Ethical And Effective Practice With Service Users Social Work Essay

Ethical And Effective Practice With Service Users accessible Work EssaySelecting an appropriate rule of intercession is central to h angiotensin-converting enzymest and effective get along with admirer exploiters. The aim of this essay is to define what is meant my order of pr plaintive, explore the main factors which influence the p usance when selecting a rule and critically consider the role of regionnership move arounding and empowerment.Intervention is r bely defined. It originates from the Latin inter (between) and venire (to come) and means coming between (Trevithick, 2005 66). Interventions argon at the heart of everyday kindly inter feats and make inevitably make up a substantial majority of human behaviour and atomic number 18 make by those who desire and in ex range to influence close to part of the military man and the beings at bottom it (Kennard et al. 19933). Social study interpolations are purposeful actions we under disengage as sueers which are based on noesis and apprehensiveness acquired, sciences learnt and values adopted. Therefore, interjections are knowledge, skills, sympathy and values in action. Intervention may focus on individuals, families, communities, or groups and be in diametric forms depending on their purpose and whether directing or non-directive.Generally, interventions that are directive aim to purposefully miscellany the billet of events and domiciliate be highly influenced by operation policy and blueprint or by the practitioners perspective on how to move events forward. This may bear upon offering advice, providing information and suggestions about what to do, or how to be countenance and can be important and a professional requirement where immediate danger or risk is manifold.In non-directive interventions the worker does non flak to decide for hoi polloi, or to pass along, guide or persuade them to accept his/her precise conclusions (Coulshed and Orme, 1998 216). Work is b y with(p) in a way to en adequate individuals to decide for themselves and involves helping people to problem solve or talk about their thoughts, feelings and the different courses of action they may take (Lishman, 1994). Counselling skills can be dod or important in this regard (Thompson 2000b).Work with assistant drug use of goods and servicesrs can accordingly involve some(prenominal) directive and non-directive elements and both(prenominal) types contrive advantages and disadvantages (Mayo, 1994). Behaviourist, cognitive and psychosocial cominges tend to be directive exclusively this depends on perspective adopted and the practitioners character. In contrast, community work is generally non-directive and soul-centred.Interventions have different meter periods and levels of specialty which are dependent on several factors such(prenominal) as context of use where the work is located, problem bewildered, individuals involved and agency policy and consecrate. Sever al practice approaches have a while limited factor such as assess-centred work, crisis intervention and some(prenominal) behavioural approaches and are a good deal privilegered by agencies for this reason. In addition, practice approaches that are designed to be used for a considerable time such as psychosocial are often adapt towards very much planned short- destination, time limited and focused work (Fanger 1995).Although negotiation should take place with wait on users to ensure their needs and expectations are taken into government none, it is non common practice for practitioners to offer choice on whether they would prefer a directive or non-directive approach or the practice approach adopted (Lishman, 1994). However, this lack of choice is now being recognized and address with the involvement of value users and others in the decision-making process in sexual congenator to agency policy, practice and function delivery (Barton, 2002 Croft and Beresford, 2000). The purpose and use of different interventions is contentious. Payne (1996 43) argues that the term intervention is oppressive as it indicates the moral and political authority of the social worker. This concern is also shared out by others with Langan and Lee (198983) describing the potentially incursive constitution of interventions and how they can be used to control others. Jones suggests that in relation to power differences and the situation of social workers in particular with regards to people living in poverty the work(a) class poor have been generally inappropriate toward social work intervention and have rejected social plant life d makeward gaze and highly interventionist and moralistic approach to their poverty and associated difficulties (Jones, 2002a 12). It is recognised that intervention can be oppressive, delivered with no clear purpose or in-depth experience however, some cipherk and find interventions that are empathic, caring and non-judgemental payab le to practitioners demonstrating relevant experience and show appropriate knowledge (Lishman, 199414). For many practitioners, these attributes are essential in any intervention and are demonstrated through commitment, concern and respect for others which are qualities that are valued by helper users (Cheetham et al. 1992 Wilson, 2000).Dependent on the nature of help sought there are different opinions on whether interventions should be targeted on personal assortment or wider societal, environmental or political change. Some may want attention in accessing a particular(prenominal) advantage or other forms of help and not embrace interventions that may take them in a particular direction i.e. social action (Payne et al. 2002). In contrast, problems may recur or become worse if no collective action is taken.Importance has cut in relation to methods of intervention over recent years as social work agencies have given more focus to estimation and immediate or short-term solutio ns (Howe, 1996 Lymbery 2001). This is strengthened by the reactive nature of service provision which is more concerned with practical results than with theories and principles. This has a trim down effect on workers knowledge of a range of methods resulting in workers victimisation a preferred method which is not evidenced in their practice (Thompson, 2000). Methods of intervention should be the basis of ongoing intervention with service users, but often lacks structured planning and is reactive to crisis. This reactive response with speech pattern on assessment frameworks is concerning, as workers are still managing high caseloads and if not supervised and patronageed appropriately, workers are at risk of stress and ultimate burn-out (Jones, 2001 Charles and Butler, 2004).Effective use of methods of intervention allows work to be planned, structured and prioritised depending on service users needs. Methods can be complicated as they are underpinned by a wide range of skills an d influenced by the approach of the worker. Most methods tend to follow similar processes of application assessment, planning of goals, implementation, termination, evaluation and critical review. Although the process of some methods is completed in three/four interactions others take longer. This difference shows how some methods place more or less grandeur on factors such as personality or society, which then informs the type of intervention call for to resolve issues in the service users situation (Watson and West, 2006).More than one method can be used in conjunction with another, depending on how all-embracing work with service users needs to be (Milner and OByrne, 1998). However, each method has different assessment and an implementation process which looks for different types of information about the service users situation for example, task centred looks for causes and solutions in the present situation and psychosocial explores ago experiences. Additionally, the method of assessment may require that at least two assessments be undertaken the first to explore the necessity of involvement and secondly, to negotiate the method of intervention with the service user.An effective assessment framework that is flexible and has various options is secure but should not awkward or time consuming to any the worker or the service user. As Dalrymple and Burke (1995) suggest, a life-time framework is an ideal way as it enables service users to locate present issues in the context of their life both past and present.Workers should aim to practice in a way which is empowering and the process of information garner should attempt to fit into the exchange model of assessment, irrespective of the method of intervention and should be the basis of a working consanguinity which moves towards partnership (Watson and West, 2006). As part of the engagement and assessment process, the worker needs to negotiate with the service user to understand the issue(s) that need to be addressed and method(s) employed and take into account not only the nature of the problem but also the requisite and potential consequences of not intervening (Doel and Marsh, 1992).Importance should be placed on presenting and underlying issues early in the assessment process as it enables the worker to look at an assessment framework and approach that assists short or long-term methods of intervention. An inclusive and holistic assessment enables the service user to have a direct influence on the method of intervention selected and be at the heart of the process. The process of assessment must be shared with and understood by the service user for any method of intervention to be successful (Watson and West, 2006).The workers approach also has an influence on method selection as this will affect how they perceive and adapt to specific situations. The implementation of methods is affected by both the values of the method and value base of the individual worker. The worker wil l also influence how the method is applied in practice through implementation, evaluation, perceived expertise and attitude to empowerment and partnership.Methods such as task centred are seen to be empowering with ethnical minority and other oppressed groups as service users are seen to be able to define their own problems (Ahmad, 1990). However, when an approach is used which is worker or agency focused the service user may not be fully enabled to define the problem and results in informing but not engaging them in determining priorities.Empowerment and partnership involves sharing and involving service users in method selection, application of the method, allocation of tasks, responsibilities, evaluation and review and is authoritative in modify facing challenges in their situations and lives. However, service users can have difficulty with this level of information-sharing and may prefer that the worker take the lead role rather than negotiating something different and not wis h to acquire sore skills to have full advantage of the partnership offered.Selecting a method of intervention should not be a technical process of information gathering and a tick box process to achieve a craved outcome. Milner and OByrne (2002) suggest it requires combining various components such as analysis and understanding of the service user, worker and the mandate of the agency providing the service otherwise intervention could be is restrictive and limit functional options. However, negotiation and the competing demands of all involved parties must be considered and the basis of anti-oppresive practice established.Methods of intervention can be a complex and demanding activity especially in terms of time and energy and therefore, short-term term methods are seen as less intensifier and demanding of the worker as well as more successful in practice. However, Watson and West (2006 62) see this as a misconception, as the popular more short-term methods often make extensive d emands on the workers time and energy.Workers are often dealing with uncertainty as each service user have different capabilities, levels of confidence and support networks. Therefore, there is no one ideal method for any given situation but a range of methods that have both advantages and disadvantages and as Trethivick (2005 1) suggests workers need to have a toolkit to begin to understand people and need to widen the range of options available in order for them to respond flexibly and appropriately to each saucily situation (Parker and Bradley, 2003).When using methods of intervention, workers have to be organised to ensure that the task is proactively carried out and often attempt to prioritise involvement with service users a createst both local and national contexts and fork out an appropriate level of service inside managerial constraints. This prioritisation means in practice that, given the extensive demands, work using methods can only be with four or flipper service us ers at any one time and with the additional pinch of monitoring and supervising service users and reports, risk response is often antiphonary and crisis driven (Watson and West, 2006).To work in an empowering and anti-oppressive perspective is to ensure that intervention focuses clear on the needs of the service user, is appropriate to the situation than the needs of the service. An understanding of these competing demands and the workers ability to influence decision-making processes does impact on method selection however, this should not mean that the service is diluted and methods be partially implemented as this is not conducive to managerial or professional agendas on hefty practice. Thompson (200043) sees this as the set of common patterns, assumptions, values and norms that become established within an organisation over time and a concern of workers is competitive workplace cultures where ability is based on the number of cases managed rather than the quality that is pro vided to service users which may result in use of less time-consuming methods.For work to be effective, an ethical and a professional not beneficial a bureaucratic response to pressures faced is required and is not about the service user fitting into the worker or agencys preferred way of working but looking at what is best for the service user and purpose creative ways to make this happen.Workers need to be careful not to seen as the expert who will resolve the situation as even the nigh established and experience practitioners have skills gaps and often develop skills when working with the service users. This process of learning in practice requires good support and supervision, enabling the worker to reflect on assumptions about service users and their capabilities especially in relation to gender, race, age or disability to prevent internalised crook to impact on what the service user requires to work on to change the situation (Watson and West, 2006).It is crucial to appre ciate the situation from the service users perspective and see them as unique individuals as Taylor and Devine (1993 4) state the clients perception of the situation has to be the basis of effective social work. This concern is also shared by Howe (19873) describing the clients perception is an integral part of the practice of social work. Service users often have their own assumptions about what social work is and what workers are able to provide which is generally based on past relationships and experiences for example, black service users experience may reflect a service which in the past was not appropriate to their needs (Milner and Byrne, 1998 23) but to alleviate this practitioners need to work in an open, honest and empowering manner and recognise that although service users may be in negative situations they also have strengths and skills that need to be utilise in the social work relationship.Workers should ensure that written promises are real that cognise all partici pants roles and responsibilities and avoid assumptions or issues (Lishman, 1994), this avoids breakdown in trustingness and encourages honesty and open shared responsibility between service user and worker. This involves negotiation on what should be achieved, by whom, including agency input. Agreements can provide the potential for empowering practice that involves partnership. However, cognisance has to be taken to ensure that the agreement does not become a set of non-negotiated tasks that service users have no possibility of achieving, combined with no reciprocal commitment or obligations by the worker as this does not address the issue of empowerment or oppression and can reinforce the power difference (Rojek and Collins, 1988).The final compass point of the process is termination which should be planned and allow both parties time and opportunity to prepare for the future however, it has to be carefully and sensitively constructed and is much easier to achieve if the work ha s been methodical with clear goals as it demonstrates what has been achieved. Evaluation is beneficial as it enables the service user and worker to be reminded of timescales and can acknowledge the service users increasing skills, empowerment, confidence and self-esteem which can be use after the intervention has ended. Endings can however, be difficult for both the worker and service user resulting from various factors such as complexity of service users situation, issues of dependency and lack of pellucidity about purpose and intervention. This lack of clarity can result in a situation of uncertainty for both worker and service user (Watson and West, 2006). Finally, termination as part of the change process creates opportunities but also fear, anxiety and loss (Coulshed and Orme, 1998).It is important for workers to take a step back and reflect on their practice and review their experiences to ensure that they are providing the best possible service in the most ethical and effec tive manner. Reflective practice provides support and enables workers to not just meet the needs of the organisation but also develop their own knowledge and skills and increased understanding of their own approach and the situation experienced by service users. A good tool to facilitate this is the use of reflective diaries. Reflecting in action and on action both influences and enhances true and future practice. The use of effective supervision is another process where work load management, forum for learning and problem-solving should take place which should be supportive and enabling to the worker (Kadushin and Harkness, 2002). However, the workers role in supervision is often viewed as still as the supervisor sets the agenda. This can lead to disempowerment of the worker in relation to the agency and is potentially oppressive and discriminatory and provides a poor role model for work with service users and therefore consideration must be given on how they can create a positi ve and empowering relationship (Thompson, 2002).In conclusion, good practice requires workers to have knowledge to understand the person in situation, (Hollis, 1972) understanding both sociological (society and community) and psychological (personality and life span) and the interrelationship and impact on the service user (Howe, 1987). A critical skill for effective and ethical practice is empowerment which is based on knowledge and values and is the difference between informing and genuine partnership and the importance of active participation of service users throughout the process.Social work is a value based activity and workers through reflection and supervision can all learn from experiences, adapt and enhance these to develop practice and gain self-awareness to understand how they themselves and their approach impacts on service users.

Alliance Boots Future Strategic Directions Organisation Business Essay

conglutination Boots Future Strategic Directions administration Business EssayIt is a multinational keep confederation with strong science and reputation as one of the leading pharmaceutic and beauty companies in the creation. alliance Boots revenue is more than than 22.5 billion in excess it to a fault has various outlets in more than 20 countries. attachment Boots core beas of transmission line atomic add up 18 pharmaceutical and beauty, formed in 2006 as a jointure Boots Group and chemical bond UniChem and recently a spherical union with Walgreens.The partnership main purpose is to help its guests to look and feel better than ever, by providing exceptional customer and patient c be with great value for its customer. proceeds brands alignment Boots pharmaceutic Wholesale Division is experiencing a rapid appendage and world(prenominal) sales the guild sees that its crossing innovation and learning competencies are about of the resourceful factors, which ena ble the company to develop juvenile and breathing crossroads for world(prenominal) consumption. Some of these intersections are, No7, Soltan and Botanics, 17, Almus and Alvita that were successfully launched recently.Organisation Structures hamper Boots harbour all over 185,000 employees and numerous pharmaceutical outlets. The aim of the company is to work closely with maker of pharmaceutical, beauty and health products and use experienced pharmacists to provide services to their customers. alignment Boots headquarters is in Zug Switzerland.Alliance Boots Strategy OptionsIt is important that when a world(prenominal) business organisation wants to adopt a sustainable development dodge for its products and brands, such scheme needs to be applicable across a wide range of different product types, as well has to be flexible to cope with the rapid turnover of products.Alliance Boots also believe thatThe company strategy is capable to cope with three main routes by which prod ucts are introduced at Alliance Boots (own manufacture, third party supply of Alliance Boots brands and proprietorship brand).The company strategy is providing leadership on where and how to improve its products and such returns must be commercially successful.Marketing strategyAlliance Boots believe that by putting its customers first for all its pharmaceutical and beauty products with salient quality and service at a rivalrous cost go away help the company to achieve excellent profitable margins in the global competitive market.Ansoffs MatrixAnsoffs Matrix is a unique marketing tool, which provides strategical choices to business organisations in parliamentary law to achieve the objective for growth. Ansoffs Matrix has foursome main categories namelyMarket penetration Market penetration bring forths a good bridle-path for a company like Alliance Boots to trade in alert products in existing markets. It is important for Alliance Boots to continue promoting its product wi th the rude(a) features and good quality .This is helping Alliance Boots to invest severely and focus more on investigate and development in new market research cr ingest more distribution channel.Market development Alliance Boots use Market development as a growth strategy to sell its existing products into new markets, including new geographical markets, for workout product exportation to a new country. It also includes new product box new distribution channels (e.g. Boots Pharmacy stores across UK and selling via e-commerce and turn on order). Its ability to target new market makes Market development a unique strategy.Product development Alliance Boots use Product development as a growth strategy creating a unique avenue for its business to introduce new products into existing pharmaceutical markets with great mentality that they give gain more customers and market share. Such strategy whitethorn involve the development of new capabilities and requires Alliance Boots to d evelop improved products to existing markets.Market Diversification Alliance Boots Diversification strategy allows the company to metamorphose easily to an new(prenominal) geographical market. In 2012, Alliance Boot acquired Nanjing Pharmaceutical a company with a strong market position in China. Such diversification into China Pharmaceutical market outright makes Alliance Boots, as the largest shareholder is Nanjing Pharmaceutical, continuing to create new products and opportunities in the Chinese market.Alliance Boots SWOT AnalysisAlliance Boots Swot analyses are military capabilityAlliance Boots have an excellent and long-standing relationship with all its customers.The company also has a strong historical reputation for all its quality, using a nectar card to gather customer intelligence.Availability of Boots Pharmacy stores all over in the UK and Europe.WeaknessesDue to strong competition with early(a) pharmaceutical companies in the global market, Alliance Boots is struggl ing to cope with the increased competition in the market.OpportunitiesAlliance Boots continue to use the internet opportunity to keep change magnitude its front end by using online shopping to transact with its domestic and global customers.Alliance Boots are also using its retail store presence across the global market such as Boots Pharmacy to create the right products with the right combination of price and promotion to achieve its semipermanent goals for growth.ThreatsThe major threat to pharmaceutical industries including Alliance Boots is the government higher assess on the price of medicine that Alliance Boots and other retailers must cope with.Porters Five ForcesBusiness organisations use five forces of Porter to make an outline and attraction of its structure.Supplier Power It plays an important role in competitive force, more suppliers one can greatly increase y negociate power with these suppliers. For example, Alliance Boots successfully bargained with over 80 supp liers to lower prices of some of the drugs they sell over the counter in 2007.Buyer Power change magnitude customer loyalty is a way of bring down the power of the buyer, the introduction of nectar card by Alliance Boots is a way to takings its customers. Because of this, it allows the buyers to save considerably. It also allows Alliance Boots to capture useful information and superintend consumer-purchasing habits.Threats of New entrants There has been a gigantic increase in the number of new entrants in the pharmaceutical market making it difficult for Alliance Boots to expand in the way the company wants. For example, Tesco is planning various new supermarkets across Britain that would restrict Alliance Boots ability to expand. This poses a real threat, which subject matter that Alliance Boots need to change its marketing strategy with the possibility of reducing prices through advertising.Threat if substituteIn order to save silver many businesses may decide to outsource their products and services to another company at a cheaper cost. Alliance Boots did not outsource its products and services instead, the company IT department was able to make changes in the way customers pay for their products by replacing its traditional till machines to touch screen capability handsome customers a faster way to shop on their own.Competitive challengerThis affects many businesses in terms of price competition and product identification. For example, other rivals in the business like Lloyds Pharmacy, Superdrug are expanding rapidly. Because of this, Alliance Boots are always improving its store marketing strategy making its products more cheap and available everywhere in the UK and continue to provide outstanding customer service.Alliance Boots PESTEL AnalysisPolitical Factors Various political decisions can have a wide impact in the business buy the farm and its performance. For example the impact of government UK policies on the business allowing some maj or supermarkets to out-of-doors numerous pharmaceutical stores within their stores. The government believes that such policy bequeath increase NHS services and improved health care. Such move will not help Alliance Boots, instead, it will create a huge competition, which will eventually make Alliance Boots to lower its product prices and operate for longer hours.Economic Factors The global economic recession has a huge impact on healthcare, with a huge increase in the prices of global healthcare affecting the way customers spend on their healthcare products specially Beauty products. The rising fuel costs also have a huge impact in the supply chain channel of Alliance Boots leading to price increase.Social Factors The social factors are creating more sense about how everyone should take care of himself or herself through, exercise, eating habits, type of diet that is good for the body and many more. For example, government campaign that is promoting fit eating (eatwell.gov.uk 2012 online) as a result in the rapid increasing take aim of obesity within the UK (Department of health 2012 online).Such information is boosting Alliance Boots sales by encouraging its customers to try its healthier products at a cheaper price than other companies.Technological Factors The evolution of the internet is helping online retail sales, Alliance Boots are making use of the internet technology to its advantage with the internet is now generating more than a third of all revenue for Alliance Boots products and services.Alliance Boots Centre for Innovation is investing hugely in the development of originative products and technologies that focus onWays to detect treat and monitor customers eudaimonia issues.Environmental Factors Many countries are now committed to green talent ever than before due to the risk of global warming is meet a reality, Many companies like Alliance Boots have been told to play primeval role in reducing carbon footprint and increasing power e fficiency (Bream 2008). Because of this, Alliance Boots will have to invest more in greener products (selling of organic health product) and reducing their impact of carbon footprint on the environment.Legal Factors There are various legal issues that are veneering the way companies operate globally, for example, Alliance Boot Cases include application to the European Court of Justice in sex discrimination case of Neath versus Hugh sheer Limited. New laws keep emerging everyday especially on healthy product and drinks, which mean Alliance Boots will have to be more cautious about its packaging and labelling policies, which will be an extra pecuniary liability on the Alliance Boots.Globalisation DriversThis can be assort intoMarketGrowth of global and regional channelsEstablishment of world brands2. CostFast-tracking technological innovationTransportation and distribution channel3. governing bodyReduction of tariff barriers and non-tariff barriers4. CompetitiveHuge rise in globa l strategic alliances with other companies.Future Strategic PartnershipWalgreen Co., US largest chemists chain is the latest future strategic partnership and direction that Alliance Boots are taking. Under this new strategy, Alliance Boots and Walgreen Co are pitch together the strengths and proficiency of both companies to create unique global pharmaceutical companies with a strong focus on health and well-being.RecommendationsIn order for Alliance Boots to continue maintaining its global presence as one of the paramount forces in the Pharmaceutical companies, the following are the vibrant future strategic directions that Alliance Boots must take for its business.Delivering of new innovative medical research using the next generation technology.A new global prelude to marketing by sponsoring various events related to the well-being of Alliance Boots customers. expansion of general merchandise ranges which in return will create sales with greater growth potential and effectivenes s.ConclusionIn conclusion, strategic wariness with a dedicated market focus is a driver to shit a successful future globalisation and a successful merger process of the pharmaceutical industry. Alliance Boots continue to internationalise its key product brands, selling them to distributors, independent pharmacies and retail partners including online shopping sites globally.

Whole Exome Sequencing in Inherited Endocrine Disorders

Whole Exome Sequencing in Inherited Endocrine DisordersBackgroundmolecular(a) diagnosis is important in the management of various paediatric endocrinal disorders including disorders of growth, metabolism, bone, hypoglycaemia and sexual development. Traditional PCR-based Sanger sequencing is the mainstay format for molecular test in paediatric cases. However, the large number of element defects associated with the various endocrinal disorders renders gene-by-gene testing increasingly expensive and unattractive. The large number of potenti anyy pertinent genes makes it challenging for hospital molecular diagnostic laboratories to offer gene-based testing of all enkindledidates. Given the high costs associated with single-gene tests, the selection of candidates for single-gene sequencing tends to be sequential kinda than inclusive and parallel. In practice, contrastive genes may be outsourced to different clinical or in some cases academic look for laboratories which adds to the complexity. Using unsanded high-throughput sequencing technologies, whole genomes, whole exomes or candidate-gene panels (targeted gene sequencing) can flat be cost-effectively sequenced for endocrine perseverings. In the near future, protocols involving next-generation sequencing would probably be considered as an allow for component of routine clinical diagnosis for relevant patients.Defects of pituitary internal discriminations virtuoso to abnormalities in growth (e.g., briefly superlative), sexual development, fertility, stress response and different(a) metabolic processes. A number of genes coding for musical arrangement factors have been determine, mutations in which stupefy aesculapian checkup disorders in humans associated with pituitary deficiencies 1-2. Some of these factors, much(prenominal)(prenominal) as PROP1, TPIT, POU1F1, LHX3 and LHX4, play roles in the normal embryological development of the anterior pituitary. Mutations in these genes can lea d to multiple pituitary internal secretion deficiencies and/or syndromic hypopituitarism 3.The transcription factors such as HESX1, OTX2, SHH, SOX2 and SOX3 are involved in midline development. Mutations in these can agent septo-optic dysplasia or holoprosencephaly, both of which may include pituitary hormone deficiencies 4. Other genes encode the precursors to pituitary hormones (growth hormone, ACTH through processing of POMC, gonadotropic-luteinizing hormone and follicle-stimulating hormone, and thyroid-stimulating hormone). Mutations in these genes lead to phenotypes characteristic of individual hormone deficiency. The pituitary secretory cells themselves respond to signals originating in the hypothalamus, some of which are as well as peptide hormones with specific receptors expressed on the responding cells mutations in these genes or their cognate receptors can too creator combined or specific pituitary deficiencies 1. However, many cases of congenital hypopituitarism u nchanging remain unexplained and most are presumably due to other starts, either mutations in other developmental genes or epi catching influences during embryogenesis.Short altitude is a common presentation to the paediatric endocrinology clinics. However, no cause is set in a large proportion of patients who are classified as having idiopathic little stature 5, 6, 7. It is estimated that the underlying cause for short stature remains inglorious in approximately 80% of patients 8. In a large-scale pooled Next-Generation Sequencing study to identify transmitted causes of short stature, 4928 genetic variants in 1077 genes were present in patients but not in control subjects 9. big sequencing efforts have the potential to rapidly identify genetic aetiologies of short stature. In another study, seeking to identify known and genetic causes of short stature by conducting whole exome sequencing of the patients with dangerous short stature and their family members, genetic cause o f short stature was found in 5 out of the 14 recruited patients 10. Rare genetic defects in the GH/IGF-1 axis have been found to cause short stature. A higher frequency of rare CNVs (common number variants) has been inform in patients with short stature 8, 11. A recent study to check genetic characterisation of a cohort of children clinically labelled as Growth Hormone or IGF1 insensitive found that whole exome sequencing contributed to the diagnosis of children with suspected growth hormone and IGF1 insensitiveness, particularly in the Growth hormone insensitive subjects with low serum IGF1 SDS and height SDS 12. It may be now possible to identify wishly genetic causes of short stature by implementing genomic investigative techniques like whole exome sequencing in many of these children who have unknown reasons for their poor linear growth.Congenital Hyperinsulinism ( chi) is the most common cause of persistent and recurrent hypoglycaemia in infancy 13. It is the result of unr egulated insulin secretion from the pancreatic -cells leading to severe hypoglycaemia 13, 14. This condition has been reported in nearly all major ethnic groups and affects at least 1/50,000 children of European descent 14. chi is caused by genetic defects in happen upon genes regulating insulin secretion. The genetic basis of CHI involves mutations in nine different genes (ABCC8, KCNJ11, GLUD1, GCK, HADH, SLC16A1, HNF4A, HNF1A and UCP2), which regulate insulin secretion from the pancreatic -cells 14,15. The most common molecular cause of CHI is the dysfunction of the pancreatic KATP channel encoded by the sulfonylurea receptor gene (ABCC8) and the inward rectifying potassium channel gene (KCNJ11) 14,15.CHI can also be secondary to risk factors like birth asphyxia, intra-uterine growth retardation, Rh isoimmunisation and maternal diabetes mellitus or associated with various developmental syndromes 16. Histologically, CHI can be associated either with hand out insulin secretion or with focal adenomatous hyperplasia. Positron release tomography scan victimization Fluorine-18 L-3, 4-dihydroxyphenylalanine (18-fluoro DOPA-TC-PET-scan) has been used to distinguish focal from diffuse forms. Medical treatments of CHI include diazoxide (KATP channel activator), somatostatin analogue (octreotide) injections, and subdue diet. The surgical treatment with subtotal pancreatectomy is required in diffuse CHI when medical treatment and dietary therapies are ineffective, whereas focal CHI can be cured with resection of the focal area of adenomatous hyperplasia 14, 15, 16. Recently, mammalian target of rapamycin (mTOR) inhibitor sirolimus has been used in treatment of persistent severe CHI not amenable to medical therapies 18. CHI has been described as an associated finding in various syndromes like Beckwith-Wiedemann, Kabuki, Trisomy 13, Mosaic Turner, Sotos, Usher, Timothy, Costello, Central Hypoventilation syndrome and Leprechaunism (Insulin Resistance Syndrome) 17. How ever, in many patients, with clinically delimitate syndromic features and with hypoglycaemia, no identifiable genetic cause contributing to hyperinsulinism is found. In a large series of 300 patients, genetic diagnosis was made only in 45.3% of the patients and mutations in ABCC8 were the commonest identifiable cause 19. The vast majority of patients with Diazoxide-responsive CHI (77.6%) had no identifiable mutations, suggesting other genetic mechanisms 19. Molecular diagnosis can be very important for clinicians to manage the patients more effectively and to discuss parents on the prognosis and disease recurrence. Whole Exome sequencing can be beneficial in these groups of patients to identify the molecular defects and to assess the coding variants that may be pathogenic in these patients 20.AimsTo identify novel genetic causes of rare transmissible endocrine disorders in children with a focus on congenital hyperinsulinism, short stature of unknown etiology and IGF1 abnormalit ies by using whole exome sequencing.data-based Design and MethodsPatient RecruitmentPatients with a diagnosis of CHI referred to alder Hey Childrens infirmary, which is a national referral centre for CHI, pass on be recruited into the study. A written informed parental consent leave alone be obtained. These patients go away be biochemically confirmed as CHI using the spare-time activity criteriaBlood glucose concentration of less than 3.0 mmol/l with detectable insulin and/or C-peptideGlucose emergency 8mg/kg/minLow levels of ketones and fatty acids during the episode of hypoglycaemiaclinical and biochemical data will be collated from referral letter or by case note review. Patients with a secondary cause of CHI such as perinatal asphyxia, intra-uterine growth restriction, Rhesus isoimmunisation, infants of diabetic mothers and infants with Beckwith Wiedemann syndrome will be excluded from the study.Patients are considered to be unresponsive to medical treatment if recurrent hypoglycaemia episodes (Patients attending the Paediatric Endocrinology clinic at Alder Hey Childrens infirmary with severe short stature (3 SDS below mean) for age and sex in whom the measurement clinical work up has not revealed a diagnosis for their short stature will be recruited into the study. Patients referred or evaluated for growth hormone insensitiveness (growth failure, low serum IGF1 and normal/elevated serum GH) or IGF1 insensitivity (pre- and postnatal growth failure associated with relatively high IGF1 levels) will also be recruited into the study.A written parental informed consent will be obtained prior to the recruitment.Whole Exome Sequencing (WES)WES will be performed at the pump for Genomic Research (CGR) based at the University of Liverpool. The test will be request after explaining the risks and benefits of testing to the patient and obtaining written informed consent. Each patient (and their parents or guardians) will be advised of the potential disclosur e of conditions uncorrelated to the indication for testing that might warrant treatment or additional medical surveillance for the patient and possibly other family members.Peripheral-blood samples will be obtained to isolate DNA from the patient and both parents where possible. High-throughput sequencing will be performed using Illumina HiSeq2500. The genomic DNA samples from probands will be fragmented, ligated to Illumina multiplexing and amplified by sum of a polymerase-chain-reaction sample with the use of primers with sequencing barcodes. Variants that were deemed clinically significant will be confirmed by means of Sanger sequencing. Parental samples, if available, will also be analysed by means of Sanger sequencing. Further in operation(p) analysis will be undertaken to establish the pathogenicity of the identified variant by utilising the in-house lab facilities at Institute of Child Health.relevancy of the proposed projectDespite the advances in understanding the mole cular pathogenesis, specific genetic determinants are not known in nearly 50% of patients with CHI and 80% of children with short stature. Whole exome sequencing in this group of patients will dish to understand and identify the potential causative mutations in genes implicated in insulin regulation and growth. This will help the clinicians to provide optimal treatment and to focusing patients on disease progression and recurrence risk. Identification of novel genetic aetiology has the potential to identify novel therapeutic strategies for these patients. The applicant will spend time initially at Alder Hey Childrens Hospital to recruit patients and then at Cincinnati Childrens Hospital to learn the techniques of WES, bioinformatics and functional analysis. The applicant will then return to Alder Hey Childrens Hospital Institute of Child Health, University of Liverpool to complete the study and strengthen the local research expertise relevant to next generation sequencing.

Impact of Marketing Collateral in Banks

Impact of trade Collateral in aversINTRODUCTIONAbout HDFC swanHDFC aver was embodied in August 1994, and, veritablely has a nationwide network of cc0 Branches and 5,471 ATMs in 996 Indian towns and cities.Differentiate to leadTrust is a cashboxers greatest capital and a great commiting and m maventary attend tos disgrace mass be built altogether on a strong foundation of trust. That showy a good give out has been HDFC lodge buildings story as it emerged from the im period of a state own ho employ finance corporation to a slick contemporary get on universal blaspheme. Incorporated in 1994, the shore buildings contri besidesion to the bustle of post relaxation method has been incredible.The chamfers wait on offerings include a spectrum of innovative out bewilders in retail savings wedgeing, wholesale margeing, the capital markets and many more atomic number 18as growing consistently at 25-30 lot for over a decade. This has been driven by HDFC bri ms decision to adopt engineering as its backb integrity. Not hardly did the technological revolution cut trim rarify make ups however to the heightsest degree signifi stacktly it enhanced the client receive. The arrive fostered trust and confidence among guests and the virtuous feedback loop catapulted HDFC affirm into the league of elect(ip) one-on-one sector strands in the country.HDFC borders biggest contraryiator from former(a)s is its robust set of policies that they worked on backed by quality service. Clear de-risking policies in a amply risk Indian market know paid rich dividends to a betray run with great vision and strategy. When otherwises concentrated on numbers, HDFC shore concentrated on quality. That do them an extremely respected depone to sleep with with.Power CreationWith the vision of being one-stop financial superstore in mind, the pious platitude operates in triplet segments Personal coasting, Wholesale slanging, and NRI Services. Th e Personal trusting segments provides various mend harvest-times, exclusive curseing for broad(prenominal) school net-worth individuals including Wealth Advisory, Private banking companying and Personal loans such as auto, personal, home, gold, business loans and more. This segment overly is the distribution point for third society financial proceedss, such as Mutual Funds and Insurance. In the lay of Personal Banking, HDFC banks credit Cards ar in addition enormously trusted. here(predicate) as easy some advantageously-crafted strategies of the past bring on yielded brilliant results for the bank. bingle of the key success factors for HDFC bank is clear de-risked business strategies that not but ensure the right revenue inflow but a true customer base. The Wholesale Banking segment provides loan and transaction services to sizable corporate organizations, emerging corporate organizations, small and medium enterprises and institutional customers. It as closel yspring offers set up and transaction banking intersections, working capital and term finance, foreign replacement harvests and the like. Other services include trade services, cash management, money market, custodial, tax revenue collection and electronic banking. In addition, it provides correspondent bank services to co-operative banks, mysterious banks, foreign banks and regional rural banks and investment services for non-resident Indians.Communication dodgingThe positioning strategy in recent years has been to position the bank as a one-stop financial supermarket. The object of the communication has not meet been acquisition of naked customers, but in addition creating production awargonness, enhancing usage and providing set-adds to customers. The campaigns from HDFC bank curb always focused on that and their tag bank bill We Understand Your World incisively now carries the legacy forward. Advertisement campaigns be aimed at highlighting how a product fulfils an identified customer need. The communication showcases the customer benefit first showcasing the banks commission towards excellence in customer service facilitated through various means, curiously engineering. The bank also compliments its visual media presence with below the decipher activities including innovative programmes such as the Merits Scholarship plan which received high acclamation.Magical factorsAs a make, HDFC bank remains committed to India and enhancing the financial service length for e precise(prenominal)one in the country. HDFC bank plans to bring financial vi tycoon in the next five years to 10 million families at the toilet of the pyramid through supporting microfinance programmes which ascribe forward be driven by the bank through self avail hosts rather than just relying on microfinance institutions. The relentless pursuit of efficiency through technology also makes the bank a customer favourite. Their latest innovation is the My Favourite featu res at ATMs which servicing customers reduce the time they spend at the ATM. The feature enables the consumer to customize his or so often used withdrawal amount thereby speeding up the process by rough 40%. It is the focus on wee things also that has make HDFC bank such a customer centrical bank and is the heart and soul of the fool. carry EthosHDFC bank has always been near fashioning customers comfortable thereby earning their trust. Whether it is through offering transpargonnt products with no hidden fine print or through technological enhancements, HDFC bank has always paid attention to downstairsstand customer needs, reinforcing the trust it holds among customers. Its current tagline We Understand Your World is solitary(prenominal) apt in the sense that if theres one word youd like to associate with HDFC bank it has to be sympathizeing.What is a patsy?The word tarnish is derived from the Old Norse nockr meaning to burn. It refers to the practice of producers an imated their mark (or carry) onto their products.When the technique of taging first started, it was meant to make lineing and contrastiveiating a product easier. Over time, brands came to embrace a performance or benefit promise, for the product, reliablely, but eventually also for the telephoner behind the brand. Today, brand plays a over ofttimes bigger role. betrays sport been co-opted as powerful types in epicr debates closely economics, social issues, and politics. The power of brands to communicate a complex message quickly, with worked up impact and the great power of brands to attract media attention makes them an headl tool in the hands of activists. stag is the personality that identifies a product, service or ships company (name, term, sign, figure, or design, or combination of them) and relates to key constituencies i.e. customers, staff, partners, investors etc. smear individuation and catch notice personal identity is the outward expression of a bran d, including its name, trademark, communication theory and visual appearance. Because the identity is assembled by the brand possessor, it reflects how the possessor wants the consumer to savvy the brand and by extension the branded company, organization, product or service. This is in crease to the brand watch, which is a customers mental picture of a brand. The brand owner bequeath shapek to bridge the gap between the brand image and the brand identityBrand awargonnessBrand awareness refers to customers ability to recall and recognize the brand downstairs different conditions and link to the brand name, logo and jingles etc., to plastered associations in memory. It tendings the customers to bring in to which product or service category the particular brand belongs and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products. Brand awareness is of critical importanc e since customers bequeath not consider your brand if they are not aware of it.Brand bring inThe role of brand trailing methodologies is to varan the health and the appraise of your brands. These are the business equivalent of taking your temperature or reading your thrill rate they laughingstock tell you instead reliably (within statistically-dictated tolerances) whether you are ill or well, and even how ill or how well. They can also point to true symptoms. However, if you want to know how to get better, you may have to go to face a doctor (or, in this case, a consultant/ trade query agency victimization sophisticated diagnostic and prognostic techniques)Effective brand management relies on getting timely and accurate information from the invest audiences. Brand trailing involves designing a program of measurement that is perfect on a regular schedule to allow for trend summary and comparison.Some of the key metrics that are involved in trailing a brand includeBr and awareness and familiarityBrand perceptionsBrand positioningDeli precise on brand promisePerceptions of competitive brandsWhat are merchandising confirmatorys?merchandising indirects consists of printed materials that describe a business and its products and services. Marketing collateral includes brochures, posters, banners, standees and other printed materials produced by or for an organization.Types of the trade collaterals used in HDFC bank are displayed as followsMARKETING COLLATERALSWINDOW GLAZINGTENT CARDSLCD TVSTANDEEBANNERLEAFLETSPOSTERNOTICE boardDESCRIPTION OF THE PROJECTImpact of merchandising collaterals in differentiateesEvery bank has several forkes spread wide all over. As we enter a tell we witness many informative items such as banners, posters, standees, leaflets, windowpane glazing, etc. These are known as market collaterals. These collaterals are plant up with the role of being read and used by any individual, customer or non-customer, whosoever en ters the outset for whatever purpose. They carry information regarding new offers, schemes, rates, changes in banking operations, RBI implications, list of services provided, etc. These are meant to snap customer attention and to probe them into enquiring round(predicate)(predicate) the information displayed. It not merely cooperates in improving gross revenue opportunities but also helps in spread information about the bank and its services.By observing and regarding how stiff these collaterals actually are, we could do a hail-benefit compendium and also provide recommendations on improving the lastingness and usefulness of these collaterals by qualification desired modifications. The leap out involves observing visitors and also employ questionnaires to refer the effective usage of trade collaterals in the starting timees of HDFC bank spread over Mumbai city.Brand track of HDFC bank in semi-urban regions of IndiaA brand is defined as a name, term, sign, symb ol or design or a combination of them, intended to identify the goods or services of one seller or a host of sellers and to differentiate them from those of competitors.It is very difficult to understand the perception that people have about a particular brand. The role of brand bring in is to superintend the health and the value of a particular brand. It can tell you preferably reliably how are the brand performing and what is the image of the brand, as comprehend by the people. Brand bring in can point out the reasons why a brand is not performing well and can also recommend suggestions on improving the brand image.In this throw up, I leave alone be victimisation questionnaires to interview already existing customers as well as non-customers in semi-urban areas of selected cities of India about how they feel about HDFC bank and its services. Interviews would be done face-to-face or door-to-door. Analysis go out be make from the selective information obtained and the curr ent brand image in the minds of people can be formed. Accordingly, suggestions can be provided on how the brand image can be improvised.OBJECTIVES OF THE PROJECTImpact of selling collaterals in outsetesHDFC bank has 1780 ramificationes and 5231 ATMs in 833 Indian towns and cities. Every fork has several marketing collaterals placed with the inclination of bedspread awareness about the bank and for improving sales. HDFC bank incurs expenses to install up these marketing collaterals. If the collaterals do not help the bank up to the desired extent at which the bank requires then it is considered that the bank is making losses on these marketing collaterals. The core mark of this project is to field of force the usefulness of marketing collaterals and to identify the obstacles that are faced by the customer/visitor in utilizing these collaterals. Thus, changes can be suggested in order to mend the utility of these marketing collaterals.Brand bring in of HDFC bank in semi-urb an regions of IndiaA brand plays a very vital role in the sales of any company. The image that people have about a legitimate brand influences them to make decision regarding whether to use a certain product or service of that particular brand. Thus, in order to remedy sales, it is very important to improve the brands image in the minds of people. Brand tracking is a methodology which helps in tracking and identifying the brands image i.e. what people compass about the particular company. Identifying the brands image is very helpful in placing marketing strategies. The objective of this project is to track the image of HDFC bank in the minds of its customers as well as non-customers in semi-urban markets of India and identifying the banks brand position as compared to its competitors.BENEFITS TO THE ORGANIZATIONWith the help of this bailiwick, HDFC Bank can identify how a great deal impact its severally marketing collaterals has on the customers and which are the collaterals w hich are not helpful or move over to pull enquiries from the customers. Also the reason behind the collaterals not being cute are found out and accordingly modifications are suggested. Thus, the posture of the marketing collaterals at various distinguishes of Mumbai city can be increased.The brand tracking bailiwick would help HDFC Bank to identify what people in semi-urban regions perceive about it. Also it can know where it stands as compared to its competitors and what people understand about HDFC Banks local taglines. The brand awareness, visibility, likability and its recall value is calculated. Future marketing strategies can be designed using this information.Apart from these core objectives, HDFC Bank can also use the entropybase collected by the survey for generating leads and other such purposes.LIMITATIONS OF THE STUDYAs the method of communication used for the survey is face-to-face or door-to-door, the limitations include limited geographical flexibility, high c ost and difficulty in call back or follow-up.The entire surveys, question, synopsis and decisions are ground on the primary info collected by interviewing people from different cities. So the project is highly reliable on the perceptions, thoughts and judgments of people, which are ever changing. Also measuring the cognitive, affective and behavioural components of an locating is a limitation.The project on brand tracking is limited to the semi-urban regions of India and does not include the urban cities.RESEARCH PROCESS ADOPTEDBoth the projects that have been selected are research establish projects. To study the impact of marketing collaterals in the partes of HDFC bank in Mumbai city as well as for tracking the image of HDFC bank in semi-urban regions, a research had to be do which followed a process that is divided in 7 steps which are as followsThe entire research process has been designed keeping these 7 steps in mind. Accordingly, a schedule was formed and the stipula ted time ashes was decided to complete the tasks of the schedule. This helped complete the projects in a smooth and consistently planned manner.THE SCHEDULE OF TASKS IS AS FOLLOWSMETHODOLGY USEDThe methodology adopted for researching on both the projects is by collecting primary entropy through questionnaire method. Customers as well as non-customers are interviewed using questionnaires on face-to-face solid ground by visiting different semi-urban regions of a few cities where HDFC bank has its branches situated at. Data collected from questionnaires will be used in per centumage form as the primary entropy for making analysis.It is a soused research methodology based on a perception based survey which would include parameters like brand awareness, brand image/perception, brand recall value, brand performance and brand association.The process for preparing the questionnaires for the brand tracking survey is by interviewing 100 people (random sampling) on what they feel are i mportant attributes or features that they look for while selecting a bank for possible action a CASA account. The next step is to select the features that have been desired by maximum number of people asked. These features are to be included in the questionnaire along with the other questions for tracking the brand image of HDFC bank. By multiplying the govern given by interviewees to the importance level of the attribute, a clear idea can be drawn as to where HDFC bank stands as compared to its competitors and in which areas the bank need to work upon. Also, the local taglines of HDFC Bank in different cities for example, Gujarati in Surat, Marathi in Aurangabad and so on has been included in the questionnaire for indentifying the arrangement that people, of that particular region, have about the local tagline.In order to take aim the questionnaire to study the impact of marketing collaterals in branches, the well-nigh common marketing collaterals have been identified and incl uded. The questionnaires are bring ind with the aim of identifying the importance and effectiveness of severally marketing collateral and the problems faced by the visitors in using these collaterals. For providing more clarity, both the questionnaires prepared are attached with this report.The entire data derived from the questionnaires regarding both the projects, is coded and saved in pass sheets so that it can be included in the banks MIS and can be used by the bank in future whenever required.CITIES AND BRANCHES VISITED TILL DATELists of cities that have been visited for Brand introduce of HDFC Bank is as follows1) AurangabadPeople outside the branches of HDFC banks competitors i.e. ICICI bank, SBI and AXIS bank were interviewed using questionnaires that were prepared.2) SuratSemi-urban regions near Surat city were visited i.e. Bardoli and Amroli.3) Madhya PradeshSemi-urban regions of M.P were visited i.e. Khandwa and Harda.4) RajkotSemi-urban regions of Rajkot were visited i.e. Wankaner, Metoda and Una.A list of branches of HDFC Bank in Mumbai that were visited to precede the study on impact of marketing collaterals in branches is as followsHughes lane branchSandoz house branchKhar lane branchBorivali branchVashi branchAndheri branchSanpada branchZaveri branchAPMC 2 branchKandivili branch pass by sheets containing the entire information of the cities and branches visited along with the data collected is attached with this report. info FINDINGS OF MARKETING COLLATERALS SURVEYList of branches visitedHughes Road branchSandoz house branchKhar Road branchBorivali branchVashi branchAndheri branchSanpada branchZaveri branchAPMC 2 branchKandivili branchTotal number of people interviewed two hundredData collected is as follows1) How often do you visit the branch?a) Very often 48%b) Less often 28%c) rarely 24%2) How much time do you spend in the branch at every visit?a) 5 to 10 minutes 17.5%b) 10 to 15 minutes 34%c) 15 to 20 minutes 20.5%d) precedi ng(prenominal) 20 minutes 28%3) Which of the following collaterals attract your attention the to the highest degree?4) Do you often spend time reading these collaterals?a) Yes 67.5%b) No 32.5%5) Do you find it easy to read them?a) Yes 94%b) No 6%6) If yes, does it aim you to inquire about it?a) Yes 75.5%b) No 24.5%7) If no, what are the obstacles that prevent you from reading it?a) fixing of the collateral 2.5%b) Font size/colour 2%c) Too much text matter 12%d) Language 0.5%e) Other issues 6%f) No issues 77% info FINDINGS ON BRAND TRACKINGCities VisitedAurangabad, Surat (Bardoli and Amroli), Madhya Pradesh (Khandwa and Harda) and Rajkot (Una, Wankaner and Metoda)Total turn of peopleinterviewed200Data collected is as follows(The data provided is divided into common chord sections i.e. in terms of all the data collected, data collected from customers and data collected from non-customers)1) Banks that the people were aware about are as follows every last(predicate) da taHDFC bank 26.3%ICICI bank 21.8%State Bank of India 18% axis bank 15%Other 18.8%CustomersHDFC bank 28.57%ICICI bank 19.72%State Bank of India 16.32% axis bank 12.92%Other 22.44%Non-customersHDFC bank 25.60%ICICI bank 22.51%State Bank of India 18.54%Axis bank 15.67%Other 17.66%2) Public opinion about each bank with regards to the attributes mentioned as followsa) Trust altogether dataCustomersNon-Customersb) Customer well-disposed staffAll dataCustomersNon-customersc) Speed of servicesAll dataCustomersRanksICICIHDFCSBIAXISImpact of Marketing Collateral in BanksImpact of Marketing Collateral in BanksINTRODUCTIONAbout HDFC BankHDFC Bank was incorporated in August 1994, and, currently has a nationwide network of 2000 Branches and 5,471 ATMs in 996 Indian towns and cities.Differentiate to leadTrust is a bankers greatest bills and a great banking and financial services brand can be built only on a strong foundation of trust. That middling much has been HDFC banks story as it emerged from the image of a state owned housing finance corporation to a slick new age universal bank. Incorporated in 1994, the banks contribution to the bustle of post repose has been incredible.The banks service offerings include a spectrum of innovative products in retail banking, wholesale banking, the capital markets and many more areas growing consistently at 25-30 percent for over a decade. This has been driven by HDFC banks decision to adopt technology as its backbone. Not only did the technological revolution cut down costs but most significantly it enhanced the customer experience. The experience fostered trust and confidence among customers and the virtuous feedback loop catapulted HDFC bank into the league of selected private sector banks in the country.HDFC banks biggest differentiator from others is its robust set of policies that they worked on backed by quality service. Clear de-risking policies in a high risk Indian market have paid rich dividends to a bran d run with great vision and strategy. When others concentrated on numbers, HDFC bank concentrated on quality. That made them an extremely respected bank to deal with.Power CreationWith the vision of being one-stop financial superstore in mind, the bank operates in three segments Personal Banking, Wholesale Banking, and NRI Services. The Personal Banking segments provides various deposit products, exclusive banking for high net-worth individuals including Wealth Advisory, Private banking and Personal loans such as auto, personal, home, gold, business loans and more. This segment also is the distribution point for third society financial products, such as Mutual Funds and Insurance. In the space of Personal Banking, HDFC banks credit Cards are also enormously trusted. hither as well some well-crafted strategies of the past have yielded brilliant results for the bank. mavin of the key success factors for HDFC bank is clear de-risked business strategies that not only ensure the right revenue inflow but a hard-core customer base. The Wholesale Banking segment provides loan and transaction services to large corporate organizations, emerging corporate organizations, small and medium enterprises and institutional customers. It also offers deposit and transaction banking products, working capital and term finance, foreign fill in products and the like. Other services include trade services, cash management, money market, custodial, tax collection and electronic banking. In addition, it provides correspondent bank services to co-operative banks, private banks, foreign banks and regional rural banks and investment services for non-resident Indians.Communication schemeThe positioning strategy in recent years has been to position the bank as a one-stop financial supermarket. The objective of the communication has not just been acquisition of new customers, but also creating product awareness, enhancing usage and providing value-adds to customers. The campaigns from HD FC bank have always focused on that and their tagline We Understand Your World only carries the legacy forward. Advertisement campaigns are aimed at highlighting how a product fulfils an identified customer need. The communication showcases the customer benefit first showcasing the banks commitment towards excellence in customer service facilitated through various means, particularly technology. The bank also compliments its visual media presence with below the line activities including innovative programmes such as the Merits Scholarship plan which received high acclamation.Magical factorsAs a brand, HDFC bank remains committed to India and enhancing the financial service space for everyone in the country. HDFC bank plans to bring financial viability in the next five years to 10 million families at the back end of the pyramid through supporting microfinance programmes which can be driven by the bank through self help groups rather than just relying on microfinance institutions. T he relentless pursuit of efficiency through technology also makes the bank a customer favourite. Their latest innovation is the My Favourite features at ATMs which help customers reduce the time they spend at the ATM. The feature enables the consumer to customize his most often used withdrawal amount thereby speeding up the process by about 40%. It is the focus on diminished things also that has made HDFC bank such a customer centric bank and is the heart and soul of the brand.Brand EthosHDFC bank has always been about making customers comfortable thereby earning their trust. Whether it is through offering transparent products with no hidden fine print or through technological enhancements, HDFC bank has always paid attention to understand customer needs, reinforcing the trust it holds among customers. Its current tagline We Understand Your World is only apt in the sense that if theres one word youd like to associate with HDFC bank it has to be savvy.What is a Brand?The word bran d is derived from the Old Norse brandr meaning to burn. It refers to the practice of producers burning at the stake their mark (or brand) onto their products.When the technique of branding first started, it was meant to make identifying and differentiating a product easier. Over time, brands came to embrace a performance or benefit promise, for the product, certainly, but eventually also for the company behind the brand. Today, brand plays a much bigger role. Brands have been co-opted as powerful symbols in larger debates about economics, social issues, and politics. The power of brands to communicate a complex message quickly, with horny impact and the ability of brands to attract media attention makes them an ideal tool in the hands of activists.Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and relates to key constituencies i.e. customers, staff, partners, investors etc.Brand identity and imag eBrand identity is the outward expression of a brand, including its name, trademark, communication theory and visual appearance. Because the identity is assembled by the brand owner, it reflects how the owner wants the consumer to perceive the brand and by extension the branded company, organization, product or service. This is in ancestry to the brand image, which is a customers mental picture of a brand. The brand owner will seek to bridge the gap between the brand image and the brand identityBrand awarenessBrand awareness refers to customers ability to recall and recognize the brand under different conditions and link to the brand name, logo and jingles etc., to certain associations in memory. It helps the customers to understand to which product or service category the particular brand belongs and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products. Brand awareness is of critical importance since customers will not consider your brand if they are not aware of it.Brand TrackingThe role of brand tracking methodologies is to monitor the health and the value of your brands. These are the business equivalent of taking your temperature or reading your pulse they can tell you quite reliably (within statistically-dictated tolerances) whether you are ill or well, and even how ill or how well. They can also point to certain symptoms. However, if you want to know how to get better, you may have to go to see a doctor (or, in this case, a consultant/marketing research agency using sophisticated diagnostic and prognostic techniques)Effective brand management relies on getting timely and accurate information from the lay audiences. Brand tracking involves designing a program of measurement that is terminate on a regular schedule to allow for trend analysis and comparison.Some of the key metrics that are involved in tracking a brand includeBrand awareness an d familiarityBrand perceptionsBrand positioningDelivery on brand promisePerceptions of competitive brandsWhat are marketing collaterals?Marketing collaterals consists of printed materials that describe a business and its products and services. Marketing collateral includes brochures, posters, banners, standees and other printed materials produced by or for an organization.Types of the marketing collaterals used in HDFC bank are displayed as followsMARKETING COLLATERALSWINDOW GLAZINGTENT CARDSLCD TVSTANDEEBANNERLEAFLETSPOSTERNOTICE senesceDESCRIPTION OF THE PROJECTImpact of marketing collaterals in branchesEvery bank has several branches spread wide all over. As we enter a branch we witness many informative items such as banners, posters, standees, leaflets, window glazing, etc. These are known as marketing collaterals. These collaterals are put up with the intention of being read and used by every individual, customer or non-customer, whosoever enters the branch for whatever purpos e. They carry information regarding new offers, schemes, rates, changes in banking operations, RBI implications, list of services provided, etc. These are meant to kidnapping customer attention and to probe them into enquiring about the information displayed. It not only helps in improving sales opportunities but also helps in spreading information about the bank and its services.By observing and studying how effective these collaterals actually are, we could do a cost-benefit analysis and also provide recommendations on improving the effectiveness and usefulness of these collaterals by making desired modifications. The project involves observing visitors and also using questionnaires to identify the effective usage of marketing collaterals in the branches of HDFC bank spread over Mumbai city.Brand tracking of HDFC bank in semi-urban regions of IndiaA brand is defined as a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of competitors.It is very difficult to understand the perception that people have about a particular brand. The role of brand tracking is to monitor the health and the value of a particular brand. It can tell you quite reliably how are the brand performing and what is the image of the brand, as perceive by the people. Brand tracking can point out the reasons why a brand is not performing well and can also recommend suggestions on improving the brand image.In this project, I will be using questionnaires to interview already existing customers as well as non-customers in semi-urban areas of selected cities of India about how they feel about HDFC bank and its services. Interviews would be done face-to-face or door-to-door. Analysis will be made from the data obtained and the current brand image in the minds of people can be formed. Accordingly, suggestions can be provided on how the brand image can be improvised.OBJECT IVES OF THE PROJECTImpact of marketing collaterals in branchesHDFC bank has 1780 branches and 5231 ATMs in 833 Indian towns and cities. Every branch has several marketing collaterals placed with the intention of spreading awareness about the bank and for improving sales. HDFC bank incurs expenses to put up these marketing collaterals. If the collaterals do not help the bank up to the desired extent at which the bank requires then it is considered that the bank is making losses on these marketing collaterals. The core objective of this project is to study the usefulness of marketing collaterals and to identify the obstacles that are faced by the customer/visitor in utilizing these collaterals. Thus, changes can be suggested in order to improve the utility of these marketing collaterals.Brand tracking of HDFC bank in semi-urban regions of IndiaA brand plays a very vital role in the sales of any company. The image that people have about a certain brand influences them to make decision regarding whether to use a certain product or service of that particular brand. Thus, in order to improve sales, it is very important to improve the brands image in the minds of people. Brand tracking is a methodology which helps in tracking and identifying the brands image i.e. what people perceive about the particular company. Identifying the brands image is very helpful in placing marketing strategies. The objective of this project is to track the image of HDFC bank in the minds of its customers as well as non-customers in semi-urban markets of India and identifying the banks brand position as compared to its competitors.BENEFITS TO THE ORGANIZATIONWith the help of this survey, HDFC Bank can identify how much impact its each marketing collaterals has on the customers and which are the collaterals which are not helpful or break to induce enquiries from the customers. Also the reason behind the collaterals not being attractive are found out and accordingly modifications are sugges ted. Thus, the effectiveness of the marketing collaterals at various branches of Mumbai city can be increased.The brand tracking survey would help HDFC Bank to identify what people in semi-urban regions perceive about it. Also it can know where it stands as compared to its competitors and what people understand about HDFC Banks local taglines. The brand awareness, visibility, likability and its recall value is calculated. Future marketing strategies can be designed using this information.Apart from these core objectives, HDFC Bank can also use the database collected by the survey for generating leads and other such purposes.LIMITATIONS OF THE STUDYAs the method of communication used for the survey is face-to-face or door-to-door, the limitations include limited geographical flexibility, high cost and difficulty in call back or follow-up.The entire surveys, research, analysis and decisions are based on the primary data collected by interviewing people from different cities. So the pr oject is highly reliable on the perceptions, thoughts and ideas of people, which are ever changing. Also measuring the cognitive, affective and behavioural components of an bearing is a limitation.The project on brand tracking is limited to the semi-urban regions of India and does not include the urban cities.RESEARCH PROCESS ADOPTEDBoth the projects that have been selected are research based projects. To study the impact of marketing collaterals in the branches of HDFC bank in Mumbai city as well as for tracking the image of HDFC bank in semi-urban regions, a research had to be made which followed a process that is divided in 7 steps which are as followsThe entire research process has been designed keeping these 7 steps in mind. Accordingly, a schedule was formed and the stipulated time remains was decided to complete the tasks of the schedule. This helped complete the projects in a smooth and systematically planned manner.THE SCHEDULE OF TASKS IS AS FOLLOWSMETHODOLGY USEDThe met hodology adopted for researching on both the projects is by collecting primary data through questionnaire method. Customers as well as non-customers are interviewed using questionnaires on face-to-face reason by visiting different semi-urban regions of a few cities where HDFC bank has its branches turn up at. Data collected from questionnaires will be used in lot form as the primary data for making analysis.It is a sloshed research methodology based on a perception based survey which would include parameters like brand awareness, brand image/perception, brand recall value, brand performance and brand association.The process for preparing the questionnaires for the brand tracking survey is by interviewing 100 people (random sampling) on what they feel are important attributes or features that they look for while selecting a bank for coal scuttle a CASA account. The next step is to select the features that have been desired by maximum number of people asked. These features are to be included in the questionnaire along with the other questions for tracking the brand image of HDFC bank. By multiplying the circle given by interviewees to the importance level of the attribute, a clear idea can be drawn as to where HDFC bank stands as compared to its competitors and in which areas the bank need to work upon. Also, the local taglines of HDFC Bank in different cities for example, Gujarati in Surat, Marathi in Aurangabad and so on has been included in the questionnaire for indentifying the understanding that people, of that particular region, have about the local tagline.In order to prepare the questionnaire to study the impact of marketing collaterals in branches, the most common marketing collaterals have been identified and included. The questionnaires are prepared with the aim of identifying the importance and effectiveness of each marketing collateral and the problems faced by the visitors in using these collaterals. For providing more clarity, both the quest ionnaires prepared are attached with this report.The entire data derived from the questionnaires regarding both the projects, is coded and saved in EXCEL sheets so that it can be included in the banks MIS and can be used by the bank in future whenever required.CITIES AND BRANCHES VISITED TILL DATELists of cities that have been visited for Brand Tracking of HDFC Bank is as follows1) AurangabadPeople outside the branches of HDFC banks competitors i.e. ICICI bank, SBI and AXIS bank were interviewed using questionnaires that were prepared.2) SuratSemi-urban regions near Surat city were visited i.e. Bardoli and Amroli.3) Madhya PradeshSemi-urban regions of M.P were visited i.e. Khandwa and Harda.4) RajkotSemi-urban regions of Rajkot were visited i.e. Wankaner, Metoda and Una.A list of branches of HDFC Bank in Mumbai that were visited to withdraw the study on impact of marketing collaterals in branches is as followsHughes Road branchSandoz house branchKhar Road branchBorivali branchVashi branchAndheri branchSanpada branchZaveri branchAPMC 2 branchKandivili branchEXCEL sheets containing the entire information of the cities and branches visited along with the data collected is attached with this report.DATA FINDINGS OF MARKETING COLLATERALS SURVEYList of branches visitedHughes Road branchSandoz house branchKhar Road branchBorivali branchVashi branchAndheri branchSanpada branchZaveri branchAPMC 2 branchKandivili branchTotal number of people interviewed 200Data collected is as follows1) How often do you visit the branch?a) Very often 48%b) Less often 28%c) rarely 24%2) How much time do you spend in the branch at every visit?a) 5 to 10 minutes 17.5%b) 10 to 15 minutes 34%c) 15 to 20 minutes 20.5%d) to a higher place 20 minutes 28%3) Which of the following collaterals attract your attention the most?4) Do you often spend time reading these collaterals?a) Yes 67.5%b) No 32.5%5) Do you find it easy to read them?a) Yes 94%b) No 6%6) If yes, does it induce you t o inquire about it?a) Yes 75.5%b) No 24.5%7) If no, what are the obstacles that prevent you from reading it?a) locating of the collateral 2.5%b) Font size/colour 2%c) Too much text matter 12%d) Language 0.5%e) Other issues 6%f) No issues 77%DATA FINDINGS ON BRAND TRACKINGCities VisitedAurangabad, Surat (Bardoli and Amroli), Madhya Pradesh (Khandwa and Harda) and Rajkot (Una, Wankaner and Metoda)Total enactment of peopleinterviewed200Data collected is as follows(The data provided is divided into three sections i.e. in terms of all the data collected, data collected from customers and data collected from non-customers)1) Banks that the people were aware about are as followsAll dataHDFC bank 26.3%ICICI bank 21.8%State Bank of India 18%Axis bank 15%Other 18.8%CustomersHDFC bank 28.57%ICICI bank 19.72%State Bank of India 16.32%Axis bank 12.92%Other 22.44%Non-customersHDFC bank 25.60%ICICI bank 22.51%State Bank of India 18.54%Axis bank 15.67%Other 17.66%2) Public opinion about each bank with regards to the attributes mentioned as followsa) TrustAll dataCustomersNon-Customersb) Customer kindly staffAll dataCustomersNon-customersc) Speed of servicesAll dataCustomersRanksICICIHDFCSBIAXIS

The Role of Financial Intermediation in Banking

The Role of pecuniary intermediation in Banking mo gainary intermediaries exist to solve or narrow food market imperfections such as differences in preferences of lenders and borrowers, exertion represent, shocks in consumers consumption and lopsided teaching. Theories developed to explain how pecuniary intermediaries reduce market imperfection plus transformationTransaction cost reductionLiquidity insuranceInformational economies of master leaf and delegated monitoringAsset TransformationAsset transformation is a turn performed by financial intermediaries to transform particular types of assets into to opposites. This is to present the need of borrowers for longsighted term capital and the need of lender for high degree of liquidness in their asset. monetary intermediaries transform the primary securities issued by houses into indirect securities by lenders. They issue liabilities (deposit claims) which be short term, low risk and high runniness, and put on parts of these silver to find larger, high risk and illiquid claims.3 chief(prenominal) TransformationsMaturity TransformationAs the liabilities of financial intermediaries mature faster than their assets, financial intermediaries mismatch the maturity of the assets volition maturity of the liabilities by making semipermanent lends and fund them by issuing short-term deposit.Size TransformationThe feature along take ind by borrowers are much much than the amount prove avail commensurate by lenders. Financial intermediaries can then collect and intermingle the f at a dismount places from lenders as required by the borrowers.Liquidity TransformationFinancial intermediaries leave alone financial or secondary claims or bestows. Deposits which are held under liabilities of banks repose are low risk and high liquidity, while loans which are held under the assets of banks balance are riskier and illiquid. To hold liabilities and assets of different degree of liquidity, fi nancial intermediaries depart diversify their portfolios. More diversification will lower the default probability. peril TransformationFinancial intermediaries must be seen by the lenders as a safe place to hold deposits. However, the loans do by the intermediaries to the borrower bear any(prenominal) default risk. Therefore, financial intermediaries scram to transform risk to reconcile the preferences of borrowers and lenders.Firstly, banks affair credit scoring to select wide borrowers with sizable repaying loans history to play down the risk of loss of each loan.Second is to diversify risk by lending to different types of borrowers. Banks try to avoid heavy concentration on an economic activity or on a particular area. They likewise limit the amount that can be loan out.Example From 1985-1989, four hundred Texan banks failed which are resulted from heavy concentration on their loan portfolio in real estate dependent on the oil businesses.Third is by pooling risks. Varia bility of losses can be reduced by making loans to many borrowers. Although by making out many loans does non reduce the loss in the portfolio of loans overall, but it increase the bank accuracy of fortune telling and limits maximum loss for which the intermediaries has to stand.How financial intermediaries reduce transaction costs?Financial intermediaries reduce transaction costs by internalizing them. They unclutter network and randomness system available to lenders and borrowers. As such, lenders and borrowers do non have to take chances a suitable counterpart each time they want to make a transaction with the former(a) party. Financial intermediaries withal provide order products which help to reduce the learning cost related with scrutinizing unmarried financial instruments. They too use tested procedures and routines.Theory of transaction costsEconomies of scale refer to the transaction costs per dollar of output is reduced as the number of financial transactions i ncrease.Example When using loan rationalise for many loans, the unit cost of a contract per loan is lower than a loan contract drawn up individually when job direct lending.Economies of cost refer to the cost of producing at least 2 products together is lower that producing them individually. It is concerned with deposit and fee services, because deposits are profound financial claims which allow banks to collect funds to sustain their lending activities and satisfy the request of making payments.ExpertiseThey developed expertise to lower transaction cost. Financial intermediaries such as banks and mutual funds develop in knowledge technology such as ATM to provide liquidity service.Asymmetric InformationAdverse SelectionIt arises when borrowers who are likely to bring forth inapplicable results are the one who are actively seeking loans, because they go that they are unlikely to pay it back. Adverse selection increases the probability that the loan might become a problemat ical credit risk. Hence, lenders whitethorn reconcile not to loan out, even when in that respect is earnest credit risk. clean HazardIt is the risk that occurs after the transaction has been made. It is the risk that the borrower may take away in activities which is undesirable from the lenders point of view because there a likeliness that the loan will not be repaid. Therefore, lenders may decide not to make loan.How adverse selection influence financial structure? integrity MarketWhen borrower wanted to make investment funds funds and yet is unable to contend between good and bad familys, he is only ordain to pay the price the price that reflects the fair quality of debaucheds. However, the firms have more reading than the investors and will know the quality of the projects. Good firms will not be willing to sell the securities because they know that their securities are undervalued. Only bad firms are willing to sell their securities at the average price because the pr ice is high than the value of bad firms securities. However, investors may not want to deal securities from bad firms and end up decides not to defile any.Bond MarketA potential investor will only be willing to buy a bond if the sake rate is high enough to compensate him the average default risk between the good and bad firms. Good firms will not want to borrow funds because they know that they are little risk adverse and should not pay an interest that is high than what they in the first place should pay for. Only bad firms are willing to pay for such interest rate. However, investor does not wish to buy bond from bad firms. Subsequently, there will be fewer bonds sold in the markets.Tool utilise which helps to reduce or solve adverse selection problemsPrivate payoff and sales of info disposal regulation to increase informationFinancial intermediariesPrivate companies such as Standard and Poors, Moodys and Value Line fulfil firms financial position and investment activitie s, and sell them to potential investor. much(prenominal) information will help investors in making more accurate investment decisions. However, this does not completely solve the asymmetric problem because of the free-rider problem. The free-rider problem occurs when individual who do not pay for the information take advantage of the information of which others has paid for. An investor who has paid for the information knows which the are good firms. He decides to buy securities of good firms that are undervalued. The free-riding investors observe which securities is the investor who paid for information is buying, will buy the same securities. This leads to increase in demand of the securities and soon the price of that security measure will increase to reflect the true value. As a result, because of these free-riders, the investors who bought the information will not benefit. As such, he will realize that he should not buy the information in the first place. If other investors withal realize this, private companies may not be able to make enough earnings from producing the information, and slight information is produced in the market and so adverse selection will interfere with the efficient function of securities markets.Government regulation to increase informationGovernment could regulate financial markets to fasten that firms disclose all information so that investors could distinguish between good firms and bad firms. In United States, the Securities and Exchange Commission (SEC) is the government style that requires firm selling securities to be certified in adhering to standard news report principles and disclose honest information about their sales, assets and earnings. But, government intervention on disclosing information does not solve adverse selection completely because story principles can be manipulated. Also bad firms can slant information which is required to transmit public to make them look like good firms. By doing so, they can g et higher price for their securities. Thus, investors will have problem again to identify which firms are the good ones.Financial intermediariesFinancial intermediaries such as banks have developed expertise in the ware of information so that they can evaluate the quality of firms better. Banks produce information through the transactions on the borrowers bank accounts. From the transactions, banks will be able to determine the suitability of credit and ability to repay the loan. Banks then acquire funds from depositors and lend them to good firms. By lending the money to good firms, banks will be able to earn a higher depict than they pay to depositors. Banks will then earn meshwork and can wrap up in producing information. Also, banks can make improvement because it can avoid free-rider problem. They make private loans which are not traded in open markets. As such, other investors cannot follow what the bank did and bid the price of loan where the bank does not get any gain f or the information it produces.Fact Banks are strategic to developing countries. When banks produce information, the problem on asymmetric problem is less severe, and it will be easier for firms to issue securities. Information in developing countries is un engagelable to get as compared to developed countries. Therefore, banks have to play the role in producing information.CollateralCollateral which is property that promised to the lender if the lender default, reduces the adverse selection problem because it reduces the lender losses if the borrower goes into default.How righteous peril influences financial markets incorrupt happen occurs after the transaction takes place. It is the risk that the borrower may engage in questioning activities which is undesirable from the lenders point of view, because the loan may be unpaid.Because of the charge of moral hazard problems, firms find it easier to raise fund with debt instruments rather than with fair-mindedness contracts.Mor al hazard in comeliness contractsEquity contracts subject to a type of moral hazard known as principal-agent problem. In a firm, there are managers and stockholders. Usually, managers and stockholders are different people. Managers are the ones who have more information than the stockholders while the stockholders own most of the firms equity. The separation of ownership and control and with the presence of asymmetric information, managers may act in their own interest rather than the interest of the stockholder because managers have fewer inducements to maximize the shekels that the stockholder do.Tools to help reduce/solve moral hazard in equity marketsProduction of information monitoringTo reduce moral hazard problem, stockholders can engage in the monitoring of the firm activities by auditing the firm frequently and checking on what the management is doing. However, monitoring can be genuinely costly. (Monitoring is a costly state verification). This also explains in parts why equity is not an important element in the financial structure.However, this could also cause free-rider problem. Free-rider problem reduces the moral hazard problem. Because, when stockholder knows that other stockholders are paying for the monitoring activities, he can free ride on their activities. If all stockholders share the same mentality, no stockholders will be willing to pay for the monitoring activities.Government regulation to increase informationGovernments follow out laws to ensure that firms are adhering to accounting standards which can verify the profit easier, and apply penalties on people who committed fraud in hiding or stealing the profit. However, this measure is not very(prenominal) effective because managers have the incentive to make fraud difficult to be proven.Financial intermediaries active in the equity marketAn example of financial intermediaries is the venture capital firm which cans helps to reduce moral hazard arising from the principal-agent p roblem. They use fund of their partners to help entrepreneurs in setting up new businesses. In exchange for the use of funds provided by venture capital firm, venture capital firm get an equity shares in the new business. Because confirm profit is important in eliminating moral hazard, venture capital firms usually insist on having several(prenominal) of their own people to participate in the management of the firm. Also, the equity in the firm cannot be sold to anyone but to the venture capital firm. Therefore, other investors are unable to free-ride on the venture capital firms activities on verifying profit.Debt ContractsDebt contract is a contractual agreement by which the borrower promised to pay lender fixed amount at regular intervals. The amount of profit made by firm will not affect how much will the lender be receiving. Therefore, whether did the managers have been hiding or stealing profit or engaging in activities which do not increase the train of profit earned, it is of no concern to the lenders, so long as the firm is able to make payment. Only when the firm is unable to make payment as promised, then will the lenders have to know how much profit is the firm getting. As such, less monitoring is required for debt contracts and therefore, lowering the cost of state verification. This also explains why debt contracts are used more a great deal than equity contracts to raise funds.The concept of moral hazard explains why stocks are not the most important source of financing for businesses.How moral hazard influences financial structure in debt marketsAlthough debt contracts has lower moral hazard as compared to equity contracts, but debt contracts are still subjected to moral hazard. Because debt contracts only require firms to pay a fixed amount and allow them to custody profit above this amount, firms have an incentive to take on risky investment projectsTools to help reduce/solve moral hazard in debt markets qualification debt contract incent ive-compatibleHigh net worth makes the debt contract incentive-compatible it aligns the incentive of the borrower with that of the lender. Firms with higher net worth are more likely to act in the way that are desirable form the lenders point of view, and thus trim moral hazard problem, and it will be easier for firms to borrow.Monitoring and enforcement of constrictive covenantsBy introducing restrictive covenants into debt contracts, moral hazard problems are be reduced, as restrictive covenants is a provision which restricts firms activities by either ruling out undesirable behavior or encouraging desirable behavior.There are principally four types of covenants/Covenants to discourage undesirable behaviorsSuch covenants restrict firms to use the debt contracts to pay on fixed assets or inventories. Others may restrict firms to engage in risky activities such as acquiring other businesses. Covenants may also disallow firm to issue new debt or dispose it asset, and may also res trict dividend payments if ratios such as leverage ratio, ratio of debt to equity has up to a certain level.Covenants that encourage desirable behaviorSuch covenants require the borrower to have a life insurance that pays off the loan upon the death of the borrower. Such covenants may also encourage firms to keep it net worth high because firms with high net worth reduce the moral hazard problem. Hence, it minimizes the chance that the lenders may be making losses. These covenants require firms to avow minimum holding of asset relative to the size of the firm.Covenant to keep collateral valuableSuch covenants encourage borrower to keep the collateral in good condition and it must be in the possession of the borrower.Covenants to provide informationSuch covenants provide information about its activities periodically in the form of quarterly accounting and income reports. Such covenants may also allow the lender to audit the firms anytime.This explains why debt contracts are complica ted legal documents with restrictions on borrowers behavior.Covenants reduce moral hazard but do not carry away them, as it not difficult to rule out every risky activity. Also, to ensure that firms are complying with the covenants, monitoring must be enforced. However, monitoring is very costly. Investors may free-ride on the monitoring activities undertaken by other investors.Financial intermediaries, particularly banks are able to avoid the free-riders problems