Katchi Abadis

The Katchi Abadis are the neighborhoods of the poor and are known as squatter camps. A katchi abadi
dwelling consists of a makeshift mud or timber hut containing one to two rooms. Considering
their \'unstable\' nature, it is surprising to learn that katchi abadi dwellings can last up to thirty years. This is
despite the fact that they are built on lands which have unenforced ownership or disputed titles

What is a Programme?

In the Programme Management overview, we defined a programme as follows:

A programme is a set of related projects which collectively deliver an overall change
for the business.
It can be hard (and often pointless) to identify whether a given undertaking is a large project or a small
programme. Perhaps the most useful test is to look for the two levels of management - a strategic
management team guiding the overall change programme overseeing project management teams charged
with delivering the specific changes.
Here are some more guidelines contrasting the characteristics:
Programmes: Projects:
Address the entire business change Deliver a specific change component
Focus on strategic goals Focus on tactical delivery
May have imprecise definition Have a precise objective
May have uncertain timing Are defined with a specific timeline and
budget
Evolve over a period of time to derive Try to avoid change to the defined scope in
optimum benefit for the organisation order to ensure delivery
Require much senior management Require management communication
attention, often including strategic and primarily at an operational level
political debate across organisational concerning operational details
boundaries
Produce an overall improvement in the Produce specific pre-defined deliverables
business that may be multi-faceted and not
fully defined at the outset of the
programme
Require a manager who is high-powered, Require a manager who pays attention to
high-level, visionary, strategic, political, detail, has good team leadership, plans in
sales-oriented, and works with people at detail, follows a disciplined approach, and
the top and across the organisation delivers the goods.
Property

In law, something that is owned or possessed. Concepts of property vary widely among cultures. In the
West, property is generally regarded as either tangible (e.g., land or goods) or intangible (e.g., stocks and
bonds or a patent). Individual ownership of property is emphasized in Western societies, whereas in many
non-Western societies property ownership is deemphasized or conceived on a more strictly communal
basis.

What is globalization?

There are many different definitions of globalization, but most acknowledge the greater movement of
people, goods, capital and ideas due to increased economic integration which in turn is propelled by
increased trade and investment. It is like moving towards living in a borderless world.

Development
Development means ''improvement in a country's economic and social conditions''. More specifically, it
refers to improvements in ways of managing an area's natural and human resources in order to create
wealth and improve people's lives. This definition is based on the more obvious distinctions in living
standards between developed and less developed countries

Banking

A system of trading in money which involved safeguarding deposits and making funds available for
borrowers, banking developed in the Middle Ages in response to the growing need for credit in commerce.
The lending functions of banks were undertaken in England by money- lenders.

Poverty

Absolute poverty may be defined as an individual's inability to satisfy basic needs in food, clothing, shelter,
and health. In more economically developed countries relative poverty is more often discussed
1. Relative measure within a society, being the state of having income and/or wealth so low as to be unable
to maintain what is considered a minimum Standard of Living.
2. In absolute terms, having income and/or wealth too low to maintain life and health at a Subsistence level.

Factors of production

The requirements for production, usually represented as capital, labour, and land. Capital covers all man-
made aids to future production; fixed capital stays put, and includes the physical plant, buildings, tools and
machinery, while circulating capital includes raw materials and components.

Labour includes all human resources. It may be unskilled, semi-skilled, or skilled, and local labour markets
vary in the size and nature of the pool of labour. Cheap, unskilled and semi-skilled labour may be an
important locational factor for multinational corporations while skilled labour is significant in high
technology industries. Industries may be capital- or labour-intensive. Management skills can be a vital
factor of labour or can be seen as a separate factor of production under the heading of entrepreneurship.

Land includes natural resources, as in mining, and is an increasingly important factor as modern factories
extend on one level and require space for storage and parking.
built environment

The term built environment refers to the human-made surroundings that provide the setting for human
activity, ranging in scale from personal shelter and buildings to neighborhoods and cites, and can often
include their supporting infrastructure, such as water supply or energy networks.A monetary system is
anything that is accepted as a standard of value and measure of wealth in a particular region.[1]However, the
current trend is to use international trade and investment to alter the policy and legislation of individual
governments. The best recent example of this policy is the European Union's creation of the euro as a
common currency for many of its individual states.

GDP

Total market value of the goods and services produced by a nation's economy during a specific period of
time. GDP is customarily reported on an annual basis. It is defined to include all final goods and services
— that is, those that are produced by the economic resources located in that nation regardless of their
ownership and are not resold in any form. GDP differs from gross national product (GNP), which is defined
to include all final goods and services produced by resources owned by that nation's residents, whether
located in the nation or elsewhere.
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The monetary value of all the finished goods and services produced within a country's borders in a specific
time period, though GDP is usually calculated on an annual basis. It includes all of private and public
consumption, government outlays, investments and exports less imports that occur within a defined
territory.

GDP = C + G + I + NX

where:

"C" is equal to all private consumption, or consumer spending, in a nation's economy

"G" is the sum of government spending
"I" is the sum of all the country's businesses spending on capital
"NX" is the nation's total net exports, calculated as total exports minus total imports. (NX = Exports -
Imports)
GDP is commonly used as an indicator of the economic health of a country, as well as to gauge a country's
standard of living. Critics of using GDP as an economic measure say the statistic does not take into account
the underground economy - transactions that, for whatever reason, are not reported to the government.
Others say that GDP is not intended to gauge material well-being, but serves as a measure of a nation's
productivity, which is unrelated.

GNP

An economic statistic that includes GDP, plus any income earned by residents from overseas investments,
minus income earned within the domestic economy by overseas residents.
GNP is a measure of a country's economic performance, or what its citizens produced (i.e. goods and
services) and whether they produced these items within its borders.

Floating currency

A floating currency is a currency that uses a floating exchange rate as its exchange rate regime. A floating
currency is contrasted with a fixed currency.
In the modern world, the majority of the world's currencies are floating. Central banks often participate in
the markets to attempt to influence exchange rates, but such interventions are becoming less effective and
less important as the markets have become larger and less naive.

IMF

Organization and purpose

IMF "Headquarters 1" in Washington, D.C.

The International Monetary Fund was created in July 1945, originally with 45 members,[6] with a goal to
stabilize exchange rates and assist the reconstruction of the world's international payment system. Countries
contributed to a pool which could be borrowed from, on a temporary basis, by countries with payment
imbalances (Condon, 2007). The IMF was important when it was first created because it helped the world
stabilize the economic system. The IMF works to improve the economies of its member countries.[7] The I
MF describes itself as "an organization of 187 countries (as of July 2010), working to foster global
monetary cooperation, secure financial stability, facilitate international trade, promote high employment
and sustainable economic growth, and reduce poverty".

An international organization created for the purpose of:

1. Promoting global monetary and exchange stability.

2. Facilitating the expansion and balanced growth of international trade.

3. Assisting in the establishment of a multilateral system of payments for current transactions.

The IMF plays three major roles in the global monetary system. The Fund surveys and monitors economic
and financial developments, lends funds to countries with balance-of-payment difficulties, and provides
technical assistance and training for countries requesting it.

Inflation
A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of
money, caused by an increase in available currency and credit beyond the proportion of available goods and
services.

Ngo

Organization that is not part of and government. A key distinction is between not-for-profit groups and for-
profit corporations; the vast majority of NGOs are not-for-profit. In some countries, particularly socialist
ones, some NGOs are government-organized. The purposes of NGOs cover the entire range of human
interests and may be domestic or international in scope

Monopoly
Monopoly is the extreme case in capitalism. Most believe that, with few exceptions, the system just doesn't
work when there is only one provider of a good or service because there is no incentive to improve it to
meet the demands of consumers. Governments attempt to prevent monopolies from arising through the use
of antitrust laws.

Supply and demand

Relationship between the quantity of a commodity that producers have available for sale and the quantity
that consumers are willing and able to buy. Demand depends on the price of the commodity, the prices of
related commodities, and consumers' incomes and tastes. Supply depends not only on the price obtainable
for the commodity but also on the prices of similar products, the techniques of production, and the
availability and costs of inputs. The function of the market is to equalize demand and supply through the
price mechanism. If buyers want to purchase more of a commodity than is available on the market, they
will tend to bid the price up. If more of a commodity is available than buyers care to purchase, suppliers
will bid prices down. Thus, there is a tendency toward an equilibrium price at which the quantity demanded
equals the quantity supplied. The measure of the responsiveness of supply and demand to changes in price
is their elasticity.

Cost

An amount paid or required in payment for a purchase; a price

Monetary value of goods and services that producers and consumers purchase. In a basic economic sense,
cost is the measure of the alternative opportunities forgone in the choice of one good or activity over others
(see opportunity cost). For consumers, cost describes the price paid for goods and services. For producers,
cost has to do with the relationship between the value of production inputs and the level of output.

Technology

Application of knowledge to the practical aims of human life or to changing and manipulating the human
environment. Technology includes the use of materials, tools, techniques, and sources of power to make
life easier or more pleasant and work more productive.

Multinational Corporation

Corporation registered and operating in more than one country at a time, usually with its headquarters in a
single country. A firm's advantages in establishing itself multinationally include both vertical and
horizontal economies of scale (reductions in cost that result from an expanded level of output). Critics
usually regard the multinational corporation as destructive of local economies abroad and as prone to
monopolistic practices.