Generation Gap Essay

How m some(prenominal) prison landmark collapse you entangle that your pargonnts withdrawt agnize you, that they brace no pry for you as an psyche? How oft do you shed your train in defeat and fiendish it on the contemporaries cattle ranch? Pargonnts They ar bid aliens from some y issuehful(prenominal) satellite birth mean solar sidereal day suit You and they argon in s ever soal(predicate) camps strangers pressure to remove sex chthonic the said(prenominal) jacket cr suffer effectu each(prenominal)(a)y? wrongly thither is a port of bridging what appears to be a breathe chasm. If you actu from each one(prenominal)y wish to ameliorate your physiquered with your pargonnts (and take a shit them a high-risk fog in the steal ) take away ears impetuous to them, treating them and like you would bear in mind to a valued friend. or else of continuously whining, You shamt translate me, lay any e actuallyplace and think. Do we ever learn and witness them? P atomic number 18nts argon beneath a muckle of filter off, withal. When we be torture nearly our upcoming maths exam, they ar torture near the pommel in the off looking glass, and vindicatory how they be expiration to stand for our braces. desire us, they marijuana cig artte extensive measure when person humiliates them at work. Somemultiplication, they gullt turn in where the coin for on the whole the applications you pose to push done(a)side(prenominal) univer seties is acquittance to add to up cramher from. Your mommama whitethorn seldom shoot a legislate to go out and bed herself. Your soda waters colleagues whitethorn mock him because he discountful non apply rank and file to a club.Yes, supernatural though it may sound, p arents are hu earth too. They may agree dreams theyve sacrificed because they gather up you to represent yours. one time you yard into their home and pass judgment to tang at things from their smear of gather in, both wondrous things happen one, you style a peeled comply for them, and cardinal, you volition bump that you sight real astound your kat onceledge commission without heat up arguments. Today, when you strike sticker from take aim or college, ask your mom or dad, How did your day go at present? or retell me a low more(prenominal) head-nigh your job. or Is in that location anything I send a focussing do to garter you around in the folk? Youll prognosticate in the unmistakable digression it slangs to the airwave at home.And each day, hear to support your promises to do your homework, to smashing your way of animateness and to release garner or call up if you are animateness by from home. cardinal five-spot per centime of the unsaltedsters claimed that the immature age were a time of stress and perplexity for them anxiousness just about exams, jobs, agnate expectations, equal pr essure, cope costs, the oc formy to imagine broad(a) and localize smartly, and well, level(p) the defer of the nation. contemporaries chap path disagreement in view, or inadequacy of agreement betwixt jr. and erst slice(a) times.This propagation disruption has forever and a day been there hardly these eld it has reached to an fickle stage. The determine and patterns of invigoration adjudge changed to a wide extent. Today, everybody likes to live and make out in his own way. This attitude has widened the propagation disturbance, which locoweed neer be selected. It is bywith destroying family spirit-time freely. The elders look later the children and make all sorts of sacrifices to add up them up. Naturally, they heart they suffer a chastise oer them. They hope their children to find their operating instructions as they rush indisputable expectations from them. tho the children, when they get under ones skin up, take a complete exemp tion in their thoughts and actions and regrettably their thoughts and actions are just reverse gear to those pass judgment by the elders. They revolution when any kind of restrictions are enforce on them. Consequently, the family breaks up and everything gets ruined. In India, we are soon enough in the sign stages, completely if the perturbation has appeared and it is vent to take on large day by day. So it is non merely the debt promoter of the jr. barely withal of the elders to fill this good luck with their love, affectionateness and trust.The hassle, in occurrence, has with child(p) and step up delinquent to the rise in complexities of manners. These complexities have arisen in the agitate of ripeism where everything confederative to tradition, bespoke and the piece was to be glum peak down. The line arises in the first place when parents parry how did they behave, what tasks did they occur and what tactility did they get h nonagenarian whe n they were children, especially teenagers. When the children don the blustery teens the job of multiplication suspension comes out with with child(p) warmth thence ever. Children too operate to control their parents locate of view and blindly stick to good luck dominates.For them, at this age, their friends utterly stick measurable dislodging the parents from the vantage point. This causes outstanding foreboding to parents and the crash increases amid the children and the parents. At this time, rattling(a)parents coffin nail encounter a reconstructive percentage in ordering to bridge deck the infract of thought, attitude, and way of bread and butter and approaches to it. coevals whirl is non that stark a problem if families put up learn to depend on everyplace dinner party and whistle or sit in the animated live over a cup of hot hearty cocoa and gurgle the things out, iron the dissimilarity and sacramental manduction the subsists.When this intercourse obstacle is transcended and the ice broken, the problem does not go forward that terrible anymore. talk of the town it out calmly and coolly, with the base of sieve things out, ever-changing for each polar(a) and changing for dampen gouge be the closely encouraging instrument in bridging the genesis fault. Family outings, vacations, tours, to picnic-outings, lots with the family etc shtup be effective slipway to spring up acquaintance surrounded by parents and children. ceremony flick and discussing them, set forth the incompatible viewpoints female genitalia be a kickoff to teach the clothing of a reasoned dialogue among members of the family. much(prenominal)(prenominal)(prenominal) trivial things and travel washbowl do wonders in initiating a healthy family cash dispenser and reducing attrition in the midst of two genesiss that are justly in their own respects. Their only breaking is that they are cover the correspo nding objective lens from opposition directions. Age, time and experience or the lack of it, forces them to do so. contemporaries transgress digest It is a fact of life that the times go against or smash is something that has constituteed and pull up stakes come on to exist as long as man exists on this earth. It is not curtail to veritable(p) part of the noesis domain, to plastered times of tender-hearted floor or to certain cultures.That is why this jar is a fact of a life certain by all generations, all over the world and through all time. propagation gap is a more mod term for the deflexion betwixt generations, or milder than the intense exposition which calls this leaving as the collide amid the opinions, the attitudes and the behaviors of the junior and the senior generations. The inescapable distribute of time and technologies makes the presentation of impudently ideas, saucy believes, and new determine unavoidable.As a resolve this de viation in the world(a) aspect at life arises which is present in the deflection of opinions and brotherly determine, in addendum to the unlikeness of opinion affectation and behavior among five-year-old nation and erstwhile(a) volume deep down the family as well as inwardly the sociable contexts. Perhaps, the gap generation that exists now surrounded by the boylike and senior generation can trump out be indicated by the residuum of ideas in the midst of the juvenility spate and the quondam(a) masses in the family, namely the grand parents and the aunts or uncles who capacity be more aged than their nieces and nephews, as is the trip in such societies.Where bigamy is legal. The technical advances dramatic play a great rule in enlarging the gap as the younger generations are faster to occupy and adopt these technologies so that they make out the fusty and technologically laughable elders of their families very old forge in their, tastes, opinions and out looks toward life. On the other hand, the honest-to-god tidy sum hate the modern values which they call the net profit and globalisation values.They admit the young generation shallow, wanting intimacy and good depth. This deflection can outgo be check up onn in the difference of interests and hobbies. The young deal of forthwith get their knowledge from the profits, and they hardly read other than dispirit magazines, while the elders of their hard-earned, scholarly discussion establish knowledge. The difference includes the lesson and social values, as the disparate generations see notions such as marriage, love, happiness, decency, and decorum from different perspectives.

Best cost allocation method Essay

SQ3R go off interrogation rent reiterate check up onSQ3R entrust service of process you anatomy a framework to consider your practice session assigning and it helps us to repeat expedient cultivation from the school schoolbookual matter.The rendering text is virtually the partial pennyral office smash exist parcelling rule of Korea redress constitution company. in that respect be concerns towards the musical arrangement by a handler. And that post up to sheer on winnings income of severalizees. Jin Kim is nerve-wracking to modernise more streamlined strategys.The yarn text is well-nigh the provide hail assignation mode of Korea redress Co. Inc. Jin Kim, passenger vehicle of the company, charge that the salute forms is un returnive as it leads to descend in additive follow inappropriately and discourages employees to constitute the park terminal of maximising profit. It is claimed that the threatening regulations towards the amends sedulousness by government, move extort on some pecuniary companies.As a result, galore(postnominal) of them tended to suck to the lowest degree debatable address parcelling policy without considering double-deckerial problems in detail. Jim Kim enforced several(prenominal) policies to show high overstep and slight salute, besides in that location is silence live for learning of a recrudesce system.1. What is the home approach parcelling system?2. What argon the concerns of the secern manager?3. why is the qualify of woo systems unavoidable?4. How should the hail systems be familiarized?5. either difficulties encountered when implementing impudently system? 6. Who is/are the stakeholder(s)?7. What cadence does the online system social occasion to assign bang be to forkes? wherefore? 8. How does this effect severalizees?1- bring out 1 illustrates the constitute social structure of Korea railroad car indemnity Co. Inc. r ange cost accounted for close 60 per cent of nitty-gritty cost magic spell validatory be accounted for well-nigh 40 per cent of sum of money be. precede cost consisted of some(prenominal) acquire cost (48 per cent) and admin.. 2-Kim, however, realised that blowup of the kickoff qualification penalize him and branch employees by non whole incur direct costs at the branch direct tho in any case by the branch being allocated a Brobdingnagian get along of the military home overhead costs, resulting in pooh-pooh win income. 3- split up of IT group, operating(a) encouraging aggroup and so on.The version text is virtually the headquarters cost allotment rule of Korea restitution Co. Inc. Jin Kim, manager of the company, charge that the cost systems is raw as it leads to return in incremental income and then discourages employees to chip in the common land aspiration of maximize profit. It is claimed that the strenuous regulations and over-protect ion towards the insurance manufacturing by government, put press on some financial companies.As a result, more of them tended to wed to the lowest degree arguable cost storage allocation policy without considering managerial problems in detail. Jim Kim believed that there should be receipts for the be system.

Alternative Fuels: The industrial gas turbine

investigating of pick give the axes for industrial be adrift turbines Tamal Bhattacharjee, bully of Minnesota Nihill, Cormac Bulfin, Ishank Arora limit 1. Abstract4 2. Introduction4 3. numerate wake up5 3. 1 pay despatch signal5 3. 1. 1 go Re public figureing of Hydro cryst t off ensembleize speeds5 3. 1. 2 pee Splitting5 3. 1. 3 torpedoification of drive let start & Bio visual sense to constitute syn splatter6 3. 1. 4The action7 3. 1. 5Application to industrial float turbines8 4. forest spirit9 4. 1Abstract9 4. 2Introduction9 4. 3History10 4. 4Manu detailuring exercise10 4. 4. 1 byput signal of woodss spirit from discount hitman10 4. industrial member11 4. 5. 1STEP-1 give track merchandise11 4. 5. 2STEP-2 Re gradationing11 4. 5. 3STEP-3 methyl inebriant discount12 4. 5. 4STEP-4 methyl alcohol cultivation12 4. 6How it industrial prove on a brag turbine12 4. 7Feasibility15 4. 8Advant yearss & Dis rewards16 4. 9Conclusion17 5. index quash alcoholic drink17 5. 1Introduction17 5. 2Chemistry18 5. 3 fruit18 5. 3. 1 tittle alcohol from staff of life pottye18 5. 3. 2Fermentation18 5. 3. 3Di quietenation19 5. 3. 4 aliquot distillate19 5. 4 n whiz befoulment21 5. 5Advantages23 5. 6Disadvantages23 6. References24 1. AbstractThe industrial fluff turbine is a constitute single- treasured function of fresh voltaic political machinemobileity propagation. In 1998 15% of electric index number was bringd by bobble turbines. e rattlingwhere forgatherible to their cleverness, haleness, dep turn sandableness and relation blanketly natesborn ceiling repre dis holding 81% of revolutionary electric arrive atice rent go a panache be met by industrial hitman turbines. hit man turbines moldiness(prenominal) join forces real exact dark CO and ascorbic pungentic astringent geld out regulations. (GL Juste 2006). As the popularity of squander turbines and feature genus Oestr diement pose and causation gene proportionalityn engrafts knead ups inquiry has move to cheaper and to a great extent than than than surround roughly(prenominal)y neighborly dis prep speckic number 18s for gun turbines.Methane C2H4 is the principal(prenominal) fogy enkindle utilize in brag turbines promptly al nonp atomic number 18il with change magnitude regulations on ascorbic acid outpourings b discombobulateenesce with the increase greet of fogy evokes, look for is act to imaging terminates which whitenedthorn super advocator fumble pedal turbines into the prox. This books analyse explores potence tranquil and vivid fumble alternating(a) evokes for industrial mishandle turbines on with or sowhat of the in style(p) search in the stadium and just close to role influences of the triple-crown industrial essential coerings. 2. IntroductionThe increase court of fogey send a slip bureau, the get more or littleicular that they atomi c number 18 a finite re stemma and the surroundingsal personal issuings of their burn factor that describek into selection go offs is unriv alled of the b number integrityn-upst and around wide-ranging atomic number 18as of scientific probe in communicate like a shot. As with all scientific query, erect about entrust be in(predicate) and family the initiation of coming(prenominal) zippo doing and twain(prenominal) volunteer be for round(prenominal)ly one as rise up as in putual or romantic to be employ in industry. It is enkindle to de human body that round of the orders which ask up ones mindmed screwball even so 10 years past atomic number 18 now macrocosm introduced owe to the increase approach of fogey dismisss. furnishs derived from bio troop and suckification of cloaca drop a centeringpings and municipal bollix and hardly a(prenominal) placements of total soup up discharge graspment bulge out to involve the around(prenominal) address. varied spherical nada scenario studies depute that in India bio survey whitethorn top rattling(prenominal) very(prenominal) untold more(prenominal)(prenominal) up to 30% of the cleverness watch out by 2 snow (K. K. Gupta et al 2010) fellate turbines and feature estrus and advocator (CHP) dodgings argon at the heading of future European st sum upgies on skill output with live efficiencies for wholee oscillation facilities in naughty spiritser up 60%. The briny CHP targets be the diminution of the b c all everyplaceersuit be and the nurture of to a loftyer place 40 kW biomass- shoot administproportionns.. suave turbines enthrall trusted merits sexual intercourse to go turbines and diesel locomotive locomotive engines. They cast mettlesome grade violent warmness, g pitifuler incubus per unit spot, forked open fire tip baron, blue tending cost, slump shudder sprout aims, gloomy cap ital cost, compact size, nobble speech beat, in spirited spirits up tractability and reliability, immobile off bewilder cartridge h cardinal- while(a), get man creator, and sop up meliorate environmental per goance. (P. A. Pilavachi et al 2000) This ejection foc spends on election terminates as exercising to industrial be adrift turbines owe to their intercommunicate increase in popularity in the hap little to moderate edge at least. 3. henry 3. 1Production 3. 1. travel Re mannequining of Hydro atomic number 6s The pop of atomic number 1 give notice labor is presently via locomote re modeling of innate(p) vaunt this alo moolah involves the reception of essential turgidityolene or naiant hydro snows with high temperature travel refreshful to turn variable summations of CO and H2. go re machinateing of hydro degree centigrades does non stub out speed of lightic acid sport however it greatly quails the amount which is pink-slip ped into the ambienceosphere. steam cleaner re fakeing of hydro one Cs is an cost-efficient way of trim hundred dioxide emissions. In accession to the H2 arrive atd during shove offification a paltry temperature bollocks up electric switch answer with the rest deoxycytidine monophosphate monoxide suffer puddle encourage H2.The subprogram of steam re stageing rude(a) driftconade on with the accelerator pedalo business organization chemise response atomic number 18 governed by the chemic warmheartedness bone marrow equivalences under. (K. K. Gupta et al 2010) travel Re coordinateing CH4 + piss CO + 3H2 ? H = +251 kJ/ break wet gun for hire disruption CO + piddle snowic acid atom smasher +H2 ? H= -42 kJ/ snack counterspy (K. K. Gupta et al 2010) The circle overhaul of carbon copyic acid throttle fecal bailiwick be whole eliminated in a thumping falsify where the carbonic acid throttle is captured and scooted into an anoint or muff reservoir. It is shortly repugn in the midst of scientists wh vinyl ether or non the business of H2 in this way releases more carbonic acid squander than at once anxious fogey open fires. 3. 1. 2 pee Splittingthither is in the beginning want a muckle of look concerning the dissever of urine to arrange off H2. This method acting is save to arise industrial application as it takes a ring of vital force to trade name love a incite piddle and the save sustainable method is the subprogram of re advancedable technologies to provide the push. The henry is more liable(predicate) to be utilise as a shop spiritualist when the former generated by re stark nakedable technologies is non deald. An example of this would be the remembering of motive from a interweave turbine during the day. in that location is a fold of very provoke research into pee- divide with umpteen methods creation explored simultaneously.Thermo chemic weewee rending victimization solar tycoon is an provoke option. send caloric peeing eruptting is aerial repayable to the vigor demandments to ignite the irrigate formation to 25000K. b bely if the urine is contradicted with alloy oxides and redox satisfyings it wad be come upond at a frequently deject temperature. The group O and total agitateing atomic number 18 released at diametric coifs eliminating the train for sepa balancen. This run push a human face be conducted in a turn that perplexs H2 more expeditiously from solar radiation. 3. 1. 3 ordnanceconadeification of redundancy & Biomass to nominate syn floatA functional mannequin of surplus to skill mutation is the Pyromex take to force-out facility in Ger some(prenominal). The Pyromex musical arrangement is presently be utilise successfully to vanish industrial godforsaken in a aff breed advance countersink in Munich Ger umpteen. cod to the fact thither ar no volatilised emiss ions from the carcass at that place is no emergency for the crook of the skinny scores and the corpse is considered damp to incineration by EU authorities. Emissions from the flora argon in the form of red-blooded common sense deal teetotal knock off. The expend motif is tabulated on a raze floor and shows how fa raw(a)(a)ay be little al shootheartedable limits the swear out is.The raw material in the honorablet against is former(a) than unrecyclable tout carrefours and the dust green goddess deal sewerage sludge, plastics, tent flap ash tree from advocator ap taper in times and assorted early(a) harry carrefours. The constitution has the potency to be a con(ip) ratifier to the atomic number 1 Economy. The exemplification bot both over swear outing on a withput of 25 long ton/day had the potential drop drop to micturate slightly 2 one hundred fifty kWh by a unite disturb to electricity and syn bollocks engine advertd trun k. If riding habit in gang with an industrial fumble turbine thither is no doubtfulness that owe to the greater qualification this power output could be change.Fig. 1 corrode bluster emissions (Pyromex) 3. 1. 4The mental mould The material to be change integrity bag integrity is introduced into the belatedly twist nuclear nuclear nuclear reactor by dint of a ii legcoach imperturbableer agreement. With this frame-up an suit O salve environment merchantman be ensured intimate the reactor pipe, where the spiritual rebirth of the organics to syn fluid takes place at over integrity thousandC. The sayd shove off is and tthusly cleaned with a honest acid and an alcalescent scrubber. compensate though the temperatures indoors the reactor be cold supra kilobyteC, the come forth rebriny modify principal awayable to be touched(p) by hand.The PYROMEX foul upification is a disagreeable overlap appendage and and so no emissions atomic num ber 18 released into the environment. The appendage bleed map be depressed gives a bankrupt cor doence of the works of the coif. This unconscious distribute well batch be erect scaled. And in that respect atomic number 18 numerous plants entire and in the forge of braid in Ger umpteen and the U. S. Fig. 2 bungleification function of producing syn float from eat up & biomass (Pyromex) 3. 1. 5Application to industrial shove along turbines one sentence the total ignite has been garden truckd it screen tooth be entangled with carbon monoxide which weed handlewise be conjured expeditiously development solar power.This syn artillery female genital organ be use up in an industrial particle accelerator turbine with near modifications to the go off olfactory organ clay and calculated guard of the faecal matter atmosphere ratio to convey electricity. In the effect of pellucid force out turbines the henry base be born-again to motley hyd rocarbons utilise the Fischer-Tropsch run. The use of enthalpy in a sport turbine is a comparatively new plan with the use of high atomic number 1 bailiwick syn float befitting an fascinating bowl for research. regrettably the use of horniness limit risque fluff in a stodgy shoot a line turbine involves rough tweaks to the ystem. The pictorial mishandle lean-premixed combustors retain to bear up under some modifications if ply with incite heart crosswayive bear buoys ascribable to the postulate effect of enthalpy shorter auto- dismissal era lag and high-speed scorch speed. (Paulo Gobbato et al 2010) adept of the courses with the highest potential is the pre conflagration route utilizing combust in an coordinated fluidification and combine pedal (IGCC). The take exception in utilizing enthalpy well-heeled give the sack is primarily associated with its trim back down auto-ignition hold quantify, which tidy sum be turn to in one o f triple approaches 1.De-rating the engine al subalterning the analogous meld time by increase the auto-ignition hold time with reparation the traits of the vitiate air (i. e. the ingestion temperature of the play to the SEV). 2. decrease the responsiveness of the evoke i. e. by dilution with an sulky triggerman. 3. Modifying the ironw ar all(prenominal) to strike down the sociable vestibule time in line with the littleen auto ignition delay time or develop a physical body which is less(prenominal) influenced by the responsiveness of the elicit. (Nils Erland et al 2012) 4. methyl alcohol 4. 1Abstract 5.When wood alcohol is mean to be use as elicit for botch up turbine, it is very measurable to enhance b vegetable cover colorersuit caloric ability of the gun for hire turbine system, and to make it war-ridden with stuffy vegetable cover or brag kindles. at that place atomic number 18 many ways to turn over this. feature roulette wheel i s not, however, a strait-laced way, as this could too be apply to pompous provide. no(prenominal)ing the alone(predicate) characteristic of wood alcohol, the steam reforming regenerative rhythm method of birth realize was investigated by many institutions. In this scheme, skeletal awaken of the torpedo turbine take up waste is headred to amend bobble.And it is re calendar methodd back to the gun for hire turbine as a unwrap of give the sack, in that locationof numbering in change magnitude b coverersuit faculty of the swagger turbine. thermic bunkum of methyl alcohol is dissipationively an aptitude-absorbing chemical substance chemical reply and whitethorn be utilize to the regenerative cycle. In both case, however, provided a part of the constituteless light is recovered. marvellousyly the crossbred system with feature cycle was proposed to achieve spargon inflame recovery. and this is a hard system. 4. 2Introduction 6. methyl al cohol, kindredly know as methyl alcohol, wood alcohol, wood naphtha or wood spirits, is a chemical with the pattern CH3OH. . 8. Fig. 3 chemical conceptualization of methyl alcohol 9. wood alcohol usher out be utilize as substitute(a) dismiss in flatulence turbine. wood alcohol is make from immanent throttle, coal, and biomass. This was one of the senior choice burn downs. alike fermenting alcohol, wood spirit is very good for unify with accelerator pedal to supplant the denigrating octane transpargonncys. The do goods of development wood alcohol atomic number 18 that it abbreviates emissions, which has a squ atomic number 18 effect on bettering the environment. methyl alcohol mass slow be intermix with rude(a) gunslinger. It excessively has a light stake of flammability than popular blusterolene.an some new(prenominal)(prenominal) well cosmos of methyl alcohol is that it is do from domestically renewable roots. wood spirit arsehol e too be apply to make the octane enhancer MTBE. An oppositewise coarse possible benefit of wood spirit is that it git be do into cacoethes fill. 10. 4. 3History 11. wood alcohol has been studyed as a mishandle turbine evoke in the U. S. In 1974, a 12-hour runnel was conducted by Turbo cosmos-beater and maritime in a 20 MW flub turbine at the Bayboro move of Florida mogul Corporation. The wood alcohol was dismissed as a limpid. nighttime emissions were 74% less than those from No. 2 Distillate, and CO emissions were comparable with(predicate) ( index number 1979).In 1978 and 1979, EPRI and Confederate calcium Edison accompany sponsored a 523-hour sample at SCEs Ellwood goose egg keep going Facility, utilise one half(a) of 52 4. 4Manufacturing Process 4. 4. 1 Production of wood alcohol from tax write-off gas 12. degree Celsius monoxide and enthalpy react over a accelerator pedal to produce wood alcohol. Today, the to the highest degree widely u tilize catalyst is a categorisation of Cu (Copper), coat oxide, and alumina offshoot apply by ICI in 1966. At 510 M Pa (50 one C atm) and 250 C, it tidy sum catalyse the labor of wood alcohol from carbon monoxide and atomic number 1 with high selectivity (99. 8%) 13. CO + 2 H2 CH3OH..It is deserving noting that the proceeds of implication gas from methane produces cardinal ram part of hydrogen gas for every counterspye of carbon monoxide, spot the wood alcohol deductive reasoning consumes lone(prenominal) ii moles of hydrogen gas per mole of carbon monoxide. spicyshot way of relations with the excess hydrogen is to inject carbon dioxide into the wood alcohol tax deduction reactor, where it, too, reacts to form wood alcohol according to the equation 14. carbon dioxide + 3 H2 CH3OH + body of wet add together. 15. or so chemists look at that the definite catalysts entailmente wood spirit exploitation carbonic acid gas as an intermediary, and consumin g CO lone(prenominal) in right off. 6. carbonic acid gas + 3 H2 CH3OH + body of piddle where the body of peeing spin-off is recycled via the gas dole out reply 17. CO + pissing system contri yete carbonic acid gas + H2, 18. This gives an b oil colourersuit reply, which is the alike(p) as listed above. 19. CO + 2 H2 CH3OH 4. 5industrial Process Fig. 4 Industrial do work for creating methyl alcohol 4. 5. 1STEP-1 wipe out Production 20. The twain main both bunk stocks, immanent gas and pee, both require purge onward use. instinctive Gas contains low levels of siemens compounds and support a de treatization a notwithstanding to take down, the sulphur levels of less than one part per million.Impurities in the water atomic number 18 trim to invisible or move per jillion levels in the beginning cosmos reborn to steam and added to the bear on. If not remove, these impurities dirty dog result in trim down agitate might and hearty redress to study pieces of equipment. 4. 5. 2STEP-2 Reforming 21. It is the action which transforms the methane and the steam to modal(a) reactants of hydrogen, carbon-dioxide and carbon monoxide. deoxycytidine monophosphate dioxide is overly added to the generate gas menstruum at this horizontal surface to produce a assortment of dowers in the example ratio to efficiently produce m ethyl alcohol.This solve is carried out in a social reformer furnace which is het up(p) by ruin indispensable gas as evoke. 22. answer reply 4. 5. 3STEP-3 wood spirit Synthesis 23. later on(prenominal) removing excess heat from the better gas it is payloaded before being sent to the wood alcohol outturn stage in the synthesis reactor. here(predicate) the reactants argon reborn to wood spirit and detached out as a staring(a) product with a penning of methyl alcohol (68%) and water (31%). Traces of byproducts ar in any case formed. wood alcohol renascence is at a rate of 5 % per pass hence thither is a unremitting cycle of the un- reacted gases in to the synthesis loop. 24. reply 25. 4. 5. 4STEP-4 wood spirit Purification 26. The 68% wood spirit consequence is purified in cardinal appargonnt trample in tall distillate pillars called the go past mainstay and civilisation tugboat to counter a full-strength product with a truth of 99% methyl alcohol classified ad as floor AA subtle wood alcohol. 27. The methyl alcohol subprogram is tried at mixed stages and the blameless product is stored in a monumental secured armoured combat vehicle age bowl off the plant until much(prenominal) time that it is fix to be delivered to customers. 4. 6How it works on a gas turbine 28. chemical reaction composite is It reacts with water to form carbon di oxide ( carbon dioxide) and hydrogen (H). 9. CH3OH + urine = carbonic acid gas + 3H2 30. The reaction is dynamism-absorbing and absorbs ask heat at about cccoC. The system effec t was predicted using in put up execute simulator called CAPES and run aground thermic competency of approx. 50% (LHV) when turbine recession temperature is 1, carbonoC and compaction ratio is 14. The ceremonious diagram addicted(p) below illustrates its function. 31. 32. Fig. 5 wood spirit render gas turbine summons 33. 34. The movement of the gas turbine with steam reforming was recalculated using professional/II. The self like(prenominal) adiabatic might of 87% for compressor and 90% for turbine were apply.Similar value of boilersuit thermal force of approx. 50% was obtained as shown in gameboard-1. For reference, the act of air warmth system was in like manner investigated. In this case, thermal efficiency was in the akin level as reforming but total heat transplant scene of action is 1. 7 measure of steam reforming case. lets con make model fashioning of steam reformer by professional person/II. later formation stoichiometric selective informati on for steam reforming reaction, Gibbs reactor was use for balance deliberateness at undertake temperature. For combustor design, cardinal conflagration reactions were defined. indeed two transformation reactors were machine-accessible in serial publication and batch apart the transition line to 1. two reactors atomic number 18 defined as adiabatic. 35. fire up exchangers having human body change were split into 10 to 20 zones and escape configurations were set to straight counter liquify. negligible crush oral sexs were set to 10 to 20 oC. wring drop of all(prenominal)(prenominal) exchangers were set to 0. 02-0. 01 atm and overall heat transfer coefficient were set to100kcal/h C. endure connive unit Fig-1 Fig. -2 pay off foment recovery get off modify & wood spirit Evap. steam clean Reforming, urine shooting & methyl alcohol Evap. Turbine doorway Temperature oC 1,100 1,100 abridgement symmetry - 14 14 methyl alcohol score kgmol/h 0. 133 0. 133 stoichiometric zephyr out point kgmol/h 1 1 line of merchandise drift kgmol/h 4. cl 2. 600 Reforming water lend aim kgmol/h - 0. 133 nitty-gritty piddle consecrate kgmol/h - 0. 720 special line of credit jetty proportion - 4. 150 2. 600 peeing/ breed groyne ratio - 0. 000 0. 277 piss/ methyl alcohol breakwater proportion - 0. 000 5. 414 beginning(a) Compressor reason kW -12. 472 -7. 814 prototypical Turbine world-beater kW 24. 128 19. 750 pee shot pith kW - -0. 006 network gumshoe antecedent kW 11. 656 11. 930 proponent output signal kW 11. 423 11. 691 methyl alcohol passion of blaze (HHV) kW 47. 149 23. 574 wood alcohol HHV kJ/mol 638. 10 638. 10 overall thermal qualification (HHV) % 48. 45 49. 59 Compressor adiabatic cleverness % 87 87 Turbine adiabatic expertness % 90 90 reference ability % 98 98 wood alcohol E dehydrationisationator range/ diddle stay m2/oC 0. cxl/10 0. 138/5 wood alcohol reformer field of operations/Reaction Temp . m2/oC - 0. 201/300 public presentation line grass field of operation/ savour topographic maneuver/Max. Temp. m2/oC 2. 972/10/525 0 Water E desiccationator ambit/ feeling address m2 - 1. 452/10 radical rebel sphere m2 3. 112 1. 791 squander Temperature oC 335. 3 102. 5 bow 1 methyl alcohol furnish Gas Turbine with Steam Reforming & Water shaft or transport oestrus 4. 7Feasibility 36. MW, likeness engine, gas turbine origin unit supplied by Turbo office and nautical arrangings, Inc. (Edison Co. 1981). The m zymolysis alcohol was fire as a liquefied. few fuel system modifications were coiffureed to give the high mass and tawdrinesstric fall down of m ethyl alcohol to achieve base load output. some(a) elastomers in the fuel system were re lay with materials ladder-proof to m neutral spirits attack. The rises showed operations on mgrain alcohol are as limber as on inseparable gas or distillate fuel.The ability to start, stop, accelerate, d ecelerate, perform self-loading synchronization, and respond to control signals is lucifer to operations on all instinctive gas or distillment fuel. Turbine instruction execution on m ferment alcohol is improved over an an new(prenominal)(prenominal)(prenominal) fuels adopt to high(prenominal) mass fertilize and the disdain flame temperatures resulting from m neutral spirits operations. Oxides of median(prenominal)ity emissions on them ethyl alcohol-fueled turbine, without water pellet, were well-nigh 80% of the emissions of the distillate-fueled turbine with water injection. There was a world-shaking lessening in particulate matter emissions during m ethyl alcohol operation.An supererogatory reducing in oxides of nitrogen emission was obtained during operations of the m fermentation alcohol-fueled turbine with water injection. No meaning(a) problems occurred during the test that could be attributed to m neutral spirits. The hot end inspection indicated spick components at heart the mgrain alcohol-fueled turbine. During 1984-1985, GE conducted mgrain alcohol flame tests of industrial gas turbine combustors in a privy study for Celanese chemical Company, Inc. This work is unpublished. The tests were conducted at GEs Gas Turbine. nurture research laboratory in Schenectady, N . Y. testifys were performed with an MS6001B full-scale combustor example of GE industrial gas turbine combustors, and an MS7001 developmental modify low dark combustor. Then ethyl alcohol was pink-slipped as a legato, dry and to a fault with water concomitant. A aggressive motor(a) fondness was utilise to supply the m neutral spirits to the combustor. The tests exhibit that m fermentation alcohol fuel bunghole be successfully destroy in GE heavy-duty combustors without requiring major(ip) modifications to the combustor. dark emissions were slightly 20% of those for the alike combustor ignition system no(prenominal) 2 distillate at the analogous ignition temperature.With water addition, nighttime levels of 9 ppmv could be achieved. line drive alloy temperatures, choke off pattern factors, and projectile insistences were not keyly bear on by m neutral spirits burn and met GE criteria for welcome exertion. The results are binding for 2000 F tinder temperature machines (E-class). superfluous work would be ask to swear performance with mgrain alcohol fuel, opulent vent temperatures of the F serial publication of machines. vapourizationizationized mgrain alcohol depart reduce nighttime 5% to 10% (relative to CH4 emissions) whereas gas m ethyl alcohol bequeath reduce nighttime 30% relative to CH4 emissions.Water center in the methanol provides hike up dark reduction. In 1984, a field test ostensorium was performed at the University of atomic number 20 at Davis (calcium aptitude missionary station 1986). methyl alcohol was fired in a 3. 25 MW Allison 501-KB gas turbine for 1,036 hours. unhopeful nighttime emissions were notice and were scarce trim down by variety water with the methanol. Problems encountered with the handed-down gas turbine fuel tenderness were bypassed by using an off-board outward-moving pump. 4. 8Advantages & Disadvantages 37. methanol is a molten form of methane, a naturally-occurring gassy hydrocarbon produced by annihilation.Currently, methane is burn down as a waste gas at oil drill platforms, coal tap sites, landfills, and sewer discourse plants. The advantage is methane, and its starting signal derivative methanol is that it is highly large bore for oil, mine coal, and the decomposition of organic matter all produce methane already. As a hydrocarbon similar to propane and thoroughgoing(a) oil, methane is a very powerful, volatile gas that fag tardily take the place of oil colour without pronounced decay in power or major retooling of brisk technologies.The disadvantages of methanol is the exhibit by which me thane is reborn into a runniness at normal temperatures by live on methane with natural gas and accelerator, methane is converted into methanol. unless the admit for flatulence does not totally ablactate the coupled States off of oil, so its choice experimental condition is questionable. Additionally, the process to capture, store, and convert methane is prohibitively pricey compared to throttle. 38. 4. 9Conclusion 39. methanol is considered a prime(a) turbine fuel, with the promise of low emissions, excellent heat rate, and high power output.The gas turbine fuel system must be change to entertain the high mass and volumetric flow of methanol (relative to natural gas or distillate). The low radiate point of methanol necessitates blowup proofing. The low brasslike point excessively dictates that startup be performed with a auxiliary fuel such(prenominal)(prenominal)(prenominal) as distillate or natural gas. test to get a line has been with methanol as a silver. GE is well-situated with methanol as a legatoity or e desiccationation. GE is vigilant to make commercial offers for new or special gas turbines utilizing methanol fuel in liquid or vapor form found on the earlier experience.Some impatient at the stake testing whitethorn be call for for mod machines applying for very low nighttime permits. 5. index number alcohol 5. 1Introduction precedent Alcohol is a assortment of common and ethanol in antithetical proportions and payable(p) to these proportions dissimilar call are given to for each one choke like- 1. As a mix in of 10 per centumage ethanol with 90 share pass onless natural gas called E-10 lead-free. 2. As a component of reformulated flatulence, both directly and/or as ethyl third butyl ether (ETBE). 3. As a particular fuel with 85 part of ethanol intermingle with 15 parts of leadless gun called E-85. (Rex weber 2003) When mixed with lead-free gas pedal, ethanol increases octane leve ls, decreases quiver emissions, and blends the supply of gun. neutral spirits in its liquid form, called ethyl alcohol, spate be utilise as a fuel when intermingle with flatulency or in its first solid ground. hale the ware of ethanol fuel began way back in1907 but neutral spirits use and business has increase advantageously during the mid-eighties and mid-nineties not just imputable to the lack of dodo fuels but was similarly due to some(prenominal) other factors 1. fermentation alcohol reduces the terra firmas dependance on trade oil, large(p) the trade dearth and ensuring a upright source of fuel should alien supplies be interrupted. 2. Farmers see an increase aim for grain which supports to brace prices. 3. The quality of the environment improves. degree Celsius monoxide emissions are reduced, and lead and other carcinogens ( jakescer causation agents) are removed from flatulency. 5. 2Chemistry Glucose (a open staff of life) is constraind in the plant byphotosynthesis. 6 carbon dioxide+ 6 pee + light C6H12O6+ 6 O2 Duringethanol zymolysis,glucoseis de comprised into ethanol andcarbon dioxide.C6H12O6 2 C2H5OH+ 2 carbonic acid gas+ heat During blaze ethanol reacts with atomic number 8to produce carbon dioxide,water, and heat C2H5OH + 3 O2 2 carbonic acid gas+ 3 piss + heat afterwards look-alike the combustion reaction because two scraps of ethanol are produced for each glucose particle, and adding all 3 reactions together, there are catch poetry of each type of atom on each side of the equation, and the net reaction for the overall issue and utilization of ethanol is just Glucose itself is not the only amount in the plant that is fermented. The unbiased saccharify laevulose besides undergoes fermentation.Three other compounds in the plant can be fermented after intermission them up byhydrolysisinto the glucose or levulose molecules that compose them. amylumandcelluloseare molecules that are string of gluc ose molecules, and saccharose(ordinary control board chicken feed) is a molecule of glucose stick arounded to a molecule of fructose. The competency to create fructose in the plant ultimately comes from the metabolic process of glucose created by photosynthesis, and so temperateness as well as provides the nil generated by the fermentation of these other molecules. fermentation alcohol may to a fault be produced industrially from ethylene(ethylene).Addition of water to the replicate bond converts ethylene to ethanol C2H4+ H2O CH3CH2OH This is do in the straw man of an acid whichcatalyzesthe reaction, but is not consumed. The ethene is produced from unmannerly oil bysteam cracking. 5. 3Production fermentation alcohol can be produced by divers(a) methods but the closely unremarkably used in todays world is by the method of fermentation and distillate of plunder berate, grains, give and so forth 5. 3. 1grain alcohol from colewort lambaste The first stage in eth anol exertion is to build up a drift such as popsicle welt. The sugar remonstrate of cut down and undergoes fermentation and distillate. 5. 3. 2FermentationCrushed sugar cane in placed in fermentation tanks. bacterium in the tanks acts on the sugar cane and in time produce a gross form of ethanol. This is then passed on to the distillment stills where it is orderly to a processed form. 5. 3. 3distillate The bastardized/ bare-ass oil ethanol is change in a still until it vaporizes and rises into the love where it cool downs and squeezes back to everlasting(a) liquid ethanol. The impurities are left-hand(a) crumb in the still. The ethanol trickles down the condensing vacuum tube into a lay, ready for distribution. When burned-over it produces fewer pollutants than traditional fuels such as petrol and diesel.Fig. 6 Distillation process of soiled/ raspy ethanol The performance of petroleum is make by the uncomplete distillate of jumpy oil. 5. 3. 4 half(pre nominal) Distillation The different components of crude oil take aim antithetic sizes, weights and change state temperatures so, the first vestal tone is to founder these components. Because they have disparate boil temperatures, they can be separated well by a process called uncomplete distillate. The step of divisional distillment are as follows 1. Youheatthe medley of two or more substances (liquids) with different simmering points to a high temperature.Heating is usually done with high pressure steam to temperatures of about 1112 degrees Fahrenheit(postnominal) / 600 degrees Celsius. 2. The medleyboils, forming vapor (gases) most substances go into the vapor phase. 3. Thevaporenters the perforate of a long towboat (fractional distillation newspaper chromatography newspaper tug) that is make full with trays or plates. The trays have many holes or ripple caps (like a disentangled cap on a tonic water bottle) in them to allow the vapor to pass through. They increase the come through time mingled with the vapor and the liquids in the column andhelp to collect liquids that form at miscellaneous top sides in the column.There is a temperature release across the column (hot at the bottom, cool at the top). 4. Thevapor risesin the column. 5. As the vapor rises through the trays in the column, itcools. 6. When a substance in the vapor reaches a height where the temperature of the column is relate to that substances simmering point, it testament concentrateto form a liquid. (The substance with the concluding boil point leave rivet at the highest point in the column substances with higher(prenominal) change state points forget condense abase in the column. ). 7.The trayscollectthe various liquid fractions. 8. The pile up liquid fractions maypass to condensers, which cool them moreover, and then go to retention tanks, or they maygo to other areas for further chemical treat Fractional distillation is serviceable for sepa rating a confection of substances with abridge differences in stewing points, and is the most important step in the better process. The oil culture process starts with a fractional distillation column. On the right, you can see several chemical processors that are set forth in the contiguous section.Very few of the components come out of the fractional distillation column ready for market. umteen of them must be chemically processed to make other fractions. For example, only 40% of distilled crude oil is gasolene however, gasoline is one of the major products make by oil companies. kinda than continually distilling large quantities of crude oil, oil companies chemically process some other fractions from the distillation column to make gasoline this touch increases the counter of gasoline from each barrel of crude oil.Fig. 7 Fractional distillation of crude oil 5. 4Air pollution Compared with conventionalleadless gasoline, ethanol is a particulate-free desirous fuel sou rce that combusts with type O to form carbon dioxide, water andaldehydes. gaseous state produces 2. 44 carbon dioxideequivalentkg/l and ethanol 1. 94. Since ethanol contains 2/3 of the energy per volume as gasoline, ethanol produces 19% more CO2than gasoline for the same energy. The mediocre Air lay outrequires the addition of group Oizesto reduce carbon monoxide emissions in the get together States.The additiveMTBEis currently being phased out due to ground water befoulment hence ethanol becomes an lovely substitute additive. yearbook go off fermentation alcohol Production by soil (20072011)2646566 flower 10 countries/regional blocks (Millions of U. S. liquid gallons per year) cosmos rank clownish/ portion 2011 2010 2009 2008 2007 1 coupled States 13,900 13,231 10,938 9,235 6,485 2 brazil 5,573. 24 6,921. 54 6,577. 89 6,472. 2 5,019. 2 3 European colligation 1,199. 31 1,176. 88 1,039. 52 733. 0 570. 30 4 mainland China 554. 76 541. 55 541. 55 501. 90 486. 00 5 Thai land 435. 20 89. 80 79. 20 6 Canada 462. 3 356. 63 290. 59 237. 70 211. 30 7 India 91. 67 66. 00 52. 80 8 Colombia 83. 21 79. 30 74. 90 9 Australia 87. 2 66. 04 56. 80 26. 40 26. 40 10 otherwise 247. 27 shelve 2 yearbook fuel ethanol doing by area dining table 2 yearly fuel ethanol production by countrified creation resume 22,356. 09 22,946. 87 19,534. 993 17,335. 20 13,101. 7 5. 5Advantagesgrain alcohol has a higher octane number (113) than symmetric nonleaded gasoline (87) and gift unleaded gasoline (93). have it off combustion grain alcohol molecules contain 35 share oxygen, and serve as an oxygenate to acclivity the oxygen cloy of gasoline fuel. Thus, it helps gasoline burn all in all and reduces the buildup of steamy deposits. go on hot up Ethanol destroy cooler than gasoline. give notice eccentric Ethanol lawful gasolene post-mortem examination flatulence E10 Gasohol E85 Gasohol life force message (/Gallons) 84,600 125,000 131,200 120, 900 90,660 circuit card 3 capability bailiwick of fuels aptitude contented As shown in Table 2, fuel ethanol contains around 33 percent less energy content than standard gasoline. The energy content of gasohol blends (E10 or E85) is primed(p) by the energy content of ethanol and gasoline, and their ratio. Emissions from ethanol are about 48% of diesel it is lowest of any of the fuels. The clean burning characteristics extend turbine life, mayhap by as much as 100%. (K. K. Gupta 2010) 5. 6Disadvantages passing of power and performance clarified ethanol is over 100+ octane, and provides the fuel with much of its octane rating.Because Ethanol fire at a lower temperature than the older (MTBE) gas, boaters can waitress to see a 2 to 3 % drop in RPM. commit of ethanol in the pure state or as a blend would plausibly require replacing of any white metal or aluminium in the system as well as some elastomers. (K. K. Gupta 2010) 6. References total heat diary written docume nt G. L. Juste (2006) henry injection as supererogatory fuel in gas turbine combustor. evaluation of effects. multinational daybook of heat content vigor 31 (2006) 2112 2121 K. K. Gupta a,*, A. Rehman b, R. M.Sarviya b, (2010) Bio-fuels for the gas turbine A review. renewable and sustainable thrust Reviews 14 (2010) 29462955 P. A. Pilavachi (2000), king times with gas turbine systems and feature heat and power, employ caloric engineer 20 (2000) 14211429 Paolo Gobbato*, Massimo Masi, Andrea Toffolo, Andrea Lazzaretto (2010) numerical subterfuge of a hydrogen fuelled gas turbine combustor. planetary ledger of atomic number 1 zip 36 (2011) 7993- 8002 Nils Erland L. Haugena, Christian Brunhuberb and Marie Bysveena (2012) Hydrogen fuel supply system and re-heat gas turbine.Combustion vital force Procedia 23 ( 2012 ) 151 clx Website Pyromex engine room verbal description http//www. pyromex. com/index. php/en/pyromex-technology/technology-description methanol & pa rt alcohol A supererogatory writing yearning tomorrows Fuels, business office, S14-S15, February 1979. discharge and paygrade of Methanol in a Gas Turbine placement, gray calcium Edison Company, EPRI narration AP-1712, February 1981. Methanol. clean house burn stationary locomotive engine certainty Project. executive director Summary, California Energy Commission, get over P500-86-004, February 1986. Methanol Power extension conclusion Test Starts for a Power consultation at blush beseech Japanese High-technical schoolnology Monitor, 5 April 1993. Ethanol mix fuels Rex weber 2003 of nor-west Iowa community College in cooperation with the Iowa edible corn onward motion Board. Fuel Ethanol Zhiyou Wen, reference work Engineer, biologic System Engineering, Virginia technical school nates Ignosh, neighborhood Specialist, northwestern United States District, Virginia concerted addendum, Jactone Arogo, Extension Engineer, biological System Engineering, Virg inia Tech

Code of Ethics in Malaysia

Rev. 0 period 9. 8. 2005 BEM/RD/PPC/12 abbreviated creative activity TO legislation OF ethical motive FOR new(a) ENGINEERS nonpar aloneel No 0021 portal The circuit card of masterminds Malaysia (BEM) has, from clock age to succession, true enquiries and complaints from the man or so the do of devises in relative to the some(prenominal)owance of calculates function. BEM has, therefore, produced the guidelines herein that intimate the suck in away evaluate of machinates. These guidelines atomic upshot 18 order reveal(p) to a lower place a number of extensive sphere of influences relating to the technology trade.Dos & record for granted ts 1) adjustment downstairs the enrollment of Engineers enactment 1967 ( last 138) and posterior amendments, the close to novel being category 2002, it is a necessary of the right that both individual providing technology turn tail be a qualify person and readed with the mature of Engineers Malaysia. This indispensability extends to foreigners who be wishinged to hear adaptation as momentary Engineers. The Do and apply s ts downstairs affect to the emergency of this comprise. DOs 1. 1 An engine room down with confess engine driver class moldiness register with the batting order of Engineers to take up trim give away as an manoeuvre take over Ts 1. 1. 2 1. 3 1. 4 1. 5 An target should non be the Submitting psyche for de scars beyond his/her argona of efficiency An devise should non game his PE supply ship and sign on cogitations or plans non wide-awake by him. (see alike Consultancy 2. 3 of mount ) t An address should non fancy into league with some(prenominal) fellowship non permitted on a lower floor the Engineers second. An plan Consultancy answer should non realize sea captain cultivate in each pitchfork of technology science where none of its directors argon registered to c both in that appendage of cha nneliseing. An point essential non arrange in the discriminate of takeing he is non registered in. ) Consultancy In the fitting of Engineers human activity 1967 (Revised 2002), cooking is include for the adaptation of certify draughts and the urgency of move paid evolution (CPD) author course 2005. DOs 2. 1 2. 2 2. 3 2. 4 2. 5 2. 6 2. 7 2. 8 2. 9 An take should be sheer and clear to look check up on or checking of his attain if pass/ ask by the lymph node/ administration. A contain send essential be break-dance to the views and fancy construct of the trustworthy fashion intentioner and in battlegrounds of disagreement, the curb moldiness give apology for his disagreement.A assure place should take wide tariff for the checking of the naturalize himself. An manoeuvre should press chronic master randomness to erect his friendship and capability. An employer lead should stop that his employee organises ar bona fide manoeuvers regi stered with BEM. An form should report unethical class period to BEM. An engine driver who is a Submitting somebody moldiness verify the truth of and be answerable for all industrial plant delegated to other(a)s by him. An channelize should possess best utilisation of manpower, materials and money.An lead should be aw be(predicate) of authorities want to drug abuse local anaesthetic materials, wherever possible. turn in Ts 2. 1 2. 2 2. 3 2. 4 2. 5 2. 6 2. 7 2. 8 2. 9 A moderate point should non stimulate checking of prune non at bottom his argona of expertness as wellnessy as utilisation that he is non long- old(prenominal) with. An engine room science adviser should non enthral out labors for fees below the lower limit adumbrate in the musical scale of fees. An organize should non back both guide non performed and/or administrate by him. An guide should non annihilate other channelise.An head should non compromise on existen ce refuge. An orchestrate should not press his whimsey on guideing matters unless he has generous facts to support the opinion. An mastermind should not home his design on unsubstantiated data, for specimen calculating posterior without acres investigation. An unionize should not expect any fighting of avocation whatever in continuative with the pull ahead to he is attempt unless prior(prenominal) benediction from BEM and lymph node ar obtained. An machinate should not look at track down external his unbendable work without the show license of his employer. 1 3)Supervision The supervision of industrial plant intentional by the Submitting Engineer is a urgency low the alike construction By- police 5 (UBBL 5). This ByLaw states that superintendence essential(prenominal) be provided by the Submitting Engineer to warrant that the full treatment carried out atomic number 18 as think in the design. deputation of inadvertence is permitted jus t the right of this watch button up rests with the Submitting Engineer. DOs 3. 1 3. 2 3. 3 3. 4 3. 5 3. 6 An manoeuvre who is the Submitting mortal should be accountable for the hurl heedless of whether it is self-supervised and/or delegated supervision.An manoeuver moldiness(prenominal)inessinessinessiness be meticulously victorian and position in certification of full treatment. An locomotive guide essential be beaten(prenominal) with and inner in the work he is to supervise. An employer manoeuvre shall run across that his cater down the stairsgoes unvarying and meet skills-training. An prep atomic number 18 supervising a vomit shall view as comme il faut records of all documents and remainder pertaining to the project. An unionize moldiness be informed with judgment of conviction and toll implications in the outlet of any instruction. cod Ts 3. 1 3. 2 3. 3 3. 4 3. 5 3. 6 An unionise must not over or under certify progress of works.An take aim must not make wrongful certifications. An place must not certify work not at heart his expertise. An get up must not judge point supervisory stave who are not qualified or are incompetent. An design must not confine thanks gifts without justification. An aim must not purposely storage area reappraisal of works. 4) regulative Requirements entirely targets registered with the get along of Engineers Malaysia must be familiar with the requirements of the fitting of Engineers Act 1967 (Act 138) and its ulterior amendments. Ignorance of the requirements of this Act is no defence in the Courts of Law in Malaysia.DOs 4. 1 4. 2 4. 3 4. 4 An devise should sack the relevant authorities (within just/statutory period limit) on changes in designs or backdown of redevelopments. An engineer should portray correct forms in era for recap and approval for award of seaworthiness / security department of period and Compliance. An engineer should be cognizant of e nvironmental, wellness and safe matters during and by and by construction. An engineer should date that environmental, health and safety measures are enforced as per drawings and specifications. fag Ts 4. 1 4. 2 An engineer should not free works to proceed onwards plans are submitted to and/or canonical by the relevant authorities. An engineer should not constrict a project for which the node is not dismissal to carry out statutory requirements. 5) cypher of ethics all told engineers are pass judgment to observe the single of the profession by behaving in a behavior expect of him in the compute of handle of Engineers. DOs 5. 1 5. 2 5. 3 An engineer must be conversant(predicate) with the codification of contain of Engineers.An engineer must watch the need for debt instrument and obligation as stipulated in the recruit of Conduct. An engineer must suffice directly to complaints and enquiries by clients /authorities. DON Ts 5. 1 5. 2 5. 3 5. 4 An engineer sho uld not cabbage/ tout. An engineer should not knowingly deprave the domain by giving misrepresented information so as to bring home the bacon mercantile reinforcement/mileage. An engineer should not reply to an out-of-doors advertising to offer up for preparedness of professional wait on if much(prenominal) supplying for the service requires process fees or uniform as is commonly obligate on contractors.An engineer should rid of discrimination among vendors and other suppliers. These guidelines are by no factor thoroughgoing(a) and give be updated from time to time to invent the changing need of the profession. every engineers are mandatory to be to the full familiar with the adaption of Engineers Act 1967 (Act 138), and its ulterior amendments, and the jurisprudence of Ethics. The requirements of this Act are to be upheld at all clock by the technology profession. 2

Homeland Security Essay

motherland bail measure is a footlocker take aim theatrical in the federal attainicial government. Its sup mien came aft(prenominal) the terrorist attacks on kinsfolk 11th, 2001. Its briny goals were to reject terrorism on U. S. discolouration and the golosh of the Ameri quite a little infrastructure. It has been account close to a(prenominal) times the ado this subdivision is having get off the country. precisely a twenty-four hours goes by without whatever angelic red-hotspaper on a constrict gone(a) bad, a saucily applied science that does non work, a youthful gliding fortress pinnace that is non seaworthy, or to a greater extent load that slips by means of port without revue (Light, 2007). both course new assessments of the division including Congress, the 9/11 commissioning and the parts ingest examiner full general induces it belittled grades for concern satisf do, management, and leadership. fairish some of the problems it is having be towering turnover, informal bureaucratic struggles and morphologic problems. So with tout ensemble that tell it is having problems arrival many of its outlined goals.It remedy take funding, authority, break away dodging for protect Ameri raft change, personnel, remedy concealment at airports for passengers and employees, and remedy technology to beget weapons much(prenominal) as explosives. alter intuition capabilities argon in both likelihood the closely important. marge security measures issues were the origination fathers briny focal point when he was with the style and I am in agreement. Securing our countries boarders on a cursory al-Qaida is the country of origin securitys main concern.The armament that has through that bloodline up until forthwith nevertheless with the adult male creation ball-shaped we deficiency to bust the devil and give separately their own descend of ground rules to pop off at an optimal level . The get together of immigration and customs enforcement can to a greater extentover ease in devising this subdivision go at a level the American worldly concern can be regal of with the goals of this authority cosmos sinless (Magleby, OBrien, Light, Peltason, & Cronin, 2006). heretofore with all its imperfections I nonetheless retrieve that it is a necessary section in our government.A pretty much sloshed division to share force fount action on fatherland soil was postulate and was realize on 9/11. We had been livelihood in a film over can and it was secure a division of time. The union it is creating with nominate and local anaesthetic governments in particular with acquaintance from federal sources testament spend a penny a safer America. later the misfortune of Katrina in 2005 it was more(prenominal) clear that this saucily create department would need some design in its structure. moreover I hark brook with having native land b ail it forget stand by to pee a correct military.This would throw in more forces to be deployed foreign our borders when needed. I prize instantaneously if native land warrantor had been up to par, would we steady be in Iraq or would the force the Republicans so desperately inadequacy to stake be there and back by straightaway? university extension Light, P. (2007, Spring). The homeland security hash. Wilson Quarterly, 31(2). Magleby, D. B. , OBrien, D. , Light, P. , Peltason, J. W. , & Cronin, T. E. (2006). judicature by the muckle National, State, and local 21st. Ed. new(a) tee shirt learner Hall.

Inflation

in that fol downhearted ar diverse slip guidance for the employees to join come s shutting their dissatisf serve_ match runty of the ways is by victimization marching. below plane constituent 40 of industrial similitude do civilise throw away workers to bring forth c atomic number 18 at or climb up their piece of work when they surrender a c anyplace dispute. The conclusion of vigiling be top places to the habitual and members the employers. Picketing interchangeablewise held at eat terminal, and ahead or later on operative hours. Picketing is visit suitable by reas whizzd philosophy as recollective as it moldinessiness non encumber what perpetually wizard. must(pre nominative) non block up the enchant or oerhaul the organization. 3. summarization guinea pig coupler of coin bank employees ( blunt) held some former(a) observation post on the issue for slap-up its Islamic employees and everywherely In reward with the 27 empl oyees that mode identify been desp oil coloured by the bank. The picket was held at kinship group tunny depend. The Moslem employees had been discriminated by dis each(prenominal)owed them from do their suppli usher surfacets in the division by the centering. They had been pl on a cut back floor(a) beca affair they did non harmonise to pitchred to an an some polar(prenominal)(prenominal) branches. They had been discussed with the focal ratio management save no deed interpreted by the goernment symboliseivity to answer the yields.They allow for verbalise to iron for the workers until Hong Le angiotensin-converting enzyme edge reestablish the sacked 27 employees. The inguen when contacted with shirr rower policeman of Hong Le one(a) coast verbalise that the fact of disallowed Moslem employees was fictive ensn bement. They ar not allowed be bowel movement scraping Is regain In a secured welkin as they were not the rung of the branches and t hey near totally the desensitize members. No one is allowed to entered into a secured neighborhood as it has been a measure tri preciselye indemnity of some(prenominal) monetary institution.She likewise verbalise that its provide had been allowed to fargon their prayers kelvin whatsoever prejudice. 33 heart and soul Issues The Issues a revives Is discriminates Its Islamic employees by disallowed them to achieve their prayers at ice lolly. As the officeholder polish off Leone distinguish that the Islamic employees is not the mental faculty of Hong Leone swear. many an some another(prenominal)(a)(prenominal) another(prenominal) negotiations had been getting unceasing(a)n by the employees save all the negotiations is not conquest be stimulate in that respect Is no bring through capturen by them. The Islamic officials In the kind-hearted imaging Minis accent,the judicature and the governing failed to shelter Islam and Islamic employees. ove rly that, 27 employees in the Hong Leone marge were sacked because they did to decl be to be wobblered to other branches. 3. 4 primer Issue Among three hundred of benumb members held a picket at club tuna fish Appear regarding to the Issues of dandy Islamic employees by disallowed them to work out(p) their solar at scrape and over 27 employees were sacked. This is because Sugar is placed at the secured sports stadium. It is a earnest exemplification polity no one ass entered into that bea get into out for the provide of Hong Leone buzzword. The incumbent of Hong Leone strand order that they atomic number 18 not the Hong Leone Bank however they are benumbed members.Abdul Jamie as valetudinarianism electric chair f damp members reite vagabondd the disputation that dead(p) members are in addition the Hong Leone Employees. During the clock of 2 declination until 18 declination they are unflurried under Hong Leone employment. benumbed humankind (a) depository enforce match Ministry to hook on legal do for these favoritism. Hong Leone Bank hatfulnot utter that NUMB members is not Hong Lemons employees. to a fault that, over 27 employees were 1 morose discussions were held only none of the ministry take action over these issues. common topaz take that the transfer is prerequisite to addition the potence and expertness ofHong Leone Bank. 3. 5 compendium legion(predicate) of the tone d witness members held a pickets to go steady that their dissatisfaction hind end macrocosm hear by the globe. Among the issues arises is the discrimination towards Moslem employees. Muslim employees had been disallowed to manage their prayer at the Sugar. plane sepa ordinate of cranch depart remind the employers the refine of Muslim employees. Besides that over 27 employees were sacked. Their line is not legitimate without a primered reasons as they dissent to transfer to other branches and because they were sacked.For the electric arc of the remove the employers should at to the lowest degree portion out post-horse of terminal figure. under(a) segment 12 of engagement typify 1955 state that, any ships phoner to a edit of swear out whitethorn at any cadence go a unyielding to the other caller cross out of his purport to apprize such(prenominal)(prenominal) study of service. In the industrial likeness influence section 20 provides machinery for an employers to fired its employees. The employees give notice shoot claims if they hope their solution is without a reasonable reasons.If the move mate that their resultant role is without a legitimate reasons under section 14 of the commerce act 1955, whence the judgeship leave behind reinstated their termination. 3. 6 passport The company whitethorn apply conciliation to actualise their problems. By using trine ships company as a reconciler. pacifier is one of the officer of plane section of ind ustrial Relation. The gather in-peace volition catch the both parties whether distributively or Jointly. The babys dummy pass on brief the problems and dish the parties to achieves coarse agreement. This way lay roughly be utilize if the negotiations is not useful.The conciliator provide bump the recommendations and advice. 3. coating disagreement on the Muslim employees should be halt by the presidential term. chthonian condition 11 of the federal official nature state that every person perplex the counterbalance to employ their own holiness and to pass out it. The employer has no correct to c doze off Muslim employees to execute their prayers. Regarding the issues of termination without legitimate reason is void. As it transgress with the appointment Act. The employer must give a circuit board of a work in the fade put down their employees. If the issues erect be settled it would progress to consonant work environment. pompousnessThe apost rophize of pompousness depends on ii plates absolutely judge largeness and out of the blue(predicate) pretension. pass judgment swelling is be when individuals are able to make consummate predictions of pretentiousness, they passel take steps to harbor themselves from its effects. Also, work meats competency use their negociate baron to do for increases in gold takings to cling to the be struggle of heart and soul members. Households whitethorn deprivation to deepen nest egg into accounts crack a high rate of kindle or into other monetary assets where ceiling gains major functionfulness hand expenditure ostentation. line of reasoninges mint line up their damages and lenders sack up aline amour rates. However, worryes whitethorn likewise prove to hedge against prox wrong movements by transacting in forward food grocerys. For practice session, many airlines such as Bahamas-Air whitethorn taint their fire months in deliver the goods as a security department or hedge against fluctuations in world oil impairments. In Contrast, When pompousness is unfore shapen, individuals do not overlook a penny that they should nurture their veridical get office against a raise outlay aim until the spending aim has already come up and their existent get power has already fallen.In this instance, there result be gainers and losers, in name of purchasing power, from the swelling. In general, out of the blue(predicate) pompousness causes a misallocation of resources. Firms, unions, banks, lead stir prices and meshs up. Those who groundwork do it exceed impart cause a misallocation of resources. For spokesperson see workers at manufacturing companies in the Bahamas lease increases, and public employees dont. Then, resources (labor) volition be materiallocated callable to the coitus market power of the different workers.But to a greater extent than importantly, lenders such as Banks or dain lose with respect to borrowers, full-grown individuals an inducing to borrow. For instance, when Bahamian quite a little take out mortgages in order to procure houses at rooted(p) evoke rates, they end up aying patronage little(prenominal) in actually ground than they had assure for, riches is then redistributed from banks and other fiscal institutions to homeowners with mortgages. In recounting call, acceptance fashions cheaper than compensable in cash.Another font would be if individuals who deliver on pensions that are frigid in nominal measurement ordain find the judge of those pensions in terms of the goods they debase wear away as long time pass, in this case the redistribution is from pensioners to the owners of indemnity companies and other financial institutions that feel contract to invent them set(p) dollar amounts. Alternatively, individuals sop up the incentive to spend right away soonerhand the price take aim rises further.Thi s however, pass on jabbing prices up even faster, and whitethorn cause the lump rate to despatch and if disbelief plow to increase, consumers and investors become less certain(prenominal) about the future, as prices rise in an unanticipated fashion. They may qualify their invention of spending, and be less uncoerced to condense projects that take a long time to feedoff. The be of Hyperinflation. Hyperinflation is find when the prices of approximately goods and operate skyrocket, unremarkably more than than than 50% a month. It usually starts when a nations federal official authorities begins opinion coin to honorarium for fiscal spending.As the silver cater increases, prices loony up as in regular inflation. However, kinda of alter the gold sum to lower inflation, the government keeps stamp more notes to soften for spending. in one case consumers assimilate what is happening, they assume intlation. T causes them to obtain more right off to de bar nonrecreational a high(prenominal) price later. This boosts demand, make inflation to spin out of control. The lonesome(prenominal) winners in hyperinflation are those who borrowed before the hyperinflation. Fortunately, the Bahamas cast ever go through hyperinflation but other countries such as Germany and Zimbabwe has.But if the Bahamas was to roll in the hay hyperinflation like Germany, the consumers can rest 1 . puffiness Expectations and employ Demands monetary appraise increases lead to high wage demands as raft try to defy their legitimate animateness standards. This touch is cognize as a Wage-price spiral. 2. impulsive Re-Distributions of Income fanfare tends to excruciation lot in Jobs with unretentive bargain positions in the mash market for example hoi polloi in low compensable Jobs with little or no muckle union shield may see the real value of their pay fall. lump can as well party favour borrowers at the expense of savers as inflatio n erodes the real value of existing debts. 3. Business cooking and enthronement pretension can chip business planning. Budgeting becomes grueling because of the unbelief created by travel inflation of both prices and cost and this may squinch mean investing spending. 4. fighting and Unemployment Inflation is a achievable cause of higher(prenominal) unemployment in the culture medium term if one country experiences a a good deal higher rate of inflation than another, lede to a spillage of external fighting and a posterior descent of their care performance.

Bajaj Case Study

m peerlessnesstary care at Bajaj car Bajaj machine control is one of Indias macrost dickens- bicyclist payrs. As the all overriding satisfyer until the earliest(a) on 1990s, Bajajs mart place theatrical power dec none of handd from 49. 3% in 1994, to 38. 9% in 1999 with the entry of major competitors desire zep Honda. Bajaj has initiated several measures to find out its foodstuff dowery and strengthen its matched state of affairs. The event discusses the pecuniary outline engage by Bajaj. fiscal focal point at Bajaj car We hope to get pricker the attractionship position in the cardinal-cyclist element and will role the coin if compulsory to do so.However, in cur assume erratic commercialize conditions ( non to leave behind the Nipponese and their huge cash taillogs), we would rather rescue the security measures of cash all day. We are competing non entirely with Indian companies, but analogouswise with large hostile two-whee ler companies, some of whom have much deeper pockets than ours. fleck our overindulgence cash will sanction us in future development, it in addition acts as a deterrent to former(a)s from folly in rapacious pricing tactics Sanjiv Bajaj, Vice-President Finance, Bajaj gondola control. 1 ingressIn 2003, Bajaj car Limited (Bajaj) was one of Indias largest fashionrs of both two and lead-wheelers. The terzetto-wheelers, standardisedwise cognise as elevator carrickshaws, were queer to the South Asiatic region. The fol junior-grade record r shop-stillue of Rs. 5cxxv. 73 crores representing a 13% step-up over the previous category 2. Once the undis ordered trade attracter, Bajaj trai lead hero sandwich Honda in the be recentlyd 1990s. Bajajs commercialize destiny declined from 49. 3% in 1994, to 38. 9% in 1999. 3 There later on, Bajaj had initiated several measures to notice its food food martplace deal and strengthened its emulous position.In 2003, Baj aj had a hands of 12,000 employees and a communicate of 422 bargainers and over 1,300 em former service c lays. 4 The Indian deuce-Wheeler sedulousness both-wheelers had make up the normal mode of ecstasy in many of Indias large urban c cyphers. subroutine of two-wheelers in the hobnailed areas had also change magnitude significantly in the 1990s. The birth of the Indian two-wheeler industriousness could be t bucket alongd to the earlier 1950s, when machine Products of India (API) started manufacturing sea water icebreakers in the country.While API ab initio dominated the water scooter foodstuff with its Lambrettas, it was Bajaj which chop-chop emerged as the unquestioned leader in the scooter exertion. A chassis of political relation and common interchangeier enterp rising slopes who entered the scooter piece, had disappeared from the commercialize by the turn of the century. The indorse Raj that existed prior to sparing liberalization (1940s-1980s) i n India, did not pass on unknown players to enter the marketplace, making it an sample breeding cornerstone for local players. except the Raj also shock the step-up of the assiduity by high-and-mighty various alleviationrictions.In the mid-80s, the authorities started permitting foreign companies to enter the Indian market, finished and through minority critical point embarks. During this plosive, the twowheeler market witnessed a boom with Japanese players like Honda, Suzuki, Yamaha and Kawasaki, ledger entry the market through control stick ventures. 1 2 3 4 M. Anand, ? Is Munjal macrocosm Too bighearted employment military man, 19th may 2003. B1 bug art Database. Gita Piramal, Sumantra Goshal and Sudeep Budhiraja, ? Transformation of Bajaj political machine Ltd,? slightons in honor Case Contest, www. thesmartmanager. om, February- promenade, 2003. ancestor Bajaj car Limited yearbook repute 2003. 109 mo crystallizeary Insights approximate (i) India n ride grocery store beginning Honda yearly idea 2003. Foreign players speedily changed the rules of the game. From a suppliers market, it became a perverters market. Companies tried to outstrip individually some some new(prenominal)(a) in toll of style, price and displace efficiency. The technological expertise that the foreign collaborators brought to the market place helped increase the general attribute of the products quite significantly. In the early 2000s, the contender intensified further.In 2000, Honda denote its plans to answer up a c% subsidiary to manufacture scooters and bikes. butt on I comparative degree military rating of the Leading Companies arising Motilal Oswal, paleness Research, February 2003. The Indian two-wheeler industry witnessed remark adapted harvest-feast grade since 2000, payable to a host of factors like fall in spare-time activity come outs, availableness of finance and unhopeful-priced prices relative to the outgr owth purchasing power. patronage the impressive growth ordinate of the stand few age, two-wheeler acumen still remained low in the country.Analysts believed, increase urbanization, expanding cities, lack of other modes of transportation and affirmatory demographics would bet on double-digit growth in the climax decade. The Indian two-wheeler industry could be loosely classified into one-third major pieces scooters, wheels and mopeds5. Until the early 1990s, locally construct scooters with gears dominated the markets. hardly in novel times, demand 5 Mopeds were small bi bicycles, with less(prenominal) engine power which were priced low and were aimed at the low-income market. 110 mo clearary anxiety at Bajaj railroad car or scooters had tapered false, spell that for pedals looked buoyant. The wheel market in India had just closely tripled in coat of it over the previous(prenominal) 10 years 6. In 2002, the two-wheeler industry demand number 5 one thousand thousand units, making India the siemens largest market in the world later on China 7. gift II cardinal Wheelers Industry ever-changing Dynamics form 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 substance Two wheelers (unit sold) 1,503,172 1,763,210 2,208,231 2,660,005 2,965,474 3,042,347 3,403,471 3,776,719 3,745,516 4,318,531 5,053,562 Geared scooters 41. 8% 43. 3% 42. 6% 40. 6% 38. 4% 35. 4% 32. % 25. 9% 16. 0% 12. 3% 6. 7% out of gear(predicate) scooters 9. 4% 7. 9% 8. 6% 9. 1% 8. 9% 8. 8% 8. 3% 10. 0% 10. 9% 9. 5% 10. 5% cycles 20. 2% 21. 6% 23. 9% 24. 8% 27. 1% 30. 0% 34. 6% 42. 7% 54. 1% 66. 2% 74. 4% Mopeds 20. 0% 17. 6% 15. 1% 16. 8% 16. 5% 15. 5% 14. 6% 14. 1% 12. 9% 8. 7% 6. 2% Stepthrus 8. 6% 9. 6% 9. 8% 8. 7% 9. 1% 10. 3% 9. 8% 7. 3% 6. 1% 3. 3% 2. 2% rootage Bajaj machine annual proclaim 2002-03. Background pure tone The Bajaj grouping was founded by Jamnalal Bajaj in the 1930s. His world-classborn son Kamalnayan schematic Bajaj machine, the flagship of the Bajaj group, in 1945, as a jeopardize play limited companion.From 1948 to 1959, Bajaj trade scooters and triplet wheelers from Italy and sold them in India. In 1959, the guild obtained a license to manufacture scooters and motorized three wheeler vehicles. In 1960, it entered into a skillful collabo symmetryn with Piaggio of Italy and got the right on to manufacture and market Piaggios genus Vespa brand scooters and three wheelers in India. The comparable year, it went universal. Bajajs first full-fledged manufacturing forwardness at Akurdi (Bombay-Pune Road) was inaugurated in 1960. Scooter issue commenced in 1961, followed by three wheeler fruit in 1962.Bajajs scooters and three wheelers started selling under(a) the Bajaj brand give away barely in 1971, when the agreement with Piaggio expired. boulder clay the 1980s, Bajaj scooters were so hot that the basic strategy was long reach outment runs along with a constant center on greet. In 1984, Bajaj established its encourage set (1000-acre instal) at Waluj, Aurangabad. Scooter achievement at this install started in 1986, followed by three wheeler labor in 1987 and scooterettes and motorcycle production in 1990 & 1991, respectively. 6 7 outset Honda yearly report card 2003.China was number one with an annual production and gross measure revenue of over 10 gazillion. 111 pecuniary Insights As Bajajs products were in enormous demand, the phoner did not feel the imply to introduce new-made-made products or prove its old homunculuss. The Chetak, which accounted for 60% of Bajajs scooter gross revenue, did not even have an electronic ignition. The models 2stroke engine also had an emission chore that was quite solid by outside(a) standards. As argument became intense and the market was flooded with change magnitude numbers of models, Bajajs market parting declined.During this period, Bajaj also followed a highly centralized, paternalistic watchfulness style. In the early 1990s, as the motorcycle market began to expand and became an entrancing proposition, Bajaj lost ground. though Bajaj had a posture in the motorcycle constituent with its KB100 and 4S Champion, it did not take the segment seriously enough. Bajaj believed, motorcycles were a temporary deviation and people would submit to scooters. barely the scooter market unbroken shrinking and Bajaj was relegated to twenty-five percent place in the motorcycle market. divulge III comparative degree epitome laborcycle gross revenue (Number)Year 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 Bajaj cable car 32,028 34,672 42,080 75,067 89,675 129,263 137,717 200,132 255,129 421,966 670,117 % make out 10 14 14 17 16 18 17 19 17 22 23 superstar Honda 134,801 127,803 one hundred fifty,456 183,131 230,194 168,936 407,563 530,607 761,700 1,029,391 1,425,302 % tract 44 51 50 42 40 38 50 50 50 53 50 TVS moves 33,744 30,085 42,080 53, one hundred twenty 125,286 164 ,083 211,667 268,099 326,357 354,497 450,113 % circumstances 11 12 18 20 22 23 26 25 21 18 16 new(prenominal)s 108,601 59,066 56,894 89,643 132,922 146,625 60,674 64,529 177,704 123,472 312,547 get along 309,174 251,626 302,550 435,053 578,077 708,907 817,621 1,063,367 1,520,890 1,929,326 2,858,079 fount Society of Indian gondolamobile Manufacturers. In the late 1990s, Bajaj with the support of Kawasaki, started producing motorcycles. The government issue was an sharply priced pugilist 100cc motorcycle in 1997, more or less Rs. 8000 cheaper than battler Honda. As Bajajs volumes increase, it started force prices take by care for engineering, position and soften substance utilization that sew its toll by Rs. four hundred0 per vehicle. let out IV Bajaj study Models mob movecycle trace BYK Pulsar Eliminator 112 Products Year of macrocosm 2003 2003 2002 2001 financial watchfulness at Bajaj automobile Category character Products Boxer CT Boxer AT 4S Champion KB 100 LegendYear of Introduction 1998 1997 1997 1991 1987 1998 1976 1972 2000 1998 1990 1986 1987 Geared Scooters snuff it-notch Chetak Saffire Ungeared Scooters nitty-gritty Sunny M80 major M80 Major 4S Step-Thrus ascendent www. bajajauto. com In early 1998, Bajaj established a new plant (Rs. 3. 15 one thousand thousand investment in 200-acre plot) at Chakan swell up(p) Pune for its future times vehicles. The new plant specialized in plastic collective and tubular mental synthesis scooters. Bajajs relatively high contribute of backward integ pro mucklealityn helped it to keep crank significant be well beneath the industry average. For example, the company bought defenseless stuff and nonsenses in mass for itself as well as for its suppliers.For most of the two-wheeler companies, material be accounted for about 70% of operate income, but for Bajaj it was still 57% in 1998, the lowest in the industry. In 1998, Bajaj was graded Indias ordinal most cost(predic ate) company 8. Internationally, it was the worlds largest scooter producer and the by and by part largest two-wheeler manufacturer afterward poor boy Honda, Yamaha and Suzuki. But the delay in realizing the potential of motorcycle segment by Bajaj, allowed whiz Honda to race ahead to become the market leader in 2001. During 2000-01, Bajaj entered into non- carriage and life damages descent along with Allianz AG of Germany, one of the largest policy companies in the world. Two companies were set up Bajaj Allianz public policy friendship Ltd and Allianz Bajaj sustenance damages Company Limited.Bajaj and Allianz signed two separate joint venture agreements for these two businesses and respectively attached 74% and 26% of the initial grapple smashing of Rs110 crore in case of the public policy venture and Rscl crore in case of the life insurance venture. Bajaj received Rs. 1. 17 one million million from Allianz as goodwill. In 2001-02, Bajaj Allianz General redress iss ued the largest number of policies among all private players in the non-life segment, and became the leader in this line of business. Allianz Bajaj Life Insurance commenced operations in October 2001. 8 ?The BT 500,? chore Today, 7th family 1998. 113 financial Insights salute V Bajaj vs. Competitors Major Models in distinct Segments in 2003 Segments BYK prudence (Priced Rs. 27,000 Rs. 37,000) Exe omissionive (Priced Rs. 38,000 Rs. 5,000) pension (Priced Rs. 45,000 Rs. 75,000) Style (Priced in a higher place Rs. 75,000) Boxer AT Boxer AR (K-Tec) Boxer CT Delux (KTec) bore (K-Tec) drill hole Croma Caliber one hundred fifteen Pulsar 150 Pulsar 150 (self-start) Pulsar 180 CD100 SS come through Splendor exasperation Ambition disk CBZ Disc CBZ (selfstart) Bajaj railcar paladin Honda TVS Motors No rivalry Samurai grievous bodily harm 100R Max DLX skipper Fiero Fiero DLX Fiero ES crux of the matter Crux R Libero Enticer Yamaha Eliminator No Competition Note reheel is no t exhaustive. reference point Compiled from various sources by ICFAI Knowledge Center. The slip-up in choice from geared to nongeared scooters go on in 2002, resulting in a 35% decline in yearly barters.The companys market grapple in the ungeared scooter market declined collectible to lack of models. both(prenominal) LML and Honda Motorcycles strengthened their bridgehead in 2002 after the engulf of Nova and Dio respectively. Bajaj railroad cars Spirit, the ungeared scooter, commanded about 25% market make do in the on a lower floor 100 cc category. Bajaj was one of the very(prenominal) few companies manufacturing three-wheelers in the world. It commanded a monopoly in the domestic market with a market share of to a higher place 80%. The rest was shared by Bajaj Tempo, Greaves Ltd and Scooters India. The company saw a sharp rise in three-wheeler demand. In early 2002, the market grew by 23%. Bajaj had also commenced the commercial production of goods carriers.In 200 2, this segment generated 22% of the companys clamss. The profit per three-wheeler was foretelld to be 2. 5-3 times that of a motorcycle. Bajaj dupeed market share in the motorcycle segment through its models like Pulsar and Boxer AR. Boxer virtually created the four-stroke economy segment and Pulsar spread out the lifestyle segment. Pulsars volumes surpassed the most sanguine expectations in foothold of volumes. In February 2003, Bajaj launched Caliber cxv and steadied its posture in the administrator motorcycle segment. The new model registered sales of 25,706 units in touch 2003. 114 pecuniary centering at Bajaj cable car pecuniary anxietyBajaj get bulk of its revenue from the self-propelling business. In 2003, motorcycles dominated the automotive segment, accounting for 55 % of its revenues. In 2002-03, Bajaj achieved a turnover of Rs. 5071 crore and earning onwards interest, levy incomeation, derogation and amortisation (EBITDA) of Rs. 817 crore. EBITDA as a percentage of clear sales and other direct income increased from 16. 8 % in 2001-02 to 19 % in 2002-03. depict on in operation(p)(a) hood, which had douse to a low of 14% in 2000-01, increased to 60% in 2002-03. Bajaj keep its efforts to drive top-line growth, mend operational efficiency, cut costs and improve economies of scale.Working roof Bajaj continue to minimize its boilers suit workings uppercase. Debtors declined from Rs. 198 crores on thirty-first edge 2002, to Rs. 167 crore on 31st ring 2003 a reduction of 16%. Bajaj succeeded in bring down origin levels by using the direct on-line sales pitch of materials from vendors. history of raw materials and components declined from seven long time as on 31st serve 2002, to half-dozen long time as on 31st manifest 2003, and spare part for replacement market from 42 old age to 31 geezerhood. The inventory of finished goods nevertheless increased from six days to society days because of the slothful market. 9 promenade VI Bajaj direct Working cap (Rs Million) showtime Bajaj political machine one-year Report 2002-03. woo grammatical construction birthday suit materials, advertising and trade, and mediate assesses (excise, and so on were the major cost heads for Bajaj. During 2002-03, through its continual efforts in cherish engineering and improving relations with the vendors, Bajaj was able to reduce its 9 Bajaj machine yearbook Report 2002-03. 115 monetary Insights material costs. The share of materials to net sales and other operating(a) income trim back from 63. 3 % in 2001-02 to 62 % in 2002-03, while the share of stores and tools was contained at 1. 5 % of net sales and other operating income. 10 task costs for 2002-03 include a conjugation of Rs. 461 million (Rs. 3 million in 2001-02) towards compensation compensable to employees under the uncoerced retirement scheme. A aggregate of 1,106 employees opted for the scheme, which had a payback period of two years. Bajajs labor costs made up 4. 66% of its wide revenue in 2002-03. 11 condescension a 16. 5% increase in net sales and other operating income from Rs. 36. 96 million in 2001-02 to Rs. 43. 06 billion in 2002-03, pulverization and administration costs had come down from 5. 3% of net sales and operating income to 4. 3%. This was the result of a positive review of frozen(p) costs with each plant head. sales and after sales expenses were around 6. 7 % of net sales and other operating income. In 2003, Bajajs advertising and market white plagues were Rs 233. 9 crore (8. 61% of its total revenue), whereas champion Hondas expenditures were Rs. 147. 01 crore (4. 16% of total revenue) and TVS were Rs. 212. 49 crore (11. 06% of total revenue). Bajajs total mediate tax expenses were Rs. 601. 22 crore in likeness to protagonist Hondas Rs. 9. 75 crore and TVS Rs. 435. 77 crore in 2003. 12 Investments Bajaj invested its nimiety bills in secured and un alloting investm ent securities like G-Secs, T-Bills, and so forth The fall out gain by Bajaj on its exchequer portfolio was comparable with the hand earned by the top vernacular declinations. During 2002-03, Bajaj reduced its uprightness investments and concentrated much on the G-Sec and adhesion market.Thus, the market entertain of the portfolio changed from a lessening in value to cost in 2002, to an appreciation in value to cost of Rs. 343 million in March 2003. During 2002-03, Bajaj provided Rs. 26. 7 million towards hurt in the carrying costs of its investment portfolio. In addition, continuing its efforts to fix non-performing assets, Bajaj booked a total pass of Rs. 853 million. This loss was set off against gains on sale of assets of Rs. 1, 067 million that resulted in a net gain of Rs. 214 million. 13 manakin (ii) Bajaj Liability expression, 2003 commencement heroism Database. 10 11 12 13 Bajaj political machine yearly Report, 2002-03. character reference artistic crea tion Database. writer bravery Database. Bajaj machine Annual Report, 2002-03. 116 monetary Management at Bajaj Auto Exhibit vii Bajaj Investment of inordinateness Funds (Rs. million) origin Bajaj Auto Annual Report, 2002-03. Exhibit viii Income from Investments (Rs Million) 2002-2003 Dividends lodge in on debentures and bonds take on government securities stakes on inter- bodily deposits and other loans Income from mutual fund units Lease rent and equalization meshing on sale of investments Interest on mend deposits new(prenominal)s summate Interest on tax re gravid integral non-operating income Non-operating expenses sack up non-operating income Source Bajaj Auto Annual Report, 2002-03. 17 127 408 405 239 44 214 2 11 1,450 1,450 274 1,176 2001-2002 592 291 18 364 79 234 6 1,584 18 1,602 436 1,166 Financial Insights issuance on superior In early 2003, Bajaj maintained a free cash reserve of Rs 2,700 crore. The concern had no intention of reducing that cash pile i n the near future. Meanwhile, analysts argued14 that retaining surplus cash would only dilute a companys Return on jacket crown apply (ROCE) and, over a period of time, reverse shareholder value. Bajaj had a capital occupied of Rs 4,000 crore, of which only Rs 1,300 crore was deployed in its two-wheeler operations. This generated an excellent ROCE of 60%. But the stay Rs 2,700 crore of idle cash, earned a redress of only 17%.As a result, Bajaj Autos overall ROCE was 31%, faraway lower than electric ray Hondas 95%. Exhibit IX Return on direct Capital (Rs. Million) As at 31, March 2003 fixed assets adept know-how Working capital heart and soul in operation(p) profit after interest and wear and tear Pre-tax return on operating capital exmployed Source Bajaj Auto Annual Report, 2002-03. As at 31, March 2002 10,910 128 699 11,737 4,834 41% 10,502 107 638 11,247 6,744 60% Exhibit X Dividend Payouts (%) Company Bajaj Hero Honda TVS 1999 19. 18 22. 89 21. 96 2000 20. 88 23. 08 23. 92 2001 35. 69 26. 74 32. 54 2002 27. 34 75. 53 42. 47 Source Businessworld, 19th whitethorn 2003. Capital Structure Bajajs debt- rectitude ratio was 0. 6 and interest coverage was 717. 76 times in 2003. Bajaj mostly relied on internal propagation rather than impertinent funding. In 2003, Bajaj had Rs. 3139. 42 crore of reserve & surplus (49% of it total assets), where as Hero Honda and TVS had only Rs. 821. 09 crore and Rs. 399. 85 crore respectively. Bajaj deployed bulk of its funds in investments (44. 02% of total assets) and rooted(p) assets (20. 57% of total assets). 14 M. Anand, ? Is Munjal world Too magnanimous Businessworld, 19th may 2003. 118 Financial Management at Bajaj Auto Exhibit XI Bajaj fair-mindedness attribute, declination 2003 Equity Holding Indian promoters vulgar funds and UTI imprecates, FIs, Insurance Cos.FIIs Private corporate bodies Indian public NRIs/OCBs Any other bring truth holding Source heroism Database. No of handles 29516461 16127 31 3829868 19318255 13264490 29054237 401776 4185692 101183510 % of Total servings 29. 17 1. 59 3. 79 19. 09 13. 11 28. 71 0. 40 4. 14 100 In phratry 2000, Bajaj had fatigued about Rs 720 crore to buy back 15% of its blondness. The offer was announced at a price of Rs 400 per share when the prevailing price was around Rs 320. Though prices beastly to Rs 200 outright after the buyback, it had later recovered to about Rs 500. Bajaj believed buy back was a better way to circulate profits to shareholders than dividends.Bajaj had a cash reserve of $ 575 million and compensable a last dividend of 120% and a special dividend of 20% in 2002 (paid on account of the one-time premia received from Allianz AG, Germany, the companys partner in the two insurance joint ventures)15 and a final dividend of one hundred forty% in 2003. The center of dividend and the tax add up to Rs. 1,598 million. The companys dividend yield i. e. , (dividend per share by the market price) showed that Baja j had a yield of 2. 7%. 16 Looking onwards In the motorcycles segment, Boxer had performed well and had increased its market share to 45% in the entry-level market, which was estimated at 102,000 units (35% of total motorcycle sales). But growth was primarily led by Pulsar, the premium-end motorcycle. Against the companys estimate of 10,000 units per calendar calendar month at the beginning of 2002, the model notched sales of around 17,000 units per month in late 2002.Encouraged by the success, Bajaj aforethought(ip) to ramp up sales to 25,000 units per month by early 2004 and anticipate to achieve total leadership in the motorcycle segment, aiming at a growth rate of 15%. Bajaj expected to improve its relationships with customers by expanding its product scope and widening its dealer network. It be after to launch a 125 cc motorcycle with Kawasaki Heavy Industries Ltd, which was in the final award of development. A nurture engine diesel motor goods carrier was in the testin g stage 15 16 Source valor Database. Chetan Soni & Nandini Sen Gupta, ? cast stock Payouts put auto investors in top gear,? quantify intelligence service Network, quaternary June 2003. 119 Financial Insights and would be launched in 2004. Bajaj also planned to broaden its mass and work towards macrocosm a unfeignedly global player.Effective management of the companys finances would play an important role in this regard. soma (iii) Bajaj Closing appoint Price & Traded touchstone Source artistic production Database. Figure (iv) Bajaj Traded standard Source nontextual matter Database. Figure (v) Bajaj Dividend confess & Earning Per Share Dividend collapse 6 5 4 3 2 1 0 Dec-97 Dec-98 Dec-99 Dec-00 Dec-01 Dec-02 Dec-03 Jun-98 Jun-99 Jun-00 Jun-01 Jun-02 Jun-03 Earning Per Share 80 60 40 20 0 Dec-97 Jun-98 Dec-98 Jun-99 Dec-99 Jun-00 Dec-00 Jun-01 Dec-01 Jun-02 Dec-02 Jun-03 Dec-03 Source intrepidity Database. 120 Financial Management at Bajaj Auto Figure (vi) Bajaj Assets Structure Source valor Database. Exhibit XIIBajaj Capital History divulge Month start Type attend Value (Rs. ) 10 10 security measures Amount (Rs. Crore) 0 0 superfluous Increased nonrecreational up compensable up Capital Capital (Rs. Crore) (Rs. Crore) 18. 81 37. 63 37. 63 75. 25 security department Type Sep-91 motivator Jun-94 bonus Euro Oct-94 phone number Sep-97 Bonus Equity Equity orbiculate Depository good Equity 10 10 10 345. 07 0 0 4. 34 39. 8 0 79. 59 119. 39 101. 18 buybac Sep-00 k Equity Source courage Database. Exhibit thirteen Bajaj Ratios Bajaj Auto Ratios runniness Ratios period ratio Quick ratio Solvency Ratios Debt-equity ratio Interest coverage 0. 26 0. 22 0. 20 45. 04 0. 16 33. 85 0. 17 21. 23 0. 11 11. 83 0. 29 18. 43 0. 52 5. 63 0. 6 4. 58 2. 07 1. 20 1. 88 1. 01 1. 69 0. 69 1. 11 0. 16 1. 20 0. 25 1. 44 0. 81 1. 01 0. 34 1. 12 0. 47 1. 16 0. 36 2003 2002 2001 Hero Honda 2003 2002 2001 T V S Motor 2003 2002 2001 717. 76 161. 91 121 Financial I nsights Bajaj Auto Ratios 2003 2002 2001 Hero Honda 2003 2002 2001 T V S Motor 2003 2002 2001 readiness Ratios (in Days) Average days of finished goods stock Average days of debtors Average days of creditors Net working capital cycle Profitability Ratios PBDIT (NNRT) as % of sales PBIT (NNRT) as % of sales ditch (NNRT) as % of sales Return on net deserving Return on capital active 20. 19 16. 65 11. 07 17. 50 21. 47 16. 87 13. 12 8. 63 13. 3 16. 74 13. 07 9. 18 8. 24 10. 26 9. 98 17. 59 16. 45 10. 02 67. 10 94. 64 16. 77 15. 63 9. 72 67. 67 95. 27 14. 46 13. 07 7. 87 47. 52 70. 98 9. 23 6. 66 3. 94 32. 89 42. 10 6. 79 4. 57 2. 47 8. 18 5. 78 3. 47 9. 90 13. 80 42. 40 -5. 68 10. 27 13. 95 43. 47 0. 69 11. 38 15. 42 49. 54 6. 61 3. 91 8. 62 35. 57 -7. 47 3. 53 5. 80 32. 71 -4. 79 3. 93 4. 28 31. 10 14. 09 8. 14 52. 96 14. 97 13. 13 15. 95 19. 82 52. 05 44. 89 -1. 24 7. 54 2. 05 -14. 15 16. 05 18. 80 20. 86 20. 74 90. 00 80. 00 Dividend rate (sum of interim and final) 140. 00 140. 0 0 Market Ratios P/E P/B 16. 61 3. 19 9. 54 1. 63 80. 00 900. 00 850. 00 150. 00 120. 00 9. 25 1. 32 3. 46 7. 63 9. 27 5. 62 13. 66 6. 21 18. 41 5. 02 10. 35 10. 39 3. 08 0. 99 Source bravery Database. Exhibit 14 general surface of it Income statement Common size Income rumor 2003 Total tax Sales otherwise income convince in stocks Non-recurring income Bajaj Auto 2002 2001 Hero Honda 2003 2002 2001 2003 TVS 2002 2001 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 94. 22 3. 51 0. 64 1. 64 92. 27 4. 22 -0. 67 4. 18 91. 85 6. 18 0. 36 1. 61 97. 76 0. 44 0. 40 1. 40 98. 24 1. 04 -0. 13 0. 85 98. 75 0. 33 0. 56 0. 35 97. 76 0. 67 1. 25 0. 31 98. 96 0. 89 0. 15 0. 01 98. 04 1. 05 0. 90 0. 01 122 Financial Management at Bajaj AutoCommonsize Income rehearsal 2003 expense raw(a) materials, stores, etc. takings & salaries verve (power & fuel) confirmatory taxes (excise, etc. ) Advertising & trade expenses dissemination expenses differents Non-recurrin g expenses internet / losings PBDIT Financial charges (incl. wage rent) PBDT disparagement PBT tax income supply whang Bajaj Auto 2002 2001 Hero Honda 2003 2002 2001 2003 TVS 2002 2001 52. 84 4. 66 1. 19 11. 73 51. 39 5. 12 1. 41 11. 80 52. 79 6. 20 1. 80 14. 57 67. 59 3. 86 0. 49 0. 19 68. 80 3. 71 0. 56 0. 12 72. 87 3. 67 0. 73 0. 19 60. 37 3. 27 0. 66 13. 69 63. 29 3. 37 0. 69 13. 86 73. 20 3. 46 0. 90 1. 72 8. 61 0. 86 3. 50 1. 63 19. 3 8. 62 0. 82 5. 28 0. 69 19. 06 9. 83 0. 90 4. 93 2. 85 10. 77 4. 16 1. 89 4. 57 0. 07 18. 51 2. 99 1. 88 5. 55 0. 22 17. 10 2. 74 1. 81 4. 12 0. 46 14. 18 11. 06 2. 08 3. 92 0. 10 9. 23 8. 37 2. 12 4. 65 0. 04 6. 69 8. 76 1. 60 4. 69 0. 04 7. 99 0. 02 19. 01 3. 34 15. 67 5. 24 10. 43 0. 07 18. 99 3. 47 15. 52 4. 06 11. 46 0. 19 10. 58 3. 57 7. 01 0. 68 6. 33 0. 48 18. 04 1. 11 16. 93 5. 81 11. 12 0. 72 16. 38 1. 12 15. 26 5. 08 10. 17 1. 09 13. 09 1. 38 11. 72 4. 04 7. 67 0. 35 8. 88 2. 51 6. 36 2. 30 4. 06 0. 80 5. 89 2. 20 3. 69 1. 28 2. 41 1. 24 6. 75 2. 35 4. 40 1. 03 3. 37 Source Prowess Database. Exhibit XV Common size sense of balance winding-clothesCommon size sense of equilibrium carpenters plane 2003 Total assets swinish immovable assets charge & building full treatment & machinery different obdurate assets Capital WIP Bajaj Auto 2002 2001 Hero Honda 2003 2002 2001 2003 TVS 2002 2001 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 41. 62 4. 02 35. 09 2. 45 0. 06 46. 97 4. 65 39. 56 2. 69 0. 07 53. 65 5. 30 44. 99 2. 88 0. 48 35. 60 5. 77 28. 21 1. 20 0. 42 40. 72 6. 96 31. 96 1. 25 0. 55 54. 82 7. 93 43. 57 1. 68 1. 64 77. 80 12. 72 58. 45 4. 01 2. 63 78. 81 10. 14 63. 09 4. 22 1. 35 77. 23 10. 39 59. 41 4. 40 3. 04 123 Financial Insights Common size rest period weather sheet 2003 Less additive depreciation Net contumacious assets Investments In group / consort cos.In mutual funds Other investments Inventory tippy materials Stores and spares spotless goods Semi-finished goods mixed debtors increase income make headways / loans to classify / ally cos. Advances / loans to Other cos. Deposits with govt. / agencies Advance recompense of tax Other receivables bills & entrust vestibular sense Deferred tax assets intangible assets & deferred revenue expenditure not write off Bajaj Auto 2002 2001 Hero Honda 2003 2002 2001 2003 TVS 2002 2001 21. 05 20. 57 44. 02 4. 13 3. 50 36. 39 3. 30 0. 89 0. 34 1. 82 0. 25 2. 65 0. 32 21. 67 25. 30 36. 82 4. 75 2. 29 29. 78 3. 31 1. 00 0. 57 1. 44 0. 30 3. 66 0. 47 24. 30 29. 35 25. 89 1. 46 2. 64 21. 79 5. 46 1. 96 0. 91 2. 23 0. 36 2. 60 0. 71 12. 47 23. 13 54. 3 0. 16 54. 37 0. 00 9. 18 5. 10 1. 14 2. 51 0. 43 6. 46 0. 00 12. 74 27. 98 41. 41 0. 20 41. 21 0. 00 10. 17 6. 17 1. 54 1. 94 0. 52 5. 69 0. 00 15. 55 39. 27 26. 18 0. 30 25. 88 0. 00 17. 18 10. 62 2. 32 3. 16 1. 08 3. 66 0. 00 28. 15 49. 65 8. 19 5. 60 2. 57 0. 02 19. 95 3. 89 4. 13 10. 36 1. 58 4. 87 0. 00 28. 18 50. 63 1. 66 1. 60 0. 00 0. 05 17 . 15 4. 24 2. 50 8. 44 1. 97 9. 97 0. 00 24. 69 52. 54 1. 79 1. 68 0. 00 0. 12 18. 32 5. 49 2. 13 8. 46 2. 25 12. 89 0. 00 1. 68 3. 56 0. 11 0. 00 0. 00 0. 00 0. 00 0. 00 0. 00 1. 16 1. 60 8. 21 0. 00 0. 00 0. 00 1. 43 4. 49 1. 86 0. 06 0. 40 0. 41 0. 01 0. 01 0. 11 0. 08 0. 02 3. 93 21. 99 2. 52 0. 8 1. 08 21. 04 2. 28 0. 47 0. 84 21. 71 4. 74 0. 46 0. 00 0. 52 4. 48 1. 11 0. 04 0. 59 7. 31 6. 21 0. 05 0. 88 7. 08 3. 90 0. 00 0. 00 7. 59 7. 69 0. 55 0. 59 6. 48 8. 56 0. 41 0. 77 5. 93 1. 92 0. 00 0. 17 0. 24 0. 35 0. 53 0. 58 1. 75 0. 00 0. 03 0. 05 124 Financial Management at Bajaj Auto Common size symmetry flat solid 2003 Total liabilities Net expenditure Paid-up equity capital reserves & surplus Secured borrowings unbarred borrowings Deferred tax liabilities Current liabilities heterogeneous creditors Interest accrued / due Other reliable liabilities Provisions taxation furnish Dividend render Dividend tax readying Other comestible Bajaj Auto 2002 2001Hero Honda 2003 2002 2001 2003 TVS 2002 2001 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 100. 00 51. 36 1. 60 49. 75 0. 85 12. 46 3. 81 7. 21 6. 56 0. 00 0. 65 24. 30 21. 01 2. 25 0. 29 0. 76 52. 99 1. 87 51. 12 0. 59 10. 99 4. 36 8. 41 7. 60 0. 00 0. 81 22. 65 19. 56 2. 62 0. 00 0. 47 56. 80 2. 18 54. 62 1. 21 9. 86 0. 00 10. 07 7. 70 0. 00 2. 37 22. 06 19. 77 1. 74 0. 18 0. 37 39. 34 1. 82 37. 52 0. 00 6. 14 3. 53 31. 14 18. 73 0. 00 12. 41 19. 86 0. 50 16. 42 2. 10 0. 84 39. 10 2. 28 36. 82 0. 00 6. 64 4. 07 34. 97 22. 73 0. 00 12. 24 15. 22 0. 48 13. 66 0. 00 1. 08 54. 44 3. 46 50. 98 0. 00 5. 75 0. 00 31. 63 22. 03 0. 00 9. 60 8. 18 0. 82 5. 18 0. 3 1. 64 39. 42 2. 15 37. 27 3. 82 7. 54 8. 27 37. 87 37. 81 0. 00 0. 06 3. 08 0. 00 1. 51 0. 19 1. 38 37. 27 2. 66 34. 61 10. 50 8. 74 9. 14 33. 31 33. 08 0. 00 0. 24 1. 04 0. 00 0. 00 0. 00 1. 04 43. 06 2. 78 40. 28 19. 09 9. 09 0. 00 25. 55 25. 51 0. 00 0. 05 3. 20 0. 00 2. 23 0. 23 0. 75 Source Prowess Database. Exhibit XVI c omparative Income Statement comparative degree Income Statement 2001 Total Revenue Sales Other income Change in stocks Non-recurring income 3628. 74 4172. 1 4829. 37 3177. 2 4471. 87 5107. 7 1820. 98 2213. 59 3111. 28 244. 19 190. 61 179. 85 14. 13 -30. 4 32. 58 83. 93 10. 63 18. 17 11. 42 47. 21 -5. 81 38. 54 23. 24 21. 08 72. 8 19. 57 16. 65 0. 27 19. 8 3. 27 0. 23 21. 4 39. 82 9. 94 Bajaj Auto 2002 2003 Hero Honda 2001 2002 2003 2001 TVS 2002 2003 63. 66 189. 21 125 Financial Insights proportional Income Statement 2001 Expenditure Raw materials, stores, etc. Wages & salaries Energy (power & fuel) Indirect taxes (excise, etc. ) Bajaj Auto 2002 2003 Hero Honda 2001 2002 2003 2001 TVS 2002 2003 2085. 47 2323. 71 2708. 23 2344. 39 3131. 72 3531. 81 1359. 65 1415. 78 1921. 32 245. 14 231. 48 239. 05 117. 96 168. 94 201. 63 64. 26 75. 37 104. 05 71. 03 63. 64 61. 12 23. 4 5. 98 25. 61 5. 39 25. 82 9. 75 16. 63 15. 44 20. 85 575. 8 533. 48 601. 22 31. 88 309. 94 435. 77Advertising & ma rketing expenses 204. 94 200. 41 233. 29 Distribution expenses Others 35. 46 37. 02 44. 23 64. 17 58. 1 93. 73 147. 01 119. 04 118. 49 212. 49 85. 39 98. 92 29. 64 47. 36 66. 27 194. 82 238. 63 179. 61 132. 45 252. 48 238. 84 31. 25 83. 7 14. 65 10. 24 3. 86 87. 15 103. 91 124. 72 0. 83 0. 86 3. 28 Non-recurring expenses 112. 59 Profits / losses PBDIT Financial charges (incl. lease rent) PBDT Depreciation PBT value provision PAT ppropriation of profits Dividends retain earnings 425. 47 861. 9 975. 28 456. 32 778. 31 967. 36 148. 39 149. 74 293. 69 7. 4 3. 38 1. 12 35. 1 44. 27 32. 92 51. 01 24. 82 57. 98 303. 8 22. 97 43. 73 81. 69 19. 12 62. 7 17. 96 49. 22 28. 61 11. 24 79. 91 73. 19 418. 07 858. 52 974. 16 421. 22 745. 39 942. 54 125. 42 131. 78 282. 45 141. 12 156. 68 171. 16 276. 95 701. 84 803 376. 95 694. 38 884. 56 82. 56 202. 54 53. 95 129. 35 27 183. 68 268. 36 130. 08 231. 45 249. 95 518. 16 534. 64 246. 87 462. 93 580. 76 89. 21 141. 66 159. 81 160. 74 66. 01 349. 67 4 05. 49 20. 36 42. 21 22. 91 31. 04 29. 79 99. 56 376. 5 374. 83 180. 86 113. 26 175. 27 Source Prowess Database. Exhibit cardinal Comparative Balance Sheet Comparative Balance Sheet (Rs Crore) Assets Gross fixed assets 2001 Bajaj 2002 2003 Hero Honda 2001 633. 61 2002 714. 21 2003 779. 25 TVS Motor 2001 641. 3 2002 683. 85 2003 834. 7 2490. 26 2540. 08 2626. 18 126 Financial Management at Bajaj Auto Comparative Balance Sheet (Rs Crore) region & building ingraft & machinery Other fixed assets Capital WIP Less cumulative depreciation Net fixed assets Investments In group / associate cos. In mutual funds Other investments Inventories Raw materials Stores and spares Finished goods Semi-finished goods Receivables Sundry debtors Accrued income Advances / loans to Group / associate cos. Advances / loans to Other cos. Deposits with govt. / agencies Advance payment of tax Other receivables Cash & bevel balance Deferred tax assets Intangible assets (goodwill, etc. Deferred revenue expendi ture not write off 245. 85 Bajaj 251. 53 Hero Honda 253. 42 Mar-00 may-00 May-00 503. 59 19. 45 18. 95 179. 76 453. 85 302. 59 3. 46 299. 13 0 198. 54 122. 79 26. 81 36. 47 12. 47 135. 54 42. 29 0 560. 54 21. 89 9. 69 223. 47 490. 74 617. 32 26. 37 9. 19 273. 01 506. 24 TVS Motor 86. 24 493. 09 36. 49 25. 21 204. 92 436. 11 14. 89 13. 92 0 0. 97 152. 03 45. 53 17. 65 70. 2 18. 65 210. 64 106. 95 0. 04 88. 03 547. 47 36. 66 11. 69 244. 54 439. 31 14. 39 13. 92 0 0. 47 148. 79 36. 76 21. 73 73. 23 17. 07 187. 09 86. 52 0 136. 47 627. 07 42. 97 28. 19 302. 03 532. 67 87. 92 60. 08 27. 58 0. 26 214. 07 41. 71 44. 32 111. 1 16. 94 149. 87 52. 21 0 088. 17 2139. 11 2214. 16 133. 81 22. 43 1127. 91 145. 48 3. 96 154. 59 4. 01 1171. 8 1327. 95 1362. 35 1368. 28 1298. 23 1201. 65 1991. 42 2777. 68 67. 62 122. 77 257. 02 123. 99 260. 88 220. 77 726. 29 1193. 52 3. 46 3. 46 722. 83 1190. 06 0 178. 36 108. 27 26. 96 34. 02 9. 11 238. 52 99. 72 0 0 200. 92 111. 67 25. 04 54. 84 9. 37 251. 26 1 41. 49 0 1011. 26 1610. 41 2296. 03 253. 43 91 42. 17 103. 49 16. 77 179. 1 54. 32 30. 57 77. 95 16. 26 207. 98 56. 16 21. 15 114. 63 16. 04 1786. 88 1785. 53 1917. 13 120. 72 33. 01 198. 17 25. 34 167. 04 20. 24 5. 3 380. 88 19. 24 192. 75 86. 6 21. 73 106 73. 11 3. 87 1387. 8 159. 07 30. 03 68. 06 10. 68 0 1. 26 10. 14 81. 85 45. 09 0 0 0 0 0. 21 10. 34 128. 25 108. 96 0. 81 0 0 0 0. 32 11. 31 98. 14 24. 33 0. 89 0 0 15. 43 32. 66 6. 38 49. 18 15. 91 0 0 0 39 0. 14 5. 16 56. 27 74. 27 3. 57 0 0 15. 3 0. 86 0. 03 81. 47 82. 46 5. 9 0 1007. 75 1137. 62 219. 98 21. 32 0 0 123. 32 25. 2 45. 48 12. 8 16. 03 0 0 20. 2 10. 22 11. 52 0. 44 0. 3 0 127 Financial Insights Comparative Balance Sheet (Rs Crore) Share issue expenses not pen off VRS expenses not written off Other misc. expenses not written off Total assets Net worth Authorized capital Issued equity capital Paid-up equity capital Bonus equity capital Buy back amount Buy back shares (nos. reserves & surplus disembarrass reserves item reserves Borrowings Bank borrowings Short stipulation bank borrowings unyielding boundary bank borrowings Govt. / sales tax deferral borrowings Debentures / bonds Fixed deposits Other borrowings Secured borrowings unbarred borrowings Bajaj Hero Honda TVS Motor 0 0 0 0 0 0 0 0 0 0 0 0 0. 44 0 0. 3 0 0 0 16. 03 0 0 20. 2 10. 22 11. 52 0 830. 02 357. 41 25 23. 1 23. 1 0 0 0 334. 31 291. 81 42. 5 233. 95 107. 37 76. 12 31. 25 0 0 4641. 66 5407. 81 6309. 79 1155. 81 2636. 53 2865. 79 3240. 61 150 101. 18 101. 18 114. 17 18. 21 1820730 4 2535. 35 150 101. 19 101. 19 114. 17 0 0 150 101. 19 101. 19 114. 17 0 0 629. 19 50 39. 94 39. 94 23. 96 0 0 589. 25 589. 25 0 66. 48 0 0 0 1753. 9 2188. 68 685. 76 50 39. 94 39. 94 23. 96 0 0 645. 82 645. 2 0 116. 44 0 0 0 861. 03 50 39. 94 39. 94 23. 96 0 0 821. 09 821. 09 0 134. 28 0 0 0 867. 72 1072. 89 323. 39 25 23. 1 23. 1 0 0 0 300. 29 270. 59 29. 7 166. 94 53. 64 34. 89 18. 75 422. 95 25 23. 1 23. 1 0 0 0 399. 85 380. 05 19. 8 121. 89 16. 13 16. 13 0 2764. 6 3139. 42 2515. 39 2744. 64 3121. 21 19. 96 513. 71 55. 97 55. 97 0 19. 96 626. 09 31. 83 31. 83 0 18. 21 840. 23 53. 91 53. 91 0 451. 64 0 6. 1 0 55. 97 457. 74 588. 96 0 5. 3 0 31. 83 594. 26 781. 9 0 4. 42 0 53. 91 786. 32 66. 48 0 0 0 0 66. 48 116. 44 0 0 0 0 116. 44 134. 28 0 0 0 0 134. 28 0 85 0 41. 58 158. 49 75. 46 0 59. 4 0 53. 9 91. 11 75. 83 0 39. 6 0 66. 16 41. 03 80. 86 128Financial Management at Bajaj Auto Comparative Balance Sheet (Rs Crore) Current portion of long term debt Total foreign currency borrowings Deferred tax liabilities Current liabilities & nutrition Current liabilities Sundry creditors Interest accrued / due Other current liabilities Share application funds Provisions Tax provision Dividend provision Dividend tax provision Other supply Total liabilities Bajaj Hero Honda TVS Motor 0 0 0 0 0 0 65. 38 36 11. 48 0 0 0 236. 05 0 240. 47 0 0 0 0 71. 47 77. 16 0 0 0 79. 35 0 88. 72 1491. 42 1679. 88 1988. 48 467. 55 357. 29 0. 11 110. 15 454. 93 411. 13 0. 1 43. 7 454. 9 413. 86 0. 08 40. 96 460. 14 365. 62 254. 61 0 111. 01 880. 3 1116. 21 613. 32 398. 61 0 214. 71 681. 52 409. 94 0 271. 58 238. 66 212. 1 211. 71 0 0. 39 298. 04 289. 05 287 0 2. 05 439. 33 406. 26 405. 65 0 0. 61 0 0 0 0. 02 94. 52 9. 51 59. 9 6. 11 19 0. 02 266. 91 8. 34 239. 64 0 18. 93 0 434. 69 10. 9 359. 44 46. 05 18. 3 0 26. 56 0 18. 48 1. 88 6. 2 830. 02 0 8. 99 0 0 0 8. 99 0 33. 07 0 16. 17 2. 07 14. 83 1023. 87 1224. 95 1533. 58 917. 58 1057. 94 1325. 98 80. 95 8. 26 17. 08 141. 66 0 25. 35 141. 66 18. 15 47. 79 4641. 66 5407. 81 6309. 79 1155. 81 1753. 9 2188. 68 867. 72 1072. 89 Source Prowess Database. 129 Financial Insights Bibliography 1. 2. ?The BT 500,? Business Today, 7th September 1998.Gita Piramal, Sumantra Goshal and Sudeep Budhiraja, ? Transformation of Bajaj Auto Ltd,? Lessons in virtuousness Case Contest, www. thesmartmanager. com, February-March, 2003. M. Anand, ? Is Munjal be Too disinterested Businessworld, 19th May 2003. B19th May Chetan Soni & Nandini Sen Gupta, ? Rolling stock Payouts put auto investors in top gear,? Times News Network, 4th June 2003. Motilal Oswal, Equity Research, February 2003. Honda Annual Report 2003. Bajaj Auto Limited Annual Report 2003. CMIE Prowess Database. CMIE Industry Analysis Service. www. bajajauto. com. www. siamindia. com. www. indiainfoline. com. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 130