Finance-Annuities Speech or Presentation Example | Topics and Well Written Essays - 750 words

Finance-Annuities - Speech or Presentation Example 9. Wade Ellis buys a car for  $15,002.71. He puts 10% down and obtains a simple interest amortized loan for the balance at  12  and  1/2%  interest for four years. After three years and two months of making the minimum monthly payment, he sells his car. Find the unpaid balance on his loan. (Round all intermediate calculations to the nearest cent. Round the answer to the nearest cent.) 10. Four candidates, Harrison (H), Lennon (L), McCartney (M), and Starr (S), are running for regional manager. After the polls close, ranked ballots are tallied, and the results are summarized in the table. Use the plurality method of voting to determine the winner. 11. The managers of Prints Alive (a local silk-screening business) are planning a party for their  44  employees. There are three possible locations for the party: the warehouse (W), the park (P), or the beach (B). The employees are asked to rank these choices in order of preference, and the results are summarized in the table. Use the instant runoff method to determine the winner. 12. The managers of Prints Alive (a local silk-screening business) are planning a party for their  40  employees. There are three possible locations for the party: the warehouse (W), the park (P), or the beach (B). The employees are asked to rank these choices in order of preference, and the results are summarized in the table. Use the Borda count method to determine the

Islamic Banking Operations and Instruments Research Paper

Islamic Banking Operations and Instruments - Research Paper Example Indeed, culture has been traditionally related to society and its intervention in economic life has been rather unexpected. Islamic banks follow specific rules. These rules mostly reflect the Islamic law, also known as Sharia law. Following these rules is considered as obligatory for the Islamic financial institutions. However, it is possible for additions to be made, according to the needs of the local market and always within specific limits, as explained below. The differences of Islamic banks from conventional banks, meaning the Western banks are many. These differences are analyzed in the sections that follow. The paper focuses on all aspects of Islamic banking, including the principles and types of their daily operations but also the instruments that these financial institutions use for aligning their activities with the rules of the Islamic law. The review of the literature published in the particular field has led to the following assumptions: a) the operational rules of Isla mic banks are rather difficult to be implemented and monitored; it is possible for this reason that failures are not avoided but they are kept at rather low levels, if compared to the rate of failures of the western banks, b) the Islamic banking system has a significant advantage compared to the conventional banking system: it is not based on borrowing but rather on deposits. This fact makes Islamic banks more capable of facing strong financial crises. The lack of severe failures in Islamic banks worldwide during the recent recession of 2008 proved that the specific characteristic of Islamic banks is a key element of their competitiveness; c) the performance of Islamic banks may not reach the high levels of performance of western banks. However, this fact should not cause worries. More specifically, the high financial status of western banks is often the result of extensive borrowing by organizations operating at state level, meaning especially the Central Bank of each state. Securi ng funds for expanding their activities and for supporting their financial projects, western banks often give the impression of increased power towards financial institutions of different characteristics, such as Islamic banks or building societies. Still, if their financial statements are carefully reviewed then it is made clear that the level of their performance is actually low, even if their cash flow is high because the level of their liabilities can be significantly higher compared to their assets. The paper has been divided into three main sections. In the introductory section the key elements of the issue under discussion are presented. The various aspects of the paper’s subject are analyzed in the second section which has been divided in sub-sections so that each thematic unit is made clearer. A conclusion is provided aiming to summarize, as possible, the findings of the literature review, as presented analytically in section 2. It should be noted that the particular subject has been chosen mostly because of the significant expansion of Islamic banking as a mode of banking contributing in the stability of the economy and the avoidance of major economic turbulences. 2. Islamic banking –

Buddhism Philosophy Essay Example | Topics and Well Written Essays - 250 words

Buddhism Philosophy - Essay Example It is clear that everything in the world according to Buddhism has a purpose and is subject to change to fit their purpose. Every component in the environment has a connection that affects another with none having a permanent state. From the text, it is clear that healing according to Buddhism involves physical, emotional and spiritual in recovery from sickness (Barry, 22). It takes the holistic perspective that differentiates it from the conventional treatment that only considers treating the symptoms. However, the philosophies of Buddhism differ from other religions by purporting that there is no resemblance to God or future immortality. The differences originate from the perspective that everything is subject to change.The article extinguishes education, economic status, culture and social life as factors that affect people’s health. All these show the relationship of individual being with the environment where they live. There is a need to consider all relevant factors whi le dealing with health and diseases to ensure better prevention, diagnosis, and treatment. People always cause an impact on the surrounding and at the same time, the environment acts on them. Hence, Buddhism takes into consideration of mental, social and physical health status of a person when considering the healing process since there is interconnection in all. Treating the physical symptoms is just a section of the healing process. Suffering also forms part of human life that only ends when they cut links with things from the world.

Sustainable Forest Management Concepts

Sustainable Forest Management Concepts CHAPTER 2 LITERATURE REVIEW 2.1 Background of SFM The sustainable forest management idea has been promoted for the past 20 years in government of Sabah since 1989 but there had not been any serious attempt to put such idea into any effective practice. To solve this challenge, the BN State Government ensured that SFM is implemented in all future forest related activities (SFD, 1998). Seven main elements of SFM which act as a reference framework for sustainable forest management are the extent of forest resources; forest biological diversity; forest health and vitality; productive functions of forest resources; protective functions of forest resources; socio-economic functions of forests; and the legal, policy and institutional framework (Sarre Sabogal, 2013). All the main stakeholders involved in forest management such as: forest managers, government, non-government organizations (NGOs) and other stakeholders need to understand what is SFM mean in order to work together to achieve the objectives (Higman, 2005). FAO had studied almost 80 cases of successful SFM implementation which shown the economic, social and environmental benefits that can be achieved under SFM (Sarre Sabogal, 2013). One of the efforts in practice of SFM is adopted and implemented principles of sound forest management at Deramakot Forest Reserve in Sandakan. The Deramakot Forest Reserve is FMU No.19. It had covered 55,083 hectares of mixed Dipterocarp forest in the east of Sabah (Mannan, Awang, Radin, Abai Lagan, 2002). In 1989, Malaysia- German Sustainable Forest Management Project was extended to Sabah and conducted in Deramakot Forest Reserves. The main goal of this project is to apply an ecologically and scientifically substantiated forest management system (Mapa, 2003). This project was undertaken by the Sabah Forestry Department with the help of forest resource management such as stock inventory, reduced impact logging (RIL), the skyline yarding system, forest rehabilitation and silviculture. Due to the successfu l of SFM at Deramakot, in September 1997, the state Government had an agreement with 10 organizations from private sector which became active partners of the Government to ensure that the SFM practice at Deramakot is extended to other commercial forest areas in Sabah (SFD, 1998). According to Li (2014), SFM aims to ensure that the goods and services derived from forest meet peoples’ needs meanwhile maintain their continued availability and contribution to long-term development. Over the last 10 years, China has made a great amount of achievements in the forest sector based on sustainable forest management concept. For example, China had ranked the sixth in the world in terms of forest stock volume, following by Brazil, Russia, Canada, the United States of America and Democratic Republic of Congo. All these examples show that sustainable forest management concept can help to maintain ecosystem balanced. 2.2 Forest Management Unit (FMU) FMU is clearly defined as forest area which managed to a set of explicit objectives based on a long term management plan. SFM is divided all the commercial forest areas into 27 blocks called Forest Management Units (FMUs). Each FMU is about 100,000 hectares wide (Toh Grace, 2006) and every unit will be managed by selected companies (Mapa, 2003). Currently, the level of the FMU in Peninsular Malaysia is an individual state; in Sabah the FMU area will cover by each Sustainable Forest Management License Agreement (SFMLA); while in Sarawak, the FMU is an individual concession area (Ng, Tong Lim, 2002). 2.3 Forest Management Plan (FMP) FMU divided their forest area into severe compartments. Each compartment has to prepare its own FMP. A FMP is a strategic plan that can provide an overview or description of the forest area and the basis activities for monitoring the forest (Armitage, 1998). FMP can also name as medium-term forest management planning which have a minimum duration of 10 years (Kleine Heuveldop, 1993). FMP translates the forest policy and prepared a well operational program for regulating forest activities. A FMP should include description of forest resource base, the management actions of the resources, review at the mid-point of the plan, review in the final year of the plan and the preparation of a new plan when the present plan expired (Armitage, 1998). FMP is an important strategy which conducted by FMU to well manage the community forest and bring benefits to local communities. 2.4 Community Forestry Community forestry is a village-level forestry activity which also can be defined as the participation of local communities in the planning, establishing, managing and harvesting of forest crops in a forest, so they can receive a major proportion of the socio-economic and ecological benefits from the forest (Nixon, Herbohn Harrison, 2001). The participation of local community is very critical to promote sustainable livelihoods and maintain forest resources (Murdiyarso, 2006). According to Metha (2002), both India and Nepal have a wide variety of forests. At that time, the use of forest is controlled by local community’s traditions. However due to massive loss of forest, the governments of India and Nepal began to take over the forest management authority in the late 1980s. This cause the local communities lost their stewardship. As a result, the community forest programs are implemented to give communities financial stake so they have an incentive to preserve the forest. In 1988, the master plan for Nepal’s program was adopted which states that the forest administration should allow people to have full control over the forest. 2.5 Issues during implementation of SFM concept According to Hickey (2004), during evaluating progress in monitoring and reporting information for SFM, some issues related to forestry such as: trade considerations, socio-economics conditions, forest resource characteristics and forest land ownership need to be considered. There are some challenges faced by local communities who living in the forests for manage the forests sustainability. For example, lack of available land especially those peoples with no legal claim to their native customary right (NCR) of land within forest reserves. These communities are limited from clearing additional land for their use (Toh Grace, 2006). Local communities argued about the forest boundary. They are restricted to enter into the forest to collect forest products (Lintangah, 2013). According to Lintangah (2013), another issue that faced by local communities during implementation of SFM concepts is the relationship with the FMU holders. Local communities have a low level of cooperation because they lack of consultation from FMU holders and some FMU holders begin their activities without permission of local communities. Besides that, lack of understanding about SFM concept among local communities also becomes an issue during implementation of SFM. SFM implementation also brought some impacts to locals such as lack of infrastructure development and maintenance for example road; lack of provision of job opportunities to the local communities and environmental pollution. Richards Yaron (2003) stated that the main problem or issues for sustainable forest management is the failures of market and policy which cause more profitable to cut down trees than to retain or manage them. All these challenges or issues can cause limitation of use right among local communities and occurred conflicts between local communities and forest managers (Duguma, Hager Gruber, 2009). To solve all these conflicts between stakeholders, SRM approaches should be conducted. It is important to conduct a study about the perceptions of communities towards SRM approaches which can help to solve the issues during SFM implementation. Based on Wang (2008), perception is the insight or intuition gained by perceiving. It can be defined as the sixth sense of human beings. Perception is an important cognitive function that can determine personality. 2.6 Stakeholder Relations Management (SRM) The stakeholder relations management approach refers as the framework for analyzing and evaluating a corporation’s relationship with external groups to achieve â€Å"win-win† situations that can benefit everyone (Lintangah, 2013). However, there are usually occurs winners and losers in a complex situations. As a result, stakeholder management approach is conducted for planning and implementing collaborative relationship to obtain win-win outcomes among stakeholders. SRM approach is a response to the growth and progress of corporations to understand how the corporation operates with their stakeholders (Lintangah, 2013). An effective SRM can well-managed the relationship among stakeholders for mutual benefits (Post, Preston Sachs, 2002). The six steps that focus in stakeholder management approach are first identify key stakeholders, describe their stakes in the organization, determine if those stakes are significant, evaluate the opportunities and challenges, determine t he organization’s responsibility to the stakeholder, and finally create relationship strategies (Shannon Thomas, 2015). One of the examples of SRM approaches is Corporate Social Responsibility (CSR) which means â€Å"a voluntary management system used by the companies to incorporate a variety of social, environmental and economic pressures into their business operations and their interaction with their stakeholders† (Lintangah, 2013, p.36). Stakeholder management approaches can help to solve problems related with SFM implementation. Most of the stakeholders feel that the dialogue is one of the useful tools in dealing with their claims and interests besides media and technology. It can solve the conflicts among stakeholders through communicating, negotiating, contracting, managing relationships and motivating (Freeman, 2004). The SRM approaches that conducted under SFM at FMU level included community forestry, joint forest management, CSR programmes, inter-agencies involvement, and contract forestry that will promote and support the SFM implementation at the FMU level. According to Lintangah (2013), the supporting tools for SRM include the Forest Management Plan, Annual Work Plan, related government policies at the state and federal level, the Forest Enactment of 1968, and the Environmental Impact Assessment (EIA). 2.7 Sustainable Forest Management License Agreement (SFMLA) In September 1997, Sustainable Forest Management license Agreement (SFMLA) which is valid for 100 years is formed and replaced the timber license agreement (Toh Grace, 2006). On 10 September 1997, 10 companies had signed SFMLA with the government to show their cooperation in forest management. They were: Yayasan Sabah; Idris Hydraulic (Malaysia) Bhd; TSH Resources Bhd; Sapulut Forest Development Sdn Bhd; Bugaya Forest Sdn Bhd; The North Borneo Timber Corporation Berhad; Modern Innovation Realty Sdn Bhd; Anika Desiran Sdn Bhd; Bornion Timber Sdn Bhd and Timberwell Bhd (SFD, 1998). SFMLA holders are responsible for forest planning, forest inventories, preparation of forest management plans, implementation of the SFM, the establishment and maintenance of infrastructure, the security and protection of the FMU area, the protection and conservation of the unique environment within the SFMLA area, support financial of all the expenses and the accommodation of local communities’ interests (Lintangah, 2013). Under SFMLA, licence holders have to implement community forestry (CF) projects within their respective FMUs. All the companies have to submit annual work plans and harvest plans for each logging plots based on reduced-impact logging systems. All the management and operational plans, especially monitoring the activities of licence holders had to approve by Forestry Department (Toh Grace, 2006).

An Interview with a Juvenile Offender Essay -- Interview Essays

At the age of 23, Charlie has a fairly good life. He has a good job with a national insurance company, and recently married his girlfriend of three and a half years, Autumn. They are expecting their first child this November. But things have not always gone so well for Charlie. When Charlie was two and a half years old, his mother Laura and father Jose Chili Pepper gave birth to their second child, Chloe. Jose and Laura knew there was something wrong with Chloe right away, because of the way she turned her hand, but no doctor in Fudge Brownie, Montana, would confirm Jose and Laura’s suspicion their daughter had Cerebral Palsy. Frustrated and unable to find work, Jose moved his family from Fudge Brownie, Montana back to Watershed, Kansas, where they had originally lived before Chloe was born. The Chili Peppers stayed with Jose's sister Carolina for a time along with Jose's niece Catherine Sanchez and another of his sisters, Juanita. After a short time Jose decided he and his family needed their own place to live. He and Laura packed up eighteen-month-old Chloe and three-and-a-half year-old Charlie and moved to a small house on Sunny Days Avenue where the family lived for the next few years. Charlie loved living in that neighborhood. It was almost like living in the countryside, with little traffic and wide-open fields where Charlie and his friends could run free and be kids. According to Charlie's father Jose, "It was the perfect place for a little boy." But Charlie's happiness would be short-lived. Due to medical problems with his mother and sister, the family moved once again when he was five years old. "Charlie really loved living there and was happy in his first school," Jose recalled. "He was very upset that we had... ...l unloved at times. His parent's when he was eleven only seemed to aggravate the problem. Discipline was inconsistent, and often he was able to get around punishment by wearing down his mother, who could be easily persuaded to give in to what he wanted. Family finances were strained. Although Charlie went to school in an upper middle-class neighborhood, his family could not afford to buy him as much as many of his friends’ parents. He began to run around with kids who were associated with a local gang and was rejected by other friends because of his behavior. Today, Charlie is closer to his family. He spends time with his mother father and sister. His relationship with his wife, Autumn, while occasionally rocky, has been a positive influence. He is a responsible young adult, who has been fortunate to have gotten the intervention he needed as a troubled teenager.

Parallels similarities between the experiences of womenmen in Gileadean and US society Essay

I would like to concur with Atwood that the Gilead society only exist in the land of Gilead alone, and such attributes are not witnessed in the basic American societies even though this concurrence is limited. I will begin by citing Atwood opinion. Firstly, the Gilead society transferred women wealth to their husbands or relatives. Thus, a woman was seen as a property and could not be allowed to own property since she was a property. This is not the case with contemporary US society where women can make significant macroeconomic decisions American women are leaders of large businesses, control large investments and even assume elective posts. I will, therefore, compare the identity issue to makes sure that you understand the differences between American societies and Gilead societies. Unlike in the American society, in the Gileadian society women were highly segregated from one another. For a woman to befriend a fellow woman that relationship was to be made public. As such, their husbands took women as properties. Thus, they expected women to consult them on what choices they would want to make in life. According to Atwood, Gileadian woman would wear uniforms coded to their functions. However, American women have independent decisions. They choose who and who not to relate with. Besides, Audience, Atwood believes that Gilead women were infertile, and they would help their husbands during insemination commonly known as ceremony. The women were only in charge of the household discipline, however, their freedoms since way the feel week they were left to die with no care at all. As well, the women were expected to provide subsequent child catering; as quoted; They would tell Bible stories for children and sing hymns. One of the women was called Serena Joy†¦..was expected to laugh and cry†¦Ã¢â‚¬ ¦in order to teach the children (16) Rather complex, the women of Gilead, who are seen handling complex administrative jobs, for instance, becoming police officers, are still considered properties of men they are working with. As such, the women become rigid, middle-aged who have internalized patriarchal values. In fact, Gilead women are dogmatized to live in a society that does not seem to care about their objectives. Similarly, women of Gilead operate re-education centers; however, they are not mandated to carry out critical decisions concerning education. However, this is not the case their American counterparts. American counterparts contribute positively towards the development of the society. Their decisions are independent. Similarly, the creation and destruction of property rights fundamentally presents legal challenges affecting the women of Gilead. Men, control the Gilead government. Gilead state captures wayward and loose women who can bear birth to the incoming generations; however, they fail to recognize the power and legitimacy of the new regime. Thus, their property is their self and freedoms and as illustrated earlier, the access to money. As a result, women become the property of their husbands if they have one or the state that has their discretion can dispatch them wherever they see them. In this case, males are in power to claim property rights in women who have been foiled. However, in America, women are not treated as fugitives in fact, they present an equal 50/50 power distribution and resources are shared evenly. Ironically, the Gilead regime pretends to respect the feminist philosophy in its treatment of women and the paints a picture of an utopian future that female society turnaround to become the sorority and prevent from being hurt. However, the patriarchy principles in Gilead embrace the paradox of protection in the imprisonment, where women face significant prejudices in the type of decisions that they make. This is not the case with the present American society. Joining Atwood, I prefer Aunt Lydia reflection on what freedom-to-freedom means. Ironically, the commander justifies the Gilead by claiming that women are relevant if they fulfill their biological duties. Literary the commander had married so many women, and had one ceremonial as Atwood is quoted saying At one, level was an almost a caricature of the banality of kitchen talk that could be a scene from a Pinter commender†¦But in the terror-filled austerity of the commander house, it is seductively comforting†¦.note the word seduction. (10) Such a doctrine is rapid, and it indicates how women are considered as a property of the Gilead men communities. American women consider giving birth as a service to the society and not necessary as a reward for a better life. Besides, American women consider giving birth as a way of giving back to the society positively. Equally, audience please be advised that the fascist Republic of Gilead, which differs the contemporary United States society assigns every woman to different classes of women: without their will to protest. The classes are as a follows: wives, belong to the married men who have a superior military rank. These women, despite their will, are treated fairly better than other counterparts are in the society. Secondly, the Gilead society assigns a second class of women, handmaid, econowives or Martha the role of reproduction and matrimony. These women, despite their will, are engaged into hard jobs serving the rich in one way, or another. The group is forcefully married to a lower rank military regime that does not have enough status to obtain a handmaid or aunts function. Even though ironically, Handmaids surrogate for the infertile heterosexuals, as well as, serving as women housekeepers and cooking nannies. To achieve that, the Gilead initiates a dogmatizing religious program, one tha t ordains the reproduction where multiple doctrines are enacted to affirm the system of social rituals. Members, such as absurd society does not exist in America. On the contrary, in America, women are empowered to make decisions concerning the sexuality. As quoted saying †¦Ã¢â‚¬ ¦The flesh arranges itself differently. I am a cloud congealed around a central object, the shape of a pear†¦ (Chapter 13, 43) However, the social complexity of the US, American women control their sexuality and as well, control how they would prefer bringing forth their off springs. Similarly, since Gilead is actively involved in patriarch driven conflicts, most members are either infertile or sterile, it is arguable that men through the subsequent political battles have made their property. As such, subsequent political battles have increased toxic wastes and nuclear fallout, where toxic waste colonies are increased. To hide the truth behind such rituals, the Gilead societies have invoked a biblical ritual called â€Å"The Ceremony.† However, arrogantly, how they conduct their sexual activities is unbecoming. The command penetrates the handmaid exposed sex in an attempt to impregnate a woman. The commander is quoted to have said I’m not talking about sex; he says. That was part of it; the sex was too easy. . . You know what they were complaining about the most (Chapter, 32) This is unbecoming since the woman has been lured to sex. Any sound child born by the handmaid is handled over to the wife of the commander as if the child belonged to the commander’s wife. Such a social setting is very wanting and prompts the question on the role of women in the society. To answer that, American women make independent decisions on how when and where, they want to give birth. American women also make the choice to have sex, when, where and with whom. Nonetheless, despite the complex differences between the Gilead society and the American society, we still notice some similarities. While it is evident that the Gilead society obligates women roles as predominantly domestic, the US society seems to emulate that by assigning women the task of raising children while men are technically exempted from that. Additionally, members you will agree with me that the congress, which happens to be active Christian right is looking for traditional family values. Even though we acknowledge that radical pieces of the Gilead system have not found a way into the American system, it is notable that domestic institutions have secret doctrine women in the Gilead society. A common doctrine is the domestic chore, where the common American woman is made to believe that in order to make a perfect partner, one has to wash the dirt, prepare food, and even entertain a commander called the husband. Men experiences, therefore, are not radical, or in any case equal as those affecting women. It is also disheartening to note that efforts by feminine movements are currently being considered outdated or extremists and are not attracting subsequent influence as they were expected two decades. Efforts to benefit and strengthen the woman counterpart peel away the layers the practice once again set to maintain the domin ant-subordinate relationship. Reference Atwood, Margaret. The Handmaid’s Tale. London: Vintage Classic, 2010. Print. Source document

Research on Baroda dairy product Essay

Executive Summary This project has been undertaken in order to understand the Customer Perception and liking towards Baroda Dairy Products. The task is to know and measure its effectiveness in terms of Price , Quality , Quantity , Packaging , Product availability, Product delivery, Product maintenance (storage), merits and demerits of the existing distribution chain, areas and scope of improvement and finding ways to make the Product more user friendly and Available. There are various ways to carry out this project and reach desired objectives for e. g. , Expert Opinion, In-depth interview with Customers, primary data collection and analysis etc. but out of all these options available for data collection, the method chosen was primary data collection and analysis i. e. questionnaire based data collection and analysis. The reasons for choosing this technique for project are as under: This method gives the opportunity to directly interact with the Customers and helps in knowing what they actually think of the Baroda Dairy Products. The most reliable source of information from all the other mentioned above. Gives a better insight of Customer perception as compared to other technique. This technique will yield an Unbiased, To the Point and Reliable result. It is best to know from the Customers as to what they think about the Existing Product and Satisfaction Level. From this project I came to know about co-operative sector, dairy industry, distribution and handling of highly perishable product like milk. I also came to know what Customers think of current Products and Services of Baroda Dairy. Customer loyalty to Baroda Dairy and its products. I got to know various merits of the existing distribution channel. I also discovered some areas of distribution channel which if worked upon can yield more profitable gains and can also increase the availability of Products. I critically analyzed the answers that were provided by Customers. In order to get quality information, I used questionnaire as a tool which helped me in this project. After collection of the desired data, the data has been critically analyzed to draw conclusion out of mathematical data. The collected data has been categorized and presented in to the meaningful diagrammatic presentations following its proper classification. All these analytical information is subjected to the conclusions following justified interpretation of the results drawn from the statistical tools. Introduction Dairy industry is one of the growing sectors in the Indian Food Processing Industry. This sector Grew at CAGR of 3. 7 % in the last decade. An everyday useful industry which was into rags during 1940s is now one of the most performing industry in the country, courtesy – White Revolution. But still the market is dominated by unorganized sector which contributes about 80% of the total milk marketing in the country. Thus lies a very large scope for the organized sector to enter in this industry. Dairy contributes to 16% of consumer spend on food – 18% in Urban areas of the country and 15% in rural areas. It is one of the most important and exceptionally well performing industries. Each and every state has its own Federation that governs various co-operatives in each state which are into processing of milk and other milk products and the Governing body for these state federations is National Dairy Development Board. One of the main reasons for the progress of dairy industry in India was the white revolution and the Co-operative movement. Also what has added to its development is the linkage it has created between producers and consumers which has eliminated the middle man. Also strengthening of production, procurement, infrastructure and technology has made dairy farming India’s largest self-sustainable rural employment generator. Also it is notable that dairy sector has gained prominence over the years as it delivers one of the most important food product i. e. Milk and its by-products without which it is really very difficult to live. Thus looking at the current scenario, following things can be analyzed: On the production side: Slow growth in productivity likely to increase demand- supply gap There is a need to promote interventions that would increase production efficiencies. Need to secure availability of fodder and high quality breeds. Promoting entrepreneurship in large herd dairy farming – through PPP. There is increasing interest in Intensive dairy farming – increasing demand & farm gate price. On the demand side: Indian dairy market offers diverse opportunities to tap into. Unique nature of the market requires entrepreneurs to study it carefully before entry. India has the credit of being the largest producer as well as the biggest consumer of milk in the world. It also has the world’s largest dairy herd (comprised of cows and buffalos). In 2010-11, livestock generated output worth INR 2,075 billion (at 2004-05 prices) which comprised 4% of the GDP and 26% of the agricultural GDP. India’s milk production accounts for 16% of total global output. The dairy industry is expected to grow 4-5% per annum. A budgetary outlay of INR 31, 560 Crores is recommended by the working group for 12th Five Year Plan of Planning commission of India for animal husbandry and dairy sector to achieve growth rate of 6%. In the past 20 years, milk production in India has doubled and has reached the 116. 2 million tonnes a year thus becoming India’s No. 1 farm commodity. The current market size of the dairy industry is INR 2. 6 trillion and is estimated to grow up to INR 3. 7 trillion by 2015. The matters relating to livestock production, preservation, protection and improvement of livestock & dairy development comes under Department of Animal Husbandry, Dairying & Fisheries of the Ministry of Agriculture, GoI. Value-added products like Whole milk powder, Skimmed milk powder, Condensed milk, Ice cream, Butter and Ghee have immense potential for export. As per the latest statistics of National Dairy Development Board (NDDB), the dairy cooperative network in the country includes 177 milk unions covering 346 districts and over 1, 33,000 village-level societies with a total membership of nearly 14 million farmers. All the statistics given above are indicators of a flourishing dairy sector in India providing suitable opportunities to the industries engaged in the dairy business. India: Milk’s New Horizon A growing population and increased incomes from an economic boom are the driving forces behind a surge in dairy product demand in India. One key to the success of recent consumption trends has been an American standby: the refrigerator. Dairy Demand in an Emerging Economy A new study reports that the demand for milk in India will rise by a compound annual growth rate of about 4% over the next few years (RNCOS, 2012). Research shows that as incomes increase consumption of animal products, specifically milk and dairy products, intensifies (Wenge Fu et al. , 2012). In fact, India’s upturn in demand for dairy products far outweighs the growth in demand for animal products such as meat and eggs. India owes this large demand for milk to its largely vegetarian population. Dairy product demand in India has increased dramatically in both rural and urban sectors. However, as a larger population is emigrating from rural areas to cities an even greater demand may be placed on dairy products. Between 1980 and 2010, India’s level of urbanization increased from 23 to 30 percent of the population. The second largest country in the world, India is projected to grow from 1. 2 billion people in 2010 to just under 1. 7 billion by 2050 with 55% of that population being urban. This increase in buying power allows consumers to purchase durable goods such as refrigerators that enable larger consumption of dairy products than ever before. Moreover, a more urban population also offers the increased opportunity for cultural exchange, leading to increased consumption of meat and dairy products not only in India but across Asia. All of these factors coupled together lead to growing international market opportunities for milk and dairy products in India previously unnoticed in the global dairy industry. India is the world’s largest producer of milk. However, the majority of that milk is buffalo, followed by cow and goat milk as shown in Table 1 (FAOSTAT, 2013). Since 2005, 53% of the fluid milk produced in India has come from buffalo, 43% from cows and 4% from goats. In 2011, India produced 34% more milk than the U. S. up from 19% more in 2005 (Table 2). For dairy cow production, the United States produced 70% more milk in 2011 than India. One study by the OECD-FAO in 2011 suggests that India will have sufficient production to meet demand for milk and its products (excluding butter) through 2020. Nevertheless, as Wenge Fu et al. note, the rapid increase in population and changes in consumption patterns make such estimations difficult. Fluid milk demand is projected to grow at 10. 2% per year, while production is projected to grow by 3. 7% based on 1994 to 2004 growth rates. Competition for land to produce grains and feed products for animal production may limit agricultural growth in all sectors. This pressure on natural resources and its effect on production could lead to a greater reliance on imported dairy products. In the short run, India’s dairy sector is well positioned to accommodate the rapid growth in dairy product consumption. An increasingly urbanized population with a greater disposable income will drive demand leading to opportunities from the global milk market to supply this new generation of Indian consumers. Table 1. India’s Milk Production by Species from 2005 to 2011 in Tonnes (FAOSTAT, 2013) Year Item 2005 2006 2007 2008 2009 2010 2011 Avg Buffalo Milk (whole, fresh) Production in Tonnes 52,070,000 54,382,000 56,630,000 57,132,000 59,201,000 62,350,000 62,350,000 % of total production 54% 55% 54% 53% 53% 53% 52% 53% Cow Milk (whole, fresh) Production in Tonnes 39,759,000 41,148,000 44,601,000 47,006,000 47,825,000 49,960,000 52,500,000 % of total production 42% 41% 42% 43% 43% 43% 44% 43% Goat Milk (whole, fresh) Production in Tonnes 3,790,000 3,818,000 4,481,000 4,478,000 4,467,000 4,594,000 4,594,000 % of total production 4% 4% 4% 4% 4% 4% 4% 4% Total Production in Tonnes 95,619,000 99,348,000 105,712,000 108,616,000 111,493,000 116,904,000 119,444,000 Table 2. Milk Production in India and the United States from 2005 to 2011 (FAOSTAT, 2013) Year Country 2005 2006 2007 2008 2009 2010 2011 All Milk Production in Tonnes India 95,619,000 99,348,000 105,712,000 108,616,000 111,493,000 116,904,000 119,444,000 USA 80,254,500 82,463,000 84,189,100 86,177,400 85,880,500 87,474,400 89,015,200 % Difference between India and U. S. 19% 20% 26% 26% 30% 34% 34% Cow Milk Production in Tonnes India 39,759,000 41,148,000 44,601,000 47,006,000 47,825,000 49,960,000 52,500,000 USA 80,254,500 82,463,000 84,189,100 86,177,400 85,880,500 87,474,400 89,015,200 % Difference between U. S. and India 102% 100% 89% 83% 80% 75% 70% As we have already seen how the production of milk and its consumption have increased over the past decade thus the problem of it distribution and availability also arises. This brings the problem of Effective distribution channel into light. For the same purpose the study has been undertaken in order to Measure the Effectiveness of the Distribution System of Baroda Dairy. Introduction to Gujarat Cooperative Milk Marketing Federation Ltd. The GCMMF is the largest food products marketing organisation of India. It is the apex organisation of the Dairy Cooperatives of Gujarat. Over the last five and a half decades, Dairy Cooperatives in Gujarat have created an economic network that links more than 3. 1 million village milk producers with millions of consumers in India. The cooperatives collect on an average 9. 4 million litres of milk per day from their producer members, more than 70% of whom are small, marginal farmers and landless labourers and include a sizeable population of tribal folk and people belonging to the scheduled castes. The turnover of GCMMF (AMUL) during 2010–11 was 97. 74 billion (US$1. 7 billion). It markets the products, produced by the district milk unions in 30 dairy plants. The farmers of Gujarat own the largest state of the art dairy plant in Asia – Mother Dairy, Gandhinagar, Gujarat – which can handle 3. 0 million litres of milk per day and process 160 MTs of milk powder daily. GCMMF is a unique organization which is created by farmers, managed by competent professionals serving a very competitive and challenging consumer market. It is a true testimony of synergistic national development through the practice of modern management methods. GCMMF Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF), is India’s largest food product marketing organisation with annual turnover (2012-13) US$ 2. 54 billion. Its daily milk procurement is approx 13 million lit per day from 16914 village milk cooperative societies, 17 member unions covering 24 districts, and 3. 18 million milk producer members. It is the Apex organisation of the Dairy Cooperatives of Gujarat, popularly known as ‘AMUL’, which aims to provide remunerative returns to the farmers and also serve the interest of consumers by providing quality products which are good value for money. Its success has not only been emulated in India but serves as a model for rest of the World. It is exclusive marketing organisation of ‘Amul’ and ‘Sagar’ branded products. It operates through 48 Sales Offices and has a dealer network of 5000 dealers and 10 lakh retailers, one of the largest such networks in India. Its product range comprises milk, milk powder, health beverages, ghee, butter, cheese, Pizza cheese, Ice-cream, Paneer, chocolates, and traditional Indian sweets, etc. GCMMF is India’s largest exporter of Dairy Products. It has been accorded a â€Å"Trading House† status. Many of our products are available in USA, Gulf Countries, Singapore, The Philippines, Japan, China and Australia. GCMMF has received the APEDA Award from Government of India for Excellence in Dairy Product Exports for the last 13 years. For the year 2009-10, GCMMF has been awarded â€Å"Golden Trophy† for its outstanding export performance and contribution in dairy products sector by APEDA. For its consistent adherence to quality, customer focus and dependability, GCMMF has received numerous awards and accolades over the years. It received the Rajiv Gandhi National Quality Award in1999 in Best of All Category. In 2002 GCMMF bagged India’s Most Respected Company Award instituted by Business World. In 2003, it was awarded the The IMC Ramkrishna Bajaj National Quality Award – 2003 for adopting noteworthy quality management practices for logistics and procurement. GCMMF is the first and only Indian organisation to win topmost International Dairy Federation Marketing Award for probiotic ice cream launch in 2007. The Amul brand is not only a product, but also a movement. It is in one way, the representation of the economic freedom of farmers. It has given farmers the courage to dream. To hope. To live. GCMMF – An Overview