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Chartering & Charter Parties

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A chartering broker may be described as an intermediary between the shipowner & the merchant or the cargo owner. His knowledge must be extensive in order that he may cope with all requirements of his business; he must have a sound knowledge of shipping law, geography, port information, charges throughout the world, facilities at different places, distances between ports, & countless other matters. It also stands to reason that he mus be of the highest character. CHARTER PARTY - A written contract between the owner of a vessel and the one (the charterer) desiring to empty the vessel setting forth the terms of the arrangement, i.e., freight rate and ports involved in the contemplated trip. A contract of affreightment in writing by which the owner of a ship or other vessel lets the whole, or a part of her, to a merchant or other person for the conveyance of goods on a particular voyage in consideration of the payment of freight. This term is derived from the fact that the contract...

Analysis of Business

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The analysis of the business; its result areas, its revenues, its resources allocation & leadership position, its cost centres & cost structure, answers the question: * How are we doing? * But how do we know whether we are doing the right things? * What, in other words, is our business - & what should it be? This question calls for a different analysis, an analysis that looks at the business from the outside. Business is a process which converts a resource, distinct knowledge, into a contribution of economic value in the market place. The purpose of a business is to create a customer. The purpose is to provide something for which an independent outsider, who can choose not to buy, is willing to exchange his purchasing power. And knowledge alone (excepting only the case of the complete monopoly) gives the products of any business that leadership position on which success & survival ultimately depend. People inside a business can rarely be expected to recognize their own...

Cost Centres

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1. Only Cost Centers Exist Within a Business Employees do not create sales. Products do not create sales. Processes do not create sales. Only customers create sales. Every department inside a business is a cost center and not a profit center. Drucker says, “It is always somebody outside who decides whether the efforts of a business become economic results or whether they become so much waste and scrap.” 2. Solving Problems Solves Little Jeffrey Krames summarizes Drucker’s wisdom by writing, “Solving problems can only return the organization to its prior status quo. To achieve results managers must exploit opportunities.” Constantly fire-fighting problems will never allow a company to grow. It is only by finding and taking advantage of opportunities that causes a company to grow. 3. Effectiveness is Better than Efficiency Drucker once said, “Efficiency is doing things right; effectiveness is doing the right things.” And, Drucker also said, “Doing the right thing is more important ...

How to protect against Magic

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How to protect against Magic Read Duas from http://www.duas.org/magic.htm “and they cannot hurt with it any one except with Allah’s permission” 2 :102 “…..and whoever trusts in Allah, He is sufficient for him….”65:3 Reliance on Allah (S.W.T.) is definitely a perfect and absolute solution to any kind of problems including magic. It is related from Abu Abdillah ( Imam Sadiqe – A.S.). He said: Allah Tabarak Wa Ta’ala revealed to Dawood (A.S.): "Whoever, grasps me withdrawing from My creation – I know this from his intentions – then the skies and the earth and those in them conspire against him; but I deliver him from this state of affairs. A servant from my servants does not grasps someone from my creation except that I slash his means from the heavens that is already in his hands and makes this world a difficult place to stay. I do not care where exactly he is ruined.” – Mishkat-ul-Anwar Chapter 4 number 36. 2. Whenever there is a serious need for ...

Market Trends

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Market Trends Identify the major trends in your market that have already appeared. Write a page on their likely longevity & impact on your life & organization. Scholarly works on the Ihya' can be classified into two broad categories. In the first category are more ancient, classical works and these are in Arabic. In the second category are more recent works in Arabic as well as in other languages. Some of the classical works on the Ihya' have already been mentioned. These are: 1 . The shuruh (plural of sharh , appreciative explanation) by the mashaayikh , such as (a) Ta'reef i'l Ihya' bi Fadaail i'l Ihya' ( Introducing "The Revival" With The Grace of "The Revival" ) of al-Habib ' AbdulQadir al- ' Aydaroos. (b) A ten volume commentary on the Ihya' by al-Sayyid Muhammad al-Murtada al-Husaini al-Zabidi (1145-1205 A.H/1732-1791 C.E) titled It'haf al-Sadat al-Muttaqin bi-Sharh Asrar Ihya' 'Ulum al-...

Starting new projects

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Starting new projects When you start a new project, you need to follow these 8 "golden rules" to ensure its success... Sponsorship: You need to have a highly motivated sponsor who understands the criticality of the project on the business and is motivated to making it a success. They need to have the resources available to support you, and the right level of "influence" in the business. Targets: Sit down with your sponsor and agree specific targets. Make sure they are realistic. Perform a feasibility study to ensure that what is discussed is feasible to achieve. Only agree to the targets if there is sufficient contingency. Add an extra 20% to the budget and timeline if you can. Scope: Keep your scope to a minimum. If you can't get the contingency you need, then try and negotiate to deliver less than you have to. And if that doesn't work, identify any deliverables that are not on the critical path and negotiate to produce these items aft...

Stock Market

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Everything in stock market is not perfect, you have to take some risk. You have to say to yourself, by the time everything is perfect, the stock has gone from 10 to 60. Occasionally, you have to say I'm willing to take a little risk. Things are getting better, the balance sheet is OK. I'm going to buy this; I might be wrong. You can be wrong in this business maybe 3 or 4 times out of 10. But, if you're right & you hold on & you make 3 times your money, 5 times your money, 10 times your money, it more than offsets the times you're wrong. So, you have to understand you have no control when a recession is going to happen. Who knew? All of a sudden, we have a recession on our hands, the banking system is in trouble. How could you predict that? Obviously you couldn't. Time is on your side in the stock market. If you're not on margin where you borrow the money to buy, you've got plenty of time to say, 'I'm going to be right, the story is getting be...