Sunday, May 24, 2020
Short field trips to local businesses can help English learners begin to try out their language skills. However, it is a good idea to make sure that your students are prepared before taking these short field trips. This lesson plan helps provide structure to what can quickly become a rather overwhelming event without specific objectives for the field trip. This lesson is meant for classes which are held in English speaking countries. However, there are also a few ideas in the lesson notes on ways in which the lesson might be changed for short field trips in countries in which English is not the primary language. Aim: Developing speaking skills/practicing interactions with native speakers other than the teacherActivity: Short field trips to local businesses/government offices/other sites of interestLevel: All levels except for absolute beginners Lesson Outline Begin the lesson with a short warm up. Ideally, tell the students about the first time you did some shopping or tried to accomplish some task in a foreign language. Ask some of the students to quickly share their own experiences. Using the board, ask students to describe reasons for some of their difficulties. As a class, look for suggestions on how they might plan ahead to deal with such problems in the future. Inform students of the rough outline of your planned short field trip. If there are issues surrounding permission slips, transportation, etc. discuss these at the end of the lesson rather than at this point in the lesson. Choose a theme for the short field trip. If you are going shopping, students should be gathering information around a specific theme. For example, students might look into purchasing a home theater system. One group could explore the options for TVs, another group options for surround sound, another group blue-ray players, etc. Other tasks for short field trips could include: Gathering information on health insurance optionsTrips to the zooVisiting the local employment officePlanning a meal together by going to the marketVisiting a local gym to find out information on workout possibilities, facilities, etc.Visiting a local tourist information centerGoing to a local event such as a state fair As a class, create a list of the tasks that should be accomplished on the short field trip. Its probably a good idea to have already created a basic list on your own before class to get the ideas flowing. Have students break up into groups of three to four. Ask each group to identify a specific task they would like to accomplish from the list you have developed. Have each group divide their own tasks up into at least four separate components. For example, in the example of a visit to a large retailer in order to buy a home theater system, the group responsible for researching TV options might have three tasks: 1) Which size is best for which living situation 2) Which cables are required 3) Warranty possibilities 4) Payment options After each student has chosen a specific task, have them write out questions they think they should ask. This would be a great opportunity to review various question forms such as direct questions, indirect questions, and question tags. Circulate in the room helping students with their questions. Ask each group to role-play the situation switching roles between salesperson, tourist agency representative, employment officer, etc. (depending on the context) Follow-up In Class Here are some ideas to use as follow-up exercises in class or as homework to help solidify what students have learned on their short field trips: Create short role-plays based on their experiencesDraw up vocabulary trees employing new vocabulary used/studied during their preparations and short field tripAsk other students in smalls group to take their roles while they take the role of the shop assistant, employment agency personnel, etc.Short writing assignments summarizing their experienceGroup reports back to class Variations on Field Trips for Non-English Speaking Countries If you dont live in an English speaking country, here are some variations on short field trips: Have students take short field trips to each others place of business. Students ask each other the appropriate questions.Visit local businesses, but have students role-play shop assistant - customer/employment agency officer - citizen/etc.Take short field trips online. There are many sites that offer real-time chat. Have students take advantage of these sites to gather information.
Sunday, May 17, 2020
In daily life, we must be able to filter out the multitude of distractions which any physical environment can impose upon our senses. By creating a tunneled vision approach to moving about the environments which are a part of our everyday existence, we can more efficiently complete the tasks which are required of us in our various roles in society. In his essay Ã¢â¬Å"On Habit,Ã¢â¬ Alain de Botton, writes that people have become habituated in their own daily lives. In his first section he details himself returning from Barbados to London who discovers the weather isnÃ¢â¬â¢t what he expected. He expected his mood from the weather of Barbados to stay the same in London. De Botton illustrates that people in general are unhappy when it comes to observingÃ¢â¬ ¦show more contentÃ¢â¬ ¦When we limit our focus to everyday experiences we sometimes forget to ask the most basic types of questions. For example, why is this street important for me? Or why did I choose this street? A typica l person would say, Ã¢â¬Å"This street is the fastest way to work. And Ã¢â¬ When you ask them another question; Ã¢â¬Å"what do you like most about this street?Ã¢â¬ They would probably just repeat their answer that the street is the fastest way to work..This shows that human beings only focus on a small aspect of their ordinary experiences, rather than focusing on where they are in the world. In his essay, de Botton argues that people can be oblivious to their surroundings and unwilling to look around them. To have a beneficial social structure we have to look at our surroundings with a broader detail because people will forget why they call home; home. Secondly, attempting to change our mindset we have to reconnect our senses to what we call home base. De Botton explains, Ã¢â¬Å"I tried to disassociate my surroundings from the uses I had found for them until then Ã¢â¬ . This quote implies that a person must remove themselves from the ordinary. They have to look at an ordinary environment as if they are visiting it the first time. Observing an ordinary experience can be quite difficult because you may feel like you know every aspect of it. When a person goes outShow MoreRelatedHabit By Alain De Botton Summary1788 Words Ã |Ã 8 PagesIn Ã¢â¬Å"HabitÃ¢â¬ Alain De Botton, the author mentions different ways one could travel without leaving the comfort of their home. The individual will come across the Ã¢â¬Å"travelerÃ¢â¬â¢s mindsetÃ¢â¬ and see everything in a new light; what was the ordinary will become wonderous and exciting. OneÃ¢â¬â¢s ordinary home will no longer be dull but quite entertaining. Developing the travel erÃ¢â¬â¢s mindset, one will start reversing the process of habituation; seeing the world through the eyes of the new. Ã¢â¬Å"Possible Worlds: Why do ChildrenRead MoreRough Draft Paper 21327 Words Ã |Ã 6 Pages24, 2014 Creative Thinking With A Traveling Mindset In Alain de BottonÃ¢â¬â¢s essay, Ã¢â¬Å"On HabitÃ¢â¬ and Adam Gopnik essay, Ã¢â¬Å"Bumping into Mr. RavioliÃ¢â¬ explain the way that individuals can think creatively and express their feelings and thoughts into newer meaning and in-depth ideas. They also explain the way that the human race are so engaged in technology and busyness that they are overlooking what really is important to them in their life. De Botton is worried that many people do not go beyond limitationsRead MoreCity Dwellers And Organized Time1661 Words Ã |Ã 7 Pagesmodern life and this lifestyle tends to fall into the mundane according to Alain de BottonÃ¢â¬â¢s Ã¢â¬Å"On HabitÃ¢â¬ this jadedness is due to the busyness of the average city dweller. Examples of this can be seen in Adam GopnikÃ¢â¬â¢s Ã¢â¬Å"Bumping into Mr.Ravioli.Ã¢â¬ In Ã¢â¬Å"Bumping into Mr.RavioliÃ¢â¬ the reader is able to see how a few residents of New York City deal with their relationships as they get sucked into the busy ness. In Alain de Botton s Ã¢â¬Å"On HabitÃ¢â¬ he goes over how residence of an area become jaded and bored with theRead MoreEssay on On Habit653 Words Ã |Ã 3 PagesIn On Habit, Alain de Botton writes about how people become habituated and believe there is nothing left to see or learn about the certain location they are in. In this essay, Botton discovers an attitude to approach places we think we already know, and no longer find interest in. This mindset is intended for the environment you are in, but can also be apply to styles of reading and writing. Botton had arrived to London from a trip to Barbados only to realize his home city hadnÃ¢â¬â¢t changed one bitRead MoreHow Proust Can Change Your Life941 Words Ã |Ã 4 Pagesdesk to start reading your history homework. Next thing you know you wake up and two hours have passed by. While your body might have just been tired, it is likely that you became bored with what you were reading. In Alain de BottonÃ¢â¬â¢s book, How Proust Can Change Your Life, de Botton writes about factors that effect a readerÃ¢â¬â¢s attention. It is important to be aware of these factors in your own writing so your paper isnÃ¢â¬â¢t boring to the reader. THESIS Everyone has experienced insomnia but most likelyRead MoreThe Importance Of Being Influenced By Jane Goodall969 Words Ã |Ã 4 Pagesshe stayed with chimpanzees, she feels peaceful. The natural environment helps her to get out of the sadness of her husbands (Derek) death. The days in the forest made Goodall believe that religion and science are not mutually exclusive. Alain de Botton in Ã¢â¬Å"On HabitÃ¢â¬ discusses a traveling mindset, which means that people are more likely to accept and respect new things during traveling. However, when they back home, they lost this traveling mindset, so they feel their lives are boring. Such travelingRead MoreThe Girl Effect : Nicholas D. Kristof And His Wife Sheryl Essay1445 Words Ã |Ã 6 Pagesspecifically relating to the unfair treatment of women and girls. In this essay Ã¢â¬Å"On Habit,Ã¢â¬ Alain de Botton may refer to this blindness as a Ã¢â¬Å"home mindsetÃ¢â¬ where we pay very little detail of what surrounds of because weÃ¢â ¬â¢ve become habituated to the everyday occurrences. Kristof and WuDunn write their essay in order to expose those quotidian cruelties certain cultures have become habituated in their home mindsets. De Botton might have suggested inheriting a Ã¢â¬Å"travelling mindsetÃ¢â¬ for those people who livedRead MoreAnalysis Of On Habit And Adam Gopnik1550 Words Ã |Ã 7 Pagesis essential in the concept of interaction and also how much we interact and to what degree is also influenced by multiple factors. Both Alain de Botton, the author of Ã¢â¬Å"On HabitÃ¢â¬ and Adam Gopnik, the author of Ã¢â¬Å"Bumping into Mr., RavioliÃ¢â¬ talk about our interaction with our environment and how different mindset perspectives affect this interaction. Both de Botton and Gopnik observe how we become Ã¢â¬Å"blindÃ¢â¬ to our surroundings be it the place we live or the people we live with because we are too Ã¢â¬Å"busyÃ¢â¬ Read MoreCan We Have The Coffee Together?1530 Words Ã |Ã 7 Pagesn amed Charlie Ravioli. Still, Olivia is a three-year-old kid, it is impossible for her to analyze aspects systematically and creatively. However, for some adults, like Alain de Botton, a Swiss philosopher and writer, seeks out an innovative way of traveling mindset to get along with his neighborhoods. Both of Olivia and de Botton get stuck with surroundings they live in. The modern urban grid crystallizes in our thinks and confines people into a preconceived stereotype to hinder close personal connectionRead Moresamplestrongpaper62230 Words Ã |Ã 9 Pagesattained his dreams because of his goal driven mindset, in which the focus is set on one goal. Ã¢â¬Å"On HabitÃ¢â¬ by Alain de Botton is about the authorÃ¢â¬â¢s views on the travelling and habituated mindset. He notices that his life has become dull and limited because of the habituated or goal driven mindset he was in. This mindset consists of not exploring our surroundings making the world seem monotonous. De Botton argues t hat the goal driven mindset is not beneficial because it limits how people perceive the
Wednesday, May 13, 2020
If the whole world starts saving energy at home, we can reduce global warming by a significant amount to keep the global temperature from reaching critical tipping points of temperature. The rising global climate is a problem, and is impacted severely by human actions, specifically the waste of energy in their own homes. Global warming is the term used to describe the increase in the Earth s atmosphere and oceans temperature, which is believed to be permanently changing the Earth s climate (LiveScience). The temperature of the Earth s atmosphere is rising because greenhouse gases are being trapped in the atmosphere, which in turn in also trapping heat in the atmosphere, not able to escape (Scott, 2009). Global warming is a severe problem for the Earth because it causes the regular temperatures to rise, and interferes with ecosystems all over the world, possibly destroying them, if not altering their system. Scientists have reported that the world is heating up even faster than predicted a few years before (Scott, 2009). The global climate change is threatening the production of corn, wheat, rice, and many other grain agricultural crops. Global warming is causing a problem for humans because as the Earth becomes hotter, it kills more crops, and is causing a food shortage as the worldÃ¢â¬â¢s population increases. Humans are causing global warming directly by utilizing fossil fuels instead of energy efficient sources, and all of the energy that we let escapeShow MoreRelatedGlobal Warming And Its Effects985 Words Ã |Ã 4 PagesEnvironmental Science Professor Mahoney 11/11/14 Global Warming Over the last few decades global warming has become one of the biggest environmental issues of all times. Every year, global warming gets worse and itÃ¢â¬â¢s affecting the way people live, it is affecting the atmosphere in general, and other living organisms in our planet. Global warming is the gradual and increasing rise of the overall temperature of the Earth caused by the greenhouse effect due to the increased levels of carbon dioxide andRead MoreGlobal Warming And Its Effects Essay1040 Words Ã |Ã 5 PagesGlobal warming is directly causing the rise in temperature of the Earth. The melting of the polar ice caps causes some of the most pressing issues including the endangerment of species indigenous to this region and the rise of ocean levels. Global Warming Global warming is the steady rise of temperature of the EarthÃ¢â¬â¢s surface. What exactly causes global warming? Numerous sources fuel global warming, such as deforestation, permafrost, and even sunspots. Obviously, many factors contribute to thisRead MoreGlobal Warming And Its Effects1331 Words Ã |Ã 6 PagesGlobal Warming Global warming is the causation of the Glaciers melting, sea levels rising, cloud forests drying, and wildlife struggles today. Humans are making this possible because of their release of heat-trapping gasses known as greenhouse gasses by their modern devices. Global warming is the abnormal speedy increase in the EarthÃ¢â¬â¢s average surface temperature. It is believed that this is due to the greenhouse gasses that people release into the atmosphere by burning fossil fuels.The greenhouseRead MoreGlobal Warming And Its Effects976 Words Ã |Ã 4 PagesAs global warming, we understand that is the rise in the average temperature of EarthÃ¢â¬â¢s atmosphere and oceans. It has been an immense concerning all over the world for the past decades since the current cycle of global warming is changing the rhythms of climate that humans, animals and plants rely on. Scientists have studied the natural cycles and events that are known to influence the change in climate to discover what i s originating the current global warming. However, the amount and pattern ofRead MoreGlobal Warming And Its Effects1571 Words Ã |Ã 7 PagesAs global issues today become increasingly controversial, many people are inclined to believe that Global Warming is an issue that can take a backseat to more significant issues that plague todayÃ¢â¬â¢s society. The information presented throughout my research in regards to the rising sea levels and the melting of glaciers and ice shelves, highly indicates that it cannot. What many Americans fail to realize is that if sea levels continue to rise due to Global Warming, then more than half of LouisianaRead MoreGlobal Warming And Its Effects1544 Words Ã |Ã 7 PagesGlobal warming is one of the vigorously discussed topic on Earth today. According to a TechMedia Network, Ã¢â¬Å"Global warming is the term used to describe a gradual increase in the average temperature of the EarthÃ¢â¬â¢s atmosphere and its oceans, a change that is believed to b e permanently changing the EarthÃ¢â¬â¢s climate.Ã¢â¬ (Ã¢â¬Å"Global Warming Ã¢â¬ ¦ EffectsÃ¢â¬ ). We have been witnessing the change in EarthÃ¢â¬â¢s climate since past few years, and we are well aware of the consequences of climate change as well. Global warmingRead MoreGlobal Warming And Its Effects1432 Words Ã |Ã 6 Pageshas an effect on climate change and contributes to global warming. Yet people tend to turn a blind eye to global warming and label it as a myth, whether they do not believe in it or it is not in their best financial interest to believe in it. Let us take a closer look at global warming and the effects it has on our people, homes and environments. Global Warming has become a rising problem in our worldÃ¢â¬â¢s climate. ItÃ¢â¬â¢s time we show the initiative to understand the concept of global warming and showRead MoreGlobal Warming And Its Effects928 Words Ã |Ã 4 PagesGlobal-Warming Mother Earth is burning as we speak; humanity has killed our precious Earth. Global-warming is a vicious killer that was created by the humans on this Earth, and there s no way to cure it. We, as humans, have the power to cleanse the Earth, but instead we destroy it. Heat is absorbed by carbon dioxide and greenhouse gases. A greenhouse gas absorb thermal radiation emitted by the Earth s surface. As the sun s energy reaches the EarthÃ¢â¬â¢s surface some of it goes back out into spaceRead MoreGlobal Warming And Its Effects1416 Words Ã |Ã 6 Pages Global Warming The earth is getting warmer, animals and their habitats are declining, human health is at risk and the cause of all this terror is Global Warming. Global warming will cause many parts of the world to change. In the next 50 years climate change could be the cause of more than a million terrestrial species becoming extinct. Sea levels will raise which means more flooding and is not good for the plants. With too much water the plants will die and herbivores will lose theirRead MoreGlobal Warming And Its Effects1312 Words Ã |Ã 6 PagesGlobal warming is presenting a lot of environmental and health problems to many countries. A lot of heat gets trapped on earth due to formation of a non-porous layer gases below the atmosphere. The worst effect is felt by developing countries, which are also geographically disadvantaged. The establishment of such countries is on low altitude areas. This position makes developing countries to be direct victims of floods from the melting snow at high altit ude areas. A lot of scientific research associates
Wednesday, May 6, 2020
The difference between the Middle Ages and the Renaissance is most visible through art and architecture, demonstrated specifically through an emphasis on religion or classical antiquity, and humanity. During the Middle Ages, art was more religious because it had a very religious influence from the church having such great power in the community. When the Renaissance started, art became more focused on ancient Greece. The Greek influence was because scholars were broadly studying the revival of classical antiquity. The architecture was affected in the same way because in the Middle Ages the style of the buildings was being influenced by religion. The style in the Renaissance was being more influenced by ancient Greece. The art andÃ¢â¬ ¦show more contentÃ¢â¬ ¦The painting depicts real people doing everyday things, like studying. Classical Antiquity was greatly displayed through another painting it depicts a normal person holding a balance. In the Middle Ages this would have been frowned upon because they discouraged the making of realistic paintings (Follett software). Realistic paintings would not have been introduced to the Renaissance without the humanists studying classical antiquity. Art with biblical themes were popular in the Middle Ages because the artists were also focused on theology. Jesus and Mary were usually the main focus in most paintings. The people in the Middle Ages really appreciated godly looks and tried to incorporate the catholic religion in most if not all of their paintings (class notes). For example, GiottoÃ¢â¬â¢s painting Madonna and child displays Mary and Jesus in the center of the painting. Not only are Mary and Jesus in the center, they are also illustrated to be a lot bigger than the angels around them. Giotto wasnÃ¢â¬â¢t the only artist to place Mary and Jesus in the center and larger, this was very normal for the Middle Ages. Most artists were very influenced by the church because the church had the highest role in government. Art and Architecture were greatly impacted by the humanistÃ¢â¬â¢s study of classical antiquity. The art was changed with the scenes having more of a Greek influence. For example, BotticelliÃ¢â¬â¢s Birth of Venus painting, Venus is taking up the whole center of the canvas. In the MiddleShow MoreRelatedThe Influence of Renaissance in Art and Architecture947 Words Ã |Ã 4 Pagesinfluences of any era is evident through artwork and architecture. During the Middle Ages the main influence was the church, this is evident through the focus on biblical and religious symbols. During the Renaissance the main focus was the study of people. This is shown through the increase in self portraits and classical antiquity-inspired buildings. The change between the Middle Ages and the Renaissance is best shown through the art and architecture, demonstrated specifically through an emphasis onRead MoreUnderstanding The Birth Of The Renaissance996 Words Ã |Ã 4 PagesUnderstanding the birth of The R enaissance is as simple as understanding that the quality of a straight razor shave is superior to that of a commercially stamped multi bladed razor. Looking retroactively at the years leading up to this rebirth one can note the beginning of reflection the Ancient World and the ins-and-outs of Roman culture. Influencing architecture, art, and social construction, a desire for the classics pulled Europe from the slumping years of the fading High Middle Ages. Actively bringingRead MoreComparison of Two Historical Art Periods1131 Words Ã |Ã 5 Pages Comparison of Two Historical Art Periods: Middle Ages (Gothic) and Renaissance Architecture Christina Plunkett Western Governors University IWT1 Humanities Task 1 Gothic style came about in the middle of the twelfth century. It was named after the Goths that controlled France during that time. It was developed as a result of Christian ideals. Christian leaders wanted big, tall, ornate churches to represent their strong faith. Later it was also used for non-religious buildingsRead MoreHumanities Essay959 Words Ã |Ã 4 PagesThe Renaissance and Baroque periods in European history played an important role in the development of humanities in their respectable age. During these periods it established a time of rebirth in humanisms and improvement of cultural accomplishments. The Renaissance period provided artistic freedom and individualism. It began around the 14th century in Italy and spread throughout Europe until the 16th century. Renaissance means Ã¢â¬Å"rebirthÃ¢â¬ and humanism of the renaissance artist was to express themselvesRead MoreIndividualism And Secularism In The Renaissance867 Words Ã |Ã 4 Pagesthat were introduced in the Renaissance and became fairly popular with the citizens who had experienced this time period. Secularism and Individualism though separate terms have a lot in common. They both have to do with separation of church from daily life. Secularism separating the government, and individualism pushing people to look less at what the Bible said and more at what was relative to their day to day lives. The emphasis on these two ideas during the Renaissance affected the way people wroteRead MoreItalian Renaissance Italy Essay1160 Words Ã |Ã 5 PagesIn Renaissance Italy, new attitudes and a Ã¢â¬Å"new conception of life itselfÃ¢â¬ emerged, deeply contrasting the attitudes and ideals of the previous Middle Ages. The Italian Renaissance, which occurred during the fourteenth and fifteenth century, was a complete Ã¢â¬Å"rebirthÃ¢â¬ of Greco-Roman culture and values. Subsequently, it marked an era of great erudition and broad-mindedness, wherein Italians discovered a profound admiration for artistry and philosophical reasoning, leading to a monumental political, scientificRead MoreRenaissance Time Capsule1187 Words Ã |Ã 5 PagesRenaissance Time Capsule Rodney A. Mathis HUM/102 June 2, 2014 Dr. Julie Kares Renaissance Time Capsule As part of my introduction to humanities class, I was required to probe for a concealed time capsule from both the Renaissance and the Baroque ages. Thereafter, I was required to identify at least two examples of art, music, architecture, philosophy, and literature depicted during the periods. By doing so, I expected to identify how these examples reflected world events and cultural blueprintsRead MoreThe Influence Of Humanism In The Italian Renaissance853 Words Ã |Ã 4 Pages The Influence of Humanism on the Visual Arts During the Renaissance, a program of study known as humanism, impacted education, art, politics, and ultimately shaped the Italian Renaissance. Humanism is defined as Ã¢â¬Å"a program of study designed by Italians that emphasized the critical study of Latin and Greek literature with the goal of understanding human nature.Ã¢â¬  Humanism changed peopleÃ¢â¬â¢s views and allowed them to start portraying people in a more realistic and relatable way. Many artists beganRead MoreThe Renaissance And The Medieval Period1658 Words Ã |Ã 7 Pages1. What is new about the Renaissance, compared to the medieval period that we studied in the last unit? The word Renaissance means revival or rebirth. This word comes from the European civilizations that follows behind the Middle Ages. It was held to characterize an interest in classical learning and values. The Renaissance dealt with the discovery and exploration of new continents, a decline in the growth of commerce and feudal systems. This new birth of resurrection is considered to have begunRead MoreThe Renaissance : The Age Of Rebirth1426 Words Ã |Ã 6 PagesThe Renaissance was from the 1300Ã¢â¬â¢s to the 1500Ã¢â¬â¢s. It started towards the end of the middle ages and the dark ages. It began after the Crusades when the Crusaders came back. The Renaissance was the age of rebirth. The age that consisted of many wonderful things including trade, art, science, architecture, religion, learning, and inventions. The biggest thing though was the trade. Trade began after the crusaders came back from there journey for god bearing many new things from all over Europe. They
Table of Contents Chapter 1 INTRODUCTION HISTORY2 1. 1) Introduction2 1. 2) Products and Services4 1. We will write a custom essay sample on Dubai Islamic Bank Report or any similar topic only for you Order Now 2. 1) Products4 1. 2. 2) Services6 1. 3) Departments:14 Chapter 2 COMPANY ANALYSIS18 2. 1) SWOT Analysis:18 2. 2) Competitor Analysis21 2. 3) Financial Analysis23 Chapter 3 MARKETING ANALYSIS24 3. 1) Target Market:24 3. 2) Marketing Mix:24 3. 3) Positioning:26 Chapter 4 EXPERIENNCE CONTRIBUTION27 4. 1) Account Opening:28 4. 2) CRO:28 4. 3) Relationship Department:29 Chapter 5 SUMMARY RECOMMENDATIONS30 References32 AppendicesÃ¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.. Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.. 33 Chapter 1 Introduction and History 1. 1) Introduction Thirty years ago, Dubai Islamic Bank (Ã¢â¬ËDIBÃ¢â¬â¢) created history by becoming the worldÃ¢â¬â¢s first Islamic Bank. Today, Islamic banking has become one of the fastest growing economic sectors with over 300 financial institutions, with assets estimated at over US $300 billion providing Islamic financial services. Despite huge growth in the sector DIB continues to be the industry pioneer and undisputed market leader to date. Since its inception, DIB has evolved from a retail bank to a fully fledged bank catering to almost all the requirements of its customers in providing Sharia-compliant solutions to major local and international companies. It has constantly upgraded its services to private individuals, who remain a highly valuable element of DIBÃ¢â¬â¢s customer base. By combining the best traditional Islamic values with high-standard technology and innovation, DIB is committed to not only fully comply with the principles of ShariÃ¢â¬â¢a in all its financial dealings but to also facilitate its customers who venture into the world of Islamic banking in such a befitting way that they would feel reaping the best rewards of both the worlds. For its outstanding performance and contribution to Islamic financing, DIB received the Best Islamic Bank in the Middle East Award (2006) by both EuromoneyÃ¢â¬â¢s Islamic Finance Weekly and Gulf Wealth Forum. DIB has also been awarded the Bank of the year (UAE) at the 2006 Banker Awards. DIB has not only been at the forefront of innovation but has excelled every step of he way. With the launch of Al Islami Internet Banking, DIB has re-affirmed its commitment to promote and develop Islamic banking in line with the requirements of the modern age. For these efforts, DIB received the Golden Trophy at the UAE Web Awards in 2006. DIB is also the first to offer a mobile SMS messaging service in both Arabic and English. Moreover, DIB became the first bank in the Middle East to introduce Internet Protocol (IP) for its Visa card operations. With path-breaking vision and bold strategies, DIB aims to enhance its status as a world leader committed to the goal of providing Ã¢â¬Å"World Class Banking. Ã¢â¬ Dubai Islamic Bank Pakistan Limited Dubai Islamic Bank Pakistan Limited (DIBPL), commenced operations in 2006. Since then, DIBPL has undertaken major initiatives to expand its branch network across the country. Under its consumer banking division, the bank is offering state-of-the-art Sharia compliant products that effectively compete with those being offered in the market by conventional banks. It also has expertise in providing Retail, Private, Small and Medium Enterprises, Corporate, Investment Banking and Advisory services. The Bank launched PakistanÃ¢â¬â¢s first Islamic Visa Debit Card and introduced financial products covering Home Financing, Auto Financing, and Depository products. DIBPL has also introduced Priority Banking and Internet Banking, both of which are being recognized as benchmark products in their respective categories. Besides regular banking services, the Bank is committed to bringing foreign investment to the country. DIBPLÃ¢â¬â¢s corporate wing has actively pursued foreign investors and convinced world renowned giants from the GCC to be part of PakistanÃ¢â¬â¢s economy. DIBPL is 100% owned by Dubai Islamic Bank PJSC (Public Joint Stock Company) and its nominated shareholders. The parent company is a listed company in Dubai. 1. 2) Products and Services 1. 2. 1) Products All the products offered by DIBPL are purely Islamic in nature. Dubai Islamic Bank offers following products. 1- Current Account: Dubai Islamic Current Account is a non-remunerative checking account designed for account holders who need to transact frequently. It specifically appeals to businessmen and salaried individuals who need to make frequent payments and deposits in their account. The Dubai Islamic Current Account is an ideal low cost option for such customers. Based on the WadiÃ¢â¬â¢a contract, the Dubai Islamic Current Account offers users safe keeping of their cash deposits against DIBPLÃ¢â¬â¢s guarantee to provide the depositor his funds on demand. However, the depositor permits DIBPL to use or invest his money in its Sharia compliant investments and is neither entitled to investment profit nor does the account holder bear any risk of loss. The Current Account is offered in currencies like Pak Rupees, US Dollar, UK Pound, EURO, Japanese Yen and UAE DirhamÃ¢â¬â¢s (only for cash deposits, cash withdrawals are not allowed) All entities including individuals, corporations, firms, societies, clubs, government organizations, statutory bodies, public and private institutions can open a Dubai Islamic Current Account with as low as PKR 1000. 2- Saving Account: Dubai Islamic Savings Account is a great investment option for depositors who wish to earn Halal returns on their savings. ThatÃ¢â¬â¢s not all, it allows you the flexibility to withdrawn your funds when ever required. By investing in the Dubai Islamic Savings Account, the depositor (fund provider or Rabbul-Maal) authorizes DIBPL (fund manager or Mudarib) to invest his/her funds on the basis of unrestricted Mudaraba contract according to the principles of Sharia. DIBPL invests these funds in its Common Mudaraba Pool with other deposits and the shareholdersÃ¢â¬â¢ equity. The profit on the Common Mudaraba Pool is distributed amongst the shareholdersÃ¢â¬â¢ and depositors on the basis of agreed upon weightages which take into consideration the tenor, amount of deposit and profit payment frequency of the account. The Dubai Islamic Savings Account is offered in Pak Rupees and US Dollar All entities including individuals, corporations, firms, societies, clubs, government organizations, statutory bodies, public and private institutions can open a Dubai Islamic Savings Account with a balance as low as PKR 1000. For US Dollar Savings Account, daily balance throughout the month must remain above US $500 to be eligible for profit payment. 3- Fixed Deposit: Dubai Islamic Fixed Deposit Account offers the ideal mix of long and short term benefits to depositors seeking attractive and Halal returns on their savings. With a history of high profit payouts Dubai Islamic Fixed Deposit Account is an excellent investment vehicle for depositor. By investing in the Dubai Islamic Fixed Deposit Account, the depositor (fund provider or Rabbul-Maal) authorizes DIBPL (fund manager or Mudarib) to invest his/her funds on the basis of unrestricted Mudaraba contract according to the principles of Sharia. DIBPL invests these funds in its Common Mudaraba Pool with other deposits and the shareholdersÃ¢â¬â¢ equity. The profit on the Common Mudaraba Pool is distributed amongst the shareholdersÃ¢â¬â¢ and depositors on the basis of agreed upon weightages which take into consideration the tenor, amount of deposit and profit payment frequency of the account. 4- VISA Debit Card: VISA Debit Card of Dubai Islamic Bank provides the following benefits to the customers. Ã¢â¬ ¢ Global Acceptance Ã¢â¬ ¢ Convenience Ã¢â¬ ¢ Unlimited number of Supplementary Cards Ã¢â¬ ¢ ATM Cash Withdrawal Ã¢â¬ ¢ Funds Transfer across Accounts Ã¢â¬ ¢ Balance Inquiry Ã¢â¬ ¢ Global Customer Assistance Services Ã¢â¬ ¢ Zero Loss Liability Free renewal 1. 2. 2) Services DIBPL offers following services to its customers: 1- Internet Banking DIBPL Branch Banking customers can easily make their monthly rental payments by using Dubai Islamic Internet Banking facility to internally transfer the rental amount from their personal account to the dedicated account. 2- SMS Banking: Now, Dubai Islamic Bank Pakistan Limited brings ba nking services at your fingertips! Free yourself from the hassle of visiting the branch and enjoy the convenience of Dubai Islamic SMS Banking. SMS Banking Features Ã¢â¬ ¢ You can select your desired services from a variety of options available Ã¢â¬ ¢ You can block your account, in case of stolen or lost cell phone Ã¢â¬ ¢ 24/7 customer service helpline Ã¢â¬ ¢ Automated help messages on your cell phone 3- Locker DIBPL is pleased to offer locker services to its customers. Our customers can lease a locker for the safekeeping of their valuables for complete peace of mind. Customers are required to pay a security deposit at the time of locker issuance. This security deposit is refundable once the customer discontinues the service. In addition to the security deposit, an annual rental is payable in advance depending upon the size of the locker. 4- Phone Banking: Dubai Islamic Bank Pakistan Ltd. offers a state-of-the art 24/7 Phone Banking service which provides quality services and financial solutions to esteemed customers. Our highly trained Phone Banking Officers are available round the clock to assist and provide you the services. 5- Problem Resolution Unit: DIBPL is fully committed to providing a World Class experience to its Customers. However, it needs support to further improve its services. If you come across any problem or query, have a complaint or a suggestion; you can contact Dubai Islamic Phone Banking 6- Corporate Banking The world of finance belongs to those who shape it. DIB has taken a leading role in shaping the dramatic transformation that UAE has experienced in the last two decades. Now, with the same vigor, the Bank comes to assist businesses in Pakistan. DIBPL provides a wide range of services specifically designed to assist Pakistani businesses. You can benefit from our: Ã¢â¬ ¢ Cash Management Services Ã¢â¬ ¢ Trade Related Services Ã¢â¬ ¢ Investment Banking Services A) Cash Management DIBPL Cash Management offers comprehensive end-to-end Sharia compliant solutions to meet your cash flow requirements. With our help, you can reduce turn around times for your accounts receivables, better manage your payables, and benefit from our value-adding MIS reports. GL reconciliation would have never been easier for you. Collections DIBPL is an expert at facilitating the collection of sales proceeds and converting your Receivables into Funds Available. You are provided the facility of maintaining a single concentration account. Collections from all over Pakistan (cash/ cheque/ pay order/ demand draft) will be credited to this main account via DIBPLÃ¢â¬â¢s real time online branch network. Bulk Data Processing DIBPL has formed project-to-project alliance with National Institutional Facilitation Technologies on processing and collection. DIBPL will perform the role of the financial institution while National Institutional Facilitation Technologies will provide the expertise in the area of bulk processing. National Institutional Facilitation Technologies has 10 years of experience in this area and has previously done such projects for Sui Southern Gas Corporation and Lahore Electric Supply Company successfully. Payment Product The product facilitates clients in managing their outflow of funds. The outflows can be through Pay Order/Demand Draft or by way of electronic cheques issued at the clients office. Depository Services / Liquidity / Funds Management In DIBPLÃ¢â¬â¢s suite of ShariÃ¢â¬â¢a approved Investment Depository Products, your organization will certainly find just the right combination of attractive returns and enhanced liquidity that it requires. Enhance your funds management like never before. Foreign Exchange Remittances The Cash Management Group at DIBPL is adept at handling outward/inward remittances through State Bank of Pakistan. Be it money transfers within Pakistan or outside, DIBPL will have a product to meet your needs safely and efficiently. The BankÃ¢â¬â¢s extensive network of correspondent banks in all major countries of the world is all that your business will require. Cash-In-Transit Services DIBPL can arrange for its clients a secure pick up of cash from the customerÃ¢â¬â¢s door step for depositÃ at DIBPLÃ¢â¬â¢s nearest branch. B) Trade Related DIBPL offers a range of solutions to help customers in their trade transactions. The Banks rapidly expanding local network befittingly complements the extensive experience it has acquired in managing correspondent relationships across the globe. DIBPLÃ¢â¬â¢s Sales and Service Outlets have the infrastructure in place to ensure that customersÃ¢â¬â¢ documents are processed accurately and in the fastest possible time. DIBPL trade professionals look forward to sharing with you their trade related knowledge. Import Murabaha Import Murabaha is a product, used to finance a commercial transaction which consists of purchase by the Bank (generally through an undisclosed agent) the goods from the foreign supplier and selling them to the customer after getting the title to and possession of the goods. Murabaha financing is extended to all types of trade transactions i. . , under Documentary Credits (LCs), Documentary Collections and Open Account. Wakala Istithmar Facility (Exports) A unique structure tailor-made for the exporters of the country, the Wakala Istithmar facility which has been developed under the direct guidance of Sharia to meet the working capital requirements of exporters and local manufacturers speaks volumes about o ur ShariÃ¢â¬â¢a expertise and edge in bringing new ShariÃ¢â¬â¢a compliant products to the market for promotion of Islamic banking and ridding those who desire Halal income from interest-based financing. Wakala Cum IstisnaÃ¢â¬â¢a Facility (Local Supplies): IstisnaÃ¢â¬â¢a is a contract for manufacturing or construction whereby the manufacturer sells to the buyer, goods of specific description, at a fixed price, which the manufacturer shall make from raw material of its own and deliver to the buyer at a future date. Istisna cum Wakala is a two-leg short-term trade finance solution which enables a manufacturer to fulfill his payment obligation under a documentary credit presentation and allows time for the goods to be cleared, manufactured and stocked. Once the goods are delivered to the buyer, the customer then sells the goods, in its capacity as the agent of the bank to creditworthy and trusted buyers and realizes the sale proceeds on behalf of the Bank. Such finances are offered in conjunction with L/Cs to corporate customers under Wakala Istisna facility. Guarantee: A guarantee is issued by DIBPL (the guarantor) on behalf of its customer (the applicant) in favor of a third party (the beneficiary), for fulfillment of specifically defined contractual and/or financial obligations of the applicant. If the obligations are not fulfilled by the applicant, the guarantor will pay up to a certain amount to the beneficiary on non-performance of the obligations by the applicant. Exchange Regulations for Guarantees in Pakistan are governed under Chapter XIX of Foreign Exchange Manual (FEM) of the State Bank of Pakistan. Internationally, (ISP-98) International Standby Practices 1998 of International Chamber of Commerce (ICC) Publication No. 590 also apply. C) Investment Banking With its team of seasoned professionals, DIBPL has become the Investment Bank of choice for local and regional clients in a short span of time. DIBPL leverages the regional expertise and local knowledge to create an efficient blend of solutions for our customers. DIBPLÃ¢â¬â¢s Investment Banking provide its clients with a unique combination of expertise, broad range of investment banking/financial services and access to top regional decision makers. DIBPL derive strength from our team that has unrivalled experience in dealing with the largest M, Advisory and Fundraising transactions in the country. 7- Consumer Financing A) Home Finance Dubai Islamic Home Finance is the key to your dream home and we are eager to put this key in your hands. Using the Musharaka cum Ijara model, the Bank enters into a partnership with you and helps you in fulfilling your dream of owning a home quickly, conveniently and in a fully Shariah compliant manner. Whether you want to buy, renovate or simply wish to switch from your present home finance with any other bank, DIBPLÃ¢â¬â¢s would be the best Shariah compliant alternative. Currently Dubai Islamic Home Finance is offering three product variants: Ã¢â¬ ¢Home Purchase. Ã¢â¬ ¢Purchase of undivided share (Home Renovation). Ã¢â¬ ¢Purchase of undivided share of property from other bank (Balance Transfer) B) Auto Finance Dubai Islamic Auto Finance offers a world class auto finance facility that enables you to get a car quickly, conveniently and in a fully Sharia compliant manner. Using Musharaka cum Ijara model to finance your car, steer yourself towards peace of mind and fulfillment of your desire. C) Business Finance Dubai Islamic Business Finance is a shariah compliant term finance facility which provides a complete solution for fulfilling the financial needs of your business. Using the Shirkatul Melk cum Ijara model, Dubai Islamic Bank Pakistan Ltd. DIBPL) enters into a shirkatul melk relationship with you by purchasing an undivided share of your residential property and subsequently leases to you this undivided share in the property against monthly rentals thus helping you in fulfilling your business needs conveniently and in a fully Shariah compliant manner. This product is available for new as well as those who already have a business finance facility from another bank and wish to bank the Islamic Way. Features There are so many reasons that make Dubai Islamic Business Finance the right choice. It is 100% Shariah Compliant an customer can select from Financing amount of Rs. 500,000 and financing up to Rs. 20 million. DIBPL offersÃ Fastest processing time and affordable monthly payment plan. Customer can finance up to 70% of your property value. 8- Al-Islami Saving Takaful Plan Dubai Islamic Bank Pakistan Limited (DIBPL) is proud to introduce Al-Islami Saving Takaful Plan in collaboration with Pak Qatar Family Takaful Ltd. (PQFTL) Al-Islami Saving Takaful Plan is a Shariah compliant alternative to conventional insurance, offering a unique combination of saving , investment and protection. The Al-Islami Saving Takaful Plan offers you peace of mind and takes care of the future of your loved ones by offering a saving plan and providing Takaful coverage in event of death to your beneficiaries. So rest assured, with Al-Islami Saving and Takaful Plan, your future plans are in safe hands. As an individual you have many dreams: Ã¢â¬ ¢ A college education for your child from a prestigious university Ã¢â¬ ¢ A dream wedding for your beloved daughter Ã¢â¬ ¢ Your spiritual journey to perform Hajj Ã¢â¬ ¢ A comfortable retired life with enough savings to take care of you and your loved ones Any other financial objectives you may want to achieve The Islamic concept of Takaful The word Takaful is derived from Arabic verb Kafala, which means to guarantee, to help, to take careof oneÃ¢â¬â¢s needs. Takaful is a system based on the principle of TaÃ¢â¬â¢awun (mutual assistance) and Tabarru (voluntary contribution where risk is shared collectively against loss or damage to any one of them as defined in the pact. Takaful is operated on the basis of shared responsibility, brotherhood, solidarity and mutual cooperation. 1. 3) Departments: DIBPL has following departments 1- Cash department: Cash department performs following functions Receipt: The money which either comes or goes out from the bank, its record should be kept. Cash department performs this function. The deposits of all customers of the bank are controlled by means of ledger accounts. Every customer has its own ledger account and has separate ledger cards. Payment: It is a bankerÃ¢â¬â¢s primary contract to repay money received for this customerÃ¢â¬â¢s account usually by honoring his cheque. 2- Clearance Department: A clearing house is an association of commercial banks set up given below for the purpose of interchange and settlement of credit claims. The function of clearing house is performed by the central bank of the country by tradition or by law. In Pakistan, the clearing system is operated by the SBP. If SBP has no office at a place, then NBP, as a representative of SBP act as a clearing house. The easy, safe and most efficient way is to offset the reciprocal claims against the other and receive only the net amount owned by them. This facility of net interbank payment is provided by the clearing house. The representatives of the local commercial banks meet at a fix time on all the business days of the week. This meeting is held in the office of bank that officially performs the duties of clearing house. The representatives of commercial banks deliver the cheques payable at other local banks and receive the cheques drawn on their banks. The cheques are then sorted according to the bank on which they are drawn. A summary sheet is prepared which shows the names of banks, the total number of cheques delivered and received by them. 3- Advances Department: DIBPL gives loans to the borrowers for different purposes. These loans are given for various sectors for different periods. Small Finance, Cash Finance, Personal Loans, Demand Finance, Running Finance, Corporate Finance, Export Import Financing, House Building Finance. 4- Remittance Department: Another important department in the bank is remittance. People send their money to other persons and organizations through various ways i. e. bank draft, telegraphic transfer, mail transfer, coupons, Govt. Draft and Western Union Money Transfer etc. It works both inward and outward. DIBPL offers the following forms the remittance. Ã¢â¬ ¢ Demand Draft Ã¢â¬ ¢ Telegraphic Transfer Ã¢â¬ ¢ Pay Order Mail Transfer Ã¢â¬ ¢ Safe custody of specimen signature book Ã¢â¬ ¢ Preparation of periodical statements Ã¢â¬ ¢ Any other work/duty assigned by manager 5- Deposits Department: Customers keep their savings in PLS saving accounts and businessmen save their money in bank current accounts. DIBPL gives profit on saving and special saving accounts. 6- Foreign Exchange Department: This department mainly deals with the foreign business. The main functions of this department are: Ã¢â¬ ¢ L/C dealing Ã¢â¬ ¢ Foreign currency account dealing Ã¢â¬ ¢ Foreign Remittance dealing 7- Compliance Department: Role of branch compliance department is to reconcile the prescribed frequencies, investigate long pending reconciliation item, and ensure correct treatment every half year and clearing system service branch-in major cities. Internal control is the integration of activities, plans, attitudes, policies and efforts of the people of the bank working together to provide reasonable assurance that the organization will achieve its objectives and mission. 8- Human Resource Management Department: Human Resource Management Department works for the betterment of the employees. Enhances skills, training management, service benefit, wages, medical facilities, staff loans are basic function of this department. 9- Information Technology Department: BankÃ¢â¬â¢s data collection and information system run by Regional Data Collection Center. This department manages staff training programs regarding computer. Chapter 2 Company Analysis DIBPL being a quality organization strives to provide quality to all its stakeholders, customers, employees and environment. In Pakistan, it is operating in a very volatile economic and political environment. The detail of its analysis is given in following sections. . 1) SWOT Analysis: SWOT analysis is an effective technique to evaluate various aspects of an organization. Strengths: 1) DIBPL has this privilege to be the first in the Islamic Banking sector which give DIBPL a competitive edge over all other banks and being the pioneer of this industry. DIBPL is enjoying major share of it. 2) The first international Islamic Bank in P akistan with a network of over 80 branches. 3) The members of Shariah Supervisory Board of DIBPL are internationally renowned scholars, serving on the boards of many Islamic Banks operating in different countries. ) Being an Islamic Bank, DIBPL has a wide national network. As an emerging markets bank, it has branches in all major cities of Pakistan with the facility of online banking, it is very easy for its customers to transact all over the country. 5) DIBPL provides online banking service. Online banking service means that a customer can withdraw and deposit his money at any branch in the country. Where this service is not present, cheque has to be presented only in that branch on which they are drawn. But with this facility, a person has access to its funds at any branch of the bank. ) There are many value added features in the products offered by the bank. ATM cards are provided with every account. Other features are present in various products. The priority customers enjoy a m uch pampered status at the bank. 7) The employees at the bank provide impeccable customer service to their customers. 8) Customers are treated with great respect and honored to the utmost degree. 9) The working environment of bank is very friendly and cooperative. There is no bossiness in the higher management. The upper management consults its staff in making decisions and provides them independence in their job areas. Weakness: 1) Till the last year, DIBPL had a totally different perspective. The management was of the view that the customer should come to them and they donÃ¢â¬â¢t need to go to customer. But in this era of mass marketing and advertising, it is not possible to stay in competition without these tools. The bank has now changed its perception arid has started an effective marketing and advertising strategy. But the previous gaps are still there and there is lack of awareness in the people about the bank and its products. The bank needs to improve in marketing and advertising areas. ) It was observed in the bank that the degree of satisfaction of employees was quite low. First of all, the pays are lower those offered in other banks. Secondly, the employees are given targets that are too difficult to achieve. For example, the targets given to the sales personnel and service department are higher than any other bank in the country, be it a local bank or a foreign bank. This makes a job too stressful and tensed. It is good to keep people under a continuous move, but to overstress them can be harmful to them as well as to the organization. ) Due to the dissatisfaction of staff and recession, there is high turnover among them. People who find other alternatives do not stay with the bank. Therefore, the bank incurs loss in their training and development. Opportunities: 1) Home financing sector can be targeted to maximize profits. 2) Growing demand of Islamic products and services 3) Venturing into Islamic groups outside the countries as opportunity to expand business in UAE and Gulf states. 4) Coming up with the products for the SME to target the medium level customers 5) Doing business with the companies having Islamic mindset i. e. Islamic Financial Institutions 6) Increase branch network within the country 7) The innovative service of Islamic Insurance called Takaful Threats: 1) Right now there are a few banks that are providing Islamic banking services in addition to DIBPL. These banks include Bank Islami, Al-Barkah Bank, Meezan Bank and some branches of Bank Alfalah which are dedicated for Islamic Banking services. ThatÃ¢â¬â¢s why there is no intense threat for the DIBPL in the near future but it is not difficult to say that more banks may enter in this field as the awareness of Islamic banking is increasing among the public. Therefore the DIBPL should not be contented to its present market share but should strive for providing better and better and modern services. 2) Due to the increase in the conventional commercial banks, there is an increase in competition. Also there is a lot of aggressive marketing by the competitor banks. This is also threat for DIBPL. Reviewing this SWOT analysis from time to time would help evaluate bankÃ¢â¬â¢s position. It would help the management in comparing their strengths of the past with those of the present and to what extent the management has been able to overcome the weaknesses. . 2) Competitor Analysis In Islamic Banking sector, the competitors of DIBPL are Bank Al-Barkah, Bank Islami, Meezan Bank and some branches of Bank Alfalah which are dedicated for Islamic Banking services. Two major competitors of DIBPL are: Meezan Bank Meezan BankÃ is an Islamic bank based inÃ Karachi,Ã Pakistan. The Bank commenced operations in 2002, on being issued the first-ever Is lamic commercial banking license by theÃ State Bank of Pakistan; in 2012 Meezan Bank completed a milestone of 10 years of Islamic Banking in Pakistan. Meezan Bank Ltd. s a publicly listed company with a paid-up capital of Rs. 9 billion (March, 2012). The Bank is sponsored by leading financial institutions from Pakistan and the Middle East that includeÃ Noor Financial Investment Co. , Kuwait,Ã Pakistan Kuwait Investment Company (Pvt. ) LimitedÃ andÃ Islamic Development Bank, Jeddah. TheÃ JCR-VIS Credit Rating Company Limited, has rated Meezan BankÃ¢â¬â¢s short term rating at A-1+ (A-One Plus), the highest standard in short term rating, and rated the long-term entity rating at AA- (Double A Minus) with stable outlook. The Bank offers a range of personal and corporate Islamic banking products and services through a retail banking network of over 280 branches in 88 cities. Backed by a state-of-the art T-24 core banking system, the branch network is supported by 24/7 banking services that include over 200 ATMs, Meezan VISA Debit Cards, Internet Banking, SMS alerts and a 24-hour Call Center. Meezan Bank has an in-houseÃ ShariahÃ Advisor and a Shariah Supervisory Board composed of Shariah scholars; the Bank operates strictly under the principles of Islamic Shariah and is well recognized for its product development and Islamic Banking research and advisory. Meezan Bank has been consistently recognized as the best Islamic Bank in Pakistan by various local and international institutions over the past several years including Ã¢â¬ËBest Islamic Financial Institution in PakistanÃ¢â¬â¢ byÃ Global Finance magazineÃ and Ã¢â¬ËBest Islamic Bank in PakistanÃ¢â¬â¢ byÃ Islamic Finance News of RED money Group, Malaysia. (Appendix I) BankIslami Pakistan Limited BankIslami Pakistan Limited is located inÃ Karachi,Ã Sindh,Ã Pakistan. BankIslami Pakistan Limited was the first Islamic Commercial Bank to receive the Islamic banking license under the Islamic banking policy of 2003 fromÃ State Bank of Pakistan on March 31, 2005. The Bank started its operations from April 7, 2006 and offers shariah compliant retail banking, investment banking, consumer banking and trade finance products. The Bank intends to focus on Wealth Management as the core area of business and plans to soon launch Proprietary products, and integrated financial planning services. The Bank has a nationwide presence, its branch network consists of 102 branches sub branches spread over 49 cities of Pakistan. BankIslami is the Joint venture project of three groups namely Jahangir Siddiqui Co. Pakistan, Randeree family, Bank. The Bank is also publicly traded on the Karachi Stock Exchange. The Bank is assigned a long term entity of Ã¢â¬ËAÃ¢â¬â¢ and short term rating of Ã¢â¬ËA-1Ã¢â¬â¢ by Pakistan Credit Rating Agency Limited (PACRA), reflecting BankIslamiÃ¢â¬â¢s well conceived business strategy and establishment of effective operating platform by the Bank to execute the business strategy. BankIslami has been able to build a strong image by using smart marketing ideas that resonate well with the public mind. For example, the calligraphy of the BankÃ¢â¬â¢s name inÃ Urdu has been done by the sameÃ calligrapherÃ Shafiq uz Zaman who has been working in the Holy Mosque ofÃ MedinaÃ inÃ Saudi Arabia. (Appendix II) 2. ) Financial Analysis The analysis of balance sheet of bank shows that current liabilities increased over the time (Appendix III). The increase in liabilities and increase in loan shows that company wants to have more cash in hand rather than lending it to others and losing the return on investment. As for as the fixed liabilities of the comp any are concerned they are showing increasing trend and same is the case with the current and long term liabilities but the increasing trend in assets is lower than the increasing trend in liabilities which is not a good position for the bank as shown in the balance sheet. In generation of funds of DIBPL, the most important source is mark-up income. The three earning revenues are the mark-up income, non mark-up income and other income (Appendix IV). In balance sheet the most important item is earning assets. The bank has strong earning assets like advances, investments, and lending to financial institutions has major percentage of assets of the bank. In liability and equity analysis the borrowing from financial institutions and deposits have major portion and reserves and share capital has major portion in equity. Analysis of balance sheet shows increase or decrease in each item as a percentage of asset, means that assets are chosen as key figure. Chapter 3 Marketing Analysis Dubai Islamic Bank Pakistan Limited is growing rapidly in Pakistan. This shows the success of its various strategies. Various factors of marketing for DIBPL are: Ã¢â¬ ¢ Target Market Ã¢â¬ ¢ Marketing Mix Ã¢â¬ ¢ Positioning 3. 1) Target Market: The DIBPL is mainly focusing on corporate sector. Small and medium sized companies are its main customers. The reason behind focusing on corporate sector is that a single company can deposit a large sum of money that is difficult to achieve by focusing on individual customers. It does not mean that DIBPL is lacking the other side of the picture. It has also got individual customers. Corporate sector constitute 80% of all the deposits of the bank. This is the reason DIBPL is focusing on corporate sector. Due to this reason we see no advertisement of DIBPL in print and electronic media. Target marketing is the basic step for rest of the strategies being developed. 3. 2) Marketing Mix: Marketing Mix includes four PÃ¢â¬â¢s of marketing. These are: Ã¢â¬ ¢ Product Ã¢â¬ ¢ Price Ã¢â¬ ¢ Place Ã¢â¬ ¢ Promotion Products and services provided by DIBPL have been discussed in first chapter of this report. All the products and services offered by DIBPL are purely Islamic. No other bank offers such services to the customers. Price means that service charges of the bank. Charges are determined by the Schedule of Charges every year. Bank provides quality services at very competitive charges. For example there are charges for the renewal of ATM card, renewal of cheque books and cash withdrawals. The main factor to discuss is the promotion. Promotion strategies consist of promotion mix. The promotion mix includes: Ã¢â¬ ¢ Advertising Ã¢â¬ ¢ Publicity Ã¢â¬ ¢ Sales Promotion Ã¢â¬ ¢ Personal Selling Advertising is paid and non personal communication of companiesÃ¢â¬â¢ message to target customers. DIBPL has no focus of advertising. This is also a weakness of DIBPL, because its customers are spending a lot of funds on advertising. Competitors are taking full advantage of it. As DIBPL is offering products and services to individual customers, so they need to communicate their products and services with people through print and electronic media. DIBPL has very effective personal selling teams. Their Financial consultants and Relationship managers convince corporate customers to an account in the bank. This is competitive advantage of DIBPL. This is the reason due to which DIBPL stands good in the market. Even without advertising and other communication methods DIBPL manages to gain a good market share. 3. 3) Positioning: Positioning is the customersÃ¢â¬â¢ perception about the companyÃ¢â¬â¢s products and services. DIBPL is positioning itself as a prestigious and quality services provider in the country. DIBPL believes that customer is the key to success of business. Customer Relationship department and Relationship managers are responsible for giving customer a sense of prestige at the bank. Chapter 4 My Experience and Contribution I have done six week internship in DIBPL Bank satellite town branch, Murree road, Rawalpindi. During my internship I have worked in various departments of bank. The reason for selecting DIBPL was that it is among those few banks which performed remarkably well in less time and grabbed the market share with their products, services and different banking experience. The bank encouraged young minds to come and work with them. The working environment of the bank is good and appreciating as compared to other banks in the industry. It is one of the very few organizations that give a safe working environment for female and provide them equal opportunities for growth in comparison to male employees. The employees of the bank are really cooperative and help a lot in providing knowledge and expertise to new entrants and internees. I have worked in various departments and gained knowledge not only about DIBPL but also about rules and prudentialÃ¢â¬â¢s of State Bank of Pakistan and competitor banks. Another reason for selecting DIBPL was that they keep a complete record of the performance of the internees and offer job to those who perform well after the completion of their degrees. I have completed my internship in a total duration of six weeks and department that I worked during this time are as follows: 1- Account Opening 2- CRO 3- Relationship Department 4. 1) Account Opening: Account Opening department is one of the departments that come under the retail/general banking facilities provided by DIBPL. If a customer loses his cheque book, then the customer will have to come to the bank and firstly report the loss and then stop the payment, by telling the series of cheques he has lost. By stopping payment, the customer is guaranteed that no payment is made from their account. The process for stopping payment, after the customer tells that he has lost his cheque book is that he fills a Ã¢â¬Å"Form BÃ¢â¬ , which is same as a cheque book requisition form and an indemnity form, stating no responsibility on behalf of the bank if any illegal payment is made before the time of announcing a cheque book lost. When a customer comes to open his account, he has to fill a form with the bank. As a part of my internship I had to fill these forms by customers and then use the appropriate bank stamps to complete these forms. Also as a part of the relationship form, I also had to do a Ã¢â¬Å" VerisysÃ¢â¬ a verification system started by NADRA on the CNIC of the new account opener. A Ã¢â¬Å"VerisysÃ¢â¬ tells, that whether the candidate is a Pakistani citizen or not and all the information written in account opening form are true or not by matching the information to the database of NADRA. Working in this department helped me a lot in learning new things like personal verification, dealing with clients and database management system. 4. 2) CRO: Under CRO department I had to deal with customers on front end and handle their queries regarding the account opening, services and meetings with bank relationship managers. A bank statement tells the whole activity of a bank account over a period of a time. Customers often come and want their bank statements and have to fill a form, relating to the time period for which the bank statement is needed. As a part of my internship, I had to facilitate the customer to fill the Ã¢â¬ËBank Statement FormsÃ¢â¬â¢ and produce the statement through the bank software and print it as well. Often customer wants to know their accounts balance over phone and thus I had to tell them their account balances using the bankÃ¢â¬â¢s information system. Other work done by CRO is the general client dealing and furnishes their queries in bank and on the phone. The after account opening process is completed by this department as well as the reactivating of accounts and guiding the clients during applying for different services of bank. In all above mentioned activities I was acting as an assistant to CRO and carrying the activities. 4. 3) Relationship Department: The Relationship Department is present in every branch which is assigned to bring the business for the bank i. e. the accounts of corporate sector as well as the business people. The branch set the target for them and they have to achieve it. The targets are set for six months. In this I had to assist the relationship managers in targeting the clients and then accordingly take the appointment time for meeting and working for preparing understanding the benefits by affiliation with DIBPL. Working in DIBPL was a unique experience, many skills were used there and many skills were developed. As I worked in CRO department, it enhanced my communication and negotiation skills. Chapter 5 Summary and Recommendations I spent six weeks of my internship in DIBPL satellite Town, Rawalpindi. During these six weeks, I felt myself to be a part of bank. Even, this was my first experience of working in a bank but I learnt a lot from this experience. In first chapter of this report, the history of DIBPL and its introduction is provided. The products and services provided by bank are also discussed in the first chapter. Various departments of the bank were also discussed in detail. In the second chapter of this report, the complete analysis of the bank has been provided. SWOT analysis highlighted the bankÃ¢â¬â¢s strengths, weaknesses, opportunities and threats. CompetitorsÃ¢â¬â¢ analysis has provided the overall picture of competitive environment. The financial analysis has described the financial position of the bank. In the third chapter of this report, various marketing strategies opted by the bank has been analyzed in detail. This chapter highlights the advertising and positioning strategies of the bank. Chapter four is about my personal experience and contribution. Personal experience is an exact of what I have learnt during my internship. At the end the report has been concluded with summary and recommendations in the final chapter. Recommendations Based on my observation regarding the operations and policies of DIBPL, I have tried to give recommendations for further improvement. 1) First of all, I would like to suggest that the bank must pursue a very aggressive marketing and advertising strategy so that it can create awareness in the general public about its Islamic products and services. ) Secondly there is a need for creating satisfaction among employees. They do not feel any attachment to the organization. There is a requirement for building up their loyalties so that the bank can curtail the dissatisfaction and turnover among employees. 3) The personnel in the bank should not be overstressed with workload. The workload is of a destructive level. At that level of load the empl oyees loose all the comfort in their work and remain tense and frustrated. 4) Job training is very important aspect that DIBPL is lacking in. New employees are recruited directly without any prior training or orientation. The result is that they do not understand the organizational structure and culture and become frustrated in their start. This reduces their productivity and efficiency. If such a training program is started, then new employees would feel more comfortable and adapt easily to the environment. 5) DIBPL should continue to expand its business, by increasing its deposits portfolio through aggressive market penetration strategies. 6) DIBPL needs to improve its website. More information relating to financial performance of the bank should be available on the website. 7) Management should distribute work equally among the different employees. ) Related jobs should be assigned to the employees so that they can work more efficiently. References Van Horne, J. C. , Wachowicz, J. M. (2008). Fundamentals of Financial Management. (13th ed. ). Griffin, R. W. , Ebert, R. J. (1998). Business. (5th ed. ). Upper Saddle River: New Jersey Kotler, P. , Armstrong, G. (2007). Principles of Marketing. (12th ed. ). Cravens, D. W. , Piercy, N. F. (2008). Strategic Marketing. (9th ed. ). Lynch, R. (2006). Corporate Strategy. (4th ed. ). Shim, J. K. Siegel, J. G. (2003). Managerial Finance. http://www. dibpak. com http://www. dibpak. com/products How to cite Dubai Islamic Bank Report, Essay examples
Question: Discuss about thrHospitalityfor Trump International Waikiki Hotel. Answer: Introduction: Trump international Waikiki hotel is one of the finest hotels in Waikiki and is the only five star rated hotels in the Island of Oahu. The hotel is situated in Hawaii and is regarded as the premier luxury hotel. It has condo hotels which are 460 in numbers and the hotels unit ranges from 562 square feet to 2110 square feet and the range of price is between $ 500000 to $ 3 million. The location of the hotel is 223 Saratoga roads, Honolulu, HI in United States. The hotel offers 462 guestrooms in the 38-story property. There are two restaurants featured in the hotel that is 24-hour room service and a lobby lounge. The market size of Trump international Waikiki hotel is 4260 million. The hotel has the 562 units (WaikikiTM, 2016). The buildings of the hotel includes the dining space, spa, caf, lobby, car parking and provides the view of ocean from the suites in sixth floor. The spa at the hotel comes with the special treatment using the techniques and the plants of Hawaiian. The lounge of the hotel offers special ranges of drinks along with the liquid breakfast. The property is rated best in Honolulu. The rooms of the hotels come equipped with the facilities of best view of oceans and beach situated in that area. The beach landmarks are the walking distance from the hotels. The hotel is the condo hotel and involves the Tower trump international hotel and trump international hotel. Waikiki Parc hotel is the boutique which is located in Honolulu situated in Hawaii and it is the luxury sister property of Halekulani and is located just across the street on beach of Waikiki. The hotel features the fitness room and has a rooftop-heated swimming pool. The Waikiki Parc hotel is situated in the Helomua Road, Honolulu in Hawaii. The guestrooms of the hotel are blended with the modern designs. In addition, the space of room is more than 325 square feet. The hotel offers the amenities that are exceptional and in superb location. It is one of the most sought after hotel in Hawaii and has the exceptional location. The hotel provides the guests with the wide range of activities from surfing, hiking, shopping to exploring Waikiki nightlife. The market size of Waikiki Parc hotel is 3000 million (Waikiki Parc, 2016). The hotel offers the promotion strategy that is one of the best in the hotel industry of hotels. The customers would get the best booking rate if it is done via the promotion and the hotel does not charge any resort fees. The hotel has the sound financial standing and it has enhanced team of hospitality management having experienced and seasoned caliber. It has significant global scales and has public and marketing relations. It has market alliances and public relations. It has high value experience of guest, which is delivered by the brand Halekulani. The service and product of the hotel has the product that is unrivaled and is placed in the global market. Discussion: The booking of the hotels are done using the online hotel booking sites and the rates for which vary with the on arrival bookings. The reservation done using the websites such as Agoda and Wotif would involve different cost and this cost differs from on arrival booking. The websites provide the customers with different advantages. Event that was happening in the market at the given time of analysis: The market of Hawaii was dominated by the sporting events that occurred in the Hawaii Island, Oahu, and Maui. The sporting events that occurred are the Iron man world championship, Xterra world championship and Hawaiian Airlines Rugby championship. The Hawaii tourism authority supports all the sporting events. The marketing program concerning the sporting events is to bring the sporting events of Hawaii at the global level. There are also many festivals that are observed during the given month of visit. The various festivals are Honolulu pride festivals, Talk story festival, and Hawaiian slack key guitar festival, Okinawan, Hawaii Burlesque festival and festival dances of love festival, Hispanic heritage festival, food and wine festival. There is also upcoming Hawaii international film festival. Comparing and Contrasting the Price Movements of the Rates of Both the Hotels Against each other and Against the Website. Comparison of Trump international Waikiki Hotel with Waikiki Parc Hotel: Source: (created by author) The graph depicts the booking rate of the two hotels selected for comparison. The booking rate of Trump International Waikiki hotel for the month of September is $ 438 and the booking rate for the hotel Waikiki Parc is $ 479. When the booking rate for another time that is a week after the booking rate on mid of September is considered, it can be seen from the graphs that the rate has remain unchanged. The booking rate for both the hotels are not changing during the period of analysis is that there were many ongoing festivals and sporting events in Hawaii. The hotels experience peak demand during this particular time and therefore the managements of the hotels does not change the price of booking. The price of both the hotels for the given period of analysis remains unchanged (Sisson Adams, 2013). Comparison of Trump International Waikiki Hotels with the Websites: Source: (created by author) The graph shows the comparison of Trump international Waikiki hotel with the two websites that is Wotif and Agoda. It can be seen that the booking price of hotel is less than the websites. The booking rate of Trump international Waikiki hotel is $ 479 as compared to the Wotif for which the booking rate is $ 525. The price of Agoda stands at $ 515 against the booking rate of the hotel. The rate of websites for booking the hotel is more than the rate of the hotel because the bookings are done in advanced and this provides with the facility to avoid the booking in hustle. However, the booking rate of Agoda is lower than the Wotif. The booking rate for all the websites and the hotel is not fluctuating during the given time of analysis (Wood Wood, 2013). Comparison of Waikiki Parc Hotel With the Websites: Source: (created by author) The above graph depicts the comparison of the booking rates of Waikiki hotel with the hotel booking such as websites Anoda and Wotif. The booking rate of hotel Waikiki Parc stands at $ 495 during the mid September. The booking rate of hotel via the website Wotif is $ 535 and the booking rate for the website Anoda is $ 525. It can be seen that the booking rate of hotel is lower than those booked using the websites. However, the rate of booking thorough website Wotif is higher than the rate from the hotel-booking website Agoda. The booking rate of Waikiki hotel is lower than both the websites provided here. Therefore, it can be concluded that the on arrival rate of hotels are less that the booking done via the websites. However, it does not give the assurance of the availability of the rooms on the arrival date. There is no guarantee that the request would be granted (Weber Dennison, 2014). The price of booking rate hotels using the websites and on arrival during the period of analysis is remaining same. The reason that there is no fluctuation in the booking rate of hotels is that September is the period of festival and happening of the sports events in Hawaii and during this time, the hotel experiences huge demands and it is attributable to the fact that the rate remains unchanged. The demand of the rooms of the hotels rises and the price does not change experiencing the huge and stable demand (Buhalis Crotts, 2013). The reservation of the hotel prior to the arrival is done using the online booking sites such as Aroda and Wotif might leads to increase in the cost. The booking through websites would guarantee the best price to the customers. Booking the hotels room using the websites of Agoda comes with the advantage of booking that the customers can book the same room at the lower price for the same dates that is bookable on other websites. The booking done prior to the arrival comes with many advantages (Samidjen et al., 2013). Recommendation and Conclusion: For hotel Trump International Waikiki hotel, the booking that is done prior to arrival using the online booking websites Aroda would be more beneficial to the customers. This is so because the rate of booking the hotel rooms is less expensive than the booking done via Wotif. For the booking of hotel Waikiki Parc hotel, the booking done through the website Anoda is recommended as the booking rate of the hotel using this website is lower than the Website of Wotif. When the two hotel booking websites are considered, then the rate of booking done through the Anoda is lower than the booking done through Wotif. On the basis of finding and analysis, it is recommended to make the booking of the hotels should be done via the hotel booking website of Anoda. The reason behind this is that the booking rate of Anoda is lower than the booking done through Wotif. The recommended hotel to the customers would be Trump international Waikiki hotel and the reason for selection would be the booking rate. The booking rate of Trump International Waikiki hotel is lower than the Waikiki Parc hotel. Therefore, the booking of the hotel Trump international Waikiki would be done through the website Agoda. Reference: Brotherton, B. (2013). Hospitality and hospitality.In Search of Hospitality. Buhalis, D., Crotts, J. (2013).Global alliances in tourism and hospitality management. Routledge. Kozak, M., Kozak, N. (Eds.). (2016).Tourism and Hospitality Management. Emerald Group Publishing. Line, N. D., Runyan, R. C. (2012). Hospitality marketing research: Recent trends and future directions.International Journal of Hospitality Management,31(2), 477-488. O'Halloran, R. M. (2014). Key Concepts in Hospitality Management.International Journal of Contemporary Hospitality Management. Samidjen, M., Chen, Y. F., de Pablos, P. O., Tennyson, R. D., Zhao, J. (2013). Global Hospitality and Tourism Management Technologies.International Journal of Information Systems in the Service Sector,5(3), 85-87. Sisson, L. G., Adams, A. R. (2013). Essential hospitality management competencies: The importance of soft skills.Journal of Hospitality Tourism Education,25(3), 131-145. Van der Wagen, L., Goonetilleke, A. (2015).Hospitality Management, Strategy and Operations. Pearson Higher Education AU. Waikiki Parc, a boutique Hawaii hotel with an exceptional location. (2016).Waikikiparc.com. Retrieved 26 October 2016, from https://www.waikikiparc.com/ WaikikiTM, T. (2016).Waikiki Hotels | Trump International Hotel Waikiki | Hotels in Waikiki.Trumphotels.com. Retrieved 26 October 2016, from https://www.trumphotels.com/waikiki Walker, J. R. (2016).Introduction to hospitality. Pearson. Walker, J. R., Walker, J. T. (2012).Introduction to hospitality management. Pearson Higher Ed. Weber, M. R., Dennison, D. F. (2014).Strategic Hospitality Human Resources Management. Pearson Higher Ed. Wood, R. C., Wood, R. C. (2013). Hospitality management education.Key concepts in hospitality management, 144-149.
Tuesday, May 5, 2020
Question: Discuss about theContract Law for Consideration and Legal Intention. Answer: Keith A. Rowleys article, You Asked for it, You Got it Toy Yoda: Practical Jokes, Prizes and Contract Law This article discusses about the assent, contractual intent and consideration issues that are involved in offers or acceptances that are made jokingly or in jest, contests, reward offers and other related topics. This article further talk about the essential factors that form a valid contract, such as offer, acceptance, consideration, legal intention to be bound by the contract and legal capacity to enter into a contract. The broad theories of contract have been stating that the law regulating the formation of contract is objective in nature although there are certain subjective elements. A person acts in reliance only after comprehending that someone has made a commitment. It is the appearance of intention that matters the most and while it often refers to mutual assent, it takes place through performing or promising and an act of promising is defined as a manifestation of a commitment. The author discusses the case explicitly to explain the objective manifestation of assent test to safeguard the rights of the parties against persons who breaches the contractual terms on the ground that the agreement was made in jest. In the given case, the arguments regarding whether the contract formed between Berry and Blaire was legally binding involves two essential questions. Firstly, whether the statement made by Blaire was in jest such that it cannot be considered as acceptable by Berrys performance. Secondly, whether the statement made by Blaire amounted to a valid offer to form a contract that is acceptable on Berrys performance, even if such statement was not made in jest. In regards to the first question whether any agreement made in jest can be considered as binding contract, the legal principle has been explained in Lucy v Zehmer . The objective theory of assent was applied by the court in this case. The defendant attempted to exempt from his contractual liabilities on the ground that he was joking while the agreement was made or that he did not have any legal intention to fulfill the promise he made to the plaintiff. The Supreme Court of Virginia held that if the words and conduct of a person is construed by a reasonable standard, it manifests an intention to agree irrespective of the fact whether such conduct or words were merely a state of mind. Therefore, under such circumstances, a person cannot state that he was joking or jesting while the agreement was made. If the words or the conduct of the person is such that any prudent person would believe that, such person had legal intention to bind the contract agreement. In the Lucys case, it was held as immaterial whether the writing that the defendant signed was the outcome of the serious offer that was made by Lucy and accepted by the defendant or whether such offer and acceptance between the parties was held in jest. Under either circumstance, it amounted to a binding sale contract between the parties. Further, in Mullen v Christiansen [Alaska 1982], the court held that a party who averts his/her contractual obligations, which otherwise is considered as a valid contract, shall bear the onus of proof that the parties did not have any legal intention to form a valid contract, despite the presence of objective manifestations of assent. The fact that there were differences that arose subsequently between the parties to the contract cannot be considered as sufficient evidence to establish validity of the original contract. Furthermore, the self-serving testimony of the parties to the contract with respect to their subjective intentions is not sufficient evidence to establish whether the parties have entered into the contract. In Berrys case, in regards to the first formation issue whether the statement made by Blaire was in jest such that it cannot be considered as acceptable by Berrys performance, it can be stated that Berrys performance makes it clear that the statement made by Berry did amount to formation of a contract. This is evident from the fact when Blair stated the winner should receive a new Toyota. As the contest advanced, Blair told Berry that he is not sure whether the contest winner would receive a Toyota truck, van or car, but she would have to pay registration fees on the vehicle. Any prudent person would have comprehended from the statement made by Blair that is was not made in jest and was a contract. He further blindfolded Berry and led her to the parking lot of the restaurant, which signifies that she was to be rewarded with the alleged Toyota Car. Therefore, his conducts as well as his words establishes the fact that it manifests an intention to agree irrespective of the fact whet her such conduct or words were merely a state of mind. Furthermore, any prudent person would believe that, Blair had legal intention to bind the contract agreement from his conduct and words. In regards to the second issue whether the statement made by Blaire amounted to a valid offer to form a contract that is acceptable on Berrys performance, even if such statement was not made in jest, the court found similarity between the nature of offer made in the Carlill v Carbolic Smoke Ball Co. . In Carlill, the defendant offered a 100 reward to anyone who contacted influenza despite using the flu treatment as per direction of the plaintiff. The offer made was held valid by the court as Carbolic made a valid offer that any person who uses the treatment as directed but still catches cold shall be rewarded and that Carlill had accepted such offer that makes it eligible to receive the rewards. The escrow deposit mentioned and made by Carbolic is the evidence of the sincere intention of the parties to the contract. The validity of the offer cannot be avoided on the ground that the reward was offered to any person who chose to accept the offer of using the smoke ball as per instructions. The court further stated that the acceptance made by Carlill could not be defeated on the ground that she failed to acknowledge Carbolic that she has an intention to use the advertised treatment for two weeks as intended. Carbolic made a continuing offer that could have only be accepted by using the smoke ball as per its instructions. Furthermore, the only notice that was required to be sent to Carbolic was the notice in case, the advertised treatment failed to work as per instructions. Courts have opined that valid offers for unilateral contracts in reward offers and in prizes do not necessitates the offeree to establish that the offeror was at fault, but by merely performing certain act that the offeree was otherwise not obligated to perform, it establishes that the offeror was wrong. In Las Vegas Hacienda, 359 P.2d at 86, the Nevada Supreme Court held that any offer made by one party to provide specified compensation on performing a certain act as a proposition to all persons who accepts such offer and comply with its conditions, shall be considered as a promise made by the offeror. The performance of such act forms the consideration for such promise, which leads to the formation of contract enforceable at law. Further, to determine whether employer-initiated prizes amounts to enforceable contracts when the employees are already obliged to work on behalf of the employees, it is important to decide whether the obligation is pre-existing or an additional requirement not imposed by law previously. In the event, the contract requires an additional obligation to be performed by the employees, especially, when the law did not impose such obligation previously, such contract shall sustain by consideration and held valid. Offers made in unilateral contracts becomes legally binding upon the offering employer if an employee commences to perform the conditions of the offer in reliance of such offer. Under the given facts of the case, the Hooters contest was not a simple drawing for winning the Toyota. Berry had to sell most of the beer at her restaurant for qualifying to win the Toyota. This was necessary for her to stay employed at Hooters, which was optional for her not to do; hence, she was encouraged to put in additional effort to get herself into the drawing to win Toyota, thus, amounting to consideration that is important to form a valid contract. Therefore, from the above discussions, it can be held that the contract entered between Blair and Berry was valid and enforceable. In unilateral contacts, an offer and acceptance is valid when the offeree relies on such offer and performs the conditions of the offer. As stated above, valid offers for unilateral contracts in reward offers and in prizes do not necessitates the offeree to establish that the offeror was at fault, but performance of certain act that the offeree was otherwise not obligated to perform, establishes that the offeror was wrong. Further, the fact that she had to sell most of the beers would get her into the drawings to win a Toyota, which were not her pre-existing obligations. Hence, this amounts to consideration that further renders the contract valid. When the conduct or words of a person is construed by any prudent person that the party has legal intention to be bound by the contract, it manifests an intention to agree irrespective of the fact whether su ch conduct or words were merely a state of mind. Thus, the contract was not made in jest and was enforceable in the court of law. Reference list Berry v Gulf Coast Wings Inc Caranta, Roberto. "Remedies in EU Public Contract Law: The Proceduralisation of EU Public Procurement Legislation."Review of European Administrative Law8.1 (2015): 75-98. Carlill v Carbolic Smoke Ball Co.  1 QB 256 Frazier, Adrian. "Irish Acting in the Early Twentieth Century."The Oxford Handbook of Modern Irish Theatre. 2016. Fried, Charles.Contract as promise: A theory of contractual obligation. Oxford University Press, USA, 2015. Las Vegas Hacienda, 359 P.2d at 86 Lucy v Zehmer  84 S.E.2d 516 MacQueen, Hector Lewis. "Illegality and Immorality in Contracts: Towards European Principles." (2014). McKendrick, Ewan.Contract law: text, cases, and materials. Oxford University Press (UK), 2014. Mullen v Christiansen [Alaska 1982] 642 P.2d 1345, 1350 Poole, Jill.Textbook on contract law. Oxford University Press, 2016. Veasey, E. Norman, and Jane M. Simon. "The Conundrum of When Delaware Contract Law Will Allow Evidence Outside the Contract's" Four Corners" in Construing an Unambiguous Contractual Provision."Business Lawyer72.4 (2017).