platinum and iridium cylinder weighing exactly one kilogram.† 2. Uber has been dogged by controversy on the road to becoming one of the most valuable, privately funded companies in the world. The modifiers â€Å"valuable† and â€Å"privately funded† are not equivalent- one would not write that the company is â€Å"valuable and privately funded† or that it is â€Å"privately funded and valuable.† A privately funded company is being described as one of the most valuable such companies in the world, so no punctuation should intervene between the adjective valuable and the descriptive phrase â€Å"privately funded companies†: â€Å"Uber has been dogged by controversy on the road to becoming one of the most valuable privately funded companies in the world.† 3. The battered, clanking, smoking vehicle lumbered along the road. The three adjectives preceding vehicle are all sensory and are thus coordinate, so punctuation is correctly employed in this sentence: â€Å"The battered, clanking, smoking vehicle lumbered along the road.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:How to Punctuate References to Dates and Times"Have" vs "Having" in Certain ExpressionsWhat’s the Best Way to Refer to a Romantic Partner?

Gender Portrayal and Prime Time Comedy Essay Example | Topics and Well Written Essays - 750 words

Gender Portrayal and Prime Time Comedy - Essay Example The proposed portrayal, therefore, was intended to be a young, highly educated attorney whom happened to be female. The cast, however, was broad in terms of characterization and included a number of clearly developed male and female characters. The majority of these characters were attorneys at Ally's law firm. Superficially, at least, the stage appears set for a comedy devoid of gender stereotypes. Ally is a successful attorney and her best friend is a man. She wears pants and is financially independent. A careful examination of the scripts, however, reveals that gender stereotypes remain pervasive even in a prime time television program purporting to be offering a stereotype-free program. I don't believe in equal parenting, and if we have kids I expect you to quit work and while I certainly don't think of you only as a sexual object, I do think of you as someone who should fulfill my sexual needs, and if you put on a hundred pounds, I'd have a big problem there too." (quoted in Lemaster: 2) The gender portrayal is hardly subtle; to be sure, it is a direct statement by a main character to the effect that men should work and women should take care of the home after having children. Billy doesn't believe in equality, he characterizes his girlfriend's duties as including the satisfaction of his sexual needs, and he warns her against gaining weight. So many stereotypes are packed into this simple portion of the television script. The woman must take care of the home, she must be available to satisfy the male's sexual needs, and she must place her appearance at a high level or she will risk losing the man. One can hardly conceive of dialogue which so directly contradicts the aforementioned goal of presenting a modern comedy devoid of stereotypes. The women seem to indulge the men rather than becoming offended or angry; to be sure, when confronted with actions and comments that would most certainly trigger sexual harassment lawsuits in the real world, these female characters instead merely play along. This playing along with the male characters seems to reinforce the stereotypes rather than challenging them or breaking them down. An illustrative portion of dialogue, from Episode 3, involves two of Ally's female colleagues interviewing a male applicant for an entry-level position: Renee: "Would you mind removing you shirt" Male interviewee: "I beg your pardon" Renee: "I just want to see your chest, and your stomach." Male interviewee: "Is that legal" Whipper: "It's illegal to require it, and of course we couldn't do that. Now, basically, the business of law is all about getting clients, now we plan to use our sensuality to do that. Renee and I will provide a little eye candy for the men." Renne: "It would be rude not to have something for the women." Whipper: "Absolutely." (quoted in Lemaster: 4). This dialogue is ironic; it is ironic because the women are at the same time mocking the behavior of their male colleagues and them justifying the use of their sexuality to gain clients. There is no anger or resentment. They may express their views more subtly than did Billy previously, but they see

Study Guide Coursework Example | Topics and Well Written Essays - 250 words

Study Guide - Coursework Example His music was mainly politically focused thus being referred to as King of Blues. I agree with Peter Wald, that Josh White had become a leading top blind blue singer in the 1920s, and the first young man to stir a competition in the race record market (Wald 75). During the period of 1920, Josh White was considered the most popular blue stars and could not even be compared to Robert Johnson. Later on in 1930s, he discovered the notorious New York public which occasionally appeared alongside his jazz band making it become popular in the folk world as many of his counterparts referred to him as Mr. Folk. Amidst, all these Josh White struggled to maintain a balance that will keep his career afloat by making a declaration that his main purpose was to unite the communist. In conclusion, Josh White’s outspoken stance on civil rights issues were greatly manifested during the folk revival. This accorded him the opportunity to be renowned as the most popular folksinger enabling him performs in such events like the Martin Luther King’s promotion at glory (Wald

Zakaria Reading Essay Example | Topics and Well Written Essays - 500 words

Zakaria Reading - Essay Example From the discussion it is clear that  the government purports that the economy is improving, it is evident that the US economy is rapidly losing the preeminent position it held for the last decades. By taking into consideration nearly all measures of economic and financial wellbeing, it is evident that the US economy is rapidly declining comparable to other economies such as China. Although the international community still regards the US as a country holding a preeminent position in terms of economic and political factors, an in-depth examination of the country’s economic situation provides a contrary view.This paper discusses that  the US economy is muddled by great debt, which is adversely impacting its economic situation. Comparable to China, the US has massive quantities of public debt. As a percentage of its GDP, the US has public debt of 73.0% and gross government debt as a percentile of its GDP stands at 102.94%. Both of these figures are extremely high for a count ry deemed to be the most economically successful country in the world. The figures essentially speak to the country’s detrimental political processes and administrative decision making, which plunge the country into greater and greater debt over time.  As part of the US government’s ploy to revamp the country’s financial and economic position, the government instituted massive bailout strategies.