Reading Comprehension

What is the best summary of the third paragraph of the passage?

Directions: Answer the given question based on the following passage:

So many people today are gripped with a sense of fear. They fear for the future. They feel vulnerable in the workplace. They are afraid of losing their jobs and their ability to provide for their families. This vulnerability often fosters a resignation to riskless living and to co-dependency with others at work and at home. Our culture’s common response to this problem is to become more and more independent. Independence is an important, even vital, value and achievement. The problem is, we live in an interdependent reality, and our most important accomplishments require interdependency skills well beyond our present abilities.
People want things and want them now. Though today’s ‘credit card’ society makes it easy to ‘get now and pay later’, economic realities eventually set in, and we are reminded, sometimes painfully, that our purchases cannot outstrip our ongoing ability to produce. The demands of interest are unrelenting and unforgiving. With the dizzying rate of change in technology and increasing competition driven by the globalization of markets and technology, we must develop our minds and continually sharpen and invest in the development of our competencies to avoid becoming obsolete.
Whenever we find a problem, we usually find the finger-pointing of blame. ‘If only this hadn’t been like this…if only that…’ Blaming everyone and everything else for our problems and challenges may be the norm and many provide temporary relief from the pain, but it also chains us to these very problems. If we can find someone humble enough to accept and take responsibility for his or her circumstances and courageous enough to take whatever initiative is necessary to creatively work his or her way through or around these challenges, we can find the supreme power of choice.
The children of blame are cynicism and hopelessness. When we succumb to believing that we are victims of our circumstances and yield to the plight of determinism, we lose hope, we lose drive, and we settle into resignation and stagnation. So many bright, talented people suffer the broad range of discouragement and depression that follows. The survival response of popular culture is cynicism—‘just lower your expectations of life to the point that you aren’t disappointed by anyone or anything.’ The contrasting principle of growth and hope throughout history is the discovery that ‘I am the creative force of my life.’ (Excerpted from Stephen R. Covey’s The 7 Habits of Highly Effective People)

What is the underlying idea of the passage?

Directions: Answer the given question based on the following passage:

So many people today are gripped with a sense of fear. They fear for the future. They feel vulnerable in the workplace. They are afraid of losing their jobs and their ability to provide for their families. This vulnerability often fosters a resignation to riskless living and to co-dependency with others at work and at home. Our culture’s common response to this problem is to become more and more independent. Independence is an important, even vital, value and achievement. The problem is, we live in an interdependent reality, and our most important accomplishments require interdependency skills well beyond our present abilities.
People want things and want them now. Though today’s ‘credit card’ society makes it easy to ‘get now and pay later’, economic realities eventually set in, and we are reminded, sometimes painfully, that our purchases cannot outstrip our ongoing ability to produce. The demands of interest are unrelenting and unforgiving. With the dizzying rate of change in technology and increasing competition driven by the globalization of markets and technology, we must develop our minds and continually sharpen and invest in the development of our competencies to avoid becoming obsolete.
Whenever we find a problem, we usually find the finger-pointing of blame. ‘If only this hadn’t been like this…if only that…’ Blaming everyone and everything else for our problems and challenges may be the norm and many provide temporary relief from the pain, but it also chains us to these very problems. If we can find someone humble enough to accept and take responsibility for his or her circumstances and courageous enough to take whatever initiative is necessary to creatively work his or her way through or around these challenges, we can find the supreme power of choice.
The children of blame are cynicism and hopelessness. When we succumb to believing that we are victims of our circumstances and yield to the plight of determinism, we lose hope, we lose drive, and we settle into resignation and stagnation. So many bright, talented people suffer the broad range of discouragement and depression that follows. The survival response of popular culture is cynicism—‘just lower your expectations of life to the point that you aren’t disappointed by anyone or anything.’ The contrasting principle of growth and hope throughout history is the discovery that ‘I am the creative force of my life.’ (Excerpted from Stephen R. Covey’s The 7 Habits of Highly Effective People)

Summarise the essence of the opening paragraph.

Directions: Answer the given question based on the following passage:

The crowds surged into the square in front of the Lincoln Memorial, a monument to the 16^th American president and an avid campaigner for the liberation of black people from slavery. Tens of thousands of them had followed the call to ‘March on Washington for Jobs and Freedom’ on 28 August 1963 to demand work and equal rights for all the citizens of the USA. They arrived on special trains and in buses, singing all the way. Older black men dressed in their Sunday best; white students in T-shirts. Also present were actors and film stars like Josephine Baker, Marlon Brando, Burt Lancaster and Charlton Heston, as well as several American Congressmen. A quarter of a million people, black as well as white, had gathered for the biggest demonstration ever in Washington.
The government and many citizens were worried about the law and order. The sale of alcohol was banned on that bright August day. There were 4,000 soldiers present, with another 15,000 paratroopers on standby in the suburbs. The demonstration remained peaceful as the day wore on. As it turned increasingly hot and humid, Bob Dylan and Mahalia Jackson sang, and speaker after speaker stepped up with their demands for freedom. And then the last speaker took his place: the one they had all been waiting for—Dr. Martin Luther King, Jr.
King was the most important leader of the black civil rights movement. A charismatic speaker revered by many as an Afro-American Moses, he was, at the same time, a secret transgressor with innumerable affairs. Vilified by some as a dangerous radical and dismissed by others as a harmless Uncle Tom, the preacher of non-violent resistance would not have got far without the brutal excesses of his opponents. Finally, the future martyr of black America, who bore a cross-shaped scar on his chest from an earlier attack, began his speech. It was a speech which would make him immortal.
It had been 100 years since Abraham Lincoln started freeing the slaves in Southern America with his Emancipation Proclamation. Earlier, 10 Southern states, including Mississippi, Georgia and Alabama, separated from the United States and merged in 1861 as the Confederate States of America—in protest against the position against slavery adopted by many of the 23 Northern states, 19 of which had already liberated their slaves. (Excerpted from The Pastor and His Dream by Gesa Gottschalk)

Which of the following is the underlying idea of the passage?

Directions: Answer the given question based on the following passage:

So many people today are gripped with a sense of fear. They fear for the future. They feel vulnerable in the workplace. They are afraid of losing their jobs and their ability to provide for their families. This vulnerability often fosters a resignation to riskless living and to co-dependency with others at work and at home. Our culture’s common response to this problem is to become more and more independent. Independence is an important, even vital, value and achievement. The problem is, we live in an interdependent reality, and our most important accomplishments require interdependency skills well beyond our present abilities.
People want things and want them now. Though today’s ‘credit card’ society makes it easy to ‘get now and pay later’, economic realities eventually set in, and we are reminded, sometimes painfully, that our purchases cannot outstrip our ongoing ability to produce. The demands of interest are unrelenting and unforgiving. With the dizzying rate of change in technology and increasing competition driven by the globalization of markets and technology, we must develop our minds and continually sharpen and invest in the development of our competencies to avoid becoming obsolete.
Whenever we find a problem, we usually find the finger-pointing of blame. ‘If only this hadn’t been like this…if only that…’ Blaming everyone and everything else for our problems and challenges may be the norm and many provide temporary relief from the pain, but it also chains us to these very problems. If we can find someone humble enough to accept and take responsibility for his or her circumstances and courageous enough to take whatever initiative is necessary to creatively work his or her way through or around these challenges, we can find the supreme power of choice.
The children of blame are cynicism and hopelessness. When we succumb to believing that we are victims of our circumstances and yield to the plight of determinism, we lose hope, we lose drive, and we settle into resignation and stagnation. So many bright, talented people suffer the broad range of discouragement and depression that follows. The survival response of popular culture is cynicism—‘just lower your expectations of life to the point that you aren’t disappointed by anyone or anything.’ The contrasting principle of growth and hope throughout history is the discovery that ‘I am the creative force of my life.’ (Excerpted from Stephen R. Covey’s The 7 Habits of Highly Effective People)

Give the best summary of the second paragraph.

Directions: Read the passage and answer the question that follows:

Those of us who watched the lunar voyage of Apollo 11 were transfixed as we saw the first men walk on the moon and return to the earth. Superlatives such as ‘fantastic’ and ‘incredible’ were inadequate to describe those eventful days. But to go there, those astronauts literally had to break out of the tremendous gravity pull of the earth. More energy was spent in the first few minutes of lift-off, in the first few miles of travel, than was used over the next several days to travel half a million miles.
Habits too have tremendous gravity pull—more than most people realize or would admit. Breaking out of deeply imbedded habitual tendencies such as procrastination, impatience, criticalness, or selfishness that violate basic principles of human effectiveness involves more than a little willpower and a few minor changes in our lives. ‘Lift-off’ takes a tremendous effort, but once we break out of the gravity pull, our freedom takes on a whole new dimension.
Like any natural force, gravity pull can work with us or against us. The gravity pull of some of our habits may currently be keeping us from going where we want to go. But it is also gravity pull that keeps our world together, that keeps the planets in their orbits and our universe in order. It is a powerful force, and if we use it effectively, we can use the gravity pull of habit to create the cohesiveness and order necessary to establish effectiveness in our lives.
Habit can be defined as the intersection of knowledge, skill, and desire. Knowledge is the theoretical paradigm, the what to do and the why. Skill is how to do. And desire is the motivation, the want to do. In order to make something a habit in our lives, we have to have all three. In order to interact effectively with others it is necessary to listen to them for which we must have the skill. But this alone would not hold unless we also have the desire to interact. Creating a habit requires work in all three dimensions. By working on knowledge, skill, and desire, we can break through to new level of personal and interpersonal effectiveness as we break with old paradigms that may have been a source of pseudo-security for years. It’s sometimes a painful process. It’s a change that has to be motivated by a higher purpose, by the willingness to subordinate what we think we want now from what we would want later. But this process produces happiness which can be defined, in part at least, as the fruit of the desire and ability to sacrifice what we want now for what we want eventually. (excerpted from The 7 Habits of Highly Effective People)

What is the best summary of the first paragraph?

Directions: Read the passage and answer the question that follows:

Those of us who watched the lunar voyage of Apollo 11 were transfixed as we saw the first men walk on the moon and return to the earth. Superlatives such as ‘fantastic’ and ‘incredible’ were inadequate to describe those eventful days. But to go there, those astronauts literally had to break out of the tremendous gravity pull of the earth. More energy was spent in the first few minutes of lift-off, in the first few miles of travel, than was used over the next several days to travel half a million miles.
Habits too have tremendous gravity pull—more than most people realize or would admit. Breaking out of deeply imbedded habitual tendencies such as procrastination, impatience, criticalness, or selfishness that violate basic principles of human effectiveness involves more than a little willpower and a few minor changes in our lives. ‘Lift-off’ takes a tremendous effort, but once we break out of the gravity pull, our freedom takes on a whole new dimension.
Like any natural force, gravity pull can work with us or against us. The gravity pull of some of our habits may currently be keeping us from going where we want to go. But it is also gravity pull that keeps our world together, that keeps the planets in their orbits and our universe in order. It is a powerful force, and if we use it effectively, we can use the gravity pull of habit to create the cohesiveness and order necessary to establish effectiveness in our lives.
Habit can be defined as the intersection of knowledge, skill, and desire. Knowledge is the theoretical paradigm, the what to do and the why. Skill is how to do. And desire is the motivation, the want to do. In order to make something a habit in our lives, we have to have all three. In order to interact effectively with others it is necessary to listen to them for which we must have the skill. But this alone would not hold unless we also have the desire to interact. Creating a habit requires work in all three dimensions. By working on knowledge, skill, and desire, we can break through to new level of personal and interpersonal effectiveness as we break with old paradigms that may have been a source of pseudo-security for years. It’s sometimes a painful process. It’s a change that has to be motivated by a higher purpose, by the willingness to subordinate what we think we want now from what we would want later. But this process produces happiness which can be defined, in part at least, as the fruit of the desire and ability to sacrifice what we want now for what we want eventually. (excerpted from The 7 Habits of Highly Effective People)

What is the central or the underlying idea of the passage?

Directions: Read the passage and answer the question that follows:

Those of us who watched the lunar voyage of Apollo 11 were transfixed as we saw the first men walk on the moon and return to the earth. Superlatives such as ‘fantastic’ and ‘incredible’ were inadequate to describe those eventful days. But to go there, those astronauts literally had to break out of the tremendous gravity pull of the earth. More energy was spent in the first few minutes of lift-off, in the first few miles of travel, than was used over the next several days to travel half a million miles.
Habits too have tremendous gravity pull—more than most people realize or would admit. Breaking out of deeply imbedded habitual tendencies such as procrastination, impatience, criticalness, or selfishness that violate basic principles of human effectiveness involves more than a little willpower and a few minor changes in our lives. ‘Lift-off’ takes a tremendous effort, but once we break out of the gravity pull, our freedom takes on a whole new dimension.
Like any natural force, gravity pull can work with us or against us. The gravity pull of some of our habits may currently be keeping us from going where we want to go. But it is also gravity pull that keeps our world together, that keeps the planets in their orbits and our universe in order. It is a powerful force, and if we use it effectively, we can use the gravity pull of habit to create the cohesiveness and order necessary to establish effectiveness in our lives.
Habit can be defined as the intersection of knowledge, skill, and desire. Knowledge is the theoretical paradigm, the what to do and the why. Skill is how to do. And desire is the motivation, the want to do. In order to make something a habit in our lives, we have to have all three. In order to interact effectively with others it is necessary to listen to them for which we must have the skill. But this alone would not hold unless we also have the desire to interact. Creating a habit requires work in all three dimensions. By working on knowledge, skill, and desire, we can break through to new level of personal and interpersonal effectiveness as we break with old paradigms that may have been a source of pseudo-security for years. It’s sometimes a painful process. It’s a change that has to be motivated by a higher purpose, by the willingness to subordinate what we think we want now from what we would want later. But this process produces happiness which can be defined, in part at least, as the fruit of the desire and ability to sacrifice what we want now for what we want eventually. (excerpted from The 7 Habits of Highly Effective People)

Give the best summary of the opening paragraph.

Directions: Answer the given question based on the following passage:

The crowds surged into the square in front of the Lincoln Memorial, a monument to the 16^th American president and an avid campaigner for the liberation of black people from slavery. Tens of thousands of them had followed the call to ‘March on Washington for Jobs and Freedom’ on 28 August 1963 to demand work and equal rights for all the citizens of the USA. They arrived on special trains and in buses, singing all the way. Older black men dressed in their Sunday best; white students in T-shirts. Also present were actors and film stars like Josephine Baker, Marlon Brando, Burt Lancaster and Charlton Heston, as well as several American Congressmen. A quarter of a million people, black as well as white, had gathered for the biggest demonstration ever in Washington.
The government and many citizens were worried about the law and order. The sale of alcohol was banned on that bright August day. There were 4,000 soldiers present, with another 15,000 paratroopers on standby in the suburbs. The demonstration remained peaceful as the day wore on. As it turned increasingly hot and humid, Bob Dylan and Mahalia Jackson sang, and speaker after speaker stepped up with their demands for freedom. And then the last speaker took his place: the one they had all been waiting for—Dr. Martin Luther King, Jr.
King was the most important leader of the black civil rights movement. A charismatic speaker revered by many as an Afro-American Moses, he was, at the same time, a secret transgressor with innumerable affairs. Vilified by some as a dangerous radical and dismissed by others as a harmless Uncle Tom, the preacher of non-violent resistance would not have got far without the brutal excesses of his opponents. Finally, the future martyr of black America, who bore a cross-shaped scar on his chest from an earlier attack, began his speech. It was a speech which would make him immortal.
It had been 100 years since Abraham Lincoln started freeing the slaves in Southern America with his Emancipation Proclamation. Earlier, 10 Southern states, including Mississippi, Georgia and Alabama, separated from the United States and merged in 1861 as the Confederate States of America—in protest against the position against slavery adopted by many of the 23 Northern states, 19 of which had already liberated their slaves. (Excerpted from The Pastor and His Dream by Gesa Gottschalk)

Which of the following best summarizes the third paragraph?

Directions: Read the passage and answer the question that follows:

Those of us who watched the lunar voyage of Apollo 11 were transfixed as we saw the first men walk on the moon and return to the earth. Superlatives such as ‘fantastic’ and ‘incredible’ were inadequate to describe those eventful days. But to go there, those astronauts literally had to break out of the tremendous gravity pull of the earth. More energy was spent in the first few minutes of lift-off, in the first few miles of travel, than was used over the next several days to travel half a million miles.
Habits too have tremendous gravity pull—more than most people realize or would admit. Breaking out of deeply imbedded habitual tendencies such as procrastination, impatience, criticalness, or selfishness that violate basic principles of human effectiveness involves more than a little willpower and a few minor changes in our lives. ‘Lift-off’ takes a tremendous effort, but once we break out of the gravity pull, our freedom takes on a whole new dimension.
Like any natural force, gravity pull can work with us or against us. The gravity pull of some of our habits may currently be keeping us from going where we want to go. But it is also gravity pull that keeps our world together, that keeps the planets in their orbits and our universe in order. It is a powerful force, and if we use it effectively, we can use the gravity pull of habit to create the cohesiveness and order necessary to establish effectiveness in our lives.
Habit can be defined as the intersection of knowledge, skill, and desire. Knowledge is the theoretical paradigm, the what to do and the why. Skill is how to do. And desire is the motivation, the want to do. In order to make something a habit in our lives, we have to have all three. In order to interact effectively with others it is necessary to listen to them for which we must have the skill. But this alone would not hold unless we also have the desire to interact. Creating a habit requires work in all three dimensions. By working on knowledge, skill, and desire, we can break through to new level of personal and interpersonal effectiveness as we break with old paradigms that may have been a source of pseudo-security for years. It’s sometimes a painful process. It’s a change that has to be motivated by a higher purpose, by the willingness to subordinate what we think we want now from what we would want later. But this process produces happiness which can be defined, in part at least, as the fruit of the desire and ability to sacrifice what we want now for what we want eventually. (excerpted from The 7 Habits of Highly Effective People)

Give the best summary of the fourth paragraph.

Directions: Read the passage and answer the question that follows:

Those of us who watched the lunar voyage of Apollo 11 were transfixed as we saw the first men walk on the moon and return to the earth. Superlatives such as ‘fantastic’ and ‘incredible’ were inadequate to describe those eventful days. But to go there, those astronauts literally had to break out of the tremendous gravity pull of the earth. More energy was spent in the first few minutes of lift-off, in the first few miles of travel, than was used over the next several days to travel half a million miles.
Habits too have tremendous gravity pull—more than most people realize or would admit. Breaking out of deeply imbedded habitual tendencies such as procrastination, impatience, criticalness, or selfishness that violate basic principles of human effectiveness involves more than a little willpower and a few minor changes in our lives. ‘Lift-off’ takes a tremendous effort, but once we break out of the gravity pull, our freedom takes on a whole new dimension.
Like any natural force, gravity pull can work with us or against us. The gravity pull of some of our habits may currently be keeping us from going where we want to go. But it is also gravity pull that keeps our world together, that keeps the planets in their orbits and our universe in order. It is a powerful force, and if we use it effectively, we can use the gravity pull of habit to create the cohesiveness and order necessary to establish effectiveness in our lives.
Habit can be defined as the intersection of knowledge, skill, and desire. Knowledge is the theoretical paradigm, the what to do and the why. Skill is how to do. And desire is the motivation, the want to do. In order to make something a habit in our lives, we have to have all three. In order to interact effectively with others it is necessary to listen to them for which we must have the skill. But this alone would not hold unless we also have the desire to interact. Creating a habit requires work in all three dimensions. By working on knowledge, skill, and desire, we can break through to new level of personal and interpersonal effectiveness as we break with old paradigms that may have been a source of pseudo-security for years. It’s sometimes a painful process. It’s a change that has to be motivated by a higher purpose, by the willingness to subordinate what we think we want now from what we would want later. But this process produces happiness which can be defined, in part at least, as the fruit of the desire and ability to sacrifice what we want now for what we want eventually. (excerpted from The 7 Habits of Highly Effective People)

Give the best possible summary of the third paragraph.

Directions: Read the following passage and answer the question that follows:

People are definitely a company’s greatest asset. It does not make any difference whether the product is cars or cosmetics. A company is only as good as the people it keeps. The success of any organization depends on how the performers are rewarded and how much the non-performers go unnoticed in the system. Several organizations have called for introducing a robust performance based compensation system that basically fixes accountability on the employees and compensates them accordingly. There are calls for introducing variable pay systems, ESOPs etc. However, practical these solutions might seem at present, the possible fallouts of such systems must be kept in mind. Introducing such systems on the lines of private sector banks will essentially hit at the core of the culture of the public sector banks and the relationship that it has with its employees. And, since it is clear that it will be very difficult for the PSBs to actually pay at the levels of the private sector banks, introducing such a system would essentially mean affecting one thing that still attracts people to such jobs that is the emotional connect in terms of pride etc. Also, it will mean incentivizing managers to take decisions that maximize short-term profits and in the process probably affecting long term prospects.
Keeping in mind the responsibility that the PSBs have towards the society as a whole (something the private counterparts cannot be held accountable for), it is very important that managers at the PSBs take decisions that positively affect the long terms prospects of the banks. Introducing such explicit performance oriented systems can negatively affect the pursuit of such goals. It does not, however, mean that the banks need not lay stress on the performance. Obviously, there is a need to revamp the performance evaluation systems, probably introduce modern systems like 360 degrees appraisal etc. Also, the general compensation levels may need to be looked into and possibly increased as may be possible.
There is a requirement of the introduction of scientific manpower planning. We need to scientifically come up with parameters and benchmarks against which the productivity of the employees can be measured. Welfare of the employees needs to be looked into and it is a very important part of the talent management. There needs to be substantial increase in the allocation of welfare fund for the welfare and especially for the welfare of the retired employees. It is equally important to increase the involvement of the employees in general and the new recruits specially. In this context the policy of reward and punishment must be revamped. Any disciplinary proceeding against an employee regarding procedural lapses must be completed within the shortest possible time. It must be kept in mind that employee faces least mental harassment since the employee is nearly non-productive in this period. The above matters are very important in keeping the motivational level of the employee intact because it is now an established fact that only a motivated employee can deliver results. “The highest reward for a man’s toil is not what he gets for it, but what he becomes by it.”
Creation of congenial climate for talent nurturing calls for creation of atmosphere where employees are adequately and correctly compensated for their performance; and their talents and performances are recognized and appreciated. Apart from having right climate, the other important issues that one looks into before giving a medium to long term commitment for a career, is satisfaction arising from job enrichment/rotation, getting recognition for doing a good job, expectation of performance-based payment, flexibility in terms of job hours and other related aspects, both monetary and non-monetary incentives and a fast track promotion process through which one can look for prospects of a good career ahead. This becomes all the more important because today’s employee compares his job with the kind of job his friend/peer might be having at a private sector counterpart. More flexibility at the level of bank in deciding the compensation level reflecting the capacity of the bank to pay will be a welcome step. Today, all negotiations and settlements are reached at the industry level. There needs to be a difference in the amount being paid at a low-performing and a high performing bank. Such steps will motivate the employees of a bank on the whole to work harder and, more importantly, together. (The Indian Banker, Jan 2012)

What is the best summary of the fourth paragraph?

Directions: Answer the given question based on the following passage:

Today, India is at the cusp of a revolution in economic growth. As a progressive nation, we have to focus on both the creation of wealth (through entrepreneurship) and the redistribution of at least a part of that wealth (by philanthropy). Philanthropy is part of the implicit social contract that nurtures and revitalizes economic prosperity. Much of the new wealth created has to be given back to the community to nurture future economic growth. This is the only way we can create hope for the large majority of our poor. Robert Kennedy once said, ‘each time a man stands up to improve the lot of others, he sends forth a tiny ripple of hope.’ There is no more opportune time for us than now to create a multitude of such ripples. Today, thanks to liberalization and subsequent economic growth, a large number of Indians have the capacity to contribute. Wealth invested back into society expands opportunity for a larger section of people, and we can thus create an upheaval spiral of wealth and prosperity. This is at the core of social success in countries like the USA.
In promoting philanthropic activity, we have to focus on both the supply side of philosophy (donors) as well as the demand side (recipients). On both sides of the equation, many of our voluntary organizations have the capacity to solve problems but have little or no money to implement them. On the other hand, many of those that have the financial resources hardly have time or the focus to sustain programmes that cater to society’s demands. The need of the hour is to enthuse a large section of our affluent population to become active participants in philanthropy. According to a survey by Independent Sector, a coalition of philanthropic organization in the USA, over 80 per cent of US households donate to charitable causes, 80 million American adults involve themselves in voluntary activities, representing the equivalent of over 9 million full-time employees at a value of $239 billion. Philanthropy has allowed the USA to tackle many of its social problems. In 2000, American philanthropic contributions account for almost 2 per cent of the national income. There are similar signs of increased philanthropic activity in Latin America, Spain and Russia, to name just a few countries.
Contributions from individuals have tremendous potential in India. However, most individuals donate to religious organizations. In fact, this accounts for about 35 per cent of donations made by Indians. Further, a majority of voluntary organizations in India lack the marketing and branding skills and the methodology to tap this very important source of funds. Owing to lack of transparency and accountability, many voluntary organizations suffer from serious crises of credibility. This often deters individuals from contributing to welfare or developmental projects.
Public trust, it needs to be remembered, is the singlemost important asset of the philanthropic community. Without it, donors will not give and volunteers will not get involved. This implies accountability to the public and to the charitable intent of the donors. Improved performance also requires lowering the cost of administration and investing in more effective strategies for social change. Programme evaluation, focus on results, and even impact studies to measure the effectiveness of social investments are part of this. Independent Sector in the USA outlines a series of steps the philanthropic and non-profit sector take to ensure accountability. We need a similar code in India. (Narayan Murthy in A Better India A Better World)

Which of the following is the underlying idea of the passage?

Directions: Read the following passage and answer the question that follows:

People are definitely a company’s greatest asset. It does not make any difference whether the product is cars or cosmetics. A company is only as good as the people it keeps. The success of any organization depends on how the performers are rewarded and how much the non-performers go unnoticed in the system. Several organizations have called for introducing a robust performance based compensation system that basically fixes accountability on the employees and compensates them accordingly. There are calls for introducing variable pay systems, ESOPs etc. However, practical these solutions might seem at present, the possible fallouts of such systems must be kept in mind. Introducing such systems on the lines of private sector banks will essentially hit at the core of the culture of the public sector banks and the relationship that it has with its employees. And, since it is clear that it will be very difficult for the PSBs to actually pay at the levels of the private sector banks, introducing such a system would essentially mean affecting one thing that still attracts people to such jobs that is the emotional connect in terms of pride etc. Also, it will mean incentivizing managers to take decisions that maximize short-term profits and in the process probably affecting long term prospects.
Keeping in mind the responsibility that the PSBs have towards the society as a whole (something the private counterparts cannot be held accountable for), it is very important that managers at the PSBs take decisions that positively affect the long terms prospects of the banks. Introducing such explicit performance oriented systems can negatively affect the pursuit of such goals. It does not, however, mean that the banks need not lay stress on the performance. Obviously, there is a need to revamp the performance evaluation systems, probably introduce modern systems like 360 degrees appraisal etc. Also, the general compensation levels may need to be looked into and possibly increased as may be possible.
There is a requirement of the introduction of scientific manpower planning. We need to scientifically come up with parameters and benchmarks against which the productivity of the employees can be measured. Welfare of the employees needs to be looked into and it is a very important part of the talent management. There needs to be substantial increase in the allocation of welfare fund for the welfare and especially for the welfare of the retired employees. It is equally important to increase the involvement of the employees in general and the new recruits specially. In this context the policy of reward and punishment must be revamped. Any disciplinary proceeding against an employee regarding procedural lapses must be completed within the shortest possible time. It must be kept in mind that employee faces least mental harassment since the employee is nearly non-productive in this period. The above matters are very important in keeping the motivational level of the employee intact because it is now an established fact that only a motivated employee can deliver results. “The highest reward for a man’s toil is not what he gets for it, but what he becomes by it.”
Creation of congenial climate for talent nurturing calls for creation of atmosphere where employees are adequately and correctly compensated for their performance; and their talents and performances are recognized and appreciated. Apart from having right climate, the other important issues that one looks into before giving a medium to long term commitment for a career, is satisfaction arising from job enrichment/rotation, getting recognition for doing a good job, expectation of performance-based payment, flexibility in terms of job hours and other related aspects, both monetary and non-monetary incentives and a fast track promotion process through which one can look for prospects of a good career ahead. This becomes all the more important because today’s employee compares his job with the kind of job his friend/peer might be having at a private sector counterpart. More flexibility at the level of bank in deciding the compensation level reflecting the capacity of the bank to pay will be a welcome step. Today, all negotiations and settlements are reached at the industry level. There needs to be a difference in the amount being paid at a low-performing and a high performing bank. Such steps will motivate the employees of a bank on the whole to work harder and, more importantly, together. (The Indian Banker, Jan 2012)

Which of the following is the best summary of the second paragraph?

Directions: Answer the given question based on the following passage:

Today, India is at the cusp of a revolution in economic growth. As a progressive nation, we have to focus on both the creation of wealth (through entrepreneurship) and the redistribution of at least a part of that wealth (by philanthropy). Philanthropy is part of the implicit social contract that nurtures and revitalizes economic prosperity. Much of the new wealth created has to be given back to the community to nurture future economic growth. This is the only way we can create hope for the large majority of our poor. Robert Kennedy once said, ‘each time a man stands up to improve the lot of others, he sends forth a tiny ripple of hope.’ There is no more opportune time for us than now to create a multitude of such ripples. Today, thanks to liberalization and subsequent economic growth, a large number of Indians have the capacity to contribute. Wealth invested back into society expands opportunity for a larger section of people, and we can thus create an upheaval spiral of wealth and prosperity. This is at the core of social success in countries like the USA.
In promoting philanthropic activity, we have to focus on both the supply side of philosophy (donors) as well as the demand side (recipients). On both sides of the equation, many of our voluntary organizations have the capacity to solve problems but have little or no money to implement them. On the other hand, many of those that have the financial resources hardly have time or the focus to sustain programmes that cater to society’s demands. The need of the hour is to enthuse a large section of our affluent population to become active participants in philanthropy. According to a survey by Independent Sector, a coalition of philanthropic organization in the USA, over 80 per cent of US households donate to charitable causes, 80 million American adults involve themselves in voluntary activities, representing the equivalent of over 9 million full-time employees at a value of $239 billion. Philanthropy has allowed the USA to tackle many of its social problems. In 2000, American philanthropic contributions account for almost 2 per cent of the national income. There are similar signs of increased philanthropic activity in Latin America, Spain and Russia, to name just a few countries.
Contributions from individuals have tremendous potential in India. However, most individuals donate to religious organizations. In fact, this accounts for about 35 per cent of donations made by Indians. Further, a majority of voluntary organizations in India lack the marketing and branding skills and the methodology to tap this very important source of funds. Owing to lack of transparency and accountability, many voluntary organizations suffer from serious crises of credibility. This often deters individuals from contributing to welfare or developmental projects.
Public trust, it needs to be remembered, is the singlemost important asset of the philanthropic community. Without it, donors will not give and volunteers will not get involved. This implies accountability to the public and to the charitable intent of the donors. Improved performance also requires lowering the cost of administration and investing in more effective strategies for social change. Programme evaluation, focus on results, and even impact studies to measure the effectiveness of social investments are part of this. Independent Sector in the USA outlines a series of steps the philanthropic and non-profit sector take to ensure accountability. We need a similar code in India. (Narayan Murthy in A Better India A Better World)

Which of the following gives the best summary of the second paragraph?

Directions: Read the following passage and answer the question that follows:

People are definitely a company’s greatest asset. It does not make any difference whether the product is cars or cosmetics. A company is only as good as the people it keeps. The success of any organization depends on how the performers are rewarded and how much the non-performers go unnoticed in the system. Several organizations have called for introducing a robust performance based compensation system that basically fixes accountability on the employees and compensates them accordingly. There are calls for introducing variable pay systems, ESOPs etc. However, practical these solutions might seem at present, the possible fallouts of such systems must be kept in mind. Introducing such systems on the lines of private sector banks will essentially hit at the core of the culture of the public sector banks and the relationship that it has with its employees. And, since it is clear that it will be very difficult for the PSBs to actually pay at the levels of the private sector banks, introducing such a system would essentially mean affecting one thing that still attracts people to such jobs that is the emotional connect in terms of pride etc. Also, it will mean incentivizing managers to take decisions that maximize short-term profits and in the process probably affecting long term prospects.
Keeping in mind the responsibility that the PSBs have towards the society as a whole (something the private counterparts cannot be held accountable for), it is very important that managers at the PSBs take decisions that positively affect the long terms prospects of the banks. Introducing such explicit performance oriented systems can negatively affect the pursuit of such goals. It does not, however, mean that the banks need not lay stress on the performance. Obviously, there is a need to revamp the performance evaluation systems, probably introduce modern systems like 360 degrees appraisal etc. Also, the general compensation levels may need to be looked into and possibly increased as may be possible.
There is a requirement of the introduction of scientific manpower planning. We need to scientifically come up with parameters and benchmarks against which the productivity of the employees can be measured. Welfare of the employees needs to be looked into and it is a very important part of the talent management. There needs to be substantial increase in the allocation of welfare fund for the welfare and especially for the welfare of the retired employees. It is equally important to increase the involvement of the employees in general and the new recruits specially. In this context the policy of reward and punishment must be revamped. Any disciplinary proceeding against an employee regarding procedural lapses must be completed within the shortest possible time. It must be kept in mind that employee faces least mental harassment since the employee is nearly non-productive in this period. The above matters are very important in keeping the motivational level of the employee intact because it is now an established fact that only a motivated employee can deliver results. “The highest reward for a man’s toil is not what he gets for it, but what he becomes by it.”
Creation of congenial climate for talent nurturing calls for creation of atmosphere where employees are adequately and correctly compensated for their performance; and their talents and performances are recognized and appreciated. Apart from having right climate, the other important issues that one looks into before giving a medium to long term commitment for a career, is satisfaction arising from job enrichment/rotation, getting recognition for doing a good job, expectation of performance-based payment, flexibility in terms of job hours and other related aspects, both monetary and non-monetary incentives and a fast track promotion process through which one can look for prospects of a good career ahead. This becomes all the more important because today’s employee compares his job with the kind of job his friend/peer might be having at a private sector counterpart. More flexibility at the level of bank in deciding the compensation level reflecting the capacity of the bank to pay will be a welcome step. Today, all negotiations and settlements are reached at the industry level. There needs to be a difference in the amount being paid at a low-performing and a high performing bank. Such steps will motivate the employees of a bank on the whole to work harder and, more importantly, together. (The Indian Banker, Jan 2012)