Meyerland Plaza †Real Estate Finance

This paper will take Chip Douglas and Steve Clark into a big decision on how to recommend to HMC the redevelopment of Meyerland Plaza. Because of the existing problem that took place 1980’s by the lending who take advantage the practice of lending and savings loan institutions the S&L who owns one parcel of the Meyerland Plaza lot. The W&C who called Chip and Steve was confident that they could leverage their leasing and development experience into larger-scale transactions. They were willing to make a significant co-investment of their own capital into the Meyerland redevelopment a deal that they had been working on for the past three years.Persuading the MHC to Invest in the Redevelopment of Meyerland PlazaMeyer land Plaza’s location is situated from on a 59-acre site fronting the West loop of Interstate 610 in fully developed southwest Houston. Meyerland Plaza is three miles from Houston’s Galleria area and the Texas Medical Center. The site was bordered on th e North by a   small strip shopping center, on the south and west by west existing residential development, an on the East by the West Loop 610 freeway. The place has 365,000 people (166,000 households) with income of $48,000 by 1999 will increase to 422,000.Beside the population was increasing yearly and the demand also increase. With this situation the HMC would not hesitate to invest to Meyerland Plaza as one of the promising company in the future.Risk that the HMC consider in Investing to Meyerland PlazaIt involves big Investment of about $19.5 million in equity and $35.2 million in construction debt. Most developer were wary of the exposure of closing a floating-rate construction and planning permanent, fixed-rate financing at a future undefined rate. Another factor to consider was the relative volatility of returns to retails development deals versus office or industrial deals. Mitigation that can be Foresee on the above IssueThe proposed redevelopment will offer the unique combination of the economics of the power center at the size of a typical regional mall.The project generate a highly predict table cash flow given the credit quality of the tenants.The proposed redevelopment will offer the unique combination of the economics of the power center at the size of a typical regional mall.Anticipated returns are 18% to 24% base4d on a five year holding period.Conclusion Chip and Steve had made a good decision in recommending to HMC because it is a good site and the populations in these areas are increasing yearly. According to the survey the community living in that area need a convenient shopping that Myer land Plaza can offer.The location is good that located within a densely-populated, stable trade area accentuated by significant purchasing power.Beside most power centers are on the fringe of markets demographic visibility and access from Loop-610 North & south. There is no doubt that investment of HMC will surely return in shorter period of year. In general, based on the above mitigation, if I were Chip and Steve, I also recommend to HMC in investing the redevelopment of Meyer land Plaza.ReferenceMeyerland Plaza. 2006. October 9, 2006

Organizational Development Essay

John F. Kennedy was quoted as saying â€Å"Change is the law of life, and those who look only to the past or present are certain to miss the future.† The world is in a constant state of motion. No one should expect things to always stay the same. Organizations require technologies and human resources in order to operate. A business needs to operate by learning from the past and planning for the future. Since, the economic collapse of 2008, the idea that any company is ‘too big to fail’ has been thrown out the proverbial ‘business window’. Business is now practiced in a global market and technologies have made the world a smaller place. â€Å"Managers and their organizations must anticipate the future and become proactive players.† (Brown, D.R., 2011, part 1.) Consider companies like Blockbuster Video. The demise of Blockbuster proves that leadership did not look to the future. This company considered itself to be the standard. Where is Blockbuster now? Instead of being an industry leader, it is trying to regain its footing in a marketplace it once dominated. Why? Blockbuster failed to take its competitors seriously. It did not consider technology surpassing the company’s own perception of practicing business. â€Å"In 2002 (Blockbuster) had 8,000 stores and a market value of $3 billion. Today, movie-by-mail Netflix is worth nearly three times that much. And Blockbuster is broke.† (Gandell, S., 2010, paragraph 19.) Successful companies are looking to the future as they learn from the past and present. Organizations that are successful will operate without ego, effectively communicate throughout the organization, and constantly reinvent themselves. Organizations need to be in constant development in order to move forward with any success. In this paper, I intend to define the importance of organizational development as it relates to my own company’s recent sale to a new group of owners. I intend to define organizational development as it relates to organizational trust, a strong practitioner-client relationship, the imperative nature of the diagnostic phase, effective communication between ownership and employees, and the importance of strategy as it relates to a successful transfer of ownership and culture to an organization. Organizations need to know when organizational development is necessary. I am a Managing Partner in the restaurant business. I currently have about 50 employees that I am responsible for. Recently, the restaurant I am running was sold to a South African group of owners. The owners actually bought two restaurants from the local restaurant group I was working for. After studying the Charlotte market and other markets throughout this great country of ours, the South African owners decided that Charlotte, NC would give them the best opportunity to grow a restaurant chain. The owners currently have over 150 restaurants in South Africa and this is their first venture into the United States. Once the sale became final, the owners began to evaluate all the current systems and business practices of the restaurants. The new owners began to re-develop the organization by defining its existing and future organizational identity. The owners sat down with staff and management to get an understanding of what the restaurants meant to each staff member. â€Å"The identity will provide an advantage if it is well aligned with the organizational strategy and well suited to the market niche, because identities tend to be socially complex and path dependent, and therefore difficult to imitate.† (Salgado, S.R., 2003, page 65.) The owners became the practitioners of change by purchasing the restaurants. After the sale became final, it was time to develop a sense of trust from the existing staff and management. One way of gaining that trust is to value the opinions of the current members of the organization. The new owners showed that they valued staff opinion of organizational identity. This process helped to develop the fundamental need to build a positive practitioner-client relationship. The new owners need an employee landscape that is friendly, not hostile. There is no way the new organization can move forward with a negative culture. Once trust was established, the new owners were able to begin to identify issues, problems, and opportunities each restaurant was having. The five fundamental stages of organizational development are: â€Å"anticipate the need for change, develop the practitioner-client relationship, the diagnostic phase, action plans, strategies, and techniques, and self-renewal, monitor, and stabilize.† (Brown, D.R., 2011, page 18). Ownership has followed the principles of organizational change and development in a very smart way. The new owners worked on building a strong practitioner-client relationship while gathering information about the businesses. They remained very approachable and worked hard to assist with the agreed upon change lists. Ownership made everyone feel as though they were not there to change what was not broken. Employees were made to feel proud about the restaurants they worked in. By developing such a good and trusting relationship, change has come easier. Once trust was established, new ownership quickly moved to the third fundamental of organizational development, the diagnostic phase. â€Å"Organizational diagnostic models and surveys have often been demonstrated by practitioners to be very effective in supporting organizational development   programs.† (Goldstein, L. and Burke, W. (1991), Vol. 19, page 5.) Diagnostic models are designed to help organizational development practitioners to â€Å"categorize data about the organization, enhance understanding about organizational problems, interpret data systematically, (and) provide appropriate change strategies.† (Lok, P., Crawford, J., 2000, page 108.) The practitioners have been reviewing every facet of the restaurant’s business practices. Ownership is constantly evaluating the effectiveness of each system. Technologies, equipment, and managerial functions are all reviewed and measured to the new standards and goals set forth by the owners. The ownership designed a â€Å"team approach to setting and reviewing targets, real participation by subordinates in setting goals, with an emphasis on mutually agreed upon goals, mutual trust between subordinate and manager, and a real concern for personal career goals as well as for organizational goals.† (Brown, D.R., 2011, page 327.) Ownership felt that the technologies were not tied in together very well. Ownership felt that the current gathering of data was cumbersome and inaccurate. The practitioners felt that the clients needed to stream-line the ways in which data was collected. By reviewing every program and system of accounting, the new owners were able to determine that updating would be necessary in order to move the two concepts forward. Looking to future growth was not going to happen for the organization until both concepts were able to produce accurate information about the actual business. Ownership also determined that it wanted its managers out in the restaurant more. There was simply too much to do in the office while running the restaurants. The practitioners asked current upper management to clearly define the responsibilities of each manager and chef position. At this point, the culture of the new organization had begun to take shape. Clearly defined roles and a change in managerial philosophies have started to grow. I have witnessed what I believe is a very successful transformation of culture. Responsibilities are clearly communicated. Accountability has improved. By creating clearly defined roles, the effectiveness of each manager is much easier to measure. At times, however, communication has been inconsistent. The massive restructuring of all current systems has taken a toll on some people in the organization. Missed deadlines and unforeseen problems have occurred. The way in which the new ownership has responded to the unforeseen issues has been impressive. I feel that new ownership has shown an unwavering amount of dedication to the new organizational vision it has set in place. Considering the amount of change, the owners have been very clear and approachable throughout the transformation. I respect and support their efforts in remaining approachable and supportive. They exude an understanding of what each existing member or employee is going through.   Ownership has been very aware of the ego state of the organization. â€Å"Every interaction between people involves a transaction between their ego states. When one person converses with a second person, the first person is in a distinct ego state and can direct the message to an y of the three ego states in the second individual.† (Brown, D.R., 2011, page 230.) Ownership has made every effort to have open and complementary transactions with groups and individuals throughout the organization. At the same time, they have also shown that the organization will move forward with or without its current members. Holding people accountable has been extremely important. â€Å"In today’s changing environment, organizations that encourage individual ability and hold employees accountable for achieving goals are more likely to succeed.† (Brown, D.R., 2011, page 381.) The practitioners have been able to accentuate individual strengths and weaknesses within its existing employee body. This approach has brought on a spirit of contribution to the cause of the new vision presented to the ‘old guards’ of the organization. This is a very clever approach to affecting change. Also, the new leaders of the organization have discovered some hidden talents within its current team-members. Finding an existing and in-place pool of needed skills has helped the new leaders keep an aggressive time-line for the development of change. New owners did not have to look completely outside the organization for skills that will enable change. Instead, new owners were able to motivate change by looking for solutions internally. Looking for hidden talents helped to reaffirm the positive culture of opportunity and renewed perceptions of the employee skillset. An internal approach to solving or rectifying identified issues has also kept the cost of change down. Existing members already have a sense of where the shared vision of the company is going. Existing staff has a greater stake in the organization’s success. Because of shareholder accountability, ownership is smart to look internally for as many talents as possible. Ownership believed by stream-lining technologies and accounting systems, it could improve the quality of the guest experience and profitability of its organization. Ownership started this process by surveying all existing management to try and determine what each manager actually knew about the existing programs and technologies. A methodical and measured approach to re-designing office systems will enable the organization to become more consistent in gathering data and measuring the performance of both restaurants. Their  vision of the future of the organization has been effectively shared with everyone involved . The deadlines for improvements have been followed-up effectively. A weekly meeting between ownership and upper management takes place. In these meetings, organizational effectiveness is measured by how well goals and objectives are accomplished. At first, goals were very broad and basic. Managers were asked to evaluate their knowledge of existing point of sale programs, invoicing programs, and budgetary knowledge. Once ownership felt it had acquired enough knowledge about existing systems, the project or ‘goal’ chart was updated and tasks became more narrow and specialized in focus. Managers were held accountable to their goals based on their strengths or expertise. For example, one manager is very adept with computers. This has become his area of focus for the remainder of the re-development of the organization. â€Å"The collection of data is an important activity providing the organization and the practitioner with a better understanding of client system problems: the diagnosis.† (Brown, D.R., 2011, page 19.) Ownership has been very diligent about data accuracy. Every number and system has been reviewed for accuracy and consistency. In order for the company to move forward, ownership has to determine what is and what is not vital to the new organizational vision. Ownership has already picked two new sites for additional restaurants. It is important that both restaurants operate in the same way as the business grows. This is why organizational effectiveness has to be optimized and not hap-hazard. â€Å"Organizational practitioners need to assess the influence of variables in diagnostic models on organizational outcomes, and effectiveness has often been used as the primary outcome measurement. (Handy, 1985, p. 85; Burke and Litwin, 1992). The new owners have done an excellent job moving the new organization through a surprising change of ownership. I have enjoyed watching how these new owners have handled the organizational development of the restaurant. Organizational change and development is certainly not easy. Leadership from the owners to the managers has to stay on course with the changes. Total commitment and a positive attitude are necessary. Negativity spreads like wildfire when redeveloping an organization. The owners have worked hard to cope and shape their environments, through the way they organize and operate their organization. The history of organizational development has to be an interesting one. As I watch these new owners re-tool both establishments, I wonder if they are taking the same course in organizational development that I am. The owners have to pass forward their beliefs or values as to what the restaurants should be. Things that worked before might be tossed. New things are   introduced. The style of service and the menu, the technology, are all things the owners have to push forward to current and new employees. All the while, business is ongoing. The doors are open. Customers are hearing of the sale and are passionate about the changes. Some changes are subtle. Some changes are extreme. How does the ownership remain familiar to what the concept once was? The entire process is exhausting. The public’s resistance to change is fierce at times. One very popular item on the menu was discontinued when the new menu was rolled out. Granted, the menu had not changed in four years. Servers and cooks were tired of doing the same thing every day. The item that was discontinued was actually a very bland and tasteless item. Servers and cooks hated selling it. There was excitement and concern when the new ownership wanted to get rid of it. We all knew we were in for it when the new menu came out. Sure enough, customers have missed not having this item on the menu. Customers have been very vocal about this one item. Ownership feels that quality ingredients, perfect preparation, and impeccable service will build sales. There is a determination that the new regime can move past this one dish and convince the fickle public that there are a lot of other good reasons to dine at our restaurants. We are doing more than trying to keep our existing clientele. We are building a new clientele. Whatever perceptions the public had of us before does not matter. It is interesting to hear the complaints about some of our changes. All the while, most of the same staff works at the restaurant. The only real changes the public see are dress codes and menu changes. Otherwise, most change is behind the scenes. Because of the intense scrutiny mistakes in service or execution of the shift has to be perfect. We cannot afford to be less than perfect right now. Complacency has no place in the restaurant business. To be successful, we should always be looking ahead and learning from our past mistakes. We should always challenge ourselves to be better than we were yesterday. We are always training and learning. Managers should be acting as coaches and mentors to the staff. Management at all levels should not only ‘talk the talk’, they should ‘walk the walk’. However, the complaints are not always fair. The new menu is terrific. Quality and service are actually better than ever. The new owners spent a lot of money to help update and fix equipment that was vital to running the restaurant. Ownership has brought in more management and has improved the morale of the restaurant, not to mention the quality of life for all salaried people like myself. There has been a certain camaraderie resulting from moving toward common goals with other people. There is now a belief that we are a better place today because of our efforts. The best interventions from a   values point of view are those that help clients prepare their place in the future, whether its creation or adaptation. I am sure as we move forward that we will come in to our own again. The once faithful group of regulars will either go their own way or forgive us. Organizational development is a change strategy. â€Å"OD principles and techniques are experiencing a renaissance, thanks to the growth of the field of change management.† (Worren, N.A.M., Ruddle, K., & Moore, K.,1999, paragraph 3.) Organizational development requires a change in behaviors. These behaviors, good or bad, become the organizational culture. The organizational beliefs and values start at the top of the food chain, the owners. What is important to the owner should be important to the worker in that organization. It is imperative that the owner or any organization find a way to keep his people motivated and passionate about his organization’s products. Therefore, the leadership of any organization has to ‘connect’ to develop change and organizational success. Leadership has to be viewed as the change master. An organization that wants to remain vital, must be able to deal with change. A restaurant is an excellent example of a business in a constant state of change. For some restaurants the menu can stay the same. Maybe that is what people like about the place. However, what goes on outside the restaurant can cause a need for change inside the restaurant. Roads are closed, the economy is shrinking, parking is now too difficult to bother, these are all worrisome real-life issues that any organization or restaurant might have to deal with. The restaurant cannot afford to maintain the status quo, change is simply that critical. Kurt Lewin developed the concept of force-field analysis. This philosophy is â€Å"deceptively simple and can be used to help plan and manage organizational change.† (Cumming, T.G., & Huse, E.R. 1989, page 3.) Lewin believed that an organizational behavior was affected by the balance of two opposing forces. When these opposing forces are at odds, change happens. According to Lewin, there are driving forces and restraining forces. Driving forces affect and assist in the desired change. Restraining forces do quite the opposite. Restraining forces represent obstacles to the change. â€Å"If the weights of the driving and restraining forces are relatively equal, then the organization will remain static.†(Cumming, T.G., & Huse, E.R. 1989, page 3.) Ownership has to remain aware of the balance of power these two forces represent for the organization. Change has to appear to always be for the good of the whole organization. People are wary of change and must be made to feel a part of its success in order to help embrace the new mindset. Lewin’s force-field analysis works as a method of environmental scanning and as a way for creating an empowering environment to the culture of the organization. The new owners have done an excellent job moving the organization forward. The efforts made to gather data and technical knowledge have been diligent. The new owners have moved forward by doing their homework. After reviewing all the necessary information, ownership has been able to assimilate all the necessary funds, materials, staff and time. As the organizational development process has moved forward, it has become obvious that the owners plan on giving their newly acquired business the tools it needs to accomplish the shared vision. This, of course, has led to the owners’ final phase of organizational development, the support of their people. At first, ownership had to tread lightly. In the beginning, it was as if the new owners wrapped their arms around us all and said â€Å"everything will be alright, just stick with us.† As the new team moved forward, some upper management was asked to leave. Time has been a good indicator of the ownerships’ dedication to the new vision and culture of the organization. Their efforts have been unwavering and very consistent. In this paper, I have detailed the importance of organizational development as it relates to my own company’s recent sale to a new group of owners. The process of organizational development has been fascinating to watch. Although the constant evaluation of all systems and actions throughout the organization has been exhausting, I believe ownership has succeeded in redeveloping a once tired and inefficient culture. Employees and managers have felt a greater sense of purpose towards the new organization. New ownership has successfully relayed a positive sense of urgency and purpose towards its existing staff and team members. The revamping of the organizational culture has brought forth a better quality employee and better quality experience for the organization’s customers. The organizational development techniques applied by the new ownership has helped to improve the profitability of both restaurants. New ownership had once touted that two additional restaurants would be opening within twelve months. Because of the success in developing organizational change, new ownership has now determined a new restaurant can be opened in only six months instead of twelve. This fast organizational growth is to be celebrated because it is a direct result of the diligent efforts of ownership and all staff involved after the transfer of ownership became official. Trust, a positive practitioner-client relationship, a successful diagnostic evaluation and change, effective communication between ownership and employees, and the importance of strategy has allowed this organization to become stronger and advance its number of concepts. In short, growth happens if organizational development is applied effectively. References: Brown, D.R., (2011). An Experiential Approach to Organizational Development (8th ed). Upper Saddle River Pearson Prentice Hall. Retrieved from: http://onlinevitalsource.com/#books/9780558857257/pages/31616081. Cumming, T.G., & Huse, E.F. (1989), Organizational Development and Change (4th ed.) St Paul, MN: West Publishing. Retrieved from: http://jeritt.msu.edu/documents/TallmanWithoutAttachment.pc. Gandell, S., 2010, How Blockbuster Failed at Failing, Time Magazine. Retrieved from: http://www.time.com/magazine/article/0,9171,2022624-2,00.html. Goldstein, L. and Burke, W. (1991), Creating successful organizational change, Organizational Dynamics, Vol. 19, page 5-17. Retrieved from: http://search.proquest.com/docview/215864273?accountid=32521 Handy, C. (1985), Understanding Organizations, Penguin, London. Retreived from: http://search.proquest.com/business/docview/215864273/13901F6FOC3249E4570/1?accountid=32521 Lok, P., & Crawford, J., (2000). The application of a diagnostic model and s urveys in organizational development. Journal of Managerial Psychology, 15(2), 108-124. Retrieved from http://search.proquest.com/docview/215864273?accountid=32521.) Salgado, S.R. (2003), Fine Restaurants: Creating inimitable advantages in a competitive industry. New York University, Graduate School of Business Administration). ProQuest Dissertations and Theses, 161 p. retrieved from: http://www.search.proquest.com/docview/305261479?accountid=32521305261479. Worren, N.A.M., Ruddle, K., & Moore, K. (1999.) From organizational development to change management: the emergence of a new profession. The Journal of Applied Behavioral Science, 35(3), 273-286. Retrieved from http://search.proquest.com/docview/236248857?accountid=32521.

Examine Hamlet’s Relationship with Gertrude Essay

At the beginning of the play, during Hamlet’s first soliloquy, Hamlet contemplates suicide because he is so furious with his mother for marrying Claudius within a month of his father’s death. This is when Hamlet comments, ‘frailty thy name is woman’ to express his bitter feelings towards his mother for not only the speed of her remarriage and betrayal of his father, but the ‘dexterity to incestuous sheets’. The situation, and Hamlet’s reaction to it, is a trigger of an increasing negative attitude towards all women, viewing them as weak. It is shown through his relationships with Gertrude and Ophelia. The audience learn through the other characters that Hamlet has shown affections towards Ophelia; whether they are genuine and lasting feelings is uncertain as Leartes advices Ophelia that they are not. Leartes asks Ophelia to ‘hold it a fashion, and a toy in blood;/ A violet in the youth of primary nature.’ Leartes not only says that Hamlet’s feeling towards Ophelia is short-lived nonsense of his youth but highlights that ‘for he himself is subject to his birth’. Polonius also echoes a negative portrayal of Hamlet’s relationship with Ophelia as he advises her to ‘be somewhat scaner of your maiden presence’. Ophelia sees that Hamlet’s feelings are genuine as he ‘hath importuned me with love / In honourable fashion’ and ‘hath given countenance to his speech†¦ with almost all the holy vows of heaven’. However, she is obedient and follows the wishes of her brother and father to ‘keep as watchman to my heart’ or to not ‘give words or talk with the Lord’. The rejection of Hamlet by Ophelia is a significant influence in him believing that ‘frailty thy name is woman’ as Ophelia could be seen as weak for following the orders of others who assumed that Hamlet’s affections could not be trusted when she, herself, believed them to be true. Hamlet’s reaction to Ophelia’s rejection is extreme and she is ‘affrighted’ by his state of ‘knees knocking each other†¦ with a look so piteous in purport/ As if he had been loosed out of hell’. His bitterness has been exaggerated by the ‘antic disposition’ that he has adopted since learning that his father was murdered by his uncle from his father’s ghost. This would make him feel even more anger towards his mother for marrying Claudius. He is manipulated by the Ghost who encourages his frustration for her when he says, ‘ shameful lust/ The will of my most seeming-virtuous Queen’. Hamlet is in a vulnerable position as he is shocked by the revelations and is still grieving his father; it is comforting to ally his own feelings with his father’s in his resent towards Gertrude for marrying Claudius so soon after the King’s death and is quick to believe that he is a murderer. Hamlet follows the Ghost’s orders to not seek revenge on Gertrude but to ‘leave her to heaven’. Hamlet’s despise for Gertrude festers within him through the play and with it, his views of women. Hamlet follows the Ghost’s wishes not to take action against Gertrude and as a result he makes Ophelia suffer for his hatred of his mother. The extreme behaviour which Ophelia reports to her father leads Polonius to believe that he is ‘mad’ with the ‘very ecstasy of love’. Ophelia was obedient to her father’s wishes and ‘did repel his letters, and denied/ His access to me.’ In contrast to Hamlet’s ‘mad’ behaviour a letter written by him to Ophelia shows his strong feelings of affection towards her as he says, ‘To the celestial and my soul’s idol, the most/ beautified Ophelia’. The language is passionate in a very exaggerated style and shows that Hamlet had powerful emotions for her, and a rejection would cause an exaggerated reaction also. In conversation with Polonius, Hamlet’s bitter feelings towards women come out through quick and crude puns: ‘Let her walk not I’ th’ sun. Conception is a blessing, but not as your daughter may conceive’. This echoes Hamlet’s comment that ‘frailty thy name is woman’ as the punning suggests women are improper and easily influenced. In Hamlet’s next meeting with Ophelia he is harsh towards her and denies sending her letters but speaks abruptly to her, making connections between chastity, beauty and immorality. He repudiates Ophelia, the woman he once claimed to love, in the harshest terms and urges her to go to a nunnery as she ‘wouldst thou be a breeder of sinners’ and comments unfavourably on the flirtatious tricks of women such as ‘lisp’ and ‘nickname’. Hamlet says ‘we will have no more marriage’, this is not only because he believes women make ‘monsters’ of their husbands but the resent of his mother’s marriage to Claudius is also implied. When Rosencrantz and Guildenstern are sent to find out what is troubling Hamlet he feels betrayed his mother as his mother and Claudius are together plotting together ways spying on Hamlet; his mother is being led by Claudius. He goes on to say that he has lost all interest in life, ‘Man/ delights not me; no, nor woman either’. He talk of men and women separately suggesting that they are different creatures. During the play Hamlet is cold towards both Gertrude and Ophelia, when his mother asks him to sit by her he refuses as ‘metal more attractive’. He comments, ‘how cheerfully my mother looks, and my father died within these two hours’, and speaks of ‘country matters’ crudely to Ophelia. Hamlet is thinking about the way his mother has acted and as he cannot confront her he offends Ophelia. Even though it is not suggested that Gertrude connived at her husband’s murder, but by marrying Claudius she is guilty by association, â€Å"None wed the second but who killed the first’. It reminds the audience the way in which the circumstance has changed him to believe ‘frailty thy name is women’. Once the play has been stopped, Gertrude asks to speak to Hamlet which is when he confronts her about his feelings as before he had to ‘hold my tongue’. He tells her that it was Claudius ‘blasting his wholesome brother’. He asks why she would desert his father for his uncle and aggressively shames her ‘in the rank sweat of an enseamed bed/ Stewed in corruption, honeying, making love/ Over the nasty sty’. The audience recognise the crude language that he used when speaking to Ophelia as he condemns the ‘frail’ women. Gertrude is convinced mainly by Hamlet’s insistence and power of feeling, which illustrates her ‘frailty’ and tendency to be dominated by powerful men and her need for men to show her what to think and how to feel. Ophelia is driven mad by her father’s death and it contrasts strongly with Hamlet’s, differing primarily in its legitimacy: Ophelia does not feign madness to achieve an end, but is truly driven mad by the death of her father. After Polonius’s sudden death and Hamlet’s subsequent exile, she finds herself abruptly without any of them. She is obsessed with death, beauty, and an ambiguous sexual desire, expressed in startlingly frank imagery: ‘Young men will do’t, if they come to’t, By Cock, they are to blame. Quoth she ‘Before you tumbled me, You promised me to wed.’ Shakespeare has demonstrated her chaste dependence on the men in her life; similar to Gertrude’s character. Ophelia is in such a ‘frail’ state when in the same situation as Hamlet – their fathers both murdered – she commits suicide, which Hamlet also contemplated in his first soliloquy. Ophelia is associated with flower imagery from the beginning of the play. In her first scene, Polonius presents her with a violet; after she goes mad, she sings songs about flowers; and then she drowns amid long streams of them. The ‘fragile’ beauty of the flowers resembles Ophelia’s own ‘fragile’ beauty, as well as her nascent sexuality and her exquisite, doomed innocence. Despite Hamlet’s harsh treatment of Ophelia, Hamlet is grief-stricken and outraged when declaring in agonised fury his own love for Ophelia. He fights with Laertes, saying that ‘forty thousand brothers / Could not, with all their quantity of love, / make up my sum’. This shows that his despise of women could not overcome his love for Ophelia in the same way that Hamlet had trusted his mother to believe he is not mad but not tell Claudius that is an act, even though he had felt betrayed by her throughout the play. Therefore, Hamlet was shattered by his mother’s decision to marry Claudius so soon after her husband’s death, Hamlet becomes cynical about women in general, showing a particular obsession with what he perceives to be a connection between female sexuality and moral corruption. This motif of misogyny, or hatred of women, occurs sporadically throughout the play, but it is an important inhibiting factor in Hamlet’s relationships with Ophelia and Gertrude. He urges Ophelia to go to a nunnery rather than experience the corruptions of sexuality and exclaims of Gertrude, ‘Frailty, thy name is woman’. Gertrude seems to have a powerful instinct for self-preservation and advancement that leads her to rely too deeply on men much like Ophelia who is also submissive and utterly dependent on men. As these are the only two significant women in Hamlet’s life it is easy for him to conclude that ‘frailty thy name is women’.

Why should we think sociologically about everyday life Discuss by Essay

Why should we think sociologically about everyday life Discuss by drawing on writings by Mills and Bauman - Essay Example According to Bauman (2001), there are characteristics that set sociological thinking apart from other, more commonsense ways of thinking. Sociological thinking questions basic assumptions – it does not take for granted the everyday suppositions that we make; rather, it deconstructs theses assumptions and breaks them down, making them open to debate and differing opinions. Also, such a way of thinking goes beyond just our individual experiences; instead, it tries to explore multiple world views, trying to look at as many different perspectives as possible, respecting and accepting that difference of opinion will always exist. Another difference between sociological thinking and other kinds of thinking are that when trying to explore human behavior, such a way of thinking does not limit itself to individual experience, but instead, looks at societal behavior as a basis for explaining human behavior. Lastly, sociological thinking is structured in such a way that it bases its argu ments by backing it up with evidence, rather than making claims that are unsupported by facts. So what are the reasons that make it important for us to think sociologically? What can such a thinking do for us and why is it important? One of the most important reasons for thinking sociologically, as Bauman & May (2001) make clear for us, is its emphasis on de-familiarizing ourselves with what we have come to take as granted. What this does is that it opens us up to differing perspectives, allowing us to think beyond what we have taken to be our reality. â€Å"To all those who think that living life in a more conscious way is worth the effort, sociology is a welcome guide† (Bauman & May 2001). Sociological thinking is reflective and perceptive; it encourages us to look at the world in new ways, exploring and understanding issues from multiple perspectives, always accepting the fact that people will hold different opinions, depending on their own individual experiences and social

Disseration Proposal Thesis Example | Topics and Well Written Essays - 1250 words

Disseration - Thesis Proposal Example Fox (2005) opined in his book regarding the 1998 March survey, that 90 percent of Americans are concerned with the moral decline: 49 percent labeled it a moral crisis, and 41 percent labeled it a major problem†(p. xiii). He goes on to assert that ‘in 1998, we were becoming aware of the morale decline then the question that becomes paramount, why was nothing changed’? The year 2001 will undoubtedly go down in history as a period fraught with corporate malfeasance. The spectacle of senior leaders being led away in handcuffs may become one of the images that define the corporate misdemeanors of modern times. The corporate scandals in North America, including WorldCom, International Olympic Committee, Enron, Tyco, Qwest Communications International, Duke Energy, and Bristol-Myers Squibb, as well as sex scandals in the Catholic Church, have resulted in a loss of confidence in the management and leadership of these large organizations. Consequently, investors have become unnerved and the jolts have shaken international markets. It is no wonder that a CBS poll taken in the fall of 2002 finds that 79% of respondents believe questionable business practices are widespread and only fewer than one third thinks that CEOs are honest (Wallington, 2003). These corporations have all come into the limelight for the wrong reasons. As a result, the role of the CEO in ethical dilemmas has come under increased scrutiny. While ethical lapses occur at all levels of organizations, senior executives who fail to set high ethical standards and live by them become senior leaders within an organization that assume the belief to display high ethical and moral values in their conduct both within the organization and outside are not an important value. Yet, many instances have come to where they discard this significant aspect subjected to scrutiny and held accountable for the consequences of unethical practices, damaging the interests of employees, shareholders and the

The Motorcycles Company Essay Example | Topics and Well Written Essays - 1500 words

The Motorcycles Company - Essay Example The size of these engines ranges from 500 cc to 1000 cc. Now the organization is planning to introduce large tour class motorcycles in order to target those customers who love to travel long distance. The proposed target market for this segmented motor cycles are the males aged between 35 and 60. The organization is targeting the customers whose income level ranges from 55, 000 US dollar to 100, 000 US dollars. The management of the organization decided to develop new strategies for newly proposed motorcycles. In addition to this, the organization will try to continue with its existing products in order to maintain existing client base. Discussion This part of the essay will outline required process steps that are required to develop the motor cycle. Process Steps and Rational for response First of all, it is important for a project manager to identify key suppliers for the required engines that are used in touring class motorcycles. Many suppliers and distributors are available in t he market. But it will be effective for the organization to rely on old and existing suppliers. The project management team should find out effective and skilled workforce who has the ability to fix the engines and parts and develop new touring class motor cycle. It has been discussed in the case study that the organization is trying to use larger than 1100 cc engines in their touring class motor cycle. ... The organization should develop a budget for manufacturing and distributing these motorcycles to end customers. The organization should try to give high quality parts and engines in the motorcycle to gain significant customer loyalty and high brand preference. In addition to this, effective budget management process will help the organization to determine the pricing of motorcycles. The project management team should try to incorporate advanced technology in business process as it will help the organization to reduce the operating time and cost. In addition to this, the employees of organization can feel limited work pressure by this strategy implication. Promotion is an important element for an organization to market its products and services. Motorcycle rally, digital media promotions and online advertising will help the organization to create huge brand awareness. Last but not the least; the organization should give value to after sales service and feedback process as it will help the organization’s project management team to improve the quality of the motorcycles. Recommended Strategy to senior executives It is important for the organization to focus on its existing business activities rather than wholly focus on new business strategies. It is true that the organization is implementing new business and product differentiation strategy based on the recognition and profitability of existing business. The senior executives should realize that maintaining business sustainability in the long term is the important objective for the organizations. On the other hand, creating some brand awareness on the mind of target customers for the newly developed motorcycle would serve short term needs of this motorcycle company. It is impossible for the organization to

Steal Making Essay Example | Topics and Well Written Essays - 2250 words

Steal Making - Essay Example This paper explores steel making, fabrication techniques, material science and properties that make steel one of the most useful components in engineering and construction. Steel is the most important metallic material used in engineering and construction. In 2013 alone, the net global steel production was 1,607.2 million metric tons. China, the largest producer, contributed almost 49% of the total global output, the European Union’s total output of 779.0 million metric tons. Overall, the world’s steel production has increased steadily, signaling the rising importance of steel (Yap 20). Steel has been previously used for the production of tools and other implements in many parts of the world before it became the most common material in modern times. Steelmaking has continually evolved from the ancient production in bloomery furnaces to the current efficient mass production (Murr 42). Steel is itself not a singular material, but rather a combination primarily composed of iron and carbon which form an alloy. Other components of steel include manganese, phosphorous, silicon, oxygen and sulfur. Mass production of steel became more efficient starting in the 17th Century with the development of blister and crucible steel (Murr 50). In 1856, the Englishman Henry Bessemer invented a steel smelting technique called the Bessemer process. The entry of the Bessemer process in the 19th Century was perhaps the defining point for mass steel production. Other production techniques such as the Siemens-Martins process and the Gilchrist-Thomas process followed, but they served to refine the steel production process further. Steel is, therefore, popular for construction and many other uses since unlike other forms of iron such as wrought iron; it is harder and possesses tensile strength. The report shall describe the various processes undertaken in the formation of steel (Huaixiang, Zhang and Xingqi n.p).

Transformational leadership and manageent syle in nursing Essay

Transformational leadership and manageent syle in nursing - Essay Example The kind of work she does from asking patients how they are doing, and whether they have what they need here; to directing other staff members making sure all hospital work gets done on time and efficiently. She also makes sure along with getting work done is that all staff members get time off and they get to go out too and do not just get stuck with work all the time. This extra care from the nurse manager ensures that they are motivated and happy with whatever work they are doing and they hence do everything in a better way than normally expected. Hence, apart from ensuring that everything gets done on time this nurse also makes sure that everyone gets time off and vacations on time too. This shows how caring she is towards hers staff members and the people she has under her for leading and motivating. We call this inspirational of transformational leadership. Transformational leaders identify and formulate a vision for their followers and sub-ordinates to follow. They create an idea of a future environment and vision. They visualize how things will eventually be if they work and try to achieve success. In the case of the nurse manager, she devises a vision as to how the other nurses should provide to the hospital and the patients. Secondly, all transformational leaders provide a suitable ideal for the workplace and for the people working there. The nurse manager being a transformational leader also sets an example by adhering to activities and rules that are typical of efficient hospital nurse management. Promote the importance and willingness to accept of goals of the entire group of people the transformational leader is leading. The nurse manager also does this through setting goals first and then making sure there is cooperation and understanding in between each group member and all nurses that is so that there is harmony amongst them. This harmony makes sure that all members change their individual goals into collective goals and achieve common group goals henceforth. Uphold expectations pertaining to high formulated levels of performance and making sure that the entire group meets these expectations criteria. The nurse manager gives confidence to the entire staff that they can get this particular task done for example making sure that the hygienic conditions in the hospital are met etc. Catering to individual support. This is done to make sure that the members of the group/team feel worthy and

Personal journal entry Essay Example | Topics and Well Written Essays - 250 words - 1

Personal journal entry - Essay Example However, all the formatting methods must adhere to the required method selected by the institution for consistency. If these standards were not available, there would be chaos in writing because many methods of writing would be available and that would these would not be following a particular consistent strategy making it difficult to communicate between different individuals. In fact, there would be no communication because the formatting methods applied enable understanding and consistency. The audience determines the content and how the message needs to be delivered. One cannot generalise the message and the audience because every message must have be tailored to a specific audience. Selection of words while writing can depends on the formality, so that if the audience has high level of formality it is important to avoid using words with similar denotation that have different connotations like â€Å"aren’t mad† and â€Å"are not angry.† In terms of tone, the appropriate tone of word selected should match with the purpose of that word with the audience. The tone relates to emotion, attitude, seriousness, or humour. One should use humour when it is appropriate and resonate with the audience. The most important part is to avoid using slang word or using personal digressions in any form of

Regulatory and Economic Environment Term Paper Example | Topics and Well Written Essays - 1500 words

Regulatory and Economic Environment - Term Paper Example In fact, a somewhat 'hands-on' approach is used in order to have a say in the economy by the government. The regulatory framework in India is to provide accounting information so that the government can execute planning and managing of corporate behaviors. All companies are expected to be honest about their accounting practices irrespective of how big or small they are. Types of business organizations: Roberts, Weetman and Gordon stated, "an important economic feature influencing accounting is the type of business organization that dominates the economy. Two features of business organizations are particularly important in helping to explain accounting rules practices: stated that in India the business can be categorized into very large business houses, medium business organizations and very small businesses. There are many family-owned businesses too. Contrary to the popular belief the family-owned businesses in India are not always small. In fact, the largest business house in this country is a family business. Hence the regulatory framework is based on the size of the business organization. ...In fact the implementation of the International Accounting Standard - IAS 41Agriculture can be attributed to the pressure from agriculturally rich countries like India. India is growing by leaps and bounds in technical sectors and foreign trade and investments. Many multinational companies have opened their doors to India. So accounting regulations are also issued in the interest of foreign currency transactions and translation. Legal factor: India operates largely on the common law legal system but incorporates religious laws too. According to Institutional Shareholder Services, "India's Companies Act has been in place since 1956 and sets out the current three-tier system of administration on the national state and regional level" (para.5). The main purpose of common law in this country is to protect the owners of the companies.  

Earnest Hemingway's "The Indian camp" Essay

Earnest Hemingway's "The Indian camp" - Essay Example Nick becomes his assistant in the operation. Not long after, the expectant womans husband is discovered dead having slit his throat during the operation. The Indian Camp story reveals the upcoming of Hemingways use of counterpoint and the understated style. He addresses several thematic concerns that affected the people at the time. These are the theme of racism, sexism, masculinity and life and death. The ‘Indian Camp’ remains an important story in the canon of Hemingway to date. Being an initiation camp, the Indian Camp is used in the story to explain the theme life and death. Dr Adams, Nick’s father, exposes his son at a young age to childbirth. In the process, he unintentionally exposes the boy to violent death. Having witnessed the birth and death at the same time, Nick equates birth to death (Dudley 17). Although Nick may not have wanted to watch his father perform the caesarean, his father insists that he should do. Symbolically, he wants to make his son tough and prepare him for initiation into the adult world that was not always smooth. The theme of life and death is a symbolic depiction of the conditions of the Native American camp. There are struggles for life in the camp in which death romped life from people. The coming to birth of a child signifies the continuity of life in the camp (Dudley 18). However, life is lost at the same time when the childs father kills himself by slitting his throat with a sharp blade during the operation. In his story, Hemingway explains the desperate state of a struggle for life and at the same time the irony in a persons depriving his life. It is ironical that an effort is made to make the baby live signifying the value attached to life at the camp while at the same time the father takes his life. Fear of death is implicated in Nick’s fear for the death when thoughts of death in the forest a night before the operation overwhelm him. The themes of racism and sexism in the story are depicted in the

Learning Visual Basic Essay Example for Free

Learning Visual Basic Essay Visual Basic was a learning challenge for me. After my first assignment, I started learning from my mistakes and eventually started understanding a little more at a time. Having already learned a few basics in Web Development coding, Visual Basic was quite a bit different in programming language. Visual Basic is an Integrated Development Environment (IDE), which uses a Graphical User Interface (GUI) to create and modify code that is written in a basic programming language. There are different ways to use code in Visual Basic to make time more manageable by using less lines of code. During Class we learned how to convert algorithms to programs using input, output, variables, and looping. By reading flowcharts, hierarchy charts, and pseudo code a person can analyze and process the steps on how a program is to run. There was also a discussion on the different data types and how to use them. There are 11 data types used in Visual Basic and they are: * Boolean * Byte * Currency * Data * Double * Integer * Long * Object * Single * String * Variant Using Windows Form Applications, various input/output boxes were designed and rogrammed to run by setting up variables using expressions and operators. Visual Basic could be an asset in the future as I pursue a career in Computer Science or programming. I believe this course will help by adding to the accumulating skills and could be used to open many opportunities in the Information Technology field. Learning to analyze and make decisions on various programs and their creation, Visual Basic could aid in understanding different coding concepts that may be familiar or similar.

Biotransformation And Elimination Of Drugs Biology Essay

Biotransformation And Elimination Of Drugs Biology Essay Liver plays a significant role in the metabolism of a large number of drugs and toxins. Hepatic drug metabolism involves various processes, broadly classified as Phase 1 (functionalisation) and Phase 2 (conjugation). Glucuronidation catalysed by UDP-glucuronosyl transferase (UGTs) plays a key role in the Phase 2 metabolism of a large number of drugs as well as many endogenous substrates, like bilirubin, steroids etc., by increasing the hydrophilicity and clearance. UGTs are versatile enzymes, in terms of broad, yet overlapping substrate specificity, presence of numerous isoforms, genetic polymorphisms etc. Biological systems are recognised to be stereoselective in nature. A large number of drugs, nearly 50% of all marketed drugs exist as either single enantiomers or racemates. Therefore stereoselective behaviour of drugs plays an important role in drug action as well as disposition (Absorption, Distribution, Metabolism and Elimination). The aim of this project is to identify the enantio-selectivity of drugs towards glucuronidation by UGT and also to identify whether enantio-selectivity is linked to specific isoforms of UGT. Furthermore, predicting the enantiomeric behaviour of drugs may also aid in rationalising in-sillico modelling of drug metabolism and thereby predicting metabolism of new chemical entities (NCEs) 1. INTRODUCTION Biotransformation and elimination of drugs from the body involves several different metabolic routes. These metabolic pathways are broadly classified into Phase 1 (functionalisation) and Phase 2 (conjugation) drug metabolism. Phase 1 metabolic pathway involves transforming the drug into a more polar functionality, through various reactions like, oxidation, reduction, hydrolysis, isomerisation and so on depending on the chemical nature of the drug. These reactions are catalysed by enzymes such as: Cytochrome P450, NADPH-cytochrome P450 reductase, acetlycholineestrase etc. Product of Phase 1 drug metabolism may then act as a substrate for Phase 2 metabolism. This phase consists of conjugation of the drug substrate with endogenous ligands leading to increased polarity, hydrophilicity and thereby elimination of the drug from body through bile or urine. Conjugation reactions include glucuronidation, glycosidation, sulfation, methylation etc. These reactions are catalysed by UDP-Glucuronosyltransferase, UDP-Glycosyltransferase, Sulfotransferase, Methyltransferase respectively. Among these, glucuronidation is the most prevalent conjugation reaction in the body. [1] 2. GLUCURONIDATION Glucuronidation is the most common reaction in Phase 2 drug metabolism. This conjugation reaction which is catalysed by UDP- glucuronosyl transferase, forms about 35% of all drugs metabolised by conjugation. This is primarily due to the abundance in living systems of UDP-glucuronic acid, the co-factor for the reaction, as well as due to the pervasive nature of the enzyme, UDP-glucuronosyl transferases (UGTs). [1] [2] The process of glucuronidation involves: I. Formation of co-factor (UDP-glucuronic acid) II. Conjugation of UDP-glucuronic acid with substrate The formation of co-factor (UDP-glucuronic acid) This consists of a two step process: 1. Formation of UDP-glucose Glucose-1-phosphate is present in high concentrations in almost all cells of the body. The first stage of glucuronidation is related to glycogen synthesis through the common intermediate, UDP-glucose. The formation of UDP-glucose occurs by addition of a Uridine 5- diphosphate (UDP), a pyrophosphate nucleotide in cells, to a molecule of Glucose-1-phosphate. The reaction is catalysed by UDP-glucose pyrophosphorylase enzyme. [1] [3] 2. Dehydrogenation of UDP-glucose to UDP-glucuronic acid The above step is followed by dehydrogenation of UDP-glucose to UDP-glucuronic acid, catalysed by the enzyme UDP-glucose dehydrogenase, in the presence of NAD+ co-factor. [3] Conjugation of the substrate with UDP-glucuronic acid Conjugation reaction involves transfer of one ÃŽÂ ±-D-glucuronic acid moiety from the co-substrate UDP-glucuronic acid (UDPGA), which act as an energy rich intermediate, to form the glucuronide conjugate of the drug molecule. The reaction is catalysed by UDP-glucuronosyl transferase (UGT) enzyme. The reaction is found to be a bimolecular nucleophilic substitution (SN2), whereby the C1 carbon of glucuronic acid, which is in ÃŽÂ ±-configuration, during its reaction with the substrate inverts to form a ÃŽÂ ²-D-glucuronide. [3] [4]. The glucuronide formed is excreted via urine or bile, depending on the chemical nature and molecular weight of the conjugate. [1] [2] The entire reaction is summarised below: Figure: 1: Glucuronidation Pathway leading to formation of ether glucuronide. [3] 2.1 PHARMACOLOGICAL RELEVANCE Based on the functional group of the substrate molecule, the following types of glucuronide conjugates may be formed; [1] O-Glucuronide They are formed from Phenols, alcohols, carboxylic acids. O-gulcuronides are chiefly excreted in to bile and may undergo entero-hepatic circulation. Examples of drugs: Morphine, Chloramphenicol, Salicylic acid, Clofibrate. Figure: 2 O- Glucuronidation of Morphine [5] [6] UGT Enzyme UDPGA N-glucuronide They are formed by the reaction of UDP-glucuronic acid (UDPGA) with amines, amides etc. E.g. Sulfanilamide, Cyproheptidine, Dapsone S-Glucuronide Reaction of thiol groups with UDPGA in presence of UDP-gucuronosyl transferase results in S-glucuronides. E.g.Disulfiram, 2-Mercapto benzothiazole C-glucuronide It is an uncommon metabolic pathway that occurs due to the direct attachment of UDPGA to the carbon skeleton of drugs. E.g. Sulfinpyrazone [1] [3] 3. UDP-GLUCURONOSYL TRANSFERASE (UGT) ENZYMES 3.1 SITE UGT enzymes are present in human beings and most other mammals. The enzyme is located in many tissues of the body, mostly in liver but also in kidney, lungs, small intestine, spleen, adrenals and skin, to a lesser extend. Inside the cell, UGTs are bound to the membranes of endoplasmic reticulum. Most of the Phase 1 metabolic enzymes, including cytochrome P450s, are located in the endoplasmic reticulum. Therefore endoplasmic reticulum is regarded as an ideal site for UGT enzymes, as it facilitates glucuronide conjugation of Phase 1 substrates. [1] 3.2 STRUCTURAL ASPECTS UDP-glucuronosyl transferase enzyme does not contain a prosthetic group. The monomeric molecular weight of the enzyme if found to be between 50- 60 kilo Daltons. The protein sequence of the enzyme shows slight variations between each individual form. A full length crystal structure of UGTs is yet to be resolved, although crystal structure of the binding domain for UDP-glucuronic acid in human UGT2B7 has been published (by Miley et.al. 2007) [1] [2] 3.3 PHYSIOLOGICAL RELEVANCE In addition to being a major enzyme involved in Phase 2 drug metabolism, UGT enzymes play a number of other roles in the body. Many endogenous compounds such as bilirubin, steroid hormones (e.g. thyroxine, triiodothyronine) and catechols (derived from catecholamine metabolism), act as substrates for UGT enzymes. All these compounds are potentially hazardous if accumulated in the body. Deficiency of UGT enzyme results in hyperbilirubinaemia. Hereditary diseases like Gilberts syndrome and Cringler-Najjars syndrome are associated with genetic polymorphisms of UGT gene [7]. Apart from disposition of endogenous toxins, the enzyme also catalyses glucuronidation of various exogenous chemicals and helps in bodys defence against toxic principles [1] [8] 3.4 MULTIPLE FORMS Various forms of UDP-glucuronosyl transferase (UGT) enzymes have been identified with the help of studies based on purification, characterization of enzymes, molecular cloning, DNA sequencing etc. About 50 vertebrate UGTs have been identified among which 19 are found in humans. UGT enzymes are divided in to families and sub-families based on similarity of their amino acid sequences. Two enzymes are in the same family if the similarity of their amino acid sequences is more than 50% and will be grouped into the same subfamily is similarity is greater than 60%. [1] [2] Nomenclature Divergent evolution and sequence similarity forms the basis of nomenclature of UGT enzymes. Name of the enzyme consists of 4 parts: [1] Root Symbol The root symbol UGT stands for UDP- glucuronosyl transferase. Family It is denoted by Arabic number. E.g. 1, 2 etc Sub-family Designated by an upper-case alphabet Individual Form An Arabic numeral is used for unique identification of the individual form of the enzyme. E.g. UGT2B4, UGT1A6 [1] Mammalian UGTs are divided in to four families: UGT1, UGT2, UGT3 and UGT8. Among these, only UGT1 and UGT2 catalyses conjugation of glucuronide and hence are discussed further. UGT1A family of enzymes are found to contain 9 functional proteins and are coded for by a single gene complex located at chromosome 2q37. The genes coding for this enzyme have common exons 2-5 (region of gene which codes for the carboxyl terminus of the enzyme) and a variable exon 1. The first exon is responsible for coding the N-terminal domain of the protein and this explains why the enzymes are substrate specific in spite of have a common C-terminal [1] [2] UGT2 enzyme family, especially UGT2B plays a vital role in the metabolism of xenobiotics and endogenous ligands. Genes coding for UGT2 family enzymes are situated on chromosome 4q13. In the case of UGT2B sub family, protein sequences at the C-terminal, gives rise to the UDP-glucuronic acid binding domain as well as helps in anchoring of the protein to membrane of endoplasmic reticulum. UGT2A subfamily is less studied and do not play a significant role in systemic metabolism. UGT2A1 is present in olfactory epithelia and to a lesser extend in cells of brain and lungs. UGT2A2 in liver and small intestine, while UGT2A3 in small intestine, liver and adipose tissue. [2] Figure: 3: Shows the Phylogenetic tree of different UGT isoenzymes. %values indicate the homology between two groups or single isoenzymes at the amino-acid level. [9] 3.5 TISSUE SPECIFICITY The various forms of UGT enzymes show tissue specificity in man. Majority of these enzymes occur predominantly in the liver, (E.g. UGT 1A1, 1A4, 1A6, 2B7 etc) while some others are found in various extrahepatic sites. An example is UGT1A10, which is present in the cells of all areas of gastrointestinal tract and hence accounts for its wide range of substrate specificity, from phenol molecules to steroids. [1] 3.6 SUBSTRATE SPECIFICITY UGTs show a wide, yet overlapping, range of specificity towards drugs and endogenous ligands. For example, glucuronidation of bilirubin is preferred by UGT1A1 and that of morphine by UGT2B7. [1] [6] Table: 1: Showing Substrate Specificity of UGT enzyme isoforms. [6] Sl.No Substrate Max. Specific enzyme activity / pmol.min-1.mg protein-1 1A1 1A3 1A4 1A6 1A8 2A1 2B4 2B7 2B15 2B17 1. Phenols 1900 239 30 2400 5300 735 0.4 5 167 38 2. Amines 1 84 540 10600 1800 22 3 0 3 Opioids 0 130 0 0 0 73 0 3462 0 4. Carboxylic acids 0 121 0 170 68 0 2 0 5. Bilirubin 400 0 2 0 0 0 0 0 0 3.7 INTERINDIVIDUAL VARIATIONS Several genetic polymorphisms in UGTs may lead to variations between individuals in the ability to glucuronidate drugs and endogenous substrates. Mutations in genes coding for UGT1 enzyme family has been identified as the cause for hereditary hyperbilirubinaemia, characterized by jaundice due to high levels of unconjugated bilirubin in the body. Further, several genetic diseases- Gilberts syndrome and Cringler-Najjars syndrome, may occur due to mutations in genes coding for UGT1A1 isoform. [1] 4. ENZYME KINETICS: Study of enzyme kinetics helps to understand the catalytic mechanism of the enzyme; role played by the enzyme in metabolism as well the rate and activity of enzyme. Michaelis Menten equation is used to describe enzyme substrate interaction and is given by: [2] k1 k 2 E + S ES E + P k-1 Where E = Enzyme, S = Substrate, P = Product Michaelis Constant Km is given by: Km = (k 2 + k -1) / k 1 Michaelis Constant Km is an indicator of affinity of substrate for the enzyme as well as the rate of enzyme activity. The kinetics of drug metabolism can also be defined using Michaelis Menten equation and may be plotted in a graph of Rate of reaction (Velocity) vs. Concentration of Substrate. Although not all enzyme substrate reactions are best described by this equation, a typical model of Michaelis Menten plot is shown below: [2] Figure: 3 Michaelis Menten hyperbolic kinetic profile. [10] Here Vmax is the maximum velocity of enzyme action. Vmax / Km is an indicator of the catalytic efficiency of the enzyme. 5. STEREOISOMERISM Molecules having the same constitution of atoms and sequence of covalent bond, but differ in their three-dimensional arrangement of atoms in space are known as stereoisomers. Stereoisomers are classified in to geometrical (cis/trans) isomers, enantiomers and diastereoisomers. Stereoisomers that are mirror images of each other and hence are not superimpossible are called enantiomers. They differ from each other only by one chiral centre. Isomers that are not mirror images are diastereoisomers. They may contain more than one chiral centre. [2] [11] While geometrical and diastereoisomers are chemically different molecules, enantiomers have identical chemical and physical properties, except for the way in which they rotate plane polarized light. Enantiomers are of great significance in therapeutics as all biological systems represent a chiral environment. Hence drug action as well as disposition (absorption, distribution, metabolism and elimination) may differ between enantiomers. [2] 5.1 DRUGS AS ENANTIOMERS As discussed above, the pharmacokinetic and pharmacodynamic properties may vary for each individual enantiomer. In 1992, United States Food and Drug Administration (US FDA) published a policy for development of new stereoisomeric drugs. Approximately 50% of all marketed drugs are found to be racemates. Although many drugs can be safely administered as racemates, some others show better efficacy and fewer side effects when administered as a single enantiomer. For example, cardiac toxicity of the local anaesthetic agent, Levobupivacaine is chiefly associated with R-enantiomer. Further, some drugs undergo chiral inversion inside the body to the other enantiomer (e.g. Ibuprofen: Non-steroidal anti-inflammatory agent) and some others undergo racemisation after administration. This is of particular concern, especially if one of the enantiomers is toxic. Hence evaluating drugs for their stereochemistry is gaining importance. [2] [12] Some examples of some single enantiomeric drugs which have gained importance, compared to their racemate counterparts are given below, due to their improved pharmacodynamic- pharmacokinetic profiles: L-DOPA: The use of levo dopa instead of racemic dopa has resulted in reduction in dose and adverse effects (nausea, vomiting, anorexia, granulocytopenia) Figure: 4: Levodopa [13] ESOMEPRAZOLE: This proton-pump inhibitor, which is the S-enantiomer of Omeprazle has shown lower first pass effect and higher plasma half life compared to the R-enantiomer, thus maintaining the intra-gastric pH above 4 for a longer duration. S-enantiomer also showed reduction in variability of response between patients. Figure: 5: Esomeprazole [14] LEVOFLOXACIN: It is a Quinolone antibiotic. As there are slight differences in disposition between enantiomers of this drug, a single S-enantiomer is preferred. Figure: 6: Levofloxacin [15] R-SALBUTAMOL (LEVALBUTEROL): S-enantiomer has shown increased hyper responsiveness of airway, sensitivity to allergens and some decrease in bronchodilator potency. While R-Salbutamol gives significantly higher bronchodilator effect and lesser side effects Figure: 7: R-Salbutamol [16] R, R-METHYLPHENIDATE: This drug is found to be ten-fold more potent than its S-enantiomer when used to treat attention deficit hyperactivity. The presystemic metabolism and disposition of the drug is enantioselective in nature. Further, the R-enantiomer shows rapid onset of action and reduced adverse effects Figure: 8 R, R-Methylphenidate [17] 6. AIM OF THE PROJECT This project aims to determine the rates of glucuronidation of enantiomeric pairs, of a wide range of drugs, to identify differences in metabolism between enantiomers of a drug and also to find out whether enantioselectivity is related to a particular family of UDP-glucuronosyl transferase (UGT) enzyme. Experiment may be done by in-vitro incubations of human recombinant UGTs or human liver microsomes with the selected substrates, followed by analysis using liquid chromatography (HPLC) equipped with a mass spectrometer for detection. [14] Laboratory analysis of enantiomers is usually done using any one of the following two methods: Chiral Chromatography, which make use of a chiral column or chiral mobile phase to separate the enantiomers. Derivatisation, of the analyte using a chiral derivative followed by separation of the resulting diastereoisomers using standard, achiral chromatographic method. But in the case of separation of drug conjugates, the analytical process is relatively simple, as the glucuronide conjugates behave just like derivatised diastereomers and hence may be separated by conventional liquid chromatography. 7. FUTURE DIRECTIONS Many late stage failures in drug development process are due to inability to predict the pharmacokinetic properties of new chemical entities (NCE) before obtaining data from clinical trials. Hence in-vitro approaches like computational (in-sillico) modelling of drug metabolism is gaining acceptance in the recent times. Many approaches such as 2D-Quantitative Structure Metabolism Relationship (2D- QSMR), 3D-Quantitative Structure Metabolism Relationship (3D- QSMR), Pharmacophore Identification as well as Non-linear pattern recognition techniques are being studied to model drug metabolising enzymes. Although predictive models for metabolism of drugs by the Phase 1 metabolising enzyme, Cytochrome P450 are widely accepted, development of effective models for UDP-glucuronosyl transferases (UGTs) catalyzed Phase 2 metabolism has received much less attention. [15] Versatility of these group of metabolic enzymes, in terms of broad but overlapping substrate specificity, drug-drug interactions, genetic polymorphisms as well as presence of a large number of isoforms are some of the challenges facing the development of predictable models for UGTs. Furthermore, apart from a few catalytically relevant amino acids, the full X-ray crystal structure of UGT enzyme is not yet elucidated. [15] [18] Depending on the parameters being modelled (e.g. Km, Vmax etc.) a number of physico-chemical and molecular descriptors, such as molecular size, shape, lipophilicity, hydrogen bonding etc., are required to model molecular recognition of substrates and catalysis by UGTs. Apart from this, study of electronic nature of the nucleophile and pKa is also significant. Since chirality plays an important role in determining metabolic behaviour of drugs, design tools may be developed that address the issue of chirality. While 2D-descriptors will only predict molecular connectivity, 3-D models predicting the enantiomeric properties of enzyme-substrate interactions might significantly improve the future of drug development process. [16] [17] 8. CONCLUSION In conclusion, many biological systems represent a chiral environment. Therefore assessing the enantioselectivity of drug metabolising enzymes plays a significant role in predicting pharmacokinetic behaviour of drugs. The present project aims at identifying the enantio-selectivity of drugs in UDP-glucuronosyl transferase (UGT) metabolism, which is an important Phase 2 (conjugation) process of drug metabolism. Furthermore, knowing the enantiomeric behaviour may help in the development of 3D-Quantitative Structure Metabolism Relationship (3D-QSMR) models for predicting drug metabolism.

Literature Review on Mobile Banking

Literature Review on Mobile Banking Mobile banking is defined as a provision and availment of mobile and bank services by using telecommunication device, the services may include keep in contact with bank to administer account and access customized information (Tiwari and Bus, 2007) Mobile banking is a channel through which a customer can interact with bank through device such as mobile and PDA ( Tommi Laukkanen, Suvi Sinkkonen, Marke Kivijà ¤rvi, Pekka Laukkanen, 2007). Mobile banking is seen as an extension to the payment system of bank which enables mobile network to extend its services in reach of customer (Gavin Troy Krugel, 2007) Mobile banking help customer to access their banks anytime. Through mobile banking application customer can check their account details, transfer money transitions, and can pay their bills while sitting at home and offices. (Infogile Technologies, August 2007) The continuous development and usage of mobile make people to become in habit for it and this force companies to come up with new mobile services. Some studies shows that the transaction through mobile is more secure than a connection through internet on pc. But some studies go against it and showed the security a major challenge for mobile banking (Tommi Laukkanen, Suvi Sinkkonen, Marke Kivijà ¤rvi Pekka Laukkanen, 2007). Some factors which nourished the mobile banking and due to which the need of mobile banking is felt are the economic development (globalization is leading to mobility), high density of mobile devices, powerful devices, high data transfer, attitude of new generation towards the use of mobile banking the need and wish for mobility is increased. Features of mobile banking includes its available anywhere, anytime, instant connectivity, pro active functionality (push and pull technology), easy access (simple authentication) ( Tiwari and Bus, 2008). Mobile banking can provide location based services as compared to banks. Mobile banking is more secure than internet, it not only provide traditional bank services but also 3A services (anywhere, anytime and anyhow).As mobile banking is more convenient, effective and efficient which help to attract more customer (Jin, Nie, Xianling, Hu, 2008) Banking services, delivered by means of mobile phone Informational services: report on any type of transactions to mobile phone Payment services, based on mobile phone Mobile banking can be based on different technologies SMS, WAP, GPRS/Edge/3G(Eddy Cormon,2009) The difference between internet banking (e-banking) and mobile banking (m-banking) is that through internet bank account information is access by pc or off the mobile and through mobile banking account information is accessed by its two channels either via SMS or browser and by using mobile banking in advance era a customer get SMS alert of changes in account (Bankable Frontier Associates, 2008). Mobile banking is area in which the development can flourish and can lead to replace credit/debit card. In past 2 to 3 years mobile banking advance itself to the extent that it increase three times if we go on comparison with debit/credit cards banking (Mahesh .K. harma , Ritvik Dubey, 2009) Mobile Banking: Use of mobile device to connect to a financial institution to conduct customer self-service (CCS) includes viewing account balance, transferring funds between the accounts, paying bills or receiving accounting alerts. Mobile Payments: Use of a mobile device to make a purchase or other pay ment-related transaction. Payments initiated in physical or virtual worlds, and can be conducted via SMS, MMS, mobile Internet, downloadable application, and NFC chips.(Breffni McGuire and Marianne Crowe, 2008 ) From the last ten years technology has been evolving itself by inclusion or replacement of other technologies coming through as the day pass. This technology development has a great impact on banking industry. On the other hand the services of banking is also go through many changes starting from early eighties when telephone banking and computer banking took a lead and moved towards ATM and internet banking applications. As the electronic banking was on its peak along with it change bring in mobile technologies as well including SMS, WAP, 3G and 4G technologies (Tommi Laukkanen, Suvi Sinkkonen, Marke Kivijà ¤rvi Pekka Laukkanen, 2007). The population of Pakistan is exceed to 170 million but unfortunately there are approximately 16 million bank accounts and left behind 110 million people are without access to banks. The main focus of mobile banking is rural area, where people have 2500 branches of banks for 105 million people and 42000 subscribers per branch, Whereas mobile phone users are reached to 97 million. So that Pakistan was a good market for Mobile Banking begning. (CGAP, February 2010) In Pakistan mobile banking is emerged and famous by the name of branchless banking. After the struggle of five years from 2005 to 2010 now Pakistan is able to make their people dreams come true and mobile banking is now on its success way. Back to march 2007 first time the policy and regulatory paper was issued by SBP on a base of branchless banking (which can provide the financial services to the people who are underserved or unbanked). (CGAP, February 2010) Financial institutions were reluctant to make such huge and risky initial investment. SBP insist on implementation of mobile banking and advice Financial Institution and Banks to process the work flow of mobile banking otherwise the that would be permitted to the MNOs (Mobile Network Operators) to start their own. SBP take step with Ministry of information technology (MOIT) and Tameer bank. In 2009, Telenor has launched easypaisa( First Mobile banking Platform) with the help of Tameer Bank (A microfinance bank mostly owned by Telenor). In 2010 MCB, UBL and Allied Bank has implemented the mobile banking and making it more profitable for banks and customers as well. (CGAP, February 2010) Benefits to Customer: Customer can access his/her account by sitting at home. he/she dont need to at the counter of bank and answer the various questions of officers. Mobile banking is time saving. Mobile banking keep informing customers about his/her bank account all the time anywhere. Utility payments can be done through M-payment customers donot need to get in line and wait for his/her turn ( Uppal, 6 jan 2010). Benefits to Bank: By reduction of transaction cost, banks can save big money as Government gain is Rs.12 or Rs.13out of every 100 rupees, through mobile banking this cost reduce to Rs. 2 Time saved by the bank through mobile banking can be utilize in expansion of business, marketing and sale activities etc Banks can be benefited in a way by getting commission from cellular companies for providing services through ATM i-e prepaid talk time Those banks that are providing these services have a competitive advantage over those who are not providing it (Uppal, 6 jan 2010). MODELS: According to the policy paper issued on regulatory frame work of mobile banking by SBP there is only bank led model allowed. Non-bank model will only be allowed afterwards when players included in system get that much mature to have a limited control on a system. Bank- led model can be implemented by joint venture of Bank and cellular companies (SBP, 2007). Mobile banking can be implemented by using One- to-One Model, One-to-many and many-to-many model (SBP, 2007). One-to-one Model: In this model only one bank gets in agreement with a telecom company to provide mobile banking services to the customer. The scope is limited because the services is specific to one telco customers but good service standard, greater customization and opportunity of Co-branding and Co-marketing (SBP, 2007). One-to-many model: In this model a bank is in agreement with many telecom companies and provides service of mobile banking to their customers and everybody who has mobile phone can reach to the mobile banking service. There are several drawbacks of this model one is the telco cannot prioritize the mobile banking SMS services in order to provide quick transactions, secondly financial institution has to bear all expense related to advert/marketing, lastly bank is responsible for the arrangement of product distribution and cash inflows and outflows (SBP, 2007). Many-to-many Model; In this model many banks interact with many telecom companies in order to provide services to all those customers who have bank accounts. System leads under this model require a central transaction processing system which is handled by a financial institution or a third party who had an agreement with bank. Transaction processing system must be responsible for provision of real time service, having all proves of transactions and provide daily basis reconciliation to the account holder. This model has minimum limitation and gives maximum connectivity to its customer like an ATM which can be use by the consumer for initiating another bank transaction (SBP, 2007). In 1997 Nokia, Motorola, Ericson and phone.com came together to have a one platform for WAP application because they believed that it is critical to have a uniform standard for implementation of wireless internet universally. From that time 350 more companies join them for WAP (o.o.obe and V.F balogun, 2007). Mobile banking can be implemented through companies other than telco such as fuel distribution companies, Pakistan post, chain stores etc by using technologies of mobiles and pc (SBP, 2007). According to the research, number of those people who doesnt have bank account are 4 billion in this world which is more than two third of world population consist of low and middle income countries. In Pakistan the ratio of financial outflow is even higher than inflow, the increase of inflows is become the critical component which lead to country economic development. Mostly developing countries had implemented mobile banking such as Kenya, south Africa, Philippines, Cambodia. (Syed Salim Raza, 2010) In Kenya mobile banking is implemented by largest mobile service provider, Safaricom and launched M-PESA in 2007. With the increase of 10000 subscriptions per day, Kenya has now 7 million clients out of 38 million people. Kenya provides services of depositing and transfer of money, in order to operate M-PESA 10000 agent was hired. M-PESA is usful for those area where there is hard to reach to banks. According to study the income of Kenyan is increase to 30% since they had started mobile banking. (Syed Salim Raza, 2010) Philippines were the first user of mobile banking is ASIA. The central bank of Philippines (BSP) has taken step towards opening of mobile banking. Further than mobile banking is supported by two biggest mobile network operators in Philippines, Global and Smart. The services provided by the smart is smart money having 2.5 million out of 39 million subscriber and 1.2 million subscriber of Gcash services out of 23 million by Global. According to BPS, through traditional way customer was charge 2.5 or 5 % of remittances but in mobile banking this cost only less than 2% and Philippians are now charge US$ 50. (Syed Salim Raza, 2010). Mobile banking working based on its four constituent MNO, Banks, user applications, customers. These participant help to translate the transaction initiated from customer to the format which can be understood by banking system. For the implementation of mobile banking bank use its core infrastructure with some advancement in which a user is authenticated (usually a pin) through a platform usually a phone and a server, information is extracted from a user and pass it on to the bank then bank have set of processes for a transaction once the application is done with financial transaction it is switch back to the user by an acknowledgement usually in a form of bank account reconciliation (Gavin Troy Krugel, 2007). The technology use in mobile banking can be categories in two environments, technologies at server side and technologies at customer side. SMS, IVR, USSD2 and WAP are server side technologies, on the other hand consumer side technologies includes applications, solution and offer which is set in SIM or in user mobile such as [emailprotected] and J2ME (Java) (Gavin Troy Krugel, 2007). According to the study there are different challenges faced by the mobile banking discussed by different author which relate to mobile banking through different prospects. Uniform standard is one of the most important challenge as there are many devices of different service providers and vendors are indulge. There are no uniform regulation had made for those electronic devices to work on one platform. Network security (unauthorized access), customer privacy, and clearance of liability on customer side as they go for loan because through mobile banking the subscriber has virtual account and there is financial risk involve in it. A challenge of wireless carriers and financial institution dispute, both have different responsibility with respect to mobile transaction. (VENABLE, LLP, November, 2008). The lack of interoperability among mobile operators has limited the access of mobile payment (Kopicki and Miller, 2008). Some of the challenges which include profitability, can be generated b y the initial payment paid by the customer for initiating a transaction. Which would be paid by the customer if the offer of mobile banking seems attractive to him, if its not does so then the initial cost of banks would be a sunk cost. Interoperability, regulatory issues and security are major constraints. (Ref: Upkar Varshney, December 2002). Financial loss seems more fearful for a customer because something passing in air is not that much secure than physical transaction. Privacy risk which relate to the theft of private information. There are many uncertainties related to customer for example they think that they may not make mistake while doing financial transaction through mobile. The loss of connection which left the transaction incomplete make customer hesitated for usage of mobile for its financial transaction. Ref: (Tommi Laukkanen, Suvi Sinkkonen, Marke Kivijà ¤rvi, Pekka Laukkanen, 2007). The introduction of GSM technology helped to boost the idea and implementation of mobile banking in Nigeria. Some of the challenges faced by the Nigeria are sustainability of of growth and progress, requisition of funds for marketing of mobile banking, development of promotion of IT, Security and privacy issues, Middleware issues devices, network and protocol limitation, different standards (o.o.obe and V.F balogun, 2007) As mobile banking is a new concept that will bring some challenges and issues as well, if these issues are solved adequately it will proved to be more benefited than other technologies. Some issues including awareness about mobile banking which cover rural and urban areas, the extent of resolving the issue of security and privacy these issues can be handled very carefully and effectively but the need to take an eye of interest (uppal, 2010) According to the survey more than 60% of users are worried about security of personal data and password protection while using mobile banking as mobile phone encryption ability is limited as compare to personal computer because of which the mobile cannot meet the demand of financial security. Various threats such as cloning and use of magic cards in advance era make mobile unprotected. The applications of new technologies make the bank to keep on changing the competition rule in banking industry. The most competitive challenge is how to provide the banking services to the customer which is more convenient to them, awareness among people would be a catalyst but also upgrade the business innovation and based on these services the mobile banking is the future (Zhong Wan, Weifeng Yin and Ronggao Sun, 2009). Issues in mobile banking are demonstrated as there are large numbers of people who do not have bank accounts especially in rural areas, due to unawareness and distant factor the people dont know about banking. There are policies, regulatory and legal, financial, security from malicious viruses, spam and malware attacks, information transfer (privacy of individual) and consumer protection, information disclosure on tariffs and services, data security, technical issues which need to be tackle. While introducing various applications for mobiles such as WAP based solutions create difficulty in uniform standards. Standards need to be address security and privacy concerns of customer as well as to promote the interoperability between different implementations. Revenue sharing agreement is another major issue between service provider, banks, content providers, other service provider such as utilities, retailer (Sanjeev Banzal, 2008). Challenges faced by the bank during implementation of mobile banking in Bangladesh are, Difficulty in selection of right software, Huge Investment in purchasing the Software, License, inability to do interbank transaction as the national payment switch is not in place. Handling huge agent network to deliver and receive cash over the counter. Challenges for mobile operator includes, sharing network with multiple Banks and Operator, technical limitation to access other banks, breaches in data privacy, accounting errors, or fraudulent transactions could expose an operator to large liabilities and serious reputation damage, The complex delivery of financial services could distract management from its core communications business, perhaps stretching the abilities of smaller mobile operators, Additional Investment in Solutions. Challenges faced by solution providers are, most of the solution are telco led so bank do not feel safe, Huge Investment from their part as most of the Bank wants t o share revenue, Some of the Banks are also not ready in terms of core banking or infrastructure for mobile baking solution. Challenges faced by government are prepare a proper guideline for the Mobile Banking system, maintaining track of all the financial transaction, setà ¢Ã¢â€š ¬Ã‚ up a list of services and there charges for all the mobile Banking service, Ensuring the compatibility of the software in Bank Led Model, Allow Interà ¢Ã¢â€š ¬Ã‚  Bank transaction( Muntasir B. Shahariar, 2010). In order to provide mobile banking services the service provider has faced a challenge of security and privacy of customer, service provider has to promise users a level of security, a solution for this challenge has been made by mobile service provider is PIN and pass code to authorize valid customers and encrypted data for transfer along with the threat of password or PIN stolen if a mobile phone or wireless device is lost. Cope with low price charged to the customer is a also a hidden challenge for financial institutions because mobile banking is based on the revenue sharing model but in order to attract and retain customer low price than e-banking and previous banking service must be target(Caroline Boyd, 2007). Though mobile banking has a potential to improve saving rate and provide access to financial product but its still facing challenges which need to overcome includes high barrier to entry, low rate of loan repayment because of less contact with customer and regulatory issues (John Erickson, 2010). Attackers are gaining experience in tricks and those techniques which are unknown in 1990 are become mainstreams in 2000s such as phishing, malware, pharming such as DNS poisoning, increasing advancement in phones now threats is increased more on mobile than pcs(Bankable Frontier Associates, 2008) Challenge regarding m-banking to policy-makers and regulators is two-fold: Firstly, to encourage banks and mobile operators to develop solutions that are not proprietary, and secondly, to allow access to potential new entrants that can disrupt the lucrative business models of the banks and mobile operators. The key challenge is to do this while at the same time ensuring high levels of security and trust. Just like convergence forced the integration of broadcasting and telecommunications, so mobile banking is forcing the convergence of the financial and telecommunications sectors. Unfortunately, the convergence of two such heavily regulated industries means that this potential is unlikely to be met unless policy-makers lay the ground rules for innovation. (Comninos, Esselaar, Ndiwalana Stork, 2008) The bigger barriers in way of mobile banking is interoperability, fraud and security ,lack of awareness and understanding of benefits can achieve from mobile banking (Mahesh .K. harma , Ritvik Dubey, 2009). The common challenge policy makers and regulators have to address is: how to formulate regulatory policy that balances the need to provide space for innovation whilst ensuring services are scaled up safely (GSMA, 2008) There are also other manifest security challenges in delivering banking and payment services through wireless channels. Banks and other providers must implement security measures that adequately address these risks and threats regardless of the underlying network and carrier infrastructure used in delivering their services( Tony Chew, 2002) PUBLIC KEY INFRASTRUCTURE (PKI) FOR MOBILE BANKING To understand the challenges of deploying PKI in mobile banking, it is assumed that two keys are important. One for encryption and another for decryption. Only the decryption key must be kept secret: it is called the private key. The corresponding encryption key call the public key can be published. A Public key infrastructure works as follow. Each mobile bank user is listed in a public directory, with his/her public key. If mobile banking user wants to send a message to the bank server, he/she obtains banks public key from the directory and uses it to encrypt the message. The encrypted message is sent to bank application server. Only bank server is able to decrypt this message, because only bank knows the corresponding decryption key. Further, mobile user can use his/her private key to digitally sign his/her message by encrypting the message (or its hash) with his/her private key. Although everybody can read public-key directories, they must be protected from falsification and abuse. Therefore,there is need arise for an appropriate infrastructure called a public key infrastructure (PKI). (Narendiran, Rabara, Rajendran, 2010) In Jan 2010, for the security protection public key certificate was introduce by which the transactions made more secure than ever by using public key certificate, a special phone i-e smart phone used in which electronic signature is validate the transaction and authenticate to access the banks website. For this purpose application based Microsofts ActiveX internet explorer was necessary in order to download PKC. As mobile phone is a non- Microsoft browser and its do not support ActiveX for example iPhone , blackberry, Android, these phone do not support the designed procedure, therefore the mobile phones cant be used for mobile banking. In July 2010, Financial services commission extended its regulation to allow other verification methods by which a lay man can having its simple mobile phone set can use mobile banking services by introducing non-Microsoft browsers (CAU, 2010). The major regulatory issues which set around the branchless banking some of them are; 1- the risk of failure after introduction, a high profile failure lead to failure of all branchless schemes in which a high risk involved, 2- Non-bank institution must be introduce why only trust bank and presently using model of bank led is not always successful there must be bank led model at bank because mobile operator is a trustable authority and mobile operator can provide facilities such as a transaction can be traced geographically that a bank can never provide and mobile operator can know location exactly well than banks where a money is going to transfer and where its going to be received.3- appropriation of KYC regulation is necessary the suitability of application of customer should be under consideration. For example, if a customer transfer $30 and other is transferring $1000, will both undergo same KYC checks? If the most basic KYC checks applied to the poorest customer and full KYC ch ecks would be applied to the customer who reached to the Max-limit this relaxation may lead to the risk of terrorist attacks (Paul Makin and McEvoy, 2009). Those regulation that have been used for traditional banking cant be used for mobile banking because the risks of traditional bank and risks of mobile banking cant be equal so there is a need to develop more regulation for mobile banking, there are some areas in which the regulator attention is more require for example, making legal anti money transaction, agency rule, fullfilment cost of regulation, Foreign exchange controls, Payment regulation for non-banks, i.e. mobile operators (GSMA,2008) The regulation against risk of fraud, loss of privacy of customer and even for loss of service for the establishment of trust among the customer and its the most necessary element for the development of mobile banking. A legal framework needed which give authority to receive or send payments in electronic form. The Regulations also require for the Banks to take corrective actions and result proof measures to provide protection against violation terms and conditions of licensing including power to suspend or withdraw the license and if is there any violation done enforce financial penalty or regulate compensation. In order to formulate regulation the bank is eligible for issuance of rules, regulation and guidelines and directions for paper based payment items and the instruments used to complete the transactions and for presentation of electronic check. Moreover, the regulation is set by the bank to recognize new payment tools for the protection of interest of customer by ensuring sec urity, integration, reliability of the payment system. In bank of India, the guidelines are only formulate by the reserve bank of India and it specifies that only those bank who have physical presence in India will be licensed and supervised and will be allowed to offer mobile banking in India. Services shall be restricted only to customers of banks and holders of debit/credit cards issued as per Reserve Bank of India guidelines. SBP issued a policy paper on Mobile ( Rasheda Sultana, 2009) The development of mobile banking require some rules and regulation to be implemented for the protection of consumer, promote secure transactions, encourage economic stability. In regulation, clearly define those activities and institutional arrangements for mobile banking that directly focus on licensing, regulation and management by financial authority. It is require by those who are offering mobile banking to clearly expose prices and services offered by them along with it ensure fair dealing and data protection for all consumer. It is also require that mobile banking facilitator supervise risks of fraud and illegal activities under the rules of Know Your customer (KYC) (CAU, 2010) Banking which elaborately discusses models of mobile banking and associated risks. SBP recommends bank-based model with the scope of introducing non-bank-based model at later stage ( Rasheda Sultana, 2009) Financial crisis highlights need to make customer protection, financial access and financial stability mutually reinforcing Technological advances in mobile banking necessitate regulations that are flexible enough to accommodate innovation and customer demand yet stringent enough to protect customer privacy. The clarification of issues help banks and telecom companies to assess the risk involved in providing mobile banking in better way (CAU, 2010) A major issue that come arise while using mobile banking is to know your customer, new customer identity evertime verified whenever he have to use the service. In Kenya, identification is proved through national id card and M-PESA service which rely on id card authentication and it goes perfect. Some development in regulation allowed that only a bank can offer mobile banking services because of the reason that mobile operator due to its lack of perception and recognition power, do not know how to apply same regulatory environment to the non- bank to some extent. As the security, protection (end to end encryption) can be done only by the mobile operators since the SIM in under control of mobile operator. There are two ways to resolve this issue one is to relax the SIM control, there will be a time reach in near future that the SIM will be public utility and some control rights would be taken away from mobile operator and given to the third parties, second is relaxation of security As the implementation of mobile banking solely on mobile operator is not possible, it can be operated with comprehensive security and suitable control on appropriate reporting of maximum number of customers, transaction size and enhanced server based control. The regulator will have access to the necessary levels (Paul Makin and McEvoy, 2009) In order to achieve success in fulfillment of regulation and implementation of regulation, the regulator have to keep in mind that regulation must be apply in a proportionate manner to ensure safe and sound mobile money transfer. The regulation must benefit customers by rise in competition which reduce the price and improve the quality of service. The regulation must allow to be with the new mobile coming up for money transfer services. Financial regulation has to be developed through a consultative approach with the mobile industry to ensure it closely tracks market development without becoming a regulatory barrier (GSMA, 2008) With respect to completing a mobile banking transaction, a mobile carriers legal obligation also differs in fundamental ways from a financial institutions. The mobile carriers obligation to verify the origination and termination of a telecommunications transmission is mainly to ensure that a call is completed, and, that customers are accurately billed for the service. To the extent that a transmission is not completed, regardless of the content of that transmission, the liability of a telecommunications carrier is extremely limited as a matter of law. Under longstanding common law precedents and statutory law, for the most part a customer is entitled to no more than a refund for the cost of a failed communications, even if that communication happens to involve digital transfers of very large sums of money( Frederick M. Joyce, 2010) Mobile banking has two security segments; one is called handset zone users zone and other is mobile operator zone. Data security issues in mobile banking for example hackers, malware, viruses attacks etc some of the security issues that occur in mobile banking is as follow; Information leakage, loss and alteration can be happen in mobile banking as the technology is based on wireless devices, the information is transferred from one end to another end by using radio waves modulation and demodulation. When the rays passes from the air there are many other rays with which the interference of respective wave can be happen by which information may be leaked, loss and distort or it can be intercepted hackers can extract the information by installing devices on electromagnetic devices or may delete, modify or add in information which can damage the purpose of legitimate user which is initiated by him. Instability of communication channels and mobile devices lead to incomplete transaction. T