Rhetorical Analysis: Proclamation of Rebellion

Proclamation of Rebellion On August 23rd of 1775, King George III issued A Proclamation for Suppressing Rebellion and Sedition after hearing news of the Battle of Bunker Hill. The document declared that the colonies were in an open state of rebellion and requested that all subjects of Great Britain report â€Å"traitorous correspondence† by anyone who may be involved so they could be punished. King George’s proclamation acted as an antithesis and undermined his remaining colonial moderate support.The purpose of the proclamation was obvious: King George III wanted to thwart the colonial rebellion by coercing them by means of intimidation, which is a form of an ethos appeal. However, the timing of the issuance of the proclamation and its diction reveal a seemingly desperate King George. King George III opened the proclamation with the use of a self-sealing conspiracy argument against the leaders of the rebellion when he referred to them as â€Å"ill designing. † He tried to create an outlet for the average colonial subject by calling them â€Å"misled. This also played into the conspiracy argument by making those same subjects doubt the American leadership they had followed up to that point. It seems as though he called the colonists to rethink their position by portraying Great Britain as their protector and guardian while labeling the colonial leadership as avaricious conspirators. These claims that Britain was still an excellent father figure to whom the colonists owed respect and deference were arguments of principle.However, it was clear that many colonists found incidences such as The Boston Massacre and The Battle of Bunker Hill indicated otherwise. Not only did The Battle of Bunker Hill display that Great Britain was not the colonist’s protector, but also that the British could be beaten. This loss painted a much weaker picture of King George. The proclamation was released just before King George would decline to receive the c olonists’ Olive Branch Petition.By declining to receive the petition, it was assumed that the King’s proclamation was his response. With that in mind, the remaining colonial moderates retained little hope that Great Britain and the colonies would remain united. King George’s proclamation labeled the leaders of the colonial resistance â€Å"dangerous and ill designing men† and listed the ways they had violated royal law. He also posited all the ways the Empire had correctly administered governance and rule over the colonies.It said that those who aided Britain in finding conspirators would be protected for their â€Å"loyalty and zeal† and that ignorance was not an option. Up to this point, ignorance of the relations between the colonies and Britain was the path chosen by many moderates who hoped reconciliation would be made. In his proclamation King George identified these moderates as well as Tory supporters and attempted to pit them against the à ¢â‚¬Å"conspirators. † This rhetorical act on the part of King George III and the British was an utter failure at achieving its intended goal.By that point, the relationship between the two parties had been violent for quite some time and colonial confidence in the King by his shrinking supporting minority was waning. He used self-boasting ethos appeals to the colonists (many of whom had already come to the conclusion that they didn’t like him) and hoped that they would essentially turn themselves in and give up. The worst part about the entire proclamation was that it completely crushed moderates who supported the idea that independence wasn’t the answer.

F and B Manager

Unit 6: Food and Drinks Service Unit code: L/601/0463 QCF Level 3: BTEC National Credit value: 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to enable learners to gain understanding of the importance of the meal experience in food and drink service operations and skills to prepare, provide and review provision of food and drink service. Unit introduction This unit introduces learners to basic concepts of food service and to the skills, knowledge and responsibilities required in food service throughout the sector.The knowledge and skills acquired in this unit will prepare learners for a supervisory role in food service businesses. This unit includes only non-alcoholic drinks. Alcoholic drinks are covered in Unit 7: Alcoholic Beverage Service. Learners will explore the factors involved in the meal experience and will have the opportunity to relate issues concerning value, quality, skill levels, satisfaction, service and environment to customer expectations in a v ariety of operations. Learners will need to organise the preparation and layout of a food service operation, taking into account various factors such as equipment, staff rganisation and particular customer needs. Learners will need to show a professional approach and practical customer service and food service skills. Throughout the unit learners will have the opportunity to develop the skills appropriate to a range of different businesses, such as restaurants, fast food businesses, pub food courts and coffee bars. It is important for learners to appreciate factors essential to customer satisfaction and the result of these needs not being fully met. Learners will need to understand and apply evaluation techniques to food service operations. Learning outcomesOn completion of this unit a learner should: 1 Understand the importance of the meal experience in food and drink service operations 2 Be able to organise the preparation and layout of a food and drink service operation 3 Be able to provide food and drink service and customer service in a professional, safe and hygienic manner 4 Be able to review food and drink service provision. Edexcel BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 2010  © Edexcel Limited 2010 1 Unit content 1 Understand the importance of the meal experience in food and drink service operationsMeal experience: value for money; quality of product and service; environment; ambience; suitability for purpose; level of customer service; timing Situations: eating for pleasure or necessity eg business lunch, special occasion, meal with friends, wedding celebration, conference, function, during a shopping trip, in hospital, when travelling 2 Be able to organise the preparation and layout of a food and drink service operation Operation: types eg restaurant, pub, banquet, fast food, food court, coffee bar, transport providers (rail, air, sea)Preparation and layout: health and safety considerations; checking cleanliness of environment; checking furnishings and equipment; obtaining and preparing equipment; determining layout of environment, the reception, bar area, tables and eating area; menu requirements; staff organisation; briefing; customer needs eg wheelchair access, children; contingency planning 3 Be able to provide food and drink service and customer service in a professional, safe and hygienic mannerRequirements: product knowledge; technical skills; appropriate procedures for operation eg welcoming customer, taking order, confirming choice, serving food and beverages using appropriate method, ensuring payment Food service: methods eg silver service, plate service, buffet, self-service, assisted service, room service, counter service; suitability of method for different operations; constraints eg cost-effectiveness, customer demand, timescale, staff skills, environment, layout Drink service: non-alcoholic eg soft drinks, bottled waters, teas, coffees; service procedures and tec hniques; cleaning and maintaining equipment eg uice dispensers, coffee machines; trends eg designer waters, healthy drinking options Customer service situations: communication method (face-to-face, on the telephone, in writing, by email); purpose eg providing information, giving advice, keeping records, providing assistance, dealing with problems, handling complaints, dealing with food allergies Professional approach: attitude; personal appearance; dress; hygiene; attentiveness; body language; attention to detail; relationships with colleagues; communication skills eg listening, speaking, relaying messages and orders accurately and promptly; teamwork; codes of practice Be able to review food and drink service provision Techniques: collecting information; sources of information eg customers, colleagues; feedback methods (qualitative, quantitative) eg questionnaires, comments books, staff meetings; making reasoned judgements based on available information Criteria: suitability of food and drink service provided; environment, preparation and layout; service provided (quality, speed); level of customer satisfaction; value for money 2 Edexcel BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 2010  © Edexcel Limited 2010 Assessment and grading criteriaIn order to pass this unit, the evidence that the learner presents for assessment needs to demonstrate that they can meet all the learning outcomes for the unit. The assessment criteria for a pass grade describe the level of achievement required to pass this unit. Assessment and grading criteria To achieve a pass grade the evidence must show that the learner is able to: To achieve a merit grade the evidence must show that, in addition to the pass criteria, the learner is able to: P1 explain the importance of the M1 meal experience in food and drink service situations [IE 4] P2 organise the preparation and ayout of a food and drink service operation [SM 1, 2, 3, 4, 5, 7] P3 demonst rate competent skills M2 show independence and in providing food and drink confidence in providing food service with appropriate tutor and drink service support P4 show a professional attitude at all times with relevant personal, social, technical and customer service skills [SM 1, 2, 3, 4, 5, 7] P5 review food and drink service M3 evaluate a food and drink provision. service operation and make [IE 6] recommendations for improvement using agreed criteria and relevant data. To achieve a distinction grade the evidence must show that, n addition to the pass and merit criteria, the learner is able to: analyse the suitability of different methods of service, operational procedures and levels of customer service in food service operations D1 show high levels of confidence, product knowledge and skills when providing food and drink service D2 assess a food and drink service operation, making justified recommendations for improvement, and produce an action plan for implementation. PLTS: Thi s summary references where applicable, in the square brackets, the elements of the personal, learning and thinking skills applicable in the pass criteria.It identifies opportunities for learners to demonstrate effective application of the referenced elements of the skills. IE – independent enquirers RL – reflective learners SM – self-managers CT – creative thinkers Key TW – team workers EP – effective participators Edexcel BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 2010  © Edexcel Limited 2010 3 Essential guidance for tutors Delivery Professionalism in the hospitality industry is vital to both the success of the hospitality business and to learners’ future careers.Future employers will expect recruits to demonstrate a professional attitude to their work, to themselves, to colleagues and to their employers. Tutors must take great care throughout their work to reinforce the importance of mai ntaining the right professional attitude, in terms of personal, social, technical and customer service skills when working with and communicating with others. It is important that learners are made aware of different types of food and drink service operations and the situations and contexts to which they are suited.While some centres may prefer to concentrate on traditional restaurant operations, the unit is designed to ensure that learners are prepared for employment in a range of food and drink service operations. It should be noted that this unit includes non-alcoholic beverages, and delivery should include the preparation and service of a range of teas, coffees and other non-alcoholic drinks. Tutors should be aware of developing trends in food and drink products and services in the hospitality industry, and should ensure that learners understand both the nature of the trends and their impact on hospitality operations.Much of the delivery will be through practical sessions. These could be supported through work placement prior to assessment to enable learners to develop food and drink service skills. Both practical sessions and work placements should be planned to enable a range of food service situations to be considered and to enable learners to apply their skills to these varied situations. Learners will also need to consider a variety of customer service situations that may arise through food and drink service. They could practise their skills through role plays of simulated scenarios.Learners should develop criteria to evaluate performance relating to each scenario and practise evaluating their own and others’ performance. Recording role plays using video and/or audio cassettes would assist selfevaluation. This unit could be delivered jointly with Unit 7: Alcoholic Beverage Service and could also be delivered alongside Unit 5: Supervisory Skills in the Hospitality Industry, as it offers the opportunity to organise and supervise a team in the del ivery of food and drink service. The application of evaluation techniques and criteria will also make a valuable ontribution to learners’ future role as supervisors in the hospitality industry. 4 Edexcel BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 2010  © Edexcel Limited 2010 Outline learning plan The outline learning plan has been included in this unit as guidance and can be used in conjunction with the programme of suggested assignments. The outline learning plan demonstrates one way in planning the delivery and assessment of this unit. Topic and suggested assignments/activities and/assessmentIntroduction to the unit and the programme of learning. Group discussion about food and drink service operations. Tutor explanation of key terms. Visits to hospitality businesses and observation of food and drink service operations – follow-up poster showing food and drink service operations within the businesses. Learners interview a member of staff from their own institution on the importance of the meal experience in food and drink service operations. Visits to hospitality businesses to find out about different food and drink service situations.Assignment 1 – The Importance of the Meal Experience in Food and Drink Service Operations (P1, M1) Learners produce a presentation about the importance of the meal experience in food and drink service operations based on visit. Group discussion to determine types of operation for different types of hospitality businesses. Videos or role-plays of preparation and layout of a food and drink service operation. Role-play exercises – organising the preparation and layout of a food and drink service operation. Assignment 2 – Organising the Preparation and Layout of a Food and Drink Service Operation (P2)Based on organising the preparation and layout of a food and drink service operation for real customers. Videos or role plays of providing food and drink service. Learners work alongside staff in their own institution providing food and drink service – receive feedback. Role-play exercises – providing food and drink service. Assignment 3 – Providing Food and Drink Service and Customer Service (P3, P4, M2, D1) Based on providing food and drink service to real customers. Learners investigate review techniques and criteria used in a business.Assignment 4 – Review of Food and Drink Service Provision (P5, M3, D2) An investigation of a business or related to a scenario leading to a piece of written work. Tutorial support and feedback. Self-initiated learning time. Edexcel BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 2010  © Edexcel Limited 2010 5 Assessment Any evidence submitted for criteria requiring the practical demonstration of skills, eg role plays or the ability to work independently, must be supported by observation sheet(s) signed by the assessor identifying h ow and why specific criteria have been met.The sub-headings in this section mirror the funnelling opportunities in the grading grid. They suggest how assessment can be grouped to allow learners to progress to the higher grades; however, they are not prescriptive. P1 – M1 To achieve P1, learners must explain the importance of the meal experience, based on their work experience or visits to a variety of businesses. Learners should include a minimum of three different situations in their explanation, covering each of the meal experience criteria.M1 requires learners to analyse in detail at least two different food and drink service operations, focusing on all aspects of the meal experience, operational issues and customer service. P2 For P2, learners need to show they can organise and implement the preparation and layout of the environment before starting the service. Evidence could be gathered through observation by the tutor of team briefings or a written brief together with e vidence of a single practical exercise when the learner has had specific responsibility.P3 – P4 – M2 – D1 To achieve P3, learners need to demonstrate food and drink service skills. This can be evidenced in the form of video tapes or witness testimonies from assessors and supported by written descriptions of the practical scenario. The evidence could, for the most part, come from the same practical situations as for P2. Although learners must show competent skills, at pass level it is expected that they will require guidance and support. Evidence for P4 could be in the form of video or witness testimonies from assessors.The witness testimonies should give sufficient information to confirm that the requirements of achieving a professional approach to personal, social, technical and customer service skills have been met, as have levels of teamwork and communication. The evidence for M2 must show that learners are capable of using initiative and show confidence and independence in food and drink service and customer care skills. Evidence should come from real-life food and drink service situations, and could be linked with Unit 26: Industry-related Project in Hospitality.Learners’ competence in meeting this criterion should be evidenced by an observation sheet with reference made to how and why the learner has achieved M2. To achieve D1, witness testimonies and/or observation sheets should give detailed information to confirm that the learner has demonstrated a high level of personal and technical skills. Examples of effective technical skills at this level could be a learner who is able to anticipate customer needs and can demonstrate customer service to a standard which is over and above that normally expected. 6 Edexcel BTEC Level 3 Nationals specification in Hospitality Issue 1 – February 2010  © Edexcel Limited 2010 P5 – M3 – D2 To achieve P5, learners are required to review food and drink service provision u sing appropriate evaluation techniques and criteria and should provide evidence which shows understanding of the need to measure the performance of a food service operation. The criteria should be specific and measurable. Examples of appropriate criteria could be ‘all tables are to receive orders within 15 minutes’ or ‘the menu should reflect good value for money compared to other similar businesses’. Learners should also explain the benefits of this approach.This can be done in general terms and need not be linked to a specific food service project, although evidence could be linked with Unit 26: Industry-related Project in Hospitality. Evidence for M3 will build on the criteria identified in P5. The criteria used could be predetermined by the assignment brief, but learners should relate the evidence to a specific practical scenario and produce valid recommendations for improvement. Learners should collect data from reliable sources, eg customer comment ca rds and feedback from colleagues, rather than basing the whole review on their own opinion.Evidence for D2 could be in the form of a presentation or a written report. Joint evaluation as part of a team would not be acceptable. Learners must set their own criteria for assessing a food and drink service operation and make recommendations for improvement that are justified and prioritised. The action plan should be realistic and achievable in the context of the chosen food and drink operation. Programme of suggested assignments The table below shows a programme of suggested assignments that cover the pass, merit and distinction criteria in the assessment and grading grid.This is for guidance and it is recommended that centres either write their own assignments or adapt any Edexcel assignments to meet local needs and resources. Criteria covered Assignment title Scenario P1, M1 The Importance of the Meal Experience in Food and Drink Service Operations Learners take the role of Learners c reate a restaurant manager and need to presentation for use with produce a presentation about new staff. the importance of the meal experience in food and drink service operations for use with new staff. P2 Organising the Preparation and Layout of a Food and Drink Service OperationLearners continue in the role Role play or work placement of restaurant manager and supported by observation are required to organise the sheets. preparation and layout of a food and drink service operation. P3, P4, M2, D1 Providing Food and Drink Service and Customer Service Learners continue in the role of restaurant manager and are required to provide food and drink service to real customers. Role play or work placement supported by observation sheets. P5, M3, D2 Review of Food and Drink Service Provision Learners continue in the role of restaurant manager and are asked to review the food and rink service provision. Learners produce material in suitable format – questionnaires, checklists. Edexce l BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 2010  © Edexcel Limited 2010 Assessment method 7 Links to National Occupational Standards, other BTEC units, other BTEC quali? cations and other relevant units and quali? cations This unit forms part of the BTEC Hospitality suite. This unit has particular links with the following unit titles in the Hospitality suite: Level 2 Level 3 Service of Food at Table Alcoholic Beverage Service Service of Alcoholic and Non-Alcoholic DrinksFood Service Organisation Essential resources It is essential for the delivery of this unit that learners have access to a real or simulated food service environment. Appropriate food and drink service equipment must also be provided, such as cappuccino machines, icemakers, blenders and other specialist equipment including glasses and china. Employer engagement and vocational contexts Visits and work experience with local food and drink service providers would provide l earners with an insight into food and drink service and help learners develop the skills required in different businesses providing food service.Developing hospitality industry links would enhance the delivery of this unit. Indicative reading for learners Textbooks Ceserani V and Foskett D – The Theory of Catering, 11th Edition (Hodder Arnold, 2007) ISBN 9780340939260 Hayter R – Food and Drink Service, 2nd Edition (Thomson Learning, 1996) ISBN 9781861526878 Lillicrap D and Cousins J – Food and Beverage Service, 7th Edition (Hodder Arnold, 2006) ISBN 9780340905241 Journal Caterer and Hotelkeeper – Reed Business Information Websites www. bha. org. uk British Hospitality Association www. caterersearch. com Caterersearch – Hospitality news www. catersource. om Catersource – Education, products and news for caterers www. cookeryonline. com Cookeryonline – Food, cookery and hospitality resources www. fdf. org. uk Food and Drink Federation w ww. people1st. co. uk People 1st – Sector Skills Council for Hospitality, Leisure, Travel and Tourism 8 Edexcel BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 2010  © Edexcel Limited 2010 Delivery of personal, learning and thinking skills The table below identifies the opportunities for personal, learning and thinking skills (PLTS) that have been included within the pass assessment criteria of this unit.Skill When learners are †¦ Independent enquirers P1 explaining the importance of the meal experience in food and drink service situations [IE 4] P5 reviewing food and drink service provision [IE 6] Self-managers P2 organising the preparation and layout of a food and drink service operation P3 demonstrating competent skills in providing food and drink service with appropriate tutor support P4 showing a professional attitude at all times with relevant personal, social, technical and customer service skills [SM 1, 2, 3, 4, 5, 7]Altho ugh PLTS are identified within this unit as an inherent part of the assessment criteria, there are further opportunities to develop a range of PLTS through various approaches to teaching and learning. Skill When learners are †¦ Reflective learners assessing their food and drink service provision [RL 1]. Edexcel BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 2010  © Edexcel Limited 2010 9 Functional Skills – Level 2 Skill When learners are †¦ ICT – Use ICT systems Select, interact with and use ICT systems independently for a complex task to meet a ariety of needs Use ICT to effectively plan work and evaluate the effectiveness of the ICT system they have used Manage information storage to enable efficient retrieval Follow and understand the need for safety and security practices Troubleshoot ICT – Find and select information Select and use a variety of sources of information independently for a complex task Acces s, search for, select and use ICTbased information and evaluate its fitness for purpose ICT – Develop, present and communicate information Enter, develop and format information independently to suit its meaning and urpose including: ? text and tables ? images ? numbers ? records Bring together information to suit content and purpose Present information in ways that are fit for purpose and audience Evaluate the selection and use of ICT tools and facilities used to present information Select and use ICT to communicate and exchange information safely, responsibly and effectively including storage of messages and contact lists 10 Edexcel BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 2010  © Edexcel Limited 2010 Skill When learners are †¦ MathematicsUnderstand routine and non-routine problems in a wide range of familiar and unfamiliar contexts and situations Identify the situation or problem and the mathematical methods needed to tac kle it Select and apply a range of skills to find solutions Use appropriate checking procedures and evaluate their effectiveness at each stage organising a food and drink service operation Interpret and communicate solutions to practical problems in familiar and unfamiliar routine contexts and situations Draw conclusions and provide mathematical justifications English Speaking and listening – make a range of ontributions to discussions and make effective presentations in a wide range of contexts discussing the importance of the meal experience presenting an evaluation of a food and drink operation and action plan. Reading – compare, select, read and understand texts and use them to gather information, ideas, arguments and opinions Writing – write documents, including extended writing pieces, communicating information, ideas and opinions, effectively and persuasively Edexcel BTEC Level 3 Nationals specification in Hospitality – Issue 1 – February 20 10  © Edexcel Limited 2010 11

Loan Syndication

LOAN SYNDICATION AS AN ALTERNATIVE BUSINESS FINANCING STRATEGY IN NIGERIA TABLE OF CONTENT Title page Approval page Dedication Acknowledgement Abstract CHAPTER ONE INTRODUCTION 1. Background of the study 2. Statement of the problem 3. Objectives of the study 4. Significance of the study 5. Scope, limitations and delimitations 6. Statement of hypothesis 7. Definition of terms. CHAPTER TWO REVIEW OF RELATED LITERATURE 1. Types and sources of loan to Union Bank of Nigeria Plc. 2. Factors to be considered by Consortium of Financial Institutions before giving out Loans to business Organization. . Factors to be considered by Union Bank of Nigeria before using Loan syndication as a source of finance. 4. Securities and interest rates acceptable to the Union Bank of Nigeria. CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY 1. Sources of data 2. Survey Instrument or Instrument of Data collection. 3. Location of data 4. Research questions. CHAPTER FOUR DATA PRESENTATION AND ANALYSIS 1. Presentatio n of Data 2. Analysis of data 3. Interpretation of Data. CHAPTER FIVE FINDINGS, CONCLUSION AND RECOMMENDATION 1. Findings 2. Recommendation 3. Conclusion Bibliography Appendix PROPOSALLOAN SYNDICATION AS AN ALTERNATIVE BUSINESS FINANCING STRATEGY IN NIGERIA Lack of fund has been one of the major problems militating against the progress and growth of our business organizations in Nigeria. This is caused by a lot of factors such as low savings (vicious circle of poverty), ignorance of the public to invest, mismanagement etc. there are many ways of solving the problems of finance and providing adequate finance to our business organizations such as equity stock, savings, ploughing back profits, but for the purpose of this research, we have to pay attention to loan syndication.This research will focus on the appraisal of the methods and ways through which Union Bank of Nigeria Plc source for fund in form of loan from a group of financial institutions such as commercial banks, merchant ba nks, insurance companies, development banks and financial institution like governments thrift societies friends. It will also focus on the different classes of loan notably, long-term loan, medium term loan, and short term loan.The classes of loan provided by the different types of financial institutions enumerated above will also be considered by Union Bank of Nigeria before using loan as a source of finance instead of other sources. Similarity, it is also pertinent to treat the factors, which are considered by consortium of financial institutions before giving out loans to business organizations. The securities and interest rates treatment acceptable to the consortium will also be look into. Also, the reason why some financial institutions do not go into loan syndication will also be inquired into.Before ending this research, it is important to study how the interest of the constitution is protected in the Union Bank of Nigeria as well as how the interest of each member of the con sortium is protected within the group. These points enumerated above when treated, Union Bank of Nigeria chooses to finance their projects and particularly loan syndication and we feel anybody who enjoys it. Summarily, the research work will be grouped into five chapters. Chapter one will contain the introduction, sub-topics as background of study, statement of problem, objectives of study, significance of study and so on.Chapter two contains the literature review. This chapter will give the detailed analysis of the topic. It is here that we state the meaning of the topic of the research different types of syndicated credit finance, the procedures for syndicating a loan etc. Chapter three will cover the research methodology and techniques. The sources of data, the instrument of data of data collection and the place the data is located. Chapter four, which is the data presentation and analysis will show the presentation of the data collected both in tables and charts, pie chart may a lso be used. Finally, chapter five which summaries the other chapters.The findings recommendations and the conclusion will be contained in this chapter. Having said much, this research study will be specifically limited to Union Bank of Nigeria Plc Onitsha Anambra State. CHAPTER ONE 1. 1 INTRODOUCTION OF THE STUDY The velalive insufficiency of fund for capital investment is a common factor in every economy especially in developing counties of the world. In developing counties like Nigeria; the low level of capital investment manifest in high unemployment rates; low productivity and corresponding low standard of living for greater majority of the population.Finding a solution to this problem of providing fund for capital investment has been a major pre-occupation of financial institutions in Nigeria. Beyond the traditional term loan; share offers; bonds and on; business organizations and financial institutions alike have sought out avenue to tackle the problem of insufficient fund fo r capital investment. One of the solutions they have come up with is syndicated loan or multiple credit facilities , which is aimed at spreading risks and weakening the impact of restricting laws and regulation on lending by financial institutions .Syndicate has been defined as an association of industrialist, or financial or banking consortium forced to carry out some industrial projects. Accordingly, loan syndication is basically defined as an agreement between two or borrower with credit facility utilizing common loan documentation. The spectacular growth of loan syndication as an alternative financial instrument for business organization occurred as response to several economic factors in Nigeria. Notable among these were: – The National industrial policy of 1989, which is aimed at achieving, accelerated pace of industrial growth in Nigeria economy. The Introduction of structural adjustment programmed in 1986, culminating in the establishment of foreign Exchange market (F E M) and depreciation of the aria, This made imported machinery and equipment very expensive and requiring hung capital outlays which most companies or financial institution can not comfortably afford. – Restriction on credit expansion by government and monetary authorities to minimize inflation. Central bank of Nigeria dose not included syndicated loan finance with in the credit checking, banks are there fore, able to syndicate loans with out interfering with the credit ceiling. The scrapping of import license regime which enabled more users of imported equipment and machineries to source and bring into the country. – Deregulation of interest rate made loan syndication attractive to both business organizations and financial institutions. The above factors concerned with the persistent domestic inflation and arising cost of domestic production have increased the magnitude of credits demand by vanoys users of fund particularly the industrial producers.In addition, ther e are certain legal and regulatory limitations on lending activities of commercial and merchant banks such as the statutory lending limit as provided in the banking act of 1969s. 13 (1) , the liquidity requirement ,e t c . In order to surmount these legal and regulatory limitations on lending activities of commercial bank (union bank) and merchant banks, loan syndication has become an attractive credit delivery technique aimed at spreading risks reducing the impact of the restricting laws and regulations.Currently, there exists no comprehensive enacted law on loan syndication in the country as to regulate the activities of the financial institution that lead and participate in the syndication. What is perhaps significant about loan syndication in the country is not the rapid growth of the financial institutions involved loan syndication, but their activities which have been quite remarkable over the years.Also, the study of the extent to which union bank of Nigeria plc employ syndic ated loan as an alternative financing means with particular reference to Anambra and Enugu states respective financing means with loan as an alternatively have been carried out in this study. The researcher carefully appraised all aspects of loan syndication as financing alternative in the country from the point of view of the borrower. It is also made clear in this work that consideration of numerous merits of syndicated loan financing as against its demerits.It is not to be used as a last resort but should be considered alongside with equivalent alternatives. All these notwithstanding the most important of this study (it empirical study) is to know the popularity of syndicated loan financing among business organization in the country and the extent to which they employ it as financing alternative, no such study has been carried out in Nigeria. For the empirical study, Anambra and Enugu State respectively have been chosen due to constraint imposed by cost and short-term on the rese archer, otherwise the researcher could have conducted the survey throughout the country. . STATEMENT OF PROBLEM There are conflicting views as to whether business organizations should be financed by syndicated loan or not. The opposition to the use of this alternative, especially in Nigeria, argues that syndicated loan is expensive and involves much administrative work. Also, there is need to point out in every clear terms the advantages inherent in syndicated loan as medium and long term financing alternative. Besides, a review of the role of financial institutions in financing Nigeria business organization through syndicate loan is of paramount importance.In addition to the above, the extent to which syndicated loan financing is embraced by Union bank of Nigeria Plc. In the country need to be studies to know actually whether the much emphasized syndicated loan financing is being employed as financing alternative in Nigeria. 3. OBJECTIVE OF THE STUDY The purpose of this study inclu des inter-allies; – An examination in general terms of the various issues involved in loan syndication. – To find out whether loan syndication is really a new approach to or another form of borrowing. To synthesize the merits and demerits of syndicated loan-financing vis-a-vis other sources of medium and long-term financing both by cost and codeless. – To survey the extent and prospects of loan syndication business in Nigeria analyzing critically the role of business organizations and financial institutions. – To find out whether loan syndication can help in industrial development of the country, especially under the current economic situation. – To examine the extent of penetration of syndicated loan financing among business organizations in the country. 1. 4SIGNIFICANCE OF THE STUDYThis study will be of crucial benefit to the borrowers. The attention of the researcher was drawn by the need for loan syndication in Nigeria especially in the area of providing the borrower with credit facilities. This becomes obvious that will be a need to grant study that could examine loan syndication as it affects the investment and capital project outlays. Therefore, the significant of this study is to look into ways of making it easy for financing a capital project outlays which requires a syndicated loan, and also to encourage financial firms to jointly finance project which one financial firm cannot single handedly finance.It is hoped that after this study. It will be useful to every bank especially those in merchant banking and development banking. It will also provide information to general public on how to employ loan syndication as alternative business financing. This work is expected to be of immense values to the students in financial studies and other related courses mostly accountancy, banking and finance and so on, since this is part of what they are going to practice in their various place of work.Lastly, it will and government and other institutions to formulate suitable policy that will guide them in financing a big projects jointly with other financing firm. 1. 5SCOPE OF THE STUDY This research work only covers the loan syndication as an alternative business financing strategy in Nigeria. I took a close looks at the needs, functions and various benefit associated with Nigeria loan syndication. LIMITATIONS OF THE STUDY The first limitation, which was obvious, is the dearth of statistical data.Lack of statistical data from our financial institutions like central bank of Nigeria (CBN), ministry of finance, including commercial and merchant banks where the researcher visited at Enugu, Onitsha and Lagos to collect list of corporations they have financed through syndicated loan adhered strictly to the rule of secretly in banking, thus they refused to release such information. Another problem is the time constraint. A research of this nature need relatively long time during which information for accurate infi rmness could be drawn, the period for the study is short , hence time posed as a constraint to the researcher.Lastly, as the cost, the researcher would have extended the survey to other states at the empirical level and this would have produced accurate and more comprehensive work but for the hinge cost of transportation and accommodation in the various state of the federation. It is not possible. 1. 6 STATEMENT OF HYPOTHESIS: Ho syndicated loan has been employed against other alternatives as a medium long term financing strategy. Hi syndicate loan has not been employed against other alternatives as a medium long term financing strategy. Ho does syndicate loan has any impact on our national economy?Hi syndicated loan has much impact in our national economy. Ho syndicated loan has much impact in our national economy. 1. 7 DEFINITION OF TERMS: The research topic has some key words, which call for treatment before anything else. SYNDICATE: It has been defined as an association of indus trialist, or financials or banking consortium forced to carry out come industrial projects. LOAN SYNDICATION: It is defined as an agreement between two or more lending financial institutions to provide a borrower with credit facility utilizing common loan documentation. —–Important Instructions Start here—- PLEASE, print the following instructions and information if you will like to order/buy our complete written material(s). Remember that our approved websites are www. careerslight. com or www. trustyprojects. com and our official phone numbers are 08169533305, 08158646653, 08126773402. Take Note of our websites and phone numbers or write them down. 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Final Essay Example | Topics and Well Written Essays - 1500 words - 8

Final - Essay Example classical and human relation approaches towards management. The production of goods or varying products was undertaken solely by workers before the industrial revolution. It means that it was the task of the worker to bring different pieces and parts of a product himself without the aid of machinery. However, with the passage of time, machines took over some of the tasks of the workers. Herein, it should be noted that the workers were still responsible for most of the tasks but the approach towards production changed to a great extent. Industrial revolution broke down the production process of a good in various steps. The advancement of technological infrastructure resulted in large groups working together to produce increased amounts of goods in a very short span of time (Lumley & Wilkinson, 2013). Throughout the process of development of production of goods, the nature of work and the approaches to get the work done also changed drastically. Researchers and management theorists also undertook a number of experiments to find out the impact that the change in working conditions had on the working conditions of the employees as well as their motivation towards getting the work done. It was this era when a boom within the exploration of management theories and paradigms was observed. The major purpose of the management theory was to suggest or recommend business giants to strategically make their employees work for the interests of stakeholders. It involved the manner in which they organized the employees and their tasks. At this point, two distinctive approaches of management were found out that were later termed as classical management theories and human relation theories. Before critically evaluating the purpose of the two different approaches of management, a light will be sh ed on the term management theory (Gallagher, 2012). As discussed above, organizations need a road map or a guiding model when it comes to managing the

Passage Essay Example | Topics and Well Written Essays - 250 words - 2

Passage - Essay Example in transcending both national and local barriers, which further enable them to enjoy the fruits of both intellectual and material benefits on a global scale. Marx questions the existence of â€Å"the species† or society which is causally active apart from the activities of individuals. This dependence of individuals, under a communist revolution, would transform men so that they would master the same powers which they were governed by, and felt as if it were completely alien to them. The passage elucidates the idea of alienation, and history being in a continuous state of evolution. The alienation of man from himself is quite reflective when it comes to the case of private property, which for Marx was a great obstacle for freedom. Property has historically, in all societies, reinforced the relations of production, where a minority took charge of production and utilized the labor for their own ends in production. The concept of Marx’s revolution and freedom, then, does not mean that on an individual level, but rather emancipating men from this alienation from their true selves through liberation of species as a

Econ reading Assignment Example | Topics and Well Written Essays - 750 words

Econ reading - Assignment Example On the contrary, Fiat money is the one that does not have intrinsic value. Fiat money may be utilized upon government decree. On the other hand, demand deposits are account balances in a bank that depositors may obtain via writing a check upon request. Therefore, demand deposits should be included in the stock money in order to measure the value of money in the stock (Mankiw, 2011). The U.S Federal Reserve System acts as a central bank, it sets monetary policies in an economy. The Federal group is appointed by the president upon senate approval. Fed can increase the amount money in circulation through open market operation, whereby, Fed can make dollars and utilize them to buy bonds this led to an increase the amount of money in circulation (Mankiw, 2011). On the contrary, banks do not hold 100 reserves because they lend some money to earn profits. The relationship between amount of reserves and amount of money in the banking system a rises because banks accepts deposits from the pub lic and lend out some deposits while ensuring proportion bank reserve is maintained (Mankiw, 2011). If bank A has a leverage ratio of 10, while Bank B has a leverage ratio of 20 whereby, similar losses on bank loans at the two banks cause the value of their assets to fall by 7 percent. The above statement indicates that bank B showed a larger change in bank capital than bank A because its capital value declined twice as much as bank A. However, the two banks remained solvent because they can be able to meet their financial obligation. Connectively, discount rate is an interest rate charged by Fed to commercial banks when advancing loans, when Fed raises discount rates, the amount of money in circulation decreases (Mankiw, 2011). Discount rate is the interest rate charged by Fed to commercial bank on borrowed funds, when Fed raises the discount rates, bank reserve decrease this in turn causes the cost of borrowing to increase. This discourages borrowing and consequently reduces the a mount of money in circulation (Mankiw, 2011). . On the other hand, a reserve requirement is the amount of funds that a bank should retain after advancing loans. Whereby, an increase in reserve requirement causes an increase in reserve ratio, this in turn leads to a decrease in money supply. Additionally, Fed can not perfectly control the supply money because it does not have control of the amount of money held in the pockets of households. Secondly, Fed does not have control of the amount of money advanced as loans by the banks (Mankiw, 2011). 2.) Answer Questions for Review #1 in the middle of page 666 The value of money may be affected through increasing price level. This is because the money tends to lose its value this further reduces the purchasing power of money. According to the quantity theory of money, an increase in quantity of money leads to an increase in inflation rates. In above connection, nominal variables are those measured in monetary terms while real variables are those that can be measured in physical terms. According to the principle of monetary neutrality, nominal variables may be affected by changes in quantity of money. Inflation is like a tax in the senses that when government print money, the amount of money held by people losses value due to increase in money supply (Mankiw, 2011). According to Fishers effect, an increase in inflation rate causes real interest to fall. On the hand, nominal interest rate increases. The cost of inflation may involve menu cost that causes the company to adjust its prices such cost of printing new catalogues, advertising to mention just but a few. The most important cost for the U.S economy is inflation cost because an increase the tax burden

Entrepreneurship Essay Example | Topics and Well Written Essays - 1000 words - 2

Entrepreneurship - Essay Example Nevertheless, over the past ten years, healthcare industry has experienced tremendous growth which has promoted and created an environment for entrepreneurship to occur in the industry (Christopher & Kaur, 2011). The entire healthcare field has therefore been affected by entrepreneurship both in positive and negative ways. The level of health care delivered in healthcare organizations have been affected by entrepreneurship in the field. New creative and innovative thoughts have been formulated in the health care industry as a result of entrepreneurial activities. On the other hand freedom of choice plus intellection freedom for both physicians and patients have been greatly hampered with due to entrepreneurship. The main focus of this paper is to describe the manner in which entrepreneurship has affected health care in the organization. It also address the positive and negative ways that entrepreneurship has affected the health care field including an example of a current entrepreneu rial business and how it has affected the way staff do their jobs or the way patients receive services. Ways in which entrepreneurship has affected health care The process of entrepreneurship has greatly affected and influenced the level of health care delivered in healthcare organizations. ... This therefore means that generally, entrepreneurship has positively affected health care field. Entrepreneurial activities have also created networks of access, social relationships and given both patients and physicians good experience in the field (Christopher & Kaur, 2011). A great transformational change in health care industry has been experienced as a result of entrepreneurship. Reduced costs of operation have been experienced in health care industry as a result of entrepreneurship. This is due to new arrivals of entrepreneurs in the field who takes over the market thus creates competition while eliminating inefficiencies such as high costs and poor services (Christopher & Kaur, 2011). Entrepreneurship has made it possible for people to shop for healthcare in the United States and other developed nations across the world. Entrepreneurs have offered consumers with information regarding medical conditions, insurance options and drug information. This information has made it easy for patients across the world to order and arrange for medication in advance. Positive and Negative Ways that Entrepreneurship has affected the health care field Positive Entrepreneurship has created more opportunities in health care rather than exploitation. This is as a result of innovation which has done away with inefficiencies in the field of healthcare. Entrepreneurship has also lead to creation of more opportunities and enabled mobilization of resources (Christopher & Kaur, 2011). Entrepreneurs are people who visualized patterns thus end up creating more opportunities beyond human thoughts. Cultural and behavioral patterns have been created by physicians while investing in them. This has created more opportunities in health care industry that no one