Tuesday, December 31, 2019

Sources of finance for Industry in Italy - Free Essay Example

Sample details Pages: 10 Words: 2914 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The Industries in Italy are very much developed and modernized. These are also one of the main sources for the GDP of Italy. Also they provide the highest employment opportunities. The main sources of finance for the industry are the subsidized loans, medium term loans. These loans are provided by the govt. as well as the different banks at variable and fixed rates. Evolution of Banking in Italy The first  banks  were probably the religious  temples  of the ancient world, and were probably established in the third millennium B.C. Banks probably predated the invention of money. Deposits initially consisted of grain and later other goods including cattle, agricultural implements, and eventually precious metals such as  gold, in the form of easy-to-carry compressed plates. Ancient Rome  perfected the administrative aspect of banking and saw greater regulation of financial institutions and financial practices. Charging interest on loans and paying interest on deposits became more highly developed and competitive. The development of Roman banks was limited, however, by the Roman preference for cash transactions. During the reign of the Roman emperor Gallienus (260-268 AD), there was a temporary breakdown of the Roman banking system after the banks rejected the flakes of copper produced by his mints. After the fall of Rome, banking wa s abandoned in Western Europe and did not revive until the time of the crusades. Banking in the modern sense of the word can be traced to medieval and early Renaissance Italy, to the rich cities in the north like  Florence, Venice  and Genoa. The  Bardi  and  Peruzzi  families dominated banking in 14th century Florence, establishing branches in many other parts of Europe. Perhaps the most famous Italian bank was the  Medici  Bank, set up by  Giovanni Medici  in 1397. Don’t waste time! Our writers will create an original "Sources of finance for Industry in Italy" essay for you Create order For the history of the Bank of Italy we can conclude the following points: The Bank of Italy was constituted in 1893. Was given the authority of note issue. In 1926 the essentially public position of the bank was accorded significant recognition, as it becomes the only/sole institution authorized to issue bank notes. The Bank of Italy was given powers of banking supervision that would be broadened and strengthened by the 1936 Banking Law, which also formally recognized the Banks status as a public law institution. The 1936 Banking Law was remained the legislation of the Bank. A difficult time in the Italian banking history was the stabilization of the lira in 1947. The postwar surge of inflation was broken and the monetary conditions for the economic miracle of the 1950s were established. The Constitution of 1948 came with the principle of the protection of savings.1970s to the international monetary system and the lira, Italian the independency of the Central Bank was polished. The re-establishment of the stability of the currency and the start made on the adjustment of the public finances enabled Italy to comply with the standards set by the Treaty of Maastricht (1992) and qualify for the lead group of countries adopting the euro as their currency in 1999. Euro banknotes and coins went into circulation in 2002. Categories Activities of Banks in Italy The Banking sector in Italy is undergoing a period of reform. Italy has localized the banking system traditionally. The small popular banks occupy 40% of the total banking market in Italy. The government is now encouraging small banks to amalgamate and create larger and more modern banking institutions. An example of this step is the amalgamation of two banks Banca Intesa and Sanpaolo and became the Europes largest 4th bank in August, 2006. The different types of banks which are working in Italy are as under: Ordinary Commercial/Credit Banks Co-Operative Banks Co-Operative credit Banks Ordinary Commercial Banks: These are the typical commercial banks. These banks work by receiving deposits and advancing loans and the difference in the interest rates makes the profit of the bank. CO-Operative Banks: The Co-operative banks are established to provide loans on lower interests to their customers. These banks specially provide loans for house building or home loans. These banks are provincial based. Co-operative banks are also supervised by the Bank of Italy. Co-Operative Credit Banks: The co-operative credit banks are owned and funded by the farmers themselves. These are the saving banks formed by the farmers in rural areas. The size of the deposits is very less as the farmers are not so rich but in terms of banks, these banks are the largest reaching to 500 banks in Italy. But as the deposits are tiny and small their share in the total deposits is very minor. Banca dItalia: This is the 4th type of bank found in Italy. It is the Central Bank of the Country having the authority of note issue. It is owned by the Public sector banks. Post Offices Banks: Post office banks are the saving banks for the residents (nationals) and foreign residents. Although, Non-residents arent permitted to open post office account. Other Activities: The Italian banks are now competing by engaging in new activities other than the above activities. Following are some new activities taken out by the banks: Merchant Banking Leasing Factoring Management and Investments Portfolios Payment Services and Information Technology Banks Operating in Italy There are a large number of banks operating in Italy. Most of these banks are small scale based (co-operative credit banks) but the amount of deposits is less as low income farmers are the owners and the customers of theses banks. Below mentioned are the top 10 banks of Italy which are arranged according to their investment or Market Capitalization: Unicredit Capitalia (81.39 billion euros) Intesa Sanpaolo (69.2 billion euros) Mediobanca (12.38 billion euros) Ubi Banca (11.5 billion euros) Banco Popolare (11.34 billion euros) B Monte Paschi Siena (11.32 billion euros) B Carifirenze (5.3 billion euros) Banca Pop Milano (4.3 billion euros) Banca Carige (3.9 billion euros) Crdito Emiliano (2.8 billion euros) The total asset value of the entire Italian Banking Market is approx. ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 2,560 billlion. This maeks Italy the largest 4th market in Europe. If we talk about the overall assets contribution of Italy in Europe it is 8%. An estimated 43% expansion in the total asset value of Italian banking was found. Analysis of the Assets of Top 5 Banks in Italy Here we have analyzed the assets of top five banks of Italy in Comparison to their total assets. Unicredit Captalia: Total Assets ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 136 billion Banking System Assets ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 2,560 billion Share in Percentage 5.3125% Intesa Saonpaolo: Total Assets ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬256,647,858 Total Banking Assets ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 2,560 billion Share in Percentage 1.0025% Banco popolare: Total Assets ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 137,705,537(according to 2007) Total banking Assets ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 2,560 billion Share in Percentage 0.5379% Ubi Banca: Total Assets ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 122 billion Total banking Assets ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 2,560 billion Share in Percentage 4.7656% MedioBanca: Total Assets Total Banking Assets ÃÆ' ¢Ãƒ ¢Ã¢â€š ¬Ã… ¡Ãƒâ€šÃ‚ ¬ 2,560 billion Share in Percentage Activities performed by the Different banks in Italy ABI Associazione Bancaria Italiana: ABI (Italian banks association) promotes an ordered stable and efficient growth of the financial and banking system, agreeing to both national and European competitive normative law. Banca Credito Italiano Unicredit Group: Unicredito italiano stands out for its multibusiness structure: a network of financial advisors, in-store branches, telephone banking and on-line trading offered by the various group banks. Banca dItalia: The functions of Banca dItalia are currency issue; banking and financial supervision; market oversight; safeguarding competition in the credit market; economic and institution analysis, research and study; and, jointly with the European central bank, oversight over payment systems. Banca Monte Dei Paschi Di Siena: It is one of the most important banks in Italy and it operates mostly in traditional banking activity, special credit, asset management, bancassurance and investment banking Banca Nazionale Del lavoro BNP Paribas: BNL is specialized in financial services, remote banking, online banking (e-family) and operates through an international network of branches. Banca Popolare Di Bergamo: BPB is a multi-functional bank which operates in insurance, leasing and merchant banking areas. Banca Di Roma Unicredit Group: The activities of the group Banca di Roma are: main credit services, asset management, and long-distance banking services for enterprises and firms. Gruppo Bancario Banco Di Napoli: It provides traditional financial and banking services and new economy and business assistance. Mediobanca: Financial credit bank, structured, asset and corporate finance, capital equity market. Mediocredito: Specialized in corporate banking, investment banking, company credit and private equity. Unicredit: UniCredito Italiano is the largest banking group in Italy in terms of operating income and market capitalization and second as regards interest margin and income from banking activities. Role of the Bank of Italy The Bank of Italy is the Central Bank of the country. It is the head of all the banks. All the banks are sub-ordinate to it. It is a Government owned institute and was established in 1893. It performs various functions in the banking field and economy of the country. Most important is the issuance of euro banknotes and withdraws and eliminates the worn pieces. The authority of monetary policy and exchange rate policies is no more in the hands of the Bank of Italy. In 1998 these authorities were transferred to the European Central Bank which is the head of all the banks in Europe. The main functions played by the Bank of Italy are as under: Supervise the banking system. Supervise the financial system. Ensure stability and efficiency of the system. Compliance to the rules and regulations formulated by the European Central Bank. Bank of Italy is the secondary authority in the legislation point of view. It co-operates with the governmental authorities in the formul ation of laws. Due to reforms introduced in 2005 the sole authority of Bank of Italy in the credit sector is now shared with the Italys Antitrust Authority. IT also performs other small functions also which are as under: Supervision of the Markets. Oversight of the provision system and provision of settlement services State Treasury Services Central Credit Register Economic Analysis Institutional Consultancy Ownership of Banking Institutions The ownership of the banking industry can be clearly identified according to a report submitted to the Bank of Italy in which it is specified that: 27% ownership of capital of banking industry in the hands of Italian banks. (i.e.-e there ownership is Italian based) 4% ownership is with the foreign banks working in Italy.( Ownership is of other countries) 18% is in the hands of public and non-profit institutions. (Govt. owned institutions) 5 % by insurance companies and financial undertakings. (Other than Banking Institutions) All these are due to the changes in the policies and reforms which the banking foundations or heads carry out. If we compare 1980s figures with todays figures we will find out that in 1980 the 75% business was captured by the public sector banks which today is reduced to merely 15% and is likely to be reduced more in the upcoming period due to changes in the policies. Now, privatization is prevailed in Italy. The reason behind so less foreign banks ownership is that the Italian banking has suffered greatly after the 2nd world war. Italy was discouraged by many laws with their exchange with the international markets but this situation was removed in the 1990s after which the Italian banking sector emerged as a competitive player in the global financial markets. In the 1990s the drop interest rate played a very vital role in the financial sector of the country. The development of stock exchange, prompted financing through the issuance of equity are done in this period of time. Now a larger part of the banking sector is owned by private firms. Banks Ownership in Non-Financial Firms The banks in Italy are regulated by the laws formulated by the Bank of Italy as it is the Head of the economy of Italy. According to laws there is no such restriction or limitations on the banks to invest their money in non-financial firms. But also this is a point that we dont find any such example that any bank is engaged in this activity. Banks are willing to invest only in the financial activities as they find it profitable and suitable for them. As far as the case of ownership of non-financial firms in banks is concerned, there is also no restriction for the share in banks. The non-financial firms can invest and own shares of commercial banks and also have equal voting rights. Risks Faced by the Banking Sector in Italy A bank has many risks that must be managed carefully, especially since a bank uses a large amount of leverages. If the banks do not use good and effective risk management techniques they could easily become insolvent. While talking of the Italian industry the major risks faced are: Liquidity Risks Interest Rate Risks Credit Default Risks Trading Risks Liquidity Risks: Liquidity is the ability of banks to pay their customers demand for cash or simply to meet the cash requirements of its customers. The banks face risks as the amount payable on bills and other negotiable instruments is known by banks as they know the due date and amount of it. But the customers demands on the chequing accounts are very much unpredictable. So the banks face the risk of shortage or keeping high cash with them is both risky. Other liquidity risks which the Italian banks face are off-balance sheet risks, such as loan commitments letter of credits etc. Interest Rate Risks: A banks main source of profit is the conversion of liabilities interest rate and asset interest rate. The banks earn by paying low rate on its liabilities (loans debentures etc) and receiving higher rate on its assets (loans investments etc). The risks arise as the interest rate for short term liabilities and assets are also short term based. It means they are not fixed and change according to different situations in the market. So the risks of the difference in the interest rate is always faced by banks as they do not know the exact rate for a longer period of time .However, in case of long term deposits and borrowings this risk is very much minimized as the rate of interest is fixed and known to the banks. Credit Risks: Credit risks are involved when a borrower fails to pay the amount of loan outstanding to his account. The Banks in Italy are required by law to create a loan loss reserve account to cover these types of losses. Usually after 90 days of non-payment of loan the loan is to be considered as bad debts. When the banks offer loans to the people other than its customers the bank conducts a Credit Risk Analysis. CRA is the determination of the possible risk involved in advancing the loan to that specific person and the result is deducted on the basis of his credit rating and history. Trading Risks: Generally greater risks are involved in the achievement of greater profits. By Law the banks in Italy are limited to their leverage ratios but they can earn by trading securities. For this purpose a separate department which involves hire traders specialized in hires trading. But the more the banks will try to earn profit the more the risk is faced by banks. Other risks: Foreign Currency Risks (Changes in the value of foreign currency that a bank holds). Sovereign Risks (Due to political instability of countries economy the fall in the value of native currency). Operational Risks (The damage to the equipment of the bank which is used in daily working). Techniques Used in Risk Management by Italian Banks As we discussed above the risks which are faced by the Italian banking sector. Now we will take a look at the techniques or methods of managing those risks carried out by banks. The techniques are as in the same sequence as the risks to clarify the more parts and are as under: Liquidity Management: The banks minimize the liquidity risk by applying the liquidity management technique which includes both asset management and liability management. Asset Management: This technique is applied by taking into consideration the cash ratio and the amount of liquid asset. The Banks are required to keep a specific ratio of its cash. So the bank keeps a sum of cash with it and other as liquid assets to meet the urgent demand of its customers. Liability Management: A bank increases the liability by borrowing. It can borrow either by taking loans or by issuing securities. The banks borrow from each other in the inter bank market which is known as Federal Funds Market. In this method the banks having large amount of cash offers loans to the banks with less cash power. In this way they keep a liability sector stable and safe. Credit Risk Management: The banks can reduce their credit risks by taking full information before granting loans. The banks apply effective credit techniques by creating a separate team for collecting and verifying all the information regarding the applicant of the loan. The banks also reduce their credit risks by granting loans to the different sectors of economy and not are limited to only one of the sectors. So that if one sector is defaulted the amount given to other sectors can be recovered. Interest Rate Risk Management: To overcome the interest rate risks the banks match the sensitive rate of assets to its liabilities. The banks also can use long term loans which are based on fixed rate of interest. Increasingly now the banks are using interest rate swaps to reduce their credit risk where bank receives fixed rate on its assets and in exchange for a floating rate (non-fixed) to the other party. However, if the banks use this technique it ultimately reduces the profit if the banks as low line of borrowers will accept this type of rate policy.

Monday, December 23, 2019

American Free Trade Agreement ( Nafta ) And Mercosur Essay

Each Member State faces difficulties with exportations to other countries in North America, Latin America and Europe (Development Paths in the Caribbean). The disadvantage is that these other countries have already established their own trading blocs such as the North American Free Trade Agreement (NAFTA) and Mercosur. There is a need for Caribbean countries to become part of the ‘bigger picture’ and discontinue assuming that their traditional schemes and old markets will continue to sustain them. Integration promises new and innovative solutions to open new markets and expand exportations. In a country small like Belize, exportations are decreasing dramatically and importations will continue to increase. The Bank of Guyana has also reported that the country’s exportations are higher than importations (Guyana Exports) People do not only live off economics alone, people also part of society; and the Caribbean society all share similar history, culture and traditions. Integration helps to create a sense of Common Identity (Premdas). Common Identity occurs when an individual feels a sense of belonging to a collective group. When referring to identity, emphasis should be placed on the way that a group reacts in similar situations. When individuals feel belonging to a collective group, cultural, gang, religious or educational, the individual reacts similarly to the group’s reactions when in similar circumstances. Similarly, when belonging to a regional integrated group,Show MoreRelatedFree Trade Blocs, A Major Step Towards Economic Integration1076 Words   |  5 PagesFree Trade Blocs Free trade blocs are intergovernmental agreements that limit regional barriers to trade by integrating different economies. The four types of trade blocs are Preferential Trade Area, Free Trade Area, Customs Union, and Common Market. The specific trade blocs included in this analysis are Mercosur, North American Free Trade Agreement, European Union. 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Sunday, December 15, 2019

Difference Between Goals Free Essays

Goals are often the main fundamental end point towards which organizations work. Goals define the aims and objectives of organizations that are set to be achieved in the due course of time. The different types of goals in an organization are for different purposes and reasons. We will write a custom essay sample on Difference Between Goals or any similar topic only for you Order Now Fundamentally there exist two categories of goals: official goals and operative goals. (Daft, 2001) The difference between these goals is quite obvious and can be explained easily. Official goals exist to define the organization’s overall legitimate objectives i. e. the stage it will reach during the course of its existence. Operative goals, on the other hand are in place to provide the momentum and motivation to employees in a particular direction. These seek to establish decision guidelines and are basically the means to achieve the fundamental objectives. In other words, operative goals define the goals of performance and employee productivity in order to meet the official goals.  (Daft, 2001) There should be a high degree of consistency and congruency between the official and the operative goals for the organization to benefit from it. At Google, the official goals are defined to being able to provide the world with all the information in and about the world in as many different languages as possible. Clearly speaking, it is a very broad, timeless and fundamental goals which Google is aiming at. There will hardly be any point in time when Google can claim that it has met its official goals. The operative goals of Google include the harbouring of individualism as well as collective group work: a goal that will motivate both strata of workers because it has been found out that many superb individuals may not gel into groups well and many average performers may perform exceptionally in groups. It also has provision for creativity and innovation. The operative goals of Google are clearly different and more specific towards performance and operations, while the official goals depict what the operative goals will one day lead to. (Google search engine) Thus, it should be borne in mind when considering the difference between operational and operative goals that these are highly related to each other and yet distinct. The example of Google as an organization highlighting the differences between these two types of goals exmplifies this fact aptly. How to cite Difference Between Goals, Papers

Saturday, December 7, 2019

Communication Apprehension And Satisfaction -Myassignmenthelp.Com

Question: Discuss About The Communication Apprehension And Satisfaction? Answer: Introducation Communication is a very important concept under the functions of management and this is something which the people indulge in on daily basis. Communication gains more significance when it comes to the professional interactions and in order for making a good impression. In the business life of a person it helps in formation of a sound business structure, along with enabling an individual in being linked in a proper manner, with their associates. As per Mikkelson, York and Arritola (2015) communication is a key element for the purpose of getting the managerial and organizational effectiveness. By making use of good communication skills, the employees become more involved in the work done by them and they can also gain a better understanding to the job being undertaken by them. This is due to the fact that communication not only involves speaking up, but also elements of listening. Communication skills are not only important for the professionals but also for the students in their acade mic life. This is the stage from where the individuals improve upon their communication skills. For the very same purpose, this reflective essay is being undertaken, so that I would be able to gain an understanding and so that I would be able to pin point on the qualities I have and the things which work against me, particularly with reference to the communication skills. Reflective essays are means to put a reflection on the present standing of an individual, where they help the person in understanding who they are, their features, the manner in which they change, and the factors which have an impact on them. To further help in taking this journey of presenting a reflective of myself, I need to make use of certain tools which would highlight the things which work against me. In doing so, I would be using five diagnostic tools, on which I have gotten an approval for them to be used for this reflective essay. Once I make use of these tools, I would be conducting a literature review, which would present the view of the leading scholars on this. Based on this, I would be creating an action plan for the coming six months. To start with this reflective essay, I had to pin-point the flaws which I have and in this regard, I started making use of the diagnostic tools. I started with Communication Skills Self-Assessment as this seemed to be the most suitable and matching diagnostic tool for the purpose of this essay. I have already quoted the work of a scholar in the introduction segment where it is provided that communication skills are the root of any tree and where this root is not strong, the tree would not stand. This is important for both students and the professionals and even in the life of general people. This tool checks the level of comfort which a person feels in all of their modes used in communication. These include telephonic, written, verbal and the like (Mind Tools, 2018a). The next tool I went for was the Self-Perceived Communication Competence Scale or SPCC, which most of my friends were also using. I got curious in terms of comparing my scores with others and thus opted for this tool. S PCC helps in measuring the communication apprehensions of a person where they go and communicate with people who are not known to them, and where the numbers of receivers are quite high. This is particularly helpful in showing the comfort level of any individual when they have to deal with masses (Neuliep McCroskey, 1997). Next I came to the tool which helps the survey taker in learning how good they are when it comes to their people skills. The skills judged in this tool are the soft skills, which have a major impact over the person succeeding in their technical skills. In the management and leadership roles, this tool is particularly helpful (Mind Tools, 2018b). The second last took which I made use of for this purpose was related to checking my presentation skills and this was the tool of How good are your presentation skills? This helps in checking the presentation skills of a person (Mind Tools. 2018c). The last tool I used was not being used by a lot of my friends, but I still wanted to use this tool to check my skills. This tool was non-verbal communication. This tool helps in gaining an understanding on the use of body language and the non verbal communication by a person (Help Guide, 2018). I made use of these five diagnostic tools and have myself ratings on each of these to get the results of these tools. In Communication Skills Self-Assessment tool which I used, I got a scoring of 106, which puts me in the second last category of this rating. This shows that I am perfectly at ease in the world when it comes to the interpersonal relationships. The next tool I went for was the Self-Perceived Communication Competence Scale or SPCC, where I got average scoring in public at 73.33, average scoring in meeting at 73.33, average scoring in group at 85, average scoring in dyad at 83.33, average scoring in stranger at 76.25, average scoring in acquaintance at 72.5, average scoring in friend at 87.5, and a total score of 78.75 which puts me on an overall average rating. This shows that my communication skills are average and I neither have per se communication apprehension nor lack it. Next I came to the tool which helps the survey taker in learning how good they are when it comes to their people skills. In this, I got a score of 44 which placed me in the marking of 37-58. This shows that I accept that working with others in the workplace is crucial. This however highlights that there is room of improvement for me as at times I get stressed out and feel pressure. This could have an impact on the management and leadership roles for me in future. The second last took which I made use of for this purpose was related to checking my presentation skills and this was the tool of How good are your presentation skills? The score I got I this was 50, which puts me in the presentation skills of average range, which shows that I have ok presentation skills. This shows I am an average presenter and do not leave a lasting impact on the audience. The last tool I used was not being used by a lot of my friends, but I still wanted to use this tool to check my skills. This tool was n on-verbal communication. This tool depicted that I have a good understanding on the non-verbal communication and I got majority of the answers correct. From the use of diagnostic tools, I highlighted two key features which I had to work on improving as I could not find a clear area of weakness. The areas I need to work upon are improving upon my oral and my written communication skills, which would encompass the presentation skills. As I have average scorings in communication apprehensions, I would also be working on improving it. The two incidents from my professional life which demonstrate my weaknesses are very small yet need to be mentioned here. The first one is the presentation which I had to give in training for another course. I was required to present a summary on how Rio Tinto has excelled in Australia and had created a presentation on it. However, I received average feedbacks on the presentation as the trainer felt that I had not made the best use of presenting the facts which I had create. This was particularly due to my lacklustre presentation and the stutter in my words. Even though by the end of this presentation, I was not stuttering or sweating, but I still was feeling a bit nervous and my hands were cold. There is another incident which shows that I lack the proper communication skills and that I have communication apprehension. As a part of the training program, volunteers were asked for going to a firm for certain work. However, when it came to taking lead on this project, I became hesitant and one of my friends took a lead on it. I not only lost an opportunity of going to another firm to gain new experiences, but I also got a low score on taking initiatives and in being the leader and the responsible one, when it comes to important aspects of the life. If this issue is not resolved, as highlighted through the core of diagnostic tool, I would not be able to take lead in my professional or business life. This would in turn result in me not growing and my career path being stagnant instead of being on a rising path. Even though these two issues are not as prominent, but these do give important leanings in the context of this discussion. Oral communication covers the capability of the graduates to get and present feedback, to participate in the meetings and in verbally communicating in the business context with the others (Jackson Chapman, 2012; Jackson, 2014). As per Popescu (2013), it is an interactive and a dynamic process in which the understanding and the very meaning is exchanged by use of expressions, inflexions, gestures and body language, which helps in contextualising the spoken words where the non verbal, para verbal and the verbal language is applied. In context of oral communication for business, public speaking is a very important concept (Jackson Chapman, 2012; Paglis, 2013). It also covers oral presentation in which the communication is made to the audience. It covers the ability of planning and presenting the ideas in a clear and fluent manner, which is usually in a definite time frame and the ability of varying the pitch, pace and the tone of the presentation for eliciting the response desired fro m audience (Wisker, 1994). The presenters not only are required to hold the knowledge of topic being presented; however, they are also required to hold a strong command on the language and have the ability of succinctly organizing and expressions the thoughts which they have (Bodie, 2010). Aryadoust (2015) has identified three key and basic skills for giving the presentation, i.e., non verbal communication skills, the verbal communication skills, and the content and its organization. The success of a presentation requires verbal communication skills which help the audience in understanding the presentation. The volume, the voice tone and the pitch are some of the contributory factors in giving effective delivery, as is the speaking at the pace which is matched to the audience and the content covered under the presentation. Through the research, it has been shown that the presenters have rich vocabulary and strong grammatical knowledge, through which they are able to express the thoughts which they have, in a coherent manner. Further, the individuals holding these qualities are deemed as more proficient and more competent (Christ, 1994; Luoma, 2004, Aryadoust, 2015). The ones who have the ability of delivering the content which is logically organized and which flows in a coherent manner, is another crucial component of the oral communication. As per Aryadoust (2015), the use of discourse markers, and as per Whetten and Cameron (2011), the use of signposts, are the indicators of movement in between the topics covered in the content, which contributes to the comprehension of audience. Through the combination of oral communications with the visual cues like non verbal communication, text and pictures, the audience in further helped in understanding the message of the presentation and helps in improving the perception the perceptions of the presenting party (Aryadoust, 2015). Further, as per Aryadoust (2015), the non verbal cues which the audience interprets include the eye contact, the facial expressions, body language and gestures. There are a number of models and frameworks, when it comes to the practitioner literatures, which are based on the professional presentations. The typologies range typically from four to eight Ps and also include the factors like PowerPoint, presentation, planning, pace, pause, pitch, practice and projection. In the literature covered in Whetten and Cameron (2011), five S approach has been adapted to effective presentations. In this framework, the oral communication is dynamic. There is a requirement of the ability of adapting the presentation or communication style, based on the situation faced by the person, who allows for measuring and developing of this skill imprecise and complex in comparison to training, as well as, the assessment of discipline based technical skills (Whetten Cameron, 2011). Owing to the presentation skills being transferable to such contexts and situations, they become an important attribute for the graduates. There have been quite significant changes in the contemporary workplaces which propagates the employers to seek such graduates who are able to work and collaborate in teams, are able to think critically and solve the problems (Harpe David, 2012; Jackson, 2014; Campbell Kresyman, 2015). The employers continue to treat communication as the most important skills which they sought after (GCA, 2014; Jackson, 2014; Campbell Kresyman, 2015; Sulphey, 2015). In Australia, the employers have ranked communication skills as holding more significance in comparison to the academic results in consistent manner when they recruit graduates for the different positions (GCA, 2012; 2013; 2014). Communication covers the skills in both oral and written expression. For the graduates seeking employment in the different fields, oral communication is crucial as it is a core attribute for them in fields like information systems, accounting, science, engineering, entrepreneurial studies and business (Isaias Issa, 2014; Barratt et al. 2011; Basturk, 2008; Mercer Mathews, 2015; Perdigones et al. 2009; Bell, 2015; Caza et al. 2015). However, oral communication is not merely significant for assuring future employment, but is a skill which contributes in a crucial manner to the academic performance of a person (Aryadoust, 2015). Studies have also shown that the through the strong oral communication skills, the conflict management, cultural sensitivity and the relationship awareness of a person can be enhanced (Whetten Cameron, 2011; Campbell Kresyman, 2015). So, where the oral communication skills are improved upon by the individual, they develop self confidence which further helps in self achievement, and when it comes to employment, it helps in progression of their career (Du-Babcock, 2006; Popescu, 2013; Isaias Issa 2014). Since the late 1960s, communication apprehension has been a key focus in human communication field (McCroskey, 1966). It is defined as the level of anxiety or fear of an individual, which is either anticipated or is real in context of them communicating with other individuals. This is a very stressful situation and has the features of internal feelings of uneasiness and discomfort. Stress is quite often discussed as anxiety as the constructs share same effects, opinions and symptoms for treatment. The common symptoms include anxiety and stress, and are coupled with rapid breathing, irregular heartbeat, trembling, sweating, irritability, tension, dizziness, and the other related negative side effects. And now anxiety is commonly associated with stress and vice versa is also true (McCroskey, 1977). In the education setting, communication apprehensions have a major negative impact on the learning opportunities and success of the students. Quiggins (1972) has highlighted the research whi ch has show that high communication apprehension is perceived as less attractive and less credible, which can also result in rejection in working and social environment. In itself, high communication apprehension is a negative feeling (Rubin Rubin, 1989). There are a number of communication traits which correlate to the communication apprehensions; though, there is a lack of specific traits to create a casual relationship. Amongst this skill is shyness. Shyness is, as per McCroskey and Richmond (1982), a tendency of being reserved, timid and the desire of talking less. This comes only in cases where the receiver is new and not known to the individual. Individuals who are talkaholics do not necessarily have a low communication apprehension which reveals that in certain settings, an individual would be confident particularly where they are dominant, but at other situations, confidence is transferred to other domains (McCroskey Richmond, 1995). The third trait is self-esteem where the perception of self has the ability of influencing the behaviours, evaluations and cognitions of a person. The support of audience is something which works in the favour of the speaker and plays a curial role in communication apprehensions. More importantly , Baqutayan (2011) has highlighted that the perception of an individual regarding the amount of social support they get, plays a key role in the life of a person in comparison to the actual support which is given. The manner of dealing with communication apprehensions has been suggested by Jones (2004). He has stated that there is a need to channel the apprehensions of a person, in such a manner that instead of letting the anxiety result in negative feelings, the same is channelled in a positive manner. Ohata (2005) has suggested that by changing the perceptions and by adopting a positive approach, the individual can learn to deal with the emotions which they feel during the time they had to communicate with strangers. There is also a need for the individual coping with communication apprehensions to undergo trainings which could help them in dealing with this issue in particular. There is a need for the individual to continuously practice speaking in public, as much is possible for them. There is a need for the individual to take on every opportunity to speak, even when it includes minor speaking time; for instance, introducing a speaker at any event. The anxiety has to be dealt externally al so, in place of working only on internal aspects. The individual needs to learn on how to focus on the task, in place of the negative feelings which are associated with them giving any speech (Reis, Clark, Holmes, 2004). Based on the literature presented in the previous segment, and the issues which I had, I have prepared an action plan, which I would be following for the next six months. This is presented below: Gantt Chart Feb-18 Mar- 18 Apr-18 May- 18 Jun-18 Jul-18 Daily Journal Details on courses Taking up any and all initiatives Creating presentations Publishing presentations online Reciting summary of fiction The action plan which I have prepared is simple and minimalistic in order to keep it real and practical. The first thing which I would be doing, as suggested in the assignment file, is keeping a daily journal. This journal would cover the different things I carry out in the next six months period and would particularly highlight the shortfalls which I continue to present. The literature stated that the individuals have to take trainings. In this regard, I would be taking suggestion from my mentor on the possible short course which I could take up, particularly to improve upon my presentation skills, so that my future life would be improved, in context of my career. As suggested through the literature, I would be taking any kind and all the initiatives which I come across in this academic curriculum, and also in the other spheres of the life. I would also be creating presentations on regular basis, which would be one every two weeks from March 2018 onwards. These would be on an array of topics so that not only my knowledge, but also my skill base is increased. Once these presentations are completed for four months, I would be setting up a blog and publishing these online. The success of my action plan depends upon the comments which I get on this blog, particularly from my mentor. As I love to read a lot, I would be taking up reading of new fiction books and would be reciting them to different crowds. This would help me in removing the communication apprehensions I have at the present. In conclusion, this reflective essay was aimed at analysing my communication skills, particularly in context of the areas I excel at, and the weaknesses which I have. For this purpose, I had chosen five diagnostic tools, which I read, scored and analysed. The analysis of these diagnostic tools highlighted that I had average presentation skills and also have moderate communication apprehensions. As these could have a negative impact on my future career, I carried out a literature review to analyse the key cause of these shortfalls and also to gain an understanding on the manner in which these can be improved upon. Once this was done, I prepared an action plan, based on the suggestions given in the literature to improve the shortfalls which a person has. The action plan also includes the criteria for judging the success of this six months action plan. 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