Mumbai, June 25 (IANS) Director Priyadarshan admits he had written the female lead of his forthcoming 'Billo Barber' with favourite actress Tabu in mind but had to settle for Lara Dutta instead due to date problems.
Priyadarshan and Tabu have done great work together in films like 'Viraasat' and 'Kala Pani'. The versatile actress even agreed to do an inconsequential role in 'Hera Pheri' only for Priyadarshan's sake.
'Billo Barber' is being produced by superstar Shah Rukh Khan and Priyadarshan wanted Tabu to star in it. But after she opted out, Lara bagged the role.
Said Priyadarshan: 'It's a role of a full-on firebrand village girl. And it's patterned on Tabu's role in my 'Viraasat'. I've to admit I think of Tabu for every female lead. But Lara is sensitive and strong enough to carry this role off with elan.'
He said that Lara plays the wife of a barber, portrayed by Irrfan Khan.
'Though the character belongs to a higher caste, she defies social norms and the diktats of the village to marry a barber. Lara's sophisticated image hasn't come in the way of her performance at all. She'll shock you,' said Priyadarshan.
Shah Rukh also stars in 'Billo Barber', but not opposite Lara.
Said a source close to the project: 'There was a certain amount of reservation about the part when Lara heard it was opposite Irrfan. Lara is extremely conscious of her co-stars' status. Earlier she had refused Anil Kapoor's 'Short Cut' with Arshad Warsi.
'But the temptation of being in the same film with Shah Rukh prevailed. She had never been in any film with him and he's producing 'Billo Barbar'. She sees this as stepping stone to a film with Shah Rukh.'
Earlier Lara had done a walk-on part in 'Fanaa' and admitted she had done it to work with Aamir Khan and to gain an entry into Yash Raj Films. And very soon she got a full-fledged role in 'Jhoom Baraabar Jhoom' with the illustrious banner.
Thursday, July 31, 2008
Wednesday, July 23, 2008
Relationship between plant layout and material handling
There is a close connection between the concepts of plant layout and material handling. A good plant structure can ascertain the least material handling process and inexpensive material handling equipment. The material handling factors to be considered while designing the plant layout are:
1) Excessive material movement damages the materials and causes loss of valuable man-hours in shifting materials. A layout should be designed such that it suits the manufacturing requirement of the products and reduces the material handling to minimum.
2) If the workers are compelled to search through the entire workshop for a particular material, their productive time is bound to go wasted. For maximum utilization of their time the plant should be equipped with:
a) Clearly identified and well-named functional areas.
b) Distinct areas for raw materials, tools, work-in-process, inspection and finished goods.
3) For an effective and speedy movement of materials there should be an effective use of:
a) Bins, trolleys, racks and trays to keep materials instead of placing them on floors
b) Proper packaging techniques before dispatching
c) Conveyors, chutes, inclined planes and gravity feed bins to automate, materials
movement.
4) Public utilities should be located at easily accessible distances and should not
require distant walks on part of the workers
5) Economical use of space should be aimed. Machines and equipments should be
placed in such a way that there is a minimal or no wastage of space and yet there
should be optimum choice for expansion.
6) Maximum opportunity for greater width of aisles, heights of ceilings and other
areas of storage so the need of later alterations will be reduced
A good plant layout thus facilitates an efficient material handling system. It offers minimum material handling by making material movements shorter, faster and economical. Overcrowding is prevented. Delays in supplying are avoided due smooth manufacturing activity and hence it is generally desirable to adopt a good plant layout that facilities minimum handling.
1) Excessive material movement damages the materials and causes loss of valuable man-hours in shifting materials. A layout should be designed such that it suits the manufacturing requirement of the products and reduces the material handling to minimum.
2) If the workers are compelled to search through the entire workshop for a particular material, their productive time is bound to go wasted. For maximum utilization of their time the plant should be equipped with:
a) Clearly identified and well-named functional areas.
b) Distinct areas for raw materials, tools, work-in-process, inspection and finished goods.
3) For an effective and speedy movement of materials there should be an effective use of:
a) Bins, trolleys, racks and trays to keep materials instead of placing them on floors
b) Proper packaging techniques before dispatching
c) Conveyors, chutes, inclined planes and gravity feed bins to automate, materials
movement.
4) Public utilities should be located at easily accessible distances and should not
require distant walks on part of the workers
5) Economical use of space should be aimed. Machines and equipments should be
placed in such a way that there is a minimal or no wastage of space and yet there
should be optimum choice for expansion.
6) Maximum opportunity for greater width of aisles, heights of ceilings and other
areas of storage so the need of later alterations will be reduced
A good plant layout thus facilitates an efficient material handling system. It offers minimum material handling by making material movements shorter, faster and economical. Overcrowding is prevented. Delays in supplying are avoided due smooth manufacturing activity and hence it is generally desirable to adopt a good plant layout that facilities minimum handling.
Monday, July 21, 2008
Defination :
Section 2(d) of the Indian Contract Act defines consideration as follows, “When at the desire of the promiser, the promisee or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing, something, such act or abstinences or promise is called a consideration for the promise.”
A stranger to a contract cannot sue:
A person may be a stranger to the consideration but he should not be a stranger to the contract because 'privity of contract' is essential for enforcing any of the rights arising out of the contract. It being a fundamental principle of the law of contracts that' a stranger to a contract cannot sue, only a person who is a party to a contract can sue on it. Thus, where A mortgages his property to B in consideration of B's promise to A to pay A's debt to C, C cannot file a suit against B to enforce his promise, C being no party to the contract between A and B (Iswaram Pillai vs Sonnivaveru7)
Exceptions: The above rule that 'a stranger to a contract cannot sue' is subject to the following exceptions:
(i) Where an express or implied trust is created. In case of a trust, the beneficiary can sue in his own right to enforce his rights under the trust, though he was not a party to the contract between the settler and the trustees.
Illustrations. (a) A transfers certain properties to B to be held by B in trust for the benefit of M. M can enforce the agreement i.e., trust (At. K. Rapai vs John8).
(h) An addressee of an insured article is entitled to sue the Post Office in case of loss, as on receipt of such article, the Post Office becomes in Jaw a constructive trustee for the addressee (Ami" Ullah vs Central Govt.9).
(ii) Family settlement. Where a provision is made in a pal1ition or family arrangement for maintenance or marriage expenses of female members; such members, though not parties to the agreement, can sue on the footing of the arrangement.
Illustration. A daughter along with her husband entered into a contract with her father whereby it was agreed that she will maintain her mother and the property of the father will be conveyed to them. The daughter subsequently refused to maintain the mother. On a suit it was held that the mother was entitled to require her daughter to maintain her, though she was a stranger to the contract (Veeramma vs Appayya).10
(iii) When the defendant constitutes himself, as the agent of the third party. Thus if A receives some money from B to be paid over to C and he admits of this receipt to C, then C can recover this amount from A who shall be regarded as the agent of C (Surjan vs Nanat). II.
(iv) In case of agency. Where a contract is entered into by an agent, the principal can sue on it.
(v) In case of assignment of rights under a contract in favour of a third party either voluntarily or by operation of law, the assignee can enforce the benefits of the contract, e.g., the assignee of an insurance policy or the official assignee on the insolvency of a person can. sue on the contract even though originally they were not parties to it.
Section 2(d) of the Indian Contract Act defines consideration as follows, “When at the desire of the promiser, the promisee or any other person has done or abstained from doing, or does or abstains from doing, or promises to do or to abstain from doing, something, such act or abstinences or promise is called a consideration for the promise.”
A stranger to a contract cannot sue:
A person may be a stranger to the consideration but he should not be a stranger to the contract because 'privity of contract' is essential for enforcing any of the rights arising out of the contract. It being a fundamental principle of the law of contracts that' a stranger to a contract cannot sue, only a person who is a party to a contract can sue on it. Thus, where A mortgages his property to B in consideration of B's promise to A to pay A's debt to C, C cannot file a suit against B to enforce his promise, C being no party to the contract between A and B (Iswaram Pillai vs Sonnivaveru7)
Exceptions: The above rule that 'a stranger to a contract cannot sue' is subject to the following exceptions:
(i) Where an express or implied trust is created. In case of a trust, the beneficiary can sue in his own right to enforce his rights under the trust, though he was not a party to the contract between the settler and the trustees.
Illustrations. (a) A transfers certain properties to B to be held by B in trust for the benefit of M. M can enforce the agreement i.e., trust (At. K. Rapai vs John8).
(h) An addressee of an insured article is entitled to sue the Post Office in case of loss, as on receipt of such article, the Post Office becomes in Jaw a constructive trustee for the addressee (Ami" Ullah vs Central Govt.9).
(ii) Family settlement. Where a provision is made in a pal1ition or family arrangement for maintenance or marriage expenses of female members; such members, though not parties to the agreement, can sue on the footing of the arrangement.
Illustration. A daughter along with her husband entered into a contract with her father whereby it was agreed that she will maintain her mother and the property of the father will be conveyed to them. The daughter subsequently refused to maintain the mother. On a suit it was held that the mother was entitled to require her daughter to maintain her, though she was a stranger to the contract (Veeramma vs Appayya).10
(iii) When the defendant constitutes himself, as the agent of the third party. Thus if A receives some money from B to be paid over to C and he admits of this receipt to C, then C can recover this amount from A who shall be regarded as the agent of C (Surjan vs Nanat). II.
(iv) In case of agency. Where a contract is entered into by an agent, the principal can sue on it.
(v) In case of assignment of rights under a contract in favour of a third party either voluntarily or by operation of law, the assignee can enforce the benefits of the contract, e.g., the assignee of an insurance policy or the official assignee on the insolvency of a person can. sue on the contract even though originally they were not parties to it.
“Management and Administration”
The late President of United States highlighted management; John F. Kennedy when he said that, .the role of management in our society is critical in human progress. It serves to identify a great need of our time: to improve standards of living for all people through effective utilisation of human and material sources. Similarly, Peter F. Drucker, a noted management authority has emphasised the importance of management to social living. He proclaimed nearly 25 years ago that, "effective management was becoming the main resource, of developed nations and that it was the most needed' resource for developing nations."
A manager's job is "highly crucial to the success of any organisation. the more complex the organisation, the more crucial is the manager's role in it. A good manager makes things happen. The importance of management in any organisation was emphasised byProfessor Leonard R. Sayles in his address to a group of management development specialists, as follows:
"We must find ways of convincing society as a whole, and those who train managers in particular, that the real leadership problems of our institutions-the getting things done, the implementation, the evolving of a consensus, the making of the right decisions at the right time with the right people-are where the action is. Although we as a society haven't learned to give much credit to managers, I hope we can move toward recognising that managerial and leadership jobs are among the most critical tasks of our society. As such, they deserve the professional status that we give to more traditional fields of knowledge."
MANAGEMENT DEFINED:-
Many management thinkers have defined management in their own ways. For example, Van Fleet and Peterson define management, "as a set of activities directed at the efficient and effective utilisation of resources 'in the pursuit of one or more goals.
Managerial
Activities
Financial
Resources
Effective and
Efficient
Utilisation
Human
Resources
Physical
Resources
Goals
Informational
Resources
THE COMPONENTS OF MANAGEMENT
Megginson, Mosley and pietri define management as “working with human, financial and physical resource to achieve organizational objectives by performing the planning, organizing, leading and controlling functions.” Shows the megginson, monsley and pietri definition of management.
Planning
Organising
Leading
Controlling
Human Financial
And physical
Recourses
Goals
Management
MEGGINSON, MOSLEY AND PIETRI MANAGEMENT DEFINITION
Kreitner considers management as a Problem solving process. He defines management as follow:-
"Management is a problem' solving process of effectively achieving Organizational objective’s through the efficient use of scarce resources in a changing environment."
Some of the integral elements of this definition can be separated and briefly explained as follows:
PROBLEM SOLVING PROCESS: -
One of the most important functions of a manager is to make decisions and solve problem Some- of the major problems that management must continually face "include unpredictable economic trend's 'changing governmental regulations, resource shortage and a severe competition for these resources, employee demands technical problems, technological developments and so on, There are other problems that are comparatively routine in-nature and can be solved by some tried and tested mechanisms. For example, a change in production quality can be easily looked into and the process corrected or modified or changed if necessary. On the other hand, an increase in employee grievances or employee absenteeism or turnover may require carefully studied unique solutions.
ORGANIZATIONAL OBJECTIVES:-
All organizational have a mission that is very basic reason for their existence' and certain goals and objective while goals are 'long' range and 'more general in nature, objectives are more specific, tangible and most often quantifiable. For example, the mission of a college may be high quality education, its goal may be to primarily serve the educational needs of the surrounding community and its objective may be to increase the number of new students entering the college by ten per cent in two years. The primary objective of most organizational is "to provide a service .for the public. Of course such service has to be- profitable for the organization in monetary terms; 'for that is the essence of a capitalist economy. Accordingly, management must plan its activities along these lines, additionally; it is also the management’s responsibility to integrate the personal objective of employee into organizational objectives. The personal objective of the employee may include higher remuneration, more challenging tasks and responsibilities and participation in the decision making process.
EFFICIENCY:-
Efficiency along with most common way of measuring organizational performance. Efficiency is ability to get thing done correct. An efficiency manager achieve a higher out put with given resource of time, talent and capital. So that this resource are fully utilized without waste. Similarly effectiveness means” doing the right thing in a right way at the right time. Accordingly successful managers would not only be effective in terms of selecting the right things to do and the right method for getting them done, buy they would be efficient in fully utilizing resources.
6. SCARE RESOURCE :-
The resource of people time capital and raw material all finite and limited. They are all scare in nature and are not expandable additionally, they are in fierce competition for acquiring these recourse.
7. CHANGING ENVIRONMENT:-
the dynamic of the environment is evidenced by the changing that have taken place in all areas in last few years. The advent of computer and telecommunication technology had change the way in which assessment of the environment in carried out for discussion making purpose, Accordingly, management must be prepared to predict accurately these changes and formulate ways to meet these new challenges more effectively.
MANAGEMENT AND ADMINISTRATION:-
The terms 'management' and 'administration' are often used synonymously. According to Dalton E. McFarland "In business firms, administration refers to higher, policy determining level. One seldom regards the first-line supervisor as an administrator, instead he is a manager. In the health care fields and in many service organization, problems (such as individual's chronic disease) are managed but programmers (such as flu vaccine distribution) are administered".
Administration may be defined as "the guidance, leadership and control of the efforts" of a group of individuals towards some common goals'. Often the terms administration and management are used together as administrative management. Administrative Management is different from 'operative management', which is concerned with the operational aspects of a business. Some experts like Oliver and Sheldon distinguished administration from management by suggesting definition of their own.
THE DEFINITION
Administration is defined as a function of an organisation that is concerned with policy determination, co-ordination of finances, production, distribution and control of the executives that are required for establishing an organisation. Contrary to this, management is the process that is concerned with the execution of the policies within certain limits set by the administration and employment of the organizationfor the purpose of accomplishing objectives laid down by the administration.
ESSENCE OF ADMINISTRATION:-
Ordway Tead has analysed the process of administration into distinct elements, which are:
Establishing the objectives of an organisation
Formulating broad policies for an organisation
Stimulating the organization.
Evaluating the performance of an organization
Looking head
Thus management action is directed towards attainting aims and objectives that are laid down by administration. It is there fore; clear that administration is more important at higher levels whereas management is more important at lower levels in the firm’s organizational pyramid.
The administration is a top-level wile management is a bottom level function. The fundamental point of distention between these two aspects is that former is the process of formulating policies and goals of the organization while the latter directs and guides of operation and functional aspect of the organization toward achieve the objectives set former.
A closer look reveals that the scope of management is broader than that of administration it is true that planning valid that every level of management, irrespective of its hierarchy is the organizational set up has to do some sort of planning and policy making along with their execution, therefore management includes both administrative and management and operative management.
A manager's job is "highly crucial to the success of any organisation. the more complex the organisation, the more crucial is the manager's role in it. A good manager makes things happen. The importance of management in any organisation was emphasised byProfessor Leonard R. Sayles in his address to a group of management development specialists, as follows:
"We must find ways of convincing society as a whole, and those who train managers in particular, that the real leadership problems of our institutions-the getting things done, the implementation, the evolving of a consensus, the making of the right decisions at the right time with the right people-are where the action is. Although we as a society haven't learned to give much credit to managers, I hope we can move toward recognising that managerial and leadership jobs are among the most critical tasks of our society. As such, they deserve the professional status that we give to more traditional fields of knowledge."
MANAGEMENT DEFINED:-
Many management thinkers have defined management in their own ways. For example, Van Fleet and Peterson define management, "as a set of activities directed at the efficient and effective utilisation of resources 'in the pursuit of one or more goals.
Managerial
Activities
Financial
Resources
Effective and
Efficient
Utilisation
Human
Resources
Physical
Resources
Goals
Informational
Resources
THE COMPONENTS OF MANAGEMENT
Megginson, Mosley and pietri define management as “working with human, financial and physical resource to achieve organizational objectives by performing the planning, organizing, leading and controlling functions.” Shows the megginson, monsley and pietri definition of management.
Planning
Organising
Leading
Controlling
Human Financial
And physical
Recourses
Goals
Management
MEGGINSON, MOSLEY AND PIETRI MANAGEMENT DEFINITION
Kreitner considers management as a Problem solving process. He defines management as follow:-
"Management is a problem' solving process of effectively achieving Organizational objective’s through the efficient use of scarce resources in a changing environment."
Some of the integral elements of this definition can be separated and briefly explained as follows:
PROBLEM SOLVING PROCESS: -
One of the most important functions of a manager is to make decisions and solve problem Some- of the major problems that management must continually face "include unpredictable economic trend's 'changing governmental regulations, resource shortage and a severe competition for these resources, employee demands technical problems, technological developments and so on, There are other problems that are comparatively routine in-nature and can be solved by some tried and tested mechanisms. For example, a change in production quality can be easily looked into and the process corrected or modified or changed if necessary. On the other hand, an increase in employee grievances or employee absenteeism or turnover may require carefully studied unique solutions.
ORGANIZATIONAL OBJECTIVES:-
All organizational have a mission that is very basic reason for their existence' and certain goals and objective while goals are 'long' range and 'more general in nature, objectives are more specific, tangible and most often quantifiable. For example, the mission of a college may be high quality education, its goal may be to primarily serve the educational needs of the surrounding community and its objective may be to increase the number of new students entering the college by ten per cent in two years. The primary objective of most organizational is "to provide a service .for the public. Of course such service has to be- profitable for the organization in monetary terms; 'for that is the essence of a capitalist economy. Accordingly, management must plan its activities along these lines, additionally; it is also the management’s responsibility to integrate the personal objective of employee into organizational objectives. The personal objective of the employee may include higher remuneration, more challenging tasks and responsibilities and participation in the decision making process.
EFFICIENCY:-
Efficiency along with most common way of measuring organizational performance. Efficiency is ability to get thing done correct. An efficiency manager achieve a higher out put with given resource of time, talent and capital. So that this resource are fully utilized without waste. Similarly effectiveness means” doing the right thing in a right way at the right time. Accordingly successful managers would not only be effective in terms of selecting the right things to do and the right method for getting them done, buy they would be efficient in fully utilizing resources.
6. SCARE RESOURCE :-
The resource of people time capital and raw material all finite and limited. They are all scare in nature and are not expandable additionally, they are in fierce competition for acquiring these recourse.
7. CHANGING ENVIRONMENT:-
the dynamic of the environment is evidenced by the changing that have taken place in all areas in last few years. The advent of computer and telecommunication technology had change the way in which assessment of the environment in carried out for discussion making purpose, Accordingly, management must be prepared to predict accurately these changes and formulate ways to meet these new challenges more effectively.
MANAGEMENT AND ADMINISTRATION:-
The terms 'management' and 'administration' are often used synonymously. According to Dalton E. McFarland "In business firms, administration refers to higher, policy determining level. One seldom regards the first-line supervisor as an administrator, instead he is a manager. In the health care fields and in many service organization, problems (such as individual's chronic disease) are managed but programmers (such as flu vaccine distribution) are administered".
Administration may be defined as "the guidance, leadership and control of the efforts" of a group of individuals towards some common goals'. Often the terms administration and management are used together as administrative management. Administrative Management is different from 'operative management', which is concerned with the operational aspects of a business. Some experts like Oliver and Sheldon distinguished administration from management by suggesting definition of their own.
THE DEFINITION
Administration is defined as a function of an organisation that is concerned with policy determination, co-ordination of finances, production, distribution and control of the executives that are required for establishing an organisation. Contrary to this, management is the process that is concerned with the execution of the policies within certain limits set by the administration and employment of the organizationfor the purpose of accomplishing objectives laid down by the administration.
ESSENCE OF ADMINISTRATION:-
Ordway Tead has analysed the process of administration into distinct elements, which are:
Establishing the objectives of an organisation
Formulating broad policies for an organisation
Stimulating the organization.
Evaluating the performance of an organization
Looking head
Thus management action is directed towards attainting aims and objectives that are laid down by administration. It is there fore; clear that administration is more important at higher levels whereas management is more important at lower levels in the firm’s organizational pyramid.
The administration is a top-level wile management is a bottom level function. The fundamental point of distention between these two aspects is that former is the process of formulating policies and goals of the organization while the latter directs and guides of operation and functional aspect of the organization toward achieve the objectives set former.
A closer look reveals that the scope of management is broader than that of administration it is true that planning valid that every level of management, irrespective of its hierarchy is the organizational set up has to do some sort of planning and policy making along with their execution, therefore management includes both administrative and management and operative management.
Saturday, July 19, 2008
INFORMATION TECHNOLOGY IN BANKING SECTOR
In today’s banking word there is increasing demand and importance for Information Technology (IT) due to many features, which ultimately helps banks to reduce its heavy costs for providing maximum number of transactions and services to customer for maximum time. To survive in healthy banking competition, no one can bring their bank upward without having IT in their system. IT is necessity of any bank to serve their customers & to reduce unwanted cost. Many programmers are available to provide customer satisfaction. It not only provides quick and fast service but also reduce transaction cost and large paper work.
In the sixties and seventies the banking industry was fiercely competitive as ever was losing the battle of providing good customer services due to impossibly heavy workloads. All major banks already had branches in most major locations and they simply had to recruit more and more staff to cope with the increasing number of customers. The accepted wisdom was that cost was the main basis for competition and so the banks were making strenuous efforts to reduce operational costs, kicking off the process by computerizing customer accounts. ATMs made it easy to deposit and withdraw money, check balances, request statements etc. and coupled with the added advantage of round the clock availability, they not only reduced staff workloads but save customers a new experience of hassle-free banking.
The banking sector has come a long way since then. Now almost all banks are using services from IT to reduce it’s cost It is now one of the largest users of information technology. Some of the areas where banks typically use IT to reduce cost of operations & heavy workload are mentioned below:
1) Back office computerization: Nowadays, almost all Indian and international banks run on fully integrated and online systems where all back office operations like accounts posting, reconciliation, clearing house operations, etc., are completely automated.
2) Front office computerization: All banks provide facilities like instant account statement, making fixed deposits, electronic funds transfer, direct debit facility, etc. to their customers.
3) Automatic Teller Machines (ATMs): These computerised machines enable customers to do their regular bank transactions (like depositing and withdrawing money, ascertaining current account balance, etc.) without visiting a bank branch. ATMs considerably reduce costs for banks (employee cost, space cost, etc.) and provide better level of service to customers (by enabling 24 hour banking access at numerous locations).
4) Net Banking: Most banks like HSBC, Standard Chartered, HDFC, ICICI etc., have extremely user friendly websites where the typical banking transaction (like cash delivery, generating account statements, requests for cheque books and drafts etc.) can be carried out online without visiting the bank. This innovative use of IT has meant that effectively, customers have no need to personally visit the bank for routine banking transactions, which reduce time consumption, inconvenience for customers as well as reduce employee welfare cost in bank.
In the sixties and seventies the banking industry was fiercely competitive as ever was losing the battle of providing good customer services due to impossibly heavy workloads. All major banks already had branches in most major locations and they simply had to recruit more and more staff to cope with the increasing number of customers. The accepted wisdom was that cost was the main basis for competition and so the banks were making strenuous efforts to reduce operational costs, kicking off the process by computerizing customer accounts. ATMs made it easy to deposit and withdraw money, check balances, request statements etc. and coupled with the added advantage of round the clock availability, they not only reduced staff workloads but save customers a new experience of hassle-free banking.
The banking sector has come a long way since then. Now almost all banks are using services from IT to reduce it’s cost It is now one of the largest users of information technology. Some of the areas where banks typically use IT to reduce cost of operations & heavy workload are mentioned below:
1) Back office computerization: Nowadays, almost all Indian and international banks run on fully integrated and online systems where all back office operations like accounts posting, reconciliation, clearing house operations, etc., are completely automated.
2) Front office computerization: All banks provide facilities like instant account statement, making fixed deposits, electronic funds transfer, direct debit facility, etc. to their customers.
3) Automatic Teller Machines (ATMs): These computerised machines enable customers to do their regular bank transactions (like depositing and withdrawing money, ascertaining current account balance, etc.) without visiting a bank branch. ATMs considerably reduce costs for banks (employee cost, space cost, etc.) and provide better level of service to customers (by enabling 24 hour banking access at numerous locations).
4) Net Banking: Most banks like HSBC, Standard Chartered, HDFC, ICICI etc., have extremely user friendly websites where the typical banking transaction (like cash delivery, generating account statements, requests for cheque books and drafts etc.) can be carried out online without visiting the bank. This innovative use of IT has meant that effectively, customers have no need to personally visit the bank for routine banking transactions, which reduce time consumption, inconvenience for customers as well as reduce employee welfare cost in bank.
Friday, July 18, 2008
REQUIREMENTS OF DATABASE
Requirements of database help in determining the prerequisites before storing the data in
the database. Following are the requirements for database management.
1) Non-redundancy
As already suggested, non-redundancy is beneficial in eliminating the contradictions and in saving storage space. Occasionally, amount of redundancy is acceptable such as when the need for data security or rapid access is paramount.
2) Data independence
This means that the data and the programs are independent, which means that the data can be moved or restructured without the need to make alterations to the programs. Similarly an enforced program change does not call for rearrangement of the data layout. If there is no data independency, then a program requiring more data items from a file necessitates rearranging it, and consequently other programs have to be modified to cope with the rearrangement of the file.
3) Program usage
A database needs to be usable by not only all the existing applications but also by all foreseeable applications. These are ambitious aims, but nonetheless a database must be open-ended so as to accept new sets of data items and change to the existing data item sets.
4) Data Inter-relationships
Data inter-relationships are necessary because of the fact that various applications use data in different ways. For example, one application may demand a link between an employee's name and his pension contribution, another between his tax payment and his previous employer. Requirements such as these impose stringent demands upon the database's accuracy, security and flexibility.
5) Common approach
Common approach is based on simplicity and understanding of data and programs. Although application programmers are not concerned with .the database's structure and techniques, a common approach simplifies the database control programs and facilitates the database administrator's work.
the database. Following are the requirements for database management.
1) Non-redundancy
As already suggested, non-redundancy is beneficial in eliminating the contradictions and in saving storage space. Occasionally, amount of redundancy is acceptable such as when the need for data security or rapid access is paramount.
2) Data independence
This means that the data and the programs are independent, which means that the data can be moved or restructured without the need to make alterations to the programs. Similarly an enforced program change does not call for rearrangement of the data layout. If there is no data independency, then a program requiring more data items from a file necessitates rearranging it, and consequently other programs have to be modified to cope with the rearrangement of the file.
3) Program usage
A database needs to be usable by not only all the existing applications but also by all foreseeable applications. These are ambitious aims, but nonetheless a database must be open-ended so as to accept new sets of data items and change to the existing data item sets.
4) Data Inter-relationships
Data inter-relationships are necessary because of the fact that various applications use data in different ways. For example, one application may demand a link between an employee's name and his pension contribution, another between his tax payment and his previous employer. Requirements such as these impose stringent demands upon the database's accuracy, security and flexibility.
5) Common approach
Common approach is based on simplicity and understanding of data and programs. Although application programmers are not concerned with .the database's structure and techniques, a common approach simplifies the database control programs and facilitates the database administrator's work.
Thursday, July 17, 2008
The objectives and requirements of the Database
DATABASE CONCEPT
A database is an organized collection of data. The term originated within the computer industry. In other words, a database is a collection of records stored on a computer in a systematic way. The computer program used to manage and query a database is known as a Database Management System (DBMS). The central concept of a database is that of a collection of records or pieces of knowledge. A great deal of the internal engineering of a DBMS, however, is independent of the data model and is concerned with managing factors such as performance, concurrency, integrity and recovery from hardware failures.
OBJECTIVES OF DATABASE
Below mentioned are some objectives of Database.
1) Database should permit the establishment of a single area for common information that is used by all authorized users.
2) It should allow important information to be recorded on floppy disk, magnetic disk, or mass storage, while secondary records are maintained on magnetic tape or other low-cost storage medium.
3) It should guarantee accuracy of updating by an automatic maintenance feature for all segments of the data file.
4) It should allow variable-length records in order to conserve space.
5) It should have provision for expanding or reducing files, both the number of records in the file and the data elements in each record.
6) It should allow security of files or segments of files.
7) There must be a provision for some types of lockout feature so that certain files or areas of files or even individual records cannot be accessed during updating.
A database is an organized collection of data. The term originated within the computer industry. In other words, a database is a collection of records stored on a computer in a systematic way. The computer program used to manage and query a database is known as a Database Management System (DBMS). The central concept of a database is that of a collection of records or pieces of knowledge. A great deal of the internal engineering of a DBMS, however, is independent of the data model and is concerned with managing factors such as performance, concurrency, integrity and recovery from hardware failures.
OBJECTIVES OF DATABASE
Below mentioned are some objectives of Database.
1) Database should permit the establishment of a single area for common information that is used by all authorized users.
2) It should allow important information to be recorded on floppy disk, magnetic disk, or mass storage, while secondary records are maintained on magnetic tape or other low-cost storage medium.
3) It should guarantee accuracy of updating by an automatic maintenance feature for all segments of the data file.
4) It should allow variable-length records in order to conserve space.
5) It should have provision for expanding or reducing files, both the number of records in the file and the data elements in each record.
6) It should allow security of files or segments of files.
7) There must be a provision for some types of lockout feature so that certain files or areas of files or even individual records cannot be accessed during updating.
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