Preliminary Organizational Analysis Essay Example | Topics and Well Written Essays - 750 words

Preliminary Organizational Analysis - Essay Example In regard to the production situation, the department’s performance constantly remains under the scrutiny of the strategies department plus the ministry in charge. In the last quarter performance indicator survey, the department had trouble attaining the earlier set goals and objectives plus submitting their reports. The few staff members whined of responsibilities getting distributed unfairly. In fact, some of the workers concurred toiling more than others thereby emanating in unequal work pressure distribution (Jenster & Hussey 32). Some employees in the department possessed inadequate skills plus qualifications to work there. Furthermore, all the staff possessed the same job title, but with no specific job descriptions. Moreover, they too had problems in identifying the individual who possessed the official documents relevant to their department, thereby contributing to disorganization while trying to accomplish certain tasks due to missing documents. Furthermore, coordinat ion and harmonization among the staff became poor over time since some thought were superior to others. In addition, some repudiated orders directed to them by their fellow staff members, and only confounded to those directed to them by their seniors (Jenster & Hussey 54). ... Since the various committees had set goals and objectives, the boss left his deputy in charge of the various initiatives to be commenced. The deputy decided to oversee the initiatives by himself and took the responsibilities of planning, follow up and supervision (Jenster & Hussey 68). Analysis of the situation The strategies department and the Ministry of Internal Security in emphasizing more on timely delivery of performance reports from the various police stations, the department received immense pressure (Jenster & Hussey 46). Accordingly, by the police boss getting involved in various committees meant he had less time to establish a detailed organizational structure for the department plus prepare job descriptions for each staff. Moreover, in having less time, meant that during the end of every quarter when the strategic department came to collect performance reports, denotes he avoided accountability. For him, as long as the administration department achieved its goals and obje ctives as per the performance records, meant there existed no administrative problem. In addition, by the police boss lacking a personal secretary contributed to him having less time for his department due to poor time management, leading to poor communication between the boss and the staff (Jenster & Hussey 83). In relation to the committees, by the deputy police boss taking all responsibilities in the initiatives put forth, contributed to him too becoming busy to care for the staff problems. The employees in not knowing their job descriptions resulted to a lot of confusion in the department, but the police boss could not solve it due to his tight schedule. The staff in having poor coordination and harmonization at work affected

Argument against sexual harassment policies Essay

Argument against sexual harassment policies - Essay Example Therefore, the following discussion aims at highlighting various incidences that advocate for the abolishment of sexual harassment policies. Men and women interact on a daily basis as they attend to their day-to-day activities. These interactions help them to form relations that make the world a better place to live in as they develop close ties. Given that men and women are sexual beings, it follows that they also get attracted to each other sexually. Consequent to these, either party could make sexual advances to the other party. Such sexual advances help in establishing relationships that may go bad, or succeed, hence benefit both parties. All human beings possess the freedom of speech. They have the right to express themselves based on their independent opinion. Learning institutions, for example, serve as places where lecturers pass on valuable information to their students. Therefore, expression of such information in a manner that may result in a sexually intimidating environment should not be seen as illegal. Regarding such an environment as sexually harassing may hinder the development of valuable information, leading to a sterile learning environment. Consequent to these, sexual harassment policies ought to be abolished, thus allow the free flow of information. Offensive behavior ought to be clear to any party involved, as well as the third parties involved in the situation. Such clarity allows the concerned parties to have an informed perception of the behavior in question. However, sexual harassment constitutes a lot of ambiguity. It constitutes of several interpretations, depending on the people concerned (Tinkler, 2008). People at times use their own values and beliefs to determine whether an act qualifies as sexual harassment. The different cultures that people come from also differentiate what people regard as sexual harassment. An environment, for

Economic Downturn Hits Oz clothing Essay Example | Topics and Well Written Essays - 3750 words

Economic Downturn Hits Oz clothing - Essay Example The focus in this paper is on Oz clothing, a manufacturer of clothing in Australia that is facing serious threats to their operation in the business due a variety of internal problems and also due to the policies incorporated by the Australian government. The organization cannot withstand the competition from the foreign competitors in the market and is facing a threat for existence. The Industrial relations and the practice maintained by the organization were poor in nature and are adding up to the resistance in the process of revival. The importance of Industrial relation has been highlighted over here and efforts have been made to identify that how the success of various elements and process in the organization depends on the proper alignment to the Industrial relations. The impact of the policies of Industrial relation on the employees helps to have a clear understanding on the motivation of the employees. The employees and the laborers of the organization are a prime part and co ntribute a lot to the organizational success. The organizations should provide proper care and maintain their responsibility towards them by framing policies in line with the industrial relations. The overall problems of OZ clothing can be segregated into two factors, internal and external. The internal factors denote the set of issues which are present within the organization and prevent the organization to reach its desired goals, and the external influences are the factors outside the organization which prevents the cause of the organization. ... The primary reason for the failure of the organization can be contributed to lower productivity which has occurred due to the adoption of obsolete technologies used by the firm. As a result of the use of the obsolete technology an overall increase in the price of the products per unit is also increasing. The company is facing serious issues with the process of manufacturing. The increase in cost of the manufacturing is also associated with the high amount of labor costs. The process of effective utilization of labor is absent in the company and thus labor has emerged to be a factor of high cost for the company. The skills of the labors in the production department are also under question. The organization also faces serious issues with the line of products they deliver to the customers. The organization generally deals with underwear as their commodity product. Customers believe that their products are not original and are also not fashionable. In view of the perceptions from the cus tomers; the retailers are canceling the orders of the products. The products are also highly priced than the competitors and it is also acting as a major cause for being unpopular in the market. The product designing team of the organization has not brought any innovation in the design or the quality of the products and has failed to satisfy the needs of the customers. The absence of fashionable products in their product line has also been a major cause for the customers easily falling to the low priced products outsourced from China. The organization also has low source of capital and this further prevents them to opt for the new technologies or look after

Organizational Managment Essay Example | Topics and Well Written Essays - 250 words - 1

Organizational Managment - Essay Example In this regard, it has been observed that the organizational change usually brings a change in the quality, cost and satisfaction of the product or service that the organization manufactures or produces, respectively. For instance, Reid et al. (2010) undertook a detailed study of the health care organizations to evaluate the change in the quality, cost and satisfaction in the organization after the incorporation of patient-centric medical home model. The model required that the healthcare policies and regulations should be re-written with the focus on patient care, requirements, needs and wants instead of management’s point of view. As a result, the study showed that after the implementation of the model, the patient’s burnout cases, their experiences at the hospital and the costs of the facility have improved substantially within the lapse of twenty four months since the incorporation. This shows that there is a positive relationship of the cost, quality and satisfacti on of organization and its customers with the organizational change. Reid, R.J., et. al. (2010). The group health medical home at year two: cost savings, higher patient satisfaction, and less burnout for providers. Health Affairs, 29 (5): pp. 835-843. Retrieved 29 July 2012 from

Economic Downturn Hits Oz clothing Essay Example | Topics and Well Written Essays - 3750 words

Economic Downturn Hits Oz clothing - Essay Example The focus in this paper is on Oz clothing, a manufacturer of clothing in Australia that is facing serious threats to their operation in the business due a variety of internal problems and also due to the policies incorporated by the Australian government. The organization cannot withstand the competition from the foreign competitors in the market and is facing a threat for existence. The Industrial relations and the practice maintained by the organization were poor in nature and are adding up to the resistance in the process of revival. The importance of Industrial relation has been highlighted over here and efforts have been made to identify that how the success of various elements and process in the organization depends on the proper alignment to the Industrial relations. The impact of the policies of Industrial relation on the employees helps to have a clear understanding on the motivation of the employees. The employees and the laborers of the organization are a prime part and co ntribute a lot to the organizational success. The organizations should provide proper care and maintain their responsibility towards them by framing policies in line with the industrial relations. The overall problems of OZ clothing can be segregated into two factors, internal and external. The internal factors denote the set of issues which are present within the organization and prevent the organization to reach its desired goals, and the external influences are the factors outside the organization which prevents the cause of the organization. ... The primary reason for the failure of the organization can be contributed to lower productivity which has occurred due to the adoption of obsolete technologies used by the firm. As a result of the use of the obsolete technology an overall increase in the price of the products per unit is also increasing. The company is facing serious issues with the process of manufacturing. The increase in cost of the manufacturing is also associated with the high amount of labor costs. The process of effective utilization of labor is absent in the company and thus labor has emerged to be a factor of high cost for the company. The skills of the labors in the production department are also under question. The organization also faces serious issues with the line of products they deliver to the customers. The organization generally deals with underwear as their commodity product. Customers believe that their products are not original and are also not fashionable. In view of the perceptions from the cus tomers; the retailers are canceling the orders of the products. The products are also highly priced than the competitors and it is also acting as a major cause for being unpopular in the market. The product designing team of the organization has not brought any innovation in the design or the quality of the products and has failed to satisfy the needs of the customers. The absence of fashionable products in their product line has also been a major cause for the customers easily falling to the low priced products outsourced from China. The organization also has low source of capital and this further prevents them to opt for the new technologies or look after

Separate Peace Essay Example for Free

Separate Peace Essay Gene has a huge ego. His life revolves around competition. Everyday life is transformed to a constant war with everyone around him. He sees everyone he encounters as his rivals and enemies. He says about sports, â€Å"It was as though football players were really bent on crushing the life out of each other†¦Ã¢â‚¬ ¦as though even a tennis ball might turn into a bullet†. (Knowles pp. 84) Gene sees matters of life and death in harmless games of sports. Gene is never comfortable with his own identity. He is envious of those who are better than him and treat them as enemies. He grows extremely jealous of Finny for his athletic talents and ability to flout the rules. He cannot bear to feel inferior to anyone, even his friend; they are all his enemies. He is determined to be better than Finny in academics, in order to not feel inferior to Finny. Being the best in academics would equate Gene with Finny, who was best in athletics. Gene imagines that Finny is no less selfish than him and that they both hated each other in their rivalry. He imagines Finny is only pretending to be his friend to sabotage him. Gene interprets all of Finny’s actions as made in rivalry to him. Finny actually thinks of him as his best friend and never saw him as an enemy. Gene’s later discovery that Finny genuinely wants him to do well destroys the balance of his world, in which they both are enemies competing against each other. So Finny is better not only athletically but as a good person. Always feeling inferior, Gene is jealous and envious to the point that a codependent relationship is made possible. Lacking an identity and enviously seeing only Finny’s superior morals and talents, he would give anything to not feel inferior to Finny. Gene is in a position hat he desires Finny’s identity so much that he would enter into a codependent relationship with Finny to obtain his identity. Gene wants the qualities of Finny that he lacks. At the same time, Finny struggles with insecurity after his fall. Having shattered his leg, he cannot help but feel insecure about himself. His identity is shattered by the reality that he can no longer continue being the s tar athlete he was and achieve his dream of being a soldier. Being unable to carry out his dreams in his own physical body, he is forced to carry them out through the medium of Gene as an extension of himself. Throwing himself into a codependent relationship is Finny’s way of ridding himself of his insecurity and living a normal life through Gene. It would be as if the accident had never occurred. Finny needing to live his former life through someone and Gene’s desire to take on Finny’s identity makes way for a codependent relationship to form. Codependency becomes an obstacle to the creation of a separate identity. Finny’s fall provides the perfect time for the codependency to start. Both sides have something they want and can give in return. Gene wants Finny’s identity for the qualities that he admires in Finny but lacks himself. Finny wants to be able to live his life as an athlete through someone who acts as extension of Finny. Gene and Finny can satisfy each other’s desires. Since both people are receiving what they want in a codependent relationship they are content and happy with their life. There is no need to look inwards and examine oneself or improve oneself. After putting on Finny’s pink shirt, Gene says, â€Å"When I looked in the mirror it was no remote aristocrat I had become, no character out of daydreams. I was Phineas, Phineas to the life. I had no idea why this gave me such intense relief, but it seemed, standing there in Finny’s triumphant shirt, that I would never stumble through the confusion of my own character again. † (pp. 62). Gene feels happy that he has completely taken on Finny’s superior identity and escaped from who he is with all his issues. A false feeling of completeness and contentment prevent Gene from forming his own identity. Only after codependency is broken, can an individual identity emerge. Gene and Finny’s codependency is ended after Finny’s sudden death. Gene starts to re-examine himself, his thoughts and his emotions. Finally Gene puts things into perspective (Slethaug). Gene’s life from the start of his friendship with Finny has revolved around Finny. Everything he did, felt, thought about regarded Finny. His goal of becoming best in the class, and his envy were the result of Finny. Finny was the column, the foundation that supported and shaped his life. The foundation crumbles away with Finny’s death and Gene’s life comes crashing down. He can no longer depend on Finny to dictate his emotions, his thoughts and to serve as an idol he must surpass. With Finny gone, Gene now sees the foolishness and illusion he had been living in and the reality of life. He realizes that many of the enemies he had seen were the product of his own fear. He knows that Finny was a genuine and true friend who meant the best for him. Gene realizes that fear of everything had led to his seeing enemies in friends and that it was harmful. He sees that his fear had led him to feel threatened by a fearless Finny and his jealousy. His fear had made him feel that everyone was out to get him. Most importantly this fear had led him to seriously cripple Phineas and in the end led to Finny’s death. His guilt at having had a direct role in Finny’s death leads to him seeing the illogicality of fearing the world, the unknown, the imaginary enemy. He has escaped from his fear of the world, and matured into an adult in the process. Only now when he no longer fears anything or anyone, can Gene focus on himself and forge an identity. Only now when he does not see in everyone some quality that he lacks can he truly sees his own strengths and vulnerabilities and take them lightly. Gene can focus on forging his own identity when he other people’s identities no longer interest him. Phineas teaches Gene that in this world there is more than just evil, and war but also peace and good. Everyone is capable of good and evil. When Gene discovers that he like Finny is capable of good, he can overcome his guilt about his sin and find lasting peace within himself. Gene realizes that his hatred and jealousy is â€Å"something ignorant in the human heart† and is within him and also brings about wars. Only by reconciling himself with the fact of the existence of this evil within him can Gene realize that his own true enemy is not someone like Finny but in fact himself. He knows now that he had been seeing himself in everyone else. By coming to know his evil, he can come to know himself and his own identity. Gene by coming to know this evil within him can understand now the ideas of peace and love and the true value of friendship. Gene says of his time at Devon, â€Å"my war ended before I ever put on a uniform; I was on active duty all my time at school; I killed my enemy there. † (pp. 204) Gene has killed the hate, the evil, the fear within his heart that often causes wars. By killing the fear within him, he has defeated his own private demons. Gene has come to see that this enemy never comes from without, but always from within. He knows, moreover, that there is no defense to be built, only an acceptance and purification of oneself through love. (Ellis) Gene has matured and discovered his own identity after his codependent relationship is forcibly severed. In A Separate Peace, the author first shows how the codependency between Gene and Finny is formed. Later the author shows how Gene finally finds his own identity after the codependency is broken. Works Cited Knowles, John. A Separate Peace.

People Usually Save Some Money

People Usually Save Some Money Chapter 1: Problem and Its Background INTRODUCTION: Savings has always been an important issue for the people to consider. People usually save some money from their income after incurring necessary expenses for the future needs. The cause of saving was not under attention in the developing countries previously, so measures to ask people to save money were very difficult to be taken. But now as time is passing by, youngsters are more into saving money and realize it to be an essential part for transforming their lives more luxurious ahead. Our elders use to tell our youngsters about the importance of money savings and thats the reason some youngsters also prefer saving for their future needs and for other entertainment purpose. But if we ask our elders and parents regarding the youngster saving habits, we generally come to know that they dont pay attention towards savings. And to some extend it is correct. Some of the questions arise here are: Why dont they prefer saving? Do they know the importance of saving? Do we have the right perc eption regarding our youngsters saving habit? In this research we will be finding out our youngsters saving habits, its reasons and its effects. Nowadays the youth is more aware about saving money where social media plays a vital role. Apart from this, due to the recession, parents as well encourage their children to save more and more as expenses are being incurred. Moreover, due to increasing opportunities, youngsters try to save and are well aware as to where they have to spend and where they have to stop themselves. Plus when youngsters move towards savings and are motivated towards it, so they try to adopt different ways to invest their money and for this they usually prefer to open up their bank account which also assists them to create long term relationship with the banks and become their loyal clients. This is the time when it has become our essential responsibility to know the perception of youngsters regarding money saving and what they really think about it and what makes them to save money or spend it. Here I would like to describe the meaning of perception through the definition. According to the business dictionary website, Perception has been defined as The process by which people translate sensory impressions into a coherent and unified view of the world around them. Though necessarily based on the incomplete and unverified information, perception is equated with reality for most practical purposes and guides human behavior in general.1 (Business Dictionary) Perception usually differs from person to person and also affects the behavior of a person. It could be in the favor as well as against the situation. Moreover, perception is defined as the process of interpretation and giving meaning to that interpretation by organizing it.2 (Lindsay and Norman, 1977) From an article regarding the saving practices a person said when he was of the age 18, his parents used to advise him to save money for future from his pocket money3 .They used to bring ceramic pots for saving the cash in it. But now more and more other alternatives have been developed for saving money like UBL Young Savers Account, Bank Al Habib Young Savers Account, and Bank of Punjab Young Lions Account etc. Moreover it not only for the adults, but youngsters even childe of the age two can be benefited with the services of the bank to open up an account for savings. Now a days, progressively more banks are focusing and becoming a centre of attraction in order to enlighten people to save money especially youngsters are being targeted in this regard. Different campaigns are being made for attracting the youth for awareness. Banks like ABL and HBL are among the banks that are motivating the young generation to save money. STATEMENT OF THE PROBLEM: The statement of the problem is to know as to what the perception of youngsters is towards savings. What they really think about it whether beneficial or not. Due to the increasing expenses can they easily save money for themselves? The objective of my of my research is to know their money saving perception. The second objective is to know the challenges faced by them in order to save money. The third objective is to know whether they feel good and comfortable to get opportunities in saving money in the current crucial time of economic shifts. The problems on which I have worked upon are listed below: To know the opinions and the insights of youngsters towards savings as to what is their perception regarding it? What are the reasons they come across that dont let them to save money? Does saving leads them to become materialistic or gaining power is their desire? Can their savings provide support to the economy? SIGNIFICANCE OF THE STUDY: This research would really be helpful for the people who are working for the youth of Pakistan especially. Moreover, the Banks and other financial institutions can get advantage through it because these entities are now focusing youth and inviting the youth to save more and more for their future, for the country and for the humanity as a whole. Moreover, the saving schemes can also get advantage through this to know the behavior of the youth towards these campaigns. Since this research covers the perception of youngsters, related to their saving practices, so they will get to know their opinions, their requirements, their point of views and their insights towards saving. SCOPE: The scope of this research is prospecting. It will help us to know the beliefs of youngsters aging from 18 to 26 years. This is the age limit for the respondent that was positioned. Many banks are now working to improve and make better educational programs for the youngsters which will affect them when they would become young adults. The reason for these programs is to create awareness among the people and to help them in establishing themselves. LIMITATIONS: While working for this research, I got to know that most of the respondents have made up their minds to go abroad and work their instead of being a part of their country and strive for it. Some of them are more inclined to depart from here and grab the opportunities to settle abroad due to having more chances to make them able and prove themselves competent. Many of them have got negative views for saving money. In order to have the correct balance of the sample, I came about some problems in finding the actual respondent level. The time period was limited and the survey size was small which would have affected the results. Some of the respondents were uncomfortable to share their information in their information in the questionnaire which also affected the results. The results of youngsters saving perception are not totally representative. Since it contains the replies of limited people so the results are dependent on it. DELIMITATIONS: Some of the delimitations of the study are s follows: The perception of the youngsters with regard to saving may change in future Due to access of new technology and other attractions for the youth they are likely spend money even if they plan to save it. DEFINITIONS: Perception: Youngsters: It includes youngsters aging form 18 to who have enough knowledge of how to save money. CHAPTER # 2 Chapter 2: Research Method and Procedures Introduction of the chapter: Chapter two of the study starts with the research design that describes the central part of the thesis. This chapter then includes research methods which explain the nature of the study conducted, after this it includes the respondents of the study which are the people who responds to the queries asked. After this comes the research instruments which are the tools needed to conduct the research. Then the sources of data which are the means through which we can get appropriate data for the study and to get actual results. Research design: The research design shows the type of research conducted. The type of research carried out here is causal in nature. In the causal research the relationship is proves with respect to the relationship with the variables. The reason to use this kind of research is to know the perception, behavior and insights of the youngsters towards money saving. For this certain interviews and surveys were prepared. Research methods: The study was carried out through both the primary and secondary data collection methods. The study conducted was causal research. From the primary data collection method, quantitative and qualitative study was conducted to present in the numeric form on the basis of opinions and survey conducted through the questionnaire from the respondents. As far as secondary method is concerned, internet and other publications were used to complete the study. Respondents of the study: The primary respondents of the study were the young adults who filled the questionnaire to let us know their opinions and perceptions and apart from this, the interviews conducted from bank managers also come under our primary respondents. Moreover, I did conduct one in-depth interview. It was conducted in such a manner that the six people were in the group having the age bracket between the ages 18 to 26. They discussed their issues and perceptions in detail. Sample: Random sampling was done among the young adults under the age bracket of 18 to 26 years of age. The respondents could be from high school, college, university or any other level. The main reason to select this age is to know their money saving perception and to know what their opinion is regarding different factors that motivate them to save money. A total of 105 respondents were taken on to account for the survey. The sample size was 105. Research instruments: The research instruments are basically the tools needed to conduct the study which eventually helps the researcher to get the prior and appropriate data according to his or her preferences. The tool used in this study is the usage of a questionnaire which was filled up by the respondent who was maximum the age limit required. Sources of data: In order to complete the study the data requirement was one of the main constraints. So for the completion I had to conduct survey from the youngsters aging 18 to 26. Moreover, different articles, books and internet links were the sources of data. Apart from this interviews from different individuals were carried out. Treatment of data: The data collection was analyzed through the statistical tool of SPSS. Along with this bar charts and graphs are used to clearly discover the differences. CHAPTER # 3 Chapter Three: Review of Related Literature and Review INTRODUCTION OF THE CHAPTER: In this chapter, review of all the related writings is considered. Here these writings are summarized and explained. In this chapter, local and foreign literature is included. In the local literature, reviews of the writers are written along with the sources from where they have been extracted which belongs to the local writers. In the foreign literature, reviews are added of the foreign writers. RELATED LITERATURE: It contains the reviews and other theories that supports the topic and tell about the pros and cons of the study through the research conducted by the researchers previously. FOREIGN LITERATURE: Money, money, money how do attitudes toward money impact vanity and materialism? the case of young Chinese consumers 4 A study was conducted in China among the young and the main reason to conduct the research was to know their perception regarding the money and what are the main factors that led them to save money. It is very important now to know the perception of the youth because it helps he strategists and other marketers to shape strategies for them to help them get the best out of life and provide opportunities to them by providing a platform. Through this research paper the author wanted to know the increased materialism among the youth of China. The factors outlined in the research paper were power and prestige, anxiety and distrust. These are some of the motivational factors that motivate the youth to save money. It stimulates them and encourages them to think about money saving. The power and prestige factor explains that the youth save money and would like to have it because it provides them a sense of authority and they feel reputed and classy. The other factor is the anxiety factor that relates that people who dont have enough to spend money but even then they go for purchases in order to reduce their worries. They do shopping and spend their money which provides them a feeling of relief and leisure. The distrust factor explains that they are cautious when are asked to spend money for different purchases. They think several times to spend their wealth. As time is passing by the possession to keep the money among Chinese youth is increasing rapidly. They usually see the high class status people and learn from them that they should also acquire money because through having money and saving it, they would be regarded as powerful and role models for others. Apart form this recent studies show that a new subculture is emerging in China by the name of Bobo which indicates that people save money and acquire it only to become an icon which reflects their personality and where they can attain the luxuries of life easily. The Chinese youth is becoming more and more materialistic in the sense that due to modern era and coming up of new attractions in the society motivate the youth to have money and then acquire things they want. They think that if they will have enough money to spend then they would be able to purchase things of their interests. Moreover in the past, the perception was not have money for spending it on the luxuries of life but now the trend ha changed and they feel good when they spend their money on the means that make them feel happier. Apart from this other attractions to get money and save it is though the credit cards and loans provided. Different promotional campaigns can help the youth to be taught the importance of saving and having money which can assist them to take active and strong decisions as to where and how to spend their money and how they can save it for different situations.4 4Srinivas Durvasula, Steven Lysonski, (2010),Money, money, money how do attitudes toward money impact vanity and materialism? the case of young Chinese consumers, Journal of Consumer Marketing, Vol. 27 Iss: 2 pp. 169 179 According to Berti Bombi, Human Development theory states that: Children start saving money when they grow and progress. When they get the awareness and identify the advantages provided by saving money they gradually begin to save more and more. Moreover, during their growth stage, they come across biological, psychological and cognitive stages that let them learn to save, which helps them to get the clear concept of saving money5 (Berti Bombi, 1988 ; Strauss, 1952) http://csd.wustl.edu/Publications/Documents/WP12-23.pdf 5 Saving for the Future- Trends, Patterns and Decision-Making Processes among Young Americans6 The personal savings rate has been dilapidated very rapidly in the U.S. Due to the recessionary period, the situation is becoming worse day by day. People there are in debts and it has become very difficult for them to pay off. Because of this, now extreme attention is being given to the young generation of US. They are being encouraged to save money and accumulate it for their bright future. One of the main costs is for the expenses incurred by the college tuitions. The financial highlights previews that it has now become very difficult for the people to cope up with financial catastrophe around. Some years back, people used to save money mainly to fulfill their necessities, but now the trend is changing. Apart from this much other responsibilities have emerged that include the repayment of credit card bills, tuition fees etc. But people cant help themselves to swallow this bitter truth that whatsoever be the result, they have to undergo through such period where there is so much of difficulty and complications. Keeping in mind the existent trend, the young generation should be aware of the consequences and should get a lesson from it. They should be taught to save money for their present and ultimately future for a better and enhanced outlook of life. In this piece of the literature, it points out to the three main objectives for conducting the research. Firstly the form of the savings done by the young adults, secondly how do they do it, and thirdly, what policies could be implemented for the young adults to help them understand the financial knowledge and encourage them to save more money. According to some of the findings, it was seen that young adults are more into debt than the income they get. The reason for this is the attractions that let them to spend money. They focus on their wants additionally rather than controlling themselves to spend money. They have little control over things to spend money on. It was also found that the young adults had to go through the decision making process where they have experience the five phases of decision making. As time passes by, the need of these young adults arises which inquires for more accounts to buildup their portfolio. The vigor to have more money and accounts for it remains same, but as time surpasses the characteristics or the performance progresses. According to this literature it states that, many of the facts are available from those young adults who have already saved money, but there is no or less data available of young adults that show the challenges they face when thy have to do the money savings. In order to educate the young adults proper training should be provided to them and it is very important at this point in time. It would require uphill effort to instruct them. The larger entity and other financial bodies should pay attention to it to provide counseling to the young adult and to encourage them to save money for their better future. 6Sarah Outcault, (June 2012); Saving for the Future- Trends, Patterns and Decision-Making Processes among Young Americans, Pardee RAND Graduate School Testing an Asset-Building Approach for Young People-Early Access to Savings Predicts Later Savings7 The literature includes three parts. Firstly it includes the young peoples saving behavior towards the asset management practice. Young people are less knowledgeable regarding the strategies promoted for enhancing the asset management. Second part of the literature talk about the behavior of young people savings with regard to the models and concepts presented by the authors earlier. Mainly the neo classical theory, economic socialization theory and institutional models are quoted. Third part of the literature proves whether the money saving practices adopted by the parents in the adolescent brings out better results or when the money saving programs are in touched later in life or when time in need. For the most part the low income households behavior was analyzed. Economic socialization theory talks about that if parents teach their children the money saving pattern, then eventually by their warmth and attention the children would be benefited in the later stages of life. They will have more information, more benefit and more opportunities. If parental attention towards letting child save money by giving them allowances and becoming a role model or an example for them, then they will also adopt the behavior parents commit which will eventually help them shaping their lives. It is stated that if young adults are taught to save money from their younger ages, it would not only improve their habit of saving but they will also be aware of the financial information and other concepts and programs that can help them save money for their future. Institutional model relates that if young people are made conscious of the external facilities at the earlier stages of life like money saving programs, services and products then they will also become good de cision makers of their future. From the literature it was sorted out that young adults, who are emotionally involved with their parents with regard to adoption of money saving behavior, are more experienced and know the inns and outs of it. Apart from this asset management techniques are also well learnt by those young adults whose parents are involved in it and explain to their children about it. Young adults having saving accounts can accumulate more wealth when they have appropriate knowledge about it and other products and programs if transferred to them accordingly can bring a positive impact for them. 7Terri Friedline, William Elliott, Gina Chowa, (2012), Testing an Asset-Building Approach for Young People-Early Access to Savings Predicts Later Savings, George Warren Brown School of Social Work, Washington University in St. Louis, CSD Working Papers No. 12-12 Contributions of Qualitative Research to Understanding Saving Theory for Children and Youth 8 U.S and world is paying more attention towards Asset-Based programs. The main purpose of these programs is to encourage financial security and to offer positive effects throughout the life of person. But very little or no attention was paid towards childrens saving and the effects of saving for youth and children in this regard. There are many reasons of the importance of asset accumulation for children. Some of the reasons include the saving in childhood is of longer period of time which can be invested as well as can provide greater financial return even if the amount is smaller and these returns are likely to help the children in their education as the cost of tertiary education have increased and shifted to parents and students. Second, the process of asset accumulation in early childhood helps in child development. Third, these practices not only help the children to understand complex financial knowledge and skills but also shape their money management skills. Above all it provides the security for their future needs especially educational needs. There are several theories that provide insights on process and effects of money savings on children. These theories include human development, structural approach, socialization, behavioral economics, and institutional theory. According to the development theory young children are capable of understanding and know that saving is beneficial for them. Childrens cognitive abilities, increases during transitory period from childhood to adulthood but socialization increases form exposure and encouragement to gain knowledge about the financial world. Moreover behavioral economist suggests that vigilant design of financial services and products can increase the chances of making good financial choices regardless of individual characteristics. This paper sheds the light on how children saving are being affected by these theories and examines the evidence to understand the effect and relationship between childrens age and economic socialization. This articles aim was to contribute to saving theory for youth and children by using qualitative studies of three different Child Development Accounts. These accounts provide the opportunity to accumulate savings for the benefit of child. These accounts include, I Can Save a college saving program in school for elementary age children, Opportunity Passport program which provides incentivized saving account, and SEED for Oklahoma Kids, a randomize experiment of incentivized saving plan for children at birth. 1st study explored that most of the children who participated in ICS program belong to the families whose average educational level was 11th grade and reported family income were below $25000 despite the fact that the school where the research took place was racially and economically diverse. 2nd program study (Opportunity Passport) was developed by Jim Casey Youth Opportunities (JCYO) a part of JCYO Initiatives 2009 program for whole country. The participants of this study had received training in financial literacy and upon completion of training, they were provided with an Individual Development Account and a Checking Account. The participants were aged14-24 years and vary from site by site among all four sites. The 3rd study was the large-scale study of universal Child Development Account with randomly selected babies born in Oklahoma in 2007 an experiment known as The Seed for Oklahoma Kid (SEED OK). This study also reveals that most of the families who save more were having a reported income of less than $30,000 and were African Americans. All these three studies had common theme and differences and paying particular attention we could learn about savings of different age of people. Moreover these studies can also provide the insights of how people of different age group think about saving. The ability of participants was affected by circumstances and individual characteristics as described in three studies. Their savings abilities were also affected by some institutional factors. Individual level factors reveal that ICS participants had very low understanding of financial matters because of their elementary age but they were excited about learning it whereas in OP most of the participants had better understanding of money as compare to younger children. Despite having limited income they were engage in much higher level of saving participation for their future needs. On the contrary, looking back to their childhood, younger children in OP and mothers in SEED OK had not learn about how to save during their transitional age towards adulthood. And because of that in OP young children had receive no or little guidance in money management and savings from their families. Although the participants and their families learnt about saving and money management during those studies but they also identified some obstacle to saving. These obstacles include low income, high expenses, and low support in all three studies. Moreover they also identified some institutional factors as bad experience with financial institutions which also hindered them to save. These studies found that the participant appreciated the incentives given to them for savings and had influenced them to save more and pay attention towards money management. Moreover the restricted access to their accounts forced them to save although they didnt like it. That means incentives can take youth and their families towards saving. Effects Of Saving The participants of all three studies discussed their perceived effect of savings on their lives. In all three studies participants positively accepted savings but it can be tempered according to their need and desire. Some of the effects they discussed include enhanced understanding of saving services and product and its use, Savings provides positive vision of future and sense of security, improved financial skills and knowledge as they received training of financial skills and money management during Opportunity Passport program. Moreover participant provided improved understanding between future education and savings. They used their IDA accounts to pay their educational expenses or to purchase attainable assets (e.g. Laptops etc.) These studies show that some program features have greater impact on savings depending on development stage and age group. Foster youth perceived it more positively than other groups as they face greater challenges as, higher poverty, more prior negative banking experience tenuous relationship with family. They appreciate the financial boost provided by OP program. But at the same time they required more guidance about saving and money management and the restrictions helped them to understand development task and importance of accumulation some saving. Study showed that they need more ways to generate money to deposit in to CDAs. The U.S. internationally has never been quicker in moving towards electronic and cell-phone based financial services. Moving towards it and making innovation in it may encourage youth and children to save more. Moreover, children and youth should pay more attention in accordance with their development stage. Saving campaign and information can be designed in a way that appeals particular age groups. As OP youth and mother of toddlers in SEED OK articulated frustration and difficulties in meeting immediate expenses programs shall be made to overcome these obstacles. 8Margaret Sherraden , Clark Peters, Kristen Wagner , Margaret Clancy , Baorong Guo (2012)- Contributions of Qualitative Research to Understanding Saving Theory for Children and Youth , University of Kansas School of Social Welfare and the Center for Social Development at the George Warren Brown School of Social Work, Washington University in St. Louis, CSD Working Papers No. 12-23 Areas further studies: The areas of further studies are to know that whether youngsters will be motivated if they would be provided with some educational campaigns regarding it. Will they save money for there futures keeping in mind the crucial economic downturns? They should help the country as well by saving money and investing it in areas where the country get benefit as well the person himself. Variables: Independent: Income level, economic shift, prom campaigns Dependent variable: Purchasing power, word of mouth, HYPO: Youngsters who save money learn more patience Youngsters who save money for their education Youngsters get the motivation to save the money from their parents Among youngsters reasons for saving less money are increased expenses Youngsters feel that in the current economic situation they can get more opportunities to save money youngsters who think saving money is beneficial REC: INSTAED OF BRANSHCES, MAKE A SECTIONFOR TAREGTING THE YOUNSGTERS AND PROMOTE THEM TO CREATE AEARENESà ¢Ã¢â€š ¬Ã‚ ¦ THEY SHOULD GO TO C=SCHOOLS, UNI CONDUT ROAD SHOWS. TEACH THEM HOW TO SAVE FROM EARLY SATGESà ¢Ã¢â€š ¬Ã‚ ¦ TEACH THEM HOW TO COPE WITH THE RECESSIONARY PERIOD. AND HOW TO MAKE BUGET AND MAKE FINANCIAL.THIS WILL HELP THEM TO BE INDEPENEN. THORUGH THIS THEIR COMMUNICATIIN SKILLLS WOULD ALSO INCREASE. THERE IS S MUCH POENTIAL AMONG YUNGSTERS, BUT SINCE NO PROPER PLAFORM IS BEING PROVIDE TO THEM SO THEY ARE EFT BEHIND. IT S ENGROSSED WITH THE TALENT. THEY SSHOULD BE MOTIVATED AND ENCOURAGED.